Forecast

Financial forecast

Project revenue, EBITDA, net income and free cash flow for the next 5 or 10 years. Growth starts at the same rate the valuation uses and fades to the long-run rate, with margins held at today's level. Bear and bull cases move growth by the company's own revenue volatility. It is a model of what the assumptions imply, not a prediction.

Huhtamäki Oyj (HUH1V.HE)

Price updated 06 Nov 2026 09:56; TTM through 30 Sep 2026; TTM financials updated 06 Nov 2026 13:41.

Starts from TTM through 30 Sep 2026 financials in EUR and a share price of EUR 26.74. Growth begins at 2.0% a year (the valuation's blended assumption) and fades to 2.4% by year 10. Margins held at EBITDA 14.7%, net 5.3%, free cash flow 6.3% of revenue. Bear and bull move starting growth by 3.0 points and long-run growth by 1 point.

Year 1 uses analyst consensus revenue growth (3.3%); year 2 is halfway back to the model's own path.
EUR 23.89Model fair value (Free-cash-flow DCF); range EUR 14.49 to EUR 41.34
-11%Fair value vs today's price
HighModel confidence
75%Share of the gap to fair value the price closes by year 5

Confidence: Earnings-based DCF agrees; trailing-twelve-month data; profit and cash flow steady for 3 years.

5.1%/yrModel-implied annual total return over 10 years, base case (price plus dividends). Raw model level; the screener shows a calibrated ranking instead
EUR 5.01BRevenue in year 10 (base)
EUR 264.98MNet income in year 10 (base)
EUR 317.57MFree cash flow in year 10 (base)
EUR 1.39Dividend per share in year 10 (base)
EUR 31.17Implied share price in year 10 (base), today EUR 26.74
11.3%Year-10 free cash flow per share vs today's price

Free cash flow over time

EUR 0 EUR 96.18M EUR 192.37M EUR 288.55M EUR 384.73M FY2022 FY2023 FY2024 FY2025 TTM through 30 Sep 2026 +1 +2 +3 +4 +5 +6 +7 +8 +9 +10
Solid: reported Dashed: base projection Shaded: bear to bull range
Free cash flow in year 10 by scenario
CaseStarting growthYear 10Annual growth
Bear 0.4% EUR 261.05M 0.4%
Base 3.3% EUR 317.57M 2.4%
Bull 6.3% EUR 384.73M 4.4%

Base case by year

YearGrowthRevenueEBITDANet incomeFree cash flowEPSFCF / shareDividend / shareBook / shareImplied price
TTM through 30 Sep 2026– EUR 3.95BEUR 581.80MEUR 209.10MEUR 250.60M 1.992.381.1018.5126.74
Year 13.3% EUR 4.09BEUR 601.17MEUR 216.06MEUR 258.94M 2.062.461.1419.4327.19
Year 22.7% EUR 4.20BEUR 617.33MEUR 221.87MEUR 265.90M 2.112.531.1720.3727.46
Year 32.1% EUR 4.28BEUR 630.22MEUR 226.50MEUR 271.46M 2.162.581.1921.3327.57
Year 42.1% EUR 4.37BEUR 643.67MEUR 231.34MEUR 277.25M 2.202.641.2222.3227.69
Year 52.2% EUR 4.47BEUR 657.69MEUR 236.37MEUR 283.29M 2.252.701.2423.3227.81
Year 62.2% EUR 4.57BEUR 672.30MEUR 241.63MEUR 289.58M 2.302.761.2724.3528.43
Year 72.3% EUR 4.67BEUR 687.54MEUR 247.10MEUR 296.15M 2.352.821.3025.4029.07
Year 82.3% EUR 4.78BEUR 703.43MEUR 252.81MEUR 302.99M 2.412.881.3326.4829.74
Year 92.4% EUR 4.89BEUR 720.00MEUR 258.77MEUR 310.13M 2.462.951.3627.5830.44
Year 102.4% EUR 5.01BEUR 737.28MEUR 264.98MEUR 317.57M 2.523.021.3928.7131.17

EPS and free cash flow per share assume today's share count. Dividends assume today's payout ratio and book value grows with retained earnings. The implied share price follows the valuation models and is not a price target; override growth settings do not change the model fair value. Margins stay at today's level except where the notes say they drift toward their average, so it does not model margin expansion, buybacks, acquisitions or recessions. It is for information and education only and is not investment advice. See the methodology for how the growth rate is blended.