![H&M Q2'24: Strong Q2, but more margin pressure in H2](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/ceeffbfc-fd7b-40d9-9840-4beab77277d5.png)
Log in to your Inderes Free account to see all free content on this page.
H&M
167.65 SEK -1.03%3,720 investors are following this company
Hennes & Mauritz is a retail chain. The range consists of clothing, shoes, and accessories. The group also includes brands such as COS, Monki, Weekday, Cheap Monday, and Other Stories. Today, the company also conducts business in home furnishings via H&M Home. The company has a presence in all global regions. H&M was originally founded in 1947 and is headquartered in Stockholm, Sweden.
P/E (24e)
19.22
EV/EBIT (adj.) (24e)
15.79
P/B (24e)
5.3
Dividend yield-% (24e)
4.18 %
Target price
170.00 SEK
Recommendation
Reduce
Updated
28.6.2024
NASDAQ Stockholm
HM B
Daily low / high price
165.7 / 169.6
SEK
Market cap
270.01B SEK
Turnover
1.15B SEK
Volume
6.9M
Business risk
Valuation risk
Current
Previous
Latest research
Extensive report
Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the reportAnalyst
![Rauli Juva Rauli Juva](https://www.inderes.se/cdn-cgi/image/format=auto,width=128,height=128,quality=90,fit=cover/https://core.inderes.fi/sites/default/files/2023-08/Rauli_Juva.jpg)
Rauli Juva
Analyst
Financial calendar
Interim report
26.09.2024
Half year dividend
07.11.2024
Annual report
30.01.2025
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Stefan Persson and family | 58.7 % | 80.5 % |
Lottie Tham | 5.4 % | 2.6 % |
Premium
This content is for our Premium customers only.
Forum updates
Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 187,031.0 | 198,967.0 | 223,553.0 | 236,035.0 | 239,274.0 | 249,800.0 | 261,827.0 | 274,600.0 |
growth-% | -19.6 % | 6.4 % | 12.4 % | 5.6 % | 1.4 % | 4.4 % | 4.8 % | 4.9 % |
EBITDA | 29,052.0 | 37,575.0 | 29,748.0 | 37,492.0 | 42,186.0 | 46,515.9 | 47,624.6 | 49,027.1 |
EBIT (adj.) | 3,099.0 | 15,255.0 | 9,760.0 | 13,538.0 | 20,482.0 | 23,799.9 | 24,856.5 | 26,047.2 |
EBIT | 3,099.0 | 15,255.0 | 7,169.0 | 14,537.0 | 20,283.0 | 23,799.9 | 24,856.5 | 26,047.2 |
Profit before taxes | 2,052.0 | 14,300.0 | 6,216.0 | 13,010.0 | 18,482.0 | 22,299.9 | 23,656.5 | 25,547.2 |
Net income | 1,243.0 | 11,010.0 | 3,566.0 | 8,723.0 | 13,852.0 | 16,836.5 | 17,860.7 | 19,288.2 |
EPS (adj.) | 0.75 | 6.65 | 3.74 | 4.73 | 8.72 | 10.45 | 11.09 | 11.98 |
growth-% | -90.8 % | 785.8 % | -43.8 % | 26.4 % | 84.5 % | 19.8 % | 6.1 % | 8.0 % |
Dividend | 0.00 | 6.50 | 6.50 | 6.50 | 7.00 | 7.50 | 8.50 | 11.98 |
Dividend ratio | 97.7 % | 299.8 % | 120.9 % | 81.4 % | 71.7 % | 76.6 % | 100.0 % |
Login required
This content is only available for logged in users
Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 15.5 % | 18.9 % | 13.3 % | 15.9 % | 17.6 % | 18.6 % | 18.2 % | 17.9 % |
EBIT-% (adj.) | 1.7 % | 7.7 % | 4.4 % | 5.7 % | 8.6 % | 9.5 % | 9.5 % | 9.5 % |
EBIT-% | 1.7 % | 7.7 % | 3.2 % | 6.2 % | 8.5 % | 9.5 % | 9.5 % | 9.5 % |
ROE | 2.2 % | 19.2 % | 6.4 % | 17.7 % | 28.1 % | 31.4 % | 30.1 % | 29.6 % |
ROI | 3.0 % | 11.7 % | 5.7 % | 11.7 % | 16.1 % | 18.7 % | 19.6 % | 20.2 % |
Login required
This content is only available for logged in users
Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (SEK) | 172.00 | 178.08 | 112.24 | 176.62 | 167.65 | 167.65 | 167.65 | 167.65 |
Shares | 1,655.1 | 1,655.1 | 1,645.0 | 1,622.0 | 1,610.5 | 1,610.5 | 1,610.5 | 1,610.5 |
Market cap | 284,672.0 | 294,734.9 | 184,634.8 | 286,477.6 | 270,000.3 | 270,000.3 | 270,000.3 | 270,000.3 |
Enterprise value | 348,197.0 | 333,954.9 | 235,562.8 | 338,049.6 | 323,490.3 | 321,632.4 | 320,441.2 | 320,078.7 |
EV/S | 1.9 | 1.7 | 1.1 | 1.4 | 1.4 | 1.3 | 1.2 | 1.2 |
EV/EBITDA | 12.0 | 8.9 | 7.9 | 9.0 | 7.7 | 6.9 | 6.7 | 6.5 |
EV/EBIT (adj.) | 112.4 | 21.9 | 24.1 | 25.0 | 15.8 | 13.5 | 12.9 | 12.3 |
EV/EBIT | 112.4 | 21.9 | 32.9 | 23.3 | 15.9 | 13.5 | 12.9 | 12.3 |
P/E (adj.) | 229.0 | 26.8 | 30.0 | 37.4 | 19.2 | 16.0 | 15.1 | 14.0 |
P/E | 229.0 | 26.8 | 51.8 | 33.1 | 19.5 | 16.0 | 15.1 | 14.0 |
P/B | 5.2 | 4.9 | 3.6 | 6.0 | 5.3 | 4.8 | 4.3 | 4.0 |
P/S | 1.5 | 1.5 | 0.8 | 1.2 | 1.1 | 1.1 | 1.0 | 1.0 |
Dividend yield | 3.7 % | 5.8 % | 3.7 % | 4.2 % | 4.5 % | 5.1 % | 7.1 % | |
Equity ratio | 31.3 % | 33.4 % | 27.9 % | 26.3 % | 28.4 % | 31.0 % | 34.4 % | 36.1 % |
Gearing ratio | 116.3 % | 65.3 % | 100.3 % | 108.3 % | 105.1 % | 91.4 % | 81.0 % | 73.8 % |
Login required
This content is only available for logged in users
Quarter data
Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24e | Q4/24e | 2024e | Q1/25e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 60,897.0 | 62,650.0 | 236,035.0 | 53,669.0 | 59,605.0 | 61,600.0 | 64,400.0 | 239,274.0 | |
EBITDA | 10,466.0 | 10,562.0 | 37,492.0 | 7,480.0 | 12,598.0 | 11,332.0 | 10,776.0 | 42,186.0 | |
EBIT | 4,739.0 | 4,332.0 | 14,537.0 | 2,077.0 | 7,098.0 | 5,832.0 | 5,276.0 | 20,283.0 | |
Profit before taxes | 4,373.0 | 3,916.0 | 13,010.0 | 1,606.0 | 6,668.0 | 5,382.0 | 4,826.0 | 18,482.0 | |
Net income | 3,319.0 | 1,576.0 | 8,723.0 | 1,201.0 | 4,995.0 | 4,036.5 | 3,619.5 | 13,852.0 |
Login required
This content is only available for logged in users
ShowingAll content types
![H&M Q2'24: Strong Q2, but more margin pressure in H2](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/ceeffbfc-fd7b-40d9-9840-4beab77277d5.png)
H & M Hennes & Mauritz AB Six-month report 2024
H&M Q2’24 earnings preview: Positive margin trend set to continue
Join Inderes community
Don't miss out - create an account and get all the possible benefits
FREE account
Stock market's most popular morning newsletter
Analyst comments and recommendations
Stock comparison tool
PREMIUM account
All company reports and content
Premium tools (e.g. insider transactions & stock screener)
Model portfolio
H & M Hennes & Mauritz AB: New number of shares and votes in H&M
H & M Hennes & Mauritz AB: Information from the 2024 AGM of H & M Hennes & Mauritz AB
![Gross margin improved faster than expected](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/ceeffbfc-fd7b-40d9-9840-4beab77277d5.png)
Gross margin improved faster than expected
![H&M Q1: Ahead of expectations thanks to strong gross margin](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/58b6a8b3-2955-470d-a2d9-d462ed649a66.png)
H&M Q1: Ahead of expectations thanks to strong gross margin
H & M Hennes & Mauritz AB: H&M's nomination committee proposes Helena Saxon as new board member
H & M Hennes & Mauritz AB: NOTICE OF ANNUAL GENERAL MEETING
H & M Hennes & Mauritz AB's Annual and Sustainability Report 2023 is published
H & M Hennes & Mauritz AB Three-month report
![H&M Q1 on Wednesday: Negative revenue growth but clearly higher margin expected](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/43d7cc37-f8c5-4d19-85a6-35d7e109deed.png)
H&M Q1 on Wednesday: Negative revenue growth but clearly higher margin expected
H & M Hennes & Mauritz AB: Buybacks of shares by H&M during week 9, 2024. The share buyback programme is now complete and has been closed.
H & M Hennes & Mauritz AB: Buybacks of shares by H&M during week 8, 2024
H & M Hennes & Mauritz AB: Buybacks of shares by H&M during week 7, 2024
H & M Hennes & Mauritz AB: CORRECTION: Buybacks of shares by H&M during week 6, 2024
H & M Hennes & Mauritz AB: Buybacks of shares by H&M during week 6, 2024
H & M Hennes & Mauritz AB: Buybacks of shares by H&M during week 5, 2024
![Share price drop offers an entry point](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/a5c5be7a-a34e-4c5b-9411-ce185aa0e598.png)