Billerud AB (publ)

OM:BILL Stock Report

Market Cap: SEK 23.8b

Billerud Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair 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 BILL 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 Fair Value: BILL (SEK95.7) is trading below our estimate of fair value (SEK133.47)

Significantly Below Fair Value: BILL is trading below fair value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BILL. This is calculated by dividing BILL's market cap by their current earnings.
What is BILL's PE Ratio?
PE Ratio19.6x
EarningsSEK 1.21b
Market CapSEK 23.80b

Price to Earnings Ratio vs Peers

How does BILL's PE Ratio compare to its peers?

The above table shows the PE ratio for BILL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.3x
ALLEI Alleima
21.7x24.62%SEK 21.2b
HPOL B HEXPOL
15.1x8.46%SEK 29.5b
GRNG Gränges
17.1x20.18%SEK 16.2b
HOLM B Holmen
19.3x-1.45%SEK 54.9b
BILL Billerud
19.6x28.68%SEK 23.8b

Price-To-Earnings vs Peers: BILL is expensive based on its Price-To-Earnings Ratio (19.6x) compared to the peer average (18.3x).

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 BILL's PE Ratio compare vs other companies in the European Packaging Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
BILL 19.6xIndustry Avg. 15.6xNo. of Companies4PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BILL is expensive based on its Price-To-Earnings Ratio (19.6x) compared to the Global Packaging industry average (15.6x).

Price to Earnings Ratio vs Fair Ratio

What is BILL'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.

BILL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.6x
Fair PE Ratio21.8x

Price-To-Earnings vs Fair Ratio: BILL is good value based on its Price-To-Earnings Ratio (19.6x) compared to the estimated Fair Price-To-Earnings Ratio (21.8x).

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 BILL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 95.70
SEK 105.40
+10.14%
9.63%SEK 120.00SEK 92.00n/a5
Jan ’27SEK 93.90
SEK 105.20
+12.03%
9.38%SEK 119.00SEK 92.00n/a5
Dec ’26SEK 93.20
SEK 105.20
+12.88%
9.38%SEK 119.00SEK 92.00n/a5
Nov ’26SEK 87.95
SEK 102.80
+16.88%
13.19%SEK 119.00SEK 80.00n/a5
Oct ’26SEK 85.00
SEK 103.00
+21.18%
12.55%SEK 119.00SEK 84.00n/a5
Sep ’26SEK 89.30
SEK 103.00
+15.34%
12.55%SEK 119.00SEK 84.00n/a5
Aug ’26SEK 82.75
SEK 103.00
+24.47%
12.55%SEK 119.00SEK 84.00n/a5
Jul ’26SEK 97.10
SEK 124.00
+27.70%
6.03%SEK 130.00SEK 110.00n/a6
Jun ’26SEK 104.40
SEK 125.67
+20.37%
7.54%SEK 140.00SEK 110.00n/a6
May ’26SEK 101.80
SEK 125.17
+22.95%
7.53%SEK 140.00SEK 110.00n/a6
Apr ’26SEK 107.00
SEK 132.67
+23.99%
11.11%SEK 152.00SEK 113.00n/a6
Mar ’26SEK 119.60
SEK 131.50
+9.95%
11.66%SEK 152.00SEK 113.00n/a6
Feb ’26SEK 114.00
SEK 127.00
+11.40%
11.54%SEK 152.00SEK 108.00n/a6
Jan ’26SEK 101.40
SEK 126.67
+24.92%
12.24%SEK 152.00SEK 104.00SEK 93.906
Dec ’25SEK 95.60
SEK 126.33
+32.15%
11.85%SEK 150.00SEK 104.00SEK 93.206
Nov ’25SEK 94.25
SEK 127.17
+34.92%
11.81%SEK 150.00SEK 104.00SEK 87.956
Oct ’25SEK 114.10
SEK 129.00
+13.06%
10.00%SEK 150.00SEK 112.00SEK 85.006
Sep ’25SEK 107.90
SEK 122.86
+13.86%
13.73%SEK 145.00SEK 91.00SEK 89.307
Aug ’25SEK 106.60
SEK 118.57
+11.23%
15.41%SEK 145.00SEK 91.00SEK 82.757
Jul ’25SEK 98.45
SEK 116.33
+18.16%
14.66%SEK 140.00SEK 91.00SEK 97.106
Jun ’25SEK 105.10
SEK 111.83
+6.41%
18.14%SEK 140.00SEK 87.00SEK 104.406
May ’25SEK 92.35
SEK 104.33
+12.98%
13.95%SEK 130.00SEK 87.00SEK 101.806
Apr ’25SEK 96.02
SEK 103.17
+7.44%
12.93%SEK 126.00SEK 88.00SEK 107.006
Mar ’25SEK 90.76
SEK 102.00
+12.38%
14.50%SEK 126.00SEK 83.00SEK 119.607
Feb ’25SEK 91.84
SEK 102.71
+11.84%
14.36%SEK 126.00SEK 83.00SEK 114.007
Jan ’25SEK 102.40
SEK 103.57
+1.14%
13.86%SEK 126.00SEK 84.00SEK 101.407
SEK 105.4
Fair Value
9.2% undervalued intrinsic discount
5
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 Analysis2026/01/14 10:14
End of Day Share Price 2026/01/14 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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 13 analysts. 6 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