BOL Stock Analysis: Boliden | ST
Other Industrial Metals & Mining | ST, Sweden | Market Cap: 149.194m SEK | 12M Return: 35.9% | SE0020050417 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 487M
EPS Trend: 71.4%
Qual. Beats: 0
Rev. Trend: 94.8%
Qual. Beats: -2
Warnings
Tailwinds
Seasonality 11.7 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, operating two main segments: Business Area Mines and Business Area Smelters. Its portfolio includes copper, zinc, nickel, lead, gold, silver, cobalt, and various by-products, with mining and smelting operations across Sweden, Finland, Norway, Ireland, and Portugal. The company primarily sells its metals to industrial customers, serving markets in Europe, North America, and beyond, and is headquartered in Stockholm.
As a major player in the Diversified Metals & Mining sub-industry, Boliden benefits from strong global demand for base metals driven by electrification, infrastructure development, and renewable energy applications such as EV batteries and power grids. Its integrated business model-spanning extraction through smelting and recycling-provides vertical control over the value chain, helping to hedge against commodity price volatility and meet growing sustainability requirements in metals supply.
- Copper and zinc prices drive smelter segment margins
- Mining segment free cash flow funds expansion and shareholder returns
- Energy and emissions costs pressure smelter profitability
| Net Income: 12.7b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 0.25 > 1.0 |
| NWC/Revenue: 15.54% < 20% (prev 12.74%; Δ 2.80% < -1%) |
| CFO/TA 0.14 > 3% & CFO 20.8b > Net Income 12.7b |
| Net Debt (18.9b) to EBITDA (27.6b): 0.68 < 3 |
| Current Ratio: 1.57 > 1.5 & < 3 |
| Outstanding Shares: last quarter (284.0m) vs 12m ago -0.05% < -2% |
| Gross Margin: 19.03% > 18% (prev 14.28%; Δ 4.74% > 0.5%) |
| Asset Turnover: 72.15% > 50% (prev 67.09%; Δ 5.06% > 0%) |
| Interest Coverage Ratio: 10.78 > 6 (EBIT TTM 17.7b / Interest Expense TTM 1.64b) |
| A: 0.11 (Total Current Assets 44.2b - Total Current Liabilities 28.1b) / Total Assets 151b |
| B: 0.43 (Retained Earnings 65.6b / Total Assets 151b) |
| C: 0.12 (EBIT TTM 17.7b / Avg Total Assets 144b) |
| D: 1.14 (Book Value of Equity 80.5b / Total Liabilities 70.7b) |
| Altman-Z'' = 4.14 = AA |
| DSRI: 0.71 (Receivables 6.43b/8.04b, Revenue 104b/91.4b) |
| GMI: 0.75 (GM 14.28% / 19.03%) |
| AQI: 0.99 (AQ_t 0.03 / AQ_t-1 0.03) |
| SGI: 1.13 (Revenue 104b / 91.4b) |
| TATA: -0.05 (NI 12.7b - CFO 20.8b) / TA 151b) |
| Beneish M = -3.41 (Cap -4..+1) = AA |
As of October 11, 2026, the stock is trading at SEK 546.20 with a total of 1,131,454 shares traded. Over the past week, the price has changed by +5.12%, over one month by -4.38%, over three months by +4.64% and over the past year by +35.86%.
Current recommended Stop Loss: 523.50 (which is 4.2% or 1.3 ATR below the current price).
Boliden has no consensus analysts rating.
P/E Trailing = 11.844
P/E Forward = 13.2626
P/S = 1.4393
P/B = 1.8656
P/EG = 2.9803
Revenue TTM = 104b SEK
EBIT TTM = 17.7b SEK
EBITDA TTM = 27.6b SEK
Long Term Debt = 21.0b SEK (from longTermDebt, last quarter)
Short Term Debt = 1.70b SEK (from shortTermDebt, last quarter)
Debt = 23.1b SEK (from shortLongTermDebtTotal, last quarter) + Leases 358.0m
Net Debt = 18.9b SEK (calculated: Debt 23.1b - CCE 4.20b)
Enterprise Value = 168b SEK (149b + Debt 23.1b - CCE 4.20b)
Interest Coverage Ratio = 10.78 (Ebit TTM 17.7b / Interest Expense TTM 1.64b)
EV/FCF = 35.38x (Enterprise Value 168b / FCF TTM 4.75b)
FCF Yield = 2.83% (FCF TTM 4.75b / Enterprise Value 168b)
FCF Margin = 4.58% (FCF TTM 4.75b / Revenue TTM 104b)
Net Margin = 12.23% (Net Income TTM 12.7b / Revenue TTM 104b)
Gross Margin = 19.03% ((Revenue TTM 104b - Cost of Revenue TTM 83.9b) / Revenue TTM)
Gross Margin QoQ = 14.90% (prev 20.20%)
Tobins Q-Ratio = 1.11 (Enterprise Value 168b / Total Assets 151b)
Interest Expense / Debt = 7.10% (Interest Expense 1.64b / Debt 23.1b)
Taxrate = 20.95% (3.36b / 16.0b)
NOPAT = 14.0b (EBIT 17.7b * (1 - 20.95%))
Current Ratio = 1.57 (Total Current Assets 44.2b / Total Current Liabilities 28.1b)
Debt / Equity = 0.29 (Debt 23.1b / totalStockholderEquity, last quarter 80.5b)
Debt / EBITDA = 0.68 (Net Debt 18.9b / EBITDA 27.6b)
Debt / FCF = 3.97 (Net Debt 18.9b / FCF TTM 4.75b)
Total Stockholder Equity = 77.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.82% (Net Income 12.7b / Total Assets 151b)
RoE = 16.31% (Net Income TTM 12.7b / Total Stockholder Equity 77.7b)
RoCE = 17.90% (EBIT 17.7b / Capital Employed (Equity 77.7b + L.T.Debt 21.0b))
RoIC = 11.59% (NOPAT 14.0b / Invested Capital 121b)
WACC = 10.79% (E(149b)/V(172b) * Re(11.59%) + D(23.1b)/V(172b) * Rd(7.10%) * (1-Tc(0.21)))
Discount Rate = 11.59% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 87.74 | Cagr: 1.69%
[DCF] Terminal Value 70.50% ; FCFF base≈4.43b ; Y1≈5.07b ; Y5≈7.47b
[DCF] Fair Price = 209.8 (EV 78.5b - Net Debt 18.9b = Equity 59.6b / Shares 284.0m; r=10.79% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 71.38 | EPS CAGR: 24.29% | SUE: 0.01 | # QB: 0
Revenue Correlation: 94.82 | Revenue CAGR: 10.36% | SUE: -1.67 | # QB: -2
EPS current Quarter (2026-09-30): EPS=11.38 | Chg30d=+6.12% | Revisions=+17% | Analysts=4
EPS current Year (2026-12-31): EPS=43.83 | Chg30d=+1.26% | Revisions=-47% | GrowthEPS=+31.3% | GrowthRev=+25.9%
EPS next Year (2027-12-31): EPS=54.91 | Chg30d=+5.01% | Revisions=+25% | GrowthEPS=+25.3% | GrowthRev=+16.6%
[Analyst] Revisions Ratio: -29% (up=6, down=12)