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Swedish (OMX) Communications Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies10
  • 7D5.2%
  • 3M18.9%
  • 1Y25.8%
  • YTD21.0%

In the last week, the Communications industry is up 5.2%, with Telefonaktiebolaget LM Ericsson up 9.0%. In the same time, Gapwaves was down 7.3%. This means that the industry has gained 26% over the past year. In the next few years, earnings are forecast to decline by 5.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Mar 2026SEK 385.3bSEK 242.2bSEK 28.8b31.7x13.4x1.6x
Fri, 13 Feb 2026SEK 347.1bSEK 242.2bSEK 28.8b42.5x12.1x1.4x
Sun, 11 Jan 2026SEK 314.2bSEK 245.7bSEK 25.0b46x12.5x1.3x
Tue, 09 Dec 2025SEK 327.8bSEK 245.7bSEK 25.0b51.9x13.1x1.3x
Thu, 06 Nov 2025SEK 342.7bSEK 245.7bSEK 25.0b58.9x13.7x1.4x
Sat, 04 Oct 2025SEK 288.1bSEK 251.1bSEK 17.6b48x16.4x1.1x
Mon, 01 Sep 2025SEK 278.8bSEK 251.1bSEK 17.6b51x15.8x1.1x
Wed, 30 Jul 2025SEK 273.2bSEK 251.1bSEK 17.6b49.2x15.5x1.1x
Fri, 27 Jun 2025SEK 290.0bSEK 254.9bSEK 1.9b114.5x153x1.1x
Sun, 25 May 2025SEK 303.5bSEK 254.9bSEK 1.9b119.9x160.1x1.2x
Tue, 22 Apr 2025SEK 283.7bSEK 254.6bSEK 1.9b56.7x147.9x1.1x
Thu, 20 Mar 2025SEK 305.2bSEK 253.5bSEK 293.0m77x1041.7x1.2x
Sat, 15 Feb 2025SEK 314.6bSEK 253.6bSEK 302.9m83.3x1038.6x1.2x
Mon, 13 Jan 2025SEK 334.7bSEK 252.5b-SEK 1,052,139,568.0041x-318.1x1.3x
Wed, 11 Dec 2024SEK 331.3bSEK 252.5b-SEK 1,052,139,568.0042.7x-314.9x1.3x
Fri, 08 Nov 2024SEK 319.3bSEK 252.5b-SEK 1,040,198,568.0034.5x-307x1.3x
Sun, 06 Oct 2024SEK 280.6bSEK 255.1b-SEK 35,428,883,961.0038x-7.9x1.1x
Tue, 03 Sep 2024SEK 281.7bSEK 255.1b-SEK 35,428,883,961.0037x-8x1.1x
Thu, 01 Aug 2024SEK 271.4bSEK 255.1b-SEK 35,441,929,401.0036.9x-7.7x1.1x
Sat, 29 Jun 2024SEK 246.9bSEK 259.5b-SEK 24,911,100,401.0032.7x-9.9x1x
Mon, 27 May 2024SEK 240.8bSEK 259.5b-SEK 24,906,564,997.0030.2x-9.7x0.9x
Wed, 24 Apr 2024SEK 220.7bSEK 259.4b-SEK 24,919,303,227.0027.7x-8.9x0.9x
Fri, 22 Mar 2024SEK 219.9bSEK 268.8b-SEK 25,893,300,227.0028.8x-8.5x0.8x
Sun, 18 Feb 2024SEK 213.5bSEK 268.7b-SEK 25,907,696,425.0031.8x-8.2x0.8x
Tue, 16 Jan 2024SEK 243.3bSEK 282.8b-SEK 23,167,536,425.0032.3x-10.5x0.9x
Thu, 14 Dec 2023SEK 227.0bSEK 282.8b-SEK 23,164,772,425.0031.9x-9.8x0.8x
Sat, 11 Nov 2023SEK 191.8bSEK 282.8b-SEK 23,156,741,425.0024.6x-8.3x0.7x
Mon, 09 Oct 2023SEK 197.9bSEK 286.2bSEK 12.7b22.2x15.6x0.7x
Wed, 06 Sep 2023SEK 219.2bSEK 286.1bSEK 12.7b22.2x17.3x0.8x
Fri, 04 Aug 2023SEK 203.4bSEK 286.1bSEK 12.7b24.4x16x0.7x
Sun, 02 Jul 2023SEK 226.4bSEK 284.0bSEK 17.9b25.7x12.7x0.8x
Tue, 30 May 2023SEK 220.0bSEK 283.9bSEK 17.9b29.5x12.3x0.8x
Thu, 27 Apr 2023SEK 212.0bSEK 283.8bSEK 17.9b26.9x11.9x0.7x
Sat, 25 Mar 2023SEK 214.1bSEK 276.1bSEK 19.2b27.8x11.1x0.8x
Price to Earnings Ratio

11.1x


Total Market Cap: SEK 214.1bTotal Earnings: SEK 19.2bTotal Revenue: SEK 276.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Communications Industry Price to Earnings3Y Average 61.2x202420252026
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 13.4x which is lower than its 3-year average PE of 61.2x.
  • The 3-year average PS ratio of 1.0x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have grown 14% per year over the last three years.
  • Meanwhile revenues for these companies have declined 4.3% 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 Market0.51%
Tech4.38%
Communications5.20%
Communications Equipment5.20%
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 111.707.0%
+SEK 24.5b		33.8%PE13.1x
HMS HMS NetworksSEK 442.4010.3%
+SEK 2.1b		-7.9%PE51x
MAVEN Maven Wireless SwedenSEK 5.0025.0%
+SEK 69.9m		-46.1%PS1.4x
WAYS Waystream HoldingSEK 41.203.0%
+SEK 10.0m		89.4%PE33.2x

Latest News

LUMEN
SEK 55.20
LumenRadio
7D
-2.0%
1Y
-26.4%
GAPW B
SEK 11.10
Gapwaves
7D
-5.6%
1Y
-14.4%
NETI B
SEK 2.28
Net Insight
7D
-3.2%
1Y
-51.6%

NETI B: Future Live Media Platform Will Support Long-Term Earnings Outlook

Analysts have lifted their price target on Net Insight to SEK5.50, reflecting updated views that factor in slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E. What's in the News Launch of Nimbra Live Intelligence, described as an Open Media Platform for Live with three layers spanning production, distribution and protection workflows, aimed at making live media operations more predictable across networks, clouds and organizations (Product-Related Announcement).
HMS
SEK 442.40
HMS Networks
7D
10.3%
1Y
-7.9%

HMS: I Expect Constructive Rating Upgrades To Support Future Share Performance

Analysts have lifted their HMS Networks fair value estimate from SEK 440 to SEK 483, reflecting updated assumptions on the discount rate, growth, margins and P/E following recent upgrades and more constructive research on the shares. Analyst Commentary Recent research on HMS Networks has turned more constructive, with several firms expressing greater confidence in the shares and aligning price targets closer to the updated SEK 483 fair value estimate.
INCOAX
SEK 0.52
InCoax Networks
7D
-4.1%
1Y
-67.9%
ERIC B
SEK 111.70
Telefonaktiebolaget LM Ericsson
7D
7.0%
1Y
33.8%

ERIC B: Alliance Partnerships And Modest Re Rating Will Support Balanced Outlook

Analysts have nudged their price targets on Telefonaktiebolaget LM Ericsson slightly higher, with recent increases of SEK 1 to SEK 3 supported by updated assumptions around the discount rate, modest revenue growth expectations, and a future P/E of about 16.8x. Analyst Commentary Recent Street research on Telefonaktiebolaget LM Ericsson has centered on gradual adjustments to price targets, with bullish analysts fine tuning their models rather than making sweeping changes.
WAYS
SEK 41.20
Waystream Holding
7D
3.0%
1Y
89.4%
KEBNI B
SEK 1.24
KebNi
7D
-2.4%
1Y
-27.9%
MAVEN
SEK 5.00
Maven Wireless Sweden
7D
25.0%
1Y
-46.1%
TAGM B
SEK 24.30
TagMaster
7D
-2.0%
1Y
70.5%

There's Been No Shortage Of Growth Recently For TagMaster's (STO:TAGM B) Returns On Capital

Feb 10
There's Been No Shortage Of Growth Recently For TagMaster's (STO:TAGM B) Returns On Capital
F2M
SEK 0.019
Free2move Holding
7D
-5.0%
1Y
-34.5%