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H&M Hennes & Mauritz AB Class B
(HM.B)
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Rating:61Neutral
Price Target:
kr170.00
▼(-7.86% Downside)
Action:Reiterated
Date:09/26/26
The score is primarily supported by improving operating performance and strong free-cash-flow generation, but is held back by elevated leverage and meaningful gross-margin compression. Weak technical momentum (below major moving averages with negative MACD and low RSI) further reduces the near-term profile, while valuation is moderately supportive due to the ~4.3% dividend yield despite a mid-range P/E.
Positive Factors
Omnichannel Global Model
H&M’s combination of owned stores, e-commerce, mobile and app channels gives it multiple customer access points across markets. Its broad brand and product portfolio can support durable reach, improve convenience, and provide flexibility as shopping behavior continues shifting between physical and digital channels.
Negative Factors
Elevated Leverage
Elevated and historically volatile leverage reduces the balance-sheet cushion available to absorb weaker trading or fund expansion. Lower equity relative to earlier years further limits financial flexibility, making future capital allocation more sensitive to earnings performance and cash-flow stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Omnichannel Global Model
H&M’s combination of owned stores, e-commerce, mobile and app channels gives it multiple customer access points across markets. Its broad brand and product portfolio can support durable reach, improve convenience, and provide flexibility as shopping behavior continues shifting between physical and digital channels.
Read all positive factors
H&M Hennes & Mauritz AB Class B (HM.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr280.00B
Dividend Yield3.96%
Average Volume (3M)2.39M
Price to Earnings (P/E)21.3
Beta (1Y)0.92
Revenue Growth-4.50%
EPS Growth21.73%
CountrySE
Employees140,000
SectorGeneral
Sector StrengthN/A
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)8.25
Shares Outstanding1,404,473,000
10 Day Avg. Volume1,829,416
30 Day Avg. Volume2,386,542
Financial Highlights & Ratios
PEG Ratio4.53
Price to Book (P/B)6.58
Price to Sales (P/S)1.24
P/FCF Ratio12.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr151.71Price Target Upside-17.77% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering7
EPS Forecast (FY)8
Revenue Forecast (FY)kr222.59B
H&M Hennes & Mauritz AB Class B Business Overview & Revenue Model
Company Description
H&M Hennes & Mauritz AB (publ) functions as an international retail enterprise, offering an extensive selection of goods such as clothing, accessories, footwear, beauty products, and home furnishings. Its offerings are designed for a wide customer...
How the Company Makes Money
H&M makes money primarily by retailing fashion and lifestyle products to consumers through its owned channels, generating revenue from the sale of apparel and related items across its brand portfolio. Its core revenue stream is net sales from prod...
H&M Hennes & Mauritz AB Class B Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
74
Positive
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 220.84B | 228.28B | 234.48B | 236.03B | 223.55B | 198.97B |
| Gross Profit | 89.13B | 103.57B | 125.30B | 120.90B | 113.28B | 105.01B |
| EBITDA | 39.73B | 39.41B | 40.53B | 38.11B | 29.91B | 37.58B |
| Net Income | 13.20B | 12.16B | 11.62B | 8.75B | 3.57B | 11.01B |
Balance Sheet | ||||||
| Total Assets | 181.05B | 170.27B | 180.21B | 181.27B | 182.05B | 179.78B |
| Cash, Cash Equivalents and Short-Term Investments | 26.51B | 20.91B | 17.34B | 26.40B | 21.71B | 27.47B |
| Total Debt | 79.38B | 122.45B | 76.95B | 77.97B | 72.64B | 66.69B |
| Total Liabilities | 141.49B | 127.33B | 134.00B | 133.67B | 131.29B | 119.76B |
| Stockholders Equity | 39.49B | 42.92B | 46.14B | 47.52B | 50.76B | 60.02B |
Cash Flow | ||||||
| Free Cash Flow | 27.05B | 21.88B | 20.31B | 24.98B | 18.46B | 41.16B |
| Operating Cash Flow | 34.93B | 31.12B | 31.76B | 33.95B | 24.48B | 44.62B |
| Investing Cash Flow | -8.71B | -10.62B | -11.57B | -9.62B | -6.81B | -4.08B |
| Financing Cash Flow | -20.54B | -16.31B | -29.20B | -18.61B | -25.15B | -30.18B |
H&M Hennes & Mauritz AB Class B Technical Analysis
Positive
184.50
Price Trends
169.01
Positive
169.37
Positive
170.48
Positive
Market Momentum
2.88
Negative
62.94
Neutral
76.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:HM.B, the sentiment is Positive. The current price of 184.5 is above the 20-day moving average (MA) of 169.10, above the 50-day MA of 169.01, and above the 200-day MA of 170.48, indicating a bullish trend. The MACD of 2.88 indicates Negative momentum. The RSI at 62.94 is Neutral, neither overbought nor oversold. The STOCH value of 76.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:HM.B.
H&M Hennes & Mauritz AB Class B Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | kr1.46B | 14.17 | 27.55% | 7.75% | 0.49% | 18.73% | |
71 Outperform | kr8.06B | 13.77 | ― | 3.24% | 8.87% | 71.61% | |
64 Neutral | kr9.22B | 31.47 | ― | ― | 3.66% | -11.08% | |
61 Neutral | kr280.00B | 21.26 | 33.45% | 3.96% | -4.50% | 21.73% | |
61 Neutral | kr12.53B | 21.14 | ― | 2.21% | 8.20% | 40.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | kr13.30B | 16.56 | 11.65% | 3.24% | 8.88% | -6.70% |
* General Sector Average
SE:HM.B
H&M Hennes & Mauritz AB Class B
175.40
2.45
1.42%
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SE:NEWA.B
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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.