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UPM-Kymmene OyjSTU:RPL -0.34%77 ROC (Joel Greenblatt) % is 12.03% as of Mar. 2026, which is 42% below its 10-year median of 20.84. GuruFocus rates STU:RPL with a GF Score™ of 77/100 and a GF Value™ of €26.01 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 286 Forest Products companies, UPM-Kymmene Oyj ranks better than 73.43% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. UPM-Kymmene Oyj's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 12.03%.
The historical rank and industry rank for UPM-Kymmene Oyj's ROC (Joel Greenblatt) % or its related term are showing as below:
STU:RPL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.88 Med: 20.84 Max: 33.57
Current: 9.83
During the past 13 years, UPM-Kymmene Oyj's highest ROC (Joel Greenblatt) % was 33.57%. The lowest was 5.88%. And the median was 20.84%.
STU:RPL's ROC (Joel Greenblatt) % is ranked better than 73.43% of 286
companies
in the Forest Products industry
Industry Median: 4.785
vs STU:RPL: 9.83
UPM-Kymmene Oyj's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -19.20% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
UPM-Kymmene Oyj ROC (Joel Greenblatt) % Related Terms
UPM-Kymmene Oyj ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for UPM-Kymmene Oyj's ROC (Joel Greenblatt) % 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.
STU:RPL vs SLVM: ROC (Joel Greenblatt) % Comparison
For the Paper & Paper Products subindustry, UPM-Kymmene Oyj's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, UPM-Kymmene Oyj's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where UPM-Kymmene Oyj's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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 ROC (Joel Greenblatt) % of 12.03% mean?
UPM-Kymmene Oyj (STU:RPL) has a ROC (Joel Greenblatt) % of 12.03% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on UPM-Kymmene Oyj and its competitors. This is 42% below median its historical median of 20.84. Over the past decade, UPM-Kymmene Oyj's ROC (Joel Greenblatt) % has ranged from 5.88 to 33.57. According to the industry distribution chart, UPM-Kymmene Oyj ranks #76 out of 286 companies in the Forest Products industry, placing it in the top 26.6%.
Is UPM-Kymmene Oyj's ROC (Joel Greenblatt) % too high?
UPM-Kymmene Oyj's current ROC (Joel Greenblatt) % of 12.03% is 42% below median its 10-year median of 20.84. Over the past 10 years, this metric has ranged from a low of 5.88 to a high of 33.57. The Forest Products industry median ROC (Joel Greenblatt) % is 4.79. UPM-Kymmene Oyj's value of 12.03% is 151.4% above this industry median. Based on the distribution chart, UPM-Kymmene Oyj ranks #76 out of 286 companies in the Forest Products industry, which is above the industry midpoint. Overall, UPM-Kymmene Oyj has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does UPM-Kymmene Oyj's ROC (Joel Greenblatt) % compare to SLVM?
According to the Forest Products industry distribution chart, UPM-Kymmene Oyj ranks #76 out of 286 companies for ROC (Joel Greenblatt) %. This puts UPM-Kymmene Oyj in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 4.79. UPM-Kymmene Oyj's value of 12.03% is 151.4% above this benchmark. Historically, UPM-Kymmene Oyj's own ROC (Joel Greenblatt) % has ranged from 5.88 to 33.57 over the past decade. While the company's 10-year median is 20.84 vs. the industry median of 4.79, 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 ROC (Joel Greenblatt) % for a Forest Products company?
The median ROC (Joel Greenblatt) % among Forest Products companies is 4.79, based on 286 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. UPM-Kymmene Oyj's current ROC (Joel Greenblatt) % of 12.03% is 151.4% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on UPM-Kymmene Oyj and its competitors. For the Forest Products industry, the median ROC (Joel Greenblatt) % is 4.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. UPM-Kymmene Oyj's current ROC (Joel Greenblatt) % is 12.03%, which is 42% below median its own 10-year median of 20.84. 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 (STU:RPL) is currently considered Modestly Undervalued. The stock's GF Value™ is €26.01, compared to a current price of €23.11 — trading 11.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 12.03%, which is 42% below median its 10-year median of 20.84 and 151.4% above the Forest Products industry median of 4.79. UPM-Kymmene Oyj's overall GF Score™ is 77/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For UPM-Kymmene Oyj (STU:RPL), the current ROC (Joel Greenblatt) % is 12.03% 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 UPM-Kymmene Oyj (STU:RPL) Overvalued in 2026?
Based on GuruFocus' analysis, UPM-Kymmene Oyj stock appears to be undervalued.
The current stock price of €23.11 is trading 11.1% below its estimated GF Value™ of €26.01.
GuruFocus considers UPM-Kymmene Oyj to be Modestly Undervalued.
Key valuation signals for STU:RPL:
ROC (Joel Greenblatt) %: 12.03% (42% below median its 10-year median of 20.84)
GF Value™: €26.01 vs. price of €23.11 (11.1% below fair value)
Industry Position: 151.4% above the Forest Products median (#76 of 286)
No single metric tells the full story. See the STU:RPL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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
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