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Swedish forestry group that owns forest land and produces paper, wood products and renewable energy.
Swedish forestry group that owns forest land and produces paper, wood products and renewable energy.
Cuts wood from its own forests to supply its sawmills and paper and board mills, so the owned land secures raw material and carries value in itself. Paper, board and wood products sell at market prices, and hydropower from its own plants adds electricity income. The Lundberg family's investment company is the controlling shareholder.
In one line: A vertically integrated forestry company like a smaller Weyerhaeuser.
Moat: narrow (scale, installed base). Large owned forest-land base provides raw-material security, though paper/timber pricing is commodity-driven.
Headquarters: Stockholm, Sweden · Founded: 1609 · Employees: 3,435
Size Holmen (HOLM-A.ST) is a Sweden Materials company (Pulp & Paper) with a market value of $4.73B, the 48th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 306.00 on 6 Nov 2026.
Performance Over six months the shares fell 0.7%, against -4.0% for the median peer and +8.2% for the Sweden market (cap-weighted) — 8th highest of 16 in its peer set.
Growth Revenue fell 5.2% over the last twelve months (peer median +1.8%); the operating margin is 8.7% (peer median 7.2%).
Valuation It trades at 22.2× forward earnings against a peer median of 16.3× (4th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.6 points below its cost of capital (5.0% WACC).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 21.2B | SEK 22.1B | SEK 22.8B | SEK 22.8B | SEK 24.0B |
| Revenue growth | — | -3% | 0% | -5% | — |
| Gross profit | -SEK 150M | SEK 393M | SEK 318M | -SEK 536M | SEK 845M |
| EBITDA | SEK 3.29B | SEK 2.79B | SEK 2.85B | SEK 1.84B | SEK 3.04B |
| Net income | SEK 2.10B | SEK 2.88B | SEK 2.86B | SEK 3.70B | SEK 5.87B |
| Free cash flow | SEK 2.34B | SEK 1.72B | SEK 1.20B | SEK 4.14B | SEK 4.10B |
| Capital expenditure | SEK 1.34B | SEK 2.14B | SEK 2.12B | SEK 1.71B | SEK 1.39B |
| Total debt | SEK 6.34B | SEK 5.60B | SEK 3.66B | SEK 3.16B | SEK 4.17B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Holmen HOLM-A.ST | $4.73B | -1% | -5% | 9% | 22.2× | 7.7% |
| Weyerhaeuser WY | $15.1B | -10% | -1% | 6% | 86.1× | n/a |
| Stora Enso STEAV.HE | $8.58B | 0% | -1% | -4% | 18.4× | n/a |
| Metsa Board METSA.HE | $1.22B | -17% | -11% | -4% | n/a | 16.7% |
| UPM-Kymmene UPM.HE | $13.3B | -11% | -6% | 8% | 18.2× | 6.1% |
| Billerud BILL.ST | $2.24B | +35% | -9% | -1% | 70.1× | 24.9% |
| Mondi MNDI.L | $4.69B | +5% | +5% | 4% | 36.1× | 15.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HOLM-A.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.2% | +3.5% | 6th lowest of 16 |
| 6-month return | -0.7% | -4.0% | 8th highest of 16 |
| Distance from 52-week high | -18.6% | -19.6% | 8th highest of 16 |
| Revenue growth (TTM) | -5.2% | +1.8% | 5th lowest of 16 |
| Operating margin | 8.7% | 7.2% | 7th highest of 16 |
| Forward P/E | 22.2× | 16.3× | 4th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 7.7% | 6.1% | 5th most demanding of 12 |
| Growth delivered (Del g) | +6.2% | +2.3% | 3rd highest of 12 |
| Hurdle (Req g minus delivered) | +1.5 pp | +3.8 pp | 6th least demanding of 12 |
| ROIC minus cost of capital | -2.6 pp | -2.2 pp | 7th lowest of 16 |
| EV / EBITDA | 16.0× | 10.9× | 3rd most expensive of 11 |
| Net debt / EBITDA | 1.9× | 3.5× | least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Holmen HOLM-A.ST | Sweden | $4.73B | -1% | -5% | 9% | 22.2× | 7.7% | +6.2% |
| Shandong Sunpaper 002078.SZ | China | $6.02B | -4% | +9% | 11% | 10.4× | n/a | n/a |
| Svenska Cellulosa AB SCA SCA-A.ST | Sweden | $8.72B | +21% | -3% | 6% | 33.7× | 30.3% | +2.1% |
| Rengo 3941.T | Japan | $2.29B | +18% | +4% | 4% | 11.0× | n/a | n/a |
| Billerud BILL.ST | Sweden | $2.24B | +35% | -9% | -1% | 70.1× | 24.9% | +11.2% |
| Xianhe 603733.SS | China | $1.94B | -28% | +9% | 10% | 10.9× | n/a | n/a |
| Suzano S.A. Sponsored ADR SUZ | United States | $12.0B | +9% | +1% | 19% | 16.9× | 3.2% | +8.7% |
| Lee & Man Paper Manufacturing 2314.HK | Hong Kong | $1.77B | -4% | +14% | 9% | 5.5× | 1.0% | +0.6% |
| UPM-Kymmene UPM.HE | Finland | $13.3B | -11% | -6% | 8% | 18.2× | 6.1% | +2.3% |
| Avery Dennison AVY | United States | $14.1B | +14% | +7% | 13% | 17.4× | 1.9% | +4.9% |
| Sylvamo SLVM | United States | $1.57B | -4% | -7% | 6% | 9.6× | n/a | n/a |
| Zhongmin Energy 600163.SS | China | $1.49B | -15% | +18% | 49% | 15.5× | -9.8% | +5.0% |
| C&S Paper 002511.SZ | China | $1.44B | -8% | +2% | 7% | 21.7× | -2.1% | +2.3% |
| YFY 1907.TW | Taiwan | $1.40B | +18% | -2% | 0% | 23.1× | 7.1% | +0.1% |
| International Paper IP | United States | $18.3B | +6% | +3% | 3% | 15.8× | 26.4% | +6.1% |
| Metsa Board METSA.HE | Finland | $1.22B | -17% | -11% | -4% | n/a | 16.7% | -1.2% |