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Finnish supplier of equipment and services for mining, aggregates and metals processing.
Finnish supplier of equipment and services for mining, aggregates and metals processing.
Earns from two kinds of sales: equipment sold during mine and quarry build-outs, which comes and goes, and wear parts and repairs for machines already installed, which recur and form about half of sales. The 2020 merger of Metso's minerals unit with Outotec brought in the process equipment.
Moat: narrow (installed base, process know-how, switching costs). Large installed base of mining process equipment drives high-margin recurring parts/services revenue.
Headquarters: Helsinki, Finland · Founded: 1999 · Employees: 17,982
Size Metso (METSO.HE) is a Finland Industrials company (Trucks/Construction/Farm Machinery) with a market value of $15.8B, the 9th largest of 65 Finland companies the cockpit tracks. Shares closed at €16.99 on 6 Nov 2026.
Performance Over six months the shares gained 14.1%, against -11.6% for the median peer and -2.9% for the Finland market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 8.3% over the last twelve months (peer median +9.1%); the operating margin is 15.5% (peer median 13.2%).
Valuation It trades at 23.6× forward earnings against a peer median of 13.2× (5th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +6 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 6.4 points above its cost of capital (10.7% WACC).
Credit Metso has 4 bonds outstanding ($1.19B), rated NR by the agencies and trading like BBB at a weighted spread of 116 bp.
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €5.40B | €5.24B | €5.03B | €5.39B | €4.97B |
| Revenue growth | — | +4% | -7% | +8% | — |
| Gross profit | €1.77B | €1.58B | €1.59B | €1.64B | €1.26B |
| EBITDA | €1.03B | €895M | €961M | €981M | €681M |
| Net income | €482M | €423M | €328M | €543M | €312M |
| Free cash flow | €361M | €628M | €143M | €164M | €34.0M |
| Capital expenditure | €152M | €152M | €189M | €170M | €114M |
| Total debt | €1.62B | €1.59B | €1.61B | €1.53B | €1.29B |
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 |
|---|---|---|---|---|---|---|
| Metso METSO.HE | $15.8B | +14% | +8% | 15% | 23.6× | 15.3% |
| Sandvik SAND.ST | $45.8B | -1% | +14% | 20% | 21.0× | 13.3% |
| FLSmidth & Co. A/S FLS.CO | $4.88B | +22% | -20% | 13% | 13.9× | 2.8% |
| Weir WEIR.L | $8.18B | -3% | +6% | 18% | 18.1× | 19.3% |
| Komatsu 6301.T | $32.2B | -12% | +9% | 13% | 13.1× | 9.5% |
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 | METSO.HE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.4% | -7.1% | 4th highest of 21 |
| 6-month return | +14.1% | -11.6% | highest of 21 |
| Distance from 52-week high | -10.5% | -30.9% | 2nd highest of 21 |
| Revenue growth (TTM) | +8.3% | +9.1% | 9th lowest of 21 |
| Operating margin | 15.5% | 13.2% | 7th highest of 21 |
| Forward P/E | 23.6× | 13.2× | 5th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 15.3% | 5.6% | 4th most demanding of 18 |
| Growth delivered (Del g) | +9.6% | +8.5% | 9th highest of 18 |
| Hurdle (Req g minus delivered) | +5.7 pp | -2.7 pp | 5th most demanding of 18 |
| ROIC minus cost of capital | +6.4 pp | +5.2 pp | 10th highest of 20 |
| EV / EBITDA | 14.8× | 11.4× | 4th most expensive of 13 |
| Net debt / EBITDA | 1.1× | 1.4× | 6th least indebted of 13 |
| Bond spread | 116 bp | 89 bp | widest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Metso METSO.HE | Finland | $15.8B | +14% | +8% | 15% | 23.6× | 15.3% | +9.6% |
| Wartsila Oyj Abp WRT1V.HE | Finland | $17.1B | -25% | -2% | 13% | 23.5× | 7.2% | +8.5% |
| CNH Industrial CNH | United States | $14.3B | +5% | +1% | 13% | 21.1× | 7.4% | -7.0% |
| Kubota 6326.T | Japan | $18.2B | 0% | +13% | 11% | 10.0× | 7.5% | +10.3% |
| Yangzijiang Shipbuilding (Holdings) BS6.SI | Singapore | $13.5B | +11% | +26% | 32% | 8.2× | -10.1% | +11.8% |
| XCMG Construction Machinery 000425.SZ | China | $12.6B | -28% | +8% | 8% | 11.0× | -3.2% | +6.4% |
| Hdksoe 009540.KS | South Korea | $12.5B | -48% | +23% | 23% | 4.4× | n/a | n/a |
| Sinotruk Hong Kong 3808.HK | Hong Kong | $12.3B | -12% | +38% | 7% | 9.4× | -3.2% | +1.5% |
| Hd Hyundai Heavy Industries 329180.KS | South Korea | $20.3B | -62% | +41% | 15% | 9.5× | -7.0% | +16.2% |
| Doosan Enerbility 034020.KS | South Korea | $21.1B | -65% | +9% | 5% | 82.3× | 22.7% | +13.2% |
| Ashok Leyland ASHOKLEY.NS | India | $10.7B | +1% | +16% | 17% | 24.8× | n/a | n/a |
| Hanwha Ocean 042660.KS | South Korea | $10.7B | -64% | +18% | 13% | 8.7× | -12.4% | +13.2% |
| Sany Heavy Industry 6031.HK | Hong Kong | $24.2B | -27% | +25% | 11% | 12.9× | -1.1% | -2.9% |
| SamsungHvyInd 010140.KS | South Korea | $10.2B | -50% | +30% | 27% | 13.3× | -20.3% | +11.4% |
| Toro TTC | United States | $9.92B | +10% | +5% | 11% | 21.2× | 5.6% | +6.0% |
| CRRC 1766.HK | Hong Kong | $26.4B | +4% | +7% | 6% | 9.2× | -2.4% | +3.1% |
| Epiroc EPI-A.ST | Sweden | $28.6B | -10% | +1% | 19% | 29.3× | 16.5% | +11.4% |
| Weir WEIR.L | United Kingdom | $8.18B | -3% | +6% | 18% | 18.1× | 19.3% | +5.5% |
| Mazagon Dock Shipbuilders MAZDOCK.NS | India | $7.87B | -31% | +8% | 15% | 30.5× | n/a | n/a |
| Komatsu 6301.T | Japan | $32.2B | -12% | +9% | 13% | 13.1× | 9.5% | +13.6% |
| AGCO AGCO | United States | $7.61B | -6% | +1% | 6% | 17.1× | 10.5% | +2.0% |
Metso has 4 bonds outstanding with $1.19B face value. The agencies rate it NR; its bonds trade like BBB. Weighted yield 4.12%, a spread of 116 bp over government bonds.