H & M Hennes & Mauritz AB (0HBP) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of H & M Hennes & Mauritz AB SEK 146, price SEK 160, upside -8.4%, quality 72 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range kr 84.11 – kr 188.12 · fair‑value band kr 109.76 – kr 182.94 · the kr 159.80 price screens above the kr 146.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
H & M Hennes & Mauritz AB (publ) provides clothing, accessories, footwear, cosmetics, home textiles, and homeware for women, men, and children worldwide.
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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. The company provides its products under the H&M, H&M HOME, H&M Move, H&M Beauty, COS, Cheap Monday, Weekday, Monki, & Other Stories, ARKET, and Singular Society brand names. In addition, it operates Sellpy, a broad digital platform for second-hand fashion and other products; Smartex.ai, a platform that detects faults in real time and helps in textile production; Syre, a platform which focuses on scaling textile-to-textile recycling primarily polyester; and A Retro Tale offers selected vintage and secondhand accessories, as well as provides collecting and sorting solutions to extend the useful life of no longer used garments through reuse and recycling under Looper Textile name. Further, the company operates seasonal vegetarian cafés and coffee shops. It offers its products through online and physical stores. H & M Hennes & Mauritz AB (publ) was incorporated in 1943 and is headquartered in Stockholm, Sweden.
Stock analysis
H & M Hennes & Mauritz AB (0HBP) currently trades at kr 159.80, while our model-based Fair Value estimate is kr 146.35, so the stock looks roughly fairly valued today (gap 9.2%).
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 175.12 per share, and 9 of the 23 models we run sit above the kr 159.80 price.
Bear case: the Asset-Based group reads lowest at kr 24.30, and 14 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: kr 109.76 (bear) to kr 182.94 (bull), the price of kr 159.80 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 72/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
H & M Hennes & Mauritz AB reported revenue of 199B SEK in FY2021 versus 200B SEK in FY2017, a compound −0.1%/yr. Reported net income was 11.0B SEK in FY2021, compounding −9.2%/yr from FY2017.
Key figures
Market cap 222B SEK (≈ $22.1B) · P/E ratio 0.2 · EPS (TTM) kr 7.43 · Dividend yield 4.4% · Net margin 5.5% · Return on equity 34.7% · Return on assets (EBIT) 11.4% · Operating margin 11.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −18% fair-value upside, at −8%, 0HBP screens cheaper than that median.
Fair Value models
Bear kr 109.76Fair Value kr 146.35Bull kr 182.94
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+6.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.8%
’17
’18
’19
’20
’21
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
10.3% (2017) → 7.7% (2021)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
Compare H & M Hennes & Mauritz AB with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Apparel Manufacturing · 212 stocks
Beats the industry median on 7/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score72 · Top 25%
Profitability
Return on equity (TTM)34.7% · Top 25%
Return on assets7.0% · Top 25%
Net margin (TTM)5.6% · Above median
Operating margin (TTM)11.0% · Top 25%
Growth and dividend
Revenue growth−3.3% · Below median
Dividend yield (TTM)4.4% · Above median
Balance sheet
Debt / equity0.15× · Above median
Valuation Multiplesvs Apparel Manufacturing median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "H & M Hennes & Mauritz AB Fair Value". https://www.fairvalue-calculator.com/stock/0HBP
Frequently asked questions
Is H & M Hennes & Mauritz AB (0HBP) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of kr 146.35 versus a price of kr 159.80, about −8% upside (fairly valued).
What is the fair value of 0HBP?
Our model-based fair value for H & M Hennes & Mauritz AB is kr 146.35 (as of Oct 3, 2026), built from audited fundamentals. The current price: kr 159.80.
What is the quality score of 0HBP?
H & M Hennes & Mauritz AB has a Quality Score of 72/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for H & M Hennes & Mauritz AB (0HBP)?
Our model-based price target is the fair value of kr 146.35 (as of Oct 3, 2026) from 23 valuation models. Cautious scenario kr 109.76, optimistic scenario kr 182.94. It is a calculation from audited fundamentals, not an analyst target.
What is the H & M Hennes & Mauritz AB stock forecast for 2026?
Our models put fair value at kr 146.35, about −8% upside versus a price of kr 159.80 (fairly valued). Cautious scenario kr 109.76, optimistic scenario kr 182.94. The calculation is refreshed regularly with new filings.
What is the revenue of H & M Hennes & Mauritz AB (0HBP)?
H & M Hennes & Mauritz AB reported trailing-twelve-month revenue of about 221B SEK (latest available figure, as of Oct 3, 2026).
Does H & M Hennes & Mauritz AB pay a dividend?
H & M Hennes & Mauritz AB currently shows a dividend yield of about 4.44% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of H & M Hennes & Mauritz AB (0HBP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For H & M Hennes & Mauritz AB it is kr 146.35 per share (as of Oct 3, 2026), against a price of kr 159.80. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is H & M Hennes & Mauritz AB stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 0HBP trades above its calculated fair value: price kr 159.80, fair value kr 146.35, a gap of about −8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0HBP?
No. The price is what the market pays today (kr 159.80); the fair value is what the company's own numbers justify (kr 146.35). For H & M Hennes & Mauritz AB the two are kr 13.45 per share apart. That gap is exactly why we show both numbers side by side.
How much is H & M Hennes & Mauritz AB worth?
The market values H & M Hennes & Mauritz AB at about 222B SEK (market capitalisation, as of Oct 3, 2026). Per share that is kr 159.80; our models calculate a fair value of kr 146.35 per share.
What do the bullish and bearish scenarios say about 0HBP?
Our models span a range for H & M Hennes & Mauritz AB: cautious scenario kr 109.76, base kr 146.35, optimistic kr 182.94 per share (as of Oct 3, 2026, price kr 159.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0HBP?
H & M Hennes & Mauritz AB trades at a price-to-earnings ratio of 0.2 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 146.35 is built from several models across several years.
How solid is the balance sheet of H & M Hennes & Mauritz AB (0HBP)?
Balance-sheet figures for H & M Hennes & Mauritz AB (as of Oct 3, 2026): return on equity 34.7%, debt of 0.15 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is 0HBP from its 52-week high?
H & M Hennes & Mauritz AB trades at kr 159.80, about 15% below its 52-week high of kr 188.12 and 1% above the low of kr 157.88 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 146.35 is for.
Which stocks are comparable to H & M Hennes & Mauritz AB?
From the same area (Consumer Cyclical) we also value Ralph Lauren Corporation, Moncler S.p.A, LPP SA, Levi Strauss & Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is H & M Hennes & Mauritz AB stock attractive at the current price?
The data as of Oct 3, 2026: price kr 159.80, calculated fair value kr 146.35 (−8%), Quality Score 72/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0HBP calculated?
We run H & M Hennes & Mauritz AB through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 146.35, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. H & M Hennes & Mauritz AB itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of H & M Hennes & Mauritz AB (0HBP)?
The closing price on Oct 2, 2026 was kr 159.80. Our model-based fair value is kr 146.35, about −8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with H & M Hennes & Mauritz AB right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of H & M Hennes & Mauritz AB
How large is the market capitalisation of H & M Hennes & Mauritz AB (0HBP)?
The market capitalisation of H & M Hennes & Mauritz AB is 222B SEK (≈ $22.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of H & M Hennes & Mauritz AB (0HBP)?
Earnings per share at H & M Hennes & Mauritz AB are kr 7.43 (price ÷ EPS = P/E 0.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of H & M Hennes & Mauritz AB (0HBP)?
The dividend yield of H & M Hennes & Mauritz AB is 4.4% (payout 95.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of H & M Hennes & Mauritz AB (0HBP)?
The net margin of H & M Hennes & Mauritz AB is 5.5% (fiscal year 2021). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of H & M Hennes & Mauritz AB (0HBP)?
The return on equity (ROE) of H & M Hennes & Mauritz AB is 34.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of H & M Hennes & Mauritz AB (0HBP)?
On an EBIT basis the return on assets of H & M Hennes & Mauritz AB is 11.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of H & M Hennes & Mauritz AB (0HBP)?
The operating margin of H & M Hennes & Mauritz AB is 11.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at H & M Hennes & Mauritz AB (0HBP)?
Revenue at H & M Hennes & Mauritz AB is growing −3.3% versus a year earlier (3y avg −1.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at H & M Hennes & Mauritz AB (0HBP)?
Earnings per share at H & M Hennes & Mauritz AB are growing +0.7% versus a year earlier. How much earnings per share grew versus a year earlier.
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