Holmen AB (publ)

LSE:0XS9 Stock Report

Market Cap: SEK 46.4b

Holmen Valuation

Is 0XS9 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of 0XS9 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: 0XS9 (SEK306.7) is trading above our estimate of future cash flow value (SEK242.45)

Significantly Below Future Cash Flow Value: 0XS9 is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0XS9?

Key metric: As 0XS9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0XS9. This is calculated by dividing 0XS9's market cap by their current earnings.
What is 0XS9's PE Ratio?
PE Ratio17x
EarningsSEK 2.75b
Market CapSEK 46.35b

Price to Earnings Ratio vs Peers

How does 0XS9's PE Ratio compare to its peers?

The above table shows the PE ratio for 0XS9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average34x
MNDI Mondi
21.9x26.53%UK£3.1b
CRDA Croda International
71.7x24.92%UK£4.3b
HILS Hill & Smith
26.5x10.10%UK£2.2b
HOC Hochschild Mining
15.7x27.11%UK£2.7b
0XS9 Holmen
17x-0.92%SEK 46.4b

Price-To-Earnings vs Peers: 0XS9 is good value based on its Price-To-Earnings Ratio (17x) compared to the peer average (34x).

Historical Price to Earnings Ratio

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

Fetching historical data

Price to Earnings Ratio vs Industry

How does 0XS9's PE Ratio compare vs other companies in the European Forestry Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0XS9 17.0xIndustry Avg. 21.7xNo. of Companies4PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0XS9 is good value based on its Price-To-Earnings Ratio (17x) compared to the European Forestry industry average (21.7x).

Price to Earnings Ratio vs Fair Ratio

What is 0XS9's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0XS9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17x
Fair PE Ratio13.8x

Price-To-Earnings vs Fair Ratio: 0XS9 is expensive based on its Price-To-Earnings Ratio (17x) compared to the estimated Fair Price-To-Earnings Ratio (13.8x).

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 0XS9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 306.70
SEK 345.56
+12.67%
11.32%SEK 420.00SEK 286.00n/a9
Jun ’27SEK 312.80
SEK 347.78
+11.18%
11.26%SEK 420.00SEK 286.00n/a9
May ’27SEK 315.60
SEK 349.63
+10.78%
11.17%SEK 420.00SEK 286.00n/a8
Apr ’27SEK 337.10
SEK 362.00
+7.39%
11.93%SEK 440.00SEK 306.00n/a8
Mar ’27SEK 357.17
SEK 354.56
-0.73%
13.04%SEK 440.00SEK 290.00n/a9
Feb ’27SEK 333.80
SEK 358.33
+7.35%
13.81%SEK 450.00SEK 290.00n/a9
Jan ’27SEK 354.00
SEK 364.11
+2.86%
13.16%SEK 450.00SEK 300.00n/a9
Dec ’26SEK 345.40
SEK 366.44
+6.09%
12.51%SEK 450.00SEK 300.00n/a9
Nov ’26SEK 358.30
SEK 369.33
+3.08%
11.74%SEK 450.00SEK 300.00n/a9
Oct ’26SEK 360.29
SEK 387.78
+7.63%
13.12%SEK 476.00SEK 305.00n/a9
Sep ’26SEK 368.50
SEK 398.75
+8.21%
10.87%SEK 476.00SEK 345.00n/a8
Aug ’26SEK 363.48
SEK 413.44
+13.75%
9.30%SEK 476.00SEK 360.00n/a9
Jul ’26SEK 373.98
SEK 414.89
+10.94%
9.13%SEK 476.00SEK 360.00n/a9
Jun ’26SEK 397.60
SEK 414.89
+4.35%
9.13%SEK 476.00SEK 360.00SEK 312.809
May ’26SEK 378.20
SEK 411.56
+8.82%
8.91%SEK 476.00SEK 350.00SEK 315.609
Apr ’26SEK 392.80
SEK 431.00
+9.73%
5.89%SEK 476.00SEK 389.00SEK 337.109
Mar ’26SEK 422.40
SEK 431.56
+2.17%
5.84%SEK 476.00SEK 389.00SEK 357.179
Feb ’26SEK 420.40
SEK 430.11
+2.31%
6.44%SEK 476.00SEK 389.00SEK 333.809
Jan ’26SEK 406.20
SEK 435.67
+7.25%
5.91%SEK 476.00SEK 390.00SEK 354.009
Dec ’25SEK 410.80
SEK 435.67
+6.05%
5.91%SEK 476.00SEK 390.00SEK 345.409
Nov ’25SEK 423.80
SEK 437.25
+3.17%
4.97%SEK 476.00SEK 410.00SEK 358.308
Oct ’25SEK 438.40
SEK 435.00
-0.78%
6.09%SEK 476.00SEK 390.00SEK 360.298
Sep ’25SEK 420.46
SEK 433.75
+3.16%
6.16%SEK 476.00SEK 390.00SEK 368.508
Aug ’25SEK 414.00
SEK 428.17
+3.42%
5.12%SEK 460.00SEK 400.00SEK 363.486
Jul ’25SEK 417.20
SEK 430.67
+3.23%
5.21%SEK 455.00SEK 400.00SEK 373.986
Jun ’25SEK 439.40
SEK 434.60
-1.09%
5.36%SEK 455.00SEK 393.00SEK 397.605
SEK 341.66
Fair Value
10.2% undervalued intrinsic discount
9
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/24 21:16
End of Day Share Price 2026/06/24 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

Holmen AB (publ) is covered by 18 analysts. 8 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
Pallav MittalBarclays
Ross GilardiBofA Global Research