Billerud AB (publ)

BATS-CHIXE:BILLS Stock Report

Market Cap: SEK 16.0b

Billerud Valuation

Is BILLS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of BILLS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: BILLS (SEK60.75) is trading below our estimate of future cash flow value (SEK201.23)

Significantly Below Future Cash Flow Value: BILLS is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BILLS?

Key metric: As BILLS is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BILLS. This is calculated by dividing BILLS's market cap by their current revenue.
What is BILLS's PS Ratio?
PS Ratio0.4x
SalesSEK 39.31b
Market CapSEK 16.00b

Price to Sales Ratio vs Peers

How does BILLS's PS Ratio compare to its peers?

The above table shows the PS ratio for BILLS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.2x
RBN Robinson
0.4x8.88%UK£21.8m
RHIM RHI Magnesita
0.5x2.52%UK£1.4b
BREE Breedon Group
0.6x3.68%UK£1.1b
ATYM Atalaya Mining Copper
3.1x12.35%UK£1.3b
BILLS Billerud
0.4x1.80%SEK 16.0b

Price-To-Sales vs Peers: BILLS is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (1.2x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does BILLS's PS Ratio compare vs other companies in the European Packaging Industry?

0 CompaniesPrice / SalesEstimated GrowthMarket Cap
No. of Companies5PS00.40.81.21.62+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BILLS is good value based on its Price-To-Sales Ratio (0.4x) compared to the European Packaging industry average (0.6x).

Price to Sales Ratio vs Fair Ratio

What is BILLS's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BILLS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate BILLS's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BILLS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
SEK 78.83
0%
10.60%SEK 92.00SEK 70.00n/a6
Jun ’27SEK 65.55
SEK 79.17
+20.77%
10.30%SEK 92.00SEK 70.00n/a6
May ’27SEK 63.25
SEK 80.83
+27.80%
8.73%SEK 92.00SEK 70.00n/a6
Apr ’27SEK 73.15
SEK 93.17
+27.36%
7.42%SEK 101.00SEK 80.00n/a6
Mar ’27SEK 81.65
SEK 94.80
+16.11%
9.79%SEK 107.00SEK 80.00n/a5
Feb ’27SEK 71.95
SEK 103.60
+43.99%
5.68%SEK 110.00SEK 96.00n/a5
Jan ’27n/a
SEK 105.20
0%
9.38%SEK 119.00SEK 92.00n/a5
Dec ’26n/a
SEK 105.20
0%
9.38%SEK 119.00SEK 92.00n/a5
Nov ’26SEK 89.65
SEK 102.80
+14.67%
13.19%SEK 119.00SEK 80.00n/a5
Oct ’26n/a
SEK 103.00
0%
12.55%SEK 119.00SEK 84.00n/a5
Sep ’26n/a
SEK 103.00
0%
12.55%SEK 119.00SEK 84.00n/a5
Aug ’26n/a
SEK 103.00
0%
12.55%SEK 119.00SEK 84.00n/a5
Jul ’26SEK 96.95
SEK 124.00
+27.90%
6.03%SEK 130.00SEK 110.00n/a6
Jun ’26n/a
SEK 125.67
0%
7.54%SEK 140.00SEK 110.00SEK 65.556
May ’26SEK 101.10
SEK 125.17
+23.80%
7.53%SEK 140.00SEK 110.00SEK 63.256
Apr ’26n/a
SEK 132.67
0%
11.11%SEK 152.00SEK 113.00SEK 73.156
Mar ’26n/a
SEK 131.50
0%
11.66%SEK 152.00SEK 113.00SEK 81.656
Feb ’26n/a
SEK 127.00
0%
11.54%SEK 152.00SEK 108.00SEK 71.956
Jan ’26n/a
SEK 126.67
0%
12.24%SEK 152.00SEK 104.00n/a6
Dec ’25SEK 99.20
SEK 126.33
+27.35%
11.85%SEK 150.00SEK 104.00n/a6
Nov ’25SEK 97.90
SEK 127.17
+29.89%
11.81%SEK 150.00SEK 104.00SEK 89.656
Oct ’25SEK 116.20
SEK 129.00
+11.02%
10.00%SEK 150.00SEK 112.00n/a6
Sep ’25n/a
SEK 122.86
0%
13.73%SEK 145.00SEK 91.00n/a7
Aug ’25n/a
SEK 118.57
0%
15.41%SEK 145.00SEK 91.00n/a7
Jul ’25SEK 100.75
SEK 116.33
+15.47%
14.66%SEK 140.00SEK 91.00SEK 96.956
SEK 74.42
Fair Value
18.4% undervalued intrinsic discount
6
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/06 03:07
End of Day Share Price 2026/06/18 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Billerud AB (publ) is covered by 12 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Patrick LangstromABG Sundal Collier Sponsored
Justin JordanBNP Paribas