JM Stock Analysis: JM (publ) | ST
Residential Construction | ST, Sweden | Market Cap: 7.850m SEK | 12M Return: -13.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 32.4M
EPS Trend: -73.8%
Qual. Beats: -1
Rev. Trend: -96.3%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
JM AB (publ) is a Nordic homebuilder that constructs, develops, and sells residential housing across Sweden, Norway, and Finland. The company operates through five business segments: JM Residential Stockholm, JM Residential Sweden, JM Norway, JM Finland, and JM Property Development, covering the full residential value chain from land acquisition and project planning through construction, sales, and after-sale management.
Beyond building and selling homes, JM develops rental units, residential care facilities, and commercial properties, and provides economic, technical, and housing management services to tenant-owner associations. Its property management arm and Greater Stockholm-area contract works give it recurring-service exposure alongside the cyclical development business. JM was founded in 1945 and is headquartered in Solna, Sweden, and is classified within the GICS Consumer Discretionary / Homebuilding sub-industry.
- Riksbank rate cuts boost Swedish housing demand and order book
- Construction cost inflation pressures JM housing gross margins
- Stockholm and Norway residential segments drive Nordic revenue growth
| Net Income: -112.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -15.80 > 1.0 |
| NWC/Revenue: 105.7% < 20% (prev 80.67%; Δ 25.03% < -1%) |
| CFO/TA -0.04 > 3% & CFO -1.05b > Net Income -112.0m |
| Current Ratio: 1.61 > 1.5 & < 3 |
| Outstanding Shares: last quarter (64.5m) vs 12m ago 0.0% < -2% |
| Gross Margin: 9.78% > 18% (prev 12.36%; Δ -2.58% > 0.5%) |
| Asset Turnover: 37.38% > 50% (prev 51.60%; Δ -14.22% > 0%) |
| Interest Coverage Ratio: -0.05 > 6 (EBIT TTM -11.0m / Interest Expense TTM 223.0m) |
| A: 0.37 (Total Current Assets 26.7b - Total Current Liabilities 16.6b) / Total Assets 27.4b |
| B: 0.26 (Retained Earnings 7.14b / Total Assets 27.4b) |
| C: -0.00 (EBIT TTM -11.0m / Avg Total Assets 25.7b) |
| D: 0.40 (Book Value of Equity 7.85b / Total Liabilities 19.6b) |
| Altman-Z'' = 3.69 = AA |
| DSRI: 2.06 (Receivables 2.30b/1.43b, Revenue 9.61b/12.4b) |
| GMI: 1.26 (GM 12.36% / 9.78%) |
| AQI: 0.97 (AQ_t 0.02 / AQ_t-1 0.02) |
| SGI: 0.78 (Revenue 9.61b / 12.4b) |
| TATA: 0.03 (NI -112.0m - CFO -1.05b) / TA 27.4b) |
| Beneish M = -2.09 (Cap -4..+1) = BB |
As of July 29, 2026, the stock is trading at SEK 125.00 with a total of 135,524 shares traded. Over the past week, the price has changed by +2.21%, over one month by -4.14%, over three months by +7.67% and over the past year by -13.41%.
Current recommended Stop Loss: 118.00 (which is 5.6% or 1.6 ATR below the current price).
JM (publ) has no consensus analysts rating.
P/E Forward = 15.1515
P/S = 0.8092
P/B = 1.008
P/EG = 1.5138
Revenue TTM = 9.61b SEK
EBIT TTM = -11.0m SEK
EBITDA TTM = 93.0m SEK
Long Term Debt = 128.0m SEK (from longTermDebt, last fiscal year)
Short Term Debt = 13.2b SEK (from shortTermDebt, last quarter)
Debt = 14.7b SEK (from shortLongTermDebtTotal, last quarter) + Leases 556.0m
Net Debt = 13.7b SEK (calculated: Debt 14.7b - CCE 996.0m)
Enterprise Value = 21.6b SEK (7.85b + Debt 14.7b - CCE 996.0m)
Interest Coverage Ratio = -0.05 (Ebit TTM -11.0m / Interest Expense TTM 223.0m)
EV/FCF = 15.61x (Enterprise Value 21.6b / FCF TTM 1.38b)
FCF Yield = 6.41% (FCF TTM 1.38b / Enterprise Value 21.6b)
FCF Margin = 14.39% (FCF TTM 1.38b / Revenue TTM 9.61b)
Net Margin = -1.17% (Net Income TTM -112.0m / Revenue TTM 9.61b)
Gross Margin = 9.78% ((Revenue TTM 9.61b - Cost of Revenue TTM 8.67b) / Revenue TTM)
Gross Margin QoQ = 9.80% (prev 9.84%)
Tobins Q-Ratio = 0.79 (Enterprise Value 21.6b / Total Assets 27.4b)
Interest Expense / Debt = 1.51% (Interest Expense 223.0m / Debt 14.7b)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = -8.25m (EBIT -11.0m * (1 - 25.00%)) [loss with tax shield]
Current Ratio = 1.61 (Total Current Assets 26.7b / Total Current Liabilities 16.6b)
Debt / Equity = 1.87 (Debt 14.7b / totalStockholderEquity, last quarter 7.85b)
Debt / EBITDA = 147.6 (Net Debt 13.7b / EBITDA 93.0m)
Debt / FCF = 9.93 (Net Debt 13.7b / FCF TTM 1.38b)
Total Stockholder Equity = 7.95b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.44% (Net Income -112.0m / Total Assets 27.4b)
RoE = -1.41% (Net Income TTM -112.0m / Total Stockholder Equity 7.95b)
RoCE = -0.14% (EBIT -11.0m / Capital Employed (Equity 7.95b + L.T.Debt 128.0m))
RoIC = -0.03% (negative operating profit) (NOPAT -8.25m / Invested Capital 23.6b)
WACC = 3.18% (E(7.85b)/V(22.6b) * Re(7.0%) + D(14.7b)/V(22.6b) * Rd(1.51%) * (1-Tc(0.25)))
Discount Rate = 7.0% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 0.0 | Cagr: 0.0%
[DCF] Terminal Value 73.10% ; FCFF base≈2.83b ; Y1≈2.48b ; Y5≈2.00b
[DCF] Fair Price = 285.6 (EV 32.1b - Net Debt 13.7b = Equity 18.4b / Shares 64.5m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -73.81 | EPS CAGR: -53.53% | SUE: -4.0 | # QB: -1
Revenue Correlation: -96.32 | Revenue CAGR: -17.87% | SUE: -0.59 | # QB: 0
EPS current Quarter (2026-09-30): EPS=6.44 | Chg30d=+315.48% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=4.30 | Chg30d=-16.00% | Revisions=+25% | GrowthEPS=+343.6% | GrowthRev=+16.3%
EPS next Year (2027-12-31): EPS=8.74 | Chg30d=-10.99% | Revisions=+25% | GrowthEPS=+103.2% | GrowthRev=+12.7%
[Analyst] Revisions Ratio: +50% (up=3, down=0)