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J.M. AB
(JM)
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Rating:49Neutral
Price Target:
kr125.00
▼(-9.02% Downside)
Action:Reiterated
Date:10/23/26
The score is held down primarily by weak financial performance—thin margins with a TTM net loss, rising leverage, and negative operating/free cash flow. Technicals are moderately supportive with price above major moving averages and positive MACD, but overbought readings (RSI/Stoch) temper the outlook. Valuation is mixed due to the negative P/E and only a modest dividend yield.
Positive Factors
Revenue Stabilization
Recent revenue stabilization provides a more resilient base for JM’s housing-development model after prior pressure. If maintained, a steadier top line can support project planning, improve operating leverage, and give management greater visibility when converting development activity into future earnings.
Negative Factors
Negative Cash Generation
Negative operating and free cash flow indicate that current project and working-capital demands are consuming cash while earnings are already pressured. Persistently weak conversion would reduce JM’s ability to fund development internally, repay debt, and maintain financial flexibility without improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Stabilization
Recent revenue stabilization provides a more resilient base for JM’s housing-development model after prior pressure. If maintained, a steadier top line can support project planning, improve operating leverage, and give management greater visibility when converting development activity into future earnings.
Read all positive factors
J.M. AB (JM) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr8.09B
Dividend Yield1.59%
Average Volume (3M)348.87K
Price to Earnings (P/E)―
Beta (1Y)0.75
Revenue Growth-14.45%
EPS Growth-134.64%
CountrySE
Employees1,822
SectorGeneral
Sector StrengthN/A
IndustryResidential Construction
Share Statistics
EPS (TTM)-0.96
Shares Outstanding64,504,840
10 Day Avg. Volume412,035
30 Day Avg. Volume348,868
Financial Highlights & Ratios
PEG Ratio-1.90
Price to Book (P/B)1.13
Price to Sales (P/S)0.84
P/FCF Ratio6.50
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)3.7
Revenue Forecast (FY)kr11.55B
J.M. AB Business Overview & Revenue Model
Company Description
JM AB (publ) is a prominent real estate developer operating across the Nordic region, concentrating on the creation and sale of residential properties and integrated living environments. The company segments its diverse operations into five key di...
How the Company Makes Money
JM primarily makes money by developing and selling newly built homes. Its revenue model is driven by (1) home sales: JM markets residential units and recognizes revenue as units are delivered to customers, with earnings reflecting the margin betwe...
J.M. AB Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
45
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.13B | 10.69B | 14.27B | 15.97B | 15.75B | 15.65B |
| Gross Profit | 1.06B | 1.26B | 1.63B | 2.76B | 3.14B | 3.21B |
| EBITDA | 150.00M | 555.00M | 904.00M | 1.60B | 2.07B | 2.32B |
| Net Income | -62.00M | 56.00M | 353.00M | 1.03B | 1.50B | 1.80B |
Balance Sheet | ||||||
| Total Assets | 27.21B | 23.71B | 25.16B | 30.07B | 24.38B | 24.39B |
| Cash, Cash Equivalents and Short-Term Investments | 1.10B | 580.00M | 506.00M | 1.67B | 1.84B | 3.98B |
| Total Debt | 14.20B | 10.78B | 11.74B | 16.04B | 8.48B | 8.38B |
| Total Liabilities | 19.17B | 15.78B | 16.99B | 22.10B | 15.66B | 16.01B |
| Stockholders Equity | 8.04B | 7.93B | 8.17B | 7.97B | 8.72B | 8.38B |
Cash Flow | ||||||
| Free Cash Flow | -591.00M | 1.38B | 3.45B | 1.06B | -2.64B | -966.00M |
| Operating Cash Flow | -847.00M | 1.40B | 3.47B | 1.06B | -2.63B | -961.00M |
| Investing Cash Flow | -229.00M | -28.00M | -69.00M | -2.00M | -29.00M | -17.00M |
| Financing Cash Flow | 1.67B | -1.28B | -4.58B | -1.50B | 504.00M | 1.91B |
J.M. AB Technical Analysis
Positive
137.40
Price Trends
122.19
Positive
124.12
Positive
123.56
Positive
Market Momentum
1.95
Negative
56.20
Neutral
63.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:JM, the sentiment is Positive. The current price of 137.4 is above the 20-day moving average (MA) of 118.90, above the 50-day MA of 122.19, and above the 200-day MA of 123.56, indicating a bullish trend. The MACD of 1.95 indicates Negative momentum. The RSI at 56.20 is Neutral, neither overbought nor oversold. The STOCH value of 63.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:JM.
J.M. AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | kr4.52B | 5.20 | ― | ― | 38.92% | 179.02% | |
61 Neutral | kr3.92B | 5.97 | ― | 0.48% | 5.25% | 79.76% | |
57 Neutral | kr2.60B | 11.93 | 3.06% | ― | 33.83% | 31.99% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | kr8.09B | -130.63 | -0.78% | 1.59% | -14.45% | -134.64% | |
48 Neutral | kr16.16B | 230.13 | 1.00% | 5.85% | -10.38% | -95.01% |
* General Sector Average
SE:JM
J.M. AB
124.20
-10.42
-7.74%
SE:NCC.B
NCC AB
182.20
-24.00
-11.64%
SE:BRIN.B
Brinova Fastigheter AB Class B
11.20
-5.15
-31.50%
SE:JOMA
John Mattson Fastighetsforetagen AB
52.10
-13.83
-20.97%
SE:PRISMA
Prisma Properties AB
27.50
3.10
12.70%
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.