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Neste

18.34 EUR

+0.19 %

26,016 following

NESTE

NASDAQ Helsinki

Non-Renewable

Energy

+0.19 %
+4.56 %
+9.75 %
+92.16 %
+51.26 %
+39.20 %
-61.01 %
-69.12 %
+240.05 %

Neste produces transport fuel and renewable fuels. Today, the largest operations and extraction are held in the Nordic market, where the company is active in the entire value chain, from extraction to delivery to port depots. In addition, the opportunity is given for direct sales where customers can pick up fuel at selected stations. The largest market is in the Nordic region, and the company is headquartered in Espoo, Finland.

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Market cap
14.11B EUR
Turnover
17.21M EUR
P/E (adj.) (25e)
43.52
EV/EBIT (adj.) (25e)
31.37
P/B (25e)
1.9
EV/S (25e)
0.98
Dividend yield-% (25e)
1.09 %
Coverage
Recommendation
Reduce
Target price
18.00 EUR
Updated
29.10.2025
Petri Gostowski
Petri Gostowski

Co. Head of Research

Latest research

Latest analysis report

Released: 30.10.2025

Revenue and EBIT-%

Revenue B

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
5.2
2026

Annual report '25

25.3
2026

General meeting '26

29.4
2026

Interim report Q1'26

Risk
Business risk
Valuation risk
Low
High
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Neste Q2'25: Renewables surprised, overcapacity still looms
Research by
Petri Gostowski

Neste Q2'25: Renewables surprised, overcapacity still looms

The Renewable Products segment's better-than-expected result had Neste's Q2 result exceeding our forecast. Against this backdrop and the upward trend in market development, we made positive estimate revisions for the coming years. In our view, the risks associated with the company's elevated indebtedness have decreased following the estimate revisions. Despite recent developments, we believe that the medium-term market outlook is still subject to considerable uncertainty, reflecting the overcapacity situation.

Neste
Forum discussions
Well, that’s not how it goes. Malinen has, in all likelihood, already earned a millionaire fortune during his career. Currently, Malinen earns a basic salary at Neste of about 50k net per month, so he doesn’t need to start cutting down inherited forests just to acquire, say, a couple...
12/5/2025, 12:27 PM
by Seinäkadun Keisari
53
According to OP’s morning review, Germany is considering removing the double counting of renewable diesel. Double counting = if you produce renewable diesel made from e.g. waste/used cooking oil, 1 physical tonne is counted as 2 tonnes in mandates, meaning it fulfills the blending...
8 hours ago
by Matti
33
So, if such a situation arose, Malinen could, if necessary, even pledge the shares as collateral for a loan; that’s no reason not to buy. Malinen can surely largely decide how long he remains as CEO; I don’t buy this argument either.
12/5/2025, 4:09 PM
by Seinäkadun Keisari
15
Yes, I also ask myself why I didn’t buy more Nordea or Sampo when they were available for 5e/share during the corona dip. Malinen probably had quite a few things on his table to consider during the first 6 months, and at least for me, the first thing on my mind would be how to turn...
5 hours ago
by massimo
9
The starting point is always that the company incentivizes management with stock awards or options. Of course, it’s a plus if management also buys shares themselves, but this rarely happens even in international companies.
12/5/2025, 2:51 PM
by TitoK
8
Of course it can be, but it has no relevance to this discussion. On the other hand, looking at Neste’s share price development, one might question where better returns could have been obtained, though this is hindsight ;). What do Verneri’s (Verneri) trades or lack thereof have to...
12/5/2025, 1:25 PM
8
When Malinen moved from Outokumpu to Neste, he himself said in an interview that retirement was approaching but that he might still be able to complete this one project (Neste). So the move from Outokumpu was quite fast because there wasn’t too much time, and perhaps the investment...
12/5/2025, 11:59 AM
by pete
8
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