Added to YB: 2026-09-28
Pitch date: 2026-09-23
RMS.PA [bullish]
Hermès International Société en commandite par actions
-0.19%
current return
Author Info
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Company Info
Hermès International Société en commandite par actions engages in the production, wholesale, and retail of various goods.
Market Cap
EUR 141.3B
Pitch Price
EUR 1.4K
Price Target
N/A
Dividend
1.33%
EV/EBITDA
17.59
P/E
31.38
EV/Sales
8.14
Sector
Textiles, Apparel and Luxury Goods
Category
value
Is Hermes “there” yet?
RMS.PA (added to position): The historically small, roughly 120 bp Hermès position is being increased after the shares fell another 15%+ to about €1,350. Despite China and geopolitical headwinds, H1 2026 constant-currency revenue grew 6% and accelerated in Q2. A conservative five-year model produces an 11.5% base-case total-return CAGR, viewed as enticing for Hermès’ risk profile, although France’s increasingly recurring special tax could keep normalized valuation lower than previously assumed.
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