HNNMY vs VRM: Which Is the Better Buy in 2026?

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. HNNMY and VRM share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined HNNMY and VRM exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

H & M Hennes & Mauritz AB is the world's second-largest listed fashion retailer by sales after Inditex, the owner of Zara. Founded in Sweden in 1947 and still controlled by the Persson family, the group sells clothing, footwear, accessories and homeware through roughly 4,100 stores in about 75 markets plus online. Brands include H&M, H&M Home, COS, Weekday, Monki, & Other Stories, ARKET and the resale platform Sellpy. HNNMY is an unsponsored American depositary receipt traded over the counter in US dollars; each ADR represents a fraction of one Stockholm-listed B share, so its dollar price is much lower than the SEK quote and moves with both the share and the krona. The primary listing is HM B on Nasdaq Stockholm.

Full HNNMY guide

Vroom began as an online used-vehicle retailer that aimed to sell cars entirely through ecommerce. That model never reached sustainable profitability, and in January 2024 the company announced it was winding down its ecommerce used-vehicle operations to preserve liquidity. What remained were two subsidiaries: United Auto Credit Corporation (UACC), a non-prime automotive finance company, and CarStory, an AI-powered analytics and digital-retail platform for car dealers. Vroom is now organized around those two businesses rather than selling cars itself.

Full VRM guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• HNNMY drivers: Gross margin and sourcing; Cost control and store rationalization.
• VRM drivers: A focused auto-finance business after the ecommerce exit; United Auto Credit as the core earnings engine.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The core risk is structural: H&M sits between ultra-cheap online players such as Shein and Temu and faster, more fashion-led rivals such as Zara, and it has struggled to show it is winning either fight. For VRM, vroom's earnings are tied to the non-prime auto-credit cycle, so rising delinquencies, charge-offs, or funding costs can quickly erode UACC's net interest income.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick HNNMY if you believe its drivers more; VRM if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the HNNMY and VRM guides.

HNNMY. Trailing figures combine the nine months to August 2026 with the fourth quarter of fiscal 2025. Per-share numbers are for one Stockholm B share, not one HNNMY ADR, because each ADR represents only a fraction of a share; the ADR's dollar price and per-ADR earnings are proportionally smaller, so the P/E multiple is the cleaner comparison. At about 21 times trailing earnings and roughly 18 to 21 times forward estimates, H&M trades near Inditex's multiple despite much slower growth, which reflects confidence in the margin recovery and the roughly 4% dividend yield. Figures are approximate and move with the share price and the krona.

VRM. As of October 16, 2026, Vroom traded at roughly 0.2 times trailing revenue and under half of book value, a discount that reflects continuing net losses, a heavily levered lending balance sheet and the absence of analyst estimates. Results before 2025 include the shut ecommerce operation, the Chapter 11 recapitalization and a 1-for-5 reverse split, so older figures are not directly comparable. The next report is expected around November 9, 2026.

Headline figures (approximate, October 2026): HNNMY shows revenue (ttm) ~SEK 221B (~$23B), operating profit (ttm) ~SEK 19.8B (~9% margin), net income (ttm) ~SEK 13.1B, eps per b share (ttm) ~SEK 8.25; VRM shows revenue (ttm) ~$208 million, latest quarter down ~4% year over year, net loss (ttm) ~$58 million, operating margin (ttm) ~31%, before loan-loss and other items that drive the net loss, cash ~$16 million.

HNNMY and VRM are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined HNNMY and VRM exposure against your real portfolio. It is not an investment adviser.