H & M Hennes & Mauritz AB (publ) vs S. P. Apparels: Fair Value & Quality
Both stocks run through our valuation models. Here is how H & M Hennes & Mauritz AB (publ) (HM-B) and S. P. Apparels (SPAL) compare, as of Sep 14, 2026.
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
H & M Hennes & Mauritz AB (publ) leads: 8 to 6 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
What the models say
How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.
▲above the price, more than 15% above ●close to the price, 85% to 115% of the price ▼below the price, more than 15% below
| Model family | H & M Hennes & Mauritz AB (publ)Price SEK 164 | S. P. ApparelsPrice ₹1,023 |
|---|---|---|
| DCF Models | ▲+55%above the priceSEK 255 | ●-12%close to the price₹896 |
| Earnings-Based | ▼-48%below the priceSEK 84.94 | ▼-47%below the price₹546 |
| Dividend Discount | n/a | ▼-97%below the price₹35.15 |
| Multiples | ●+11%close to the priceSEK 182 | ▼-20%below the price₹820 |
| Asset-Based | ▼-88%below the priceSEK 20.51 | ▼-75%below the price₹252 |
| Growth DCF | ▲+48%above the priceSEK 244 | ▼-26%below the price₹759 |
| Economic Profit | ▼-33%below the priceSEK 110 | ▼-44%below the price₹570 |
| Growth Earnings | ●-1%close to the priceSEK 162 | ▼-21%below the price₹813 |
| Minimum | ▼-88%below the priceSEK 20.51 | ▼-97%below the price₹35.15 |
| Maximum | ▲+55%above the priceSEK 255 | ●-12%close to the price₹896 |
| Median | ●-1%close to the priceSEK 162 | ▼-35%below the price₹665 |
| Geometric mean | ▼-27%below the priceSEK 120 | ▼-58%below the price₹434 |
Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.
H & M Hennes & Mauritz AB (publ): 10 of 24 models see the stock below the current price.
S. P. Apparels: 22 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.
Compare two other stocks
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
H & M Hennes & Mauritz AB (publ) · Consumer Discretionary
S. P. Apparels · Consumer Discretionary
Bottom line
As of Sep 14, 2026, Fair Value Calculator sees H & M Hennes & Mauritz AB (publ) as the more attractively valued of the two: H & M Hennes & Mauritz AB (publ) trades at SEK 164 versus a fair value of SEK 165 (+1%), while S. P. Apparels trades at ₹1,023 versus ₹791 (-23%).
H & M Hennes & Mauritz AB (publ) has the higher quality score (72/100).
See the full analysis →More comparisons
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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.