Boliden AB (BOL) Fair Value & Analysis
Basic Materials · SE · Market cap 146B SEK (≈ $15.3B) · ISIN SE0020050417
What is Boliden AB really worth?
A solid business, but trading 19% above our fair value of kr 461.48.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 24 valuation models · updated 22 days ago
Share price +6.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide (kr 249.24 to kr 703.75). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range kr 217.76 – kr 706.64 · fair‑value band kr 249.24 – kr 703.75 · the kr 547.60 price screens above the kr 461.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Boliden AB (BOL) currently trades at kr 547.60, while our model-based Fair Value estimate is kr 461.48, implying the stock looks roughly 18.7% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Basic Materials sector. Bull case: the Multiples group reads highest at a median of kr 563.00 per share, and 7 of the 24 models we run sit above the kr 547.60 price. Bear case: the Asset-Based group reads lowest at kr 180.53, and 17 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Boliden AB generated revenue of 100B SEK at a net margin of 11.0%. Revenue grew 31.7% year over year. It earns a return on equity of 14.7%. Net debt stands at 14.6B SEK. Fundamentals as of Aug 13, 2026
Our scenario range runs from kr 249.24 (bear case) to kr 703.75 (bull case); at kr 547.60, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 23% below its 52-week high and 98% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −42% fair-value upside, at −16%, BOL screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 18.86 per share, which is 4.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Multiples (kr 563.00) versus Asset-Based (kr 180.53). Highest evidence: FCF DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 59
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Boliden AB (publ) engages in the extracting, producing, and recycling of base metals in Sweden, Finland, other Nordic region, Germany, the United Kingdom, Europe, North America, and internationally. The company operates through Business Area Mines and Business Area Smelters segments.
Full company description
Boliden AB (publ) engages in the extracting, producing, and recycling of base metals in Sweden, Finland, other Nordic region, Germany, the United Kingdom, Europe, North America, and internationally. The company operates through Business Area Mines and Business Area Smelters segments. It explores copper, zinc, nickel, lead, gold, silver, cobalt, sulphuric acid, tellurium, platinum, palladium, rhodium, iridium, ruthenium, and osmium deposits. The company operates the Aitik, the Boliden Area, and Garpenberg mines in Sweden; the Tara mine in Ireland; the Kevitsa mines in Finland; the Somincor mine in Portugal; Kokkola smelters in Finland; Odda zinc smelters in Norway; the Rönnskär smelter in Sweden; Harjavalta copper smelters in Finland; and the Bergsöe lead smelter in Sweden. It sells its metals primarily to industrial customers. The company was founded in 1924 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Boliden AB reported revenue of 93.5B SEK in FY2025 versus 68.6B SEK in FY2021, a compound +8.0%/yr. Reported net income was 9.4B SEK in FY2025, compounding +2.0%/yr from FY2021.
of which total revenue +9.3 % · buybacks/dilution −0.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
BOL screens 19% overvalued. Compare with BHP Group →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Boliden to acquire controlling stake in Nexa Resources
- Boliden's mining concession for Laver maintained as appeals rejected
- Boliden AB (BLIDF) Q2 2026 Earnings Call Highlights: Strong EBIT Growth Amid Operational Challenges
- Boliden Q2 2026: Continued favorable metal prices
Peer Group
Other Industrial Metals & Mining · 469 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHP | A$66.84 | A$42.16 | −37% |
| Vale S.A VALE | $15.31 | $8.95 | −42% |
| Saudi Arabian Mining Company 1211 | 65.50 SAR | 33.87 SAR | −48% |
| CMOC Group 603993 | ¥18.42 | ¥16.15 | −12% |
| Teck Resources Limited TECK | $69.34 | $32.02 | −54% |
| Hindustan Zinc Limited HINDZINC | ₹573.00 | ₹508.34 | −11% |
| China Tungsten And Hightech Materials Co 000657 | ¥66.76 | ¥9.55 | −86% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥41.02 | ¥10.59 | −74% |
| Western Mining Co 601168 | ¥37.85 | ¥25.99 | −31% |
| Korea Zinc Company 010130 | 1,145,000 KRW | 646,063 KRW | −44% |
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