UPM-Kymmene Oyj (XTER:RPL) EV-to-EBITDA: 10.67 (As of Jul. 23, 2026) — 16% Above Median

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.
Reviewed by: Charlie Tian Charlie Tian
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.

XTER:RPL UPM-Kymmene Oyj XTER:RPL
78 GF Score
Price €24.10
GF Value €25.63
Valuation Fairly Valued
! 5 Warning Signs
View Full Analysis

What is UPM-Kymmene Oyj EV-to-EBITDA?

UPM-Kymmene Oyj XTER:RPL +2.68% 78 EV-to-EBITDA is 10.67 as of Jul. 23, 2026, which is 16% above its 10-year median of 9.20. GuruFocus rates XTER:RPL with a GF Score™ of 78/100 and a GF Value™ of €25.63 (Fairly Valued). The stock has 5 warning signs investors should review. Among 217 Forest Products companies, UPM-Kymmene Oyj ranks worse than 60.83% on this metric.

EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, UPM-Kymmene Oyj's enterprise value is €16,044 Mil. UPM-Kymmene Oyj's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 was €1,504 Mil. Therefore, UPM-Kymmene Oyj's EV-to-EBITDA for today is 10.67.

The historical rank and industry rank for UPM-Kymmene Oyj's EV-to-EBITDA or its related term are showing as below:

XTER:RPL' s EV-to-EBITDA Range Over the Past 10 Years
Min: 5.19   Med: 9.2   Max: 18.16
Current: 11.26

During the past 13 years, the highest EV-to-EBITDA of UPM-Kymmene Oyj was 18.16. The lowest was 5.19. And the median was 9.20.

XTER:RPL's EV-to-EBITDA is ranked worse than
60.83% of 217 companies
in the Forest Products industry
Industry Median: 8.77 vs XTER:RPL: 11.26

EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.

As of today (2026-07-23), UPM-Kymmene Oyj's stock price is €24.10. UPM-Kymmene Oyj's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 was €1.190. Therefore, UPM-Kymmene Oyj's PE Ratio (TTM) for today is 20.25.

The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).


UPM-Kymmene Oyj  (XTER:RPL) EV-to-EBITDA Explanation

EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.

UPM-Kymmene Oyj's PE Ratio (TTM) for today is calculated as:

PE Ratio (TTM)=Share Price (Today)/Earnings per Share (Diluted) (TTM)
=24.10/1.190
=20.25

UPM-Kymmene Oyj's share price for today is €24.10.
UPM-Kymmene Oyj's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1.190.

* 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.

Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).

Please read Which price ratio outperforms the enterprise multiple?


UPM-Kymmene Oyj EV-to-EBITDA Related Terms


UPM-Kymmene Oyj EV-to-EBITDA Historical Data

* Premium members only.

The historical data trend for UPM-Kymmene Oyj's EV-to-EBITDA 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 EV-to-EBITDA Chart

UPM-Kymmene Oyj Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EV-to-EBITDA
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.08 8.62 17.50 9.99 11.79

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
EV-to-EBITDA 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 9.98 11.57 11.79 12.27 0.00

XTER:RPL vs SLVM: EV-to-EBITDA Comparison

For the Paper & Paper Products subindustry, UPM-Kymmene Oyj's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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 EV-to-EBITDA vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, UPM-Kymmene Oyj's EV-to-EBITDA distribution charts can be found below:

* The bar in red indicates where UPM-Kymmene Oyj's EV-to-EBITDA falls into.


XTER:RPL
78GF Score
UPM-Kymmene Oyj XTER:RPL
EV-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

UPM-Kymmene Oyj EV-to-EBITDA Calculation

UPM-Kymmene Oyj's EV-to-EBITDA for today is calculated as:

EV-to-EBITDA=Enterprise Value (Today)/EBITDA (TTM)
=16043.510/1504
=10.67

UPM-Kymmene Oyj's current Enterprise Value is €16,044 Mil.
UPM-Kymmene Oyj's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,504 Mil.

* 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.

Frequently Asked Questions Learn more about EV-to-EBITDA →
What does a EV-to-EBITDA of 10.67 mean?
UPM-Kymmene Oyj (XTER:RPL) has a EV-to-EBITDA of 10.67 as of Jul. 23, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on UPM-Kymmene Oyj. This is 16% above median its historical median of 9.20. Over the past decade, UPM-Kymmene Oyj's EV-to-EBITDA has ranged from 5.19 to 18.16. According to the industry distribution chart, UPM-Kymmene Oyj ranks #132 out of 217 companies in the Forest Products industry, placing it in the top 60.8%.
Is UPM-Kymmene Oyj's EV-to-EBITDA too high?
UPM-Kymmene Oyj's current EV-to-EBITDA of 10.67 is 16% above median its 10-year median of 9.20. Over the past 10 years, this metric has ranged from a low of 5.19 to a high of 18.16. The Forest Products industry median EV-to-EBITDA is 8.77. UPM-Kymmene Oyj's value of 10.67 is 21.7% above this industry median. Based on the distribution chart, UPM-Kymmene Oyj ranks #132 out of 217 companies in the Forest Products industry, which is below the industry midpoint. Overall, UPM-Kymmene Oyj has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does UPM-Kymmene Oyj's EV-to-EBITDA compare to SLVM?
According to the Forest Products industry distribution chart, UPM-Kymmene Oyj ranks #132 out of 217 companies for EV-to-EBITDA. This places UPM-Kymmene Oyj in the lower half of its industry. The industry median EV-to-EBITDA is 8.77. UPM-Kymmene Oyj's value of 10.67 is 21.7% above this benchmark. Historically, UPM-Kymmene Oyj's own EV-to-EBITDA has ranged from 5.19 to 18.16 over the past decade. While the company's 10-year median is 9.20 vs. the industry median of 8.77, UPM-Kymmene Oyj 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 EV-to-EBITDA for a Forest Products company?
The median EV-to-EBITDA among Forest Products companies is 8.77, based on 217 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. UPM-Kymmene Oyj's current EV-to-EBITDA of 10.67 is 21.7% 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 EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on UPM-Kymmene Oyj. For the Forest Products industry, the median EV-to-EBITDA is 8.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. UPM-Kymmene Oyj's current EV-to-EBITDA is 10.67, which is 16% above median its own 10-year median of 9.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is UPM-Kymmene Oyj stock overvalued right now?
Based on GuruFocus' analysis, UPM-Kymmene Oyj (XTER:RPL) is currently considered Fairly Valued. The stock's GF Value™ is €25.63, compared to a current price of €24.10 — trading 6% below its estimated fair value. The current EV-to-EBITDA is 10.67, which is 16% above median its 10-year median of 9.20 and 21.7% above the Forest Products industry median of 8.77. UPM-Kymmene Oyj's overall GF Score™ is 78/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For UPM-Kymmene Oyj (XTER:RPL), the current EV-to-EBITDA is 10.67 as of Jul. 23, 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 UPM-Kymmene Oyj (XTER:RPL) Overvalued in 2026?

Based on GuruFocus' analysis, UPM-Kymmene Oyj stock appears to be undervalued. The current stock price of €24.10 is trading 6% below its estimated GF Value™ of €25.63. GuruFocus considers UPM-Kymmene Oyj to be Fairly Valued.

Key valuation signals for XTER:RPL:

  • EV-to-EBITDA: 10.67 (16% above median its 10-year median of 9.20)
  • GF Value™: €25.63 vs. price of €24.10 (6% below fair value)
  • GF Score™: 78/100 with 5 warning signs
  • Industry Position: 21.7% above the Forest Products median (#132 of 217)

No single metric tells the full story. See the XTER:RPL 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.
78GF Score

Get the complete analysis for XTER:RPL

EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€24.10
Price
€25.63
GF Value