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Hemnet Group AB
(HEM)
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Rating:68Neutral
Price Target:
kr104.00
▲(21.71% Upside)
Action:Downgraded
Date:07/18/26
The score is primarily supported by strong profitability and high-quality cash generation, but tempered by deteriorating recent growth and higher leverage risk. Technicals remain mixed-to-weak with the stock below key medium/long-term moving averages and a negative MACD, while valuation is reasonable with a moderate P/E and modest dividend yield.
Positive Factors
High profitability
Very high operating and net margins reflect a capital-light, software-oriented marketplace model with durable pricing power. Such margins create a wide earnings buffer, fund reinvestment or dividends, and support resilience through cyclical downturns in real estate activity.
Negative Factors
Revenue decline
Top-line weakness signals slowing demand or reduced pricing/volume for paid listings. Persistent revenue contraction erodes operating leverage and may force reinvestment in product or marketing to defend position, compressing sustainable earnings growth over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability
Very high operating and net margins reflect a capital-light, software-oriented marketplace model with durable pricing power. Such margins create a wide earnings buffer, fund reinvestment or dividends, and support resilience through cyclical downturns in real estate activity.
Read all positive factors
Hemnet Group AB (HEM) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr7.62B
Dividend Yield1.13%
Average Volume (3M)260.17K
Price to Earnings (P/E)19.9
Beta (1Y)0.32
Revenue Growth-13.85%
EPS Growth-26.51%
CountrySE
Employees184
SectorCommunication Services
Sector Strength97
IndustryReal Estate - Development
Share Statistics
EPS (TTM)4.23
Shares Outstanding87,568,770
10 Day Avg. Volume232,722
30 Day Avg. Volume260,167
Financial Highlights & Ratios
PEG Ratio3.29
Price to Book (P/B)15.19
Price to Sales (P/S)10.67
P/FCF Ratio27.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr109.67Price Target Upside28.34% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)4.79
Revenue Forecast (FY)kr1.40B
Hemnet Group AB Business Overview & Revenue Model
Company Description
Hemnet Group AB (publ) operates a residential property platform in Sweden. The company connects property buyers, sellers, and real estate agents in one platform. The company was founded in 1998 and is headquartered in Stockholm, Sweden....
How the Company Makes Money
Hemnet primarily makes money by selling paid listing and advertising products tied to residential property advertisements on its marketplace. When a home is marketed for sale, the listing can be purchased with different visibility/marketing option...
Hemnet Group AB Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
63
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.33B | 1.53B | 1.39B | 1.00B | 889.20M | 728.10M |
| Gross Profit | 1.12B | 1.54B | 1.41B | 848.10M | 900.70M | 732.70M |
| EBITDA | 610.80M | 767.50M | 723.20M | 528.60M | 442.40M | 296.40M |
| Net Income | 394.30M | 520.60M | 338.70M | 338.70M | 293.80M | 156.50M |
Balance Sheet | ||||||
| Total Assets | 2.11B | 2.10B | 2.19B | 2.16B | 2.09B | 2.13B |
| Cash, Cash Equivalents and Short-Term Investments | 173.80M | 103.30M | 111.70M | 102.60M | 100.40M | 94.50M |
| Total Debt | 863.20M | 619.70M | 503.60M | 540.70M | 328.50M | 283.10M |
| Total Liabilities | 1.27B | 1.03B | 945.20M | 896.40M | 661.90M | 616.60M |
| Stockholders Equity | 844.40M | 1.07B | 1.25B | 1.26B | 1.43B | 1.52B |
Cash Flow | ||||||
| Free Cash Flow | 470.30M | 595.90M | 543.40M | 357.10M | 340.50M | 228.00M |
| Operating Cash Flow | 478.20M | 598.10M | 566.90M | 395.90M | 356.00M | 235.00M |
| Investing Cash Flow | -26.30M | -25.70M | -23.50M | -38.80M | -15.50M | 17.70M |
| Financing Cash Flow | -408.40M | -580.80M | -534.30M | -354.90M | -334.60M | -405.30M |
Hemnet Group AB Technical Analysis
Negative
85.45
Price Trends
84.05
Negative
97.28
Negative
130.98
Negative
Market Momentum
1.04
Negative
48.24
Neutral
26.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:HEM, the sentiment is Negative. The current price of 85.45 is above the 20-day moving average (MA) of 84.85, above the 50-day MA of 84.05, and below the 200-day MA of 130.98, indicating a bearish trend. The MACD of 1.04 indicates Negative momentum. The RSI at 48.24 is Neutral, neither overbought nor oversold. The STOCH value of 26.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:HEM.
Hemnet Group AB Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | kr7.62B | 19.86 | 46.90% | 1.11% | -13.85% | -26.51% | |
68 Neutral | kr9.60B | 38.56 | 21.66% | 1.46% | 12.36% | -2.60% | |
65 Neutral | kr417.88M | 14.35 | 9.27% | ― | 1.90% | -60.00% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
58 Neutral | kr6.84B | 65.47 | 8.74% | ― | 25.22% | ― | |
52 Neutral | kr2.12B | -1.09 | -59.01% | ― | -14.28% | -2243.88% |
* Communication Services Sector Average
SE:HEM
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Hemnet Group AB Corporate Events
Hemnet Expands Treasury Share Holding Through July Buybacks
Jul 27, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing ordinary shares on Nasdaq Stockholm between 20 and 24 July 2026 through Carnegie Investment Bank on its behalf. Following these transactions, the company now holds 2,217,500 o...
Hemnet Forced to Call Extraordinary Meeting After Major Shareholder Request
Jul 24, 2026
Hemnet Group AB has received a formal request from shareholders Vor Capital LLP and Sprints Capital Management Ltd, which together hold 14.1% of the company’s shares and votes, to convene an Extraordinary General Meeting. The requested meeti...
Hemnet Expands Treasury Stock Through July Share Buy-Backs
Jul 20, 2026
Hemnet Group AB has continued its share buy-back programme, repurchasing ordinary shares on Nasdaq Stockholm between 13 July and 17 July 2026 via Carnegie Investment Bank acting on its behalf. Following these transactions, the company now holds 2,...
Hemnet Navigates Earnings Hit as New Listing Model Reshapes Revenue and Market Strategy
Jul 17, 2026
Hemnet reported a sharp year-on-year decline in second-quarter financials as the nationwide rollout of its “Sell first, pay later” listing model reshaped revenue timing amid a sluggish Swedish housing market recovery. Net sales fell 23...
Hemnet Expands Treasury Share Position Through July Buybacks
Jul 13, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing ordinary shares on Nasdaq Stockholm between 6 and 10 July 2026 through Carnegie Investment Bank acting on its behalf. After these transactions, the company holds 1,952,550 of ...
Hemnet to Pair Q2 Results With Strategic AI and Housing Market Update
Jul 10, 2026
Hemnet Group AB will publish its second-quarter 2026 results on July 17 at 08:00 CET and follow up with an extended presentation at 10:00 CET led by CEO Jonas Gustafsson and CFO Anders Örnulf. The session, held in English and available via we...
Competition Authority Drops Abuse-of-Dominance Probe into Hemnet
Jul 9, 2026
The Swedish Competition Authority has closed its investigation into Hemnet over suspected abuse of a dominant position in the digital property advertising market. The probe examined Hemnet’s “Sell first, pay later” payment option...
Hemnet Boosts Treasury Stock Through Ongoing Share Buybacks
Jul 6, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing own ordinary shares on Nasdaq Stockholm during the period 29 June to 3 July 2026 through Carnegie Investment Bank on its behalf. Following these acquisitions, the company hold...
Hemnet expands pre-market reach with new ‘Under-the-radar’ listing service
Jul 6, 2026
Hemnet has launched “Under-the-radar,” a new listing exposure option built for a housing market where more transactions start outside the open marketplace. The feature allows strategic real estate agency and brand partners to surface d...
Hemnet’s Share of Swedish Home Sales Falls to 82% in 2025
Jul 3, 2026
Statistics Sweden reported that 170,415 homes were sold in 2025, up about three percent year-on-year, while Hemnet’s data show that 139,063 of those properties were advertised on its platform at some stage, equal to 82 percent of all sales. ...
Hemnet expands treasury stock through continued share repurchases
Jun 29, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 22 and 26 June 2026 through Carnegie Investment Bank acting on its behalf. Following these transactions, the company holds ...
Hemnet boosts treasury stock with continued share buybacks
Jun 22, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 15 June and 19 June 2026 through Carnegie Investment Bank acting on its behalf. Following these transactions, the company h...
Hemnet appoints seasoned tech finance executive as new CFO
Jun 22, 2026
Hemnet Group AB, the Nasdaq Stockholm-listed operator of Sweden’s leading property platform, has spent more than 25 years building a strong “win-win” proposition for the housing market. Its digital services and data-driven tools ...
Hemnet lifts treasury stake with latest round of share buybacks
Jun 15, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 8 and 12 June 2026 through Carnegie Investment Bank acting as its agent. Following these transactions, the company holds 1,...
Hemnet’s new payment model weighs on May sales as ARPL climbs
Jun 12, 2026
Hemnet reported preliminary May 2026 net sales of SEK 126.6 million, down 27% year-on-year, as listing volumes remained subdued and its new “Sell first, pay later” revenue model shifted income recognition. Average Revenue per Paid List...
Hemnet expands share buyback holdings on Nasdaq Stockholm
Jun 8, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 1 June and 5 June 2026 through Carnegie Investment Bank acting as executing broker. After these transactions, the company h...
Hemnet Expands Treasury Stock Through Late-May Share Buybacks
Jun 1, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing additional ordinary shares on Nasdaq Stockholm between 25 and 29 May 2026 through Carnegie Investment Bank acting on its behalf. Following these transactions, the company now ...
Hemnet Cuts Treasury Shares, Updates Total Share Count After AGM Decision
May 29, 2026
Hemnet Group AB has completed the cancellation of 2,940,218 treasury shares, a move approved at its 8 May 2026 annual general meeting, reducing the overall share count and adjusting its capital structure. Following the cancellation, the company no...
Hemnet boosts capital management with continued share buybacks
May 25, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing ordinary shares on Nasdaq Stockholm between 18 and 22 May 2026 through Carnegie Investment Bank acting as its agent. Following these transactions, the company now holds 1,007,...
Hemnet Increases Treasury Stock with May Share Buybacks
May 18, 2026
Hemnet Group AB repurchased its own ordinary shares on Nasdaq Stockholm between 11 and 15 May 2026, with transactions executed by Carnegie Investment Bank on the company’s behalf. Following these buybacks, Hemnet now holds 3,822,768 of its 9...
Hemnet’s New ‘Sell First, Pay Later’ Model Weighs on Reported April Sales
May 18, 2026
Hemnet reported preliminary April net sales of SEK 116.6 million, down 21% year-on-year, as the company continues rolling out its new ‘Sell first, pay later’ billing model across Sweden’s housing market. Average revenue per paid ...
Hemnet launches major share buy-back to reshape capital structure and fund incentive plan
May 8, 2026
Hemnet Group AB’s board has approved the use of recently granted share buy-back authorisations to adjust the company’s capital structure and support its long-term incentive plans. The move underscores the Swedish property platform̵...
Hemnet AGM backs dividend, board changes and expanded share mandates
May 8, 2026
Hemnet Group AB’s 2026 Annual General Meeting in Stockholm approved the 2025 financial statements and remuneration report, and set a dividend of SEK 1.90 per share to be paid in two equal instalments during 2026. Shareholders re‑electe...
Hemnet Increases Treasury Stake With Ongoing Share Buybacks
May 7, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing additional ordinary shares on Nasdaq Stockholm between 4 and 6 May 2026 through Carnegie Investment Bank acting as its agent. After these transactions, the company holds 3,742...
Hemnet boosts treasury stock through continued share buybacks
May 4, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 27 April and 1 May 2026 through Carnegie Investment Bank acting as broker. Following these transactions, the company holds ...
Hemnet Delays Capital Markets Day, Plans Expanded Strategy Update in July
Apr 30, 2026
Hemnet has postponed its previously scheduled Capital Markets Day, originally planned for June 3, and will instead provide an expanded strategic update alongside its half-year interim report on July 17. The move consolidates investor communication...
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
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.