Fortum Oyj (FORTUM) - Net Assets
Based on the latest financial reports, Fortum Oyj (FORTUM) has net assets worth €8.62 Billion EUR (≈ $10.08 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€16.44 Billion ≈ $19.22 Billion USD) and total liabilities (€7.83 Billion ≈ $9.15 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check FORTUM goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €8.62 Billion |
| % of Total Assets | 52.41% |
| Annual Growth Rate | 2.71% |
| 5-Year Change | -36.93% |
| 10-Year Change | -36.36% |
| Growth Volatility | 13.8 |
Fortum Oyj - Net Assets Trend (1998–2025)
This chart illustrates how Fortum Oyj's net assets have evolved over time, based on quarterly financial data. See Fortum Oyj defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Fortum Oyj (1998–2025)
The table below shows the annual net assets of Fortum Oyj from 1998 to 2025. For live valuation and market cap data, see FORTUM market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €8.62 Billion ≈ $10.08 Billion |
-5.83% |
| 2024-12-31 | €9.15 Billion ≈ $10.70 Billion |
+7.71% |
| 2023-12-31 | €8.50 Billion ≈ $9.94 Billion |
+9.84% |
| 2022-12-31 | €7.74 Billion ≈ $9.05 Billion |
-43.38% |
| 2021-12-31 | €13.66 Billion ≈ $15.98 Billion |
-12.27% |
| 2020-12-31 | €15.58 Billion ≈ $18.21 Billion |
+17.70% |
| 2019-12-31 | €13.23 Billion ≈ $15.47 Billion |
+9.58% |
| 2018-12-31 | €12.08 Billion ≈ $14.12 Billion |
-9.11% |
| 2017-12-31 | €13.29 Billion ≈ $15.53 Billion |
-1.89% |
| 2016-12-31 | €13.54 Billion ≈ $15.83 Billion |
-2.31% |
| 2015-12-31 | €13.86 Billion ≈ $16.21 Billion |
+26.78% |
| 2014-12-31 | €10.94 Billion ≈ $12.78 Billion |
+2.56% |
| 2013-12-31 | €10.66 Billion ≈ $12.46 Billion |
-1.47% |
| 2012-12-31 | €10.82 Billion ≈ $12.65 Billion |
+6.50% |
| 2011-12-31 | €10.16 Billion ≈ $11.88 Billion |
+16.23% |
| 2010-12-31 | €8.74 Billion ≈ $10.22 Billion |
+2.96% |
| 2009-12-31 | €8.49 Billion ≈ $9.93 Billion |
+0.95% |
| 2008-12-31 | €8.41 Billion ≈ $9.83 Billion |
-2.77% |
| 2007-12-31 | €8.65 Billion ≈ $10.11 Billion |
+6.00% |
| 2006-12-31 | €8.16 Billion ≈ $9.54 Billion |
+10.12% |
| 2005-12-31 | €7.41 Billion ≈ $8.66 Billion |
-3.19% |
| 2004-12-31 | €7.66 Billion ≈ $8.95 Billion |
+15.32% |
| 2003-12-31 | €6.64 Billion ≈ $7.76 Billion |
-9.42% |
| 2002-12-31 | €7.33 Billion ≈ $8.57 Billion |
+8.48% |
| 2001-12-31 | €6.75 Billion ≈ $7.90 Billion |
+7.17% |
| 2000-12-31 | €6.30 Billion ≈ $7.37 Billion |
+30.47% |
| 1999-12-31 | €4.83 Billion ≈ $5.65 Billion |
+15.44% |
| 1998-12-31 | €4.18 Billion ≈ $4.89 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Fortum Oyj's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 462.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €6.29 Billion | 73.69% |
| Common Stock | €3.05 Billion | 35.67% |
| Other Comprehensive Income | €-872.00 Million | -10.21% |
| Other Components | €73.00 Million | 0.85% |
| Total Equity | €8.54 Billion | 100.00% |
Fortum Oyj Competitors by Market Cap
The table below lists competitors of Fortum Oyj ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
PTT Exploration and Production Public Company Limited
BK:PTTEP
|
$17.69 Billion |
|
Hanmi Semicon
KO:042700
|
$17.71 Billion |
|
Boliden AB
ST:BOL
|
$17.75 Billion |
|
KE HOLDINGS SP.ADS/1 CL.A
F:KE8A
|
$17.75 Billion |
|
Yuanjie Semiconductor Technology Co. Ltd. A
SHG:688498
|
$17.67 Billion |
|
S.P.E.E.H Hidroelectrica S.A.
RO:H2O
|
$17.66 Billion |
|
MPI Corporation
TWO:6223
|
$17.65 Billion |
|
TELEFONICA BRASIL ADR 1
F:TSPA
|
$17.63 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Fortum Oyj's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 9,074,000,000 to 8,539,000,000, a change of -535,000,000 (-5.9%).
- Net income of 765,000,000 contributed positively to equity growth.
- Dividend payments of 1,256,000,000 reduced retained earnings.
- Other comprehensive income decreased equity by 47,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €765.00 Million | +8.96% |
| Dividends Paid | €1.26 Billion | -14.71% |
| Other Comprehensive Income | €-47.00 Million | -0.55% |
| Other Changes | €3.00 Million | +0.04% |
| Total Change | €- | -5.90% |
Book Value vs Market Value Analysis
This analysis compares Fortum Oyj's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.22x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 4.19x to 2.22x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1998-12-31 | €5.04 | €21.12 | x |
| 1999-12-31 | €6.00 | €21.12 | x |
| 2000-12-31 | €6.53 | €21.12 | x |
| 2001-12-31 | €6.81 | €21.12 | x |
| 2002-12-31 | €6.91 | €21.12 | x |
| 2003-12-31 | €7.50 | €21.12 | x |
| 2004-12-31 | €8.57 | €21.12 | x |
| 2005-12-31 | €8.35 | €21.12 | x |
| 2006-12-31 | €8.93 | €21.12 | x |
| 2007-12-31 | €9.38 | €21.12 | x |
| 2008-12-31 | €8.96 | €21.12 | x |
| 2009-12-31 | €9.04 | €21.12 | x |
| 2010-12-31 | €9.24 | €21.12 | x |
| 2011-12-31 | €10.84 | €21.12 | x |
| 2012-12-31 | €11.49 | €21.12 | x |
| 2013-12-31 | €11.28 | €21.12 | x |
| 2014-12-31 | €12.23 | €21.12 | x |
| 2015-12-31 | €15.53 | €21.12 | x |
| 2016-12-31 | €15.15 | €21.12 | x |
| 2017-12-31 | €14.69 | €21.12 | x |
| 2018-12-31 | €13.33 | €21.12 | x |
| 2019-12-31 | €14.61 | €21.12 | x |
| 2020-12-31 | €14.58 | €21.12 | x |
| 2021-12-31 | €13.66 | €21.12 | x |
| 2022-12-31 | €8.63 | €21.12 | x |
| 2023-12-31 | €9.41 | €21.12 | x |
| 2024-12-31 | €10.11 | €21.12 | x |
| 2025-12-31 | €9.52 | €21.12 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Fortum Oyj utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.96%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 15.33%
- • Asset Turnover: 0.30x
- • Equity Multiplier: 1.93x
- Recent ROE (8.96%) is below the historical average (12.02%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1998 | 5.36% | 2.51% | 0.76x | 2.81x | €-184.50 Million |
| 1999 | 14.94% | 8.54% | 0.68x | 2.57x | €232.50 Million |
| 2000 | 8.42% | 3.99% | 0.72x | 2.95x | €-79.20 Million |
| 2001 | 8.37% | 4.41% | 0.73x | 2.61x | €-89.50 Million |
| 2002 | 11.30% | 5.97% | 0.62x | 3.05x | €76.40 Million |
| 2003 | 12.00% | 6.75% | 0.69x | 2.59x | €128.40 Million |
| 2004 | 16.59% | 10.52% | 0.70x | 2.26x | €487.60 Million |
| 2005 | 19.03% | 36.37% | 0.26x | 2.04x | €668.90 Million |
| 2006 | 14.16% | 24.94% | 0.27x | 2.13x | €329.20 Million |
| 2007 | 19.24% | 35.90% | 0.25x | 2.11x | €772.10 Million |
| 2008 | 19.39% | 26.29% | 0.29x | 2.55x | €746.60 Million |
| 2009 | 16.33% | 23.99% | 0.28x | 2.47x | €508.60 Million |
| 2010 | 15.83% | 20.30% | 0.29x | 2.68x | €479.00 Million |
| 2011 | 18.37% | 28.29% | 0.27x | 2.39x | €805.80 Million |
| 2012 | 13.81% | 22.88% | 0.25x | 2.41x | €388.50 Million |
| 2013 | 12.01% | 19.88% | 0.25x | 2.44x | €201.60 Million |
| 2014 | 29.03% | 66.39% | 0.22x | 1.97x | €2.07 Billion |
| 2015 | 30.00% | 119.63% | 0.15x | 1.65x | €2.76 Billion |
| 2016 | 3.69% | 13.66% | 0.17x | 1.63x | €-849.90 Million |
| 2017 | 6.64% | 19.16% | 0.21x | 1.67x | €-438.80 Million |
| 2018 | 7.12% | 16.08% | 0.23x | 1.89x | €-341.10 Million |
| 2019 | 11.42% | 27.21% | 0.23x | 1.80x | €183.80 Million |
| 2020 | 14.07% | 3.72% | 0.85x | 4.46x | €527.70 Million |
| 2021 | -0.94% | -0.10% | 0.75x | 12.34x | €-1.33 Billion |
| 2022 | 13.18% | 11.48% | 0.37x | 3.08x | €244.00 Million |
| 2023 | -24.52% | -30.83% | 0.36x | 2.22x | €-2.91 Billion |
| 2024 | 12.83% | 20.07% | 0.34x | 1.91x | €256.60 Million |
| 2025 | 8.96% | 15.33% | 0.30x | 1.93x | €-88.90 Million |
Industry Comparison
This section compares Fortum Oyj's net assets metrics with peer companies in the Utilities - Renewable industry.
No peer company data available for comparison.
About Fortum Oyj
Fortum Oyj, together with its subsidiaries, engages in the generation and sale of electricity and heat to private and business customers in Finland, Sweden, Norway, Poland, and internationally. It operates through Generation, Consumer Solutions, and Other Operations segments. The Generation segment offers low-carbon hydro, nuclear, onshore wind, and solar power generation; district heating and co… Read more