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Finnish (OMX) Materials Sector Analysis

UpdatedJan 23, 2026
DataAggregated Company Financials
Companies11
  • 7D-1.1%
  • 3M4.4%
  • 1Y-2.3%
  • YTD-1.1%

Over the last 7 days, the Materials industry has dropped 4.1%, driven by a pullback from Stora Enso Oyj of 2.0%. On the other hand Afarak Group is actually up 45%. Overall the industry is down 5.2% in 12 months. As for the next few years, earnings are expected to grow by 38% per annum.

Sector Valuation and Performance

Has the Finnish Materials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 23 Jan 2026€31.7b€34.3b€350.1m25x90.5x0.9x
Sun, 21 Dec 2025€30.6b€34.3b€350.1m23.2x87.3x0.9x
Tue, 18 Nov 2025€29.8b€34.3b€350.1m23.7x85.2x0.9x
Thu, 16 Oct 2025€28.2b€34.8b€589.3m20.5x47.9x0.8x
Sat, 13 Sep 2025€29.4b€34.8b€589.3m20.8x49.9x0.8x
Mon, 11 Aug 2025€30.8b€34.8b€583.7m20.8x52.7x0.9x
Wed, 09 Jul 2025€29.7b€35.0b€630.3m31.4x47.2x0.8x
Fri, 06 Jun 2025€29.3b€35.0b€630.3m30.1x46.5x0.8x
Sun, 04 May 2025€28.6b€34.9b€623.4m30.5x45.9x0.8x
Tue, 01 Apr 2025€29.9b€34.8b€741.1m24.8x40.4x0.9x
Thu, 27 Feb 2025€34.4b€34.9b€759.0m26.9x45.3x1x
Sat, 25 Jan 2025€33.5b€34.7b€809.4m18.7x41.4x1x
Mon, 23 Dec 2024€30.7b€34.7b€809.4m17.5x37.9x0.9x
Wed, 20 Nov 2024€31.1b€34.7b€809.4m17x38.4x0.9x
Fri, 18 Oct 2024€34.4b€34.7b€332.2m19.7x103.5x1x
Sun, 15 Sep 2024€35.2b€34.7b€332.2m18.5x105.9x1x
Tue, 13 Aug 2024€35.1b€34.7b€343.8m16.7x102.2x1x
Thu, 11 Jul 2024€38.6b€35.3b€211.8m20x182.2x1.1x
Sat, 08 Jun 2024€40.1b€35.3b€211.8m19.5x189.3x1.1x
Mon, 06 May 2024€39.6b€35.8b€338.3m19.2x117x1.1x
Wed, 03 Apr 2024€38.0b€36.8b€431.4m16.5x88.2x1x
Fri, 01 Mar 2024€36.6b€36.8b€431.4m15.6x84.9x1x
Sun, 28 Jan 2024€39.0b€39.0b€2.4b12.2x16.4x1x
Tue, 26 Dec 2023€39.6b€39.0b€2.4b11.7x16.6x1x
Thu, 23 Nov 2023€36.6b€39.0b€2.4b11.3x15.4x0.9x
Sat, 21 Oct 2023€35.3b€41.9b€3.8b8.4x9.2x0.8x
Mon, 18 Sep 2023€37.3b€41.9b€3.8b8.6x9.7x0.9x
Wed, 16 Aug 2023€34.1b€42.0b€3.9b8x8.9x0.8x
Fri, 14 Jul 2023€35.5b€43.5b€4.9b6.7x7.2x0.8x
Sun, 11 Jun 2023€36.9b€43.5b€4.9b7x7.5x0.8x
Tue, 09 May 2023€37.1b€44.3b€5.1b6.8x7.3x0.8x
Thu, 06 Apr 2023€37.2b€44.0b€5.1b6.1x7.2x0.8x
Sat, 04 Mar 2023€42.0b€44.0b€5.1b7.2x8.2x1x
Mon, 30 Jan 2023€40.4b€43.4b€4.8b7.1x8.5x0.9x
Price to Earnings Ratio

8.5x


Total Market Cap: €40.4bTotal Earnings: €4.8bTotal Revenue: €43.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Materials Sector Price to Earnings3Y Average 55.2x202420252026
Current Industry PE
  • Investors are optimistic on the Finnish Materials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 88.1x which is higher than its 3-year average PE of 55.1x.
  • The industry is trading close to its 3-year average PS ratio of 0.93x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 58% per year over the last three years,
  • Revenues have also declined 7.6% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Finnish Materials sector?

FI Market-0.51%
Materials-1.09%
Basic Materials4.55%
Metals and Mining2.23%
Paper and Forestry Products-1.29%
Chemicals-1.53%
Packaging-1.86%
Industry PE
  • Investors are most optimistic about the Paper and Forestry Products industry which is trading above its 3-year average PE ratio of 142x.
    • Analysts are expecting annual earnings growth of 38.2%, which is higher than its past year's earnings decline of 42.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Metals and Mining industry, expecting annual earnings growth of 67% over the next 5 years.
  • In contrast, the Chemicals industry is expected to see its earnings grow by 11% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
AFAGR Afarak Group€0.3845.5%
+€31.4m		11.6%PS0.7x
PAMPALO Endomines Finland Oyj€30.957.1%
+€24.5m		249.3%PE102.9x
OUT1V Outokumpu Oyj€4.900.2%
+€4.7m		65.5%PS0.4x
SFOODS Solar Foods Oyj€5.721.1%
+€1.5m		25.3%PS28.6x
BETOLAR Betolar Oyj€1.154.5%
+€1.1m		76.9%PS27.5x

Latest News

OUT1V
€4.90
Outokumpu Oyj
7D
0.2%
1Y
65.5%

OUT1V: Future Returns Will Balance Restructuring Progress With Low Carbon Metal Expansion

Analysts have nudged their price expectations for Outokumpu Oyj higher, with our fair value estimate moving from €4.30 to €4.55 as they weigh mixed recent calls, including a higher €4.20 target from JPMorgan alongside more cautious revisions from Deutsche Bank and Morgan Stanley, and factor these into slightly adjusted assumptions on discount rate, revenue growth, profit margins and future P/E. Analyst Commentary Recent Street research on Outokumpu highlights a split view, with some seeing room for upside as estimates and targets are recalibrated, while others focus on execution risk after the latest quarterly report.
STERV
€10.52
Stora Enso Oyj
7D
-2.0%
1Y
4.4%

STERV: Higher Future P/E And EBIT Guidance Will Support Bullish Repricing

Stora Enso Oyj's updated analyst narrative reflects a slightly lower fair value estimate of €13.55, with the modest upward revisions to price targets from €10.70 to €10.90 and from €10.10 to €11.50, offset by a trim to €9.80, as analysts balance expectations for revenue growth, profit margins, and a higher future P/E multiple. Analyst Commentary Recent research updates on Stora Enso Oyj show a mix of views, with several bullish analysts lifting their price targets into a range between €10.90 and €11.50.
AFAGR
€0.38
Afarak Group
7D
45.5%
1Y
11.6%
KEMIRA
€20.26
Kemira Oyj
7D
-1.7%
1Y
-1.7%

KEMIRA: Fair Outlook Balances Revenue Guidance, Dividend Timing And New CFO Transition

Analysts have slightly reduced their price target for Kemira Oyj from €23.28 to €22.60. This reflects updated assumptions that include a different discount rate, revenue growth outlook, profit margin profile and future P/E expectations.
PAMPALO
€30.95
Endomines Finland Oyj
7D
7.1%
1Y
249.3%
HUH1V
€30.32
Huhtamäki Oyj
7D
-1.2%
1Y
-11.8%

Is There An Opportunity With Huhtamäki Oyj's (HEL:HUH1V) 49% Undervaluation?

Jan 16
Is There An Opportunity With Huhtamäki Oyj's (HEL:HUH1V) 49% Undervaluation?
METSB
€2.88
Metsä Board Oyj
7D
-3.8%
1Y
-34.9%
UPM
€24.42
UPM-Kymmene Oyj
7D
-0.8%
1Y
-9.3%

UPM: Future Returns Will Hinge On Pulp Prices And Mill Restructuring

Analysts have raised their fair value estimate for UPM-Kymmene slightly to about €25.81 and lowered their price targets, as they incorporate more cautious assumptions on revenue growth, profit margins and future P/E multiples following a series of reduced Street targets between €22 and €27.50. Analyst Commentary Recent Street research on UPM-Kymmene Oyj has tilted more cautious on near term upside, even as some firms maintain constructive views on the shares.
SFOODS
€5.72
Solar Foods Oyj
7D
1.1%
1Y
25.3%
BETOLAR
€1.15
Betolar Oyj
7D
4.5%
1Y
76.9%