olivLaw · European equity research
Metso Oyj METSO.HE
Finland · Nasdaq Helsinki · Vertical: Listed companies from Finland
Metso Oyj is a Finnish supplier of equipment, services and consumables for the mining and aggregates industries, with a strict governance framework for investor disclosure. Its official filings show how auditing, insider rules and market relations are managed, and these rules matter for the company's transparency today.
At the close of 05 Nov 2026, Metso Oyj (METSO.HE) stock was 17.09 EUR (+0.53% on the day), with market capitalisation 14.2 bn EUR, P/E 33.5 on diluted EPS of 0.51 EUR over the last 12 months, dividend yield 2.22%, beta 1.37, 52-week range 13.45–18.85 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 52.3
- neutral
- Bollinger (20, 2)
- 16.10 – 17.51
- in the upper half of the band · %B 0.70 · band width 8.4%
- SMA 50 / 200
- 17.17 / 16.21
- mixed trend
- MACD (12, 26, 9)
- 0.03 / -0.04
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −1.1% | −0.6% | −0.5 pp | — |
| 3 months | +1.1% | −4.2% | +5.3 pp | — |
| 6 months | +14.9% | +4.3% | +10.5 pp | — |
| Year to date | +14.1% | +7.5% | +6.6 pp | — |
| 1 year | +22.2% | +9.9% | +12.3 pp | −1.2% |
| 3 years | +97.4% | +49.8% | +47.5 pp | +6.8% |
| 5 years | +78.9% | +42.8% | +36.1 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 2-quarter history (min 22.5, median 25.9, max 29.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2024 | 2025 |
|---|---|---|
| Revenue | 5.0 bn | 5.2 bn |
| Revenue YoY | unavailable | +4.3% |
| Net income | 329.0 m | 423.0 m |
| Net income YoY | unavailable | +28.6% |
| Diluted EPS | 0.40 | 0.51 |
| Diluted EPS YoY | unavailable | +27.5% |
| net % | 6.5% | 8.1% |
| Free cash flow | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 501.0 m EUR
- Financial debt
- 1.5 bn EUR
- Net debt
- 966.0 m EUR
- Equity
- 2.7 bn EUR
- Total assets
- 7.2 bn EUR
- Debt / equity
- 0.55x
- Current ratio
- unavailable
- ROE
- 16.0%
- ROA
- 5.9%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Revenue | 5.0 bn | 5.2 bn | esef· 04 Mar 2026verified |
| Cost of revenue | 3.4 bn | 3.6 bn | esef· 04 Mar 2026verified |
| Gross profit | 1.7 bn | 1.7 bn | esef· 04 Mar 2026verified |
| Research & development | 106.0 m | 109.0 m | esef· 04 Mar 2026verified |
| Operating income | 749.0 m | 735.0 m | esef· 04 Mar 2026verified |
| Interest expense | 105.0 m | 107.0 m | esef· 04 Mar 2026verified |
| Pre-tax income | 670.0 m | 636.0 m | esef· 04 Mar 2026verified |
| Income tax | 163.0 m | 150.0 m | esef· 04 Mar 2026verified |
| Net income | 329.0 m | 423.0 m | esef· 04 Mar 2026verified |
| Diluted EPS | 0.40 | 0.51 | esef· 04 Mar 2026verified |
| Dividend per share | 0.36 | 0.38 | esef· 04 Mar 2026derived |
Balance sheet · EUR
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Cash | 431.0 m | 501.0 m | esef· 04 Mar 2026verified |
| Inventories | 1.9 bn | 1.9 bn | esef· 04 Mar 2026verified |
| Property, plant & equipment, net | 549.0 m | 609.0 m | esef· 04 Mar 2026verified |
| Goodwill | 1.1 bn | 1.3 bn | esef· 04 Mar 2026verified |
| Intangibles (excl. goodwill) | 803.0 m | 811.0 m | esef· 04 Mar 2026verified |
| Total assets | 7.0 bn | 7.2 bn | esef· 04 Mar 2026verified |
| Short-term debt | 165.0 m | 98.0 m | esef· 04 Mar 2026verified |
| Long-term debt | 1.3 bn | 1.4 bn | esef· 04 Mar 2026verified |
| Equity | 2.6 bn | 2.7 bn | esef· 04 Mar 2026verified |
| Shares outstanding at year end | 822.5 m | 829.4 m | esef· 04 Mar 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 39.6% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 14.2 bn EUR
Key indicators
Coverage and freshness
Score by group
40% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.20 – 9.43 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E4.20 – 9.43 (Mid 5.66)23 companies used · median multiple 11.1x · quartiles 8.2x – 18.5xALMA.HE, APETIT.HE, ASPO.HE, ATRAV.HE, BIOBV.HE, CAPMAN.HE, CONSTI.HE, DIGIA.HE, ELEAV.HE, ELISA.HE, ENENTO.HE, ETTE.HE, FORTUM.HE, FSECURE.HE, GLA1V.HE, GRK.HE, HARVIA.HE, ICP1V.HE, ILKKA.HE, INVEST.HE, KALMAR.HE, KAMUX.HE, KCR.HE
- Dividend discount (DDM)5.17 – 7.04 (Mid 5.96)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 39.6% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 15.4% | 72 (vs peers) | 26% |
| Net margin · Quality | 8.1% | 64 (vs peers) | 16% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 6.9x | 83 (on a fixed band) | 16% |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 33.5x | 21 (vs peers) | 26% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 2.2% | 32 (on a fixed band) | 16% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial83/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality69/100 · 2/3 factors with a value
- Returns· partial32/100 · 1/2 factors with a value
- Valuation· partial21/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
METSO OYJ (METSO.HE). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 5.2 bn EUR in 2025; YoY growth 4.3%; net margin 8.1%; ROE 16.1%.
The estimated value range is 4.68–8.24 EUR per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 5.81 EUR, the price of 17.09 EUR leaves a potential of -66.0% (value / price − 1) and a margin of safety of -194.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 39.6% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 15.4%
- Interest coverage: 6.9x
What contradicts it
- P/E (TTM): 33.5x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Current ratio, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Finland · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| FORTUM.HEFortum Oyj | 20.8 bn | 27.2 | 8.7% | 15.3% | −14.0% | +32% / +81% |
| METSO.HEMetso Oyj | 14.2 bn | 33.5 | 16.1% | 8.1% | +4.3% | +21% / +89% |
| ELISA.HEElisa Oyj | 5.6 bn | 16.3 | 27.0% | 15.2% | +3.0% | −8% / −15% |
| KALMAR.HEKalmar Oyj | 2.4 bn | 14.7 | 24.1% | 9.4% | +1.2% | +0% / unavailable |
| KCR.HEKonecranes Oyj | 2.2 bn | 5.6 | 20.3% | 9.5% | −0.9% | −4% / +134% |
| EXEL.HEExel Composites Oyj | 1.8 bn | — | -18.5% | -5.3% | +3.6% | +163% / +74% |
| BITTI.HEBittium Oyj | 1.2 bn | 55.8 | 17.5% | 17.9% | +40.1% | +73% / +603% |
| ALMA.HEAlma Media Oyj | 1.2 bn | 21.2 | 23.0% | 16.9% | +4.6% | +9% / +57% |
| FIA1S.HEFinnair Oyj | 927.4 m | 50.4 | 2.9% | 0.6% | +1.9% | +54% / +22% |
| GRK.HEGRK Infra Oyj | 788.5 m | 18.3 | 27.8% | 4.9% | +19.7% | +52% / unavailable |
| HARVIA.HEHarvia Oyj | 768.7 m | 29.3 | 21.0% | 13.3% | +13.5% | −1% / +64% |
| ATRAV.HEAtria Oyj | 451.7 m | 11.1 | 9.8% | 2.2% | +3.3% | +13% / +57% |
| ANORA.HEAnora Group Oyj | 317.6 m | 57.8 | 1.4% | 0.8% | −4.9% | +26% / +11% |
| CAPMAN.HECapMan Oyj | 300.2 m | 23.1 | 6.8% | 20.9% | +9.4% | −8% / −20% |
| ICP1V.HEIncap Oyj | 261.0 m | 18.7 | 10.4% | 6.5% | −6.7% | −3% / +37% |
| FSECURE.HEF-Secure Oyj | 243.7 m | 10.9 | 43.4% | 15.3% | −0.4% | −17% / −23% |
| ASPO.HEAspo Oyj | 219.4 m | 9.3 | 15.4% | 5.0% | +2.1% | +2% / +9% |
| ETTE.HEEtteplan Oyj | 173.7 m | 16.4 | 8.8% | 2.9% | +0.1% | −27% / −51% |
| DIGIA.HEDigia Oyj | 131.6 m | 10.5 | 14.5% | 5.9% | +5.5% | −16% / −12% |
| ILKKA.HEIlkka Oyj | 93.8 m | 8.1 | 6.2% | 30.8% | +22.6% | +0% / +21% |
| CONSTI.HEConsti Oyj | 77.4 m | 11.6 | 15.3% | 2.0% | +2.9% | −8% / −6% |
| APETIT.HEApetit Oyj | 75.6 m | 8.4 | 8.2% | 5.4% | +3.1% | −14% / −3% |
| ESENSE.HEEnersense International Oyj | 74.9 m | 74.7 | 3.1% | 0.4% | −27.7% | +12% / +9% |
| CTH1V.HEComponenta Oyj | 66.1 m | 324.0 | 0.8% | 0.2% | −4.6% | +49% / +182% |
| KAMUX.HEKamux Oyj | 47.4 m | 10.3 | 4.2% | 0.5% | +0.8% | −40% / −77% |
1- and 3-year price returns: for METSO.HE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 10.08 Total return -39% · Per year -39% | 17.82 Total return 7% · Per year 7% | 26.84 Total return 60% · Per year 60% |
| 3 years | 9.73 Total return -38% · Per year -15% | 19.37 Total return 21% · Per year 6% | 32.04 Total return 97% · Per year 25% |
| 5 years | 9.40 Total return -37% · Per year -9% | 21.05 Total return 36% · Per year 6% | 38.25 Total return 141% · Per year 19% |
- Exit P/E± 4.84
- Net margin± 3.39
- Annual revenue growth± 2.79
- Annual dilution± 0.28
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Metso Oyj is a Finnish supplier of equipment, services and consumables for the mining and aggregates industries, with a strict governance framework for investor disclosure. Its official filings show how auditing, insider rules and market relations are managed, and these rules matter for the company's transparency today.
SWOT
Strengths
- Governance is structured, with dedicated committees for audit and remuneration, which supports investor confidence.
- The company has a clear segment structure, with heads responsible for each business line.
- Disclosure policies are rigorous, including closed periods and strict rules on inside information.
Weaknesses
- The text analysed gives no detailed financial data on segment performance, which limits the assessment.
- Audit and assurance costs are rising, which could add pressure on administrative margins.
- Changing the responsible auditor requires an adjustment period, and this transition may raise operational questions.
Opportunities
- Verified sustainability reporting could strengthen the company's reputation with institutional investors.
- Greater transparency in governance could make it easier to access capital on favourable terms.
- The management team's experience across several divisions could support expansion of services to customers.
Threats
- Growing European regulatory pressure could impose additional compliance costs.
- Dependence on the mining and aggregates sectors exposes the company to investment cycles in those industries.
- Errors in sustainability reporting or in handling inside information could damage reputation.
Risks
- Compliance with inside information rulesmedium
A breach of the MAR rules could bring sanctions and undermine market confidence.
- Sustainability reportingmedium
Reporting requirements may increase complexity and the risk of errors in published data.
- Auditor transitionlow
Changing the audit team could introduce variations in verification procedures in the short term.
- Cyclicality of customer sectorshigh
Lower investment in mining could weigh on orders for equipment and services.
- Related-party transactionslow
Any transactions not made on market terms could create conflicts of interest.
Investment thesis
What would need to be true (bull case)
- If governance and transparency stay at the level described, the company could benefit from greater investor confidence.
- The segment structure and management experience could support growth in services and consumables.
- Verified sustainability reporting could open access to investors focused on ESG criteria.
What would break the thesis
- If investment in mining falls, orders for equipment could recover more weakly than expected.
- Compliance and audit costs could keep rising and reduce administrative margins.
- Personnel changes in audit and management may introduce uncertainty during the transition period.
What to watch
- Trend in orders for the services and consumables segmentsQ1 2027
- Company guidance on revenue from mining2027
- Audit and assurance costs in the next reportnext 10-K
- Any changes to the inside information disclosure policy2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The core source for this profile is the Metso Oyj 2025 annual report, filed with Nasdaq Helsinki, which describes the governance structure, auditing and insider trading rules. The company is run by a board of directors with a chair and vice chair and by an executive team that includes heads of the services, minerals, consumables and aggregates segments. The report states that Ernst & Young was reappointed as auditor for 2025 1.
Segments
Consumables for mining
This segment is led by a dedicated head within the executive team, which indicates a distinct operating structure. The source does not give sales figures for this segment in the text available 1.
Services
The services segment has its own head in the executive team and represents a separate part of the company's portfolio. The text analysed does not detail how this segment developed in 2025 1.
Minerals
The minerals segment is run by a dedicated head and complements the group's other divisions. The source contains no financial data on it in the fragment available 1.
Market context
The market Metso serves is linked to mining, mineral processing and aggregates, sectors sensitive to investment in capacity and to the mining cycle. The official fragments analysed contain no figures on market size or company share, so these points cannot be assessed from this source 1.
The European regulatory framework, including the rules on inside information and sustainability reporting, shapes how the company presents its results. The report mentions assurance of the sustainability report under international standards 1.
Trends
- Sustainability reportingmixed
In 2025 Metso published a sustainability report with limited assurance under the European reporting directive. This could increase transparency but requires additional compliance resources 1.
- Inside information regulationmixed
Trading policies, closed periods and the register of persons with access to information are applied strictly under the MAR regulation. This framework protects investors but may limit flexibility in communication 1.
- Auditor rotationtailwind
Ernst & Young has been auditor since 2020, and European rules require an audit firm not to serve more than ten consecutive terms. Changes in the responsible personnel can bring new perspectives to the audit 1.
- Compliance costsheadwind
Audit and assurance fees are rising slightly, reflecting the growing complexity of reporting. If this trend continues, administrative costs could become a pressure for the company 1.
Competitive position
The fragments analysed do not describe Metso Oyj's competitors. The official source focuses on governance and financial rules rather than on positioning against other mining and aggregates equipment makers 1.
Assessing competitive position would require further data on market shares and products, which does not appear in the text available. For this reason no competing companies with a US ticker are identified in this profile 1.
- Competitor not named in source
The source analysed does not identify direct competitors, so no verified name can be given.
- Competitor not named in source
Without data from the source, a verified comparison with other suppliers in the same category cannot be made.
- Competitor not named in source
The official report gives no details on competitors, so this position remains unconfirmed.
- Competitor not named in source
The lack of market data makes it impossible to identify a fourth competitor from the source available.
News & filings
In the press
- Metso to acquire hose and cavity pumps business from ValmetYahoo Finance — News · 24 Aug 2026 · EN
Annual reports (ESEF)
- Annual report 202504 Mar 2026
- Annual report 202504 Mar 2026
- Annual report 202504 Mar 2026
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Metso Oyj · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.