Valuation Result
Final Brand Value
UPM — Paper & Packaging
Valuation date: 10/30/2026
Total Brand Value
€254.1M
This result turns the selected legal, brand, benchmark and discount-rate assumptions into one reviewable brand value estimate.
Brand Strength
68/100
Royalty Rate
0.3%
Discount Rate
9.5%
Benchmark recommendation not unlocked for this result
Sensitivity snapshot
Quick decision check for discount rate, royalty rate and long-term growth.
Variable
Lower input
Current
Higher input
WACC (Discount Rate)
9.5%
-1.0%
€286.6M
9.5%
€254.1M
+1.0%
€228.5M
Royalty Rate
0.3%
-0.5%
N/A
0.3%
€254.1M
+0.5%
€721.3M
Terminal Growth
1.0%
-0.5%
€244.0M
1.0%
€254.1M
+0.5%
€265.6M
Brand Strength changes can also be explored to show their potential effect on brand value. Contact info@brandvaluator.se if you want to explore this for strategy, planning and budgeting.
Revenue Base
€9.7B
Legal Protection
79/100
Long-term Growth
1.0%
Recommendation basis
Brand-strength range • Pro
This reference case derives its royalty rate by applying the brand-strength score to a documented industry royalty ceiling.
This valuation uses benchmark support informed by external market references and curated internal calibration.
Use this section to confirm whether the result reflects unlocked benchmark guidance or a non-benchmark method.
Forecast profile
5 years explicit forecast
High growth: 0.0%
Base growth: 1.0%
Long-term growth: 1.0%
Value build
Value for planning period: €84.9M
Terminal value: €169.3M
How the valuation is built
Valuation Build
| Year | Revenue | Royalty | After Tax | PV |
|---|---|---|---|---|
| Y1 | €9,656,000,000 | €26,264,320 | €21,011,456 | €20,079,324 |
| Y2 | €9,656,000,000 | €26,264,320 | €21,011,456 | €18,337,282 |
| Y3 | €9,656,000,000 | €26,264,320 | €21,011,456 | €16,746,376 |
| Y4 | €9,752,560,000 | €26,526,963 | €21,221,571 | €15,446,429 |
| Y5 | €9,850,085,600 | €26,792,233 | €21,433,786 | €14,247,392 |
| Explicit PV (Y1–Y5) | €84,856,804 | |||
| Terminal Value (undiscounted) | €254,683,813 | |||
| Terminal PV (discounted) | €169,292,535 | |||
| Total Brand Value | €254,149,338 |
Supporting context
This section explains the evidence and judgment used to support the recommendation and the legal, brand and financial assumptions used in the valuation.
Reference case
UPM
Prepared reference case
Indicative value of the UPM name across fibres, energy, adhesive materials, specialty and communication papers and plywood. Forests, mills, technology and enterprise value are excluded.
Communication Papers (EUR 2.493bn sales) is planned to leave consolidation through a Sappi joint venture, and Plywood is under strategic review; neither is removed from the FY2025 base. Comparable EBIT fell 25% in 2025. The 0.40% name-only ceiling and 0.272% selected royalty are analyst assumptions, not an observed licence. Opening hypothetical rent of EUR 26.3m is about 2.9% of EUR 921m FY2025 comparable EBIT. Legal and behavioural inputs are outside-in estimates, not a trademark opinion or customer survey.
Informed by numerous sources including company reporting, investor materials, analyst research, market data and selected benchmark references where relevant.
Key inputs
Reported = directly sourced • Estimated = selected judgment • Inferred = derived from broader evidence • Assumed = inclusion choice
Revenue base
EUR 9.656bn FY2025 group salesreported
Planning growth
0.00% for 3 years, then 1.00%estimated
Long-term growth
1.00%estimated
Royalty rate selected
0.27%estimated
Discount rate
9.50%estimated
Brand Strength
68/100 (B-)estimated
Legal analysis
79/100estimated
Company disclosures
These links lead to company-issued materials. BrandValuator cross-checks indicative estimates against multiple sources; the final assumptions and judgments are our own. Each input is labeled by evidence status above.
Legal Protection
trademark Status86
scope Of Rights82
risk Profile74
litigation74
contractual Rights78
goodwill Evidence80
regulatory Compliance76
Brand Strength
marketing Investment62
quality80
availability80
distinctive Brand Codes72
mental Availability72
consideration72
trust76
choice Share70
penetration70
price Elasticity52
revenue Premium56
margin Premium56
stability62