HLHLY (Holmen AB) ROE %: 4.49% (As of Mar. 2026) — 33% Below 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.

HLHLY Holmen AB HLHLY
81 GF Score
Price $16.18
GF Value $20.89
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Holmen AB ROE %?

Holmen AB HLHLY 81 ROE % is 4.49% as of Mar. 2026, which is 33% below its 10-year median of 6.74. GuruFocus rates HLHLY with a GF Score™ of 81/100 and a GF Value™ of $20.89 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 279 Forest Products companies, Holmen AB ranks better than 64.87% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Holmen AB's annualized net income for the quarter that ended in Mar. 2026 was $265 Mil. Holmen AB's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was $5,913 Mil. Therefore, Holmen AB's annualized ROE % for the quarter that ended in Mar. 2026 was 4.49%.

The historical rank and industry rank for Holmen AB's ROE % or its related term are showing as below:

HLHLY' s ROE % Range Over the Past 10 Years
Min: 4.79   Med: 6.74   Max: 27.47
Current: 4.91

During the past 13 years, Holmen AB's highest ROE % was 27.47%. The lowest was 4.79%. And the median was 6.74%.

HLHLY's ROE % is ranked better than
64.87% of 279 companies
in the Forest Products industry
Industry Median: 2.17 vs HLHLY: 4.91

Holmen AB  (OTCPK:HLHLY) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=265.316/5913.3805
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(265.316 / 2349.632)*(2349.632 / 8766.9695)*(8766.9695 / 5913.3805)
=Net Margin %*Asset Turnover*Equity Multiplier
=11.29 %*0.268*1.4826
=ROA %*Equity Multiplier
=3.03 %*1.4826
=4.49 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=265.316/5913.3805
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Operating Income) * (Operating Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (265.316 / 338.728) * (338.728 / 355.044) * (355.044 / 2349.632) * (2349.632 / 8766.9695) * (8766.9695 / 5913.3805)
= Tax Burden * Interest Burden * Operating Margin % * Asset Turnover * Equity Multiplier
= 0.7833 * 0.954 * 15.11 % * 0.268 * 1.4826
=4.49 %

Note: The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* 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.


Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.


Holmen AB ROE % Related Terms


Holmen AB ROE % Historical Data

* Premium members only.

The historical data trend for Holmen AB's ROE % 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 ROE % Chart

Holmen AB Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.45 10.62 6.53 4.84 5.54

Holmen AB Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROE % 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 5.51 4.41 6.74 4.15 4.49

HLHLY vs SLVM: ROE % Comparison

For the Paper & Paper Products subindustry, Holmen AB's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, Holmen AB's ROE % distribution charts can be found below:

* The bar in red indicates where Holmen AB's ROE % falls into.


HLHLY
81GF Score
Holmen AB HLHLY
ROE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Holmen AB ROE % Calculation

Holmen AB's annualized ROE % for the fiscal year that ended in Dec. 2025 is calculated as

ROE %=Net Income (A: Dec. 2025 )/( (Total Stockholders Equity (A: Dec. 2024 )+Total Stockholders Equity (A: Dec. 2025 ))/ count )
=309.786/( (5222.576+5961.694)/ 2 )
=309.786/5592.135
=5.54 %

Holmen AB's annualized ROE % for the quarter that ended in Mar. 2026 is calculated as

ROE %=Net Income (Q: Mar. 2026 )/( (Total Stockholders Equity (Q: Dec. 2025 )+Total Stockholders Equity (Q: Mar. 2026 ))/ count )
=265.316/( (5961.694+5865.067)/ 2 )
=265.316/5913.3805
=4.49 %

* 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.

In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Mar. 2026) net income data. ROE % is displayed in the 30-year financial page.

Frequently Asked Questions Learn more about ROE % →
What does a ROE % of 4.49% mean?
Holmen AB (HLHLY) has a ROE % of 4.49% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Holmen AB and its competitors. This is 33% below median its historical median of 6.74. Over the past decade, Holmen AB's ROE % has ranged from 4.79 to 27.47. According to the industry distribution chart, Holmen AB ranks #98 out of 279 companies in the Forest Products industry, placing it in the top 35.1%.
Is Holmen AB's ROE % too high?
Holmen AB's current ROE % of 4.49% is 33% below median its 10-year median of 6.74. Over the past 10 years, this metric has ranged from a low of 4.79 to a high of 27.47. The Forest Products industry median ROE % is 2.17. Holmen AB's value of 4.49% is 106.9% above this industry median. Based on the distribution chart, Holmen AB ranks #98 out of 279 companies in the Forest Products industry, which is above the industry midpoint. Overall, Holmen AB has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Holmen AB's ROE % compare to SLVM?
According to the Forest Products industry distribution chart, Holmen AB ranks #98 out of 279 companies for ROE %. This puts Holmen AB in the upper half of its industry. The industry median ROE % is 2.17. Holmen AB's value of 4.49% is 106.9% above this benchmark. Historically, Holmen AB's own ROE % has ranged from 4.79 to 27.47 over the past decade. While the company's 10-year median is 6.74 vs. the industry median of 2.17, 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 ROE % for a Forest Products company?
The median ROE % among Forest Products companies is 2.17, based on 279 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Holmen AB's current ROE % of 4.49% is 106.9% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Holmen AB and its competitors. For the Forest Products industry, the median ROE % is 2.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Holmen AB's current ROE % is 4.49%, which is 33% below median its own 10-year median of 6.74. 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 (HLHLY) is currently considered Modestly Undervalued. The stock's GF Value™ is $20.89, compared to a current price of $16.18 — trading 22.5% below its estimated fair value. The current ROE % is 4.49%, which is 33% below median its 10-year median of 6.74 and 106.9% above the Forest Products industry median of 2.17. Holmen AB's overall GF Score™ is 81/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Holmen AB (HLHLY), the current ROE % is 4.49% 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 Holmen AB (HLHLY) Overvalued in 2026?

Based on GuruFocus' analysis, Holmen AB stock appears to be undervalued. The current stock price of $16.18 is trading 22.5% below its estimated GF Value™ of $20.89. GuruFocus considers Holmen AB to be Modestly Undervalued.

Key valuation signals for HLHLY:

  • ROE %: 4.49% (33% below median its 10-year median of 6.74)
  • GF Value™: $20.89 vs. price of $16.18 (22.5% below fair value)
  • GF Score™: 81/100 with 4 warning signs
  • Industry Position: 106.9% above the Forest Products median (#98 of 279)

No single metric tells the full story. See the HLHLY 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.
81GF Score

Get the complete analysis for HLHLY

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

$16.18
Price
$20.89
GF Value