• Forum
  • Stock Markets
    • MarketsLive prices, indices, and market performance
    • Morning ReviewDaily market recap and key overnight highlights
    • Stock CalendarUpcoming earnings, listings, and corporate events
    • Dividends CalendarFuture and past dividends
  • Companies
    • CompaniesBrowse and filter the full list of listed companies
    • DiscoveryInspiration for your next investment
    • IPOsNew listings and upcoming public offerings
    • AGM InvitationsAnnual general meeting dates and shareholder info
  • Stock Research
    • ResearchExpert stock analysis and recommendations
    • ArticlesNews, insights, and market commentary
    • PortfolioInderes model portfolio
    • inderesTVVideo hub for stock research, analysis, and expert commentary
    • TranscriptsFull text records of earnings calls and investor meetings
    • Stock ComparisonCompare financials and performance across multiple stocks
Find us on social media
  • Inderes Forum
  • Youtube
  • Instagram
  • Facebook
  • X (Twitter)
Get in touch
  • info@inderes.se
  • +46 8 411 43 80
  • Vattugatan 17, 5tr
    111 52 Stockholm
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Q&A
  • Terms of service
  • Privacy policy
  • Disclaimer

Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

UPM-Kymmene

25.05 EUR

-0.08 %

21,660 following

UPM

NASDAQ Helsinki

Paper & Forest Products

Basic Materials

Overview
Financials & Estimates
Dividend
Investor consensus
Compare
-0.08 %
-1.65 %
-5.36 %
+1.05 %
+7.83 %
+4.90 %
-12.53 %
-22.37 %
+210.29 %

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.

Read more
Market cap
13.22B EUR
Turnover
605.19K EUR
P/E (adj.) (26e)
16.22
EV/EBIT (adj.) (26e)
14.63
P/B (26e)
1.32
EV/S (26e)
1.6
Dividend yield-% (26e)
5.99 %
Coverage
Recommendation
Reduce
Target price
24.00 EUR
Updated
2026-04-29
Antti Viljakainen
Antti Viljakainen

Head of Research

Latest research

Latest analysis report

Released: 2026-04-30

Revenue and EBIT-%
EPS and dividend
Financial calendar
Risk
Business risk
Valuation risk
Low
High
All
Research
Webcasts
Press releases
ShowingAll content types

Forum discussions
There has been surprisingly little discussion so far about UPM’s upcoming WISA spin-off, even though I think it’s a rather interesting corporate restructuring. In the video, I went through: – what the partial demerger means for the investor in practice – how the 1:1 distribution ...
5/28/2026, 6:28 PM
22
Quote from @Antti_Viljakainen’s comments: “In our assessment, the clearest risk to the completion of the arrangement has been the stance of the competition authorities from the very beginning, considering the high combined local market shares of the companies. In our opinion, this...
5/29/2026, 5:17 AM
by PörssiPatruuna
20
The paper merger of UPM and Sappi in Europe is progressing, with the agreement including financing now signed. Regulatory approvals are pending. A divestment was also mentioned, occurring in 3 years at the earliest. According to the definitive agreement: UPM and Sappi will invest...
5/28/2026, 7:32 AM
by Opa
18
Stora Enso plans to reduce softwood pulp production in Sweden. Although the pulp line slated for closure is small, it is good news for Metsä’s and UPM’s pulp mills in Finland, as competing capacity is removed and wood demand in the Nordic region drops slightly. https://www.storaenso...
5/26/2026, 8:52 AM
by Logitech
18
It will be interesting to see how capacity is closed if/when the deal reaches the finish line. Personally, I bet the cuts will initially target Sappi’s current units, while UPM’s facilities will likely avoid closures at first. My own guess list: SAPPI’s entire Kirkniemi mill to be...
5/28/2026, 5:34 PM
by Logitech
11
Agreed. Under the Commission’s old playbook, the UPM/Sappi setup would have run into obvious difficulties, whereas with the new thinking, a breakthrough is possible to envision. However, there is still very little evidence of the updated playbook being applied, and of course, the...
5/29/2026, 6:19 AM
by Antti Viljakainen
10
Here are Antti’s comments regarding UPM’s agreement to form a graphic paper joint venture with Sappi. As expected, UPM announced it has entered into a definitive agreement for a graphic paper joint venture with Sappi. We assess the arrangement to be a slightly positive step for the...
5/29/2026, 4:59 AM
by Sijoittaja-alokas
6
Read more on our forum
Revenue and EBIT-%

Revenue B

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
23/7
2026

Interim report Q2'26

28/10
2026

Interim report Q3'26

30/10
2026

Half year dividend

Regulatory press release47 minutes ago

Changes in UPM's Group Executive Team: Joonas Rauramo appointed Executive Vice President, UPM Energy

UPM-Kymmene
UPM:s och Sappis fusion av pappersaffärsområden är i praktiken endast beroende av konkurrensmyndigheterna
Analyst Comment5/29/2026, 4:00 AM by
Antti Viljakainen

UPM:s och Sappis fusion av pappersaffärsområden är i praktiken endast beroende av konkurrensmyndigheterna

Konkurrensmyndigheternas inställning till arrangemanget är fortfarande svår att bedöma.

UPM-Kymmene
Regulatory press release5/28/2026, 6:27 AM

Inside information: UPM and Sappi have signed a definitive agreement on the graphic paper Joint Venture

UPM-Kymmene

Join Inderes community

Research, tools and community to support better investment decisions.

Inderes account
Follow companies and get notifications on the ones you track
Analysts' recommendations and comments
Stock comparison tool and other popular tools
Create account
Press release5/13/2026, 4:00 PM

UPM-Kymmene Oyj: UPM acquires Ray Technology® intellectual property from Avantium, broadening its bio-based glycols IP portfolio

UPM-Kymmene
Press release5/7/2026, 12:00 PM

UPM-Kymmene Oyj: UPM introduces receipt materials for order accuracy at quick-service restaurants

UPM-Kymmene
Press release5/5/2026, 12:00 PM

UPM-Kymmene Oyj: UPM introduces a new portfolio of label solutions designed for packaging recyclability

UPM-Kymmene
Press release5/4/2026, 7:00 AM

UPM-Kymmene Oyj: UPM again among the leading companies in the Dow Jones World and European Sustainability Indices

UPM-Kymmene
Regulatory press release4/30/2026, 3:00 PM

UPM-Kymmene Oyj: UPM-Kymmene Corporation: Managers' Transactions (Groth)

UPM-Kymmene
Regulatory press release4/30/2026, 3:00 PM

UPM-Kymmene Oyj: UPM-Kymmene Corporation: Managers' Transactions (Maas-Brunner)

UPM-Kymmene
Regulatory press release4/30/2026, 3:00 PM

UPM-Kymmene Oyj: UPM-Kymmene Corporation: Managers' Transactions (Kekki)

UPM-Kymmene
Regulatory press release4/30/2026, 3:00 PM

UPM-Kymmene Oyj: UPM-Kymmene Corporation: Managers' Transactions (Gustafsson)

UPM-Kymmene
Regulatory press release4/30/2026, 3:00 PM

UPM-Kymmene Oyj: UPM-Kymmene Corporation: Managers' Transactions (Karhu)

UPM-Kymmene
Regulatory press release4/30/2026, 3:00 PM

UPM-Kymmene Oyj: UPM-Kymmene Corporation: Managers' Transactions (Aaltonen-Forsell)

UPM-Kymmene
Regulatory press release4/30/2026, 3:00 PM

UPM-Kymmene Oyj: UPM-Kymmene Corporation: Managers' Transactions (à Porta)

UPM-Kymmene
Regulatory press release4/30/2026, 3:00 PM

UPM-Kymmene Oyj: UPM-Kymmene Corporation: Managers' Transactions (Ehrnrooth)

UPM-Kymmene
Regulatory press release4/30/2026, 3:00 PM

UPM-Kymmene Oyj: UPM-Kymmene Corporation: Managers' Transactions (Oudeman)

UPM-Kymmene
Regulatory press release4/30/2026, 3:00 PM

UPM-Kymmene Oyj: UPM-Kymmene Corporation: Managers' Transactions (Manner)

UPM-Kymmene
UPM Q1'26: Vi behåller vår bevakningsposition
Research4/30/2026, 5:28 AM by
Antti Viljakainen

UPM Q1'26: Vi behåller vår bevakningsposition

Den övergripande bilden av UPM:s Q1-rapport var enligt vår mening ganska neutral. Vi gjorde inga betydande estimatrevideringar efter rapporten. Aktien är inte billig på kort sikt (2026e: P/E 16x), även om resultatet förväntas vända till tillväxt från en låg nivå i år, trots risker relaterade till verksamhetsmiljön. Därmed upprepar vi vår riktkurs på 24,00 EUR och vår Minska-rekommendation för UPM.

UPM-Kymmene
UPM Interim Report for January–March 2026
Webcast4/29/2026, 10:15 AM

UPM Interim Report for January–March 2026

UPM-Kymmene
Regulatory press release4/29/2026, 9:00 AM

UPM-Kymmene Oyj: The Board of Directors of UPM-Kymmene Corporation has approved a demerger plan concerning the separation of the Plywood business into a new listed company

UPM-Kymmene