Kemira Oyj (KEMIRA) fair value: what the stock is really worth
As of Sep 28, 2026: fair value of Kemira Oyj €18.63, price €17.28, upside +7.8%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range €9.15 – €22.45 · fair‑value band €12.48 – €26.60 · the €17.28 price screens below the €18.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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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.
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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.
Stock analysis
Kemira Oyj (KEMIRA) currently trades at €17.28, while our model-based Fair Value estimate is €18.63, so the stock looks roughly fairly valued today (gap 7.2%).
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Valuation
Bull case: the Multiples group reads highest at a median of €21.28 per share, and 11 of the 24 models we run sit above the €17.28 price.
Bear case: the Asset-Based group reads lowest at €7.77, and 13 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: €12.48 (bear) to €26.60 (bull), the price of €17.28 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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.
Key figures
Market cap €2.7B · P/E ratio 15.9 · P/S ratio 1.04 · EPS (TTM) €1.09 · Dividend yield 4.3% · Net margin 6.6% · Return on equity 10.7% · Return on assets (EBIT) 8.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −25% fair-value upside, at 8%, KEMIRA screens cheaper than that median.
Fair Value models
Bear €12.48Fair Value €18.63Bull €26.60
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€0.2608 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+14.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.3%
Dividend (yield on the price)4.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.10.3% vs 7.1%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.9% → 10%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +1.0% a year for the price and +1.5% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Chemicals · 353 stocks
Beats the industry median on 11/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside+7.8% · Above median
Profitability
Return on equity (TTM)10.7% · Top 25%
Return on assets5.2% · Top 25%
Net margin (TTM)6.1% · Above median
Operating margin (TTM)9.8% · Above median
Growth and dividend
Revenue growth−4.4% · Below median
Dividend yield (TTM)4.3% · Top 25%
Balance sheet
Debt / equity0.29× · Above median
Valuation Multiplesvs Chemicals median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Kemira Oyj Fair Value". https://www.fairvalue-calculator.com/stock/KEMIRA
Frequently asked questions
Is Kemira Oyj (KEMIRA) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of €18.63 versus a price of €17.28, about +8% upside (fairly valued).
What is the fair value of KEMIRA?
Our model-based fair value for Kemira Oyj is €18.63 (as of Sep 27, 2026), built from audited fundamentals. The current price: €17.28.
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 price target for Kemira Oyj (KEMIRA)?
Our model-based price target is the fair value of €18.63 (as of Sep 27, 2026) from 24 valuation models. Cautious scenario €12.48, optimistic scenario €26.60. It is a calculation from audited fundamentals, not an analyst target.
What is the Kemira Oyj stock forecast for 2026?
Our models put fair value at €18.63, about +8% upside versus a price of €17.28 (fairly valued). Cautious scenario €12.48, optimistic scenario €26.60. The calculation is refreshed regularly with new filings.
What is the revenue of Kemira Oyj (KEMIRA)?
Kemira Oyj reported trailing-twelve-month revenue of about €2.7B (latest available figure, as of Sep 27, 2026).
Does Kemira Oyj pay a dividend?
Kemira Oyj currently shows a dividend yield of about 4.28% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Kemira Oyj (KEMIRA)?
For today's price to be fair in a discounted-cash-flow model, Kemira Oyj would have to grow free cash flow by +3.2 % per year for five years (discount rate 8.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.6 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of KEMIRA use?
Our models discount Kemira Oyj at 8.6 %: a base by market capitalisation (mid), damped by beta 0.42, country premium for Finland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Kemira Oyj that is +3.2 % per year a year over ten years, using the same discount rate (8.6 %) and the same formula as our fair value.
How much growth has Kemira Oyj (KEMIRA) delivered so far?
Over the past 5 years revenue at Kemira Oyj grew +2.6 % a year. The price currently implies +3.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Kemira Oyj (KEMIRA) growing?
The median revenue growth in the sector is +4.4 % a year. That is the yardstick for the growth priced into Kemira Oyj (+3.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kemira Oyj (KEMIRA)?
The free-cash-flow yield on the price is 6.82 %: that much free cash flow Kemira Oyj produces per unit of market value. When it exceeds the discount rate of our models (8.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kemira Oyj (KEMIRA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kemira Oyj it is €18.63 per share (as of Sep 27, 2026), against a price of €17.28. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Kemira Oyj stock overvalued or undervalued in 2026?
As of Sep 27, 2026, KEMIRA trades below its calculated fair value: price €17.28, fair value €18.63, a gap of about +8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of KEMIRA?
No. The price is what the market pays today (€17.28); the fair value is what the company's own numbers justify (€18.63). For Kemira Oyj the two are €1.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kemira Oyj worth?
The market values Kemira Oyj at about €2.7B (market capitalisation, as of Sep 27, 2026). Per share that is €17.28; our models calculate a fair value of €18.63 per share.
What do the bullish and bearish scenarios say about KEMIRA?
Our models span a range for Kemira Oyj: cautious scenario €12.48, base €18.63, optimistic €26.60 per share (as of Sep 27, 2026, price €17.28). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KEMIRA?
Kemira Oyj trades at a price-to-earnings ratio of 15.9 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €18.63 is built from several models across several years. Other multiples: PEG 4.0, P/B 1.6, P/S 1.0, EV/EBITDA 6.7.
What is the PEG ratio of KEMIRA?
The PEG ratio of Kemira Oyj is 4.02 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Kemira Oyj (KEMIRA)?
Balance-sheet figures for Kemira Oyj (as of Sep 27, 2026): return on equity 10.7%, debt of 0.29 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is KEMIRA from its 52-week high?
Kemira Oyj trades at €17.28, about 18% below its 52-week high of €20.99 and 6% above the low of €16.24 (as of Sep 28, 2026). Distance from the high says nothing about value: that is what the fair value of €18.63 is for.
Which stocks are comparable to Kemira Oyj?
From the same area (Basic Materials) we also value Ningxia Baofeng Energy Group, Dow Inc, Hengli Petrochemical Co, Zangge Mining Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Kemira Oyj stock attractive at the current price?
The data as of Sep 27, 2026: price €17.28, calculated fair value €18.63 (+8%), Quality Score 66/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of KEMIRA calculated?
We run Kemira Oyj through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €18.63, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.9 % above its aggregate fair value. Kemira Oyj currently trades 8 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Kemira Oyj (KEMIRA)?
The closing price on Sep 28, 2026 was €17.28. Our model-based fair value is €18.63, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kemira Oyj right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (€12.48 to €26.60) leaves room in how you read the outcome.
Where does the earnings growth of Kemira Oyj (KEMIRA) come from?
Earnings per share at Kemira Oyj grew +10.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.0 %, EBIT margin +6.1 %, tax rate −0.1 %, residual (interest, one-offs) +1.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Kemira Oyj
How large is the market capitalisation of Kemira Oyj (KEMIRA)?
The market capitalisation of Kemira Oyj is €2.7B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Kemira Oyj (KEMIRA)?
The price-to-sales ratio of Kemira Oyj is 1.04 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kemira Oyj (KEMIRA)?
Earnings per share at Kemira Oyj are €1.09 (price ÷ EPS = P/E 15.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kemira Oyj (KEMIRA)?
The dividend yield of Kemira Oyj is 4.3% (payout 67.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Kemira Oyj (KEMIRA)?
The net margin of Kemira Oyj is 6.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Kemira Oyj (KEMIRA)?
The return on equity (ROE) of Kemira Oyj is 10.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Kemira Oyj (KEMIRA)?
On an EBIT basis the return on assets of Kemira Oyj is 8.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Kemira Oyj (KEMIRA)?
The operating margin of Kemira Oyj is 9.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kemira Oyj (KEMIRA)?
Revenue at Kemira Oyj is growing −4.4% versus a year earlier (3y avg −8.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Kemira Oyj (KEMIRA)?
Earnings per share at Kemira Oyj are growing −24.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kemira Oyj (KEMIRA) carry?
The net debt of Kemira Oyj is €655M (fiscal year 2025, ≈ 3.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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