Loading…
Finnish maker of process technology, automation and services for the pulp, paper and energy industries.
Finnish maker of process technology, automation and services for the pulp, paper and energy industries.
Large pulp-mill and paper-line orders are lumpy and come from a few big projects, while services and spare parts on its installed machines give steadier income. Automation systems control the same plants. It was formed in 2013 when Metso split its paper and energy businesses out.
Moat: narrow (installed base, process know-how, switching costs). Large installed base of pulp/paper machinery generates recurring services and upgrade revenue.
Headquarters: Espoo, Finland · Founded: 2013 · Employees: 18,487
Size Valmet (VALMT.HE) is a Finland Industrials company (Industrial Machinery) with a market value of $5.97B, the 15th largest of 65 Finland companies the cockpit tracks. Shares closed at €28.88 on 6 Nov 2026.
Performance Over six months the shares gained 29.6%, against -5.3% for the median peer and -2.9% for the Finland market (cap-weighted) — 4th highest of 19 in its peer set.
Growth Revenue grew 2.8% over the last twelve months (peer median +18.2%); the operating margin is 10.1% (peer median 15.1%).
Valuation It trades at 13.8× forward earnings against a peer median of 25.2× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.2 points above its cost of capital (8.3% WACC).
Credit Valmet has 1 bond outstanding ($223M) and trading like BB at a weighted spread of 137 bp.
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €5.40B | €5.20B | €5.36B | €5.53B | €5.07B |
| Revenue growth | — | -3% | -3% | +9% | — |
| Gross profit | €1.36B | €1.31B | €1.35B | €1.29B | €1.09B |
| EBITDA | €757M | €673M | €717M | €704M | €581M |
| Net income | €284M | €280M | €280M | €357M | €338M |
| Free cash flow | €431M | €496M | €471M | €253M | -€44.0M |
| Capital expenditure | €81.0M | €103M | €107M | €125M | €112M |
| Total debt | €1.87B | €1.46B | €1.54B | €1.48B | €808M |
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 |
|---|---|---|---|---|---|---|
| Valmet VALMT.HE | $5.97B | +30% | +3% | 10% | 13.8× | 2.1% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
| Metso METSO.HE | $15.8B | +14% | +8% | 15% | 23.6× | 15.3% |
| Siemens SIE.DE | $225B | -4% | +4% | 13% | 23.4× | 18.3% |
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 | VALMT.HE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.1% | -10.9% | 5th highest of 21 |
| 6-month return | +29.6% | -5.3% | 4th highest of 19 |
| Distance from 52-week high | -4.9% | -27.4% | 2nd highest of 21 |
| Revenue growth (TTM) | +2.8% | +18.2% | 4th lowest of 21 |
| Operating margin | 10.1% | 15.1% | 6th lowest of 21 |
| Forward P/E | 13.8× | 25.2× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 2.1% | 18.0% | least demanding of 18 |
| Growth delivered (Del g) | +6.8% | +12.4% | 6th lowest of 18 |
| Hurdle (Req g minus delivered) | -4.7 pp | +4.9 pp | 5th least demanding of 18 |
| ROIC minus cost of capital | +3.2 pp | +2.7 pp | 11th highest of 21 |
| EV / EBITDA | 8.6× | 12.8× | 3rd cheapest of 14 |
| Net debt / EBITDA | 1.6× | 0.5× | 6th most indebted of 15 |
| Bond spread | 137 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Valmet VALMT.HE | Finland | $5.97B | +30% | +3% | 10% | 13.8× | 2.1% | +6.8% |
| Airtac International 1590.TW | Taiwan | $6.11B | -30% | +23% | 33% | 15.8× | 5.0% | +12.4% |
| Welspun WELCORP.NS | India | $6.13B | +70% | +14% | 12% | 25.5× | 24.9% | +19.0% |
| Shanghai BOCHU Electronic Technology 688188.SS | China | $6.16B | 0% | +20% | 44% | 29.6× | 18.0% | +30.9% |
| Middleby MIDD | United States | $6.17B | +3% | -7% | 17% | 18.5× | 6.9% | +5.0% |
| MISUMI 9962.T | Japan | $6.25B | +3% | +24% | 13% | 17.9× | 9.3% | +7.3% |
| Georg Fischer GF.SW | Switzerland | $5.65B | +32% | -20% | 3% | 19.9× | 29.2% | -1.2% |
| INDO-MIM INDOMIM.NS | India | $6.39B | n/a | +26% | 20% | 60.8× | 30.3% | +15.8% |
| Mycronic MYCR.ST | Sweden | $5.57B | -4% | +17% | 29% | 24.9× | 10.1% | +15.6% |
| Enpro NPO | United States | $5.47B | -16% | +16% | 16% | 23.2× | 26.1% | +1.3% |
| Zhejiang Shuanghuan Driveline 002472.SZ | China | $5.46B | +9% | +15% | 15% | 26.9× | 11.0% | +20.0% |
| KINGSEMI 688037.SS | China | $6.56B | -7% | +41% | -5% | 264.1× | n/a | n/a |
| Rotork ROR.L | United Kingdom | $5.40B | +65% | +2% | 24% | 27.9× | 27.6% | +5.2% |
| LandMark Optoelectronics 3081.TWO | Taiwan | $5.38B | -32% | +105% | 38% | 54.3× | n/a | n/a |
| JBT Marel JBTM | United States | $6.66B | -8% | +20% | 10% | 14.2× | 12.7% | +17.0% |
| Robotechnik Intelligent Technology 3757.HK | Hong Kong | $6.76B | n/a | +217% | 9% | 140.6× | 53.9% | +11.6% |
| Beijing Huafeng Test & Control Technology 688200.SS | China | $6.87B | -4% | +44% | 36% | 50.0× | 47.7% | +27.6% |
| ESAB ESAB | United States | $5.15B | -18% | +11% | 13% | 14.0× | 12.7% | +7.8% |
| Kion KGX.DE | Germany | $5.05B | -25% | +3% | 6% | 10.4× | n/a | n/a |
| Timken TKR | United States | $7.07B | -14% | +6% | 15% | 14.5× | 3.7% | +5.5% |
| Shenzhen Envicool Technology 002837.SZ | China | $7.13B | -49% | +22% | 9% | 53.5× | 56.2% | +29.0% |
Valmet has 1 bond outstanding with $223M face value. Weighted yield 4.33%, a spread of 137 bp over government bonds.