HomeToGo SE (HTG) AI Stock Analysis

• Market Cap: €223.13M
• Dividend Yield: N/A
• Average Volume (3M): 43.58K
• Price to Earnings (P/E): 2.5
• Beta (1Y): 0.23
• Revenue Growth: 18.27%
• EPS Growth: -87.64%
• Country: DE
• Employees: 795
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): -0.50
• Shares Outstanding: 175,680,650
• 10 Day Avg. Volume: 59,132
• 30 Day Avg. Volume: 43,583
• PEG Ratio: -0.02
• Price to Book (P/B): 1.16
• Price to Sales (P/S): 1.05
• P/FCF Ratio: -7.57
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.04
• Revenue Forecast (FY): €409.99M

• Rating: 48 Neutral
• Price Target: €1.50 ▼(-7.41% Downside)
• Action: Reiterated Date: 03/21/26
• Date: Action: Reiterated 03/21/26

The score is held back primarily by persistent losses and structurally negative free cash flow, alongside a bearish technical trend (below key moving averages with negative MACD). A low P/E provides some valuation support, but it is not enough to offset the financial and momentum risks.

Positive Factors

Sustained revenue growth with strong gross profit

HomeToGo shows multi-year top-line momentum and very high gross profit, indicating solid unit economics and market demand. Durable revenue growth provides a platform to scale fixed costs and improve operating leverage over time if management converts gross profit into positive operating income.

Marketplace aggregator business model

The aggregation model drives breadth of supply and user convenience, creating network effects and defensibility. Durable partnerships and referral/transaction monetization let HomeToGo monetize scale across channels and expand B2B SaaS offerings to accommodation partners for diversified, recurring revenue.

Sizable equity base provides balance-sheet support

A substantial equity base cushions ongoing losses and gives the company runway to invest in growth and product development without immediate insolvency risk. This structural buffer improves resilience while the business works to reach sustainable cash generation.

Negative Factors

Persistent negative EBIT and net income

Despite solid top-line and gross profit, operating profitability is consistently negative and the net loss widened in 2025. Structural inability so far to translate gross margins into positive operating income raises long-term sustainability concerns unless cost discipline or higher-margin revenue mix is achieved.

Consistently negative operating and free cash flow

Chronic negative operating and free cash flow means the business has not become self-funding and remains dependent on external capital. This constrains strategic flexibility, increases refinancing or dilution risk, and limits ability to invest counter-cyclically during travel demand shifts.

Notable step-up in total debt in 2025

A material increase in debt in 2025 raises leverage and servicing pressure at a time of negative cash flows. Higher debt reduces financial flexibility, heightens refinancing risk, and could force trade-offs between servicing liabilities and reinvesting in growth or product development.

HomeToGo SE Business Overview & Revenue Model

Company Description

HomeToGo SE (HTG) is a leading global meta-search engine for vacation rentals, headquartered in Berlin, Germany. The company aggregates listings from various vacation rental providers and platforms, enabling users to search for and compare accommodations worldwide. HTG operates primarily in the travel and tourism sector, focusing on providing travelers with an extensive selection of rental properties ranging from apartments and cottages to villas and cabins. Its core services include facilitating easy access to vacation rental options and enhancing the booking experience through a user-friendly interface.

How the Company Makes Money

HomeToGo primarily generates revenue from its vacation rental marketplace activities. A key revenue stream comes from monetizing user traffic through referral- and transaction-based models: when users click through from HomeToGo to a partner site to complete a booking, HomeToGo may earn referral revenue (e.g., cost-per-click and/or cost-per-acquisition arrangements), and when bookings are processed via booking-enabled flows, the company may earn a commission or other booking-related fees tied to the transaction value. HomeToGo also earns revenue through partnerships with vacation rental suppliers, online travel agencies, and property managers whose listings are distributed on the platform; commercial terms can include performance-based fees and other marketing/merchandising placements (specific partner names and exact terms: null). In addition, HomeToGo has expanded into B2B software and services for professional accommodation providers (e.g., technology that supports distribution, booking, and operational workflows), which can contribute subscription and/or service revenues (specific product names, pricing, and mix: null). Overall earnings are influenced by factors such as travel demand and seasonality, the breadth and quality of listing supply, conversion rates on partner and direct-booking paths, marketing efficiency, and the scale of its distribution and technology partnerships.

HomeToGo SE Financial Statement Overview

Summary

Revenue growth and very high gross profit signal strong unit economics, but profitability remains weak with persistent negative EBIT and net income and a worsening net loss in 2025. Cash flow is the biggest drag: operating cash flow is negative in most years and free cash flow is consistently negative, indicating ongoing funding needs. Balance sheet strength is moderate with a sizable equity base, but higher debt in 2025 increases risk.

Income Statement

Top-line momentum is solid, with revenue rising from 2023 to 2024 and further improving in 2025 (annual growth rates of ~10.3%, ~31.0%, and ~7.9%, respectively). Gross profit remains very high, indicating strong unit economics. However, profitability is the key weakness: EBIT and net income are negative across all periods provided, and 2025 shows a meaningful deterioration versus 2024 (net loss widening sharply). Overall, growth is evident, but the earnings profile remains pressured and volatile.

Balance Sheet

The balance sheet is supported by a sizable equity base in recent years (2021–2025), which helps absorb ongoing losses. Leverage was very elevated in 2020, but improved materially in 2021–2024 as debt remained relatively low versus equity; 2025 shows a notable step-up in total debt, which increases financial risk. Returns on equity are consistently negative, reflecting continued losses and limited evidence yet of balance-sheet-driven value creation.

Cash Flow

Cash generation is a major concern. Operating cash flow is negative in most years (including 2025), and free cash flow is consistently negative across all periods shown, indicating the business has not yet become self-funding. 2024 showed a brief improvement in operating cash flow turning slightly positive, but that reversed in 2025 with a sizable outflow. While free cash flow loss narrowed in 2024 versus 2023, it worsened again in 2025, pointing to ongoing funding needs and execution risk.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Mar 2022
Income Statement
Total Revenue	255.47M	212.28M	162.03M	146.84M	94.84M
Gross Profit	203.56M	199.22M	145.76M	134.64M	90.50M
EBITDA	-62.76M	-5.93M	-15.31M	-44.63M	-167.84M
Net Income	-100.00M	-30.80M	-28.28M	-53.50M	-166.79M
Balance Sheet
Total Assets	616.35M	380.76M	323.95M	344.62M	365.28M
Cash, Cash Equivalents and Short-Term Investments	92.41M	82.68M	142.47M	161.56M	252.91M
Total Debt	98.25M	12.55M	17.77M	22.77M	26.55M
Total Liabilities	350.56M	113.54M	73.83M	80.92M	64.60M
Stockholders Equity	230.81M	234.37M	250.12M	263.70M	300.69M
Cash Flow
Free Cash Flow	-35.44M	-9.77M	-17.37M	-40.77M	-85.22M
Operating Cash Flow	-34.03M	939.00K	-10.12M	-36.35M	-83.26M
Investing Cash Flow	-95.60M	-28.58M	12.86M	-621.00K	-118.34M
Financing Cash Flow	151.18M	-10.57M	-5.64M	-5.25M	317.09M

HomeToGo SE Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.62
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:HTG, the sentiment is Negative. The current price of 1.62 is above the 20-day moving average (MA) of 1.39, above the 50-day MA of 1.48, and above the 200-day MA of 1.57, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 27.63 is Positive, neither overbought nor oversold. The STOCH value of 20.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:HTG.

HomeToGo SE Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KA8	66 Neutral	€14.86M	-7.86	29.87%	4.87%	-0.74%	31.08%
EDL	65 Neutral	€121.06M	7.16	21.56%	6.85%	-0.48%	-13.65%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
APM	60 Neutral	€66.66M	40.00	9.29%	―	90.24%	289.96%
HTG	48 Neutral	€223.13M	2.51	-12.60%	―	18.27%	-87.64%
PAL	45 Neutral	€31.25M	-5.29	183.09%	―	―	―