Stora Enso Oyj (STE.R) AI Stock Analysis

Stora Enso Oyj

(Nasdaq OMX AB:STE.R)

Select Model

Rating:53Neutral

Price Target:SEK 109.00▲(4.81% Upside)

Action:reiterated

Date:10/24/26

The score is driven primarily by mixed fundamentals: profitability has improved and leverage is manageable, but persistent negative free cash flow and weaker cash conversion materially raise risk. Technicals are also weak with the stock below key moving averages and negative momentum indicators. Valuation is a partial offset with a reasonable P/E, though the dividend yield is modest.

Positive Factors

Profitability RecoveryThe return to positive net and operating margins shows that Stora Enso has restored profitability after the 2023–2024 losses. Although margins remain below earlier peaks, a profitable base can support reinvestment and provide resilience if operating conditions remain stable.

Negative Factors

Persistent Negative Free Cash FlowSustained negative free cash flow means reported profits are not currently translating into cash available for debt reduction, dividends, or reinvestment. Until cash conversion improves, the recovery remains less durable and capital allocation flexibility stays constrained.

Stora Enso Oyj (STE.R) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 82.74B
Dividend Yield: 1.43%
Average Volume (3M): 231.84K
Price to Earnings (P/E): 13.0
Beta (1Y): 1.15
Revenue Growth: -3.86%
EPS Growth: ―
Country: Sweden
Employees: 18,515
Sector: General
Sector Strength: 55
Industry: Packaging & Containers

Stora Enso Oyj Business Overview & Revenue Model

Company Description

Headquartered in Helsinki, Finland, and established in 1996, Stora Enso Oyj is a global provider of sustainable and renewable solutions across several key industries. The company's operations are diversified into segments such as Packaging Materials,...

How the Company Makes Money

Stora Enso makes money primarily by selling wood-based products and related solutions to business customers. Key revenue streams include: (1) Packaging materials and solutions: revenue from supplying paperboard and other fiber-based packaging materia...

Stora Enso Oyj Financial Statement Overview

Summary

Earnings have rebounded with TTM net margin (~6.6%) and operating margin (~8.9%) recovering from 2023–2024 losses, and leverage is manageable (TTM debt-to-equity ~0.44). However, revenue is slightly down (~-3.2% TTM) and cash conversion is a major concern: free cash flow is negative in TTM (-0.05B) and has been negative for multiple years despite positive net income, pressuring confidence in the durability of the recovery.

Income Statement

62Positive

Balance Sheet

74Positive

Cash Flow

36Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.32B	9.33B	9.05B	9.40B	11.68B	10.16B
Gross Profit	2.06B	2.71B	3.57B	3.05B	5.15B	4.68B
EBITDA	1.35B	1.34B	603.00M	226.00M	2.30B	2.10B
Net Income	578.00M	695.00M	-136.00M	-357.00M	1.55B	1.27B
Balance Sheet
Total Assets	19.66B	19.06B	19.80B	20.75B	20.92B	19.03B
Cash, Cash Equivalents and Short-Term Investments	1.56B	1.28B	2.02B	2.46B	1.92B	1.53B
Total Debt	5.18B	4.47B	5.73B	4.92B	3.92B	3.87B
Total Liabilities	8.01B	8.41B	9.81B	9.87B	8.42B	8.36B
Stockholders Equity	11.80B	10.80B	10.14B	10.98B	12.53B	10.68B
Cash Flow
Free Cash Flow	-50.00M	-130.00M	-161.00M	-237.00M	878.00M	832.00M
Operating Cash Flow	531.00M	645.00M	952.00M	752.00M	1.58B	1.48B
Investing Cash Flow	240.00M	60.00M	-1.13B	-1.31B	-742.00M	-449.00M
Financing Cash Flow	-774.00M	-1.49B	-301.00M	1.08B	-450.00M	-1.22B

Stora Enso Oyj Technical Analysis

Technical Analysis SentimentNegative

Last Price104.00

Price Trends

50DMA112.34Negative

100DMA108.39Negative

200DMA108.49Negative

Market Momentum

MACD-1.72Positive

RSI32.94Neutral

STOCH17.34Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:STE.R, the sentiment is Negative. The current price of 104.00 is below the 20-day moving average (MA) of 109.86, below the 50-day MA of 112.34, and below the 200-day MA of 108.49, indicating a bearish trend. The MACD of -1.72 indicates Positive momentum. The RSI at 32.94 is Neutral, neither overbought nor oversold. The STOCH value of 17.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:STE.R.

Stora Enso Oyj Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:STE.R against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:SCA.B	62Neutral	SEK 84.54B	39.09	2.14%	2.49%	-3.07%	-38.98%
SE:HOLM.A	60Neutral	SEK 45.08B	21.68	3.83%	3.19%	-5.15%	-24.57%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:STE.R	53Neutral	SEK 82.74B	12.99	3.71%	1.43%	-3.86%	―
SE:BILL	51Neutral	SEK 21.59B	93.33	0.84%	2.30%	-9.00%	-80.79%
SE:BONG	44Neutral	SEK 138.07M	-1.83	-7.47%	―	-6.42%	-59.66%

* General Sector Average

Performance Comparison

SE:STE.R and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:STE.R	Stora Enso Oyj	104.00	-2.85	-2.67%
SE:BILL	BillerudKorsnas AB	86.80	1.58	1.86%
SE:HOLM.A	Holmen AB	298.00	-43.11	-12.64%
SE:SCA.B	Svenska Cellulosa Sca Ab	120.40	-0.34	-0.28%
SE:BONG	Bong AB	0.32	-0.24	-43.29%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 24, 2026

Stora Enso Oyj AI Stock Analysis