UPM-Kymmene
25.25
EUR
-0.43 %
UPM
NASDAQ Helsinki
Paper & Forest Products
Basic Materials
18,469 following
-0.43%
-0.39%
-11.9%
-18.21%
-28.06%
-25.87%
-23.02%
-21.83%
-17.62%
+212.77%
www.upm.com
UPM-Kymmene is active in the forest industry. The company currently works with the development of wood biomass and biofuel. The product portfolio is broad and includes, for example, biochemicals, printing materials, paper, and timber. The company has operations on a global level, with the largest presence around the European market. The head office is located in Helsinki.
P/E (adj.) (24e)
15.49
EV/EBIT (adj.) (24e)
13.87
P/B (24e)
1.21
Dividend yield-% (24e)
5.94 %
Target price
30.00 EUR
Recommendation
Accumulate
Updated
29.10.2024
NASDAQ Helsinki
UPM
Daily low / high price
25.19 / 25.36
EUR
Market cap
13.48B EUR
Turnover
4.73M EUR
Volume
187K
Business risk
Valuation risk
Current
Previous
Analyst
Antti Viljakainen
Head of Research
Latest videos
Financial calendar
Annual report
05.02.2025
General meeting
27.03.2025
Interim report
24.04.2025
Interim report
24.07.2025
Interim report
29.10.2025
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8,580.0 | 9,814.0 | 11,720.0 | 10,460.0 | 10,319.0 | 11,027.2 | 11,435.6 | 11,655.6 |
| growth-% | -16.2 % | 14.4 % | 19.4 % | -10.8 % | -1.3 % | 6.9 % | 3.7 % | 1.9 % |
| EBITDA | 1,302.0 | 2,077.0 | 2,495.6 | 1,268.5 | 1,699.3 | 2,159.0 | 2,387.2 | 2,523.5 |
| EBIT (adj.) | 948.0 | 1,471.0 | 2,095.6 | 1,013.5 | 1,170.3 | 1,485.2 | 1,708.0 | 1,844.5 |
| EBIT | 761.0 | 1,562.0 | 1,973.6 | 608.5 | 1,069.3 | 1,485.2 | 1,708.0 | 1,844.5 |
| Profit before taxes | 737.0 | 1,548.0 | 1,943.5 | 463.9 | 971.5 | 1,408.5 | 1,641.8 | 1,795.6 |
| Net income | 560.0 | 1,286.0 | 1,525.0 | 386.9 | 808.6 | 1,132.0 | 1,323.7 | 1,445.4 |
| EPS (adj.) | 1.37 | 2.22 | 3.15 | 1.40 | 1.63 | 2.12 | 2.48 | 2.71 |
| growth-% | -34.2 % | 62.3 % | 41.9 % | -55.5 % | 16.2 % | 30.2 % | 16.9 % | 9.2 % |
| Dividend | 1.30 | 1.30 | 1.50 | 1.50 | 1.50 | 1.60 | 1.70 | 1.80 |
| Dividend ratio | 123.8 % | 53.9 % | 52.5 % | 206.8 % | 99.0 % | 75.4 % | 68.5 % | 66.4 % |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 15.2 % | 21.2 % | 21.3 % | 12.1 % | 16.5 % | 19.6 % | 20.9 % | 21.7 % |
| EBIT-% (adj.) | 11.0 % | 15.0 % | 17.9 % | 9.7 % | 11.3 % | 13.5 % | 14.9 % | 15.8 % |
| EBIT-% | 8.9 % | 15.9 % | 16.8 % | 5.8 % | 10.4 % | 13.5 % | 14.9 % | 15.8 % |
| ROE | 5.8 % | 12.7 % | 13.1 % | 3.3 % | 7.2 % | 10.0 % | 11.3 % | 11.8 % |
| ROI | 6.6 % | 12.4 % | 12.5 % | 3.7 % | 7.2 % | 10.0 % | 11.7 % | 12.8 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 30.47 | 33.46 | 35.33 | 34.06 | 25.25 | 25.25 | 25.25 | 25.25 |
| Shares | 533.5 | 533.5 | 533.5 | 533.5 | 533.5 | 533.5 | 533.5 | 533.5 |
| Market cap | 16,255.9 | 17,851.1 | 18,848.7 | 18,171.2 | 13,471.0 | 13,471.0 | 13,471.0 | 13,471.0 |
| Enterprise value | 16,577.9 | 19,042.1 | 21,815.7 | 20,922.8 | 16,226.0 | 15,622.8 | 14,853.2 | 14,210.6 |
| EV/S | 1.9 | 1.9 | 1.9 | 2.0 | 1.6 | 1.4 | 1.3 | 1.2 |
| EV/EBITDA | 12.7 | 9.2 | 8.7 | 16.5 | 9.5 | 7.2 | 6.2 | 5.6 |
| EV/EBIT (adj.) | 17.5 | 12.9 | 10.4 | 20.6 | 13.9 | 10.5 | 8.7 | 7.7 |
| EV/EBIT | 21.8 | 12.2 | 11.1 | 34.4 | 15.2 | 10.5 | 8.7 | 7.7 |
| P/E (adj.) | 22.3 | 15.1 | 11.2 | 24.3 | 15.5 | 11.9 | 10.2 | 9.3 |
| P/E | 29.0 | 13.9 | 12.4 | 46.8 | 16.7 | 11.9 | 10.2 | 9.3 |
| P/B | 1.7 | 1.6 | 1.5 | 1.6 | 1.2 | 1.2 | 1.1 | 1.1 |
| P/S | 1.9 | 1.8 | 1.6 | 1.7 | 1.3 | 1.2 | 1.2 | 1.2 |
| Dividend yield | 4.3 % | 3.9 % | 4.3 % | 4.4 % | 5.9 % | 6.3 % | 6.7 % | 7.1 % |
| Equity ratio | 64.0 % | 62.8 % | 58.0 % | 62.4 % | 61.9 % | 63.9 % | 67.0 % | 70.1 % |
| Gearing ratio | 3.4 % | 10.7 % | 23.0 % | 23.9 % | 23.9 % | 18.1 % | 11.2 % | 5.7 % |
Quarter data
| Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24 | Q4/24e | 2024e | Q1/25e | Q2/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,530.8 | 10,460.0 | 2,639.6 | 2,546.4 | 2,521.0 | 2,612.0 | 10,319.0 | ||
| EBITDA | 363.5 | 1,268.5 | 501.4 | 244.0 | 434.6 | 519.3 | 1,699.3 | ||
| EBIT | 210.5 | 608.5 | 354.4 | 50.0 | 300.6 | 364.3 | 1,069.3 | ||
| Profit before taxes | 180.1 | 463.9 | 331.8 | 28.1 | 271.3 | 340.3 | 971.5 | ||
| Net income | 158.1 | 386.9 | 271.8 | 26.1 | 237.3 | 273.4 | 808.6 |
ShowingAll content types
UPM-Kymmene Oyj: UPM Raflatac launches OptiCut™ WashOff linerless label to promote plastic packaging reuse
UPM-Kymmene Oyj: UPM wins Pentawards' first ever 'Supplier of the Year' category
Join Inderes community
Don't miss out - create an account and get all the possible benefits
Inderes account
Followings and notifications on followed companies
Analyst comments and recommendations
Stock comparison tool & other popular tools
UPM-Kymmene Oyj: UPM's financial reports and Annual General Meeting in 2025
