H&M Financial Statements FY2021-FY2026Q3

H & M Hennes & Mauritz AB (Nasdaq Stockholm: HM B) Financial Statements in Beancount — Open Ledger

H&M's income statement and balance sheet, FY2021 through FY2026Q3, as a public, auditable plain-text Beancount ledger — reconstructed line by line from the company's own annual report and interim report filings and version-controlled in git. Part of the Open Ledger project on beancount.io.

Browse it live: beancount.io/ledger/open_ledger/hm

Latest analysis: H&M Q3 2026: Operating Profit Up 23% on Flat Sales, 1.6 Points One-Off

Key Figures

Amounts in MSEK (millions of Swedish kronor), exactly as the ledger records them.

What's Inside

The financial year ends November 30: FY2025 runs from 1 December 2024 to 30 November 2025, and FY2026Q3 is the standalone quarter from 1 June to 31 August 2026 — the nine-month report prints it beside the nine-month column. H & M Hennes & Mauritz AB's class B share is listed on Nasdaq Stockholm (HM B) and the company is not an SEC registrant, so every figure comes from the annual and sustainability reports and the interim reports it publishes on hmgroup.com, prepared under IFRS as adopted by the EU in whole millions of Swedish kronor. Nothing is converted into another currency. The interim report is reviewed by the auditor, not audited, and its statements are published in summary.

Quick Start

uvx --from beancount bean-check main.bean
uvx --from beanquery bean-query main.bean \
  "SELECT year, sum(position) WHERE account ~ '^Income:Revenue' GROUP BY year ORDER BY year"

Zero output from bean-check means the ledger is internally consistent: every
income statement sums to zero and every balance-sheet snapshot reconciles to
the filed totals. The query prints revenue by calendar year; income is a
credit, so it shows as a negative number. Open main.bean in Fava
or import it into beancount.io to explore it visually.

Methodology

• Balance sheet — pad / balance directives assert each period-end
  figure against the filing named in that period file's source banner.
• Income statement — one zero-sum transaction per period: Income
  negative (credit), Expenses positive (debit), with the arithmetic check in
  a comment directly above it.
• Unit — MSEK; 57,189 MSEK means 57,189 million Swedish kronor.
• As first published — each annual period is the figures of that year's
  own report. Later reports restated or reclassified three comparatives
  (FY2021: 180 moved between two liability captions; FY2022: 269 moved into
  the associates line; FY2023: the IAS 12 amendments, which lowered profit by
  7 and equity by 91). Each period file's banner states the later figures.
• Net income — the profit attributable to the shareholders of the parent
  company. The non-controlling interest's share (a loss in every period since
  FY2023) is a labeled posting on Expenses:OtherNet, so profit for the
  period as the report prints it is net income plus that posting.
• Operating profit — H&M's operating profit includes the result from
  investments in associated companies and joint ventures. The ledger carries
  that line, interest income and interest expense as separate labeled
  postings on Expenses:OtherNet; selling expenses and administrative
  expenses are one posting each on Expenses:SellingGeneralAdministrative.
• Leases (IFRS 16) — right-of-use assets sit in
  Assets:NonCurrent:OperatingLeaseRightOfUse and the leasing liabilities in
  Liabilities:Current:OperatingLeases and
  Liabilities:NonCurrent:OperatingLeases. The FY2021 and FY2022 reports
  caption those liabilities "other interest-bearing liabilities".
• Other added accounts — Assets:Current:Inventory (stock-in-trade),
  Assets:NonCurrent:LongTermInvestments (non-current financial assets) and
  Equity:NoncontrollingInterests.
• The interim balance sheet is a summary — the FY2026Q3 balance sheet
  prints one equity line and one intangible-assets line. The ledger holds the
  shareholders' equity on Equity:UndisaggregatedParent and asserts the
  component accounts and Assets:NonCurrent:Goodwill at zero for that period
  rather than estimating them. Accounts receivable, accounts payable and
  interest-bearing liabilities excluding leases are read from the report's
  working-capital table and balance-sheet footnotes; the …:Other lines are
  the residuals to the printed captions, and the long-term debt line that
  period includes provisions for pensions of 346, as the footnote prints it.
• One-time items — FY2023's 999 revaluation of associated companies is its
  own posting. In FY2026Q3 the report says one-time effects from tariffs and
  goods imports lifted the gross margin by "approximately 1.6 percentage
  points" and prints no krona amount. The second Expenses:CostOfRevenue
  posting, a credit of 935, is the one income-statement amount in the ledger
  that is not printed as such: it is the quarter's operating profit of 6,037 less the
  quarter's operating profit excluding the effect, 5,102, which is the
  nine-month figure excluding one-time items (13,206) less the six-month
  figure excluding one-time costs (8,104), both published. The two cost
  postings sum to the published cost of goods sold of 26,322.
• Rounding — the statements are published in whole millions and every
  subtotal foots exactly in all six periods, so the ledger carries no rounding
  posting.

Analysis

• H&M Q3 2026: Operating Profit Up 23% on Flat Sales, 1.6 Points One-Off — FY2026Q3

Corrections

Found a figure that does not match the filing? Email
[email protected] with the period, the account
and the filing page. Corrections are committed with the source cited.

About Open Ledger

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across companies, and auditable against primary filings. Read the analysis
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Disclaimer

This ledger is an independent reconstruction of H & M Hennes & Mauritz AB's publicly filed
financial statements, provided for educational and informational purposes
only. It is not investment, financial, legal, tax, or accounting advice, and
is not an offer or recommendation to buy or sell any security. Beancount.io is
not affiliated with, endorsed by, or sponsored by H & M Hennes & Mauritz AB; all trademarks
belong to their respective owners. Figures may contain errors, omissions, or
simplifications and may lag the latest filings — the company's own regulatory
filings are the authoritative source. Provided "as is" without warranty of any
kind; use at your own risk.