diff --git a/superset-frontend/plugins/plugin-chart-echarts/src/Timeseries/transformProps.ts b/superset-frontend/plugins/plugin-chart-echarts/src/Timeseries/transformProps.ts
index 74775f0d896e4..2066148c84800 100644
--- a/superset-frontend/plugins/plugin-chart-echarts/src/Timeseries/transformProps.ts
+++ b/superset-frontend/plugins/plugin-chart-echarts/src/Timeseries/transformProps.ts
@@ -22,6 +22,7 @@ import {
   AnnotationLayer,
   AxisType,
   CategoricalColorNamespace,
+  CurrencyFormatter,
   ensureIsArray,
   GenericDataType,
   getMetricLabel,
@@ -112,9 +113,15 @@ const getYAxisFormatter = (
   }
   const metricsArray = ensureIsArray(metrics);
   if (
-    metricsArray.length === 1 &&
-    isSavedMetric(metricsArray[0]) &&
-    customFormatters[metricsArray[0]]
+    metricsArray.every(isSavedMetric) &&
+    metricsArray
+      .map(metric => customFormatters[metric])
+      .every(
+        (formatter, _, formatters) =>
+          formatter instanceof CurrencyFormatter &&
+          (formatter as CurrencyFormatter)?.currency?.symbol ===
+            (formatters[0] as CurrencyFormatter)?.currency?.symbol,
+      )
   ) {
     return customFormatters[metricsArray[0]];
   }
@@ -273,8 +280,6 @@ export default function transformProps(
     currencyFormats,
     columnFormats,
     yAxisFormat,
-    labelMap,
-    Object.values(rawSeries).map(series => series.name as string),
   );
 
   const array = ensureIsArray(chartProps.rawFormData?.time_compare);
@@ -305,8 +310,11 @@ export default function transformProps(
         stack,
         formatter: forcePercentFormatter
           ? percentFormatter
-          : getCustomFormatter(customFormatters, metrics, seriesName) ??
-            defaultFormatter,
+          : getCustomFormatter(
+              customFormatters,
+              metrics,
+              labelMap[seriesName]?.[0],
+            ) ?? defaultFormatter,
         showValue,
         onlyTotal,
         totalStackedValues: sortedTotalValues,
@@ -536,12 +544,16 @@ export default function transformProps(
           if (value.observation === 0 && stack) {
             return;
           }
+          // if there are no dimensions, key is a verbose name of a metric,
+          // otherwise it is a comma separated string where the first part is metric name
+          const formatterKey =
+            groupby.length === 0 ? inverted[key] : labelMap[key]?.[0];
           const content = formatForecastTooltipSeries({
             ...value,
             seriesName: key,
             formatter: forcePercentFormatter
               ? percentFormatter
-              : getCustomFormatter(customFormatters, metrics, key) ??
+              : getCustomFormatter(customFormatters, metrics, formatterKey) ??
                 defaultFormatter,
           });
           if (!legendState || legendState[key]) {
diff --git a/superset-frontend/plugins/plugin-chart-echarts/src/utils/valueFormatter.ts b/superset-frontend/plugins/plugin-chart-echarts/src/utils/valueFormatter.ts
index 03ea6bd5fb3e9..5d995c9f00081 100644
--- a/superset-frontend/plugins/plugin-chart-echarts/src/utils/valueFormatter.ts
+++ b/superset-frontend/plugins/plugin-chart-echarts/src/utils/valueFormatter.ts
@@ -3,7 +3,6 @@ import {
   CurrencyFormatter,
   ensureIsArray,
   getNumberFormatter,
-  isDefined,
   isSavedMetric,
   QueryFormMetric,
   ValueFormatter,
@@ -14,50 +13,27 @@ export const buildCustomFormatters = (
   currencyFormats: Record<string, Currency>,
   columnFormats: Record<string, string>,
   d3Format: string | undefined,
-  labelMap: Record<string, string[]> = {},
-  seriesNames: string[] = [],
 ) => {
   const metricsArray = ensureIsArray(metrics);
-  if (metricsArray.length === 1) {
-    const metric = metricsArray[0];
+  return metricsArray.reduce((acc, metric) => {
+    const actualD3Format = isSavedMetric(metric)
+      ? columnFormats[metric] ?? d3Format
+      : d3Format;
     if (isSavedMetric(metric)) {
-      return {
-        [metric]: currencyFormats[metric]
-          ? new CurrencyFormatter({
-              d3Format: columnFormats[metric] ?? d3Format,
+      return currencyFormats[metric]
+        ? {
+            ...acc,
+            [metric]: new CurrencyFormatter({
+              d3Format: actualD3Format,
               currency: currencyFormats[metric],
-            })
-          : getNumberFormatter(columnFormats[metric] ?? d3Format),
-      };
-    }
-    return {};
-  }
-  return seriesNames.reduce((acc, name) => {
-    if (!isDefined(name)) {
-      return acc;
-    }
-
-    const metricName = labelMap[name]?.[0];
-    const isSaved =
-      metricName &&
-      // string equality checks if it is a saved metric
-      metricsArray?.some(metric => metric === metricName);
-    const actualD3Format = isSaved
-      ? columnFormats[metricName] ?? d3Format
-      : d3Format;
-    if (isSaved && currencyFormats[metricName]) {
-      return {
-        ...acc,
-        [name]: new CurrencyFormatter({
-          d3Format: actualD3Format,
-          currency: currencyFormats[metricName],
-        }),
-      };
+            }),
+          }
+        : {
+            ...acc,
+            [metric]: getNumberFormatter(actualD3Format),
+          };
     }
-    return {
-      ...acc,
-      [name]: getNumberFormatter(actualD3Format),
-    };
+    return acc;
   }, {});
 };
 
@@ -78,19 +54,10 @@ export const getValueFormatter = (
   currencyFormats: Record<string, Currency>,
   columnFormats: Record<string, string>,
   d3Format: string | undefined,
-  labelMap: Record<string, string[]> = {},
-  seriesNames: string[] = [],
   key?: string,
 ) =>
   getCustomFormatter(
-    buildCustomFormatters(
-      metrics,
-      currencyFormats,
-      columnFormats,
-      d3Format,
-      labelMap,
-      seriesNames,
-    ),
+    buildCustomFormatters(metrics, currencyFormats, columnFormats, d3Format),
     metrics,
     key,
   ) ?? getNumberFormatter(d3Format);