JM AB (publ)

OM:JM Stock Report

Market Cap: SEK 11.2b

JM Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

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 (SEK178.7) is trading above our estimate of fair value (SEK78.58)

Significantly Below Fair Value: JM is trading above our estimate of fair value.

Key Valuation Metric

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

Key metric: As JM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for JM. This is calculated by dividing JM's market cap by their current earnings.
What is JM's PE Ratio?
PE Ratio52.6x
EarningsSEK 219.00m
Market CapSEK 11.24b

Price to Earnings Ratio vs Peers

How does JM's PE Ratio compare to its 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.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average28x
WTW A Wall to Wall Group
24.4x20.8%SEK 877.8m
GHUS B Götenehus Group
14.4xn/aSEK 404.6m
BESQAB Besqab
58.4x73.8%SEK 2.5b
NEWA B New Wave Group
14.8x18.7%SEK 13.3b
JM JM
52.6x58.3%SEK 11.5b

Price-To-Earnings vs Peers: JM is expensive based on its Price-To-Earnings Ratio (52.6x) compared to the peer average (28x).

Price to Earnings Ratio vs Industry

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

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
JM 52.6xIndustry Avg. 12.7xNo. of Companies10PE0816243240+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: JM is expensive based on its Price-To-Earnings Ratio (52.6x) compared to the European Consumer Durables industry average (12.7x).

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 Ratio52.6x
Fair PE Ratio60.5x

Price-To-Earnings vs Fair Ratio: JM is good value based on its Price-To-Earnings Ratio (52.6x) compared to the estimated Fair Price-To-Earnings Ratio (60.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst JM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 178.70
SEK 191.67
+7.3%
21.8%SEK 250.00SEK 155.00n/a3
Nov ’25SEK 182.90
SEK 195.00
+6.6%
20.6%SEK 250.00SEK 155.00n/a3
Oct ’25SEK 202.00
SEK 195.00
-3.5%
20.6%SEK 250.00SEK 155.00n/a3
Sep ’25SEK 201.00
SEK 195.00
-3.0%
20.6%SEK 250.00SEK 155.00n/a3
Aug ’25SEK 204.40
SEK 195.00
-4.6%
20.6%SEK 250.00SEK 155.00n/a3
Jul ’25SEK 200.60
SEK 191.67
-4.5%
21.8%SEK 250.00SEK 155.00n/a3
Jun ’25SEK 202.60
SEK 188.33
-7.0%
23.2%SEK 250.00SEK 155.00n/a3
May ’25SEK 189.40
SEK 188.33
-0.6%
23.2%SEK 250.00SEK 155.00n/a3
Apr ’25SEK 219.00
SEK 188.33
-14.0%
23.2%SEK 250.00SEK 155.00n/a3
Mar ’25SEK 168.10
SEK 145.00
-13.7%
10.3%SEK 160.00SEK 130.00n/a2
Feb ’25SEK 166.90
SEK 125.00
-25.1%
4.0%SEK 130.00SEK 120.00n/a2
Jan ’25SEK 177.50
SEK 110.00
-38.0%
9.1%SEK 120.00SEK 100.00n/a2
Dec ’24SEK 143.60
SEK 110.00
-23.4%
9.1%SEK 120.00SEK 100.00SEK 175.302
Nov ’24SEK 117.00
SEK 130.00
+11.1%
23.1%SEK 160.00SEK 100.00SEK 182.902
Oct ’24SEK 148.30
SEK 147.50
-0.5%
8.5%SEK 160.00SEK 135.00SEK 202.002
Sep ’24SEK 143.10
SEK 147.50
+3.1%
8.5%SEK 160.00SEK 135.00SEK 201.002
Aug ’24SEK 164.20
SEK 147.50
-10.2%
8.5%SEK 160.00SEK 135.00SEK 204.402
Jul ’24SEK 143.70
SEK 155.00
+7.9%
9.7%SEK 170.00SEK 140.00SEK 200.602
Jun ’24SEK 128.20
SEK 162.50
+26.8%
4.6%SEK 170.00SEK 155.00SEK 202.602
May ’24SEK 164.30
SEK 187.50
+14.1%
17.3%SEK 220.00SEK 155.00SEK 189.402
Apr ’24SEK 171.80
SEK 190.00
+10.6%
15.8%SEK 220.00SEK 160.00SEK 219.002

Analyst Forecast: Target price is less than 20% higher than the current share price.

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