kr184.10
0.05% day before yesterday
Stockholm, Dec 23, 05:29 pm CET
ISIN
SE0000106270
Symbol
HM B

Hennes & Mauritz (H&M) Target price 2025 - Analyst rating & recommendation

Hennes & Mauritz (H&M) Classifications & Recommendation:

Buy
9%
Hold
43%
Sell
49%

Hennes & Mauritz (H&M) Price Target

Target Price kr160.65
Price kr184.10
Deviation
Number of Estimates 29
29 Analysts have issued a price target Hennes & Mauritz (H&M) 2026 . The average Hennes & Mauritz (H&M) target price is kr160.65. This is lower than the current stock price. The highest price target is , the lowest is .
A rating was issued by 35 analysts: 3 Analysts recommend Hennes & Mauritz (H&M) to buy, 15 to hold and 17 to sell.
Analysts don't have a crystal ball either, but they do represent the opinion of the market quite well. You should not take the price potential and the ratings as a recommendation to act. Rather, they serve as an additional building block for your own opinion or stock analysis.
Analyst Estimates: Analysts believe that the Hennes & Mauritz (H&M) stock has an average upside potential 2026 of . Most analysts recommend the Hennes & Mauritz (H&M) stock at Sale.

Sales and Margin forecast 2025, 2026 to 2032

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Quarter Annually
Nov '24 2025
Estimates
Revenue Billion kr 234.48 233.39
0.66% 0.47%
EBITDA Margin 15.92% 17.06%
19.05% 7.16%
Net Margin 4.96% 5.01%
33.66% 1.09%

30 Analysts have issued a sales forecast Hennes & Mauritz (H&M) 2025 . The average Hennes & Mauritz (H&M) sales estimate is

kr233b
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. This is
0.92% higher
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than the revenue of the last 12 months(TTM). The highest sales forecast is
kr243b 5.00%
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, the lowest is
kr222b 3.85%
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.

This results in the following potential growth metrics:

Revenue Estimates

2024 kr234b 0.66%
2025
kr233b 0.47%
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2026
kr237b 1.44%
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2027
kr243b 2.60%
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2028
kr255b 5.16%
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2029
kr262b 2.42%
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2030
kr276b 5.41%
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2031
kr284b 3.08%
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2032
kr292b 2.73%
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29 Analysts have issued an Hennes & Mauritz (H&M) EBITDA forecast 2025. The average Hennes & Mauritz (H&M) EBITDA estimate is

kr39.8b
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. This is
9.21% higher
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than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is
kr42.5b 16.47%
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, the lowest is
kr36.3b 0.53%
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.

This results in the following potential growth metrics and future EBITDA Margins:

EBITDA Estimates

2024 kr37.3b 19.58%
2025
kr39.8b 6.64%
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2026
kr42.0b 5.46%
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2027
kr43.7b 4.02%
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2028
kr44.2b 1.11%
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2029
kr43.5b 1.39%
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2030
kr41.6b 4.55%
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2031
kr42.9b 3.15%
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2032
kr43.9b 2.50%
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EBITDA Margin

2024 15.92% 19.05%
2025
17.06% 7.16%
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2026
17.73% 3.93%
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2027
17.98% 1.41%
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2028
17.28% 3.89%
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2029
16.64% 3.70%
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2030
15.07% 9.44%
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2031
15.08% 0.07%
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2032
15.04% 0.27%
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30 Hennes & Mauritz (H&M) Analysts have issued a net profit forecast 2025. The average Hennes & Mauritz (H&M) net profit estimate is

kr11.7b
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. This is
7.45% higher
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than the net profit for the last 12 months(TTM). The highest net profit forecast is
kr12.6b 15.42%
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, the lowest is
kr9.9b 8.73%
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.

This results in the following potential growth metrics and future Net Margins:

Net Profit Estimates

2024 kr11.6b 32.78%
2025
kr11.7b 0.61%
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2026
kr13.6b 16.55%
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2027
kr15.0b 9.91%
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2028
kr17.0b 13.76%
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2029
kr18.8b 10.39%
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2030
kr21.5b 14.50%
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2031
kr22.3b 3.41%
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2032
kr22.9b 2.64%
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Net Margin

2024 4.96% 33.66%
2025
5.01% 1.09%
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2026
5.76% 14.97%
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2027
6.17% 7.12%
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2028
6.67% 8.10%
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2029
7.19% 7.80%
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2030
7.81% 8.62%
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2031
7.83% 0.26%
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2032
7.83% 0.00%
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Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2032

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Quarter Annually
Nov '24 2025
Estimates
Earnings Per Share kr 7.21 7.29
34.26% 1.11%
P/E 25.25
EV/Sales 1.50

30 Analysts have issued a Hennes & Mauritz (H&M) forecast for earnings per share. The average Hennes & Mauritz (H&M) EPS is

kr7.29
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. This is
7.52% higher
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than earnings per share in the financial year 2024. The highest EPS forecast is
kr7.83 15.49%
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, the lowest is
kr6.19 8.70%
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.

This results in the following potential growth metrics and future valuations:

Earnings Per Share

2024 kr7.21 34.26%
2025
kr7.29 1.11%
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2026
kr8.50 16.60%
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2027
kr9.34 9.88%
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2028
kr10.63 13.81%
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2029
kr11.73 10.35%
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2030
kr13.43 14.49%
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2031
kr13.89 3.43%
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2032
kr14.25 2.59%
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P/E ratio

Current 27.15 29.92%
2025
25.25 7.01%
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2026
21.66 14.22%
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2027
19.71 9.00%
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2028
17.33 12.08%
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2029
15.70 9.41%
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2030
13.71 12.68%
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2031
13.26 3.28%
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2032
12.92 2.56%
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Based on analysts' sales estimates for 2025, the Hennes & Mauritz (H&M) stock is valued at an EV/Sales of

and an P/S ratio of .

This results in the following potential growth metrics and future valuations:

EV/Sales

Current 1.51 29.06%
2025
1.50 0.85%
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2026
1.48 1.42%
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2027
1.44 2.54%
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2028
1.37 4.91%
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2029
1.34 2.36%
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2030
1.27 5.14%
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2031
1.23 2.98%
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2032
1.20 2.66%
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P/S ratio

Current 1.28 40.15%
2025
1.27 0.91%
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2026
1.25 1.42%
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2027
1.22 2.54%
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2028
1.16 4.91%
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2029
1.13 2.36%
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2030
1.07 5.13%
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2031
1.04 2.99%
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2032
1.01 2.67%
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Current Hennes & Mauritz (H&M) Upgrades & Downgrades

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Analyst Rating Action Date
BERENBERG
Locked
Locked
Locked Dec 15 2025
BANCO SANTANDER
Locked
Locked
Locked Dec 08 2025
ROTHSCHILD & CO REDBURN
Locked
Locked
Locked Dec 03 2025
PARETO SECURITIES AS
Locked
Locked
Locked Nov 28 2025
JEFFERIES
Locked
Locked
Locked Nov 23 2025
HANDELSBANKEN CAPITAL MARKETS
Locked
Locked
Locked Nov 14 2025
CRISPIDEA PRIVATE LIMITED
Locked
Locked
Locked Oct 31 2025
Analyst Rating Date
Locked
BERENBERG:
Locked
Locked
Dec 15 2025
Locked
BANCO SANTANDER:
Locked
Locked
Dec 08 2025
Locked
ROTHSCHILD & CO REDBURN:
Locked
Locked
Dec 03 2025
Locked
PARETO SECURITIES AS:
Locked
Locked
Nov 28 2025
Locked
JEFFERIES:
Locked
Locked
Nov 23 2025
Locked
HANDELSBANKEN CAPITAL MARKETS:
Locked
Locked
Nov 14 2025
Locked
CRISPIDEA PRIVATE LIMITED:
Locked
Locked
Oct 31 2025

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