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Hemnet Group AB
(HEM)
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Rating:72Outperform
Price Target:
kr102.00
▼(-17.48% Downside)
Action:Reiterated
Date:07/03/26
The score is driven primarily by strong financial quality—exceptional margins and high cash-flow conversion—partly offset by near-term softness (TTM revenue and FCF declines) and rising leverage. Technicals are a notable drag due to the stock trading below key longer-term moving averages and a negative MACD, while valuation is broadly reasonable but supported by only a modest dividend yield.
Positive Factors
High Profitability
Sustained high operating and net margins indicate a highly scalable, low-variable-cost marketplace model. Strong profitability supports reinvestment in product, consistent shareholder returns and resilience in downturns because earnings per listing remain high even if volumes soften.
Negative Factors
Recent Revenue Weakness
A trailing-twelve-month revenue decline points to weaker listing activity or reduced spend on premium products. If sustained, lower volumes or lower add-on attach rates could erode growth potential and force tougher pricing or product pivoting over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained high operating and net margins indicate a highly scalable, low-variable-cost marketplace model. Strong profitability supports reinvestment in product, consistent shareholder returns and resilience in downturns because earnings per listing remain high even if volumes soften.
Read all positive factors
Hemnet Group AB (HEM) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr7.40B
Dividend Yield0.99%
Average Volume (3M)260.17K
Price to Earnings (P/E)16.5
Beta (1Y)0.31
Revenue Growth-1.65%
EPS Growth-7.72%
CountrySE
Employees167
SectorCommunication Services
Sector Strength97
IndustryReal Estate - Development
Share Statistics
EPS (TTM)4.94
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
kr139.40Price Target Upside12.78% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)5.09
Revenue Forecast (FY)kr1.46B
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 monetizing property listings and related exposure products on its marketplace. The core revenue stream is fees paid to publish residential property listings on Hemnet, typically via real-estate agents and/or home se...
Hemnet Group AB Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.45B | 1.53B | 1.39B | 1.00B | 889.20M | 728.10M |
| Gross Profit | 1.36B | 1.10B | 1.41B | 848.10M | 899.20M | 732.70M |
| EBITDA | 699.30M | 767.50M | 723.20M | 521.10M | 442.40M | 296.40M |
| Net Income | 466.00M | 520.60M | 338.70M | 338.70M | 293.80M | 156.50M |
Balance Sheet | ||||||
| Total Assets | 2.09B | 2.10B | 2.19B | 2.16B | 2.09B | 2.13B |
| Cash, Cash Equivalents and Short-Term Investments | 113.80M | 103.30M | 111.70M | 102.60M | 100.40M | 94.50M |
| Total Debt | 726.40M | 619.70M | 503.60M | 540.70M | 328.50M | 283.10M |
| Total Liabilities | 1.12B | 1.03B | 945.20M | 896.40M | 661.90M | 616.60M |
| Stockholders Equity | 965.50M | 1.07B | 1.25B | 1.26B | 1.43B | 1.52B |
Cash Flow | ||||||
| Free Cash Flow | 531.80M | 595.90M | 543.40M | 357.10M | 340.50M | 228.00M |
| Operating Cash Flow | 543.30M | 598.10M | 566.90M | 395.90M | 356.00M | 235.00M |
| Investing Cash Flow | -23.30M | -25.70M | -23.50M | -38.80M | -15.50M | 17.70M |
| Financing Cash Flow | -476.70M | -580.80M | -534.30M | -354.90M | -334.60M | -405.30M |
Hemnet Group AB Technical Analysis
Negative
123.60
Price Trends
91.11
Negative
102.45
Negative
142.88
Negative
Market Momentum
-1.47
Negative
47.67
Neutral
43.51
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 123.6 is above the 20-day moving average (MA) of 77.28, above the 50-day MA of 91.11, and below the 200-day MA of 142.88, indicating a neutral trend. The MACD of -1.47 indicates Negative momentum. The RSI at 47.67 is Neutral, neither overbought nor oversold. The STOCH value of 43.51 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | kr7.40B | 16.52 | 46.90% | 0.99% | -1.65% | -7.72% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | kr7.21B | -2,296.51 | -3.84% | ― | 24.86% | 83.20% | |
60 Neutral | kr9.90B | 44.40 | 21.88% | 0.87% | -0.03% | -25.45% | |
60 Neutral | kr385.92M | 17.44 | 14.76% | ― | ― | -71.25% | |
54 Neutral | kr2.12B | -1.08 | -50.59% | ― | -14.28% | -2243.88% |
* Communication Services Sector Average
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Hemnet Group AB Corporate Events
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...
Hemnet Cushions Q1 Slump With Higher Revenue Per Listing and ‘Sell First, Pay Later’ Push
Apr 28, 2026
Hemnet reported a sharp decline in first-quarter 2026 financials, with net sales down 24.7 percent to SEK 247.2 million and EBITDA down 43.3 percent, hit by fewer listings in a hesitant housing market and a new revenue-recognition model. Despite t...
Hemnet increases treasury shareholding through continued buybacks
Apr 27, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 20 and 24 April 2026 through Carnegie Investment Bank acting as its agent. Following these transactions, the company holds ...
Hemnet to Present Q1 2026 Results and Host Investor Webcast
Apr 21, 2026
Hemnet Group AB will publish its first-quarter 2026 results on April 28 at 08:00 CET, followed by an English-language results presentation at 10:00 CET led by CEO Jonas Gustafsson and CFO Anders Örnulf. Investors and other stakeholders can fo...
Hemnet Increases Treasury Stock Through April Share Buybacks
Apr 20, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing ordinary shares on Nasdaq Stockholm between 13 and 17 April 2026 through Carnegie Investment Bank acting as its broker. After these transactions, the company holds 3,375,768 o...
Hemnet adds to treasury stock through continued share buybacks
Apr 13, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing ordinary shares on Nasdaq Stockholm between 6 and 10 April 2026 through Carnegie Investment Bank acting on its behalf. Following these transactions, the company holds 3,275,76...
Hemnet adds to treasury stock with latest share buybacks
Apr 7, 2026
Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 30 March and 3 April 2026 through Carnegie Investment Bank acting as its broker. Following these transactions, the company ...
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.