The Morningstar Finland Index fell 1.66% in the third quarter amid a struggle in the real estate sector. The index tracks the performance of the top 97% of the Finnish investable universe by market cap, and each quarter, we screen it for the best- and worst-performing companies. Data in this article is sourced from Morningstar Direct.
The Best-Performing Stocks of Q3 2026
The Worst-Performing Stocks of Q3 2026
Metrics for the Best-Performing Stocks
Valmet VALMT
- Sector: Industrials
- Industry: Specialty Industrial Machinery
- Economic Moat: Not Rated
Valmet soared 36.41% in the third quarter, leaving the stock up 4.70% for the past year. The company’s stock has a quantitative Morningstar Rating of 5 stars.
Nokian Tyres TYRES
- Sector: Consumer Cyclical
- Industry: Auto Parts
- Economic Moat: Not Rated
Nokian Tyres climbed 32.83% in the third quarter, leaving shares up 112.15% for the past year. Nokian Tyres has a quantitative Morningstar Rating of 4 stars.
Fortum FORTUM
- Sector: Utilities
- Industry: Utilities - Renewable
- Economic Moat: Not Rated
Fortum climbed 16.86% in the third quarter, leaving the stock up 52.29% for the past year. The company’s stock has a quantitative Morningstar Rating of 3 stars.
Aktia Bank AKTIA
- Sector: Financial Services
- Industry: Banks - Regional
- Economic Moat: Not Rated
Aktia Bank jumped 16.84% in the third quarter, leaving the stock up 40.77% for the past year. The company’s stock has a quantitative Morningstar Rating of 3 stars.
Sanoma SANOMA
- Sector: Consumer Defensive
- Industry: Education & Training Services
- Economic Moat: Not Rated
Sanoma leapt 16.34% in the third quarter, but over the past year, shares were down 5.22%. Sanoma has a quantitative Morningstar Rating of 5 stars.
Metrics for the Worst-Performing Stocks
Kempower KEMPOWR
- Sector: Industrials
- Industry: Electrical Equipment & Parts
- Economic Moat: Not Rated
Kempower tumbled 24.43% in the third quarter, leaving shares down 34.74% for the past year. Shares were 46.51% below the last high on Jan. 28, 2026. Kempower has a quantitative Morningstar Rating of 3 stars.
Nokia NOKIA
- Sector: Technology
- Industry: Communication Equipment
- Economic Moat: None
Nokia dropped 21.54% in the third quarter, but shares were still up 125.64% for the past year. Shares were 39.85% lower than their last high on June 3, 2026. The company’s stock has a Morningstar Rating of 2 stars and trades at a 24% premium to the fair value estimate of €7.30.
Wärtsilä WRT1V
- Sector: Industrials
- Industry: Specialty Industrial Machinery
- Economic Moat: Wide
Wärtsilä tumbled 14.93% in the third quarter, but shares were still up 14.34% over the past year. Shares were 30.99% below the last high on April 23, 2026. Wärtsilä has a Morningstar Rating of 3 stars, with its stock trading near the €27.00 fair value estimate.
Sampo SAMPO
- Sector: Financial Services
- Industry: Insurance - Diversified
- Economic Moat: Narrow
Sampo fell 5.03% in the third quarter, leaving the stock down 7.16% for the past year. Shares were 15.96% lower than their last high on Jan. 2, 2026. The company’s stock has a Morningstar Rating of 4 stars and trades at a 21% discount to the fair value estimate of €11.00.
Lumo Kodit LUMO
- Sector: Real Estate
- Industry: Real Estate Services
- Economic Moat: Not Rated
Lumo Kodit decreased 4.31% in the third quarter, leaving shares down 33.74% for the past year. Shares were 35.28% below the last high on Oct. 30, 2025. Lumo Kodit has a quantitative Morningstar Rating of 3 stars.
Companies not formally covered by a Morningstar analyst are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative star rating.
