JM Stock Analysis: JM (publ) | ST
Residential Construction | ST, Sweden | Market Cap: 9.063m SEK | 12M Return: -13.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 37.2M
EPS Trend: -81.7%
Qual. Beats: 1
Rev. Trend: -94.8%
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: 52.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -15.10 > 1.0 |
| NWC/Revenue: 99.11% < 20% (prev 73.69%; Δ 25.42% < -1%) |
| CFO/TA 0.01 > 3% & CFO 237.0m > Net Income 52.0m |
| Net Debt (12.7b) to EBITDA (294.0m): 43.30 < 3 |
| Current Ratio: 1.69 > 1.5 & < 3 |
| Outstanding Shares: last quarter (64.5m) vs 12m ago 0.0% < -2% |
| Gross Margin: 10.62% > 18% (prev 11.85%; Δ -1.23% > 0.5%) |
| Asset Turnover: 41.35% > 50% (prev 56.25%; Δ -14.90% > 0%) |
| Interest Coverage Ratio: 0.88 > 6 (EBIT TTM 190.0m / Interest Expense TTM 217.0m) |
| A: 0.40 (Total Current Assets 25.6b - Total Current Liabilities 15.2b) / Total Assets 26.3b |
| B: 0.27 (Retained Earnings 7.14b / Total Assets 26.3b) |
| C: 0.01 (EBIT TTM 190.0m / Avg Total Assets 25.4b) |
| D: 0.44 (Book Value of Equity 8.03b / Total Liabilities 18.3b) |
| Altman-Z'' = 3.99 = AA |
| DSRI: 1.90 (Receivables 2.15b/1.48b, Revenue 10.5b/13.8b) |
| GMI: 1.12 (GM 11.85% / 10.62%) |
| AQI: 1.04 (AQ_t 0.02 / AQ_t-1 0.02) |
| SGI: 0.76 (Revenue 10.5b / 13.8b) |
| TATA: -0.01 (NI 52.0m - CFO 237.0m) / TA 26.3b) |
| Beneish M = -2.33 (Cap -4..+1) = BBB |
As of July 15, 2026, the stock is trading at SEK 121.20 with a total of 561,570 shares traded. Over the past week, the price has changed by -16.99%, over one month by +5.12%, over three months by +1.36% and over the past year by -13.45%.
Current recommended Stop Loss: 113.00 (which is 6.8% or 1.5 ATR below the current price).
JM (publ) has no consensus analysts rating.
P/E Trailing = 171.3415
P/E Forward = 15.1515
P/S = 0.8546
P/B = 1.1309
P/EG = 1.5138
Revenue TTM = 10.5b SEK
EBIT TTM = 190.0m SEK
EBITDA TTM = 294.0m SEK
Long Term Debt = 128.0m SEK (from longTermDebt, last fiscal year)
Short Term Debt = 11.8b SEK (from shortTermDebt, last quarter)
Debt = 13.3b SEK (from shortLongTermDebtTotal, last quarter) + Leases 556.0m
Net Debt = 12.7b SEK (calculated: Debt 13.3b - CCE 550.0m)
Enterprise Value = 21.8b SEK (9.06b + Debt 13.3b - CCE 550.0m)
Interest Coverage Ratio = 0.88 (Ebit TTM 190.0m / Interest Expense TTM 217.0m)
EV/FCF = 15.77x (Enterprise Value 21.8b / FCF TTM 1.38b)
FCF Yield = 6.34% (FCF TTM 1.38b / Enterprise Value 21.8b)
FCF Margin = 13.15% (FCF TTM 1.38b / Revenue TTM 10.5b)
Net Margin = 0.49% (Net Income TTM 52.0m / Revenue TTM 10.5b)
Gross Margin = 10.62% ((Revenue TTM 10.5b - Cost of Revenue TTM 9.39b) / Revenue TTM)
Gross Margin QoQ = 9.84% (prev 11.14%)
Tobins Q-Ratio = 0.83 (Enterprise Value 21.8b / Total Assets 26.3b)
Interest Expense / Debt = 1.63% (Interest Expense 217.0m / Debt 13.3b)
Taxrate = 38.37% (33.0m / 86.0m)
NOPAT = 117.1m (EBIT 190.0m * (1 - 38.37%))
Current Ratio = 1.69 (Total Current Assets 25.6b / Total Current Liabilities 15.2b)
Debt / Equity = 1.65 (Debt 13.3b / totalStockholderEquity, last quarter 8.03b)
Debt / EBITDA = 43.30 (Net Debt 12.7b / EBITDA 294.0m)
Debt / FCF = 9.21 (Net Debt 12.7b / FCF TTM 1.38b)
Total Stockholder Equity = 7.99b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.20% (Net Income 52.0m / Total Assets 26.3b)
RoE = 0.65% (Net Income TTM 52.0m / Total Stockholder Equity 7.99b)
RoCE = 2.34% (EBIT 190.0m / Capital Employed (Equity 7.99b + L.T.Debt 128.0m))
RoIC = 0.52% (NOPAT 117.1m / Invested Capital 22.4b)
WACC = 3.49% (E(9.06b)/V(22.3b) * Re(7.14%) + D(13.3b)/V(22.3b) * Rd(1.63%) * (1-Tc(0.38)))
Discount Rate = 7.14% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 0.0 | Cagr: 0.0%
[DCF] Terminal Value 73.10% ; FCFF base≈2.82b ; Y1≈2.48b ; Y5≈2.00b
[DCF] Fair Price = 300.7 (EV 32.1b - Net Debt 12.7b = Equity 19.4b / Shares 64.5m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -81.65 | EPS CAGR: -61.38% | SUE: 2.72 | # QB: 1
Revenue Correlation: -94.77 | Revenue CAGR: -15.95% | SUE: -0.63 | # QB: 0
EPS current Quarter (2026-06-30): EPS=5.41 | Chg30d=+303.73% | Revisions=+0% | Analysts=1
EPS next Quarter (2026-09-30): EPS=6.44 | Chg30d=+315.48% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=5.23 | Chg30d=+2.10% | Revisions=+40% | GrowthEPS=+439.2% | GrowthRev=+17.7%
EPS next Year (2027-12-31): EPS=9.90 | Chg30d=+0.76% | Revisions=-50% | GrowthEPS=+89.2% | GrowthRev=+12.2%
[Analyst] Revisions Ratio: -12% (up=2, down=3)