May 2026
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Largest Paper & Forest Products Public Companies in Finland
Benchmark revenue and EBITDA valuation multiples for public comps like
UPM-Kymmene, Stora Enso, Valmet, Metsa Board and Koskisen.
 | 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 a major electricity generator in Finland and is one of the global 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. | $29 | +9% | $15B | $19B | 1.6x | 11.6x | ||
| Stora Enso Oyj is a renewable materials company. It provides renewable products in packaging, biomaterials, and wooden construction, and private forest owners. Its operating segments are Packaging Materials, Packaging Solutions, Biomaterials, Wood Products, Forest, and others. The Packaging Solutions division develops and sells premium fiber-based packaging products and services. Its high-end eco-friendly packaging products are used by brands across multiple market sectors, including the retail, e-commerce, and industrial sectors. Key revenue is generated from the Packaging Solutions segment. | $12 | +9% | $9B | $13B | 1.2x | 7.8x | ||
| Valmet Oyj is a Finland-based company that supplies technologies, automation solutions, and other services to customers in the pulp, paper, packaging, tissue, and energy industries. The company operates in two segments; Biomaterial Solutions and Services, covering pulp, energy, circularity, packaging, paper, and tissue; and Process Performance Solutions, focusing on flow control and automation technologies. The company generates maximum revenue from the Biomaterial Solutions and Services segment. | $26 | -15% | $5B | $6B | 0.9x | 6.8x | ||
| Metsa Board Oyj is the European producer of premium lightweight paperboards. Its product portfolio includes pulp, boxboard, and linerboard, which are used in foodservice and consumer goods packaging. The company's customers are typically boxboard printers, carton board manufacturers in the food, cosmetics, and pharmaceutical industries, and manufacturers of branded goods and wholesalers. It operates fiber mills that produce its fiber-based products from timber. The Company operates in European Nations like Germany, Sweden, Spain, etc., and also in other countries like the UK, Norway, Canada, Asia, and Turkey. The majority of the revenue is generated in Europe. | $3 | -11% | $1B | $2B | 0.8x | 70.7x | ||
| Koskisen Corp is a family-owned wood-processing company. It has two business segments namely Sawn Timber Industry and Panel Industry. The Sawn Timber Industry business segment produces sawn and further-processed timber and the Panel Industry business segment produces plywood, thin plywood, veneers, chipboards, and interior solutions for light and heavy commercial vehicles under the Kore brand. The company earns the majority of its revenue from the Sawn Timber Industry segment. | $10 | +1% | $248M | $324M | 0.8x | 9.4x | ||
| LapWall Oyj is a manufacturer and developer of wood elements. The LapWall LEK - Element System covers everything from sales to installation. LapWall LEKO - Element System contains more than 50 products, all of which are wooden elements. | $5 | +17% | $70M | $66M | 1.4x | 10.6x | ||
| Median | $11 | +5% | $3B | $4B | 1.1x | 10.0x |
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