HENNES & MAURITZ AB Financials Hennes & Mauritz AB London S.E.
Equities
0HBP
SE0000106270
Apparel & Accessories Retailers
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 167.6 SEK | -1.74% |
|
-12.51% | -5.14% |
| 06-28 | H&M: share price down, analyst reduces target | CF |
| 06-28 | UBS Lowers H&M PT, Affirm Buy Recommendation | MT |
Valuation
| Fiscal Period: November | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 305,924 | 300,561 | 264,812 | 190,119 | 272,519 | 270,007 | - | - |
| Enterprise Value (EV) 1 | 311,310 | 364,086 | 304,032 | 241,047 | 324,091 | 319,431 | 317,046 | 316,359 |
| P/E ratio | 22.8 x | 242 x | 24.1 x | 54 x | 31.4 x | 19.2 x | 16.5 x | 15.3 x |
| Yield | - | - | 4.06% | 5.57% | 3.87% | 4.25% | 4.67% | 5.06% |
| Capitalization / Revenue | 1.31 x | 1.61 x | 1.33 x | 0.85 x | 1.15 x | 1.13 x | 1.09 x | 1.06 x |
| EV / Revenue | 1.34 x | 1.95 x | 1.53 x | 1.08 x | 1.37 x | 1.34 x | 1.28 x | 1.24 x |
| EV / EBITDA | 11 x | 12.5 x | 8.09 x | 8.1 x | 8.64 x | 7.38 x | 6.94 x | 6.67 x |
| EV / FCF | 16.7 x | 16.3 x | 7.39 x | 13.1 x | 13 x | 19.7 x | 14.9 x | 15.3 x |
| FCF Yield | 5.99% | 6.12% | 13.5% | 7.66% | 7.71% | 5.08% | 6.73% | 6.56% |
| Price to Book | 5.36 x | 5.5 x | 4.41 x | 3.75 x | 5.72 x | 5.52 x | 4.99 x | 4.64 x |
| Nbr of stocks (in thousands) | 1,655,072 | 1,655,072 | 1,655,072 | 1,629,687 | 1,623,103 | 1,610,542 | - | - |
| Reference price 2 | 184.8 | 181.6 | 160.0 | 116.7 | 167.9 | 167.6 | 167.6 | 167.6 |
| Announcement Date | 20-01-30 | 21-01-29 | 22-01-28 | 23-01-27 | 24-01-31 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: November | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 232,764 | 187,031 | 198,967 | 223,571 | 236,035 | 238,322 | 247,360 | 255,842 |
| EBITDA 1 | 28,397 | 29,052 | 37,575 | 29,748 | 37,492 | 43,270 | 45,677 | 47,399 |
| EBIT 1 | 17,346 | 3,099 | 15,255 | 7,169 | 14,537 | 20,646 | 22,934 | 24,402 |
| Operating Margin | 7.45% | 1.66% | 7.67% | 3.21% | 6.16% | 8.66% | 9.27% | 9.54% |
| Earnings before Tax (EBT) 1 | 17,391 | 2,052 | 14,300 | 6,216 | 13,010 | 18,784 | 21,645 | 23,395 |
| Net income 1 | 13,443 | 1,243 | 11,010 | 3,566 | 8,752 | 14,279 | 16,399 | 17,817 |
| Net margin | 5.78% | 0.66% | 5.53% | 1.6% | 3.71% | 5.99% | 6.63% | 6.96% |
| EPS 2 | 8.120 | 0.7500 | 6.650 | 2.160 | 5.350 | 8.738 | 10.14 | 10.93 |
| Free Cash Flow 1 | 18,646 | 22,294 | 41,155 | 18,465 | 24,985 | 16,233 | 21,334 | 20,739 |
| FCF margin | 8.01% | 11.92% | 20.68% | 8.26% | 10.59% | 6.81% | 8.62% | 8.11% |
| FCF Conversion (EBITDA) | 65.66% | 76.74% | 109.53% | 62.07% | 66.64% | 37.52% | 46.71% | 43.75% |
| FCF Conversion (Net income) | 138.7% | 1,793.56% | 373.8% | 517.81% | 285.48% | 113.68% | 130.1% | 116.4% |
| Dividend per Share 2 | - | - | 6.500 | 6.500 | 6.500 | 7.127 | 7.827 | 8.488 |
| Announcement Date | 20-01-30 | 21-01-29 | 22-01-28 | 23-01-27 | 24-01-31 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: November | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 124,275 | 83,612 | 103,419 | 86,569 | 49,166 | 54,504 | 103,670 | 57,450 | 62,451 | 54,872 | 57,616 | 112,488 | 60,897 | 62,650 | 123,547 | 53,669 | 59,605 | 113,274 | 61,456 | 64,543 | 55,866 | 61,372 | 63,213 |
| EBITDA 1 | - | - | - | - | 5,851 | 10,197 | 16,048 | 7,088 | 6,612 | 6,230 | 10,234 | - | 10,466 | 10,562 | - | 7,482 | 12,525 | 20,007 | 11,145 | 11,394 | 8,499 | 13,236 | 11,774 |
| EBIT 1 | 10,406 | -3,498 | 6,597 | 2,724 | 458 | 4,988 | 5,446 | 902 | 821 | 725 | 4,741 | 5,466 | 4,739 | 4,332 | - | 2,077 | 7,098 | 9,175 | 5,599 | 5,724 | 3,048 | 7,731 | 6,108 |
| Operating Margin | 8.37% | -4.18% | 6.38% | 3.15% | 0.93% | 9.15% | 5.25% | 1.57% | 1.31% | 1.32% | 8.23% | 4.86% | 7.78% | 6.91% | - | 3.87% | 11.91% | 8.1% | 9.11% | 8.87% | 5.45% | 12.6% | 9.66% |
| Earnings before Tax (EBT) 1 | 10,414 | -3,978 | 6,030 | 2,204 | 282 | 4,688 | 4,913 | 689 | 463 | 396 | 4,325 | 4,721 | 4,373 | 3,916 | - | 1,606 | 6,668 | 8,274 | 5,168 | 5,335 | 2,652 | 7,335 | 5,710 |
| Net income 1 | - | -3,063 | - | 1,697 | 217 | 3,682 | 3,899 | 531 | -864 | 541 | 3,296 | 3,837 | 3,328 | 1,587 | 4,915 | 1,209 | 4,995 | 6,196 | 3,888 | 3,980 | 1,998 | 5,520 | 4,298 |
| Net margin | - | -3.66% | - | 1.96% | 0.44% | 6.76% | 3.76% | 0.92% | -1.38% | 0.99% | 5.72% | 3.41% | 5.46% | 2.53% | 3.98% | 2.25% | 8.38% | 5.47% | 6.33% | 6.17% | 3.58% | 9% | 6.8% |
| EPS 2 | - | -1.850 | - | 1.030 | 0.1300 | 2.220 | 2.360 | 0.3200 | -0.5300 | 0.3300 | 2.020 | 2.350 | 2.040 | 0.9700 | 3.000 | 0.7500 | 3.110 | 3.850 | 2.437 | 2.316 | 1.180 | 3.520 | 2.750 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | 6.500 | - | - | - | - | 3.250 | - | - | - | - | - | 3.417 | - | 3.625 | - |
| Announcement Date | 20-01-30 | 20-06-26 | 21-01-29 | 21-07-01 | 22-03-31 | 22-06-29 | 22-06-29 | 22-09-29 | 23-01-27 | 23-03-30 | 23-06-29 | 23-06-29 | 23-09-27 | 24-01-31 | 24-01-31 | 24-03-27 | 24-06-27 | 24-06-27 | - | - | - | - | - |
1SEK in Million2SEK
Estimates
Balance Sheet Analysis
| Fiscal Period: November | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 5,386 | 63,525 | 39,220 | 50,928 | 51,572 | 49,424 | 47,038 | 46,352 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.1897 x | 2.187 x | 1.044 x | 1.712 x | 1.376 x | 1.142 x | 1.03 x | 0.9779 x |
| Free Cash Flow 1 | 18,646 | 22,294 | 41,155 | 18,465 | 24,985 | 16,233 | 21,334 | 20,739 |
| ROE (net income / shareholders' equity) | 23.3% | 2.2% | 19.2% | 6.4% | 17.7% | 29% | 31.8% | 31.7% |
| ROA (Net income/ Total Assets) | 11.2% | 0.84% | 6.22% | 3.11% | 4.82% | 7.41% | 9.32% | 9.8% |
| Assets 1 | 119,638 | 147,432 | 177,076 | 114,508 | 181,660 | 192,808 | 175,937 | 181,860 |
| Book Value Per Share 2 | 34.50 | 33.00 | 36.30 | 31.20 | 29.30 | 30.40 | 33.60 | 36.10 |
| Cash Flow per Share 2 | 17.50 | 15.60 | 27.00 | 14.90 | 20.80 | 14.60 | 17.60 | 18.50 |
| Capex 1 | 10,340 | 3,606 | 3,464 | 6,011 | 8,964 | 11,390 | 11,007 | 11,126 |
| Capex / Sales | 4.44% | 1.93% | 1.74% | 2.69% | 3.8% | 4.78% | 4.45% | 4.35% |
| Announcement Date | 20-01-30 | 21-01-29 | 22-01-28 | 23-01-27 | 24-01-31 | - | - | - |
1SEK in Million2SEK
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
HOLD
Number of Analysts
26
Last Close Price
167.6
SEK
Average target price
175.6
SEK
Spread / Average Target
+4.77%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +17.58% | 155B | |
| +15.92% | 77.29B | |
| +5.03% | 48.73B | |
| -15.16% | 44.85B | |
| +23.41% | 15.04B | |
| +11.31% | 13.85B | |
| +16.25% | 9.56B | |
| +14.25% | 9.01B | |
| +101.59% | 8.82B |
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