Financial Data

Key ratios

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024
Revenue (MSEK) 2,815 2,981 2,766 2,137 2,540 2,539 3,375 2,515
Gross profit (MSEK) 324 339 307 205 346 360 405 294
Operating profit 1) (MSEK) 70 213 -8 59 116 130 107 95
Operating margin (%) 2.5 7.2 -0.3 2.8 4.6 5.1 3.2 3.8
Operating margin, trailing twelve months (%) 3.1 3.6 3.0 3.9 4.1 4.2 4.2 2.7
Profit before tax (MSEK) 16 172 -36 14 69 90 81 71
Cash flow from operating activities (MSEK) 707 21 467 323 -204 -509 -401 418
Return on equity (%) 1.4 1.9 0.8 1.7 2.2 2.6 2.9 0.6
Equity/assets ratio (%) 55.0 54.0 57.0 56.0 55.0 56.0 57.0 55.0
Earnings per share (SEK) -0.1 2.3 -0.3 -0.1 0.6 0.8 0.9 0.6
Interest-bearing net liabilities (+)/receivables (-) (MSEK) 2,923 3,462 2,615 3,080 3,377 2,944 2,343 1,856
Number of residential units sold 784 920 478 562 433 555 574 649
Number of housing starts 679 425 750 296 647 577 733 637
Number of residential units in current production 5,116 4,936 4,829 4,341 4,557 4,511 4,558 4,978
1) Gains/losses on the sale of property (MSEK) 1 116 -80 57 6 -3 22 15

Revenue

Datablocks chartMSEKQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 202601,0002,0003,0004,000Revenue
Data table: Chart: Revenue
CategoryRevenue (MSEK)
Q3 20242515
Q4 20243375
Q1 20252539
Q2 20252540
Q3 20252137
Q4 20252766
Q1 20262981
Q2 20262815

Operating profit and margin

Datablocks chartMSEK%Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026-10001002003004002.42.83.23.644.4Operating profit 1)Operating margin, trailing twelve months
Data table: Chart: Operating profit 1), Operating margin, trailing twelve months
CategoryOperating profit 1) (MSEK)Operating margin, trailing twelve months (%)
Q3 2024952.7
Q4 20241074.2
Q1 20251304.2
Q2 20251164.1
Q3 2025593.9
Q4 2025-83
Q1 20262133.6
Q2 2026703.1

Housing starts

Datablocks chartQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 202605001,0001,5002,0002,5003,000Number of housing startsNumber of housing starts (LTM)
Data table: Chart: Number of housing starts, Number of housing starts (LTM)
CategoryNumber of housing startsNumber of housing starts (LTM)
Q3 20246372244
Q4 20247332237
Q1 20255772669
Q2 20256472594
Q3 20252962253
Q4 20257502270
Q1 20264252118
Q2 20266792150

Residential units in current production

Datablocks chartQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 20264,2004,4004,6004,8005,0005,200Number of residential units in current production
Data table: Chart: Number of residential units in current production
CategoryNumber of residential units in current production
Q3 20244978
Q4 20244558
Q1 20254511
Q2 20254557
Q3 20254341
Q4 20254829
Q1 20264936
Q2 20265116
Source: Modular Finance AB

Financial Targets

JM's financial targets are defined based on segment reporting and aim to provide balanced support for the long-term financial development...

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Financial Risk Management

Controlled risk-taking is decisive for good profitability.

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JM Housing Starts

The Group's housing starts, quarterly.

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Definitions Key Financial Figures

Amounts as per Dec 31, 2024. 

Historical information – JM Stockholm business segment

As the business segments JM Residential Stockholm and JM Property Development have, as of Q1 2026, formed the JM Stockholm business segment, historical consolidated information is presented here. The information has not been reviewed by the company’s auditor.

Development and Project Properties

Development properties for JMs housing operations and Project properties under development Dec 31, 2023.

Development and Project Properties