4 Value Stocks from the Helsinki Stock Exchange
The start of 2026 has brought volatility to the markets, but savvy investors know that such moments offer opportunities to find quality companies at a reasonable price. The core of value investing is not simply buying the cheapest stock, but finding companies with stable profitability and a historically low valuation (P/E ratio). The following analysis highlights four Finnish companies that have managed to grow their profitability in a challenging economic environment and are trading at attractive levels.
Sampo's stock is currently trading at a P/E ratio of 16.0, an attractive level for a stable dividend payer. The company's operating profit made a massive leap in the third quarter, growing by 100.5% year-over-year. While this figure is impressive, investors need to look behind the numbers to understand the true nature of the growth.
The main driver of this growth was a one-off extraordinary income from the IPO of NOBA Bank, not just explosive growth in its core business. Nevertheless, Sampo's insurance operations are strong, and the interest rate environment supports investment income. The ongoing share buyback program offers reassurance to investors, but it is crucial to monitor how profitability develops after the effect of the one-off income fades.
Industrial equipment manufacturer Konecranes stands out with a P/E multiple of 16.8. Despite the challenging economic situation, the company managed to increase its operating profit by 11.2%, a strong sign of management's ability to run the business effectively. This improvement in profitability was achieved while many industrial companies are struggling with declining margins.
The key to the company's success lies in strict cost control—material and subcontracting costs decreased significantly. However, investors must be cautious, as sales revenue fell by 7.6% during the same period. This is a classic red flag: profit growth derived solely from cost-cutting is not sustainable indefinitely. The success of the investment depends on whether Konecranes can return its sales volumes to growth.
Kalmar, a provider of heavy machinery and port solutions, offers investors a P/E ratio of 15.9, making it one of the more affordable choices in its sector. The company's operating profit grew by 12.6% year-over-year, indicating that demand for its products and services remains strong despite the economic slowdown.
Kalmar's strength lies in the growth of its services business, which helps offset the cyclical weakness in equipment sales. This makes the company more resilient to economic cycles and reduces risks. Although profit growth has slowed slightly compared to previous quarters, the low valuation and stable service revenue stream suggest good value for the long-term investor.
Valmet is trading at a P/E level of 18.5, which is reasonable considering its historical average and the quality of the company. The company has managed to return to profitability growth, showing a 14.7% increase in operating profit, despite sales revenue remaining flat compared to the previous year.
The improved results came mainly from successful cuts in administrative expenses. This demonstrates management's discipline, but similar to Konecranes, the lack of sales growth is a risk factor. However, recent news of large orders offers hope that Valmet can also grow its revenue in the future, which would make the current valuation even more attractive.
Conclusion
In summary, what unites these four companies is their ability to maintain or grow profitability even in a more challenging economic environment. Sampo offers stability in the financial sector, while the industrial companies Konecranes, Kalmar, and Valmet demonstrate how increasing efficiency supports profits. However, investors should be wary of 'value traps'—if profit growth comes only from cost-cutting while sales revenue declines, the company's performance must be monitored especially closely.
RYTM content is for informational purposes only, not financial advice or recommendations. You are solely responsible for your investment decisions. Always consult a professional.