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JM

JM OM:JM Stock Report

Last Price

kr182.90

Market Cap

kr12.5b

7D

-2.2%

1Y

-39.6%

Updated

28 Jun, 2022

Data

Company Financials +
JM fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance3/6
Financial Health3/6
Dividends5/6

JM Stock Overview

JM AB (publ) develops and sells housing and residential areas in the Nordic region.

JM Competitors

Price History & Performance

Summary of all time highs, changes and price drops for JM
Historical stock prices
Current Share Pricekr182.90
52 Week Highkr421.10
52 Week Lowkr177.80
Beta0.98
1 Month Change-17.02%
3 Month Change-38.62%
1 Year Change-39.56%
3 Year Change-16.02%
5 Year Change-39.01%
Change since IPO1,230.18%

Recent News & Updates

Shareholder Returns

JMSE Consumer DurablesSE Market
7D-2.2%-0.2%1.1%
1Y-39.6%-44.2%-20.9%

Return vs Industry: JM exceeded the Swedish Consumer Durables industry which returned -44.2% over the past year.

Return vs Market: JM underperformed the Swedish Market which returned -20.9% over the past year.

Price Volatility

Is JM's price volatile compared to industry and market?
JM volatility
JM Average Weekly Movement5.1%
Consumer Durables Industry Average Movement6.0%
Market Average Movement7.4%
10% most volatile stocks in SE Market12.2%
10% least volatile stocks in SE Market4.7%

Stable Share Price: JM is less volatile than 75% of Swedish stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: JM's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19452,453Johan Skoglundhttps://www.jm.se

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 engages in the acquisition of development properties; planning, pre-construction, production, management, and sale of residential units; development of rental housing, residential care facilities, and commercial properties; and contract works primarily in the Greater Stockholm area.

JM Fundamentals Summary

How do JM's earnings and revenue compare to its market cap?
JM fundamental statistics
Market Capkr12.46b
Earnings (TTM)kr1.80b
Revenue (TTM)kr15.98b

6.8x

P/E Ratio

0.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
JM income statement (TTM)
Revenuekr15.98b
Cost of Revenuekr12.67b
Gross Profitkr3.32b
Other Expenseskr1.52b
Earningskr1.80b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 12, 2022

Earnings per share (EPS)26.70
Gross Margin20.75%
Net Profit Margin11.27%
Debt/Equity Ratio88.6%

How did JM perform over the long term?

See historical performance and comparison

Dividends

7.4%

Current Dividend Yield

52%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is JM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for JM?

Other financial metrics that can be useful for relative valuation.

JM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1x
Enterprise Value/EBITDA7.5x
PEG Ratio-2.6x

Price to Earnings Ratio vs Peers

How does JM's PE Ratio compare to its peers?

JM PE Ratio vs Peers
The above table shows the PE ratio for JM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average9.4x
BONAV B Bonava
3.7x1.7%kr3.3b
BESQ Besqab
17.2xn/akr1.7b
GHUS B Götenehus Group
10xn/akr304.7m
NOBI Nobia
7x11.8%kr4.9b
JM JM
6.8x-2.6%kr12.3b

Price-To-Earnings vs Peers: JM is good value based on its Price-To-Earnings Ratio (6.8x) compared to the peer average (9.5x).


Price to Earnings Ratio vs Industry

How does JM's PE Ratio compare vs other companies in the European Consumer Durables Industry?

Price-To-Earnings vs Industry: JM is good value based on its Price-To-Earnings Ratio (6.8x) compared to the Swedish Consumer Durables industry average (9.5x)


Price to Earnings Ratio vs Fair Ratio

What is JM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

JM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.8x
Fair PE Ratio13.9x

Price-To-Earnings vs Fair Ratio: JM is good value based on its Price-To-Earnings Ratio (6.8x) compared to the estimated Fair Price-To-Earnings Ratio (13.9x).


Share Price vs Fair Value

What is the Fair Price of JM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: JM (SEK182.9) is trading below our estimate of fair value (SEK467.15)

Significantly Below Fair Value: JM is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: JM's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


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Future Growth

How is JM forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-2.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: JM's earnings are forecast to decline over the next 3 years (-2.6% per year).

Earnings vs Market: JM's earnings are forecast to decline over the next 3 years (-2.6% per year).

High Growth Earnings: JM's earnings are forecast to decline over the next 3 years.

Revenue vs Market: JM's revenue (1.2% per year) is forecast to grow slower than the Swedish market (5.6% per year).

High Growth Revenue: JM's revenue (1.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: JM's Return on Equity is forecast to be low in 3 years time (17.5%).


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Past Performance

How has JM performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-4.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: JM has a high level of non-cash earnings.

Growing Profit Margin: JM's current net profit margins (11.3%) are higher than last year (9.5%).


Past Earnings Growth Analysis

Earnings Trend: JM's earnings have declined by 4.2% per year over the past 5 years.

Accelerating Growth: JM's earnings growth over the past year (19%) exceeds its 5-year average (-4.2% per year).

Earnings vs Industry: JM earnings growth over the past year (19%) underperformed the Consumer Durables industry 22.9%.


Return on Equity

High ROE: JM's Return on Equity (20.8%) is considered high.


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Financial Health

How is JM's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: JM's short term assets (SEK23.8B) exceed its short term liabilities (SEK11.7B).

Long Term Liabilities: JM's short term assets (SEK23.8B) exceed its long term liabilities (SEK4.0B).


Debt to Equity History and Analysis

Debt Level: JM's net debt to equity ratio (41.1%) is considered high.

Reducing Debt: JM's debt to equity ratio has increased from 10.8% to 88.6% over the past 5 years.

Debt Coverage: JM's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: JM's interest payments on its debt are well covered by EBIT (37.4x coverage).


Balance Sheet


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Dividend

What is JM current dividend yield, its reliability and sustainability?

Dividend Score

6/6

Dividend Score 6/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


7.38%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: JM's dividend (7.38%) is higher than the bottom 25% of dividend payers in the Swedish market (1.6%).

High Dividend: JM's dividend (7.38%) is in the top 25% of dividend payers in the Swedish market (5.26%)


Stability and Growth of Payments

Stable Dividend: JM's dividends per share have been stable in the past 10 years.

Growing Dividend: JM's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (51.7%), JM's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: JM is paying a dividend but the company has no free cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

1.6yrs

Average management tenure


CEO

Johan Skoglund (59 yo)

19.58yrs

Tenure

kr6,525,000

Compensation

Mr. Johan Skoglund has been the Chief Executive Officer and President of JM AB (publ) since November 1, 2002. Mr. Skoglund was Director of Castellum AB (publ) since March 25, 2010 until March 19, 2020. He...


Leadership Team

Experienced Management: JM's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

Experienced Board: JM's board of directors are considered experienced (4.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: JM insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

JM AB (publ)'s employee growth, exchange listings and data sources


Key Information

  • Name: JM AB (publ)
  • Ticker: JM
  • Exchange: OM
  • Founded: 1945
  • Industry: Homebuilding
  • Sector: Consumer Durables
  • Implied Market Cap: kr12.458b
  • Shares outstanding: 67.45m
  • Website: https://www.jm.se

Number of Employees


Location

  • JM AB (publ)
  • Gustav III:s Boulevard 64
  • Solna
  • Stockholm County
  • 169 82
  • Sweden

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/28 00:00
End of Day Share Price2022/06/28 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.