Holmen HOLM-B.ST
SwedenBasic Materials · Paper & Paper ProductsNasdaq Estocolmo · SEK
346.88 SEK (+8.7%)
8 analysts
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Holmen AB is a Swedish forestry and paper company that manages forests and produces paper, cardboard, and wood products, with an integrated model combining its own forest resources with industrial operations.
Listed on Nasdaq Estocolmo · Symbol HOLM-B.ST · STO: HOLM-B · Currency SEK
Key points
from its scores- ✓Favourable backdrop9.0
- ✓Attractive dividend7.1
- ✕Poor share-price trend2.2
- ✕Little competitive advantage3.4
- ✕Weak growth3.4
AI analysis
bottom line, main risk, context and newsThe stability of the forestry business and the dividend offset low profitability, but there are no clear catalysts for improvement.
Holmen shows acceptable financial health (Net Debt/EBITDA of 2.03) but weak quality and growth (ROE 4.80%, earnings -13.20%), with average valuation (P/E 18.44) and a sustainable dividend (payout 54.91%). The forestry business provides stability, but return on capital is low and momentum is negative.
The structural decline in paper demand and low return on capital (ROIC 2.61%) are the main risks for Holmen, which could erode long-term value.
Context and risks
Holmen's forestry and paper products business is subject to environmental and forest management regulation in Sweden, a country with solid governance but where the paper sector faces regulatory and structural demand pressure. Interest rate exposure is moderate (Net Debt/EBITDA of 2.03), with no material geopolitical risk.
Is Holmen stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 31% above the Basic Materials median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 18.4 | 19.2 | −4% |
| EV / EBITDA | 16.5 | 10.0 | +66% |
| Price / book | 0.9 | 2.3 | −61% |
| Price / sales | 2.2 | 2.2 | −0% |
Sector: median of the 141 Basic Materials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 5.3 out of 10 (median for Basic Materials: 5.8).
Average analyst target: 346.88 SEK, +8.7% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 3.4 (sector 5.1), Growth 3.4 (sector 6.8).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Basic Materials medianValuation
- P/E
- 18.4
- Forward P/E
- 15.3
- EV / EBITDA
- 16.5
- Price / book
- 0.9
- Price / sales
- 2.2
- PEG
- 4.94
- Market cap
- 48.9B SEK
- Enterprise value
- 54.7B SEK
Profitability
- ROE
- 4.8%
- ROA
- 1.5%
- ROIC (approx.)
- 2.6%
- Gross margin
- 45.6%
- Operating margin
- 7.2%
- Net margin
- 11.9%
- Free cash flow
- 748.2M SEK
- FCF yield
- 1.5%
- Cash conversion
- 23%
Solvency
- Total debt
- 6.9B SEK
- Net debt
- 6.7B SEK
- Cash
- 182.0M SEK
- EBITDA
- 3.3B SEK
- Net debt / EBITDA
- 2.03
- Debt / equity
- 12.77
- Current ratio
- 1.25
- Quick ratio
- 0.59
Growth
- Revenue growth
- +1.1%
- Earnings growth
- −13.2%
- EPS (TTM)
- 17.30 SEK
- EPS (forward)
- 20.86 SEK
Dividend
- Dividend yield
- 3.0%
- Payout
- 54.9%
Risk and market
- Beta
- 0.22
- Analyst consensus
- Buy (8)
- Target price
- 346.88 SEK
- 52-week range
- 293.80 – 380.60
Recent news
All HOLM-B.ST news →Compare it with its sector
All 141 in Basic Materials →Frequently asked questions about Holmen
Is Holmen stock cheap or expensive?
On P/E and EV / EBITDA, it trades 31% above the Basic Materials median on average. Valuation score: 5.3 out of 10 (median for Basic Materials: 5.8). Average analyst target: 346.88 SEK, +8.7% versus the price. This is not investment advice.
What score does Holmen get on MeridIAn Screener?
It scores 5.3 out of 10, rank 1,532 of 2,130 (better than 26% of the companies analysed). Its strongest category is Risk & Context (9.0) and its weakest, Momentum (2.2). Analysis of 08/10/2026.
What is Holmen's P/E ratio?
Its P/E is 18.4: the share price equals 18.4 times earnings per share over the last 12 months. The Basic Materials median is 19.2. Based on the earnings analysts expect, the forward P/E is 15.3.
How much is Holmen worth on the stock market?
Its market capitalisation is 48.9B SEK and its enterprise value, debt included, is 54.7B SEK.
How much debt does Holmen have?
Its net debt (debt minus cash) is 6.7B SEK. That is 2.03 times its EBITDA; the Basic Materials median is 1.41.
Does Holmen pay a dividend?
Yes: its dividend yield is 2.98% and it pays out 55% of its earnings.
How has Holmen stock performed over the last year?
It has fallen 4.3% over the last year, excluding dividends. Over the last 52 weeks it has traded between 293.80 and 380.60 SEK. Past performance does not guarantee future results.
What do analysts think of Holmen?
8 analysts cover it; their average recommendation is “Buy” and their average target is 346.88 SEK (+8.7% versus the price). It is an estimate, not market data.