UPMKF (UPM-Kymmene Oyj) Cyclically Adjusted PS Ratio: (As of Jul. 23, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

UPMKF UPM-Kymmene Oyj UPMKF
77 GF Score
Price $26.05
GF Value $27.72
Valuation Fairly Valued
! 5 Warning Signs
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What is UPM-Kymmene Oyj Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


UPM-Kymmene Oyj  (OTCPK:UPMKF) 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.


UPM-Kymmene Oyj Cyclically Adjusted PS Ratio Related Terms


UPM-Kymmene Oyj Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for UPM-Kymmene Oyj'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.

UPM-Kymmene Oyj Cyclically Adjusted PS Ratio Chart

UPM-Kymmene Oyj 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 1.69 1.62 1.56 1.22 1.16

UPM-Kymmene Oyj 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 1.07 1.08 1.16 1.24 0.00

UPMKF vs SLVM: Cyclically Adjusted PS Ratio Comparison

For the Paper & Paper Products subindustry, UPM-Kymmene Oyj'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.


UPM-Kymmene Oyj Cyclically Adjusted PS Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, UPM-Kymmene Oyj's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where UPM-Kymmene Oyj's Cyclically Adjusted PS Ratio falls into.


UPMKF
77GF Score
UPM-Kymmene Oyj UPMKF
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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UPM-Kymmene Oyj 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.

UPM-Kymmene Oyj's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, UPM-Kymmene Oyj'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)
=5.145/125.3800*125.3800
=5.145

Current CPI (Jun. 2026) = 125.3800.

UPM-Kymmene Oyj Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 5.144 100.540 6.415
201612 4.896 101.020 6.077
201703 4.977 100.910 6.184
201706 5.189 101.140 6.433
201709 5.570 101.320 6.893
201712 5.705 101.510 7.047
201803 5.808 101.730 7.158
201806 5.671 102.320 6.949
201809 5.798 102.600 7.085
201812 5.826 102.710 7.112
201903 5.706 102.870 6.955
201906 5.519 103.360 6.695
201909 5.148 103.540 6.234
201912 5.098 103.650 6.167
202003 4.738 103.490 5.740
202006 4.386 103.320 5.322
202009 4.479 103.710 5.415
202012 4.991 103.890 6.023
202103 4.987 104.870 5.962
202106 5.386 105.360 6.409
202109 5.566 106.290 6.566
202112 5.663 107.490 6.606
202203 5.177 110.950 5.850
202206 5.078 113.570 5.606
202209 6.349 114.920 6.927
202212 6.418 117.320 6.859
202303 5.595 119.750 5.858
202306 5.196 120.690 5.398
202309 5.171 121.280 5.346
202312 5.175 121.540 5.339
202403 5.381 122.360 5.514
202406 5.139 122.230 5.271
202409 5.246 122.260 5.380
202412 5.168 122.390 5.294
202503 5.374 123.010 5.478
202506 5.120 122.530 5.239
202509 5.115 122.880 5.219
202512 5.134 122.670 5.247
202603 5.492 124.670 5.523
202606 5.145 125.380 5.145

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.

Is UPM-Kymmene Oyj (UPMKF) Overvalued in 2026?

Based on GuruFocus' analysis, UPM-Kymmene Oyj stock appears to be undervalued. The current stock price of $26.05 is trading 6% below its estimated GF Value™ of $27.72. GuruFocus considers UPM-Kymmene Oyj to be Fairly Valued.

Key valuation signals for UPMKF:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: $27.72 vs. price of $26.05 (6% below fair value)
  • GF Score™: 77/100 with 5 warning signs

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


UPM-Kymmene Oyj Business Description

Address Alvar Aallon katu 1, P.O. Box 380, Helsinki, FIN, FI-00100
UPM-Kymmene Oyj is a Finnish paper and biomaterials company. The company produces products related to the forestry industry, including paper, pulp, and plywood. UPM is also the majority electricity generator in Finland and is one of the globalised producers of self-adhesive labeling materials. It delivers responsible solutions and innovation for a future beyond fossils across six business areas: UPM Fibres, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers, and UPM Plywood. Geographically, the company has operational footprints in Sweden, Finland, the Netherlands, and other regions.
77GF Score

Get the complete analysis for UPMKF

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

$26.05
Price
$27.72
GF Value