Hemnet Group AB (HEM) AI Stock Analysis

• Market Cap: kr10.72B
• Dividend Yield: 0.99%
• Average Volume (3M): 260.17K
• Price to Earnings (P/E): 20.7
• Beta (1Y): -0.04
• Revenue Growth: 18.18%
• EPS Growth: 19.59%
• Country: SE
• Employees: 156
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): 1.07
• Shares Outstanding: 90,508,990
• 10 Day Avg. Volume: 232,722
• 30 Day Avg. Volume: 260,167
• PEG Ratio: 2.96
• Price to Book (P/B): 15.19
• Price to Sales (P/S): 10.67
• P/FCF Ratio: 27.34
• 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: kr182.00
• Price Target Upside: 58.95% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 7
• EPS Forecast (FY): 6.68
• Revenue Forecast (FY): kr1.73B

• Rating: 65 Neutral
• Price Target: kr123.00 ▲(7.42% Upside)
• Action: Reiterated Date: 01/31/26
• Date: Action: Reiterated 01/31/26

The score is primarily supported by strong multi-year profitability and high-quality cash generation. It is held back by weak technicals (price below key moving averages with negative MACD) and a mixed fundamental outlook driven by the 2025 revenue dip and a less favorable balance-sheet trend (higher debt and lower equity). Valuation is moderate-to-premium with only a modest dividend yield.

Positive Factors

Cash generation

Hemnet's operating cash flow and free cash flow historically track net income very closely and cover net income comfortably. Durable, high-quality cash generation supports reinvestment, dividend capacity, and debt servicing, providing resilience through cycles and funding strategic initiatives.

Profitability

The company has delivered materially higher net income versus 2020 and maintains strong operating margins, reflecting operating leverage in its marketplace model. Sustainable profitability underpins return on capital and funds growth initiatives, making earnings a reliable long-term cash source.

Marketplace network effects

Hemnet's platform benefits from durable network effects: strong consumer traffic attracts agent listings and paid upgrades, which in turn sustains inventory and advertiser interest. This supply-side monetization model creates high retention and structural competitive advantage over time.

Negative Factors

Top-line softness (2025)

A revenue dip in 2025 signals potential market saturation or near-term demand weakness. Persistent top-line softness would limit reinvestment capacity, put pressure on operating leverage and margins, and reduce the runway for strategic initiatives if growth does not recover.

Weakened balance sheet

Rising debt alongside falling equity reduces financial flexibility and increases leverage risk. Higher absolute debt levels can raise interest-service burdens and constrain capital allocation, limiting the company's ability to invest, pursue M&A, or absorb shocks during slower growth periods.

Cashflow and margin volatility

Volatility in free cash flow and inconsistent profit margins weaken predictability of cash available for dividends, buybacks, or reinvestment. A negative FCF move in 2025 highlights sensitivity to operational swings, which raises execution risk and complicates multi-quarter planning.

Hemnet Group AB Business Overview & Revenue Model

Company Description

Hemnet Group AB (publ) operates a property platform. Its platform gathers various property buyers, sellers, and real estate agents in one place. The company was founded in 1998 and is based in Stockholm, Sweden.

How the Company Makes Money

Hemnet Group AB generates revenue primarily through advertising and subscription fees. The company charges real estate agents and property developers for premium listings and advertising space on its platform, allowing them to showcase properties to a broader audience. Additionally, Hemnet offers subscription services for real estate agencies, which provide enhanced visibility and marketing tools. The company also benefits from partnerships with various stakeholders in the real estate market, including financial institutions and property developers, which can contribute to additional revenue opportunities through co-marketing initiatives and data sharing agreements.

Hemnet Group AB Financial Statement Overview

Summary

Strong profitability and cash generation support a high score: earnings expanded materially versus 2020 and free cash flow tracks net income closely with operating cash flow covering net income comfortably. Offsetting this, 2025 showed a slight revenue decline and the balance sheet trend weakened with higher debt and lower equity, which raises flexibility risk if softer growth persists.

Income Statement

Revenue scaled strongly from 2020–2024, but 2025 showed a slight decline (about -1.0%), indicating some near-term top-line softness. Profitability is a clear strength: EBIT and EBITDA are high versus revenue across the period, and net income has expanded materially versus 2020 levels. A watch-out is the inconsistency in profit margins year-to-year (and unusually high gross profit versus revenue in some years), which reduces confidence in margin stability despite the strong earnings profile.

Balance Sheet

Leverage is moderate overall, with debt-to-equity around ~0.19–0.43 in 2021–2024, supporting a generally healthy capital structure. However, total debt increased into 2025 (to 633.0M) while equity declined versus prior years, implying weakening balance-sheet cushion. Returns on equity were strong in 2022–2024 (~20%–27%), but the combination of higher debt and lower equity in the latest period raises financial flexibility risk if growth remains soft.

Cash Flow

Cash generation is a standout: operating cash flow and free cash flow are consistently strong, with free cash flow closely tracking net income (roughly ~0.90–0.97 in 2021–2024), suggesting high earnings quality. Operating cash flow also covers net income comfortably (about ~2.0–2.9x in 2021–2024). The key weakness is volatility in free cash flow growth, including a decline in 2025 (-7.5%) after strong growth in 2024, which points to more variable cash momentum recently.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.53B	1.39B	1.00B	889.20M	728.10M
Gross Profit	674.10M	1.41B	848.10M	899.20M	732.70M
EBITDA	767.50M	723.20M	521.10M	442.40M	296.40M
Net Income	520.60M	338.70M	338.70M	293.80M	156.50M
Balance Sheet
Total Assets	2.10B	2.19B	2.16B	2.09B	2.13B
Cash, Cash Equivalents and Short-Term Investments	103.30M	111.70M	102.60M	100.40M	94.50M
Total Debt	633.00M	503.60M	540.70M	328.50M	283.10M
Total Liabilities	1.03B	945.20M	896.40M	661.90M	616.60M
Stockholders Equity	1.07B	1.25B	1.26B	1.43B	1.52B
Cash Flow
Free Cash Flow	595.90M	543.40M	357.10M	340.50M	228.00M
Operating Cash Flow	598.10M	566.90M	395.90M	356.00M	235.00M
Investing Cash Flow	-25.70M	-23.50M	-38.80M	-15.50M	17.70M
Financing Cash Flow	-580.80M	-534.30M	-354.90M	-334.60M	-405.30M

Hemnet Group AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 114.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

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 114.5 is below the 20-day moving average (MA) of 127.44, below the 50-day MA of 148.50, and below the 200-day MA of 225.99, indicating a bearish trend. The MACD of -10.13 indicates Positive momentum. The RSI at 26.85 is Positive, neither overbought nor oversold. The STOCH value of 10.22 is Positive, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IVSO	75 Outperform	kr14.41B	66.06	21.88%	0.87%	5.69%	4.82%
ENRO	70 Outperform	kr380.54M	7.70	23.97%	―	-0.21%	33.33%
HEM	65 Neutral	kr10.72B	20.69	46.90%	0.99%	18.18%	19.59%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
TRAD	56 Neutral	kr430.37M	415.38	4.37%	―	6.67%	-7.93%
CINT	52 Neutral	kr1.18B	-0.62	1.00%	―	-21.66%	―
ACAST	52 Neutral	€4.36B	-37.15	-3.84%	―	26.82%	76.68%

Hemnet Group AB Corporate Events

Hemnet Increases Treasury Holding Through Ongoing Share Buybacks

Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 16 and 20 February 2026 through Carnegie Investment Bank acting as its agent. Following these transactions, the company now holds 2,537,718 of its own shares out of a total 95,565,564 shares outstanding, modestly increasing its treasury position.

The latest round of buybacks signals ongoing capital management efforts that can support earnings per share and provide flexibility for future use of treasury shares. For investors, the move underlines management’s willingness to return capital and may be interpreted as a sign of confidence in Hemnet’s valuation and long‑term prospects, although the overall impact on ownership structure remains limited given the small proportion of repurchased shares.

The most recent analyst rating on (SE:HEM) stock is a Hold with a SEK127.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet sets 3 June 2026 for investor-focused Capital Markets Day

Hemnet Group AB, the Nasdaq Stockholm-listed operator of Sweden’s leading property platform, connects home buyers, sellers and agents through a portfolio of digital products, market insights and housing inspiration. Originating as an industry initiative in 1998, it now acts as an independent focal point in the housing market, aiming to streamline property transactions and enhance transparency for its users.

The company has scheduled a Capital Markets Day for 3 June 2026 in Stockholm, hosted by CEO Jonas Gustafsson and the group management team and accessible both on-site and via livestream. A detailed agenda and registration information will follow, signalling Hemnet’s intention to deepen engagement with institutional investors, analysts and media as it outlines its strategic direction and market priorities.

The most recent analyst rating on (SE:HEM) stock is a Hold with a SEK131.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet Increases Treasury Stock Through Continued Share Buybacks

Hemnet Group AB has continued its share buyback programme, repurchasing ordinary shares on Nasdaq Stockholm between 9 and 13 February 2026 through Carnegie Investment Bank acting as its agent. Following these transactions, the company now holds 2,437,718 of its own shares out of a total 95,565,564 shares outstanding, marginally increasing its treasury stock position.

The incremental buybacks signal ongoing capital management efforts that can support earnings per share and offer flexibility for future uses such as employee incentive programmes or potential cancellations. For shareholders, the continued repurchases may be interpreted as a sign of confidence from the board in Hemnet’s financial position and long-term prospects, although the overall impact on the free float and ownership structure remains limited at this stage.

The most recent analyst rating on (SE:HEM) stock is a Hold with a SEK138.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet lifts treasury stake with continued share buybacks on Nasdaq Stockholm

Hemnet Group AB continued its share buyback programme between 2 and 6 February 2026, repurchasing ordinary shares on Nasdaq Stockholm through Carnegie Investment Bank acting as its agent. The transactions, carried out at prices mostly in the mid-130 to low-140 SEK range, raised Hemnet’s treasury shareholding to 2,337,718 out of a total 95,565,564 shares, modestly increasing the proportion of capital held in treasury and signalling ongoing capital return to shareholders.

The expanded treasury position may enhance Hemnet’s financial flexibility for future capital allocation decisions, including potential use of the shares for incentive plans or balance-sheet optimisation. For investors, the continued buybacks underline management’s willingness to deploy surplus cash into the stock, which can support earnings per share over time by reducing the effective free float if the programme is sustained.

The most recent analyst rating on (SE:HEM) stock is a Sell with a SEK140.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet Increases Treasury Stock Through Late-January Share Buybacks

Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 26 and 30 January 2026 through Carnegie Investment Bank acting on its behalf. Following these transactions, the company holds 2,252,718 treasury shares out of a total 95,565,564 shares outstanding, a move that marginally reduces the free float and can signal management’s confidence in the company’s valuation while potentially enhancing earnings per share for remaining shareholders.

The most recent analyst rating on (SE:HEM) stock is a Hold with a SEK190.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet Delivers Resilient 2025 Earnings and Ups Dividend as It Bets on New Services and AI to Drive Market Mobility

Hemnet reported resilient full-year 2025 results despite a weak housing market, with net sales rising 9.5% to SEK 1.53 billion and EBITDA up 6.6% to SEK 767.5 million, driven by a 28% increase in average revenue per published listing as more sellers upgraded to value-added services. Fourth-quarter figures were softer due to a 26% drop in new listings, but strong ARPL growth partly offset the volume decline, and the board proposed raising the dividend to SEK 1.90 per share, underscoring confidence in cash generation. The company is pushing strategic initiatives to unlock market mobility, including a “sell first, pay later” payment option following a successful pilot, expanded brokerage partnerships across 60 chains, new data tools for agents, and AI-driven platform enhancements, all designed to deepen its role as the engine of Sweden’s property market as regulatory easing and improving sentiment begin to lift demand.

The most recent analyst rating on (SE:HEM) stock is a Buy with a SEK153.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet Increases Treasury Share Holding Through Continued Buybacks

Hemnet Group AB has continued its share buyback programme, repurchasing ordinary shares on Nasdaq Stockholm between 19 and 23 January 2026 through Carnegie Investment Bank acting on its behalf. Following these transactions, the company holds 2,172,718 of its own shares out of a total 95,565,564 outstanding, a move that marginally reduces the free float and can be interpreted as an effort to optimise its capital structure and return value to shareholders.

The most recent analyst rating on (SE:HEM) stock is a Buy with a SEK162.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet to Unveil Year-End 2025 Results in Extended Strategy-Focused Presentation

Hemnet Group AB will release its fourth-quarter and full-year 2025 results on 29 January at 08:00 CET, followed by an expanded two-hour English-language presentation at 10:00 CET featuring CEO Jonas Gustafsson, CFO Anders Örnulf and COO Lisa Farrar. In addition to reviewing financial performance, management will provide an update on Hemnet’s strategic and commercial priorities, underlining the platform’s efforts to refine its positioning and product offering in the Swedish housing market; investors and other stakeholders can follow the event via livestream or teleconference, with accompanying materials published on the company’s website.

The most recent analyst rating on (SE:HEM) stock is a Hold with a SEK205.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet Continues Share Buybacks on Nasdaq Stockholm

Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 12 and 16 January 2026 through Carnegie Investment Bank acting on its behalf. Following these transactions, the company holds 2,082,718 of its own shares out of a total of 95,565,564 shares outstanding, a move that may signal confidence in its valuation and slightly increase the ownership stake of remaining shareholders.

The most recent analyst rating on (SE:HEM) stock is a Hold with a SEK205.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet Increases Treasury Stock Through Continued Share Buybacks

Hemnet Group AB has continued its share buyback programme, repurchasing additional ordinary shares on Nasdaq Stockholm between 22 December 2025 and 2 January 2026 through Carnegie Investment Bank acting on its behalf. Following these transactions, the company holds 1,952,718 of its own ordinary shares out of a total 95,565,564 shares outstanding, modestly increasing its treasury position and potentially enhancing earnings per share as well as signalling confidence in its valuation to investors.

The most recent analyst rating on (SE:HEM) stock is a Hold with a SEK179.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet Increases Treasury Shareholding Through Late-December Buybacks

Hemnet Group AB has continued its share buyback programme, repurchasing its own ordinary shares on Nasdaq Stockholm between 22 and 26 December 2025 through Carnegie Investment Bank acting as its agent. Following these transactions, the company holds 1,907,718 of its own shares out of a total 95,565,564 outstanding shares, a move that slightly reduces the free float and can be interpreted as capital management aimed at optimising the balance sheet and potentially enhancing long-term shareholder value.

The most recent analyst rating on (SE:HEM) stock is a Hold with a SEK179.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet Increases Treasury Stock Through December Share Buybacks

During 15–19 December 2025, Hemnet Group AB repurchased its own ordinary shares on Nasdaq Stockholm, with Carnegie Investment Bank executing the transactions on the company’s behalf. Following these buybacks, Hemnet holds 1,877,718 of its own shares out of a total 95,565,564 outstanding, signaling continued use of share repurchases as a tool for balance-sheet optimization and potential enhancement of shareholder value through a reduced free float.

The most recent analyst rating on (SE:HEM) stock is a Hold with a SEK179.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.

Hemnet Enhances Early Home Sales Process with New Initiatives

Hemnet Group AB has launched two strategic initiatives to enhance its role in the early stages of the home sales process. The ‘Sell first, pay later’ model aims to lower the threshold for early home publication, while new strategic partnerships with real estate agents are set to improve market transparency and efficiency. These initiatives respond to evolving market dynamics and consumer behaviors, aiming to provide better value for sellers, buyers, and agents.

The most recent analyst rating on (SE:HEM) stock is a Sell with a SEK159.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.