Haypp Group AB (HAYPP) AI Stock Analysis

• Market Cap: kr3.55B
• Dividend Yield: N/A
• Average Volume (3M): 45.19K
• Price to Earnings (P/E): 59.1
• Beta (1Y): 0.45
• Revenue Growth: 2.79%
• EPS Growth: 116.42%
• Country: SE
• Employees: 199
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Tobacco
• EPS (TTM): 1.00
• Shares Outstanding: 30,623,250
• 10 Day Avg. Volume: 29,988
• 30 Day Avg. Volume: 45,188
• PEG Ratio: 0.05
• Price to Book (P/B): 2.75
• Price to Sales (P/S): 0.49
• P/FCF Ratio: 11.24
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: kr119.00 ▼(-3.25% Downside)

Haypp Group AB's overall stock score is primarily driven by its strong financial performance, showcasing robust growth and profitability. However, technical analysis indicates potential bearish momentum, and the high P/E ratio suggests overvaluation, which dampens the overall score.

Positive Factors

Balance sheet strength

Very low leverage (D/E 0.18) and a strong equity ratio provide durable financial flexibility. This reduces refinancing risk, lowers interest expense sensitivity, and allows the company to fund inventory, marketing, or M&A without strain, supporting stability over coming quarters.

Robust cash generation

Substantial free cash flow growth and high cash conversion indicate the business reliably converts profits into cash. That strengthens reinvestment capacity for inventory, logistics and customer acquisition, and provides a buffer for regulatory or market headwinds over the medium term.

Revenue and margin improvement

Sustained double-digit revenue growth coupled with improving gross margins signals scalable unit economics and better sourcing/fulfillment efficiency. This supports durable profitability improvements and validates the direct-to-consumer model across multiple markets over the next 2-6 months.

Negative Factors

Thin net profitability

Despite revenue and gross margin gains, net margin remains low at ~1.9%, leaving little cushion for cost shocks. Low absolute profitability limits retained earnings available for growth investments and makes results sensitive to marketing, logistics or regulatory cost increases over time.

Regulatory and compliance exposure

Selling age-restricted nicotine products creates ongoing regulatory risk: tighter age verification, marketing limits, excise/tax changes or market bans can reduce addressable markets or raise costs. Such structural regulatory shifts can materially compress demand and margins over months.

Revenue concentration and CAC reliance

Heavy reliance on DTC e-commerce and paid digital acquisition concentrates revenue and leaves profitability exposed to rising CAC or ad-platform restrictions. Limited diversification of revenue streams increases execution risk and could impair growth if marketing effectiveness weakens.

Haypp Group AB Business Overview & Revenue Model

Company Description

Haypp Group AB (publ) operates as an online retailer of tobacco-free nicotine pouches and snus products in Sweden, Norway, rest of Europe, and the United State. It offers its products through e-commerce platforms and brands comprising haypp.com, nicokick.com, snushjem.no, snusbolaget.se, snus.com, snusmarkt.ch, northerner.com, snuslageret.no, snusnetto.com, and nettotobak.com. The company was formerly known as Snusbolaget Norden Holding AB and changed its name to Haypp Group AB in September 2019. Haypp Group AB (publ) was founded in 2009 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Haypp Group generates revenue primarily through the sale of nicotine products via its online platforms. The company operates a direct-to-consumer model, allowing it to capitalize on the increasing demand for nicotine pouches and snus. Key revenue streams include product sales, subscription services, and partnerships with various brands for exclusive offerings. Additionally, the company's strategic marketing and customer loyalty programs contribute to repeat purchases and brand retention, which are vital for its earnings. The company also benefits from economies of scale as it expands its market presence and product range.

Haypp Group AB Financial Statement Overview

Summary

Haypp Group AB demonstrates strong financial performance across all verticals. The income statement reflects robust growth and improved profitability. The balance sheet shows financial stability with low leverage and strong equity. Cash flow metrics indicate excellent cash generation and management. The company is well-positioned for future growth with a solid financial foundation.

Income Statement

The income statement shows a strong revenue growth rate of 21.2% TTM, indicating robust sales expansion. Gross profit margin improved to 18.3% TTM, reflecting better cost management. Net profit margin increased to 1.9% TTM, showing enhanced profitability. EBIT and EBITDA margins also improved, suggesting operational efficiency gains. Overall, the company demonstrates solid growth and profitability trends.

Balance Sheet

The balance sheet reveals a healthy debt-to-equity ratio of 0.18 TTM, indicating low leverage and financial stability. Return on equity improved to 10.8% TTM, reflecting better utilization of equity. The equity ratio stands at 56.3% TTM, showcasing a strong equity base. The company maintains a stable financial position with manageable debt levels.

Cash Flow

Cash flow analysis shows a significant free cash flow growth of 77.7% TTM, indicating strong cash generation capabilities. The operating cash flow to net income ratio is 3.2 TTM, suggesting efficient cash conversion. Free cash flow to net income ratio is 0.51 TTM, highlighting effective cash management. Overall, the company exhibits robust cash flow performance with strong growth and conversion metrics.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.71B	3.68B	3.17B	2.60B	2.27B	1.73B
Gross Profit	541.74M	585.07M	427.01M	345.19M	259.06M	231.44M
EBITDA	219.88M	203.29M	116.15M	86.94M	37.27M	19.79M
Net Income	58.71M	44.98M	5.04M	20.08M	-27.63M	-27.81M
Balance Sheet
Total Assets	1.21B	1.18B	1.06B	1.02B	925.99M	549.62M
Cash, Cash Equivalents and Short-Term Investments	34.94M	35.22M	11.42M	15.20M	49.05M	32.03M
Total Debt	136.78M	204.27M	235.88M	225.29M	95.10M	91.95M
Total Liabilities	529.39M	527.56M	456.38M	423.74M	357.38M	340.79M
Stockholders Equity	681.01M	655.95M	598.77M	597.54M	568.62M	208.83M
Cash Flow
Free Cash Flow	128.01M	160.32M	20.05M	-79.26M	-293.61M	26.12M
Operating Cash Flow	187.79M	194.63M	80.55M	-32.35M	-48.34M	48.49M
Investing Cash Flow	-121.28M	-114.96M	-61.01M	-49.27M	-245.90M	-21.63M
Financing Cash Flow	-48.56M	-57.73M	-23.00M	45.56M	309.25M	-4.13M

Haypp Group AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 123.00
• 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 SE:HAYPP, the sentiment is Negative. The current price of 123 is below the 20-day moving average (MA) of 127.18, below the 50-day MA of 140.23, and below the 200-day MA of 139.87, indicating a bearish trend. The MACD of -7.65 indicates Positive momentum. The RSI at 23.47 is Positive, neither overbought nor oversold. The STOCH value of 22.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:HAYPP.

Haypp Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
HAYPP	57 Neutral	kr3.55B	59.09	8.93%	―	2.79%	116.42%