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STOCK COMPARISON

ZX PACKING ORD A (SHH) EQSW Exp: vs UPM-Kymmene Oyj: Fair Value & Quality

Both stocks run through our valuation models. Here is how ZX PACKING ORD A (SHH) EQSW Exp: (603091) and UPM-Kymmene Oyj (UPM) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees UPM-Kymmene Oyj as the less overvalued of the two: ZX PACKING ORD A (SHH) EQSW Exp: trades at ¥47.75 versus a fair value of ¥18.55 (-61%), while UPM-Kymmene Oyj trades at €25.92 versus €21.04 (-19%).
ZX PACKING ORD A (SHH) EQSW Exp:
603091.SHG · CNY · Materials
-61%
upside to fair value
overvalued
Price¥47.75
Fair Value¥18.55
Quality41/100
UPM-Kymmene Oyj
UPM.HE · EUR · Materials
-19%
upside to fair value
overvalued
Price€25.92
Fair Value€21.04
Quality60/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

ZX PACKING ORD A (SHH) EQSW Exp:UPM-Kymmene Oyj
Valuation
23.8×P/E (TTM)25.4×
4.61×P/S (TTM)1.64×
3.26×P/B1.56×
15.9×EV/EBITDA15.4×
n/aPEG12.89×
−61.2%Fair value upside−18.8%
1.4%Dividend yield5.8%
¥0.69Dividend per share€1.50
Profitability
25%Operating margin10%
1.26×EBIT margin trend (5Y)0.51×
13%Return on equity5%
7%Return on assets2%
Growth
12%Revenue growth (YoY)-5%
4.6%Avg. growth/yr (3Y)-6.3%
n/aAvg. growth/yr (5Y)2.4%
+16.1%Value creation/yr−8.7%
Balance & size
36.9×Interest coverage (EBIT/interest)4.2×
0.08×Debt / equity0.28×
$1BMarket cap$16B
expensiveGrowth qualityweak

ZX PACKING ORD A (SHH) EQSW Exp: leads: 9 to 5 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

ZX PACKING ORD A (SHH) EQSW Exp:of which business quality 44 · market factors 38 UPM-Kymmene Oyjof which business quality 58 · market factors 67
ProfitabilityMargins and returns on capital today
50
26
Quality GrowthAre margins and returns improving?
17
38
CashflowEarnings quality: real cash, not paper profit
41
66
Fin. StrengthBalance sheet, leverage, solvency risk
86
55
InvestmentDisciplined investing over empire-building
0
96
Low VolatilityCalm price path (market factor)
55
90
MomentumPrice trend over the last 3–12 months (market factor)
35
50
52W MomentumDistance to the 52-week high (market factor)
24
69
Net IssuanceShare count: buybacks or dilution?
40
88

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyZX PACKING ORD A (SHH) EQSW Exp:Price ¥47.75UPM-Kymmene OyjPrice €25.92
DCF Modelsn/a-43%below the price€14.71
Earnings-Based-68%below the price¥15.38-84%below the price€4.21
Dividend Discount-76%below the price¥11.53-38%below the price€16.20
Multiples-34%below the price¥31.62-40%below the price€15.45
Asset-Based-78%below the price¥10.27-51%below the price€12.71
Growth DCFn/a-33%below the price€17.31
Economic Profit-60%below the price¥19.25-70%below the price€7.88
Growth Earnings-42%below the price¥27.80-54%below the price€11.81
Minimum-78%below the price¥10.27-84%below the price€4.21
Maximum-34%below the price¥31.62-33%below the price€17.31
Median-64%below the price¥17.32-47%below the price€13.71
Geometric mean-63%below the price¥17.71-55%below the price€11.55

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

ZX PACKING ORD A (SHH) EQSW Exp:: 16 of 16 models see the stock below the current price.

UPM-Kymmene Oyj: 24 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

ZX PACKING ORD A (SHH) EQSW Exp:
Price ¥47.75
Fair Value ¥18.55
Bear ¥13.66Bull ¥25.44
UPM-Kymmene Oyj
Price €25.92
Fair Value €21.04
Bear €15.60Bull €25.27

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

ZX PACKING ORD A (SHH) EQSW Exp: · Materials

Quality score41 · below median
Fair value upside-61% · bottom 25%

UPM-Kymmene Oyj · Materials

Quality score60 · Top 25%
Fair value upside-19% · above median

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees UPM-Kymmene Oyj as the less overvalued of the two: ZX PACKING ORD A (SHH) EQSW Exp: trades at ¥47.75 versus a fair value of ¥18.55 (-61%), while UPM-Kymmene Oyj trades at €25.92 versus €21.04 (-19%).

UPM-Kymmene Oyj has the higher quality score (60/100).

Open UPM-Kymmene Oyj live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.