Toggle main navigation Section navigation Investors Financial information Calculation of key figures Calculation of key figures (1) EBITA: Earnings before interest, taxes and amortization. = Operating profit + amortization (2) Comparable EBITA: Comparable earnings before interest, taxes and amortization. = Operating profit + amortization +/– items affecting comparability (3) Earnings per share: Profit attributable to shareholders of the company divided by the average number of outstanding shares during period. = Profit attributable to shareholders of the company / Average number of outstanding shares during period (4) Earnings per share, diluted: Profit attributable to shareholders of the company divided by the average number of diluted shares during period. = Profit attributable to shareholders of the company / Average number of diluted shares during period (5) Equity per share: Equity attributable to shareholders of the company divided by the average number of outstanding shares during period. = Equity attributable to shareholders of the company / Average number of outstanding shares at the end of period (6) Return on equity (ROE): Indicates the ratio of profit for the period to total equity (average for period). = Profit for the period / Total equity (average for period) x 100 (7) Return on capital employed (ROCE) before taxes: Indicates the ratio of profit before taxes, interest and other financial expenses to balance sheet excluding non-interest-bearing liabilities (average for period). = ( Profit before taxes + interest and other financial expenses ) / ( Balance sheet total – non-interest-bearing liabilities (average for period) ) x 100 (8) Comparable return on capital employed (ROCE) before taxes: Indicates the ratio of profit before taxes, interest and other financial expenses and items affecting comparability to balance sheet excluding non-interest-bearing liabilities (average for period). = ( Profit before taxes + interest and other financial expenses +/– items affecting comparability ) / ( Balance sheet total – non-interest-bearing liabilities (average for period) ) x 100 (9) Equity to asset ratio: Indicates the ratio of equity to total assets. = Total equity / (Balance sheet total – amounts due to customers under revenue contracts) x 100 (10) Gearing: Indicates the ratio of net interest-bearing liabilities to total equity. = ( Net interest-bearing liabilities / Total equity ) x 100 (11) Net working capital: Indicates the difference between total current assets (or items parallel to those) and current liabilities (or items parallel to those). = Other non-current assets + inventories + trade and other receivables + cost and earnings of projects under construction in excess of advance billings + derivate financial instruments (assets) – post-employment benefits – provisions – trade and other payables – advances received – billings in excess of cost and earnings of projects under construction – derivative financial instruments (liabilities) (12) Net interest-bearing liabilities: Indicates the sum of interest-bearing liabilities and interest-bearing assets. = Non-current interest-bearing debt + non-current lease liabilities + current interest-bearing debt + current lease liabilities – cash and cash equivalents – other interest-bearing assets (13) Dividend per share: Indicates the ratio of dividend for the financial period to the number of shares at end of period. = Dividend for the financial period / Number of shares at end of period (14) Dividend payout ratio: Indicates the ratio of dividend per share to earnings per share. = ( Dividend per share / Earnings per share ) x 100 (15) Effective dividend yield: Indicates the ratio of dividend per share to the closing share price at end of period. = ( Dividend per share / Closing share price at end of period ) x 100 (16) Price / earnings ratio: Indicates the ratio of closing share price at end of period to earnings per share. = Closing share price at end of period / Earnings per shared Updated; Aug 13, 2021 Pulp Complete pulp mills Chemical pulping Wood handling Cooking and fiber line Pulp drying and baling Chemical recovery Air emission control New value-adding processes Dissolving pulping Mechanical pulping Recycled fiber Automation for pulp Services for pulp Fiber Technology Center Pulp references Pulp news and stories Board and paper Recycled fiber Stock preparation Board and paper machines Services for board and paper Automation for board and paper Industrial Internet Service Centers References Board and paper news and stories Search for products & services Tissue Complete tissue mills solutions Machine sections and rebuilds Development and pilot trials Services for tissue producers Automation for tissue References Industrial Internet Tissue Talks Insight Sustainability Learning services Tissue News Tissue Talks Contact Tissue Local websites 中文 - Chinese Suomi - Finnish Français - French 日本語 - Japanese Português - Portuguese Pусский - Russian Español - Spanish Svenska - Swedish ไทย - Thai Australia & New Zealand North America Deutsch - German Energy Energy solutions BFB Boiler CFB Boiler Gasifier Power plants Heating plants Air emission control Industrial Internet solutions Services for energy Automation for energy Technology development Energy news and stories More industries Alternative fuels Biofuels and biomaterials Chemical industry Fiberboard Filtration Food industry Laundry industry Marine Minerals and metals Nonwovens Oil and gas Wastewater Paper converting Pharmaceutical industry Petrochemical industry Automation Distributed control system Industrial applications Quality management Analyzers and measurements Condition monitoring Industrial Internet Automation projects Automation services About Us Valmet in brief Contact us Strategy Management Code of Conduct Careers Research and development Procurement Valmet's value creation Translate Valmet product names Industrial Internet Valmet Customer Portal Learning Services Service centers References Investors Valmet as an investment Reports and presentations Sustainability for investors Valmet share Shareholders Governance Financial information Events and calendar Investor relations Sustainability Sustainability at Valmet Sustainable supply chain Health, safety and environment People and performance Sustainable solutions Corporate citizenship Climate program Circular economy Sustainability reporting Media News Articles Customer magazine Blogs Podcasts Newsletters Social media Events calendar Media contacts Image gallery Video gallery Downloads Services Services for board and paper production Services for pulp production Services for tissue making Services for energy FOLLOW US Sitemap About this site Legal notice Trademarks Privacy notice Cookie preferences Contact us Social media © 2021 Valmet We use cookies and 3rd party solutions to optimize site functionality and give you the best possible experience while browsing our site. If you are fine with this and accept all cookies just click 'Accept' button. You can also review our Privacy notice. Necessary cookies only Accept Manage cookie preferences