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Arctic PaperCHIX:ARPS 58 Owner Earnings per Share (TTM) is 4.14 as of Mar. 2026, which is 35% below its 10-year median of 6.35. GuruFocus rates CHIX:ARPS with a GF Score™ of 58/100 and a GF Value™ of kr112.82. The stock has 6 warning signs investors should review. Among 107 Forest Products companies, Arctic Paper ranks better than 57.01% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Arctic Paper's Owner Earnings per Share (TTM) ended in Mar. 2026 was kr4.14. It's Price-to-Owner-Earnings ratio for today is 12.68.
The historical rank and industry rank for Arctic Paper's Owner Earnings per Share (TTM) or its related term are showing as below:
CHIX:ARPs'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 1.79 Med: 6.35 Max: 57.32
Current: 12.68
CHIX:ARPs's Price-to-Owner-Earnings is ranked better than 57.01% of 107
companies
in the Forest Products industry
Industry Median: 14.71
vs CHIX:ARPs: 12.68
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Arctic Paper Owner Earnings per Share (TTM) Related Terms
Arctic Paper Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for Arctic Paper's Owner Earnings per Share (TTM) 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.
CHIX:ARPS vs SLVM: Owner Earnings per Share (TTM) Comparison
For the Paper & Paper Products subindustry, Arctic Paper's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings 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.
Arctic Paper Price-to-Owner-Earnings vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Arctic Paper's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Arctic Paper's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
Arctic Paper's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2026 was kr0 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = kr544 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
Arctic Paper's 5-Year Average Maintenance Capital Expenditure = kr544 Mil
5. "Change In Working Capital" is from cashflow statement. Arctic Paper's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2026 was kr400 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* 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.
What does a Owner Earnings per Share (TTM) of 4.14 mean?
Arctic Paper (CHIX:ARPS) has a Owner Earnings per Share (TTM) of 4.14 as of Mar. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Arctic Paper. This is 35% below median its historical median of 6.35. Over the past decade, Arctic Paper's Owner Earnings per Share (TTM) has ranged from 1.79 to 57.32. According to the industry distribution chart, Arctic Paper ranks #46 out of 107 companies in the Forest Products industry, placing it in the top 43%.
Is Arctic Paper's Owner Earnings per Share (TTM) too high?
Arctic Paper's current Owner Earnings per Share (TTM) of 4.14 is 35% below median its 10-year median of 6.35. Over the past 10 years, this metric has ranged from a low of 1.79 to a high of 57.32. The Forest Products industry median Owner Earnings per Share (TTM) is 14.71. Arctic Paper's value of 4.14 is 71.9% below this industry median. Based on the distribution chart, Arctic Paper ranks #46 out of 107 companies in the Forest Products industry, which is above the industry midpoint. Overall, Arctic Paper has a GF Score™ of 58/100, reflecting its overall financial health beyond just this single metric.
How does Arctic Paper's Owner Earnings per Share (TTM) compare to SLVM?
According to the Forest Products industry distribution chart, Arctic Paper ranks #46 out of 107 companies for Owner Earnings per Share (TTM). This puts Arctic Paper in the upper half of its industry. The industry median Owner Earnings per Share (TTM) is 14.71. Arctic Paper's value of 4.14 is 71.9% below this benchmark. Historically, Arctic Paper's own Owner Earnings per Share (TTM) has ranged from 1.79 to 57.32 over the past decade. While the company's 10-year median is 6.35 vs. the industry median of 14.71, Arctic Paper has consistently been below 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 Owner Earnings per Share (TTM) for a Forest Products company?
The median Owner Earnings per Share (TTM) among Forest Products companies is 14.71, based on 107 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Arctic Paper's current Owner Earnings per Share (TTM) of 4.14 is 71.9% below 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 Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Arctic Paper. For the Forest Products industry, the median Owner Earnings per Share (TTM) is 14.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Arctic Paper's current Owner Earnings per Share (TTM) is 4.14, which is 35% below median its own 10-year median of 6.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arctic Paper stock overvalued right now?
Arctic Paper (CHIX:ARPS) has a current Owner Earnings per Share (TTM) of 4.14. The stock's GF Value™ is kr112.82, compared to a current price of kr52.50 — trading 53.5% below its estimated fair value. The current Owner Earnings per Share (TTM) is 4.14, which is 35% below median its 10-year median of 6.35 and 71.9% below the Forest Products industry median of 14.71. Arctic Paper's overall GF Score™ is 58/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Arctic Paper (CHIX:ARPS), the current Owner Earnings per Share (TTM) is 4.14 as of Mar. 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 Arctic Paper (CHIX:ARPS) Overvalued in 2026?
Based on GuruFocus' analysis, Arctic Paper stock appears to be undervalued.
The current stock price of kr52.50 is trading 53.5% below its estimated GF Value™ of kr112.82.
Key valuation signals for CHIX:ARPS:
Owner Earnings per Share (TTM): 4.14 (35% below median its 10-year median of 6.35)
GF Value™: kr112.82 vs. price of kr52.50 (53.5% below fair value)
Industry Position: 71.9% below the Forest Products median (#46 of 107)
No single metric tells the full story. See the CHIX:ARPS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Arctic Paper SA produces a volume of bulky book paper and produces high-quality graphic paper in Europe. The group produces numerous types of uncoated and coated wood-free paper as well as wood-containing uncoated paper for printing houses, paper distributors, book and magazine publishing houses, and the advertising industry. The company's segment includes Paper and Pulp. The firm derives maximum revenue from the Paper segment. The majority of revenue is generated from Uncoated segment. Geographically, the firm derives revenue from Germany, France, the UK, Scandinavia, Western Europe (other countries), Poland, Central and Eastern Europe (other than Poland), and Outside Europe.
58GF Score
Get the complete analysis for CHIX:ARPS
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