BHG Stock Analysis: BHG (publ) | ST

Total Rating 18

Safety 28

Buy Signal -0.13

Internet Retail
Industry Rotation: +3.9

Market Cap: 392M
Avg Turnover: 7.56M

Risk 3d forecast

Volatility38.2%

VaR 5^th Pctl5.85%

VaR vs Median-6.63%

Reward TTM

Sharpe Ratio-0.16

Rel. Str. IBD62.3

Rel. Str. Peer Group30.6 pctl

Character TTM

Beta0.355

Beta Downside-0.341

Hurst Exponent0.533

Choppyness72.8%

Drawdowns 3y

Max DD44.89%

CAGR/Max DD0.79

CAGR/Mean DD2.29

EPS (Earnings per Share)

Last SUE: -0.92
Qual. Beats: -1

Revenue

Rev. CAGR: -3.45%
Rev. Trend: -47.8%

Last SUE: 0.27
Qual. Beats: 0

Warnings

Beneish M-Score Likely Earnings Manipulation

Overextended 1w

Tailwinds

Ep Pivot

Seasonality

Not enough history

Description: BHG BHG (publ)

BHG Group AB (publ) operates as a consumer e-commerce company in Sweden, Finland, Denmark, Norway, rest of Europe, and internationally. It operates in three segments: Home Improvement, Value Home, and Premium Living. The Home Improvement segment operates as a drop shipping model for Do-It-Yourself (DIY) product categories, such as garden, construction, and renovation products. Its Value Home segment offers furniture and leisure products. The Premium Living segment provides furniture, home furnishing, and interior design products. It sells its products under the Bygghemma, Taloon, Golvpoolen, Nordiska Fönster, Outlet1, Hafa, Hylte Jakt & Trädgård, Trademax, Chilli, Furniture 1, Furniturebox, Outlet1, Arc E-Commerce, Trendrum, Hemfint, Nordic Nest, Svenssons, Sleepo, KitchenTime, and Svenssons i Lammhult brands through e-commerce platforms and showrooms. The company was formerly known as Bygghemma Group First AB (publ) and changed its name to BHG Group AB (publ) in May 2020. BHG Group AB (publ) was founded in 2006 and is headquartered in Malmö, Sweden.

Headlines to Watch Out For

Piotroski VR-10 (Strict) 3.5

Net Income: 89.1m TTM > 0 and > 6% of Revenue
FCF/TA: 0.05 > 0.02 and ΔFCF/TA -1.51 > 1.0
NWC/Revenue: 0.81% < 20% (prev 1.01%; Δ -0.20% < -1%)
CFO/TA 0.06 > 3% & CFO 612.1m > Net Income 89.1m
Net Debt (2.12b) to EBITDA (762.4m): 2.78 < 3
Current Ratio: 1.04 > 1.5 & < 3
Outstanding Shares: last quarter (179.6m) vs 12m ago 0.16% < -2%
Gross Margin: 3.71% > 18% (prev 33.35%; Δ -29.64% > 0.5%)
Asset Turnover: 99.33% > 50% (prev 91.94%; Δ 7.39% > 0%)
Interest Coverage Ratio: 2.35 > 6 (EBIT TTM 331.3m / Interest Expense TTM 140.9m)

Altman Z'' 1.33

A: 0.01 (Total Current Assets 2.34b - Total Current Liabilities 2.25b) / Total Assets 10.9b
B: -0.07 (Retained Earnings -715.0m / Total Assets 10.9b)
C: 0.03 (EBIT TTM 331.3m / Avg Total Assets 11.0b)
D: 1.23 (Book Value of Equity 5.89b / Total Liabilities 4.78b)
Altman-Z'' = 1.33 = BB

Beneish M 1.00

DSRI: 0.86 (Receivables 503.9m/550.0m, Revenue 10.9b/10.2b)
GMI: 8.99 (GM 33.35% / 3.71%)
AQI: 1.00 (AQ_t 0.72 / AQ_t-1 0.72)
SGI: 1.07 (Revenue 10.9b / 10.2b)
TATA: -0.05 (NI 89.1m - CFO 612.1m) / TA 10.9b)
Beneish M = 4.14 (Cap -4..+1) = D

What is the price of BHG shares?

As of October 24, 2026, the stock is trading at SEK 25.00 with a total of 2,249,837 shares traded. Over the past week, the price has changed by +27.10%, over one month by +22.55%, over three months by +35.65% and over the past year by -13.85%.

Current recommended Stop Loss: 24.20 (which is 3.2% or 1.3 ATR below the current price).

Is BHG a buy, sell or hold?

BHG (publ) has no consensus analysts rating.

BHG (publ) (BHG) - Fundamental Data Overview as of 24 October 2026

Market Cap USD = 392.0m (3.90b SEK * 0.1006 SEK.USD)
P/E Trailing = 44.3265
P/S = 0.3573
P/B = 0.6216
Revenue TTM = 10.9b SEK
EBIT TTM = 331.3m SEK
EBITDA TTM = 762.4m SEK
Long Term Debt = 1.49b SEK (from longTermDebt, last quarter)
Short Term Debt = 279.2m SEK (from shortTermDebt, last quarter)
Debt = 2.68b SEK (from shortLongTermDebtTotal, last quarter) + Leases 549.0m
Net Debt = 2.12b SEK (calculated: Debt 2.68b - CCE 564.7m)
Enterprise Value = 6.01b SEK (3.90b + Debt 2.68b - CCE 564.7m)
Interest Coverage Ratio = 2.35 (Ebit TTM 331.3m / Interest Expense TTM 140.9m)
EV/FCF = 11.79x (Enterprise Value 6.01b / FCF TTM 510.0m)
FCF Yield = 8.48% (FCF TTM 510.0m / Enterprise Value 6.01b)
FCF Margin = 4.68% (FCF TTM 510.0m / Revenue TTM 10.9b)
Net Margin = 0.82% (Net Income TTM 89.1m / Revenue TTM 10.9b)
Gross Margin = 3.71% ((Revenue TTM 10.9b - Cost of Revenue TTM 10.5b) / Revenue TTM)
Gross Margin QoQ = 24.92% (prev 26.27%)
Tobins Q-Ratio = 0.55 (Enterprise Value 6.01b / Total Assets 10.9b)
Interest Expense / Debt = 5.26% (Interest Expense 140.9m / Debt 2.68b)
Taxrate = 32.99% (73.5m / 222.8m)
NOPAT = 222.0m (EBIT 331.3m * (1 - 32.99%))
Current Ratio = 1.04 (Total Current Assets 2.34b / Total Current Liabilities 2.25b)
Debt / Equity = 0.46 (Debt 2.68b / totalStockholderEquity, last quarter 5.89b)
Debt / EBITDA = 2.78 (Net Debt 2.12b / EBITDA 762.4m)
Debt / FCF = 4.15 (Net Debt 2.12b / FCF TTM 510.0m)
Total Stockholder Equity = 5.86b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.81% (Net Income 89.1m / Total Assets 10.9b)
RoE = 1.52% (Net Income TTM 89.1m / Total Stockholder Equity 5.86b)
RoCE = 4.51% (EBIT 331.3m / Capital Employed (Equity 5.86b + L.T.Debt 1.49b))
RoIC = 2.65% (NOPAT 222.0m / Invested Capital 8.36b)
WACC = 5.49% (E(3.90b)/V(6.58b) * Re(6.84%) + D(2.68b)/V(6.58b) * Rd(5.26%) * (1-Tc(0.33)))
Discount Rate = 6.84% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 74.06 | Cagr: 0.09%
[DCF] Terminal Value 73.10% ; FCFF base≈580.8m ; Y1≈509.3m ; Y5≈411.5m
[DCF] Fair Price = 25.02 (EV 6.60b - Net Debt 2.12b = Equity 4.49b / Shares 179.4m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.92 | # QB: -1
Revenue Correlation: -47.81 | Revenue CAGR: -3.45% | SUE: 0.27 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.23 | Chg30d=-11.76% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=1.46 | Chg30d=-7.62% | Revisions=+25% | GrowthEPS=-9.4% | GrowthRev=+7.0%
EPS next Year (2027-12-31): EPS=2.08 | Chg30d=-0.95% | Revisions=+25% | GrowthEPS=+42.6% | GrowthRev=+7.6%
[Analyst] Revisions Ratio: +17% (up=2, down=1)