BOL Stock Analysis: Boliden | ST
Other Industrial Metals & Mining | ST, Sweden | Market Cap: 145.953m SEK | 12M Return: 72.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 565M
EPS Trend: 54.8%
Qual. Beats: 0
Rev. Trend: 90.8%
Qual. Beats: -1
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Boliden AB is a Swedish mining and smelting company that extracts, produces, and recycles base metals across the Nordic region and broader European market. Its operations are split into two segments: Business Area Mines and Business Area Smelters, giving it a vertically integrated value chain from raw extraction through metal refining. The company produces a broad mix of metals including copper, zinc, nickel, lead, gold, silver, and cobalt, along with by-products such as sulphuric acid and platinum-group metals. It operates multiple mines (Aitik, Boliden Area, and Garpenberg in Sweden; Tara in Ireland; Kevitsa in Finland; Somincor in Portugal) and several smelters (Kokkola and Harjavalta in Finland, Odda in Norway, Rönnskär and Bergsöe in Sweden). Metals are sold primarily to industrial customers, and the company is headquartered in Stockholm.
As a major European player in the Diversified Metals & Mining sub-industry, Boliden benefits from integration between its mining and smelting operations, which allows it to capture margin at multiple stages of the base-metals value chain. The Nordic and Iberian regions are recognized as some of Europes most important sources of zinc and copper ore, areas in which Boliden holds long-established positions.
- Copper and zinc prices swing Mines segment revenue
- Smelter treatment charges tighten, pressuring Smelters margins
- Nordic power costs weigh on smelter profitability
| Net Income: 11.0b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 3.68 > 1.0 |
| NWC/Revenue: 19.35% < 20% (prev 21.04%; Δ -1.68% < -1%) |
| CFO/TA 0.17 > 3% & CFO 24.5b > Net Income 11.0b |
| Net Debt (13.5b) to EBITDA (25.5b): 0.53 < 3 |
| Current Ratio: 1.76 > 1.5 & < 3 |
| Outstanding Shares: last quarter (284.0m) vs 12m ago 3.54% < -2% |
| Gross Margin: 17.65% > 18% (prev 15.73%; Δ 1.92% > 0.5%) |
| Asset Turnover: 75.05% > 50% (prev 77.55%; Δ -2.51% > 0%) |
| Interest Coverage Ratio: 9.91 > 6 (EBIT TTM 15.6b / Interest Expense TTM 1.57b) |
| A: 0.13 (Total Current Assets 45.0b - Total Current Liabilities 25.6b) / Total Assets 149b |
| B: 0.44 (Retained Earnings 65.6b / Total Assets 149b) |
| C: 0.12 (EBIT TTM 15.6b / Avg Total Assets 134b) |
| D: 1.20 (Book Value of Equity 81.2b / Total Liabilities 67.4b) |
| Altman-Z'' = 4.34 = AA |
| DSRI: 0.75 (Receivables 7.30b/8.95b, Revenue 100b/91.8b) |
| GMI: 0.89 (GM 15.73% / 17.65%) |
| AQI: 0.80 (AQ_t 0.03 / AQ_t-1 0.03) |
| SGI: 1.09 (Revenue 100b / 91.8b) |
| TATA: -0.09 (NI 11.0b - CFO 24.5b) / TA 149b) |
| Beneish M = -3.40 (Cap -4..+1) = AA |
As of July 11, 2026, the stock is trading at SEK 520.00 with a total of 875,996 shares traded. Over the past week, the price has changed by -1.44%, over one month by +3.50%, over three months by -2.22% and over the past year by +72.76%.
Current recommended Stop Loss: 483.60 (which is 7% or 1.8 ATR below the current price).
Boliden has no consensus analysts rating.
P/E Trailing = 13.2304
P/E Forward = 12.7877
P/S = 1.4565
P/B = 1.8611
P/EG = 2.9803
Revenue TTM = 100b SEK
EBIT TTM = 15.6b SEK
EBITDA TTM = 25.5b SEK
Long Term Debt = 21.1b SEK (from longTermDebt, last quarter)
Short Term Debt = 2.04b SEK (from shortTermDebt, last quarter)
Debt = 23.5b SEK (from shortLongTermDebtTotal, last quarter) + Leases 358.0m
Net Debt = 13.5b SEK (calculated: Debt 23.5b - CCE 9.99b)
Enterprise Value = 159b SEK (146b + Debt 23.5b - CCE 9.99b)
Interest Coverage Ratio = 9.91 (Ebit TTM 15.6b / Interest Expense TTM 1.57b)
EV/FCF = 19.08x (Enterprise Value 159b / FCF TTM 8.36b)
FCF Yield = 5.24% (FCF TTM 8.36b / Enterprise Value 159b)
FCF Margin = 8.34% (FCF TTM 8.36b / Revenue TTM 100b)
Net Margin = 11.01% (Net Income TTM 11.0b / Revenue TTM 100b)
Gross Margin = 17.65% ((Revenue TTM 100b - Cost of Revenue TTM 82.5b) / Revenue TTM)
Gross Margin QoQ = 20.20% (prev 23.24%)
Tobins Q-Ratio = 1.07 (Enterprise Value 159b / Total Assets 149b)
Interest Expense / Debt = 6.69% (Interest Expense 1.57b / Debt 23.5b)
Taxrate = 21.17% (2.96b / 14.0b)
NOPAT = 12.3b (EBIT 15.6b * (1 - 21.17%))
Current Ratio = 1.76 (Total Current Assets 45.0b / Total Current Liabilities 25.6b)
Debt / Equity = 0.29 (Debt 23.5b / totalStockholderEquity, last quarter 81.2b)
Debt / EBITDA = 0.53 (Net Debt 13.5b / EBITDA 25.5b)
Debt / FCF = 1.62 (Net Debt 13.5b / FCF TTM 8.36b)
Total Stockholder Equity = 75.3b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.26% (Net Income 11.0b / Total Assets 149b)
RoE = 14.66% (Net Income TTM 11.0b / Total Stockholder Equity 75.3b)
RoCE = 16.17% (EBIT 15.6b / Capital Employed (Equity 75.3b + L.T.Debt 21.1b))
RoIC = 10.24% (NOPAT 12.3b / Invested Capital 120b)
WACC = 10.36% (E(146b)/V(169b) * Re(11.18%) + D(23.5b)/V(169b) * Rd(6.69%) * (1-Tc(0.21)))
Discount Rate = 11.18% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 48.37 | Cagr: 1.68%
[DCF] Terminal Value 71.75% ; FCFF base≈5.93b ; Y1≈6.80b ; Y5≈10.0b
[DCF] Fair Price = 343.7 (EV 111b - Net Debt 13.5b = Equity 97.6b / Shares 284.0m; r=10.36% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 54.83 | EPS CAGR: 16.31% | SUE: -0.24 | # QB: 0
Revenue Correlation: 90.79 | Revenue CAGR: 8.52% | SUE: -1.75 | # QB: -1
EPS current Quarter (2026-06-30): EPS=8.35 | Chg30d=+14.69% | Revisions=+17% | Analysts=7
EPS next Quarter (2026-09-30): EPS=10.86 | Chg30d=+11.09% | Revisions=-17% | Analysts=5
EPS current Year (2026-12-31): EPS=43.59 | Chg30d=+7.41% | Revisions=+18% | GrowthEPS=+30.6% | GrowthRev=+27.3%
EPS next Year (2027-12-31): EPS=53.77 | Chg30d=+5.15% | Revisions=+8% | GrowthEPS=+23.4% | GrowthRev=+8.2%
[Analyst] Revisions Ratio: +12% (up=13, down=10)