Holmen AB (STU:HL9D) Cyclically Adjusted PS Ratio: 2.30 (As of Aug. 27, 2026) — 25% Below Median

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STU:HL9D Holmen AB STU:HL9D
61 GF Score
Price €28.20
GF Value €34.64
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Holmen AB Cyclically Adjusted PS Ratio?

Holmen AB STU:HL9D -2.08% 61 Cyclically Adjusted PS Ratio is 2.30 as of Aug. 27, 2026, which is 25% below its 10-year median of 3.08. GuruFocus rates STU:HL9D with a GF Score™ of 61/100 and a GF Value™ of €34.64 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 251 Forest Products companies, Holmen AB ranks worse than 89.64% on this metric.

As of today (2026-08-27), Holmen AB's current share price is €28.20. Holmen AB's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was €12.27. Holmen AB's Cyclically Adjusted PS Ratio for today is 2.30.

The historical rank and industry rank for Holmen AB's Cyclically Adjusted PS Ratio or its related term are showing as below:

STU:HL9D' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 1.67   Med: 3.08   Max: 5.23
Current: 2.33

During the past years, Holmen AB's highest Cyclically Adjusted PS Ratio was 5.23. The lowest was 1.67. And the median was 3.08.

STU:HL9D's Cyclically Adjusted PS Ratio is ranked worse than
89.64% of 251 companies
in the Forest Products industry
Industry Median: 0.48 vs STU:HL9D: 2.33

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Holmen AB's adjusted revenue per share data for the three months ended in Jun. 2026 was €3.324. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is €12.27 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Holmen AB  (STU:HL9D) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Holmen AB Cyclically Adjusted PS Ratio Related Terms


Holmen AB Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Holmen AB's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Holmen AB Cyclically Adjusted PS Ratio Chart

Holmen AB Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.12 3.42 3.23 2.98 2.57

Holmen AB Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.66 2.63 2.57 2.47 2.17

STU:HL9D vs SLVM: Cyclically Adjusted PS Ratio Comparison

For the Paper & Paper Products subindustry, Holmen AB's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Holmen AB Cyclically Adjusted PS Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, Holmen AB's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Holmen AB's Cyclically Adjusted PS Ratio falls into.


STU:HL9D
61GF Score
Holmen AB STU:HL9D
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Holmen AB Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Holmen AB's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=28.20/12.27
=2.30

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Holmen AB's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Holmen AB's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=3.324/134.6100*134.6100
=3.324

Current CPI (Jun. 2026) = 134.6100.

Holmen AB Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 2.367 101.138 3.150
201612 2.408 102.022 3.177
201703 2.591 102.022 3.419
201706 2.591 102.752 3.394
201709 2.448 103.279 3.191
201712 2.301 103.793 2.984
201803 2.387 103.962 3.091
201806 2.401 104.875 3.082
201809 2.172 105.679 2.767
201812 2.262 105.912 2.875
201903 2.420 105.886 3.076
201906 2.456 106.742 3.097
201909 2.369 107.214 2.974
201912 2.508 107.766 3.133
202003 2.527 106.563 3.192
202006 2.235 107.498 2.799
202009 2.213 107.635 2.768
202012 2.545 108.296 3.163
202103 2.877 108.360 3.574
202106 3.123 108.928 3.859
202109 2.954 110.338 3.604
202112 2.862 112.486 3.425
202203 3.386 114.825 3.969
202206 3.580 118.384 4.071
202209 3.288 122.296 3.619
202212 3.484 126.365 3.711
202303 3.440 127.042 3.645
202306 3.048 129.407 3.171
202309 2.856 130.224 2.952
202312 3.051 131.912 3.113
202403 3.193 132.205 3.251
202406 3.298 132.716 3.345
202409 3.101 132.304 3.155
202412 3.006 132.987 3.043
202503 3.480 132.825 3.527
202506 3.194 133.699 3.216
202509 3.129 133.480 3.155
202512 3.115 133.390 3.143
202603 3.289 133.560 3.315
202606 3.324 134.610 3.324

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 2.30 mean?
Holmen AB (STU:HL9D) has a Cyclically Adjusted PS Ratio of 2.30 as of Aug. 27, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Holmen AB and its competitors. This is 25% below median its historical median of 3.08. Over the past decade, Holmen AB's Cyclically Adjusted PS Ratio has ranged from 1.67 to 5.23. According to the industry distribution chart, Holmen AB ranks #225 out of 251 companies in the Forest Products industry, placing it in the top 89.6%.
Is Holmen AB's Cyclically Adjusted PS Ratio too high?
Holmen AB's current Cyclically Adjusted PS Ratio of 2.30 is 25% below median its 10-year median of 3.08. Over the past 10 years, this metric has ranged from a low of 1.67 to a high of 5.23. The Forest Products industry median Cyclically Adjusted PS Ratio is 0.48. Holmen AB's value of 2.30 is 379.2% above this industry median. Based on the distribution chart, Holmen AB ranks #225 out of 251 companies in the Forest Products industry, which is in the bottom quartile relative to peers. Overall, Holmen AB has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Holmen AB's Cyclically Adjusted PS Ratio compare to SLVM?
According to the Forest Products industry distribution chart, Holmen AB ranks #225 out of 251 companies for Cyclically Adjusted PS Ratio. This places Holmen AB in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 0.48. Holmen AB's value of 2.30 is 379.2% above this benchmark. Historically, Holmen AB's own Cyclically Adjusted PS Ratio has ranged from 1.67 to 5.23 over the past decade. While the company's 10-year median is 3.08 vs. the industry median of 0.48, Holmen AB has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Forest Products company?
The median Cyclically Adjusted PS Ratio among Forest Products companies is 0.48, based on 251 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Holmen AB's current Cyclically Adjusted PS Ratio of 2.30 is 379.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Holmen AB and its competitors. For the Forest Products industry, the median Cyclically Adjusted PS Ratio is 0.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Holmen AB's current Cyclically Adjusted PS Ratio is 2.30, which is 25% below median its own 10-year median of 3.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Holmen AB stock overvalued right now?
Based on GuruFocus' analysis, Holmen AB (STU:HL9D) is currently considered Modestly Undervalued. The stock's GF Value™ is €34.64, compared to a current price of €28.20 — trading 18.6% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 2.30, which is 25% below median its 10-year median of 3.08 and 379.2% above the Forest Products industry median of 0.48. Holmen AB's overall GF Score™ is 61/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Holmen AB (STU:HL9D), the current Cyclically Adjusted PS Ratio is 2.30 as of Aug. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Holmen AB (STU:HL9D) Overvalued in 2026?

Based on GuruFocus' analysis, Holmen AB stock appears to be undervalued. The current stock price of €28.20 is trading 18.6% below its estimated GF Value™ of €34.64. GuruFocus considers Holmen AB to be Modestly Undervalued.

Key valuation signals for STU:HL9D:

  • Cyclically Adjusted PS Ratio: 2.30 (25% below median its 10-year median of 3.08)
  • GF Value™: €34.64 vs. price of €28.20 (18.6% below fair value)
  • GF Score™: 61/100 with 4 warning signs
  • Industry Position: 379.2% above the Forest Products median (#225 of 251)

No single metric tells the full story. See the STU:HL9D stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Holmen AB Business Description

Address Strandvagen 1, P.O. Box 5407, Stockholm, SWE, SE-114 84
Holmen AB produces and sells timber, wood products, a variety of paper products, and electricity generated through renewable energy sources. The company organizes itself into four segments based on product type: Forest, Board and Paper, Wood Products, and Renewable Energy. The company's product portfolio includes logs, biofuel, paperboard for consumer packaging, paper for books, construction timber, and renewable energy from hydro and wind power. The company's customer segment is composed of printing firms, sawmills, pulp mills, paper mills, the construction industry, and the packaging industry, among others. The vast majority of revenue comes from the company's Board and Paper segment.
61GF Score

Get the complete analysis for STU:HL9D

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€28.20
Price
€34.64
GF Value