Home / UPM.HE : HEL

AI Analysis Fundamentals Valuation Video Analysis Similar

AI Analysis

How does UPM.HE make money? Does UPM.HE have pricing power? What's the Earnings Whisper? Will UPM.HE profit more as the business scales? What is UPM.HE's management track record? Is UPM.HE's current price justified?

UPM-Kymmene Oyj

€26.19 +$1.05 (+4.18%)

HEL · 16 Sep 2026 10:09 UTC

Previous Close

€26.07

Day Range

€25.94€26.21

Year Range

€21.72€27.94

Market Cap

13.81B

AVG Volume

1.2M

Trailing/Forward PE

22/13.98

PEG ratio

0.74

Dividend Yield

5.73%

Next Earnings Date

2026-10-28

Primary Exchange

NASDAQ Helsinki

Revenue (EUR)

UPM.HE Revenue (EUR) by year
Period	Revenue (EUR)
2025	9.66B
2024	10.34B
2023	10.46B
2022	11.72B
2021	9.81B
2020	8.58B
2019	10.24B
2018	10.48B
2017	10.01B
2016	9.81B

Net Income (EUR)

UPM.HE Net Income (EUR) by year
Period	Net Income (EUR)
2025	480M
2024	436M
2023	388M
2022	1.52B
2021	1.29B
2020	560M
2019	1.06B
2018	1.5B
2017	974M
2016	879M

Operating Income (EUR)

UPM.HE Operating Income (EUR) by year
Period	Operating Income (EUR)
2025	432M
2024	742M
2023	626M
2022	1.97B
2021	1.56B
2020	761M
2019	1.34B
2018	1.9B
2017	1.26B
2016	1.14B

EBITDA (EUR)

UPM.HE EBITDA (EUR) by year
Period	EBITDA (EUR)
2025	1.39B
2024	1.69B
2023	1.08B
2022	2.47B
2021	2.03B
2020	1.32B
2019	1.84B
2018	2.29B
2017	1.68B
2016	1.66B

Cash Flows (EUR)

UPM.HE Cash Flows (EUR) by year
Period	Cash Flows (EUR)
2025	977M
2024	755M
2023	1.19B
2022	-968M
2021	-273M
2020	128M
2019	1.45B
2018	1.09B
2017	1.25B
2016	1.33B

EPS (EUR)

UPM.HE EPS (EUR) by year
Period	EPS (EUR)
2025	0.91
2024	0.81
2023	0.73
2022	2.86
2021	2.43
2020	1.05
2019	1.99
2018	2.8
2017	1.83
2016	1.65

Expenses (EUR)

UPM.HE Expenses (EUR) by year
Period	Expenses (EUR)
2025	428M
2024	596M
2023	1.17B
2022	1.56B
2021	1.59B
2020	932M
2019	1.69B
2018	1.59B
2017	1.66B
2016	1.69B

Cash & Debt (EUR)

UPM.HE Cash & Debt (EUR) by year
Period	Cash & Debt (EUR)
2025	716M
2024	893M
2023	695M
2022	2.07B
2021	1.56B
2020	1.72B
2019	1.54B
2018	888M
2017	716M
2016	1.1B

Debt ratios

UPM.HE Debt ratios by year
Period	Debt ratios
2025	0.46
2024	0.4
2023	0.39
2022	0.37
2021	0.14
2020	0.04
2019	-0.03
2018	-0.02

Margins

UPM.HE Margins by year
Period	Margins
2025	4.47%
2024	13.87%
2023	9.38%
2022	36.63%
2021	34.49%
2020	32.82%
2019	25.89%
2018	49.71%
2017	46.37%
2016	37.34%

Return on Capital

UPM.HE Return on Capital by year
Period	Return on Capital
2025	4.64%
2024	3.78%
2023	3.36%
2022	11.84%
2021	11.58%
2020	5.89%
2019	10.43%
2018	15.27%
2017	11.24%
2016	10.67%

Shares Outstanding

UPM.HE Shares Outstanding by year
Period	Shares Outstanding
2025	527.32M
2024	533.32M
2023	533.32M
2022	533.32M
2021	533.32M
2020	533.32M
2019	533.32M
2018	533.32M
2017	533.32M
2016	533.5M

Dividends (EUR)

UPM.HE Dividends (EUR) by year
Period	Dividends (EUR)
2026	1.5
2025	1.5
2024	1.5
2023	1.5
2022	1.3
2021	1.3
2020	1.3
2019	1.3
2018	1.15
2017	0.95

Book Value Per Share (EUR)

UPM.HE Book Value Per Share (EUR) by year
Period	Book Value Per Share (EUR)
2025	19.6
2024	21.64
2023	21.62
2022	24.15
2021	20.83
2020	17.84
2019	19.08
2018	18.37
2017	16.25
2016	15.44

Total Assets (EUR)

UPM.HE Total Assets (EUR) by year
Period	Total Assets (EUR)
2025	17.53B
2024	19.1B
2023	18.7B
2022	22.21B
2021	17.68B
2020	14.86B
2019	14.72B
2018	14B
2017	13.07B
2016	13.91B

PE Ratio

UPM.HE PE Ratio by year
Period	PE Ratio
Sep 26	26.24
Sep 26	25.94
Sep 26	24.4
Aug 26	24.16
Aug 26	23.83
Aug 26	23.15
Aug 26	23.82
Jul 26	23.68
Jul 26	22.61
Jul 26	23.6
Jul 26	23.3
Jul 26	23.49
Jun 26	25.58
Jun 26	26.5
Jun 26	27.14
Jun 26	27.77
May 26	27.51
May 26	27.65
May 26	27.52
May 26	27.83
Apr 26	27.98
Apr 26	27.51
Apr 26	29.09
Apr 26	29.28
Apr 26	29.34
Mar 26	110.1
Mar 26	107.04
Mar 26	111.29
Mar 26	112.31
Feb 26	114.74
Feb 26	114.74
Feb 26	117.2
Feb 26	107.17
Jan 26	99.38
Jan 26	102.62
Jan 26	104.87
Jan 26	104.83
Jan 26	106.91
Dec 25	36.78
Dec 25	36.76
Dec 25	36.35
Dec 25	37.05
Nov 25	35.94
Nov 25	35.02
Nov 25	36.61
Nov 25	34.9
Oct 25	35.59
Oct 25	36.18
Oct 25	34.04
Oct 25	33.4
Oct 25	36.09
Sep 25	40.94
Sep 25	40.49
Sep 25	40.9
Sep 25	42.07
Aug 25	43.02
Aug 25	44.83
Aug 25	42.61
Aug 25	43.36
Aug 25	39.79
Jul 25	43.36
Jul 25	40.94
Jul 25	42.51
Jul 25	41.85
Jun 25	28.83
Jun 25	28.84
Jun 25	28.18
Jun 25	28.95
May 25	29.83
May 25	30.08
May 25	30.48
May 25	29.17
May 25	28.66
Apr 25	28.37
Apr 25	27.82
Apr 25	27.69
Apr 25	28.68
Mar 25	19.38
Mar 25	20.33
Mar 25	21.07
Mar 25	21.89
Feb 25	21.59
Feb 25	22.41
Feb 25	22.61
Feb 25	21.38
Jan 25	21.79
Jan 25	21.46
Jan 25	20.77
Jan 25	20.63
Jan 25	20.61
Dec 24	32.8
Dec 24	31.68
Dec 24	32.09
Dec 24	32.43
Nov 24	30.74
Nov 24	31.67
Nov 24	32.32
Nov 24	32.39
Nov 24	33.39
Oct 24	35.75

Free Cash Flow Yield

UPM.HE Free Cash Flow Yield by year
Period	Free Cash Flow Yield
Sep 26	5.56%
Sep 26	5.63%
Sep 26	5.98%
Aug 26	6.04%
Aug 26	6.13%
Aug 26	6.31%
Aug 26	6.13%
Jul 26	6.17%
Jul 26	6.46%
Jul 26	6.19%
Jul 26	6.27%
Jul 26	6.21%
Jun 26	7.96%
Jun 26	7.68%
Jun 26	7.5%
Jun 26	7.33%
May 26	7.4%
May 26	7.36%
May 26	7.4%
May 26	7.31%
Apr 26	7.27%
Apr 26	7.4%
Apr 26	7%
Apr 26	6.95%
Apr 26	6.94%
Mar 26	5.86%
Mar 26	6.03%
Mar 26	5.8%
Mar 26	5.74%
Feb 26	5.62%
Feb 26	5.62%
Feb 26	5.5%
Feb 26	6.02%
Jan 26	6.49%
Jan 26	6.29%
Jan 26	6.15%
Jan 26	6.15%
Jan 26	6.03%
Dec 25	6.22%
Dec 25	6.22%
Dec 25	6.29%
Dec 25	6.17%
Nov 25	6.36%
Nov 25	6.53%
Nov 25	6.25%
Nov 25	6.55%
Oct 25	6.43%
Oct 25	6.32%
Oct 25	6.72%
Oct 25	6.85%
Oct 25	6.34%
Sep 25	6.15%
Sep 25	6.22%
Sep 25	6.16%
Sep 25	5.99%
Aug 25	5.85%
Aug 25	5.62%
Aug 25	5.91%
Aug 25	5.81%
Aug 25	6.33%
Jul 25	5.81%
Jul 25	6.15%
Jul 25	5.92%
Jul 25	6.02%
Jun 25	6.01%
Jun 25	6%
Jun 25	6.14%
Jun 25	5.98%
May 25	5.8%
May 25	5.76%
May 25	5.68%
May 25	5.94%
May 25	6.04%
Apr 25	6.1%
Apr 25	6.23%
Apr 25	6.25%
Apr 25	6.04%
Mar 25	4.44%
Mar 25	4.23%
Mar 25	4.08%
Mar 25	3.93%
Feb 25	3.98%
Feb 25	3.84%
Feb 25	3.81%
Feb 25	4.02%
Jan 25	3.95%
Jan 25	4.01%
Jan 25	4.14%
Jan 25	4.17%
Jan 25	4.17%
Dec 24	5.82%
Dec 24	6.03%
Dec 24	5.95%
Dec 24	5.89%
Nov 24	6.21%
Nov 24	6.03%
Nov 24	5.91%
Nov 24	5.9%
Nov 24	5.72%
Oct 24	5.34%

Price to Sales

UPM.HE Price to Sales by year
Period	Price to Sales
Sep 26	1.48
Sep 26	1.46
Sep 26	1.38
Aug 26	1.36
Aug 26	1.34
Aug 26	1.31
Aug 26	1.34
Jul 26	1.34
Jul 26	1.28
Jul 26	1.33
Jul 26	1.32
Jul 26	1.33
Jun 26	1.27
Jun 26	1.32
Jun 26	1.35
Jun 26	1.38
May 26	1.37
May 26	1.37
May 26	1.37
May 26	1.38
Apr 26	1.39
Apr 26	1.37
Apr 26	1.45
Apr 26	1.46
Apr 26	1.46
Mar 26	1.37
Mar 26	1.33
Mar 26	1.38
Mar 26	1.4
Feb 26	1.43
Feb 26	1.43
Feb 26	1.46
Feb 26	1.33
Jan 26	1.24
Jan 26	1.28
Jan 26	1.3
Jan 26	1.3
Jan 26	1.33
Dec 25	1.24
Dec 25	1.24
Dec 25	1.23
Dec 25	1.25
Nov 25	1.22
Nov 25	1.18
Nov 25	1.24
Nov 25	1.18
Oct 25	1.2
Oct 25	1.22
Oct 25	1.15
Oct 25	1.13
Oct 25	1.22
Sep 25	1.19
Sep 25	1.18
Sep 25	1.19
Sep 25	1.22
Aug 25	1.25
Aug 25	1.3
Aug 25	1.24
Aug 25	1.26
Aug 25	1.16
Jul 25	1.26
Jul 25	1.19
Jul 25	1.24
Jul 25	1.22
Jun 25	1.22
Jun 25	1.22
Jun 25	1.19
Jun 25	1.22
May 25	1.26
May 25	1.27
May 25	1.29
May 25	1.23
May 25	1.21
Apr 25	1.2
Apr 25	1.17
Apr 25	1.17
Apr 25	1.21
Mar 25	1.32
Mar 25	1.38
Mar 25	1.43
Mar 25	1.49
Feb 25	1.47
Feb 25	1.52
Feb 25	1.53
Feb 25	1.45
Jan 25	1.48
Jan 25	1.46
Jan 25	1.41
Jan 25	1.4
Jan 25	1.4
Dec 24	1.38
Dec 24	1.33
Dec 24	1.35
Dec 24	1.36
Nov 24	1.29
Nov 24	1.33
Nov 24	1.36
Nov 24	1.36
Nov 24	1.4
Oct 24	1.5

EV/EBITDA

UPM.HE EV/EBITDA by year
Period	EV/EBITDA
Sep 26	12.08
Sep 26	11.97
Sep 26	11.38
Aug 26	11.29
Aug 26	11.16
Aug 26	10.91
Aug 26	11.16
Jul 26	11.11
Jul 26	10.7
Jul 26	11.08
Jul 26	10.96
Jul 26	11.04
Jun 26	11.07
Jun 26	11.39
Jun 26	11.61
Jun 26	11.83
May 26	11.74
May 26	11.79
May 26	11.74
May 26	11.85
Apr 26	11.9
Apr 26	11.74
Apr 26	12.29
Apr 26	12.35
Apr 26	12.37
Mar 26	12.76
Mar 26	12.48
Mar 26	12.88
Mar 26	12.97
Feb 26	13.2
Feb 26	13.2
Feb 26	13.43
Feb 26	12.49
Jan 26	11.77
Jan 26	12.07
Jan 26	12.28
Jan 26	12.27
Jan 26	12.47
Dec 25	10.1
Dec 25	10.1
Dec 25	10.01
Dec 25	10.16
Nov 25	9.92
Nov 25	9.72
Nov 25	10.07
Nov 25	9.69
Oct 25	9.84
Oct 25	9.97
Oct 25	9.51
Oct 25	9.37
Oct 25	9.95
Sep 25	9.93
Sep 25	9.84
Sep 25	9.92
Sep 25	10.15
Aug 25	10.34
Aug 25	10.69
Aug 25	10.26
Aug 25	10.4
Aug 25	9.71
Jul 25	10.4
Jul 25	9.93
Jul 25	10.24
Jul 25	10.11
Jun 25	9.16
Jun 25	9.16
Jun 25	8.99
Jun 25	9.19
May 25	9.41
May 25	9.48
May 25	9.58
May 25	9.24
May 25	9.11
Apr 25	9.04
Apr 25	8.89
Apr 25	8.86
Apr 25	9.12
Mar 25	10.96
Mar 25	11.41
Mar 25	11.75
Mar 25	12.13
Feb 25	12
Feb 25	12.37
Feb 25	12.47
Feb 25	11.9
Jan 25	12.09
Jan 25	11.93
Jan 25	11.61
Jan 25	11.55
Jan 25	11.54
Dec 24	14.41
Dec 24	14
Dec 24	14.15
Dec 24	14.28
Nov 24	13.66
Nov 24	14
Nov 24	14.24
Nov 24	14.26
Nov 24	14.63
Oct 24	15.49

Price/Operating Cashflow

UPM.HE Price/Operating Cashflow by year
Period	Price/Operating Cashflow
Sep 26	11.69
Sep 26	11.56
Sep 26	10.87
Aug 26	10.77
Aug 26	10.62
Aug 26	10.32
Aug 26	10.61
Jul 26	10.55
Jul 26	10.08
Jul 26	10.52
Jul 26	10.38
Jul 26	10.47
Jun 26	8.74
Jun 26	9.05
Jun 26	9.27
Jun 26	9.49
May 26	9.4
May 26	9.45
May 26	9.4
May 26	9.51
Apr 26	9.56
Apr 26	9.4
Apr 26	9.94
Apr 26	10
Apr 26	10.02
Mar 26	10.88
Mar 26	10.58
Mar 26	11
Mar 26	11.1
Feb 26	11.34
Feb 26	11.34
Feb 26	11.58
Feb 26	10.59
Jan 26	9.82
Jan 26	10.14
Jan 26	10.36
Jan 26	10.36
Jan 26	10.56
Dec 25	9.91
Dec 25	9.91
Dec 25	9.8
Dec 25	9.99
Nov 25	9.69
Nov 25	9.44
Nov 25	9.87
Nov 25	9.41
Oct 25	9.59
Oct 25	9.75
Oct 25	9.18
Oct 25	9
Oct 25	9.73
Sep 25	9.44
Sep 25	9.34
Sep 25	9.43
Sep 25	9.7
Aug 25	9.92
Aug 25	10.34
Aug 25	9.83
Aug 25	10
Aug 25	9.18
Jul 25	10
Jul 25	9.44
Jul 25	9.8
Jul 25	9.65
Jun 25	9.3
Jun 25	9.31
Jun 25	9.1
Jun 25	9.34
May 25	9.63
May 25	9.71
May 25	9.84
May 25	9.42
May 25	9.25
Apr 25	9.15
Apr 25	8.98
Apr 25	8.94
Apr 25	9.26
Mar 25	10.9
Mar 25	11.43
Mar 25	11.85
Mar 25	12.31
Feb 25	12.14
Feb 25	12.6
Feb 25	12.71
Feb 25	12.02
Jan 25	12.25
Jan 25	12.07
Jan 25	11.68
Jan 25	11.6
Jan 25	11.59
Dec 24	8.67
Dec 24	8.37
Dec 24	8.48
Dec 24	8.57
Nov 24	8.12
Nov 24	8.37
Nov 24	8.54
Nov 24	8.56
Nov 24	8.82
Oct 24	9.45

Price to Book

UPM.HE Price to Book by year
Period	Price to Book
Sep 26	1.33
Sep 26	1.31
Sep 26	1.23
Aug 26	1.22
Aug 26	1.21
Aug 26	1.17
Aug 26	1.2
Jul 26	1.2
Jul 26	1.14
Jul 26	1.19
Jul 26	1.18
Jul 26	1.19
Jun 26	1.19
Jun 26	1.23
Jun 26	1.26
Jun 26	1.29
May 26	1.28
May 26	1.28
May 26	1.28
May 26	1.29
Apr 26	1.3
Apr 26	1.28
Apr 26	1.35
Apr 26	1.36
Apr 26	1.36
Mar 26	1.31
Mar 26	1.28
Mar 26	1.33
Mar 26	1.34
Feb 26	1.37
Feb 26	1.37
Feb 26	1.4
Feb 26	1.28
Jan 26	1.19
Jan 26	1.22
Jan 26	1.25
Jan 26	1.25
Jan 26	1.28
Dec 25	1.23
Dec 25	1.23
Dec 25	1.21
Dec 25	1.24
Nov 25	1.2
Nov 25	1.17
Nov 25	1.22
Nov 25	1.17
Oct 25	1.19
Oct 25	1.21
Oct 25	1.14
Oct 25	1.12
Oct 25	1.21
Sep 25	1.16
Sep 25	1.15
Sep 25	1.16
Sep 25	1.2
Aug 25	1.22
Aug 25	1.27
Aug 25	1.21
Aug 25	1.23
Aug 25	1.13
Jul 25	1.23
Jul 25	1.16
Jul 25	1.21
Jul 25	1.19
Jun 25	1.09
Jun 25	1.09
Jun 25	1.06
Jun 25	1.09
May 25	1.13
May 25	1.14
May 25	1.15
May 25	1.1
May 25	1.08
Apr 25	1.07
Apr 25	1.05
Apr 25	1.05
Apr 25	1.08
Mar 25	1.21
Mar 25	1.26
Mar 25	1.31
Mar 25	1.36
Feb 25	1.34
Feb 25	1.39
Feb 25	1.41
Feb 25	1.33
Jan 25	1.36
Jan 25	1.34
Jan 25	1.29
Jan 25	1.28
Jan 25	1.28
Dec 24	1.28
Dec 24	1.23
Dec 24	1.25
Dec 24	1.26
Nov 24	1.2
Nov 24	1.23
Nov 24	1.26
Nov 24	1.26
Nov 24	1.3
Oct 24	1.39

No video analysis for this stock yet. Request one from our team.

AI Analysis

UPM-Kymmene Oyj

Video analysis: UPM.HE

Similar companies