Haypp Group AB (SE:HAYPP)
:HAYPP
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Haypp Group AB
(HAYPP)
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Rating:58Neutral
Price Target:
kr124.00
▲(0.81% Upside)
Action:ReiteratedDate:02/18/26
The score is supported by improving fundamentals—sustained profitability since 2022 and positive free cash flow in recent years—while being held back by 2025 margin pressure and slowing growth, a bearish technical trend (below key moving averages with negative MACD), and a high P/E multiple.
Positive Factors
Consistent profitability since 2022
Recovery to sustained profits since 2022, with a step-up in 2024–2025, signals restored earnings power and an operational turnaround. Sustained profitability reduces reliance on external financing, enables reinvestment in logistics and marketing, and supports long-term viability of the direct-to-consumer nicotine retail model.
Negative Factors
Margin pressure and gross profit decline in 2025
A weaker gross profit in 2025 despite higher revenue points to margin erosion from pricing, product mix or rising costs. Persistent margin compression would reduce free cash flow and reinvestment capacity, force difficult trade-offs (price increases or cost cuts) and could undermine long-term profitability if structural.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent profitability since 2022
Recovery to sustained profits since 2022, with a step-up in 2024–2025, signals restored earnings power and an operational turnaround. Sustained profitability reduces reliance on external financing, enables reinvestment in logistics and marketing, and supports long-term viability of the direct-to-consumer nicotine retail model.
Read all positive factors
Haypp Group AB (HAYPP) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr3.67B
Dividend YieldN/A
Average Volume (3M)45.19K
Price to Earnings (P/E)102.8
Beta (1Y)0.39
Revenue Growth2.79%
EPS Growth116.42%
CountrySE
Employees199
SectorConsumer Defensive
Sector Strength42
IndustryTobacco
Share Statistics
EPS (TTM)0.08
Shares Outstanding30,623,250
10 Day Avg. Volume29,988
30 Day Avg. Volume45,188
Financial Highlights & Ratios
PEG Ratio-12.94
Price to Book (P/B)6.52
Price to Sales (P/S)1.14
P/FCF Ratio33.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr190.00Price Target Upside54.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)3.65
Revenue Forecast (FY)kr4.74B
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, n...
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 ...
Haypp Group AB Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
68
Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.85B | 3.68B | 3.17B | 2.60B | 2.27B |
| Gross Profit | 109.41M | 585.07M | 427.01M | 345.19M | 259.06M |
| EBITDA | 237.11M | 203.29M | 116.15M | 86.94M | 37.27M |
| Net Income | 42.48M | 44.98M | 5.04M | 20.08M | -27.63M |
Balance Sheet | |||||
| Total Assets | 1.26B | 1.18B | 1.06B | 1.02B | 925.99M |
| Cash, Cash Equivalents and Short-Term Investments | 57.26M | 35.22M | 11.42M | 15.20M | 49.05M |
| Total Debt | 236.41M | 204.27M | 235.88M | 225.29M | 95.10M |
| Total Liabilities | 592.62M | 527.56M | 456.38M | 423.74M | 357.38M |
| Stockholders Equity | 669.91M | 655.95M | 598.77M | 597.54M | 568.62M |
Cash Flow | |||||
| Free Cash Flow | 129.83M | 160.32M | 20.05M | -79.26M | -293.61M |
| Operating Cash Flow | 140.00M | 194.63M | 80.55M | -32.35M | -48.34M |
| Investing Cash Flow | -103.92M | -114.96M | -61.01M | -49.27M | -245.90M |
| Financing Cash Flow | -6.46M | -57.73M | -23.00M | 45.56M | 309.25M |
Haypp Group AB Technical Analysis
Negative
123.00
Price Trends
121.40
Negative
131.77
Negative
142.63
Negative
Market Momentum
-0.39
Positive
45.92
Neutral
12.87
Positive
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 123.93, above the 50-day MA of 121.40, and below the 200-day MA of 142.63, indicating a bearish trend. The MACD of -0.39 indicates Positive momentum. The RSI at 45.92 is Neutral, neither overbought nor oversold. The STOCH value of 12.87 is Positive, 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
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
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