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J.M. AB
(JM)
Select Model
Select Model
Rating:46Neutral
Price Target:
kr121.00
▼(-11.94% Downside)
Action:Reiterated
Date:07/11/26
The score is primarily weighed down by weak financial performance—TTM net loss, compressed margins, and negative operating/free cash flow—alongside meaningful leverage for a cyclical homebuilder. Technical indicators are mixed and provide only partial support, while valuation is a key headwind due to the very high P/E and only modest dividend yield.
Positive Factors
Integrated residential development model
JM’s vertically integrated residential model lets it capture value across planning, permitting, construction and sales. Long-term control over project execution reduces coordination risks, preserves margin capture across the value chain, and supports durable project-level profitability.
Negative Factors
Negative operating and free cash flow
A TTM reversal to negative operating and free cash flow materially weakens liquidity and self-funding capacity. Persistent cash burn increases reliance on external financing or asset disposals, heightens execution risk on ongoing projects, and reduces buffer against prolonged downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated residential development model
JM’s vertically integrated residential model lets it capture value across planning, permitting, construction and sales. Long-term control over project execution reduces coordination risks, preserves margin capture across the value chain, and supports durable project-level profitability.
Read all positive factors
J.M. AB (JM) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr7.98B
Dividend Yield2.38%
Average Volume (3M)243.29K
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue Growth-22.33%
EPS Growth-144.62%
CountrySE
Employees1,860
SectorGeneral
Sector StrengthN/A
IndustryResidential Construction
Share Statistics
EPS (TTM)-1.73
Shares Outstanding64,504,840
10 Day Avg. Volume191,924
30 Day Avg. Volume243,286
Financial Highlights & Ratios
PEG Ratio-1.90
Price to Book (P/B)1.13
Price to Sales (P/S)0.84
P/FCF Ratio6.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr131.00Price Target Upside-4.66% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)5.41
Revenue Forecast (FY)kr11.67B
J.M. AB Business Overview & Revenue Model
Company Description
JM AB (publ) is a prominent real estate developer operating across the Nordic region, concentrating on the creation and sale of residential properties and integrated living environments. The company segments its diverse operations into five key di...
How the Company Makes Money
JM primarily makes money by developing residential properties and selling completed housing units (or selling units through pre-sales and then recognizing revenue/profit as projects progress and complete, depending on accounting). The core revenue...
J.M. AB Financial Statement Overview
Summary
Income Statement
33
Negative
Balance Sheet
52
Neutral
Cash Flow
29
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.61B | 10.69B | 14.27B | 15.97B | 15.75B | 15.65B |
| Gross Profit | 939.00M | 1.26B | 1.63B | 2.76B | 3.14B | 3.21B |
| EBITDA | 99.00M | 450.00M | 904.00M | 1.60B | 2.07B | 2.32B |
| Net Income | -112.00M | 56.00M | 353.00M | 1.03B | 1.50B | 1.80B |
Balance Sheet | ||||||
| Total Assets | 27.43B | 23.71B | 25.16B | 30.07B | 24.38B | 24.39B |
| Cash, Cash Equivalents and Short-Term Investments | 996.00M | 580.00M | 506.00M | 1.67B | 1.84B | 3.98B |
| Total Debt | 14.16B | 10.78B | 11.74B | 16.04B | 8.48B | 8.38B |
| Total Liabilities | 19.58B | 15.78B | 16.99B | 22.10B | 15.66B | 16.01B |
| Stockholders Equity | 7.85B | 7.93B | 8.17B | 7.97B | 8.72B | 8.38B |
Cash Flow | ||||||
| Free Cash Flow | -591.00M | 1.38B | 3.45B | 1.06B | -2.64B | -966.00M |
| Operating Cash Flow | -1.05B | 1.40B | 3.47B | 1.06B | -2.63B | -961.00M |
| Investing Cash Flow | -218.00M | -28.00M | -69.00M | -2.00M | -29.00M | -17.00M |
| Financing Cash Flow | 1.98B | -1.28B | -4.58B | -1.50B | 504.00M | 1.91B |
J.M. AB Technical Analysis
Negative
137.40
Price Trends
121.21
Negative
120.83
Negative
128.59
Negative
Market Momentum
3.91
Positive
39.02
Neutral
18.54
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:JM, the sentiment is Negative. The current price of 137.4 is above the 20-day moving average (MA) of 129.22, above the 50-day MA of 121.21, and above the 200-day MA of 128.59, indicating a bearish trend. The MACD of 3.91 indicates Positive momentum. The RSI at 39.02 is Neutral, neither overbought nor oversold. The STOCH value of 18.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:JM.
J.M. AB Peers Comparison
UnderperformOutperform
Sector (55)
SE:JM
J.M. AB
117.40
-23.71
-16.80%
SE:BONAV.B
Bonava AB Class B
9.35
-3.77
-28.73%
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.