UPM-Kymmene Oyj vs Klabin S.A.: Fair Value & Quality
Both stocks run through our valuation models. Here is how UPM-Kymmene Oyj (UPM) and Klabin S.A. (KLBN11) compare, as of Aug 14, 2026.
As of Aug 14, 2026, Fair Value Calculator sees UPM-Kymmene Oyj as the less overvalued of the two: UPM-Kymmene Oyj trades at €23.00 versus a fair value of €19.43 (-16%), while Klabin S.A. trades at BRL 17.51 versus BRL 3.80 (-78%).
UPM-Kymmene Oyj
UPM.HE · EUR · Materials
-16%
upside to fair value
overvalued
Price€23.00
Fair Value€19.43
Quality60/100
Klabin S.A.
KLBN11.SA · BRL · Materials
-78%
upside to fair value
overvalued
PriceBRL 17.51
Fair ValueBRL 3.80
Quality51/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
UPM-Kymmene OyjKlabin S.A.
Valuation
23.0×P/E (TTM)26.6×
1.50×P/S (TTM)1.16×
1.43×P/B3.05×
14.3×EV/EBITDA7.2×
12.89×PEG—
6.4%Dividend yield9.5%
€1.50Dividend per shareBRL 1.65
Profitability
6%Net margin2%
10%Operating margin6%
5%Return on equity5%
2%Return on assets2%
Growth
-5%Revenue growth (YoY)2%
-6.3%Avg. growth/yr (3Y)1.1%
2.4%Avg. growth/yr (5Y)11.6%
Balance & size
0.28×Debt / equity4.43×
$14BMarket cap$24B
mixedGrowth qualityhealthy
Klabin S.A. leads: 5 to 8 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
UPM-Kymmene Oyjof which business quality 58 · market factors 50Klabin S.A.of which business quality 51 · market factors 53
ProfitabilityMargins and returns on capital today
26
34
Quality GrowthAre margins and returns improving?
38
61
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
96
61
Low VolatilityCalm price path (market factor)
90
94
MomentumPrice trend over the last 3–12 months (market factor)
31
39
52W MomentumDistance to the 52-week high (market factor)
36
32
Net IssuanceBuybacks instead of dilution
88
58
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
UPM-Kymmene Oyj
DCF Models€14.17
Earnings-Based€4.21
Dividend Discount€16.20
Multiples€15.45
Asset-Based€12.71
Growth DCF€16.37
Economic Profit€7.88
Growth Earnings€11.81
24 of 24 models see the stock below the current price.
Klabin S.A.
DCF ModelsBRL 6.86
Earnings-BasedBRL 2.63
Dividend DiscountBRL 2.75
MultiplesBRL 3.89
Asset-BasedBRL 0.86
Growth DCFBRL 6.19
Economic ProfitBRL 2.69
Growth EarningsBRL 3.80
26 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
UPM-Kymmene Oyj
Bear €14.58Fair Value €19.43Bull €25.27
€23.00 = current price (white tick)
Klabin S.A.
Bear BRL 2.11Fair Value BRL 3.80Bull BRL 4.86
BRL 17.51 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
UPM-Kymmene Oyj · Materials
Quality score60 · Top 25%
Fair value upside-16% · above median
Klabin S.A. · Materials
Quality score51 · above median
Fair value upside-78% · bottom 25%
Bottom line
As of Aug 14, 2026, Fair Value Calculator sees UPM-Kymmene Oyj as the less overvalued of the two: UPM-Kymmene Oyj trades at €23.00 versus a fair value of €19.43 (-16%), while Klabin S.A. trades at BRL 17.51 versus BRL 3.80 (-78%).
UPM-Kymmene Oyj has the higher quality score (60/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
