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Sweden's largest private forest owner, producing pulp, paper, wood products and renewable energy from its forests.
Sweden's largest private forest owner, producing pulp, paper, wood products and renewable energy from its forests.
Most profit arises from its forests, where it grows wood and supplies its own sawmills and pulp mills or sells to others, and forest land value is a separate asset. Its hygiene business was split off as Essity in 2017. Industrivarden, a Swedish investment company, is the largest shareholder by votes.
In one line: A Swedish Weyerhaeuser.
Moat: narrow (scale, installed base). Owns Europe's largest private forest holding, a scarce, hard-to-replicate natural resource asset.
Headquarters: Sundsvall, Sweden · Founded: 1929 · Employees: 3,380
Size Svenska Cellulosa AB SCA (SCA-A.ST) is a Sweden Materials company (Pulp & Paper) with a market value of $8.72B, the 33rd largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 122.00 on 6 Nov 2026.
Performance Over six months the shares gained 20.8%, against +7.5% for the median peer and +8.2% for the Sweden market (cap-weighted) — 2nd highest of 9 in its peer set.
Growth Revenue fell 3.1% over the last twelve months (peer median +1.9%); the operating margin is 5.5% (peer median 8.5%).
Valuation It trades at 33.7× forward earnings against a peer median of 17.1× (2nd most expensive of 9).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +28 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 4.5 points below its cost of capital (5.3% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 20.0B | SEK 20.4B | SEK 20.2B | SEK 18.1B | SEK 20.8B |
| Revenue growth | — | +1% | +12% | -13% | — |
| Gross profit | SEK 3.08B | SEK 1.83B | SEK 1.55B | SEK 680M | SEK 7.03B |
| EBITDA | SEK 3.38B | SEK 4.46B | SEK 4.16B | SEK 3.41B | SEK 7.29B |
| Net income | SEK 2.16B | SEK 3.21B | SEK 3.64B | SEK 3.67B | SEK 6.75B |
| Free cash flow | SEK 1.05B | SEK 1.37B | SEK 1.31B | SEK 759M | SEK 364M |
| Capital expenditure | SEK 2.00B | SEK 2.81B | SEK 2.17B | SEK 3.13B | SEK 5.96B |
| Total debt | SEK 15.4B | SEK 14.6B | SEK 14.5B | SEK 13.3B | SEK 12.5B |
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 |
|---|---|---|---|---|---|---|
| Svenska Cellulosa AB SCA SCA-A.ST | $8.72B | +21% | -3% | 6% | 33.7× | 30.3% |
| Weyerhaeuser WY | $15.1B | -10% | -1% | 6% | 86.1× | n/a |
| Stora Enso STEAV.HE | $8.58B | 0% | -1% | -4% | 18.4× | n/a |
| UPM-Kymmene UPM.HE | $13.3B | -11% | -6% | 8% | 18.2× | 6.1% |
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 | SCA-A.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.8% | +5.9% | 5th highest of 9 |
| 6-month return | +20.8% | +7.5% | 2nd highest of 9 |
| Distance from 52-week high | -4.8% | -17.4% | highest of 9 |
| Revenue growth (TTM) | -3.1% | +1.9% | 4th lowest of 9 |
| Operating margin | 5.5% | 8.5% | 4th lowest of 9 |
| Forward P/E | 33.7× | 17.1× | 2nd most expensive of 9 |
| Growth the price implies (Req g, 7 yrs) | 30.3% | 6.9% | most demanding of 7 |
| Growth delivered (Del g) | +2.1% | +6.2% | lowest of 7 |
| Hurdle (Req g minus delivered) | +28.2 pp | +2.6 pp | most demanding of 7 |
| ROIC minus cost of capital | -4.5 pp | -2.1 pp | 3rd lowest of 9 |
| EV / EBITDA | 29.8× | 10.7× | most expensive of 8 |
| Net debt / EBITDA | 4.5× | 2.4× | most indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Svenska Cellulosa AB SCA SCA-A.ST | Sweden | $8.72B | +21% | -3% | 6% | 33.7× | 30.3% | +2.1% |
| Suzano S.A. Sponsored ADR SUZ | United States | $12.0B | +9% | +1% | 19% | 16.9× | 3.2% | +8.7% |
| Shandong Sunpaper 002078.SZ | China | $6.02B | -4% | +9% | 11% | 10.4× | n/a | n/a |
| 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% |
| Holmen HOLM-A.ST | Sweden | $4.73B | -1% | -5% | 9% | 22.2× | 7.7% | +6.2% |
| International Paper IP | United States | $18.3B | +6% | +3% | 3% | 15.8× | 26.4% | +6.1% |
| 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% |