HM-B.ST · Intrinsic value
Is H & M Hennes & Mauritz AB (publ) (HM-B.ST) overvalued or undervalued?
As of Oct 19, 2026, TickerWorth's valuation lenses put H & M Hennes & Mauritz AB (publ) (HM-B.ST) at SEK 47.57 – SEK 205.85, too broad a range to say where the delayed market price of SEK 172.45 sits in it, so we do not call it over- or undervalued. It is a model estimate; every input is sourced below.
Model by Miraaj Patel · generated from market data · Updated Oct 19, 2026 · How these pages are made
What is HM-B.ST worth?
- Fair-value range
- SEK 47.57 – SEK 205.85
- Market price
- SEK 172.45
- Gap to fair value
- —
- Verdict
- Too wide to call
Reverse DCF: Today's price implies revenue growth of 4.2% a year for 5 years; our model assumes 2.1% a year on average over the same horizon.
What is HM-B.ST's TickerWorth Score?
Middle of the pack — real strengths and real weaknesses
Compared with Consumer Cyclical companies in Europe
Its strongest point: a profitable, high-quality business. Its weakest: balance sheet looks stretched.
- Value · 46 of 100
Cheaper than 46% of Consumer Cyclical companies in Europe
- Price vs worth · 33 of 100
- Quality · 67 of 100
More profitable than 67% of Consumer Cyclical companies in Europe
- Financial health · 30 of 100
Financially stronger than 30% of Consumer Cyclical companies in Europe
- Growth · 48 of 100
Growing faster than 48% of Consumer Cyclical companies in Europe
- Momentum · 57 of 100
Outperformed 57% of Consumer Cyclical companies in Europe over the past year
Confidence: Medium confidence · Scored
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Why HM-B.ST gets a range, not one number
At a recent price of 172.45, H & M Hennes & Mauritz AB (publ) (HM-B.ST) sits inside a range too wide to call either way: our valuation lenses put the business somewhere between 47.57 and 205.85 per share. They disagree too widely for us to state a single fair value. We publish the range rather than a midpoint because a number that precise would claim more than the methods can support. This is an educational model, not a price target or a recommendation.
Read the full reasoning
The valuation discounts H & M Hennes & Mauritz AB (publ)'s projected free cash flows at a weighted-average cost of capital (WACC) of 9.1%, with a long-run terminal growth rate of 2.5%. About 73% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly 4.2% annual revenue growth for HM-B.ST. Our base case instead compounds to about 2.1% a year over the same forecast, so the market is pricing in materially faster growth than our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, HM-B.ST's modeled DCF value ranges from about 100.24 to 243.54 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what H & M Hennes & Mauritz AB (publ) would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of HM-B.ST's intrinsic value. Figures update as new filings and prices come in.
Every input behind HM-B.ST's DCF
| Input | Value |
|---|---|
| Base-year revenueLive feed — totalRevenue (TTM) | 220,845,000,000 |
| Base EBIT marginComputed — trailing operatingMargins, held roughly flat | 10.7% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 0% → 1% → 2% → 3% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 5.2% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 1.05 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesLive feed — sharesOutstanding | 1,596M |
| Market priceLast known price · as of 2026-10-19 19:30 UTC | 172.45 |
Change HM-B.ST's assumptions
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What does H & M Hennes & Mauritz AB (publ) do?
What does it do?
H & M Hennes & Mauritz AB (publ) provides clothing, accessories, footwear, cosmetics, home textiles, and homeware for women, men, and children worldwide. It offers sportswear, shoes, bags, accessories, ready-to-wear, activewear, and jeans; interior products, including bed linens, towels and tablecloths, tableware, furniture, and lighting; and beauty products, such as make-up and fragrance collections. It operates in the Apparel Manufacturing industry (Consumer Cyclical sector), headquartered in Sweden. The company employs roughly 63,292 people.
How does it make money?
The business turns 220.8B in annual revenue into profit. Out of every $100 of sales, about $11 is left as operating profit (operating margin of 10.7%), after a 54% gross margin on the products/services it sells. After all costs, taxes and interest, 6.0% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks stretched: carries heavy debt (2.0× equity), can just cover its short-term bills (1.1× current ratio), and is currently profitable.
HM-B.ST insider trading
Insider filings are available for US-listed companies only.
Common questions
What is HM-B.ST's intrinsic value?
TickerWorth's valuation lenses put H & M Hennes & Mauritz AB (publ) (HM-B.ST) between 47.57 and 205.85 per share, versus a market price of 172.45. They disagree too widely for us to state a single fair value, so we publish the range.
Is HM-B.ST overvalued or undervalued?
At 172.45 the price sits inside a range too wide to call either way. We don't call HM-B.ST overvalued or undervalued from a range this wide. This is an educational estimate, not advice.
What discount rate is used for HM-B.ST?
A WACC of 9.1% and a terminal growth rate of 2.5%.
Is H & M Hennes & Mauritz AB (publ) stock undervalued?
TickerWorth's fair-value range for H & M Hennes & Mauritz AB (publ) (HM-B.ST) is SEK 47.57 – SEK 205.85 against a market price of SEK 172.45. Too wide to call. We publish a range here, not one number, so we do not call it over- or undervalued. This is a model estimate, not investment advice.
H & M Hennes & Mauritz AB (publ) (HM-B.ST) DCF valuation and fair value
Our fair-value range for H & M Hennes & Mauritz AB (publ) (HM-B.ST) is SEK 47.57 – SEK 205.85, built on a 9.1% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into H & M Hennes & Mauritz AB (publ) stock?
Today's price implies revenue growth of 4.2% a year for 5 years; our model assumes 2.1% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of SEK 172.45. A model estimate, not investment advice.
H & M Hennes & Mauritz AB (publ) (HM-B.ST) insider trading
We have no recent SEC Form 4 insider filings on file for H & M Hennes & Mauritz AB (publ) (HM-B.ST). Form 4 covers US-listed companies only.
Other ways into the coverage
Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.