Holmen AB (publ)

OM:HOLM B Stock Report

Market Cap: SEK 65.2b

Holmen Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 Fair Value

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

Below Fair Value: HOLM B (SEK411.6) is trading below our estimate of fair value (SEK462.58)

Significantly Below Fair Value: HOLM B is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HOLM B. This is calculated by dividing HOLM B's market cap by their current earnings.
What is HOLM B's PE Ratio?
PE Ratio22.9x
EarningsSEK 2.84b
Market CapSEK 65.21b

Price to Earnings Ratio vs Peers

How does HOLM B's PE Ratio compare to its peers?

The above table shows the PE ratio for HOLM B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.9x
NPAPER Nordic Paper Holding
8x8.7%SEK 3.3b
SCA B Svenska Cellulosa Aktiebolaget
27.1x13.2%SEK 99.3b
SSAB A SSAB
6.5x-0.8%SEK 50.9b
BOL Boliden
10.1x6.3%SEK 87.4b
HOLM B Holmen
22.9x10.0%SEK 65.0b

Price-To-Earnings vs Peers: HOLM B is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the peer average (12.9x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HOLM B 22.9xIndustry Avg. 12.4xNo. of Companies8PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HOLM B is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the European Forestry industry average (12.4x).

Price to Earnings Ratio vs Fair Ratio

What is HOLM B'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.

HOLM B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.9x
Fair PE Ratio17.7x

Price-To-Earnings vs Fair Ratio: HOLM B is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the estimated Fair Price-To-Earnings Ratio (17.6x).

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 HOLM B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 411.60
SEK 441.38
+7.2%
4.8%SEK 476.00SEK 410.00n/a8
Nov ’25SEK 421.00
SEK 437.25
+3.9%
5.0%SEK 476.00SEK 410.00n/a8
Oct ’25SEK 436.60
SEK 435.00
-0.4%
6.1%SEK 476.00SEK 390.00n/a8
Sep ’25SEK 420.20
SEK 433.75
+3.2%
6.2%SEK 476.00SEK 390.00n/a8
Aug ’25SEK 414.00
SEK 428.17
+3.4%
5.1%SEK 460.00SEK 400.00n/a6
Jul ’25SEK 417.20
SEK 430.67
+3.2%
5.2%SEK 455.00SEK 400.00n/a6
Jun ’25SEK 439.40
SEK 434.60
-1.1%
5.4%SEK 455.00SEK 393.00n/a5
May ’25SEK 431.60
SEK 434.60
+0.7%
5.4%SEK 455.00SEK 393.00n/a5
Apr ’25SEK 435.40
SEK 414.60
-4.8%
7.1%SEK 450.00SEK 370.00n/a5
Mar ’25SEK 417.40
SEK 408.25
-2.2%
7.3%SEK 450.00SEK 370.00n/a4
Feb ’25SEK 404.10
SEK 412.50
+2.1%
6.9%SEK 450.00SEK 370.00n/a4
Jan ’25SEK 425.70
SEK 418.75
-1.6%
9.0%SEK 470.00SEK 370.00n/a4
Dec ’24SEK 445.60
SEK 432.75
-2.9%
12.6%SEK 520.00SEK 376.00n/a4
Nov ’24SEK 421.50
SEK 429.00
+1.8%
12.8%SEK 520.00SEK 376.00SEK 421.004
Oct ’24SEK 425.80
SEK 430.00
+1.0%
12.5%SEK 520.00SEK 380.00SEK 436.604
Sep ’24SEK 414.80
SEK 428.00
+3.2%
11.3%SEK 520.00SEK 380.00SEK 420.205
Aug ’24SEK 406.90
SEK 443.60
+9.0%
10.2%SEK 520.00SEK 385.00SEK 414.005
Jul ’24SEK 387.40
SEK 448.00
+15.6%
9.5%SEK 520.00SEK 385.00SEK 417.206
Jun ’24SEK 411.60
SEK 449.67
+9.2%
9.6%SEK 520.00SEK 385.00SEK 439.406
May ’24SEK 387.30
SEK 456.33
+17.8%
7.6%SEK 520.00SEK 420.00SEK 431.606
Apr ’24SEK 399.20
SEK 464.67
+16.4%
8.6%SEK 520.00SEK 420.00SEK 435.406
Mar ’24SEK 424.40
SEK 464.67
+9.5%
8.6%SEK 520.00SEK 420.00SEK 417.406
Feb ’24SEK 442.00
SEK 453.33
+2.6%
11.5%SEK 520.00SEK 380.00SEK 404.106
Jan ’24SEK 413.90
SEK 448.33
+8.3%
11.1%SEK 520.00SEK 380.00SEK 425.706
Dec ’23SEK 430.40
SEK 448.33
+4.2%
11.1%SEK 520.00SEK 380.00SEK 445.606
Nov ’23SEK 404.60
SEK 446.00
+10.2%
12.2%SEK 520.00SEK 380.00SEK 421.505

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

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