2026 Q1 -tulosraportti
31 päivää sitten
‧45 min
13,00 EUR/osake
Viimeisin osinko
1,13%Tuotto/v
Tarjoustasot
Euronext Paris
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Välittäjätilasto
Dataa ei löytynyt
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q2 -tulosraportti 29.7. |
| Menneet tapahtumat | ||
|---|---|---|
Vuosittainen yhtiökokous 2026 17.4. | ||
2026 Q1 -tulosraportti 15.4. | ||
2025 Q4 -tulosraportti 12.2. | ||
2025 Q3 -tulosraportti 22.10.2025 | ||
2025 Q2 -tulosraportti 30.7.2025 |
Asiakkaat katsoivat myös
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
·16.4.Don't several of you forget - that one should not buy a company that is bleeding from the heart, but buy one that has merely encountered external headwinds. - but remember that the market can be irrational longer than your capital can be patient..... So, does the Hermes financial report reflect a crisis that is "self-inflicted" or "environmentally determined"? Yes, there can be no doubt about that. Accounting-technical currency noise and geopolitical headwinds, I would say.... LVMH? Yes, I would say they are closer to "bleeding". With organic growth of only +1% (and falling sales in some divisions). That being said, LVMH is a good company and an interesting case, but I haven't delved into their financial reports recently. The market is "sick" due to the Middle East, tariffs, a crazy president in the USA, oil that is about to send the whole world into stagnation and possible recession....(Europe is already at the start of a stagnation) so headwinds drag even healthy companies down.....good fight and good luck.
·22.4.Interesting point, but I think many miss the point a bit with the Hermès case. This is not a company that "bleeds". This is a company that is being dragged down by macro – while the fundamentals are almost untouched. The difference is important: - Weak demand in China = cyclical - Currency/geopolitics = temporary - Brand, margins, pricing power = structural Hermès still produces less than demand. Customers are still on a waiting list. Margins are still in the top tier globally. So what has actually changed? The stock price is the answer. The market is now pricing in fear – not fundamental breaches. And that's exactly where the best cases often lie. Agree that the market can be irrational for a long time. But that's also precisely why quality sometimes becomes available at a discount. Like now. The question is not whether Hermès is expensive. The question is whether the quality is intact. I believe the answer is yes.
22.4.22.4.Tämä julkaisu on poistettu.
·15.4.Therefore, the stock falls approx. 12–14 % today 1) Growth was lower than the market expected Hermès delivered +5.6 % organic growth, but analysts were around 7 %+. It sounds like a small difference — but for Hermès it's big, because the stock trades at a very high multiple. When a stock with a P/E around 40–45 disappoints even a little, the price reaction becomes violent.  ⸻ 2) The Middle East hit hard The biggest negative shock came from: • weaker sales in Dubai • lower traffic in luxury stores • fewer tourists in Paris and London Hermès directly mentions that the conflict around Iran significantly affected sales in March. Middle East sales fell 6 %, and Dubai malls were extremely weak.  ⸻ 3) China is still too weak Asia ex Japan grew only moderately. For a luxury company like Hermès, the market normally expects China to drive a large part of the momentum. When China doesn't accelerate, investors get nervous. - ·26.3.Hermès traded for a long time around 45–50 times earnings, which is extremely expensive even for luxury. When growth goes from e.g.: • previously 15–20% to now: • around 8–10% then the market compresses the multiple. Asia ex Japan grew only +5%, which is lower than previous years. The market is nervous about: • Chinese luxury demand • weak real estate sector in China • less shopping among upper-middle luxury customers·26.4.Hermes is not like others, as there are no others to compare with. Their brand has a very special customer group and they must hold on to that at all costs. - Market Cap of 172.7 bn. euro - Net Cash of 9.89 bn. euro (they have more cash than debt) - Enterprise Value (EV) of 162.8 bn. euro When you deduct the cash balance from the price, you effectively pay less for the business itself than the share price suggests. Is there a case: - Buy only if you get a big discount (Francisco Garcia Parames) - It is better to buy a fantastic company at a fair price than a fair company at a fantastic price (Warren B.) Francisco does not buy Hermes, but Warren B. might well do so. Hermes has a P/E of 38.26 which historically is a fair price for Hermes, which cannot be compared. It is not a "Deep Value" stock and hopefully never will be. But it is an "Earned Value" stock because their moat is intact..... Is China's headwind permanent. Well, Hermes will probably never bleed internally. If they lower the price, they would destroy their moat :-( So the classic calculations probably cannot be used here; it's "Ultra-Luxury" we're talking about..... Indeed, - FCF Margin of 26.33% is extremely high and shows that they can charge almost any price they want. - Inventory Turnover of 1.72 is very low, So they are not in a hurry to "push" goods out. China hurts now, but it is precisely here that the external headwind is seen. When you deduct their enormous cash balance from the price, you effectively pay less for the business itself than the share price suggests. Current price does not provide a margin of safety of 35%, but "It's a fantastic company, but the price is only fair, not cheap (Warren B.)"....... But you are absolutely right, even though Hermès is a fantastic company, the stock is dangerous right now. It is priced at "Formula 1 speed", but currently drives like a "family car" :-) Fair winds!.....
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
2026 Q1 -tulosraportti
31 päivää sitten
‧45 min
13,00 EUR/osake
Viimeisin osinko
1,13%Tuotto/v
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·16.4.Don't several of you forget - that one should not buy a company that is bleeding from the heart, but buy one that has merely encountered external headwinds. - but remember that the market can be irrational longer than your capital can be patient..... So, does the Hermes financial report reflect a crisis that is "self-inflicted" or "environmentally determined"? Yes, there can be no doubt about that. Accounting-technical currency noise and geopolitical headwinds, I would say.... LVMH? Yes, I would say they are closer to "bleeding". With organic growth of only +1% (and falling sales in some divisions). That being said, LVMH is a good company and an interesting case, but I haven't delved into their financial reports recently. The market is "sick" due to the Middle East, tariffs, a crazy president in the USA, oil that is about to send the whole world into stagnation and possible recession....(Europe is already at the start of a stagnation) so headwinds drag even healthy companies down.....good fight and good luck.·22.4.Interesting point, but I think many miss the point a bit with the Hermès case. This is not a company that "bleeds". This is a company that is being dragged down by macro – while the fundamentals are almost untouched. The difference is important: - Weak demand in China = cyclical - Currency/geopolitics = temporary - Brand, margins, pricing power = structural Hermès still produces less than demand. Customers are still on a waiting list. Margins are still in the top tier globally. So what has actually changed? The stock price is the answer. The market is now pricing in fear – not fundamental breaches. And that's exactly where the best cases often lie. Agree that the market can be irrational for a long time. But that's also precisely why quality sometimes becomes available at a discount. Like now. The question is not whether Hermès is expensive. The question is whether the quality is intact. I believe the answer is yes.
- 22.4.22.4.Tämä julkaisu on poistettu.
- ·15.4.Therefore, the stock falls approx. 12–14 % today 1) Growth was lower than the market expected Hermès delivered +5.6 % organic growth, but analysts were around 7 %+. It sounds like a small difference — but for Hermès it's big, because the stock trades at a very high multiple. When a stock with a P/E around 40–45 disappoints even a little, the price reaction becomes violent.  ⸻ 2) The Middle East hit hard The biggest negative shock came from: • weaker sales in Dubai • lower traffic in luxury stores • fewer tourists in Paris and London Hermès directly mentions that the conflict around Iran significantly affected sales in March. Middle East sales fell 6 %, and Dubai malls were extremely weak.  ⸻ 3) China is still too weak Asia ex Japan grew only moderately. For a luxury company like Hermès, the market normally expects China to drive a large part of the momentum. When China doesn't accelerate, investors get nervous. 
- ·26.3.Hermès traded for a long time around 45–50 times earnings, which is extremely expensive even for luxury. When growth goes from e.g.: • previously 15–20% to now: • around 8–10% then the market compresses the multiple. Asia ex Japan grew only +5%, which is lower than previous years. The market is nervous about: • Chinese luxury demand • weak real estate sector in China • less shopping among upper-middle luxury customers·26.4.Hermes is not like others, as there are no others to compare with. Their brand has a very special customer group and they must hold on to that at all costs. - Market Cap of 172.7 bn. euro - Net Cash of 9.89 bn. euro (they have more cash than debt) - Enterprise Value (EV) of 162.8 bn. euro When you deduct the cash balance from the price, you effectively pay less for the business itself than the share price suggests. Is there a case: - Buy only if you get a big discount (Francisco Garcia Parames) - It is better to buy a fantastic company at a fair price than a fair company at a fantastic price (Warren B.) Francisco does not buy Hermes, but Warren B. might well do so. Hermes has a P/E of 38.26 which historically is a fair price for Hermes, which cannot be compared. It is not a "Deep Value" stock and hopefully never will be. But it is an "Earned Value" stock because their moat is intact..... Is China's headwind permanent. Well, Hermes will probably never bleed internally. If they lower the price, they would destroy their moat :-( So the classic calculations probably cannot be used here; it's "Ultra-Luxury" we're talking about..... Indeed, - FCF Margin of 26.33% is extremely high and shows that they can charge almost any price they want. - Inventory Turnover of 1.72 is very low, So they are not in a hurry to "push" goods out. China hurts now, but it is precisely here that the external headwind is seen. When you deduct their enormous cash balance from the price, you effectively pay less for the business itself than the share price suggests. Current price does not provide a margin of safety of 35%, but "It's a fantastic company, but the price is only fair, not cheap (Warren B.)"....... But you are absolutely right, even though Hermès is a fantastic company, the stock is dangerous right now. It is priced at "Formula 1 speed", but currently drives like a "family car" :-) Fair winds!.....
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Euronext Paris
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Välittäjätilasto
Dataa ei löytynyt
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q2 -tulosraportti 29.7. |
| Menneet tapahtumat | ||
|---|---|---|
Vuosittainen yhtiökokous 2026 17.4. | ||
2026 Q1 -tulosraportti 15.4. | ||
2025 Q4 -tulosraportti 12.2. | ||
2025 Q3 -tulosraportti 22.10.2025 | ||
2025 Q2 -tulosraportti 30.7.2025 |
2026 Q1 -tulosraportti
31 päivää sitten
‧45 min
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: FactSet, Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q2 -tulosraportti 29.7. |
| Menneet tapahtumat | ||
|---|---|---|
Vuosittainen yhtiökokous 2026 17.4. | ||
2026 Q1 -tulosraportti 15.4. | ||
2025 Q4 -tulosraportti 12.2. | ||
2025 Q3 -tulosraportti 22.10.2025 | ||
2025 Q2 -tulosraportti 30.7.2025 |
13,00 EUR/osake
Viimeisin osinko
1,13%Tuotto/v
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·16.4.Don't several of you forget - that one should not buy a company that is bleeding from the heart, but buy one that has merely encountered external headwinds. - but remember that the market can be irrational longer than your capital can be patient..... So, does the Hermes financial report reflect a crisis that is "self-inflicted" or "environmentally determined"? Yes, there can be no doubt about that. Accounting-technical currency noise and geopolitical headwinds, I would say.... LVMH? Yes, I would say they are closer to "bleeding". With organic growth of only +1% (and falling sales in some divisions). That being said, LVMH is a good company and an interesting case, but I haven't delved into their financial reports recently. The market is "sick" due to the Middle East, tariffs, a crazy president in the USA, oil that is about to send the whole world into stagnation and possible recession....(Europe is already at the start of a stagnation) so headwinds drag even healthy companies down.....good fight and good luck.·22.4.Interesting point, but I think many miss the point a bit with the Hermès case. This is not a company that "bleeds". This is a company that is being dragged down by macro – while the fundamentals are almost untouched. The difference is important: - Weak demand in China = cyclical - Currency/geopolitics = temporary - Brand, margins, pricing power = structural Hermès still produces less than demand. Customers are still on a waiting list. Margins are still in the top tier globally. So what has actually changed? The stock price is the answer. The market is now pricing in fear – not fundamental breaches. And that's exactly where the best cases often lie. Agree that the market can be irrational for a long time. But that's also precisely why quality sometimes becomes available at a discount. Like now. The question is not whether Hermès is expensive. The question is whether the quality is intact. I believe the answer is yes.
- 22.4.22.4.Tämä julkaisu on poistettu.
- ·15.4.Therefore, the stock falls approx. 12–14 % today 1) Growth was lower than the market expected Hermès delivered +5.6 % organic growth, but analysts were around 7 %+. It sounds like a small difference — but for Hermès it's big, because the stock trades at a very high multiple. When a stock with a P/E around 40–45 disappoints even a little, the price reaction becomes violent.  ⸻ 2) The Middle East hit hard The biggest negative shock came from: • weaker sales in Dubai • lower traffic in luxury stores • fewer tourists in Paris and London Hermès directly mentions that the conflict around Iran significantly affected sales in March. Middle East sales fell 6 %, and Dubai malls were extremely weak.  ⸻ 3) China is still too weak Asia ex Japan grew only moderately. For a luxury company like Hermès, the market normally expects China to drive a large part of the momentum. When China doesn't accelerate, investors get nervous. 
- ·26.3.Hermès traded for a long time around 45–50 times earnings, which is extremely expensive even for luxury. When growth goes from e.g.: • previously 15–20% to now: • around 8–10% then the market compresses the multiple. Asia ex Japan grew only +5%, which is lower than previous years. The market is nervous about: • Chinese luxury demand • weak real estate sector in China • less shopping among upper-middle luxury customers·26.4.Hermes is not like others, as there are no others to compare with. Their brand has a very special customer group and they must hold on to that at all costs. - Market Cap of 172.7 bn. euro - Net Cash of 9.89 bn. euro (they have more cash than debt) - Enterprise Value (EV) of 162.8 bn. euro When you deduct the cash balance from the price, you effectively pay less for the business itself than the share price suggests. Is there a case: - Buy only if you get a big discount (Francisco Garcia Parames) - It is better to buy a fantastic company at a fair price than a fair company at a fantastic price (Warren B.) Francisco does not buy Hermes, but Warren B. might well do so. Hermes has a P/E of 38.26 which historically is a fair price for Hermes, which cannot be compared. It is not a "Deep Value" stock and hopefully never will be. But it is an "Earned Value" stock because their moat is intact..... Is China's headwind permanent. Well, Hermes will probably never bleed internally. If they lower the price, they would destroy their moat :-( So the classic calculations probably cannot be used here; it's "Ultra-Luxury" we're talking about..... Indeed, - FCF Margin of 26.33% is extremely high and shows that they can charge almost any price they want. - Inventory Turnover of 1.72 is very low, So they are not in a hurry to "push" goods out. China hurts now, but it is precisely here that the external headwind is seen. When you deduct their enormous cash balance from the price, you effectively pay less for the business itself than the share price suggests. Current price does not provide a margin of safety of 35%, but "It's a fantastic company, but the price is only fair, not cheap (Warren B.)"....... But you are absolutely right, even though Hermès is a fantastic company, the stock is dangerous right now. It is priced at "Formula 1 speed", but currently drives like a "family car" :-) Fair winds!.....
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Euronext Paris
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Välittäjätilasto
Dataa ei löytynyt