Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	1.7B	3.2B	557m	1.4B	1.9B	7.5B	3.8B	4.2B	4B	2.9B
Cash	1.4B	1.9B	203m	118m	834m	3.9B	2.7B	2.1B	1.7B	2.9B
Cash Equivalents	235m	1.3B	354m	1.2B	1.1B	3.7B	1.1B	2.1B	2.3B	0
Short-Term Investments	3.5B	715m	27m	77m	410m	47m	148m	0	91m	34m
Total Receivables	1.5B	1.2B	1.8B	1.6B	10.8B	24.9B	5.1B	2.3B	1.6B	1.4B
Accounts Receivables	594m	772m	859m	842m	7.1B	12.9B	1.6B	1.2B	946m	817m
Other Receivables	935m	429m	963m	794m	3.7B	12B	3.5B	1.1B	650m	610m
Inventory	233m	216m	233m	230m	1.9B	2.3B	465m	452m	420m	512m
Other Current Assets	129m	604m	705m	187m	7.5B	65.4B	1.5B	388m	378m	188m
Total Current Assets	7B	5.9B	3.3B	3.5B	22.6B	100.2B	11B	7.3B	6.5B	5B
PP&E Net	9.9B	10.5B	10B	10.1B	19.4B	19B	7.3B	6.6B	6.1B	6.6B
PP&E Gross	9.9B	10.5B	10B	10.1B	19.4B	19B	7.3B	6.6B	6.1B	6.6B
Accumulated Depreciation	(4.6B)	(5.1B)	(5.2B)	(5.6B)	(29.4B)	(30.1B)	(6.6B)	(4.8B)	(4.1B)	(4.4B)
Intangible Assets	114m	451m	499m	531m	1.2B	1.1B	407m	394m	343m	347m
Goodwill	353m	613m	588m	612m	1.1B	1B	250m	249m	206m	211m
Note Receivable	1B	1.1B	773m	726m	2.7B	2.7B	709m	722m	530m	653m
Long-Term Investments	3B	2.8B	6.9B	7.3B	6.6B	6.2B	2.8B	2.2B	2.5B	2.6B
Other Long-Term Assets	481m	354m	298m	563m	4.4B	19.4B	1.3B	1.2B	1.1B	1B
Other Assets	353m	613m	588m	612m	1.1B	1B	250m	249m	206m	211m
Total Assets	22B	21.8B	22.4B	23.4B	57.8B	149.7B	23.6B	18.7B	17.3B	16.4B
Accounts Payable	323m	316m	335m	316m	7.1B	12.2B	719m	487m	361m	323m
Accrued Liabilities	323m	384m	281m	219m	518m	472m	369m	342m	301m	291m
Short-Term Debt	140m	206m	283m	478m	763m	1.5B	879m	507m	443m	415m
Current Portion of Long-Term Debt	499m	560m	803m	92m	1.4B	8B	3.6B	961m	142m	791m
Other Current Liabilities	591m	612m	1.3B	661m	10.6B	78.1B	4.6B	1.4B	630m	469m
Deferred Revenue	19m	98m	150m	109m	557m	754m	24m	45m	13m	11m
Total Current Liabilities	1.9B	2.1B	3B	1.8B	20.5B	100.2B	10.1B	3.7B	1.9B	2.3B
Long-Term Debt	4.5B	4.1B	5B	6.1B	8.8B	8.7B	3.7B	4.6B	4.3B	3.6B
Deferred Income Tax	616m	819m	720m	865m	952m	827m	152m	428m	386m	362m
Minority Interest	84m	239m	236m	252m	2.6B	1.5B	67m	60m	79m	81m
Other Liabilities	1.5B	1.5B	1.6B	1.4B	12B	26.2B	2B	1.5B	1.6B	1.6B
Total Liabilities	8.5B	8.7B	10.6B	10.4B	44.9B	137.5B	16B	10.3B	8.2B	7.9B
Common Stock	3B	3B	3B	3B	3B	3B	3B	3B	3B	3B
Retained Earnings	12.2B	12.1B	11.9B	12.4B	13.1B	12.8B	9.5B	6.6B	6.8B	6.3B
Additional Paid In Capital	73m	73m	73m	73m	73m	73m	73m	73m	73m	73m
Other Equity	(1.8B)	(2.1B)	(3.2B)	(2.6B)	(3.3B)	(3.8B)	(4.9B)	(1.3B)	(824m)	(872m)
Total Equity	13.5B	13B	11.8B	13B	13B	12.1B	7.7B	8.4B	9.1B	8.5B
Total Liabilities & Equity	22B	21.8B	22.4B	23.4B	57.8B	149.7B	23.6B	18.7B	17.3B	16.4B
Common Shares Outstanding	888.4m	888.4m	888.3m	888.3m	888.3m	888.3m	897.3m	897.3m	897.3m	897.3m

Fortum Oyj XMUN:FOT

A capital-intensive utility balancing recurring earnings with persistent reinvestment

A rate-regulated utility balancing recurring earnings with heavy grid investment

A regulated utility funding earnings growth through an expanding capital cycle

A regulated transmission utility pairing recurring earnings with an accelerating reinvestment burden

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Fortum Oyj
XMUN:FOT