![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
164,8 SEK -1,58%3.718 investorer følger denne virksomhed
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)
18,89
EV/EBIT (adj.) (24e)
15,57
P/B (24e)
5,21
Udbytteafkast, % (24e)
4,25 %
Kursmål
170.00 SEK
Anbefaling
Reducer
Opdateret
28.6.2024
NASDAQ Stockholm
HM B
Daglig lav / høj pris
163,45 / 168,45
SEK
Markedsværdi
265,42 mia. SEK
Aktieomsætning
670,48 mio. SEK
Volumen
4,1 mio.
Business risk
Valuation risk
Current
Previous
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Rauli Juva
Analytiker
Finanskalender
Delårsrapport
26.09.2024
Halvårligt udbytte
07.11.2024
Årsrapport
30.01.2025
Større aktionærerKilde: Millistream Market Data AB
Ejer | Kapital | Stemmer |
---|---|---|
Stefan Persson and family | 58,7 % | 80,5 % |
Lottie Tham | 5,4 % | 2,6 % |
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Resultatopgørelse
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Omsætning | 187.031,0 | 198.967,0 | 223.553,0 | 236.035,0 | 239.274,0 | 249.800,0 | 261.827,0 | 274.600,0 |
vækst-% | -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 |
Overskud før skat | 2.052,0 | 14.300,0 | 6.216,0 | 13.010,0 | 18.482,0 | 22.299,9 | 23.656,5 | 25.547,2 |
Netto indkomst | 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 |
vækst-% | -90,8 % | 785,8 % | -43,8 % | 26,4 % | 84,5 % | 19,8 % | 6,1 % | 8,0 % |
Udbytte | 0,00 | 6,50 | 6,50 | 6,50 | 7,00 | 7,50 | 8,50 | 11,98 |
Udbytte ratio | 97,7 % | 299,8 % | 120,9 % | 81,4 % | 71,7 % | 76,6 % | 100,0 % |
Lønsomhed og afkast på kapital
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 % |
Værdiansættelse
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Aktiekurs (SEK) | 172,00 | 178,08 | 112,24 | 176,62 | 164,80 | 164,80 | 164,80 | 164,80 |
Aktier | 1.655,1 | 1.655,1 | 1.645,0 | 1.622,0 | 1.610,5 | 1.610,5 | 1.610,5 | 1.610,5 |
Markedsværdi | 284.672,0 | 294.734,9 | 184.634,8 | 286.477,6 | 265.410,4 | 265.410,4 | 265.410,4 | 265.410,4 |
Enterprise value | 348.197,0 | 333.954,9 | 235.562,8 | 338.049,6 | 318.900,4 | 317.042,5 | 315.851,3 | 315.488,8 |
EV/S | 1,9 | 1,7 | 1,1 | 1,4 | 1,3 | 1,3 | 1,2 | 1,1 |
EV/EBITDA | 12,0 | 8,9 | 7,9 | 9,0 | 7,6 | 6,8 | 6,6 | 6,4 |
EV/EBIT (adj.) | 112,4 | 21,9 | 24,1 | 25,0 | 15,6 | 13,3 | 12,7 | 12,1 |
EV/EBIT | 112,4 | 21,9 | 32,9 | 23,3 | 15,7 | 13,3 | 12,7 | 12,1 |
P/E (adj.) | 229,0 | 26,8 | 30,0 | 37,4 | 18,9 | 15,8 | 14,9 | 13,8 |
P/E | 229,0 | 26,8 | 51,8 | 33,1 | 19,2 | 15,8 | 14,9 | 13,8 |
P/B | 5,2 | 4,9 | 3,6 | 6,0 | 5,2 | 4,7 | 4,3 | 3,9 |
P/S | 1,5 | 1,5 | 0,8 | 1,2 | 1,1 | 1,1 | 1,0 | 1,0 |
Udbytteprocent | 3,7 % | 5,8 % | 3,7 % | 4,3 % | 4,6 % | 5,2 % | 7,3 % | |
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 % |
Kvartalsdata
Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24e | Q4/24e | 2024e | Q1/25e | |
---|---|---|---|---|---|---|---|---|---|
Omsætning | 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 | |
Overskud før skat | 4.373,0 | 3.916,0 | 13.010,0 | 1.606,0 | 6.668,0 | 5.382,0 | 4.826,0 | 18.482,0 | |
Netto indkomst | 3.319,0 | 1.576,0 | 8.723,0 | 1.201,0 | 4.995,0 | 4.036,5 | 3.619,5 | 13.852,0 |
ViserAlle indholdstyper
![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
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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)