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UPM-Kymmene Oyj UPM.HE

FI · Nasdaq Helsinki · XHEL · stock · Basic Materials · website

UPM-Kymmene Oyj statistics & valuation

Market cap€12.1B
P / E25.3×
P / S1.3×
P / B1.2×
P / FCF12.4×
Net margin5.0%
FCF margin10.1%
Net debt€3.0B
Enterprise value USD$17.5B
Earnings yield EBIT/EV5%
Return on capital4.9%
Graham number -14.3%€19.71

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (€19.71); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
13.00% 3.70% 4.20% 5.00% 2022202320242025
Gross margin (%)
36.60% 29.30% 38.70% 35.70% 2022202320242025
Operating margin (%)
16.80% 6.00% 11.20% 7.80% 2022202320242025
Return on equity (%)
12.20% 3.50% 3.90% 4.80% 2022202320242025
Shares outstanding
527.3M 527.3M 527.3M 527.3M 2022202320242025
Net debt (€)
€2.81B €2.62B €2.92B €2.96B 2022202320242025
Share buybacks (€)
€0 €160.0M 2022202320242025
Return on assets (%)
6.90% 2.10% 2.30% 2.70% 2022202320242025
Free cash flow margin (%)
-8.30% 11.40% 7.30% 10.10% 2022202320242025
Debt / equity (×)
0.39× 0.29× 0.34× 0.37× 2022202320242025
EPS (€)
€2.86 €0.73 €0.82 €0.91 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

UPM-Kymmene Oyj trades at about 25.3× earnings — below its 10-year norm (10-year range 11.6×–46.1×, median 34.6×).

11.6× 46.1×

Shaded band = 10-year range (11.6×–46.1×); dot = today's 25.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin35.7%38.7%29.3%36.6%
Operating margin7.8%11.2%6.0%16.8%
Net margin5.0%4.2%3.7%13.0%
FCF margin10.1%7.3%11.4%-8.3%
Return on assets2.7%2.3%2.1%6.9%
Return on equity4.8%3.9%3.5%12.2%
Debt / equity0.28×0.26×0.21×0.30×
Current ratio1.882.101.872.05

Computed from company filings · FI · as of 2025-12-31. Figures in EUR. Facts plus Stocktoria's own computed scores — not investment advice.