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Metsa Board Valuation Multiples

Discover revenue and EBITDA valuation multiples for Metsa Board and similar public comparables like Caltagirone, Breedon Group, YFY, Batısöke Çimento and more.

Metsa Board Overview

About Metsa Board

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.


Founded

1986

HQ

Finland

Employees

2.1K

Financials (LTM)

Revenue: $2B
EBITDA: $75M

EV

$2B

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Metsa Board Financials

Metsa Board reported last 12-month revenue of $2B and EBITDA of $75M.

In the same LTM period, Metsa Board generated $75M in gross profit, $75M in EBITDA, and had net loss of ($108M).

Revenue (LTM)


Metsa Board P&L

In the most recent fiscal year, Metsa Board reported revenue of $2B and EBITDA of $23M.

Metsa Board is unprofitable as of last fiscal year, with gross margin of 15%, EBITDA margin of 1%, and net margin of (9%).

See analyst estimates for Metsa Board
LTMLast FY202320242025202620272028
Revenue$2B$2B$2B$2B$2B
Gross Profit$75M$310M$429M$436M$310M
Gross Margin4%15%19%19%15%
EBITDA$75M$23M$264M$212M($2M)
EBITDA Margin4%1%12%9%(0%)
EBIT Margin(3%)(5%)2%2%(8%)
Net Profit($108M)($182M)$110M$29M($182M)
Net Margin(5%)(9%)5%1%(9%)
Net Debt-$226M---

Financial data powered by Morningstar, Inc.

Metsa Board Stock Performance

Metsa Board has current market cap of $1B, and enterprise value of $2B.

Market Cap Evolution


Metsa Board's stock price is $3.55.

Metsa Board share price increased by 0.1% in the last 30 days, and decreased by 8.9% in the last year.

Metsa Board has an EPS (earnings per share) of $-0.51.

See more trading valuation data for Metsa Board
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$2B$1B2.4%0.1%-5.4%-8.9%$-0.51

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Metsa Board Valuation Multiples

Metsa Board trades at 0.8x EV/Revenue multiple, and 22.1x EV/EBITDA.

See NTM and 2027E valuation multiples for Metsa Board

EV / Revenue (LTM)


Metsa Board Financial Valuation Multiples

As of June 3, 2026, Metsa Board has market cap of $1B and EV of $2B.

Metsa Board has a P/E ratio of (11.6x).

LTMLast FY202320242025202620272028
EV/Revenue0.8x0.8x0.7x0.7x0.8x
EV/EBITDA22.1x72.0x6.3x7.8xn/m
EV/EBIT(31.0x)(15.0x)39.6x38.8x(9.9x)
EV/Gross Profit22.1x5.3x3.9x3.8x5.3x
P/E(11.6x)(6.9x)11.4x42.8x(6.9x)
EV/FCF21.9x13.6x11.5x(11.3x)13.8x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Metsa Board Valuation Multiples

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Metsa Board Margins & Growth Rates

Metsa Board decreased revenue by 8% but EBITDA grew by 536% in the last fiscal year.

In the most recent fiscal year, Metsa Board reported gross margin of 15%, EBITDA margin of 1%, and net margin of (9%).

See estimated margins and future growth rates for Metsa Board

Metsa Board Margins

Last FY202420252026202720282029
Gross Margin15%19%15%6%
EBITDA Margin1%9%(0%)8%
EBIT Margin(5%)2%(8%)1%
Net Margin(9%)1%(9%)0%
FCF Margin6%(7%)6%1%

Metsa Board Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth(8%)(0%)(8%)(6%)
Gross Profit Growth(64%)2%(29%)(64%)
EBITDA Growth536%(20%)(101%)(9775%)
EBIT Growth(123%)2%(490%)(115%)
Net Profit Growth(102%)(73%)(719%)(102%)
FCF Growth(90%)(201%)(182%)(89%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Metsa Board Operational KPIs

Metsa Board's revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.2M for the same period.

Metsa Board's Rule of 40 is 1% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Metsa Board's Rule of X is (8%) (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for Metsa Board
LTMLast FY202320242025202620272028
Rule of 402%1%---
Bessemer Rule of X(0%)(8%)---
Revenue per Employee-$1.0M---
Opex per Employee-$0.2M---
Opex to Revenue-23%17%17%23%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Metsa Board Competitors

Metsa Board competitors include Caltagirone, Breedon Group, YFY, Batısöke Çimento, Suncrete, Saudi Cement, Siam City Cement, Yamama Cement, Altri and Canfor.

Most Metsa Board public comparables operate across Paper & Forest Products and Building Materials.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
Caltagirone0.2x-1.0x-
Breedon Group0.9x0.9x5.3x5.3x
YFY0.9x-7.9x-
Batısöke Çimento10.8x-83.4x-
Suncrete10.5x4.9x44.6x23.4x
Saudi Cement3.0x3.1x8.1x8.9x
Siam City Cement1.0x1.0x4.7x4.6x
Yamama Cement4.6x-8.6x-

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Metsa Board VC Funding History

Before going public, Metsa Board raised $200K in total equity funding, across 1 round.


Metsa Board Funding Rounds

DateStageRaised FromRaisedValuationRev. MultipleDeal Summary
Aug-19SeedY Combinator$200K--

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About Metsa Board

When was Metsa Board founded?Metsa Board was founded in 1986.
Where is Metsa Board headquartered?Metsa Board is headquartered in Finland.
How many employees does Metsa Board have?As of today, Metsa Board has over 2K employees.
Who is the CEO of Metsa Board?Metsa Board's CEO is Esa Kaikkonen.
Is Metsa Board publicly listed?Yes, Metsa Board is a public company listed on Nasdaq Helsinki.
What is the stock symbol of Metsa Board?Metsa Board trades under METSB ticker.
When did Metsa Board go public?Metsa Board went public in 1987.
Who are competitors of Metsa Board?Metsa Board main competitors include Caltagirone, Breedon Group, YFY, Batısöke Çimento, Suncrete, Saudi Cement, Siam City Cement, Yamama Cement, Altri, Canfor.
What is the current market cap of Metsa Board?Metsa Board's current market cap is $1B.
What is the current revenue of Metsa Board?Metsa Board's last 12 months revenue is $2B.
What is the current revenue growth of Metsa Board?Metsa Board revenue growth (NTM/LTM) is (2%).
What is the current EV/Revenue multiple of Metsa Board?Current revenue multiple of Metsa Board is 0.8x.
What is the current EBITDA of Metsa Board?Metsa Board's last 12 months EBITDA is $75M.
What is Metsa Board's EBITDA margin?Metsa Board's last 12 months EBITDA margin is 4%.
What is the current EV/EBITDA multiple of Metsa Board?Current EBITDA multiple of Metsa Board is 22.1x.
What is the current FCF of Metsa Board?Metsa Board's last 12 months FCF is $76M.
What is Metsa Board's FCF margin?Metsa Board's last 12 months FCF margin is 4%.
What is the current EV/FCF multiple of Metsa Board?Current FCF multiple of Metsa Board is 21.9x.
How many companies Metsa Board has acquired to date?Metsa Board hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies Metsa Board has invested to date?Metsa Board hasn't invested in any companies yet (or none have been disclosed publicly).

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