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Kemira Oyj (KEMIRA) Fair Value & Analysis

Basic Materials · FI · Market cap €2.4B

KO Kemira Oyj KEMIRA · HE
Price€17.57
Fair Value€18.12
Upside+3.1%
Quality66/100
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Mixed Growth
Thin margins · 6.1% net margin
Low debt · generates free cash flow
4.63% dividend yield
Ranks above peers (10/15)
Moderate moat 47/100
Evidence: High Range €11.66 – €26.17 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from €18.37 to €18.12 (−1.4%) since Jul 14, 2026. Share price +5.3% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (€11.66 to €26.17) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€22.45 €9.15 Fair Value €18.12 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range €9.15 – €22.45 · fair‑value band €11.66 – €26.17 · the €17.57 price screens below the €18.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Kemira Oyj (KEMIRA) currently trades at €17.57, while our model-based Fair Value estimate is €18.12, implying the stock looks roughly 3.1% fairly valued today. The Quality Score stands at 66/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Kemira Oyj generated revenue of €2.7B at a net margin of 6.1%. Revenue declined 4.4% year over year. It earns a return on equity of 10.7%. Net debt stands at €655M. Fundamentals as of Aug 13, 2026

Our scenario range runs from €11.66 (bear case) to €26.17 (bull case); at €17.57, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 16% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -60% fair-value upside, at 3%, KEMIRA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF €10.48 €14.46 €21.24 80
Residual Income €10.31 €11.50 €16.63 76
Rev-Margin DCF €12.48 €19.93 €29.09 74
All 24 models by family
DCF Models
FCF DCF €10.01 €14.12 €21.74 38
Owner Earnings €10.22 €14.41 €22.17 31
5Y Revenue Exit €12.48 €19.65 €30.21 39
5Y EBITDA Exit €15.65 €25.09 €37.75 41
5Y P/E Exit €11.19 €17.42 €24.97 38
10Y Revenue Exit €10.95 €16.39 €22.40 36
10Y EBITDA Exit €13.28 €19.75 €26.87 37
10Y P/E Exit €10.62 €15.01 €19.29 35
Earnings-Based
Graham-Dodd €8.51 €11.60 €13.46 54
EPV €11.97 €14.14 €16.01 59
Dividend Discount
Gordon GGM €7.65 €8.34 €9.38 70
DDM Multi-Stage €7.65 €9.65 €12.25 61
Multiples
P/E Multiple €15.96 €21.28 €26.60 63
P/S Multiple €15.96 €21.28 €26.60 58
P/B Multiple €15.96 €21.28 €26.60 55
EV/EBIT €18.15 €24.77 €31.40 53
EV/EBITDA €22.84 €31.03 €39.23 54
EV/Revenue €15.49 €22.88 €30.26 43
Asset-Based
NCAV (Graham) €5.80 €7.77 €11.59 50
Growth DCF
Growth DCF €10.48 €14.46 €21.24 80
Rev-Margin DCF €12.48 €19.93 €29.09 74
Economic Profit
Residual Income €10.31 €11.50 €16.63 76
ROIC Compounder €11.98 €14.44 €17.11 72
Growth Earnings
Growth-Adj P/E €11.37 €16.24 €21.11 68

Widest divergence: Multiples (€21.28) versus Asset-Based (€7.77). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €2.7B
Revenue growth (YoY) -4.4%
Net margin 6.1%
Return on equity 10.7%
Free cash flow €182M FY2025
P/E ratio 16.1
More key figures
Operating margin 9.8%
EPS (TTM) €1.09
Dividend yield 4.6%
EPS growth (YoY) -24.5%
Net debt €655M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 64 · Market factors (momentum, volatility) 49

Profitability 58
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 86
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Kemira Oyj operates as a chemicals company in Finland, rest of Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates in three segments: Water Solutions, Packaging & Hygiene Solutions, and Fiber Essentials.

Full company description

Kemira Oyj operates as a chemicals company in Finland, rest of Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates in three segments: Water Solutions, Packaging & Hygiene Solutions, and Fiber Essentials. It offers clean, safe, and affordable drinking water through efficient water processing, wastewater treatment, and reuse, supported by advanced digital technologies for customers in municipalities and water intensive industries. The company also provides functional and safe products enabled by efficient and compliant production processes and advanced digital technologies, serving customers in packaging, board, and tissue. In addition, it offers bright, clean, and strong pulp produced through efficient pulping and bleaching processes supported by advanced digital technologies for customers in pulp production. Kemira Oyj was founded in 1920 and is headquartered in Helsinki, Finland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kemira Oyj reported revenue of €2.8B in FY2025 versus €2.7B in FY2021, a compound +0.7%/yr. Reported net income was €181M in FY2025, compounding +13.8%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€2.8B
Latest YoY
−6.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−8.3%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.6%
Avg. growth/yr (27Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.5%
Revenue +0.7%/yr
FY21 €2.7B
FY22 €3.6B
FY23 €3.4B
FY24 €2.9B
FY25 €2.8B
Net income +13.8%/yr
FY21 €108M
FY22 €232M
FY23 €199M
FY24 €249M
FY25 €181M
Character of growth · EPS growth decomposed (2014-2025) +10.5 % p.a.
Revenue per share +3.0 pp

of which total revenue +3.1 pp · buybacks/dilution −0.2 pp

EBIT margin +6.1 pp
Tax rate −0.1 pp
Residual (interest, one-offs) +1.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Kemira Oyj Fair Value". https://www.fairvalue-calculator.com/stock/KEMIRA

Peer Group

Chemicals · 331 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 66 · Top 25%
Fair Value upside +3% · Above median
Return on equity (TTM) 11% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth -4% · Below median
Dividend yield (TTM) 4.6% · Top 25%
Debt / equity 0.29× · Higher than median

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 16.1× · Cheaper than median
P/B 1.65× · Pricier than median
P/S (TTM) 1.02× · Cheaper than median
P/FCF 15.3× · Pricier than 75% of peers
EV/EBITDA 7.0× · Cheaper than median
PEG 4.02× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 37 · sector 0
FUTURE 0 · sector 19
PAST 43 · sector 20
HEALTH 85 · sector 94
DIVIDEND 93 · sector 28

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 467.04 MXN -55%
PT Barito Pacific Tbk, BRPT 1,950 IDR 1,608 IDR -18%
LG Chem, Ltd 051910 275,500 KRW 587,755 KRW +113%
SRF Limited 503806 ₹2,609 ₹749.17 -71%
542812 542812 ₹4,709 ₹791.05 -83%
Navin Fluorine International Limited NAVINFLUOR ₹8,357 ₹2,146 -74%
506285 506285 ₹4,048 ₹1,589 -61%
Kansai Nerolac Paints Limited 500165 ₹209.25 ₹80.51 -62%
Deepak Nitrite Limited DEEPAKNTR ₹1,718 ₹679.17 -60%
KCC Corporation 002380 454,000 KRW 1,763,304 KRW +288%

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Frequently asked questions

Is Kemira Oyj (KEMIRA) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €18.12 versus a price of €17.57, about +3% (fairly valued).
What is the fair value of KEMIRA?
Our model-based fair value for Kemira Oyj is €18.12 (as of Aug 13, 2026), built from audited fundamentals. The current price is €17.57.
What is the quality score of KEMIRA?
Kemira Oyj has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Kemira Oyj (KEMIRA)?
Kemira Oyj reported trailing-twelve-month revenue of about €2.7B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of KEMIRA?
The net profit margin of Kemira Oyj is about 6.1%, meaning it keeps roughly 6.1% of revenue as net income. Based on the latest reported figures.
Does Kemira Oyj pay a dividend?
Kemira Oyj currently shows a dividend yield of about 4.27% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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