Hemnet Group AB (publ)

OM:HEM Stock Report

Market Cap: SEK 22.2b

Hemnet Group Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 HEM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

SEK 291.14
Fair Value
23.4% undervalued intrinsic discount
12
Number of Analysts

Below Fair Value: HEM (SEK223) is trading below our estimate of fair value (SEK291.14)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HEM. This is calculated by dividing HEM's market cap by their current earnings.
What is HEM's PE Ratio?
PE Ratio40.5x
EarningsSEK 548.20m
Market CapSEK 22.21b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HEM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average65.9x
KAR Karnov Group
192.2x58.93%SEK 12.1b
BETCO Better Collective
26.8x38.23%SEK 7.4b
PDX Paradox Interactive
27.8x19.91%SEK 18.5b
HACK Hacksaw
16.8x37.61%SEK 19.6b
HEM Hemnet Group
40.5x20.72%SEK 22.2b

Price-To-Earnings vs Peers: HEM is good value based on its Price-To-Earnings Ratio (40.5x) compared to the peer average (65.9x).

Price to Earnings Ratio vs Industry

How does HEM's PE Ratio compare vs other companies in the European Interactive Media and Services Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
HEM 40.5xIndustry Avg. 41.4xNo. of Companies6PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HEM is good value based on its Price-To-Earnings Ratio (40.5x) compared to the European Interactive Media and Services industry average (41.4x).

Price to Earnings Ratio vs Fair Ratio

What is HEM'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.

HEM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio40.5x
Fair PE Ratio26.3x

Price-To-Earnings vs Fair Ratio: HEM is expensive based on its Price-To-Earnings Ratio (40.5x) compared to the estimated Fair Price-To-Earnings Ratio (26.3x).

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 HEM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 223.00
SEK 318.57
+42.86%
21.38%SEK 410.00SEK 220.00n/a12
Sep ’26SEK 238.60
SEK 335.40
+40.57%
19.41%SEK 426.00SEK 227.00n/a12
Aug ’26SEK 278.20
SEK 336.57
+20.98%
19.02%SEK 426.00SEK 227.00n/a12
Jul ’26SEK 279.40
SEK 346.32
+23.95%
20.18%SEK 435.00SEK 225.00n/a11
Jun ’26SEK 303.80
SEK 410.28
+35.05%
8.14%SEK 482.00SEK 370.00n/a9
May ’26SEK 331.00
SEK 411.50
+24.32%
7.25%SEK 473.00SEK 370.00n/a9
Apr ’26SEK 361.00
SEK 426.61
+18.17%
6.19%SEK 482.00SEK 390.00n/a9
Mar ’26SEK 404.00
SEK 421.17
+4.25%
3.91%SEK 450.00SEK 390.00n/a9
Feb ’26SEK 369.40
SEK 410.74
+11.19%
4.46%SEK 435.00SEK 380.00n/a9
Jan ’26SEK 336.00
SEK 408.19
+21.48%
4.99%SEK 430.00SEK 372.00n/a9
Dec ’25SEK 327.00
SEK 410.97
+25.68%
5.67%SEK 445.00SEK 372.00n/a9
Nov ’25SEK 326.80
SEK 413.30
+26.47%
5.37%SEK 445.00SEK 372.00n/a9
Oct ’25SEK 368.00
SEK 432.04
+17.40%
4.56%SEK 458.40SEK 400.00SEK 232.609
Sep ’25SEK 376.00
SEK 432.04
+14.91%
4.56%SEK 458.40SEK 400.00SEK 238.609
Aug ’25SEK 392.60
SEK 432.04
+10.05%
4.56%SEK 458.40SEK 400.00SEK 278.209
Jul ’25SEK 327.00
SEK 351.40
+7.46%
10.73%SEK 420.00SEK 275.00SEK 279.409
Jun ’25SEK 289.20
SEK 350.00
+21.02%
11.27%SEK 420.00SEK 275.00SEK 303.808
May ’25SEK 289.00
SEK 349.13
+20.80%
12.29%SEK 420.00SEK 260.00SEK 331.008
Apr ’25SEK 327.80
SEK 315.29
-3.82%
12.58%SEK 385.00SEK 260.00SEK 361.007
Mar ’25SEK 327.80
SEK 281.71
-14.06%
21.46%SEK 349.00SEK 150.00SEK 404.007
Feb ’25SEK 293.00
SEK 243.43
-16.92%
19.93%SEK 320.00SEK 150.00SEK 369.407
Jan ’25SEK 241.40
SEK 211.86
-12.24%
14.94%SEK 250.00SEK 150.00SEK 336.007
Dec ’24SEK 240.40
SEK 203.00
-15.56%
14.63%SEK 250.00SEK 150.00SEK 327.007
Nov ’24SEK 197.10
SEK 197.14
+0.022%
12.14%SEK 230.00SEK 150.00SEK 326.807
Oct ’24SEK 192.90
SEK 181.86
-5.72%
10.93%SEK 220.00SEK 150.00SEK 368.007
SEK 318.57
Fair Value
30.0% undervalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/05 20:31
End of Day Share Price 2025/10/03 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Hemnet Group AB (publ) is covered by 18 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Fernando Cordero BarreiraBanco Santander
Andrew RossBarclays