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Stock Comparison · Valuation-led comparison

Mercedes-Benz Group vs UPM-Kymmene Oyj: Which Stock Looks Stronger in 2026?

The structural profiles are close, with Mercedes-Benz carrying a narrow edge on valuation. UPM-Kymmene Oyj still has the edge on growth, which keeps the comparison from looking entirely one-sided. The market setup is currently leaning toward UPM-Kymmene Oyj, which does not confirm the structural lead. That leaves a split case: the structural lead stays with Mercedes-Benz, but the market is not currently confirming it.

The comparison is based on similar long-term financial trajectories, not sector labels. Both peer scores are relative to the STOXX 600 universe, making them directly comparable.

Updated 2026-05-17

The lead runs through valuation, while growth still acts as a real counterweight on the other side.

Trajectory Similarity
0.73
Similar
Peer-set rank: #12
within Mercedes-Benz Group AG's functional peer set

This pair is matched through long-term financial trajectory similarity within the selected peer universe.

The pair sits on a clearly comparable long-term path, though it is not a near-twin match.

The strongest overlap appears in capital structure and revenue stability.

Similarity drivers
capital structurerevenue stability
How to read the score
0.85–1.00 · Very similar0.70–0.84 · Similar0.55–0.69 · Moderately similarbelow 0.55 · Loose match
Peer-Relative Score
MBG.DE
Mercedes-Benz Group AG
66
Peer-Score
Signal qualitylow
Peer basis: STOXX 600
vs
UPM.HE
UPM-Kymmene Oyj
64
Peer-Score
Signal qualityMedium
Peer basis: STOXX 600

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

Pricing shapes this comparison more than a broad operating gap.

Dimension spread: MBG.DE vs UPM.HE Profitability 60 67 Stability 72 68 Valuation 80 53 Growth 47 71 MBG.DE UPM.HE
Gap Ranking
#1 Valuation +27
#2 Growth +24
#3 Profitability +7
#4 Stability +4
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for MBG.DE and UPM.HE Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer MBG.DEUPM.HE Relative valuation Structural strength

UPM-Kymmene Oyj occupies the cheaper side of the setup map, although Mercedes-Benz Group AG still holds the stronger structural profile.

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Entry today — historical context

Where MBG.DE and UPM.HE each sit in their own 5-year price and valuation history.

BASED ON 5-YEAR HISTORY MBG.DE Neutral · above norm 0th 50th 100th 25 pct gap UPM.HE Neutral · near norm 0th 50th 100th 60th 36th
Today UPM.HE sits in the lower-middle of its own 5-year history (36th percentile), while MBG.DE sits higher in its own history (60th). Within each stock's own 5-year context, UPM.HE is at a historically more favourable entry position than MBG.DE. This reflects entry timing, not which company is structurally stronger — peer-relative analysis is a separate question addressed above.

Describes historical entry positioning only. Descriptive — not investment advice.

Relative Position vs Comparable Companies
Valuation
Both rank well on valuation, but Mercedes-Benz Group AG still holds a clear edge.
Growth
On growth, the same pattern holds: both are strong, but UPM-Kymmene Oyj still leads clearly.
Valuation — Dominant Gap
MBG.DE
80
UPM.HE
53
Gap+27in favour of MBG.DE

The multiple-based pricing edge comes from a forward P/E that is 6 turns lower.

What keeps the gap from being one-sided

Earnings growth also leans toward UPM.HE, which keeps the score lead from reading as a full growth sweep.

What this means for the comparison

The main read on valuation is clearer than the broader score gap.

Explore full peer positioning in AssetNext

Break down the MBG.DE vs UPM.HE comparison across all dimensions with the full interactive tool.

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Explore how MBG.DE and UPM.HE each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.