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BHG Group AB
(BHG)
Select Model
Select Model
Rating:57Neutral
Price Target:
kr26.00
▲(33.47% Upside)
Action:Reiterated
Date:10/24/26
The score is driven primarily by improving financial performance and strong current cash generation, but capped by thin/volatile margins. Technically, the trend is positive but overbought conditions increase near-term risk. A high P/E with no dividend data further limits the overall score.
Positive Factors
Revenue Recovery
The return to revenue growth after several years of contraction indicates improving demand and renewed commercial momentum. If sustained, stronger sales can improve operating leverage, support supplier negotiations, and provide a broader base for rebuilding earnings over the next several quarters.
Negative Factors
Thin, Volatile Margins
Thin margins leave limited room to absorb weaker pricing, unfavorable product mix, or elevated costs, making earnings sensitive to modest operational changes. The unusually low TTM gross margin also raises questions about how durable the recent return to positive profit will be.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
The return to revenue growth after several years of contraction indicates improving demand and renewed commercial momentum. If sustained, stronger sales can improve operating leverage, support supplier negotiations, and provide a broader base for rebuilding earnings over the next several quarters.
Read all positive factors
BHG Group AB (BHG) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr4.39B
Dividend YieldN/A
Average Volume (3M)523.21K
Price to Earnings (P/E)29.1
Beta (1Y)0.79
Revenue Growth7.48%
EPS GrowthN/A
CountrySE
Employees1,555
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Retail
Share Statistics
EPS (TTM)0.84
Shares Outstanding179,233,570
10 Day Avg. Volume822,502
30 Day Avg. Volume523,211
Financial Highlights & Ratios
PEG Ratio-0.33
Price to Book (P/B)0.98
Price to Sales (P/S)0.54
P/FCF Ratio14.15
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.17
Revenue Forecast (FY)kr11.34B
BHG Group AB Business Overview & Revenue Model
Company Description
BHG Group AB (publ) is a prominent e-commerce company catering to consumers, with extensive operations spanning Sweden, Finland, Denmark, Norway, and extending into other European and international markets. The enterprise's business model is struc...
How the Company Makes Money
BHG primarily makes money by selling home-improvement and DIY-related products online and recognizing revenue from product sales when orders are fulfilled to customers. Its core revenue stream is merchandise sales across its e-commerce stores/bran...
BHG Group AB Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
64
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.21B | 10.58B | 9.96B | 11.79B | 13.43B | 12.66B |
| Gross Profit | 437.70M | 2.64B | 2.43B | 1.87B | 2.98B | 3.36B |
| EBITDA | 796.30M | 814.40M | 452.00M | -664.60M | 635.10M | 1.06B |
| Net Income | 152.00M | 145.30M | -678.80M | -1.56B | 45.80M | 480.90M |
Balance Sheet | ||||||
| Total Assets | 10.81B | 10.53B | 10.89B | 11.42B | 14.28B | 13.61B |
| Cash, Cash Equivalents and Short-Term Investments | 454.00M | 300.50M | 451.30M | 370.30M | 477.60M | 273.50M |
| Total Debt | 2.35B | 2.10B | 2.84B | 2.56B | 4.14B | 5.52B |
| Total Liabilities | 4.63B | 4.45B | 4.91B | 4.90B | 6.61B | 8.36B |
| Stockholders Equity | 5.95B | 5.87B | 5.79B | 6.34B | 7.61B | 5.21B |
Cash Flow | ||||||
| Free Cash Flow | 563.70M | 405.20M | 522.20M | 1.51B | -304.30M | -220.90M |
| Operating Cash Flow | 665.10M | 546.20M | 657.20M | 1.55B | -105.60M | -27.60M |
| Investing Cash Flow | -182.70M | -198.70M | -77.60M | -654.00M | -454.90M | -1.86B |
| Financing Cash Flow | -171.30M | -489.30M | -477.40M | -970.90M | 765.10M | 1.85B |
BHG Group AB Technical Analysis
Positive
19.48
Price Trends
20.18
Positive
20.52
Positive
22.95
Positive
Market Momentum
1.30
Negative
76.72
Negative
83.23
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BHG, the sentiment is Positive. The current price of 19.48 is below the 20-day moving average (MA) of 20.99, below the 50-day MA of 20.18, and below the 200-day MA of 22.95, indicating a bullish trend. The MACD of 1.30 indicates Negative momentum. The RSI at 76.72 is Negative, neither overbought nor oversold. The STOCH value of 83.23 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:BHG.
BHG Group AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr1.20B | 13.74 | ― | 5.15% | 4.48% | 34.85% | |
58 Neutral | kr9.59B | 39.05 | ― | 0.65% | 9.35% | -91.93% | |
58 Neutral | kr529.21M | -6.63 | ― | ― | 7.12% | 8.47% | |
57 Neutral | kr4.39B | 29.14 | ― | ― | 7.48% | ― | |
56 Neutral | kr124.70M | -43.79 | -2.54% | ― | -8.90% | 67.39% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | kr1.86B | -53.59 | -2.25% | ― | -2.34% | 93.68% |
* General Sector Average
SE:BHG
BHG Group AB
24.48
-4.34
-15.06%
SE:DSNO
Desenio Group AB
0.13
0.05
62.82%
SE:KJELL
Kjell Group AB
19.50
11.38
140.12%
SE:APOTEA
Apotea AB
92.15
9.90
12.03%
SE:BOKUS
Bokusgruppen AB
73.80
-7.94
-9.72%
SE:CDON
CDON AB
47.00
-7.00
-12.96%
BHG Group AB Corporate Events
BHG Group Extends Profitability Streak and Accelerates AI-Driven Growth
Oct 23, 2026
BHG Group AB reported strong third-quarter results for 2026, extending a three-year streak of year-on-year profitability improvements as net sales rose 11.7% to SEK 2.9 billion and adjusted EBIT jumped 32.3%, lifting the margin to 4.2%. For the fi...
Bygghemma Wins First AI Visibility Award at Swedish SEO Awards
Oct 21, 2026
Bygghemma, part of BHG Group AB, has won the inaugural AI Visibility award at the Swedish SEO Awards 2026, recognising its strong growth in mentions and citations across AI-powered search services. This marks Bygghemma’s third Swedish SEO Aw...
BHG Group Sets Nomination Committee Ahead of 2027 AGM
Sep 22, 2026
BHG Group AB has formed its Nomination Committee for the 2027 Annual General Meeting in line with principles approved at the 2026 AGM. The committee consists of representatives from the three largest shareholders, Ferd AS, EnTrust Global Partners ...
BHG Group Updates Share Count After Incentive Warrant Exercise
Jul 31, 2026
BHG Group AB has increased its share capital through the exercise of warrants under its long-term share-based incentive program for 2023/2026, resulting in the issuance of 188,000 new shares during July. This adjustment reflects the company’...
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.