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Fortum OyjFOJCF -0.70%67 Debt-to-EBITDA is 1.53 as of Mar. 2026, which is 51% below its 10-year median of 3.14. GuruFocus rates FOJCF with a GF Score™ of 67/100 and a GF Value™ of $13.82 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 339 Utilities - Independent Power Producers companies, Fortum Oyj ranks better than 68.73% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Fortum Oyj's Debt-to-EBITDA or its related term are showing as below:
FOJCF'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 2.36 Med: 3.14 Max: 4.48
Current: 2.62
During the past 13 years, the highest Debt-to-EBITDA Ratio of Fortum Oyj was 4.48. The lowest was 2.36. And the median was 3.14.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Fortum Oyj Debt-to-EBITDA Related Terms
Fortum Oyj Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Fortum Oyj's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Renewable subindustry, Fortum Oyj's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Fortum Oyj Debt-to-EBITDA vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Fortum Oyj's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Fortum Oyj's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Fortum Oyj (FOJCF) has a Debt-to-EBITDA of 1.53 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Fortum Oyj. This is 51% below median its historical median of 3.14. Over the past decade, Fortum Oyj's Debt-to-EBITDA has ranged from 2.36 to 4.48. According to the industry distribution chart, Fortum Oyj ranks #106 out of 339 companies in the Utilities - Independent Power Producers industry, placing it in the top 31.3%.
Is Fortum Oyj's Debt-to-EBITDA too high?
Fortum Oyj's current Debt-to-EBITDA of 1.53 is 51% below median its 10-year median of 3.14. Over the past 10 years, this metric has ranged from a low of 2.36 to a high of 4.48. The Utilities - Independent Power Producers industry median Debt-to-EBITDA is 4.59. Fortum Oyj's value of 1.53 is 66.7% below this industry median. Based on the distribution chart, Fortum Oyj ranks #106 out of 339 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, Fortum Oyj has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fortum Oyj's Debt-to-EBITDA compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Fortum Oyj ranks #106 out of 339 companies for Debt-to-EBITDA. This puts Fortum Oyj in the upper half of its industry. The industry median Debt-to-EBITDA is 4.59. Fortum Oyj's value of 1.53 is 66.7% below this benchmark. Historically, Fortum Oyj's own Debt-to-EBITDA has ranged from 2.36 to 4.48 over the past decade. While the company's 10-year median is 3.14 vs. the industry median of 4.59, Fortum Oyj has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for an Utilities - Independent Power Producers company?
The median Debt-to-EBITDA among Utilities - Independent Power Producers companies is 4.59, based on 339 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Fortum Oyj's current Debt-to-EBITDA of 1.53 is 66.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Fortum Oyj. For the Utilities - Independent Power Producers industry, the median Debt-to-EBITDA is 4.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fortum Oyj's current Debt-to-EBITDA is 1.53, which is 51% below median its own 10-year median of 3.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fortum Oyj stock overvalued right now?
Based on GuruFocus' analysis, Fortum Oyj (FOJCF) is currently considered Significantly Overvalued. The stock's GF Value™ is $13.82, compared to a current price of $22.47 — trading 62.6% above its estimated fair value. The current Debt-to-EBITDA is 1.53, which is 51% below median its 10-year median of 3.14 and 66.7% below the Utilities - Independent Power Producers industry median of 4.59. Fortum Oyj's overall GF Score™ is 67/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Fortum Oyj (FOJCF), the current Debt-to-EBITDA is 1.53 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Fortum Oyj (FOJCF) Overvalued in 2026?
Based on GuruFocus' analysis, Fortum Oyj stock appears to be overvalued.
The current stock price of $22.47 is trading 62.6% above its estimated GF Value™ of $13.82.
GuruFocus considers Fortum Oyj to be Significantly Overvalued.
Key valuation signals for FOJCF:
Debt-to-EBITDA: 1.53 (51% below median its 10-year median of 3.14)
GF Value™: $13.82 vs. price of $22.47 (62.6% above fair value)
Industry Position: 66.7% below the Utilities - Independent Power Producers median (#106 of 339)
No single metric tells the full story. See the FOJCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fortum Oyj is a Finnish energy company that operates power plants that use renewable energy sources (hydro, nuclear, and solar power) to sell electricity, heat, cooling, and power products and services. The company mainly operates in Nordic and Baltic countries, Russia, Poland, and India. Its main divisions of the company are generation (large-scale power production), city solutions (sustainable energy solutions), Russia (all Russian operations), technology and new ventures (research and development and in-house incubator for startups), mergers and acquisitions, and solar and wind development. The company's operating segments are Generation, Consumer Solutions, and Other Operations.
67GF Score
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