Added to YB: 2026-07-08
Pitch date: 2026-07-05
HEM.ST [neutral]
Hemnet Group AB (publ)
+14.33%
current return
Author Info
DB_Silver_Fox is a CFO and value investor interested in: European & US hidden champions, simple and effective business models, and US Banks. Sign up for the newsletter.
Company Info
Hemnet Group AB (publ) operates a residential property platform in Sweden. The company connects property buyers, sellers, and real estate agents in one platform.
Market Cap
SEK 7.6B
Pitch Price
SEK 87.90
Price Target
N/A
Dividend
2.26%
EV/EBITDA
14.10
P/E
19.93
EV/Sales
6.21
Sector
Interactive Media and Services
Category
value
$HEM.ST - The Toll Booth Without a Gatekeeper
HEM.ST (watchlist): Swedish residential property listing monopoly (82% share); toll booth where seller pays, agent collects. FY25 rev +9.5% despite listings −13.3% via ARPL +28.1% pricing power, 50.3% EBITDA margin. But Q1'26 sales −25%, margin fell to 36.1%, taking debt for buybacks. Ownerless post-GA exit, no governance lock, cyclical/single-market. IV 57-80 SEK vs 87.9 price; market assumes 40% ROE. Speculative.
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