Metso Oyj (METSO.HE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-69.0%

€5.26

vs €16.96 price

Levered DCF

€4.15

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.38

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	29.37×	22.45×	13.89×	25.29×	25.97×	43.05×	38.4×	-8.54×
P/B	4.66×	2.86×	2.91×	3.4×	3.44×	2.96×	2.79×	1.53×
P/S	2.37×	1.53×	1.41×	1.5×	1.83×	1.82×	0.87×	0.45×
EV / EBITDA	14.52×	9.59×	8.88×	13.81×	13.87×	16.89×	2.73×	-52.55×
Gross margin	32.0%	33.4%	31.6%	26.2%	27.8%	26.8%	29.8%	15.4%
Operating margin	14.0%	14.9%	14.9%	9.5%	10.0%	7.2%	8.9%	-5.2%
Net margin	8.1%	6.8%	10.1%	5.7%	8.1%	4.2%	2.3%	-5.3%
Current ratio	1.48×	1.54×	1.6×	1.36×	1.26×	1.53×	1.07×	1.29×
Debt / equity	0.6×	0.62×	0.59×	0.55×	0.42×	0.66×	0.77×	0.54×
Interest coverage	6.87×	6.92×	7.97×	11.45×	18.48×	8.24×	11.41×	-9.44×
Dividend yield	2.5%	4.0%	3.3%	2.5%	2.1%	3.0%	14.1%	0.0%
Payout ratio	74.5%	90.6%	45.7%	65.8%	48.5%	129.7%	542.1%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.9%	12.6%	20.8%	12.9%	15.2%	6.8%	7.3%	-18.0%
Return on invested capital	12.2%	12.0%	12.2%	9.3%	9.0%	4.7%	12.1%	-8.4%
Return on assets	5.9%	4.7%	7.6%	4.5%	5.9%	2.5%	1.8%	-5.0%
Free cash flow yield	5.1%	1.9%	1.7%	0.2%	5.4%	6.7%	4.7%	8.5%
Earnings yield	3.4%	4.4%	7.2%	3.8%	4.4%	2.3%	2.6%	-11.7%
Enterprise value	€13.5B	€8.6B	€8.5B	€8.6B	€8.2B	€6.8B	€1.1B	€541.3M
Net debt / EBITDA	1.18×	1.31×	0.93×	1.1×	0.81×	2×	0.05×	3.15×
Cash conversion cycle (days)	241	250	231	200	176	33	165	134