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H&M Overview
About H&M
Hennes & Mauritz is a global multibrand fashion conglomerate that was founded in 1947. Its flagship H&M brand accounts for most of the revenue, but the newer brands (COS, &Other Stories, Monki, Weekday, and Arket) are growing a bit faster. H&M commands low-single-digit market share in a fragmented global apparel market. Around 66% of revenue is generated in Europe and Africa, 12% in Asia and Oceania, and 22% in North and South America. The company operates around 4,200 stores globally, of which the bulk are H&M brand stores.
Founded
1947
HQ
Employees
97.7K
Website
Sectors
Financials (LTM)
EV
$36B
H&M Financials
H&M reported last 12-month revenue of $25B and EBITDA of $4B.
In the same LTM period, H&M generated $13B in gross profit, $4B in EBITDA, and $1B in net income.
Revenue (LTM)
H&M P&L
In the most recent fiscal year, H&M reported revenue of $26B and EBITDA of $4B.
H&M expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $25B | XXX | $26B | XXX | XXX | XXX |
| Gross Profit | $13B | XXX | $13B | XXX | XXX | XXX |
| Gross Margin | 54% | XXX | 51% | XXX | XXX | XXX |
| EBITDA | $4B | XXX | $4B | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | 17% | XXX | XXX | XXX |
| EBIT Margin | 8% | XXX | 8% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 6% | XXX | 5% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
H&M Stock Performance
H&M has current market cap of $30B, and enterprise value of $36B.
Market Cap Evolution
H&M's stock price is $18.48.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $36B | $30B | 1.1% | XXX | XXX | XXX | $0.86 |
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Start Free TrialH&M Valuation Multiples
H&M trades at 1.4x EV/Revenue multiple, and 8.1x EV/EBITDA.
EV / Revenue (LTM)
H&M Financial Valuation Multiples
As of April 29, 2026, H&M has market cap of $30B and EV of $36B.
Equity research analysts estimate H&M's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
H&M has a P/E ratio of 21.1x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $30B | XXX | $30B | XXX | XXX | XXX |
| EV (current) | $36B | XXX | $36B | XXX | XXX | XXX |
| EV/Revenue | 1.4x | XXX | 1.4x | XXX | XXX | XXX |
| EV/EBITDA | 8.1x | XXX | 8.0x | XXX | XXX | XXX |
| EV/EBIT | 17.0x | XXX | 17.2x | XXX | XXX | XXX |
| EV/Gross Profit | 2.7x | XXX | 2.7x | XXX | XXX | XXX |
| P/E | 21.1x | XXX | 21.5x | XXX | XXX | XXX |
| EV/FCF | 21.0x | XXX | 16.1x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified H&M Valuation Multiples
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H&M Margins & Growth Rates
H&M's revenue in the last fiscal year declined by (7%).
H&M's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.
H&M's rule of 40 is 16% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
H&M's rule of X is 11% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
H&M Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | — | XXX | (7%) | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | 17% | XXX | XXX | XXX |
| EBITDA Growth | — | XXX | (1%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 16% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 11% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 41% | XXX | 41% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 5% | XXX | 5% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 0% | XXX | 0% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 44% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
H&M Public Comps
See public comps and valuation multiples for other Clothing & Accessories comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| H&M | XXX | XXX | XXX | XXX | XXX | XXX |
| Tapestry | XXX | XXX | XXX | XXX | XXX | XXX |
| ANTA | XXX | XXX | XXX | XXX | XXX | XXX |
| adidas | XXX | XXX | XXX | XXX | XXX | XXX |
| Kering | XXX | XXX | XXX | XXX | XXX | XXX |
| Ralph Lauren | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
H&M M&A Activity
H&M acquired XXX companies to date.
Last acquisition by H&M was on XXXXXXXX, XXXXX. H&M acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by H&M
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialH&M Investment Activity
H&M invested in XXX companies to date.
H&M made its latest investment on XXXXXXXX, XXXXX. H&M invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by H&M
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout H&M
| When was H&M founded? | H&M was founded in 1947. |
| Where is H&M headquartered? | H&M is headquartered in Sweden. |
| How many employees does H&M have? | As of today, H&M has over 97K employees. |
| Is H&M publicly listed? | Yes, H&M is a public company listed on Nasdaq Stockholm. |
| What is the stock symbol of H&M? | H&M trades under HM B ticker. |
| When did H&M go public? | H&M went public in 1979. |
| Who are competitors of H&M? | H&M main competitors are Tapestry, ANTA, adidas, Kering. |
| What is the current market cap of H&M? | H&M's current market cap is $30B. |
| What is the current revenue of H&M? | H&M's last 12 months revenue is $25B. |
| What is the current revenue growth of H&M? | H&M revenue growth (vs. last FY) is (7%). |
| What is the current EV/Revenue multiple of H&M? | Current revenue multiple of H&M is 1.4x. |
| Is H&M profitable? | Yes, H&M is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of H&M? | H&M's last 12 months EBITDA is $4B. |
| What is H&M's EBITDA margin? | H&M's last 12 months EBITDA margin is 18%. |
| What is the current EV/EBITDA multiple of H&M? | Current EBITDA multiple of H&M is 8.1x. |
| What is the current FCF of H&M? | H&M's last 12 months FCF is $2B. |
| What is H&M's FCF margin? | H&M's last 12 months FCF margin is 7%. |
| What is the current EV/FCF multiple of H&M? | Current FCF multiple of H&M is 21.0x. |
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