Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swedish (OMX) Communications Industry Analysis

UpdatedDec 21, 2025
DataAggregated Company Financials
Companies10
  • 7D0.9%
  • 3M15.7%
  • 1Y0.7%
  • YTD-1.4%

Over the last 7 days, the Communications industry has remained flat, although notably HMS Networks declined by 5.9%. In line with that, the industry has also been flat over the past 12 months. Looking forward, earnings are forecast to decline by 9.1% per year.

Industry Valuation and Performance

Has the Swedish Communications Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 22 Dec 2025SEK 326.2bSEK 245.7bSEK 25.0b47.9x13x1.3x
Wed, 19 Nov 2025SEK 328.9bSEK 245.7bSEK 25.0b54.3x13.1x1.3x
Fri, 17 Oct 2025SEK 328.1bSEK 245.6bSEK 25.0b49.5x13.1x1.3x
Sun, 14 Sep 2025SEK 274.8bSEK 251.1bSEK 17.6b49.9x15.6x1.1x
Tue, 12 Aug 2025SEK 267.7bSEK 251.1bSEK 17.6b47.7x15.2x1.1x
Thu, 10 Jul 2025SEK 286.2bSEK 254.9bSEK 1.9b114.5x151x1.1x
Sat, 07 Jun 2025SEK 302.8bSEK 254.9bSEK 1.9b121.3x159.8x1.2x
Mon, 05 May 2025SEK 295.3bSEK 254.9bSEK 1.9b118x155.2x1.2x
Wed, 02 Apr 2025SEK 291.3bSEK 252.9bSEK 302.6m74.2x962.7x1.2x
Fri, 28 Feb 2025SEK 326.3bSEK 253.5bSEK 284.9m79.4x1145.3x1.3x
Sun, 26 Jan 2025SEK 312.5bSEK 253.5bSEK 332.9m54.2x938.9x1.2x
Tue, 24 Dec 2024SEK 325.1bSEK 252.5b-SEK 1,052,139,568.0041.7x-309x1.3x
Thu, 21 Nov 2024SEK 317.1bSEK 252.5b-SEK 1,049,129,568.0042.8x-302.3x1.3x
Sat, 19 Oct 2024SEK 322.4bSEK 252.5b-SEK 1,037,214,961.0040.1x-310.8x1.3x
Mon, 16 Sep 2024SEK 280.8bSEK 255.1b-SEK 35,428,883,961.0036.8x-7.9x1.1x
Wed, 14 Aug 2024SEK 264.6bSEK 255.1b-SEK 35,441,929,401.0034.5x-7.5x1x
Fri, 12 Jul 2024SEK 253.1bSEK 259.5b-SEK 24,911,100,401.0033.1x-10.2x1x
Sun, 09 Jun 2024SEK 248.9bSEK 259.5b-SEK 24,909,464,401.0030.9x-10x1x
Tue, 07 May 2024SEK 218.1bSEK 259.5b-SEK 24,906,205,227.0029.2x-8.8x0.8x
Thu, 04 Apr 2024SEK 222.8bSEK 268.8b-SEK 25,891,077,227.0028.4x-8.6x0.8x
Sat, 02 Mar 2024SEK 215.7bSEK 268.8b-SEK 25,891,554,425.0026.7x-8.3x0.8x
Mon, 29 Jan 2024SEK 231.9bSEK 268.7b-SEK 25,880,323,425.0033x-9x0.9x
Wed, 27 Dec 2023SEK 238.5bSEK 282.8b-SEK 23,167,536,425.0035.3x-10.3x0.8x
Fri, 24 Nov 2023SEK 201.3bSEK 282.8b-SEK 23,164,772,425.0032.4x-8.7x0.7x
Sun, 22 Oct 2023SEK 186.8bSEK 282.8b-SEK 23,158,109,962.0027.4x-8.1x0.7x
Tue, 19 Sep 2023SEK 212.0bSEK 286.1bSEK 12.7b22.4x16.7x0.7x
Thu, 17 Aug 2023SEK 202.5bSEK 286.1bSEK 12.7b23.4x15.9x0.7x
Sat, 15 Jul 2023SEK 201.2bSEK 286.1bSEK 12.7b24.7x15.8x0.7x
Mon, 12 Jun 2023SEK 220.7bSEK 284.0bSEK 17.9b28.5x12.3x0.8x
Wed, 10 May 2023SEK 212.6bSEK 283.9bSEK 17.9b29.4x11.9x0.7x
Fri, 07 Apr 2023SEK 234.2bSEK 276.1bSEK 19.2b26.7x12.2x0.8x
Sun, 05 Mar 2023SEK 229.1bSEK 275.9bSEK 19.2b35.5x11.9x0.8x
Tue, 31 Jan 2023SEK 228.3bSEK 275.9bSEK 19.2b36.6x11.9x0.8x
Thu, 29 Dec 2022SEK 227.4bSEK 261.1bSEK 23.1b32x9.8x0.9x
Price to Earnings Ratio

9.8x


Total Market Cap: SEK 227.4bTotal Earnings: SEK 23.1bTotal Revenue: SEK 261.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Communications Industry Price to Earnings3Y Average 61.1x202320242025
Current Industry PE
  • Investors are pessimistic on the Swedish Communications industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 13.0x which is lower than its 3-year average PE of 61.1x.
  • The 3-year average PS ratio of 0.99x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have grown 2.7% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.0% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Swedish Tech industry?

SE Market0.20%
Tech-0.54%
Communications0.92%
Communications Equipment0.92%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ERIC B Telefonaktiebolaget LM EricssonSEK 90.421.5%
+SEK 4.3b		1.5%PE12.2x
NETI B Net InsightSEK 3.833.5%
+SEK 44.2m		-47.8%PE221.8x
INCOAX InCoax NetworksSEK 0.504.0%
+SEK 2.5m		-72.6%PS0.9x

Latest News

HMS
SEK 418.00
HMS Networks
7D
-5.9%
1Y
-2.8%

HMS: Acquisition-Fueled Expansion Will Drive Stronger Long-Term Earnings Power

Analysts have trimmed their price target on HMS Networks by SEK 20 to SEK 575, reflecting slightly more cautious assumptions on revenue growth and profit margins, while also applying a marginally lower discount rate and a modestly higher future P E multiple. What's in the News HMS Networks plans to actively pursue further acquisitions, aiming to drive roughly half of its future growth through M&A and half through organic expansion (company presentation).
GAPW B
SEK 15.42
Gapwaves
7D
-5.9%
1Y
22.8%

GAPW B: Funding And New Radar Orders Will Support Stronger Future Upside

Analysts have trimmed their price target on Gapwaves to approximately $23.50 from $27.00. This reflects a higher perceived discount rate despite slightly stronger expectations for revenue growth and profit margins, alongside a lower projected future P E multiple.
WAYS
SEK 35.50
Waystream Holding
7D
-1.4%
1Y
125.8%
ERIC B
SEK 90.42
Telefonaktiebolaget LM Ericsson
7D
1.5%
1Y
1.5%

ERIC B: Evolving 5G Bans And New Contracts Will Shape Risk Reward Balance

Analysts have nudged up their price target on Telefonaktiebolaget LM Ericsson by SEK 5 to SEK 95, citing higher post Q3 revenue and margin expectations while maintaining a generally cautious stance on the shares. Analyst Commentary Recent target price revisions reflect a more constructive view on Ericsson's near term execution, tempered by lingering concerns over its longer term growth profile and industry headwinds.
LUMEN
SEK 54.00
LumenRadio
7D
-3.9%
1Y
-40.6%
MAVEN
SEK 5.66
Maven Wireless Sweden
7D
-6.6%
1Y
-45.3%
INCOAX
SEK 0.50
InCoax Networks
7D
4.0%
1Y
-72.6%
NETI B
SEK 3.83
Net Insight
7D
3.5%
1Y
-47.8%
KEBNI B
SEK 1.54
KebNi
7D
-5.0%
1Y
41.7%
F2M
SEK 0.026
Free2move Holding
7D
-3.7%
1Y
23.8%