Haypp Group (OM:HAYPP) - Share price, News & Analysis

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

HAYPP (SEK21.7) is trading below our estimate of [[fair value]] (SEK175.71)

HAYPP fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	4/6
Past Performance	0/6
Financial Health	3/6
Dividends	0/6

HAYPP Stock Overview

Haypp Group AB (publ) operates as an online retailer of tobacco-free nicotine pouches and snus products in Sweden, Norway, rest of Europe, and the United State.

Rewards

Trading at 87.7% below our estimate of its fair value

Earnings are forecast to grow 150.17% per year

Risk Analysis

Has less than 1 year of cash runway

Volatile share price over the past 3 months

Does not have a meaningful market cap (SEK631M)

Haypp Group Competitors

Urb-it

OM:URBIT

kr670.6m

Rugvista Group

OM:RUG

kr931.2m

Footway Group

OM:FOOT B

kr390.7m

Pierce Group

OM:PIERCE

kr352.0m

Price History & Performance

Summary of all time highs, changes and price drops for Haypp Group
Historical stock prices
Current Share Price	kr21.70
52 Week High	kr67.77
52 Week Low	kr21.30
Beta	0
1 Month Change	-26.44%
3 Month Change	-40.95%
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-67.12%

Recent News & Updates

Feb 26

Haypp Group AB (publ) (STO:HAYPP) Just Reported Earnings, And Analysts Cut Their Target Price

It's been a mediocre week for Haypp Group AB (publ) ( STO:HAYPP ) shareholders, with the stock dropping 14% to kr32.75...

Shareholder Returns

	HAYPP	SE Online Retail	SE Market
7D	-7.7%	-4.6%	-3.0%
1Y	n/a	-72.6%	-24.9%

Return vs Industry: Insufficient data to determine how HAYPP performed against the Swedish Online Retail industry.

Return vs Market: Insufficient data to determine how HAYPP performed against the Swedish Market.

Price Volatility

Is HAYPP's price volatile compared to industry and market?
HAYPP volatility
HAYPP Average Weekly Movement	11.6%
Online Retail Industry Average Movement	10.0%
Market Average Movement	7.4%
10% most volatile stocks in SE Market	12.5%
10% least volatile stocks in SE Market	4.7%

Stable Share Price: HAYPP is more volatile than 75% of Swedish stocks over the past 3 months, typically moving +/- 12% a week.

Volatility Over Time: HAYPP's weekly volatility (12%) has been stable over the past year, but is still higher than 75% of Swedish stocks.

About the Company

Founded	Employees	CEO	Website
2009	128	Gavin O'Dowd	https://hayppgroup.com

Haypp Group AB (publ) operates as an online retailer of tobacco-free nicotine pouches and snus products in Sweden, Norway, rest of Europe, and the United State. It offers its products through e-commerce platforms and brands comprising haypp.com, nicokick.com, snushjem.no, snusbolaget.se, snus.com, snusmarkt.ch, northerner.com, snuslageret.no, snusnetto.com, and nettotobak.com. The company was formerly known as Snusbolaget Norden Holding AB and changed its name to Haypp Group AB in September 2019.

Haypp Group Fundamentals Summary

How do Haypp Group's earnings and revenue compare to its market cap?
HAYPP fundamental statistics
Market Cap	kr631.47m
Earnings (TTM)	-kr29.41m
Revenue (TTM)	kr2.37b

0.3x

P/S Ratio

-21.5x

P/E Ratio

Is HAYPP overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
HAYPP income statement (TTM)
Revenue	kr2.37b
Cost of Revenue	kr2.22b
Gross Profit	kr148.01m
Other Expenses	kr177.41m
Earnings	-kr29.41m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 12, 2022

Earnings per share (EPS)	-1.01
Gross Margin	6.26%
Net Profit Margin	-1.24%
Debt/Equity Ratio	2.6%

How did HAYPP perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is HAYPP 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-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales 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 HAYPP?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for HAYPP. This is calculated by dividing HAYPP's market cap by their current preferred multiple.
What is HAYPP's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	kr631.47m

HAYPP 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/Revenue	0.3x
Enterprise Value/EBITDA	266.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does HAYPP's PS Ratio compare to its peers?

HAYPP PS Ratio vs Peers

The above table shows the PS ratio for HAYPP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	4.1x
URBIT Urb-it	14.4x	48.6%	kr670.6m
RUG Rugvista Group	1.4x	15.2%	kr931.2m
FOOT B Footway Group	0.3x	n/a	kr390.7m
PIERCE Pierce Group	0.2x	13.7%	kr352.0m
HAYPP Haypp Group	0.3x	16.4%	kr631.5m

Forward PS

Price-To-Sales vs Peers: HAYPP is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (4.1x).

Price to Earnings Ratio vs Industry

How does HAYPP's PE Ratio compare vs other companies in the SE Online Retail Industry?

Price-To-Sales vs Industry: HAYPP is good value based on its Price-To-Sales Ratio (0.3x) compared to the Swedish Online Retail industry average (0.7x)

Price to Sales Ratio vs Fair Ratio

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

HAYPP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.3x
Fair PS Ratio	0.3x

Price-To-Sales vs Fair Ratio: HAYPP is good value based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (0.3x).

Share Price vs Fair Value

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

Below Fair Value: HAYPP (SEK21.7) is trading below our estimate of fair value (SEK175.71)

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

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate HAYPP's PEG Ratio to determine if it is good value.

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Future Growth

How is Haypp Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

4/6

Future Growth Score 4/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

150.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: HAYPP is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.4%).

Earnings vs Market: HAYPP is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: HAYPP is expected to become profitable in the next 3 years.

Revenue vs Market: HAYPP's revenue (16.4% per year) is forecast to grow faster than the Swedish market (5.5% per year).

High Growth Revenue: HAYPP's revenue (16.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if HAYPP's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Haypp Group performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-18.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HAYPP is currently unprofitable.

Growing Profit Margin: HAYPP is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: HAYPP is unprofitable, and losses have increased over the past 5 years at a rate of 18% per year.

Accelerating Growth: Unable to compare HAYPP's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: HAYPP is unprofitable, making it difficult to compare its past year earnings growth to the Online Retail industry (-22.9%).

Return on Equity

High ROE: HAYPP has a negative Return on Equity (-5.14%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Haypp Group's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: HAYPP's short term assets (SEK343.5M) exceed its short term liabilities (SEK314.7M).

Long Term Liabilities: HAYPP's short term assets (SEK343.5M) exceed its long term liabilities (SEK68.4M).

Debt to Equity History and Analysis

Debt Level: HAYPP has more cash than its total debt.

Reducing Debt: Insufficient data to determine if HAYPP's debt to equity ratio has reduced over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: HAYPP has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if HAYPP has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.

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Dividend

What is Haypp Group current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate HAYPP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate HAYPP's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if HAYPP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if HAYPP's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as HAYPP has not reported any payouts.

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Management

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

3.8yrs

Average management tenure

CEO

Gavin O'Dowd (44 yo)

4.83yrs

Tenure

kr2,051,000

Compensation

Mr. Gavin O'Dowd has been the Chief Executive Officer at Haypp Group AB since September 2017 and also serves as its President. He was the Chairman of the board of directors in Fiedler & Lundgren AB and Bri...

CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Gavin's total compensation is reasonable compared to companies of similar size in the Swedish market.

Compensation vs Earnings: Insufficient data to compare Gavin's compensation with company performance.

Leadership Team

Experienced Management: HAYPP's management team is considered experienced (3.8 years average tenure).

Board Members

Experienced Board: HAYPP's board of directors are considered experienced (4.5 years average tenure).

Ownership

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

Insider Trading Volume

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

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: HAYPP only recently listed within the past 12 months.

Data	Last Updated (UTC time)
Company Analysis	2022/07/04 00:00
End of Day Share Price	2022/07/04 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31