J.M. AB (SE:JM)
:JM
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J.M. AB
(JM)
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Rating:42Neutral
Price Target:
kr118.00
▼(-14.12% Downside)
Action:ReiteratedDate:04/24/26
The score is driven primarily by a sharp deterioration in profitability and a collapse in free cash flow, which significantly reduces financial flexibility. Technical indicators are also generally weak (below longer-term moving averages with negative MACD). Valuation further pressures the score due to a high P/E despite only a modest dividend yield.
Positive Factors
Project-based Residential Model
JM’s core project-based model—acquiring land, securing permits, building and selling residential units with common pre-sales—creates repeatable project cashflows and risk transfer via reservations. This structure supports predictable revenue recognition and long-term earnings when projects are executed effectively.
Negative Factors
Margin Compression
A collapse in net margin to ~0.5% TTM from mid-single digits in prior years materially reduces the company’s earnings buffer. Lower margins heighten sensitivity to cost inflation, price pressure or project delays, constraining the firm’s ability to reinvest, sustain dividends, or absorb cyclical downturns over the medium term.
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Positive Factors
Negative Factors
Project-based Residential Model
JM’s core project-based model—acquiring land, securing permits, building and selling residential units with common pre-sales—creates repeatable project cashflows and risk transfer via reservations. This structure supports predictable revenue recognition and long-term earnings when projects are executed effectively.
Read all positive factors
J.M. AB (JM) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr7.31B
Dividend Yield2.38%
Average Volume (3M)243.29K
Price to Earnings (P/E)60.3
Beta (1Y)0.76
Revenue Growth-23.80%
EPS Growth-84.66%
CountrySE
Employees1,860
SectorGeneral
Sector StrengthN/A
IndustryResidential Construction
Share Statistics
EPS (TTM)2.28
Shares Outstanding64,504,840
10 Day Avg. Volume191,924
30 Day Avg. Volume243,286
Financial Highlights & Ratios
PEG Ratio-1.91
Price to Book (P/B)1.13
Price to Sales (P/S)0.84
P/FCF Ratio0.00
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)5.13
Revenue Forecast (FY)kr11.63B
J.M. AB Business Overview & Revenue Model
Company Description
JM AB (publ) develops and sells housing and residential areas in the Nordic region. The company operates in five segments: JM Residential Stockholm, JM Residential Sweden, JM International, JM Property Development, and JM Construction. It also eng...
How the Company Makes Money
JM primarily makes money by developing and selling newly built residential units. The revenue model is project-based: JM acquires or controls land, obtains planning permissions, designs residential projects, manages construction (using internal an...
J.M. AB Financial Statement Overview
Summary
Income Statement
34
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 | 10.51B | 10.69B | 14.27B | 15.97B | 15.75B | 15.65B |
| Gross Profit | 1.11B | 1.26B | 1.63B | 2.76B | 3.14B | 3.21B |
| EBITDA | 302.00M | 342.00M | 904.00M | 1.60B | 2.07B | 2.32B |
| Net Income | 52.00M | 56.00M | 353.00M | 1.03B | 1.50B | 1.80B |
Balance Sheet | ||||||
| Total Assets | 26.30B | 23.71B | 25.16B | 30.07B | 24.38B | 24.39B |
| Cash, Cash Equivalents and Short-Term Investments | 550.00M | 580.00M | 506.00M | 1.67B | 1.84B | 3.98B |
| Total Debt | 12.72B | 10.78B | 11.74B | 16.04B | 8.48B | 8.38B |
| Total Liabilities | 18.28B | 15.78B | 16.99B | 22.10B | 15.66B | 16.01B |
| Stockholders Equity | 8.03B | 7.93B | 8.17B | 7.97B | 8.72B | 8.38B |
Cash Flow | ||||||
| Free Cash Flow | 19.00M | 0.00 | 3.45B | 1.06B | -2.64B | -966.00M |
| Operating Cash Flow | 237.00M | 1.40B | 3.47B | 1.06B | -2.63B | -961.00M |
| Investing Cash Flow | -220.00M | -28.00M | -69.00M | -2.00M | -29.00M | -17.00M |
| Financing Cash Flow | 59.00M | -1.28B | -4.58B | -1.50B | 504.00M | 1.91B |
J.M. AB Technical Analysis
Neutral
137.40
Price Trends
122.83
Negative
129.32
Negative
134.02
Negative
Market Momentum
-0.52
Negative
54.89
Neutral
35.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:JM, the sentiment is Neutral. The current price of 137.4 is above the 20-day moving average (MA) of 115.46, above the 50-day MA of 122.83, and above the 200-day MA of 134.02, indicating a neutral trend. The MACD of -0.52 indicates Negative momentum. The RSI at 54.89 is Neutral, neither overbought nor oversold. The STOCH value of 35.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:JM.
J.M. AB Peers Comparison
UnderperformOutperform
Sector (55)
SE:JM
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113.30
-38.53
-25.38%
SE:BONAV.B
Bonava AB Class B
9.07
-3.77
-29.36%
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.