BHG Group AB (publ)

OM:BHG Stock Report

Market Cap: SEK 3.6b

BHG Group Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Gustaf Ohrn

Chief executive officer

SEK 15.7m

Total compensation

CEO salary percentage43.31%
CEO tenure4yrs
CEO ownership0.03%
Management average tenure4yrs
Board average tenure3.4yrs

Recent management updates

Recent updates

Narrative Update • Aug 01

BHG: Disciplined M&A And Margin Assumptions Will Shape Fairly Valued Outlook

Analysts have reduced their price target for BHG Group from SEK 26 to SEK 21 as they adjust fair value expectations, discount rates, and margin assumptions, while keeping long term revenue growth and future P/E inputs broadly in line with prior views. What's in the News for BHG Group BHG Group reports a focus on executing its disciplined M&A strategy, with management highlighting acquisitions that fit within its existing framework.
Analysis Article • Jul 21

BHG Group AB (publ) Just Missed Earnings - But Analysts Have Updated Their Models

It's been a mediocre week for BHG Group AB (publ) ( STO:BHG ) shareholders, with the stock dropping 12% to kr19.53 in...
Narrative Update • Jul 17

BHG: Higher Future P/E And Cash Flow Assumptions Will Support Upside

Analysts have adjusted their BHG Group price target from SEK 35 to about SEK 29.67, citing updated views on fair value, discount rates, revenue growth, profit margins, and future P/E assumptions. What’s in the News for BHG Group No recent BHG Group specific news or key developments were identified in the provided sources.
Narrative Update • Jun 26

None

Analysts have raised their price target on BHG Group from SEK 35 to SEK 40, citing updated assumptions for revenue growth, profit margins and a lower future P/E multiple in their valuation work. What's in the News for BHG Group No recent company specific news headlines for BHG Group were available in the provided sources.
New Narrative • Apr 25

Seasonal And Pricing Pressures Will Challenge Margins Yet Efficiency Gains Should Slowly Improve Prospects

Catalysts About BHG Group BHG Group is an online retailer focused on home improvement, furniture and garden products in Northern Europe. What are the underlying business or industry changes driving this perspective?
Analysis Article • Apr 18

Impressive Earnings May Not Tell The Whole Story For BHG Group (STO:BHG)

Despite posting some strong earnings, the market for BHG Group AB (publ)'s ( STO:BHG ) stock hasn't moved much. We did...
New Narrative • Apr 08

Online Migration And Unique Assortment Will Support Stronger Long Term Performance

Catalysts About BHG Group BHG Group operates online retail platforms focused on home improvement, indoor furnishing, home decoration, bathroom products and garden categories across several European markets. What are the underlying business or industry changes driving this perspective?
Analysis Article • Sep 11

BHG Group AB (publ) (STO:BHG) Shares Could Be 46% Below Their Intrinsic Value Estimate

Key Insights Using the 2 Stage Free Cash Flow to Equity, BHG Group fair value estimate is kr51.41 BHG Group is...
Analysis Article • Sep 11

Further Upside For BHG Group AB (publ) (STO:BHG) Shares Could Introduce Price Risks After 25% Bounce

BHG Group AB (publ) ( STO:BHG ) shareholders would be excited to see that the share price has had a great month...
Analysis Article • May 14

Is BHG Group (STO:BHG) Using Debt Sensibly?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Mar 05

Cautious Investors Not Rewarding BHG Group AB (publ)'s (STO:BHG) Performance Completely

There wouldn't be many who think BHG Group AB (publ)'s ( STO:BHG ) price-to-sales (or "P/S") ratio of 0.4x is worth a...
Analysis Article • Feb 01

kr27.00 - That's What Analysts Think BHG Group AB (publ) (STO:BHG) Is Worth After These Results

Shareholders will be ecstatic, with their stake up 31% over the past week following BHG Group AB (publ) 's ( STO:BHG...
Analysis Article • Oct 28

Revenues Tell The Story For BHG Group AB (publ) (STO:BHG) As Its Stock Soars 28%

BHG Group AB (publ) ( STO:BHG ) shareholders would be excited to see that the share price has had a great month...
Analysis Article • Oct 25

BHG Group (STO:BHG) Is Experiencing Growth In Returns On Capital

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. In a perfect...
Analysis Article • Jul 22

Analysts Are Updating Their BHG Group AB (publ) (STO:BHG) Estimates After Its Second-Quarter Results

Shareholders in BHG Group AB (publ) ( STO:BHG ) had a terrible week, as shares crashed 22% to kr14.76 in the week since...
Analysis Article • Jun 01

BHG Group AB (publ)'s (STO:BHG) 26% Price Boost Is Out Of Tune With Revenues

BHG Group AB (publ) ( STO:BHG ) shares have had a really impressive month, gaining 26% after a shaky period beforehand...
Analysis Article • May 26

A Look At The Fair Value Of BHG Group AB (publ) (STO:BHG)

Key Insights BHG Group's estimated fair value is kr17.49 based on 2 Stage Free Cash Flow to Equity BHG Group's kr16.35...
Analysis Article • May 08

Is BHG Group (STO:BHG) A Risky Investment?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Apr 05

BHG Group AB (publ)'s (STO:BHG) 26% Jump Shows Its Popularity With Investors

BHG Group AB (publ) ( STO:BHG ) shares have continued their recent momentum with a 26% gain in the last month alone...
Analysis Article • Jan 22

Is BHG Group (STO:BHG) Using Debt In A Risky Way?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Jan 04

Some Shareholders Feeling Restless Over BHG Group AB (publ)'s (STO:BHG) P/S Ratio

With a median price-to-sales (or "P/S") ratio of close to 0.4x in the Specialty Retail industry in Sweden, you could be...
Analysis Article • Oct 22

Is BHG Group (STO:BHG) Using Too Much Debt?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analysis Article • Jul 26

When Should You Buy BHG Group AB (publ) (STO:BHG)?

BHG Group AB (publ) ( STO:BHG ), might not be a large cap stock, but it saw a significant share price rise of over 20...
Analysis Article • Jul 07

Returns On Capital Signal Tricky Times Ahead For BHG Group (STO:BHG)

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Analysis Article • Jun 02

Is BHG Group (STO:BHG) A Risky Investment?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Apr 08

BHG Group (STO:BHG) Could Be Struggling To Allocate Capital

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...
Analysis Article • Mar 21

What Is BHG Group AB (publ)'s (STO:BHG) Share Price Doing?

BHG Group AB (publ) ( STO:BHG ), is not the largest company out there, but it received a lot of attention from a...
Analysis Article • Feb 15

Is BHG Group (STO:BHG) Using Too Much Debt?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

CEO Compensation Analysis

How has Gustaf Ohrn's remuneration changed compared to BHG Group's earnings?
DateTotal CompensationSalaryCompany Earnings
Jun 30 2026n/an/a

SEK 89m

Mar 31 2026n/an/a

SEK 109m

Dec 31 2025SEK 16mSEK 7m

SEK 145m

Sep 30 2025n/an/a

-SEK 337m

Jun 30 2025n/an/a

-SEK 415m

Mar 31 2025n/an/a

-SEK 592m

Dec 31 2024SEK 10mSEK 7m

-SEK 679m

Sep 30 2024n/an/a

-SEK 396m

Jun 30 2024n/an/a

-SEK 2b

Mar 31 2024n/an/a

-SEK 2b

Dec 31 2023SEK 16mSEK 6m

-SEK 2b

Sep 30 2023n/an/a

-SEK 2b

Jun 30 2023n/an/a

-SEK 363m

Mar 31 2023n/an/a

-SEK 194m

Dec 31 2022SEK 6mSEK 2m

SEK 34m

Sep 30 2022n/an/a

SEK 324m

Jun 30 2022n/an/a

SEK 472m

Mar 31 2022n/an/a

SEK 478m

Dec 31 2021SEK 500kn/a

SEK 481m

Sep 30 2021n/an/a

SEK 462m

Jun 30 2021n/an/a

SEK 534m

Mar 31 2021n/an/a

SEK 481m

Dec 31 2020SEK 300kn/a

SEK 415m

Compensation vs Market: Gustaf's total compensation ($USD1.65M) is above average for companies of similar size in the Swedish market ($USD710.39K).

Compensation vs Earnings: Gustaf's compensation has been consistent with company performance over the past year.

CEO

Gustaf Ohrn (59 yo)

4yrs
Tenure
SEK 15,700,000
Compensation

Mr. Gustaf Ohrn served as Chairman of the Board at MBRS Group AB (formerly known as We aRe Spin Dye (WRSD) AB (publ)) since 2021 until May 25, 2022. He served as Chairman of the Board of BHG Group AB (publ...

Leadership Team

NamePositionTenureCompensationOwnership
Gustaf Ohrn
CEO & President4yrsSEK 15.70m0.032%
SEK 1.1m
Jesper Flemme
Group Chief Financial Officer6.5yrsno data0.025%
SEK 880.9k
Jakob Nylin
Head of Investor Relationsno datano datano data
Josefine Colliander
Head of Legal1.6yrsno data0.0022%
SEK 80.0k
Martin Edblad
Head of M&A6.5yrsSEK 2.10mno data
Peter Rosvall
Head of New Operationsno datano datano data
Mikael Hagman
Deputy CEO & Head of the Home Improvement Segment3.8yrsno data0.022%
SEK 800.9k
Bank Bergstrom
Head of the Premium Living Segment4.6yrsno data0.084%
SEK 3.0m
Johan Engström
Head of Value Home Segment1.6yrsno data0.022%
SEK 775.1k
Emma Palsson
CEO of Bygghemmano datano datano data
4.0yrs
Average Tenure
47yo
Average Age

Experienced Management: BHG's management team is considered experienced (4 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Kristian Eikre
Director3.6yrsSEK 200.00kno data
Pernille Fabricius
Independent Director2.6yrsno datano data
Marianne Dahl
Directorless than a yearno datano data
Joanna Hummel
Independent Director4.3yrsSEK 600.00k0.012%
SEK 432.0k
Mikael Olander
Independent Director3.3yrsSEK 300.00k4.98%
SEK 178.6m
Christian Bubenheim
Independent Chairman6.3yrsSEK 700.00k0.025%
SEK 884.9k
3.4yrs
Average Tenure
56yo
Average Age

Experienced Board: BHG's board of directors are considered experienced (3.4 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/04 07:00
End of Day Share Price 2026/08/04 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

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

BHG Group AB (publ) is covered by 5 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
null nullABG Sundal Collier
Fredrik IvarssonABG Sundal Collier Sponsored
Erik MobergBerenberg