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UPM-Kymmene Oyj (UPM.HE)

EUR23.38 +0.16 (+0.69%)
FI HEL Basic Materials Paper, Lumber & Forest Products
Address Alvar Aallon katu 1 100
Helsinki, FI
CEO Massimo Reynaudo
Website upm.com
IPO 2000-01-03
ISIN FI0009005987

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Also trades on Deutsche Börse · RPL.DE (EUR) NASDAQ Helsinki · UPM.HE (EUR) Other OTC · UPMKF (USD) Other OTC · UPMMY (USD)
Description

UPM-Kymmene Oyj, established in 1871 and headquartered in Helsinki, Finland, is a global player in the forest-based bioindustry. The company organizes its diverse operations across several key segments, including UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers, UPM Plywood, and other business areas. UPM is a significant producer of wood-derived materials, supplying softwood, birch, and eucalyptus pulp used in the creation of tissue, specialty, graphic papers, and packaging. It also provides sawn timber for various applications in joinery, packaging, furniture, planning, and construction. Beyond traditional timber products, the company innovates in sustainable fuels, producing wood-based renewable diesel and naphtha for the petrochemical sector, and generates electricity from its hydro and nuclear power plants. In the realm of paper and labeling, UPM offers self-adhesive label materials crucial for branding, promotion, and functional labeling across diverse industries such as food, beverage, personal care, pharmaceuticals, and logistics. Its product range also includes label papers, release base papers, office papers, and flexible packaging for printing, packing, and commercial siliconizing, alongside graphic papers tailored for advertising, publishing, and home/office use. Furthermore, UPM is a leading supplier of plywood and veneer products, which are vital for construction, vehicle flooring, liquefied natural gas (LNG) shipbuilding, parquet manufacturing, and various other industrial applications. The company also extends its expertise through forestry services, providing wood and biomass to forest investors and owners. Its innovative offerings encompass wood-based lignin for industrial applications, cell hydrogels for 3D cell culturing, UPM ProFi decking products, UPM formi granules, and a range of biomedical products. UPM maintains an expansive international presence, conducting operations across Europe, North America, Asia, and other global markets.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
EUR23.38 +0.16 (+0.69%)
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Volume Profile
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Liquidity & share structure
Average Volume
875.5K
Beta
0.22
Float Shares
511.05M
Free Float %
96.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.47% -2.70% -5.52% -9.26% +3.45% +0.16% +0.56% -14.70% -22.95% +52.88% +19.34%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
23.38
DCF (Unlevered) 22.97 -1.8%
DCF (Levered) 89.83 +284.2%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 43% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 5 0
Hold 5 0
Sell 0 0
Strong Sell 3 0
Quality scores
Altman Z-Score
2.45
Grey zone
Piotroski F-Score
6 / 9
Average
MOAT Score
2 / 10
No MOAT
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
5 / 5
High
ROE Score
3 / 5
Medium
ROA Score
4 / 5
High
D/E Score
2 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
3 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Paper, Lumber & Forest Products: +0.4%
    -6.6% Q1'26: -5.3% (vs Q1'25)
  • EPS growth Paper, Lumber & Forest Products: -12.0%
    +11.0% Q1'26: +42.3% (vs Q1'25)
  • FCF margin FCF growth · Paper, Lumber & Forest Products: +37.3%
    +10.9% Q1'26: +0.3% (vs Q1'25)
  • EBIT margin Paper, Lumber & Forest Products: +5.4%
    +8.2% Q1'26: +10.1% (vs Q1'25)
  • ROIC Paper, Lumber & Forest Products: +2.9%
    +4.2% Q1'26: +6.3% (vs Q1'25)
  • Share dilution Paper, Lumber & Forest Products: +0.0%
    -0.9% Q1'26: +1.6% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Paper, Lumber & Forest Products: 0.66×
    2.74× Q1'26: 2.48× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.21) × ERP
WACC = 78% × Ke + 22% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 22.12 Current price: 23.38
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
12 Rev. Ana.
10 EPS Ana.
Dec 2027
13 Rev. Ana.
10 EPS Ana.
Dec 2028
11 Rev. Ana.
6 EPS Ana.
Dec 2029
5 Rev. Ana.
4 EPS Ana.
Dec 2030
5 Rev. Ana.
2 EPS Ana.
Revenue
10.14B
est: 10.10B (+0.4%)
9.81B
est: 9.84B (-0.3%)
10.01B
est: 9.98B (+0.3%)
10.48B
est: 10.45B (+0.3%)
10.24B
est: 10.30B (-0.6%)
8.58B
est: 8.55B (+0.4%)
9.81B
est: 9.70B (+1.2%)
11.72B
est: 11.99B (-2.3%)
10.46B
est: 10.30B (+1.5%)
10.34B
est: 10.33B (+0.1%)
9.66B
est: 9.74B (-0.9%)
9.86B
9.58B – 10.43B
+1.1% YoY
10.08B
9.34B – 10.92B
+2.3% YoY
10.12B
10.01B – 10.23B
+0.4% YoY
9.79B
9.29B – 10.48B
-3.3% YoY
8.72B
8.28B – 9.34B
-10.9% YoY
EBITDA
1.74B
est: 1.59B (+9.9%)
1.69B
est: 1.55B (+9.3%)
1.73B
est: 1.57B (+10.3%)
2.34B
est: 1.64B (+42.4%)
1.84B
est: 1.62B (+13.5%)
1.26B
est: 1.34B (-6.4%)
2.06B
est: 1.52B (+34.9%)
2.51B
est: 1.88B (+33.0%)
1.08B
est: 1.61B (-33.0%)
1.16B
est: 1.62B (-28.1%)
1.39B
est: 1.53B (-9.1%)
1.54B
1.50B – 1.63B
+1.1% YoY
1.58B
1.46B – 1.71B
+2.3% YoY
1.58B
1.57B – 1.60B
+0.4% YoY
1.53B
1.45B – 1.64B
-3.3% YoY
1.37B
1.30B – 1.46B
-10.9% YoY
EBIT
1.20B
est: 1.09B (+10.2%)
1.19B
est: 1.06B (+12.1%)
1.28B
est: 1.07B (+19.6%)
1.88B
est: 1.12B (+67.6%)
1.36B
est: 1.11B (+22.8%)
786.00M
est: 918.68M (-14.4%)
1.59B
est: 1.04B (+52.7%)
2.05B
est: 1.29B (+58.9%)
544.00M
est: 1.09B (-50.0%)
587.00M
est: 1.09B (-46.2%)
793.00M
est: 1.03B (-22.9%)
1.04B
1.01B – 1.10B
+1.1% YoY
1.06B
986.77M – 1.15B
+2.3% YoY
1.07B
1.06B – 1.08B
+0.4% YoY
1.03B
980.86M – 1.11B
-3.3% YoY
921.41M
874.42M – 986.53M
-10.9% YoY
Net Income
916.00M
est: 893.70M (+2.5%)
879.00M
est: 862.85M (+1.9%)
973.00M
est: 947.34M (+2.7%)
1.50B
est: 1.18B (+26.6%)
1.06B
est: 1.09B (-2.3%)
560.00M
est: 698.57M (-19.8%)
1.29B
est: 1.15B (+12.3%)
1.53B
est: 1.64B (-7.1%)
388.00M
est: 432.00M (-10.2%)
436.00M
est: 859.75M (-49.3%)
480.00M
est: 643.63M (-25.4%)
848.49M
663.27M – 1.05B
+31.8% YoY
1.05B
764.81M – 1.29B
+23.4% YoY
1.12B
868.52M – 1.35B
+6.5% YoY
1.21B
1.13B – 1.32B
+8.5% YoY
1.06B
987.03M – 1.15B
-12.7% YoY
SGA
1.31B
est: 1.14B (+14.4%)
790.00M
est: 1.11B (-29.0%)
888.00M
est: 1.13B (-21.4%)
891.00M
est: 1.18B (-24.6%)
802.00M
est: 1.17B (-31.2%)
781.00M
est: 967.03M (-19.2%)
894.00M
est: 1.10B (-18.6%)
1.00B
est: 1.36B (-26.2%)
1.02B
est: 978.20M (+4.7%)
2.07B
est: 980.64M (+111.3%)
est: 925.28M (-100.0%)
935.92M
909.77M – 990.10M
+1.1% YoY
957.40M
887.26M – 1.04B
+2.3% YoY
961.13M
950.78M – 971.48M
+0.4% YoY
929.34M
881.95M – 995.02M
-3.3% YoY
828.49M
786.24M – 887.05M
-10.9% YoY
EPS
1.72
est: 1.68 (+2.6%)
1.65
est: 1.62 (+2.0%)
1.82
est: 1.78 (+2.5%)
2.80
est: 2.21 (+26.4%)
1.99
est: 2.04 (-2.3%)
1.05
est: 1.31 (-19.8%)
2.41
est: 2.15 (+12.2%)
2.86
est: 3.08 (-7.1%)
0.73
est: 0.81 (-9.9%)
0.82
est: 1.61 (-48.9%)
0.91
est: 1.20 (-24.3%)
1.58
1.25 – 1.99
+31.2% YoY
2.04
1.45 – 2.45
+29.1% YoY
2.13
1.64 – 2.56
+4.9% YoY
2.29
2.14 – 2.50
+7.3% YoY
2.00
1.87 – 2.18
-12.7% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 B+ 3/5 5/5 3/5 4/5 2/5 2/5 3/5
2026-05-08 B+ 3/5 5/5 3/5 4/5 2/5 2/5 3/5
2026-05-07 B+ 3/5 5/5 3/5 4/5 2/5 2/5 3/5
2026-05-06 B+ 3/5 5/5 3/5 4/5 2/5 2/5 3/5
2026-05-05 B+ 3/5 5/5 3/5 4/5 2/5 2/5 3/5
2026-05-04 B+ 3/5 5/5 3/5 4/5 2/5 2/5 3/5
2026-04-30 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-29 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5
2026-04-28 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5
2026-04-27 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5
2026-04-24 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5
2026-04-23 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5
2026-04-22 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5
2026-04-21 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5
2026-04-20 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5
2026-04-17 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5
2026-04-16 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5
2026-04-15 B+ 3/5 5/5 3/5 5/5 1/5 2/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
493.57M
OE per share TTM
0.93
Owner's Yield
3.61%
Maintenance CapEx ratio
133.27%
Maint CapEx / Avg PPE
70.8%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
49.9K
Shares Outstanding
527.32M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Massimo Reynaudo President & Chief Executive Officer 1M male
Harald Dialer Executive Vice President & Chief Technology Officer male
Juha Makela Senior Adviser male
Kari Stahlberg Executive Vice President of Strategy male
Kenneth Raman Senior Vice President of Treasury & Risk Management male
Mika Mikkola Vice President of Investor Relations male
Riitta Savonlahti Executive Vice President of Human Resources female
Saara Tahvanainen Executive Vice President of Marketing, Sustainability & Communications female
Sami Pauni Executive VP, General Counsel male
Anu Ahola Senior Vice President of SBU Newspaper Publishing for UPM Paper Europe & North America female
Tapio Juhani Korpeinen Chief Financial Officer & Executive Vice President of UPM Energy male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits