As of 2025-07-06, the Intrinsic Value of Fortum Oyj (FORTUM.HE) is 21.39 EUR. This FORTUM.HE valuation is based on the model Discounted Cash Flows (Growth Exit 5Y). With the current market price of 15.64 EUR, the upside of Fortum Oyj is 36.7%.

The range of the Intrinsic Value is 17.33 - 28.2 EUR.

Is FORTUM.HE undervalued or overvalued?

Based on its market price of 15.64 EUR and our intrinsic valuation, Fortum Oyj (FORTUM.HE) is undervalued by 36.7%.

15.64 EUR

Stock Price

21.39 EUR

Intrinsic Value

Intrinsic Value Details

FORTUM.HE Intrinsic Value - Valuation Summary

	Range	Selected	Upside
a
DCF (Growth Exit 5Y)	17.33 - 28.2	21.39	36.7%
DCF (Growth Exit 10Y)	18.92 - 29.85	23.02	47.1%
DCF (EBITDA Exit 5Y)	8.81 - 15.98	12.14	-22.4%
DCF (EBITDA Exit 10Y)	12.06 - 19.2	15.28	-2.3%
Peter Lynch Fair Value	5.88 - 5.88	5.88	-62.39%
P/E Multiples	13.65 - 21.75	17.59	12.5%
EV/EBITDA Multiples	4.3 - 11.33	8.84	-43.5%
Earnings Power Value	23.98 - 31.73	27.85	78.0%
Dividend Discount Model - Stable	10.26 - 22.24	16.25	3.8%
Dividend Discount Model - Multi Stages	13.41 - 21.5	16.43	5.0%

FORTUM.HE Intrinsic Value - Peers Comparison

	Range	Selected	Upside
a
Enel SpA	4.64 - 17.75	8.51	4.5%
Electricite de France SA	(14.09) - 22.43	2.65	-77.9%
Endesa SA	30.95 - 51.93	39.07	44.4%
CEZ as	-	722.94	-40.6%
SSE PLC	1,334.04 - 3,116.25	1,939.41	3.8%
EnBW Energie Baden Wuerttemberg AG	69.13 - 133.77	93.85	40.1%
Orsted A/S	176.6 - 444.57	271.64	-6.0%
EDP Energias de Portugal SA	2.7 - 8.17	4.58	18.9%
PGE Polska Grupa Energetyczna SA	6.37 - 15.24	9.37	-18.0%
Public Power Corporation SA	8.8 - 45.91	18.37	30.3%

FORTUM.HE Intrinsic Value - Key Valuation Metrics

Market Cap (mil)	14,038
Beta	1.07
Outstanding shares (mil)	897
Enterprise Value (mil)	14,590

Market risk premium	6.2%
Cost of Equity	7.4%
Cost of Debt	4.25%
WACC	6.4%