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HMS Bergbau AG
(XETRA:HMU)
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Rating:58Neutral
Price Target:
€35.00
▼(-14.63% Downside)
Action:Reiterated
Date:10/03/26
The score is held back primarily by weaker financial quality (notably negative 2025 operating/free cash flow alongside higher leverage) and bearish technicals (price below all key moving averages with negative momentum). These risks are partially offset by very low valuation (low P/E and a moderate dividend yield).
Positive Factors
Multi-year revenue expansion
Strong revenue expansion from 2020 through 2024 indicates the trading platform captured more business over several years, providing evidence of commercial scale. Although revenue slipped in 2025, the earlier multi-year trajectory remains a meaningful foundation for future performance.
Negative Factors
Higher financial leverage
Debt now exceeds equity after a meaningful 2025 increase in borrowings, reducing financial flexibility and making the company more sensitive to earnings normalization. Higher leverage can constrain future capital allocation and intensify the impact of weaker margins or increased working-capital needs.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue expansion
Strong revenue expansion from 2020 through 2024 indicates the trading platform captured more business over several years, providing evidence of commercial scale. Although revenue slipped in 2025, the earlier multi-year trajectory remains a meaningful foundation for future performance.
Read all positive factors
HMS Bergbau AG (HMU) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€173.99M
Dividend Yield3.25%
Average Volume (3M)341.00
Price to Earnings (P/E)2.3
Beta (1Y)0.27
Revenue Growth33.00%
EPS Growth383.79%
CountryDE
Employees56
SectorEnergy
Sector Strength52
IndustryCoal
Share Statistics
EPS (TTM)14.43
Shares Outstanding4,590,588
10 Day Avg. Volume554
30 Day Avg. Volume341
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)2.51
Price to Sales (P/S)0.17
P/FCF Ratio-4.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€66.00Price Target Upside60.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)6.37
Revenue Forecast (FY)€2.11B
HMS Bergbau AG Business Overview & Revenue Model
Company Description
HMS Bergbau AG, together with its subsidiaries, engages in trading and distributing coal and other energy raw materials to energy producers, cement manufacturers, and industrial consumers worldwide. The company provides energy resources, including...
How the Company Makes Money
HMS Bergbau AG’s earnings are primarily derived from commodity trading/marketing margins: the company sources coal from producers, arranges delivery to customers, and generates revenue from the spread between its purchase cost (including procureme...
HMS Bergbau AG Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
57
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.70B | 1.22B | 1.36B | 1.30B | 971.91M | 427.74M |
| Gross Profit | 42.21M | 36.01M | 38.58M | 35.30M | 20.75M | 11.02M |
| EBITDA | 29.63M | 63.31M | 21.19M | 16.38M | 15.60M | 5.39M |
| Net Income | 65.20M | 54.79M | 13.31M | 12.37M | 10.52M | 3.25M |
Balance Sheet | ||||||
| Total Assets | 507.18M | 357.78M | 220.05M | 281.60M | 130.47M | 98.83M |
| Cash, Cash Equivalents and Short-Term Investments | 49.94M | 37.26M | 39.64M | 35.99M | 31.05M | 25.98M |
| Total Debt | 103.95M | 92.72M | 26.39M | 16.54M | 16.27M | 11.58M |
| Total Liabilities | 352.25M | 225.14M | 169.00M | 240.88M | 98.32M | 77.71M |
| Stockholders Equity | 103.54M | 85.04M | 48.51M | 38.11M | 29.61M | 18.45M |
Cash Flow | ||||||
| Free Cash Flow | -16.83M | -49.81M | 7.89M | 9.36M | -1.80M | 14.45M |
| Operating Cash Flow | 24.03M | -32.48M | 8.54M | 9.98M | -1.14M | 15.09M |
| Investing Cash Flow | -37.55M | -14.46M | -405.00K | -1.32M | 2.25M | -882.00K |
| Financing Cash Flow | 3.84M | 49.01M | -4.48M | -3.96M | -445.00K | 7.77M |
HMS Bergbau AG Technical Analysis
Negative
41.00
Price Trends
39.92
Negative
40.49
Negative
42.00
Negative
Market Momentum
-0.92
Positive
16.05
Positive
15.26
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:HMU, the sentiment is Negative. The current price of 41 is above the 20-day moving average (MA) of 39.51, above the 50-day MA of 39.92, and below the 200-day MA of 42.00, indicating a bearish trend. The MACD of -0.92 indicates Positive momentum. The RSI at 16.05 is Positive, neither overbought nor oversold. The STOCH value of 15.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:HMU.
HMS Bergbau AG Peers Comparison
UnderperformOutperform
Sector (65)
DE:HMU
HMS Bergbau AG
33.80
-12.91
-27.63%
DE:DR0
Deutsche Rohstoff AG
82.90
37.73
83.52%
DE:4DS
Daldrup & Soehne AG
23.50
8.47
56.37%
DE:REL
Ichor Coal NV
0.02
<0.01
5.00%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.