JM AB (publ)

OM:JM Stock Report

Market Cap: SEK 10.7b

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 (SEK165.5) is trading above our estimate of fair value (SEK79.47)

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 Ratio48.7x
EarningsSEK 219.00m
Market CapSEK 10.68b

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 Average27.6x
WTW A Wall to Wall Group
22.6x20.8%SEK 812.8m
GHUS B Götenehus Group
14.4xn/aSEK 404.6m
BESQAB Besqab
59.4x92.2%SEK 2.5b
NEWA B New Wave Group
13.9x18.7%SEK 12.6b
JM JM
48.7x58.3%SEK 10.7b

Price-To-Earnings vs Peers: JM is expensive based on its Price-To-Earnings Ratio (48.7x) compared to the peer average (27.6x).

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 48.7xIndustry Avg. 13.1xNo. of Companies10PE0816243240+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: JM is expensive based on its Price-To-Earnings Ratio (48.7x) compared to the European Consumer Durables industry average (13.1x).

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 Ratio48.7x
Fair PE Ratio59.9x

Price-To-Earnings vs Fair Ratio: JM is good value based on its Price-To-Earnings Ratio (48.7x) compared to the estimated Fair Price-To-Earnings Ratio (59.9x).

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 165.50
SEK 191.67
+15.8%
21.8%SEK 250.00SEK 155.00n/a3
Dec ’25SEK 175.30
SEK 191.67
+9.3%
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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 08:02
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

JM AB (publ) is covered by 13 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kristofer Liljeberg-SvenssonCarnegie Investment Bank AB
Stefan Erik AnderssonDanske Bank
Hans DerningerDeutsche Bank