Hermès Intl Shares Drop Nearly 5%, Lagging Behind on the CAC 40
The saddler of Faubourg Saint-Honoré experiences the sharpest decline in the CAC 40 at mid-session, in a distinctly downward-trending Parisian luxury sector. The company has erased most of its monthly rebound in one morning and has fallen below its short-term moving averages.
Hermès at the Bottom of the CAC 40 by Midday, Parisian Luxury Under Pressure
Hermès International shares fell by 4.85% to €1,638.00, marking the steepest drop in the CAC 40 at mid-session, while the Parisian index itself fell by 0.7%. The downturn spared no players in the sector: LVMH dropped 1.85%, Christian Dior 2.03%, and Kering 1.42%, but Hermès saw a significantly sharper decline than its peers. This correction occurs as the sector's situation remains fragile in China, where sales of jewelry and gold have decreased by 8.9% year-on-year in May 2026, according to official data.
Simultaneously, the more restrictive turn coordinated by major central banks, with the ECB raising its rates for the first time since 2023, is weighing on the valuations of growth stocks, of which luxury is a prominent part in Paris. The day's drop brings the weekly performance to -3.48%, while the gain over a month is +1.9%.
Break Below the MM20 at €1,653.40, Eyeing Support at €1,564
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Today's downturn has pushed the stock price below its two short-term moving averages, with a gap of 0.93% below the MM20 (€1,653.40) and 0.65% below the MM50 (€1,648.78), while the MM200 at €1,955.00 remains significantly distant (-16.21%) and illustrates the underlying bearish trend, with the stock still down 27.43% over the year. The RSI at 57 remains in a neutral zone, without signs of exhaustion, leaving the door open for a test of the support identified at €1,564 in case the decline continues. In terms of valuation, the stock is trading at about 36.5 times the earnings for the current fiscal year according to the consensus of analysts surveyed, a high multiple that makes the stock sensitive to adjustments in monetary policy discourse and deteriorating signals on Chinese demand.
Hermès had confirmed, during the announcement of the annual results for 2025 on February 11, 2026, an ambitious medium-term target for constant-rate revenue growth. The next technical benchmark to watch remains the €1,564 threshold.
Le modèle Hermès, fondé sur une distribution exclusive et qualitative, a une nouvelle fois porté ses fruits. Hermès aborde l’année 2026 avec confiance.
Résultats annuels 2025 solides: chiffre d’affaires de 16 002 millions d’euros, croissance à taux constants de 8,9 % et croissance à taux courants de 5,5 %. Résultat opérationnel courant de 6 569 millions d’euros (41,0 % du chiffre d’affaires) et résultat net de 4 524 millions d’euros. Cash flow disponible ajusté de 3 880 millions d’euros; trésorerie nette retraitée à 12 773 millions d’euros. Propositions de dividendes et actions nouvelles pour 2026, avec un accent sur le développement et l’emploi.
Outlook / guidance
Expected revenue: Le chiffre d’affaires 2026 est attendu en progression à taux constants sans chiffre précis communiqué.
Expected EBITDA: Non précisé dans le communiqué.
Expected net income: Non précisé dans le communiqué.
Management commentary: Perspectives positives pour 2026, grâce au modèle d’entreprise intégré et à la fidélité de la clientèle, malgré un contexte économique et géopolitique incertain.
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