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Stora Enso Oyj

HLSE:STERV
Snowflake Description

Excellent balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
STERV
HLSE
€9B
Market Cap
  1. Home
  2. FI
  3. Materials
Company description

Stora Enso Oyj provides renewable solutions for the packaging, biomaterials, wooden constructions, and paper industries worldwide. The last earnings update was 63 days ago. More info.


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STERV Share Price and Events
7 Day Returns
-3.5%
HLSE:STERV
-4.7%
FI Forestry
-1.2%
FI Market
1 Year Returns
-31.5%
HLSE:STERV
-18%
FI Forestry
2.1%
FI Market
STERV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Stora Enso Oyj (STERV) -3.5% -4.8% -3.5% -31.5% 47.6% 53.1%
FI Forestry -4.7% -3.3% -1% -18% 5.8% 35%
FI Market -1.2% -1.9% 5.7% 2.1% 21.5% 36.3%
1 Year Return vs Industry and Market
  • STERV underperformed the Forestry industry which returned -18% over the past year.
  • STERV underperformed the Market in Finland which returned 2.1% over the past year.
Price Volatility
STERV
Industry
5yr Volatility vs Market

STERV Value

 Is Stora Enso Oyj undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Stora Enso Oyj to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Stora Enso Oyj.

HLSE:STERV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year FI Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for HLSE:STERV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FI Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.5%
Forestry Unlevered Beta Simply Wall St/ S&P Global 1.29
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.288 (1 + (1- 20%) (36.12%))
1.442
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.44
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (1.442 * 6.51%)
9.93%

Discounted Cash Flow Calculation for HLSE:STERV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Stora Enso Oyj is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

HLSE:STERV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.93%)
2019 890.00 Analyst x7 809.61
2020 818.63 Analyst x8 677.42
2021 877.14 Analyst x7 660.29
2022 974.00 Analyst x1 666.98
2023 955.00 Analyst x1 594.90
2024 943.37 Est @ -1.22% 534.58
2025 936.86 Est @ -0.69% 482.94
2026 933.84 Est @ -0.32% 437.90
2027 933.26 Est @ -0.06% 398.10
2028 934.36 Est @ 0.12% 362.57
Present value of next 10 years cash flows €5,625.30
HLSE:STERV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €934.36 × (1 + 0.54%) ÷ (9.93% – 0.54%)
€10,005.46
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €10,005.46 ÷ (1 + 9.93%)10
€3,882.56
HLSE:STERV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €5,625.30 + €3,882.56
€9,507.85
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €9,507.85 / 788.62
€12.06
HLSE:STERV Discount to Share Price
Calculation Result
Value per share (EUR) From above. €12.06
Current discount Discount to share price of €11.38
= -1 x (€11.38 - €12.06) / €12.06
5.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Stora Enso Oyj is available for.
Intrinsic value
6%
Share price is €11.38 vs Future cash flow value of €12.06
Current Discount Checks
For Stora Enso Oyj to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Stora Enso Oyj's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Stora Enso Oyj's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Stora Enso Oyj's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Stora Enso Oyj's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
HLSE:STERV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €1.28
HLSE:STERV Share Price ** HLSE (2019-04-18) in EUR €11.38
Europe Forestry Industry PE Ratio Median Figure of 32 Publicly-Listed Forestry Companies 11.95x
Finland Market PE Ratio Median Figure of 109 Publicly-Listed Companies 19.87x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Stora Enso Oyj.

HLSE:STERV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HLSE:STERV Share Price ÷ EPS (both in EUR)

= 11.38 ÷ 1.28

8.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Stora Enso Oyj is good value based on earnings compared to the Europe Forestry industry average.
  • Stora Enso Oyj is good value based on earnings compared to the Finland market.
Price based on expected Growth
Does Stora Enso Oyj's expected growth come at a high price?
Raw Data
HLSE:STERV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
-4.4%per year
Europe Forestry Industry PEG Ratio Median Figure of 21 Publicly-Listed Forestry Companies 1.09x
Finland Market PEG Ratio Median Figure of 91 Publicly-Listed Companies 1.76x

*Line of best fit is calculated by linear regression .

HLSE:STERV PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.86x ÷ -4.4%

-2.02x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Stora Enso Oyj earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Stora Enso Oyj's assets?
Raw Data
HLSE:STERV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €8.51
HLSE:STERV Share Price * HLSE (2019-04-18) in EUR €11.38
Europe Forestry Industry PB Ratio Median Figure of 36 Publicly-Listed Forestry Companies 1.35x
Finland Market PB Ratio Median Figure of 142 Publicly-Listed Companies 2.02x
HLSE:STERV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HLSE:STERV Share Price ÷ Book Value per Share (both in EUR)

= 11.38 ÷ 8.51

1.34x

* Primary Listing of Stora Enso Oyj.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Stora Enso Oyj is good value based on assets compared to the Europe Forestry industry average.
X
Value checks
We assess Stora Enso Oyj's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Forestry industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Forestry industry average (and greater than 0)? (1 check)
  5. Stora Enso Oyj has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

STERV Future Performance

 How is Stora Enso Oyj expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-4.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Stora Enso Oyj expected to grow at an attractive rate?
  • Stora Enso Oyj's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Stora Enso Oyj's earnings are expected to decrease over the next 1-3 years, this is below the Finland market average.
  • Stora Enso Oyj's revenue growth is positive but not above the Finland market average.
Annual Growth Rates Comparison
Raw Data
HLSE:STERV Future Growth Rates Data Sources
Data Point Source Value (per year)
HLSE:STERV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts -4.4%
HLSE:STERV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 0.7%
Europe Forestry Industry Earnings Growth Rate Market Cap Weighted Average 0.5%
Europe Forestry Industry Revenue Growth Rate Market Cap Weighted Average 2%
Finland Market Earnings Growth Rate Market Cap Weighted Average 15.6%
Finland Market Revenue Growth Rate Market Cap Weighted Average 1.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
HLSE:STERV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
HLSE:STERV Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 10,882 1,560 1
2022-12-31 10,780 1,549 1
2021-12-31 10,710 1,507 894 9
2020-12-31 10,652 1,440 871 14
2019-12-31 10,547 1,502 871 15
HLSE:STERV Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 10,486 1,092 1,013
2018-09-30 10,415 1,291 883
2018-06-30 10,339 1,247 860
2018-03-31 10,197 1,245 785
2017-12-31 10,045 1,202 625
2017-09-30 9,930 1,147 542
2017-06-30 9,844 1,115 480
2017-03-31 9,900 1,272 459
2016-12-31 9,854 1,360 463
2016-09-30 9,999 1,295 796
2016-06-30 10,076 1,356 791
2016-03-31 10,078 1,335 796

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Stora Enso Oyj's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Stora Enso Oyj's revenue is expected to grow by 0.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
HLSE:STERV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from Stora Enso Oyj Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:STERV Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.19 1.40 0.83 9.00
2020-12-31 1.17 1.32 0.82 12.00
2019-12-31 1.17 1.47 0.96 12.00
HLSE:STERV Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 1.28
2018-09-30 1.12
2018-06-30 1.09
2018-03-31 1.00
2017-12-31 0.79
2017-09-30 0.69
2017-06-30 0.61
2017-03-31 0.58
2016-12-31 0.59
2016-09-30 1.01
2016-06-30 1.00
2016-03-31 1.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Stora Enso Oyj is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Stora Enso Oyj's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Stora Enso Oyj has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

STERV Past Performance

  How has Stora Enso Oyj performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Stora Enso Oyj's growth in the last year to its industry (Forestry).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Stora Enso Oyj has delivered over 20% year on year earnings growth in the past 5 years.
  • Stora Enso Oyj's 1-year earnings growth exceeds its 5-year average (62.1% vs 37.6%)
  • Stora Enso Oyj's earnings growth has exceeded the Europe Forestry industry average in the past year (62.1% vs 26.3%).
Earnings and Revenue History
Stora Enso Oyj's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Stora Enso Oyj Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:STERV Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 10,486.00 1,013.00 2,364.00
2018-09-30 10,415.00 883.00 2,376.00
2018-06-30 10,339.00 860.00 2,385.00
2018-03-31 10,197.00 785.00 2,391.00
2017-12-31 10,045.00 625.00 2,403.00
2017-09-30 9,930.00 542.00 2,364.00
2017-06-30 9,844.00 480.00 2,357.00
2017-03-31 9,900.00 459.00 2,360.00
2016-12-31 9,854.00 463.00 2,363.00
2016-09-30 9,999.00 796.00 2,384.00
2016-06-30 10,076.00 791.00 2,406.00
2016-03-31 10,078.00 796.00 2,406.00
2015-12-31 10,094.00 807.00 2,397.00
2015-09-30 10,144.00 258.00 2,405.00
2015-06-30 10,158.00 258.00 2,404.00
2015-03-31 10,175.00 129.00 2,400.00
2014-12-31 10,252.00 99.00 2,434.00
2014-09-30 10,317.00 87.00 2,466.00
2014-06-30 10,356.00 45.00 2,454.00
2014-03-31 10,503.00 63.00 2,475.00
2013-12-31 10,607.00 -53.00 2,495.00
2013-09-30 10,746.00 346.00 2,466.00
2013-06-30 10,887.00 344.00 2,500.00
2013-03-31 10,882.00 390.00 2,501.00
2012-12-31 10,883.00 480.00 2,464.00
2012-09-30 10,769.60 316.70 2,443.70
2012-06-30 10,814.90 186.40 2,466.80

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Stora Enso Oyj has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Stora Enso Oyj used its assets more efficiently than the Europe Forestry industry average last year based on Return on Assets.
  • Stora Enso Oyj has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Stora Enso Oyj's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Forestry industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Stora Enso Oyj has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

STERV Health

 How is Stora Enso Oyj's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Stora Enso Oyj's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Stora Enso Oyj is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Stora Enso Oyj's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Stora Enso Oyj's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Stora Enso Oyj Company Filings, last reported 3 months ago.

HLSE:STERV Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 6,732.00 3,344.00 1,130.00
2018-09-30 6,459.00 3,302.00 1,005.00
2018-06-30 6,081.00 3,210.00 629.00
2018-03-31 6,188.00 3,068.00 687.00
2017-12-31 6,055.00 3,016.00 607.00
2017-09-30 5,847.00 3,043.00 418.00
2017-06-30 5,662.00 3,321.00 499.00
2017-03-31 5,968.00 3,722.00 932.00
2016-12-31 5,868.00 3,774.00 953.00
2016-09-30 5,719.00 3,848.00 781.00
2016-06-30 5,598.00 3,876.00 519.00
2016-03-31 5,612.00 3,956.00 605.00
2015-12-31 5,513.00 4,197.00 808.00
2015-09-30 5,097.00 4,191.00 798.00
2015-06-30 5,175.00 4,615.00 987.00
2015-03-31 5,531.00 4,991.00 1,321.00
2014-12-31 5,237.00 4,894.00 1,446.00
2014-09-30 5,412.00 5,136.00 1,523.00
2014-06-30 5,244.00 5,049.00 1,553.00
2014-03-31 5,354.00 5,379.00 2,018.00
2013-12-31 5,273.00 5,501.00 2,073.00
2013-09-30 5,467.00 5,147.00 2,097.00
2013-06-30 5,349.00 5,075.00 1,809.00
2013-03-31 5,861.00 5,149.00 1,743.00
2012-12-31 5,862.00 5,134.00 1,850.00
2012-09-30 5,824.30 5,211.70 1,707.80
2012-06-30 5,652.40 4,731.10 1,248.60
  • Stora Enso Oyj's level of debt (49.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (104.3% vs 49.7% today).
  • Debt is well covered by operating cash flow (32.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10x coverage).
X
Financial health checks
We assess Stora Enso Oyj's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Stora Enso Oyj has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

STERV Dividends

 What is Stora Enso Oyj's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.4%
Current annual income from Stora Enso Oyj dividends. Estimated to be 5.12% next year.
If you bought €2,000 of Stora Enso Oyj shares you are expected to receive €88 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Stora Enso Oyj's pays a higher dividend yield than the bottom 25% of dividend payers in Finland (2.21%).
  • Stora Enso Oyj's dividend is below the markets top 25% of dividend payers in Finland (4.88%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
HLSE:STERV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
Europe Forestry Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 4.2%
Finland Market Average Dividend Yield Market Cap Weighted Average of 101 Stocks 4.2%
Finland Minimum Threshold Dividend Yield 10th Percentile 1.4%
Finland Bottom 25% Dividend Yield 25th Percentile 2.2%
Finland Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

HLSE:STERV Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.62 10.00
2020-12-31 0.59 16.00
2019-12-31 0.54 14.00
HLSE:STERV Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-14 0.500 4.360
2018-02-09 0.410 2.936
2017-02-21 0.370 3.097
2017-02-03 0.370 3.687
2016-04-28 0.330 3.966
2015-04-22 0.300 3.634
2014-04-23 0.300 4.068
2013-02-05 0.300 4.862
2012-02-08 0.300 5.976
2011-02-08 0.250 4.358
2010-02-04 0.200 3.178
2009-07-22 0.200 4.091
2009-04-20 0.450 11.068

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Stora Enso Oyj's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Stora Enso Oyj's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Stora Enso Oyj afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Stora Enso Oyj has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

STERV Management

 What is the CEO of Stora Enso Oyj's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Karl-Henrik Sundström
COMPENSATION €524,000
AGE 58
TENURE AS CEO 4.7 years
CEO Bio

Mr. Karl-Henrik Sundström serves as Chief Executive Officer at Stora Enso Oyj since August 1, 2014. - Education: • B.Sc. Business studies. - Work experience: - Current position: • President and CEO, Stora Enso AB - Previous experience: • CFO and Executive Vice President, Stora Enso • Chief Financial Officer and Executive Vice President, NXP Semiconductors • CFO and Executive Vice President, Telefonaktiebolaget LM Ericsson • Head of Global Services, Telefonaktiebolaget LM Ericsson • Head of Australia and New Zealand, Telefonaktiebolaget LM Ericsson - Non Executive assignments: • Aktiemarknadsnämnden, Board Member.

CEO Compensation
  • Insufficient data for Karl-Henrik to compare compensation growth.
  • Karl-Henrik's remuneration is lower than average for companies of similar size in Finland.
Management Team Tenure

Average tenure and age of the Stora Enso Oyj management team in years:

5.2
Average Tenure
55
Average Age
  • The average tenure for the Stora Enso Oyj management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Karl-Henrik Sundström

TITLE
Chief Executive Officer
COMPENSATION
€524K
AGE
58
TENURE
4.7 yrs

Seppo Parvi

TITLE
CFO, Deputy CEO & Country Manager of Finland
AGE
54
TENURE
5.2 yrs

Joakim Alpsten

TITLE
Head of M&A and Corporate Finance

Aruna Arumugam

TITLE
Head of Human Resources and Administration

Ulla Paajanen-Sainio

TITLE
Senior VP & Head of Investor Relations
AGE
55
TENURE
9.9 yrs

Per Lyrvall

TITLE
Executive VP of Legal
AGE
59

Ulrika Lilja

TITLE
Executive Vice President of Communications
AGE
43
TENURE
4.6 yrs

Malin Bendz

TITLE
Executive Vice President of Human Resources
AGE
42
TENURE
2.4 yrs

Jarmo Alm

TITLE
Senior VP of Business Area Newsprint & Book Papers - Stora Enso Publication Paper Division
AGE
64
TENURE
15.9 yrs

Sakari Eloranta

TITLE
Senior Vice President of Pulp Competence Centre
TENURE
15.7 yrs
Board of Directors Tenure

Average tenure and age of the Stora Enso Oyj board of directors in years:

2
Average Tenure
62
Average Age
  • The average tenure for the Stora Enso Oyj board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jorma Eloranta

TITLE
Chairman of the Board
COMPENSATION
€200K
AGE
67
TENURE
2 yrs

Hans Stråberg

TITLE
Vice Chairman
COMPENSATION
€109K
AGE
61
TENURE
2 yrs

Richard Nilsson

TITLE
Director
COMPENSATION
€93K
AGE
48
TENURE
5 yrs

Hock Goh

TITLE
Independent Director
COMPENSATION
€78K
AGE
63
TENURE
7 yrs

Elisabeth Fleuriot

TITLE
Independent Director
COMPENSATION
€78K
AGE
62
TENURE
6 yrs

Christiane Kuehne

TITLE
Director
COMPENSATION
€87K
AGE
63
TENURE
2 yrs

Göran Sandberg

TITLE
Director
COMPENSATION
€78K
AGE
63
TENURE
2 yrs

Antti Mäkinen

TITLE
Director
COMPENSATION
€87K
AGE
57
TENURE
1.1 yrs

Mikko Helander

TITLE
Director
AGE
58
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Stora Enso Oyj's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Stora Enso Oyj has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

STERV News

Simply Wall St News

Boasting A 13% Return On Equity, Is Stora Enso Oyj (HEL:STERV) A Top Quality Stock?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Stora Enso Oyj has a return on equity of 13% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Should You Know About Stora Enso Oyj's (HEL:STERV) Return On Capital?

Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … Thus, to understand how your money can grow by investing in Stora Enso Oyj, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE) … Stora Enso Oyj's Return On Capital Employed

Simply Wall St -

What is Behind Stora Enso Oyj's (HEL:STERV) Superior ROE?

If STERV borrows debt to invest in its business, its profits will be higher. … But ROE does not capture any debt, so we only see high profits and low equity, which is great on the surface. … Check out our latest analysis for Stora Enso Oyj

Simply Wall St -

Is Stora Enso Oyj's (HEL:STERV) PE Ratio A Signal To Buy For Investors?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Although some investors may jump to the conclusion that this is a great buying opportunity, understanding the assumptions behind the P/E ratio might change your mind. … Check out our latest analysis for Stora Enso Oyj

Simply Wall St -

Has Stora Enso Oyj's (HEL:STERV) Earnings Momentum Changed Recently?

After reading Stora Enso Oyj's (HEL:STERV) latest earnings update (31 March 2018), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … Check out our latest analysis for Stora Enso Oyj? … STERV's trailing twelve-month earnings (from 31 March 2018) of €785.00m has

Simply Wall St -

Are Stora Enso Oyj's (HEL:STERV) Interest Costs Too High?

Stora Enso Oyj (HEL:STERV), a large-cap worth €13.20b, comes to mind for investors seeking a strong and reliable stock investment. … This article will examine Stora Enso Oyj’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … Note that this information is centred entirely on financial health and is a high-level overview, so I encourage you to look further

Simply Wall St -

Is It Time To Buy Stora Enso Oyj (HEL:STERV)?

Today we're going to take a look at the well-established Stora Enso Oyj (HEL:STERV). … With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s examine Stora Enso Oyj’s valuation and outlook in more detail to determine if there’s still a bargain opportunity.

Simply Wall St -

Are Stora Enso Oyj's (HEL:STERV) Interest Costs Too High?

Investors seeking to preserve capital in a volatile environment might consider large-cap stocks such as Stora Enso Oyj (HEL:STERV) a safer option. … This article will examine Stora Enso Oyj’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis

Simply Wall St -

Stora Enso Oyj (HLSE:STERV): The Best Of Both Worlds

Stora Enso Oyj (HLSE:STERV) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … Below, I've touched on some key aspects you should know on a high level

Simply Wall St -

Why Stora Enso Oyj's (HEL:STERV) Investor Composition Impacts Your Returns

Ownership structure of a company has been found to affect share performance over time. … For STERV shareholders, the potential of this type of share price volatility shouldn't be as concerning as hedge fund ownership is is not significant,indicating few chances of such sudden price moves. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: STERV's considerably high level of institutional ownership calls for further analysis into its margin of safety.

Simply Wall St -

STERV Company Info

Description

Stora Enso Oyj provides renewable solutions for the packaging, biomaterials, wooden constructions, and paper industries worldwide. The company operates through five divisions: Consumer Board, Packaging Solutions, Biomaterials, Wood Products, and Paper. The Consumer Board division develops virgin fiber carton board used for packaging for liquid, food, pharmaceutical, and luxury goods. The Packaging Solutions division provides fiber-based board materials and corrugated packaging products and services for various applications. The Biomaterials division offers various pulp grades for paper, board, tissue, textile, and hygiene product producers. The Wood Products division provides wood-based solutions, such as massive wood elements and components, sawn timber goods, and pellets for sustainable heating. The Paper division provides paper products for print and office use, including papers made from recycled and virgin fiber. The company serves packaging manufacturers, brand owners, paper and board producers, publishers, retailers, printing houses, converters, joinery, and construction companies. Stora Enso Oyj is headquartered in Helsinki, Finland.

Details
Name: Stora Enso Oyj
STERV
Exchange: HLSE
Founded:
€9,256,973,448
788,619,987
Website: http://www.storaenso.com
Address: Stora Enso Oyj
Kanavaranta 1,
PO Box 309,
Helsinki,
Uusimaa, 00101,
Finland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HLSE STERV Series R Shares OMX Nordic Exchange Helsinki FI EUR 03. May 1996
OTCPK SEOJ.F Series R Shares Pink Sheets LLC US USD 03. May 1996
DB ENUR Series R Shares Deutsche Boerse AG DE EUR 03. May 1996
LSE 0CXC Series R Shares London Stock Exchange GB EUR 03. May 1996
BATS-CHIXE STERVH Series R Shares BATS 'Chi-X Europe' GB EUR 03. May 1996
OTCPK SEOA.Y SPON ADR REP R Pink Sheets LLC US USD 01. Sep 2000
OM STE R SER'R'NPV (SEK QUOTE) OMX Nordic Exchange Stockholm SE SEK 29. Dec 1998
OM STE A SER'A'NPV (SEK QUOTE) OMX Nordic Exchange Stockholm SE SEK 29. Dec 1998
HLSE STEAV Series A Shares OMX Nordic Exchange Helsinki FI EUR 07. May 1996
LSE 0KCK SER'R'NPV (SEK QUOTE) London Stock Exchange GB SEK 29. Dec 1998
LSE 0M32 SER'A'NPV (SEK QUOTE) London Stock Exchange GB SEK 29. Dec 1998
LSE 0CX9 Series A Shares London Stock Exchange GB EUR 07. May 1996
BATS-CHIXE STEAVH Series A Shares BATS 'Chi-X Europe' GB EUR 07. May 1996
BATS-CHIXE STEAS SER'A'NPV (SEK QUOTE) BATS 'Chi-X Europe' GB SEK 29. Dec 1998
BATS-CHIXE STERS SER'R'NPV (SEK QUOTE) BATS 'Chi-X Europe' GB SEK 29. Dec 1998
Number of employees
Current staff
Staff numbers
26,129
Stora Enso Oyj employees.
Industry
Paper Products
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 20:54
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.