Basic Materials · Paper & Paper Products · Nasdaq Stockholm · Sweden
kr 2.51-1.38%
Market cap kr 669MNext earnings 2026-10-22Updated Oct 23, 2026
Our verdict
Trades 61% below our fair value
Price
kr 2.51
Model fair valueConfidence: low
about kr 6.50
Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a loss-making company: Analyst consensus.
ACCE opinionRottneros AB (publ) (RROS.ST)
Fair value
Not available
ACCE price target
kr 2.80
Rating
Not rated
Horizon
12 months
ACCE price target published on 23 Oct 2026, 01:52 CEST.
Price used: kr 2.51 at the close on 23 Oct 2026, 17:30 CEST.
Models: Analyst consensus.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
36
out of 100
1-year return
-13.4%
Dividend yield
0.00%
Rottneros AB (publ) in four questions
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Overview
ACCE thesis
Rottneros makes market pulp, mainly bleached softwood kraft, at mills in Sweden, and it sells that pulp into tissue, specialty paper and board producers across Europe. The business is a commodity one, so the investment case rests on cost position and balance sheet rather than on any product differentiation. Revenue fell 15.7% in the latest reported year and operating margin slipped to -1.0%, with ROE at -21.2%, so the earnings base is currently under pressure. The stock trades at a forward P/E of 2.5 on a 678M SEK market cap, which prices in a sharp recovery in pulp prices or margins that the reported figures do not yet show. This is a cyclical turnaround candidate worth a deeper look only if the next leg of pulp pricing and mill utilisation data supports a return to positive operating margins.
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
severe
Negative free cash flow
Free cash flow is $-237,000,000 against a market cap of SEK 750M, so the cash burn is large relative to the equity value and the balance sheet cannot absorb it for long.
high
Revenue and earnings falling
Revenue is down 15.7% year on year and earnings are down 16.8%, while operating margin sits at -1.0% and net margin at -13.1%.
high
Heavy insider ownership, thin float
Insiders hold 64.2% and institutions 7.4%, so a small free float may make the stock illiquid and prone to large price moves.
moderate
Negative return on equity
ROE is -21.2%, meaning the company is eroding shareholder equity rather than compounding it, despite a 4.2% five-year revenue CAGR.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Analysts' mean price target of SEK 6.50 sits far above the current share price, implying a sharp rebound if they prove right.
Over five years revenue has grown 4.2% a year on average, showing the business has expanded before this downturn.
Debt is modest at 0.26 times equity, so the balance sheet gives the company room to ride out weak trading.
Why it could disappoint
Revenue fell 15.7% year over year, a sharp reversal that undermines confidence in near-term earnings.
Free cash flow over the last twelve months was negative at SEK 237M, so the business is consuming cash rather than generating it.
The diluted share count rose 75.0% last year, meaning each existing shareholder owns a much smaller slice of the company.
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Valuation
INVESTOR
Where RROS.ST's valuation models land
Price
kr 2.51
Model fair valueConfidence: low
about kr 6.50
Model
Fair value
Upside
Analyst consensus
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Wall Street consensus
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