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 | ||
| 170.5 SEK | -12.30% |
|
-10.95% | -3.45% |
| 08:52pm | HENNES & MAURITZ : A more volatile year ahead |  |
| 06:43pm | Market Update-Europe, apart from Frankfurt, ends in the red with political risk in France | RE |
Valuation
| Fiscal Period: November | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 305,924 | 300,561 | 264,812 | 190,119 | 272,519 | 272,826 | - | - |
| Enterprise Value (EV) 1 | 311,310 | 364,086 | 304,032 | 241,047 | 324,091 | 317,736 | 322,750 | 324,382 |
| P/E ratio | 22.8 x | 242 x | 24.1 x | 54 x | 31.4 x | 21.4 x | 18.9 x | 17.4 x |
| Yield | - | - | 4.06% | 5.57% | 3.87% | 3.57% | 4.02% | 4.36% |
| Capitalization / Revenue | 1.31 x | 1.61 x | 1.33 x | 0.85 x | 1.15 x | 1.14 x | 1.1 x | 1.07 x |
| EV / Revenue | 1.34 x | 1.95 x | 1.53 x | 1.08 x | 1.37 x | 1.33 x | 1.3 x | 1.27 x |
| EV / EBITDA | 11 x | 12.5 x | 8.09 x | 8.1 x | 8.64 x | 7.27 x | 7.04 x | 6.82 x |
| EV / FCF | 16.7 x | 16.3 x | 7.39 x | 13.1 x | 13 x | 25.9 x | 13.5 x | 13.9 x |
| FCF Yield | 5.99% | 6.12% | 13.5% | 7.66% | 7.71% | 3.86% | 7.42% | 7.19% |
| Price to Book | 5.36 x | 5.5 x | 4.41 x | 3.75 x | 5.72 x | 6.18 x | 5.68 x | 5.24 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 | 194.6 | 194.6 | 194.6 |
| Announcement Date | 1/30/20 | 1/29/21 | 1/28/22 | 1/27/23 | 1/31/24 | - | - | - |
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 | 238,850 | 247,521 | 255,847 |
| EBITDA 1 | 28,397 | 29,052 | 37,575 | 29,748 | 37,492 | 43,687 | 45,814 | 47,543 |
| EBIT 1 | 17,346 | 3,099 | 15,255 | 7,169 | 14,537 | 21,009 | 23,080 | 24,531 |
| Operating Margin | 7.45% | 1.66% | 7.67% | 3.21% | 6.16% | 8.8% | 9.32% | 9.59% |
| Earnings before Tax (EBT) 1 | 17,391 | 2,052 | 14,300 | 6,216 | 13,010 | 19,352 | 21,868 | 23,617 |
| Net income 1 | 13,443 | 1,243 | 11,010 | 3,566 | 8,752 | 15,204 | 16,710 | 18,192 |
| Net margin | 5.78% | 0.66% | 5.53% | 1.6% | 3.71% | 6.37% | 6.75% | 7.11% |
| EPS 2 | 8.120 | 0.7500 | 6.650 | 2.160 | 5.350 | 9.108 | 10.30 | 11.16 |
| Free Cash Flow 1 | 18,646 | 22,294 | 41,155 | 18,465 | 24,985 | 12,252 | 23,963 | 23,335 |
| FCF margin | 8.01% | 11.92% | 20.68% | 8.26% | 10.59% | 5.13% | 9.68% | 9.12% |
| FCF Conversion (EBITDA) | 65.66% | 76.74% | 109.53% | 62.07% | 66.64% | 28.04% | 52.3% | 49.08% |
| FCF Conversion (Net income) | 138.7% | 1,793.56% | 373.8% | 517.81% | 285.48% | 80.58% | 143.41% | 128.27% |
| Dividend per Share 2 | - | - | 6.500 | 6.500 | 6.500 | 6.943 | 7.817 | 8.488 |
| Announcement Date | 1/30/20 | 1/29/21 | 1/28/22 | 1/27/23 | 1/31/24 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: November | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q4 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 124,275 | 83,612 | 103,419 | 86,569 | 56,813 | 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 | 61,527 | 64,327 | 56,350 | 62,084 |
| EBITDA 1 | - | - | - | - | 11,798 | 5,851 | 10,197 | 16,048 | 7,088 | 6,612 | 6,230 | 10,234 | - | 10,466 | 10,562 | - | 7,482 | 12,525 | 20,007 | 10,963 | 12,048 | 8,752 | 13,530 |
| EBIT 1 | 10,406 | -3,498 | 6,597 | 2,724 | 6,259 | 458 | 4,988 | 5,446 | 902 | 821 | 725 | 4,741 | 5,466 | 4,739 | 4,332 | - | 2,077 | 7,098 | 9,175 | 5,641 | 5,752 | 3,300 | 8,043 |
| Operating Margin | 8.37% | -4.18% | 6.38% | 3.15% | 11.02% | 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% | 9.17% | 8.94% | 5.86% | 12.95% |
| Earnings before Tax (EBT) 1 | 10,414 | -3,978 | 6,030 | 2,204 | 6,003 | 282 | 4,688 | 4,913 | 689 | 463 | 396 | 4,325 | 4,721 | 4,373 | 3,916 | - | 1,606 | 6,668 | 8,274 | 5,108 | 6,213 | 2,908 | 7,650 |
| Net income 1 | - | -3,063 | - | 1,697 | 4,621 | 217 | 3,682 | 3,899 | 531 | -864 | 541 | 3,296 | 3,837 | 3,328 | 1,587 | 4,915 | 1,209 | 4,995 | 6,196 | 3,831 | 4,660 | 2,191 | 5,758 |
| Net margin | - | -3.66% | - | 1.96% | 8.13% | 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% | 6.23% | 7.24% | 3.89% | 9.28% |
| EPS 2 | - | -1.850 | - | 1.030 | 2.790 | 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 | 2.658 | 2.407 | 1.260 | 3.610 |
| Dividend per Share 2 | - | - | - | - | 6.500 | - | - | - | - | 6.500 | - | - | - | - | 3.250 | - | - | 3.417 | - | - | 3.417 | - | 3.625 |
| Announcement Date | 1/30/20 | 6/26/20 | 1/29/21 | 7/1/21 | 1/28/22 | 3/31/22 | 6/29/22 | 6/29/22 | 9/29/22 | 1/27/23 | 3/30/23 | 6/29/23 | 6/29/23 | 9/27/23 | 1/31/24 | 1/31/24 | 3/27/24 | 6/27/24 | 6/27/24 | - | - | - | - |
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 | 44,911 | 49,924 | 51,556 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.1897 x | 2.187 x | 1.044 x | 1.712 x | 1.376 x | 1.028 x | 1.09 x | 1.084 x |
| Free Cash Flow 1 | 18,646 | 22,294 | 41,155 | 18,465 | 24,985 | 12,252 | 23,963 | 23,335 |
| ROE (net income / shareholders' equity) | 23.3% | 2.2% | 19.2% | 6.4% | 17.7% | 30.1% | 31.6% | 31.2% |
| ROA (Net income/ Total Assets) | 11.2% | 0.84% | 6.22% | 3.11% | 4.82% | 8.92% | 9.63% | 10% |
| Assets 1 | 119,638 | 147,432 | 177,076 | 114,508 | 181,660 | 170,408 | 173,559 | 181,804 |
| Book Value Per Share 2 | 34.50 | 33.00 | 36.30 | 31.20 | 29.30 | 31.50 | 34.20 | 37.20 |
| Cash Flow per Share 2 | 17.50 | 15.60 | 27.00 | 14.90 | 20.80 | 16.00 | 17.80 | 18.70 |
| Capex 1 | 10,340 | 3,606 | 3,464 | 6,011 | 8,964 | 11,323 | 11,015 | 11,126 |
| Capex / Sales | 4.44% | 1.93% | 1.74% | 2.69% | 3.8% | 4.74% | 4.45% | 4.35% |
| Announcement Date | 1/30/20 | 1/29/21 | 1/28/22 | 1/27/23 | 1/31/24 | - | - | - |
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
25
Last Close Price
194.6
SEK
Average target price
176.8
SEK
Spread / Average Target
-9.19%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +17.88% | 155B | |
| +15.72% | 78.83B | |
| +5.56% | 49.62B | |
| +22.54% | 15.11B | |
| +12.49% | 13.84B | |
| +13.04% | 9.58B | |
| +14.92% | 9.17B | |
| +95.57% | 8.86B | |
| +5.87% | 7.83B |
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