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German home-improvement retail group operating DIY and garden stores across Germany and other European countries.
German home-improvement retail group operating DIY and garden stores across Germany and other European countries.
Controlled by the founding Hornbach family through the holding company. Sells through very large out-of-town DIY megastores, and owns much of the property its stores sit on rather than renting it, so results depend on property as well as retail. Sales peak in the spring and summer gardening season.
In one line: A German Home Depot/Lowe's, but smaller and more regional.
Moat: narrow (brand, scale, distribution). Established large-format DIY store network across Europe, but exposed to housing/renovation cycle sensitivity.
Headquarters: Bornheim, Germany · Founded: 1877 · Employees: 25,514
Size HORNBACH Holding AG & Co. KGaA (HBH.DE) is a Germany Consumer Discretionary company (Home Improvement Chains) with a market value of $1.66B, the 117th largest of 205 Germany companies the cockpit tracks. Shares closed at €92.80 on 6 Nov 2026.
Performance Over six months the shares gained 18.2%, against +10.1% for the median peer and +2.6% for the Germany market (cap-weighted) — 2nd highest of 9 in its peer set.
Growth Revenue grew 4.7% over the last twelve months (peer median +5.3%); the operating margin is 4.0% (peer median 6.2%).
Valuation It trades at 10.2× forward earnings against a peer median of 12.5× (3rd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.6 points below its cost of capital (5.9% WACC).
Next results Next results expected around 22 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €6.65B | €6.43B | €6.20B | €6.16B | €6.26B |
| Revenue growth | — | +4% | +1% | -2% | — |
| Gross profit | €2.08B | €2.03B | €1.94B | €1.87B | €1.88B |
| EBITDA | €492M | €472M | €467M | €453M | €489M |
| Net income | €142M | €138M | €141M | €125M | €157M |
| Free cash flow | €259M | €179M | €152M | €303M | €237M |
| Capital expenditure | €224M | €220M | €184M | €171M | €203M |
| Total debt | €1.76B | €1.65B | €1.59B | €1.57B | €1.77B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| HORNBACH Holding AG & Co. KGaA HBH.DE | $1.66B | +18% | +5% | 4% | 10.2× | -3.6% |
| Home Depot (The) HD | $343B | +9% | +2% | 12% | 22.4× | 9.0% |
| Lowe's LOW | $126B | -2% | +8% | 11% | 18.0× | 2.7% |
| Kingfisher KGF.L | $8.17B | +34% | +1% | 5% | 13.9× | 5.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HBH.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.1% | +4.9% | 2nd highest of 9 |
| 6-month return | +18.2% | +10.1% | 2nd highest of 9 |
| Distance from 52-week high | -2.4% | -7.5% | 2nd highest of 9 |
| Revenue growth (TTM) | +4.7% | +5.3% | 4th lowest of 9 |
| Operating margin | 4.0% | 6.2% | lowest of 9 |
| Forward P/E | 10.2× | 12.5× | 3rd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | -3.6% | 0.7% | 3rd least demanding of 9 |
| Growth delivered (Del g) | +3.4% | +5.3% | 5th highest of 9 |
| Hurdle (Req g minus delivered) | -6.9 pp | -3.7 pp | 3rd least demanding of 9 |
| ROIC minus cost of capital | -0.6 pp | -0.1 pp | 2nd lowest of 9 |
| EV / EBITDA | 5.6× | 8.3× | cheapest of 9 |
| Net debt / EBITDA | 2.4× | 1.8× | 5th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HORNBACH Holding AG & Co. KGaA HBH.DE | Germany | $1.66B | +18% | +5% | 4% | 10.2× | -3.6% | +3.4% |
| DCM 3050.T | Japan | $1.40B | +10% | +5% | 6% | 12.5× | -1.7% | +2.9% |
| Komeri 8218.T | Japan | $1.21B | +17% | +3% | 6% | 11.8× | -6.8% | 0.0% |
| Sangetsu 8130.T | Japan | $1.15B | +4% | +4% | 10% | 13.7× | -10.8% | +7.3% |
| Kohnan Shoji 7516.T | Japan | $925M | +15% | +6% | 5% | 10.1× | 0.4% | +3.3% |
| Joyful Honda 3191.T | Japan | $859M | +10% | +5% | 6% | n/a | 1.1% | +0.3% |
| Clas Ohlson CLAS-B.ST | Sweden | $3.49B | +33% | +10% | 13% | 23.7× | 6.8% | +8.6% |
| Arclands 9842.T | Japan | $748M | +6% | +8% | 4% | 9.4× | 2.2% | +14.2% |
| Floor & Decor FND | United States | $5.34B | -1% | +2% | 6% | 27.3× | 17.7% | +14.1% |