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

Swedish (OMX) Communications Industry Analysis

UpdatedJan 12, 2026
DataAggregated Company Financials
Companies10
  • 7D-2.8%
  • 3M-5.9%
  • 1Y-3.3%
  • YTD-1.4%

Over the last 7 days, the Communications industry has dropped 1.4%, driven by a pullback from Telefonaktiebolaget LM Ericsson of 1.6%. In contrast, LumenRadio has gained 5.1%. Overall the industry is down 6.2% in 12 months. In the next few years, earnings are forecast to decline by 8.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 12 Jan 2026SEK 314.2bSEK 245.7bSEK 25.0b46x12.5x1.3x
Wed, 10 Dec 2025SEK 329.2bSEK 245.7bSEK 25.0b51.1x13.1x1.3x
Fri, 07 Nov 2025SEK 343.5bSEK 245.7bSEK 25.0b58.9x13.7x1.4x
Sun, 05 Oct 2025SEK 288.1bSEK 251.1bSEK 17.6b48x16.4x1.1x
Tue, 02 Sep 2025SEK 277.0bSEK 251.1bSEK 17.6b51.3x15.7x1.1x
Thu, 31 Jul 2025SEK 260.4bSEK 251.1bSEK 17.6b48x14.8x1x
Sat, 28 Jun 2025SEK 294.6bSEK 254.9bSEK 1.9b116.7x155.4x1.2x
Mon, 26 May 2025SEK 303.5bSEK 254.9bSEK 1.9b119.9x160.1x1.2x
Wed, 23 Apr 2025SEK 288.5bSEK 254.6bSEK 1.9b57.1x150.4x1.1x
Fri, 21 Mar 2025SEK 309.7bSEK 253.5bSEK 293.0m77.1x1057x1.2x
Sun, 16 Feb 2025SEK 314.6bSEK 253.6bSEK 302.9m83.3x1038.6x1.2x
Tue, 14 Jan 2025SEK 324.7bSEK 252.5b-SEK 1,052,139,568.0040.9x-308.6x1.3x
Thu, 12 Dec 2024SEK 329.8bSEK 252.5b-SEK 1,052,139,568.0042.5x-313.4x1.3x
Sat, 09 Nov 2024SEK 320.9bSEK 252.5b-SEK 1,039,310,568.0033.1x-308.7x1.3x
Mon, 07 Oct 2024SEK 280.6bSEK 255.1b-SEK 35,428,883,961.0038x-7.9x1.1x
Wed, 04 Sep 2024SEK 282.7bSEK 255.1b-SEK 35,428,883,961.0036.7x-8x1.1x
Fri, 02 Aug 2024SEK 271.0bSEK 255.1b-SEK 35,441,929,401.0036.5x-7.6x1.1x
Sun, 30 Jun 2024SEK 246.9bSEK 259.5b-SEK 24,911,100,401.0032.7x-9.9x1x
Tue, 28 May 2024SEK 240.5bSEK 259.5b-SEK 24,906,564,997.0030.9x-9.7x0.9x
Thu, 25 Apr 2024SEK 218.2bSEK 259.4b-SEK 24,919,303,227.0027.3x-8.8x0.8x
Sat, 23 Mar 2024SEK 219.3bSEK 268.8b-SEK 25,893,300,227.0027.5x-8.5x0.8x
Mon, 19 Feb 2024SEK 213.5bSEK 268.7b-SEK 25,907,696,425.0031.8x-8.2x0.8x
Wed, 17 Jan 2024SEK 243.1bSEK 282.8b-SEK 23,167,536,425.0032.6x-10.5x0.9x
Fri, 15 Dec 2023SEK 235.7bSEK 282.8b-SEK 23,167,536,425.0034.1x-10.2x0.8x
Sun, 12 Nov 2023SEK 191.8bSEK 282.8b-SEK 23,164,772,425.0024.6x-8.3x0.7x
Tue, 10 Oct 2023SEK 200.8bSEK 286.2bSEK 12.7b21.7x15.8x0.7x
Thu, 07 Sep 2023SEK 221.2bSEK 286.1bSEK 12.7b22.1x17.4x0.8x
Sat, 05 Aug 2023SEK 205.2bSEK 286.1bSEK 12.7b24.7x16.2x0.7x
Mon, 03 Jul 2023SEK 226.4bSEK 284.0bSEK 17.9b25.7x12.7x0.8x
Wed, 31 May 2023SEK 220.3bSEK 283.9bSEK 17.9b29.2x12.3x0.8x
Fri, 28 Apr 2023SEK 212.7bSEK 283.8bSEK 17.9b26.9x11.9x0.7x
Sun, 26 Mar 2023SEK 214.1bSEK 276.1bSEK 19.2b27.8x11.1x0.8x
Tue, 21 Feb 2023SEK 227.2bSEK 275.9bSEK 19.2b35.8x11.8x0.8x
Thu, 19 Jan 2023SEK 235.8bSEK 261.1bSEK 23.1b36x10.2x0.9x
Price to Earnings Ratio

10.2x


Total Market Cap: SEK 235.8bTotal Earnings: SEK 23.1bTotal Revenue: SEK 261.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Communications Industry Price to Earnings3Y Average 61.1x202420252026
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 12.5x which is lower than its 3-year average PE of 61.1x.
  • The 3-year average PS ratio of 1.00x 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 Market2.44%
Tech0.65%
Communications-2.80%
Communications Equipment-2.80%
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
NETI B Net InsightSEK 3.953.7%
+SEK 47.7m		-43.3%PE229x
KEBNI B KebNiSEK 1.858.8%
+SEK 41.0m		64.8%PE87.2x
LUMEN LumenRadioSEK 61.704.6%
+SEK 34.0m		-36.9%PE45.1x
MAVEN Maven Wireless SwedenSEK 5.785.5%
+SEK 15.8m		-42.0%PS1.4x
INCOAX InCoax NetworksSEK 0.944.0%
+SEK 4.7m		-46.4%PS1.7x

Latest News

HMS
SEK 401.00
HMS Networks
7D
-0.8%
1Y
-0.8%

HMS: Acquisition-Focused Expansion Will Drive Future Earnings Upside Potential

Analysts have kept their price target for HMS Networks steady at SEK545.00, with the unchanged fair value reflecting slightly adjusted assumptions on discount rate, revenue growth, profit margin and future P/E that they see as offsetting each other overall. What's in the News HMS Networks AB (publ) plans to continue looking for acquisitions as part of its growth approach, alongside its existing internal growth efforts (Key Developments).
ERIC B
SEK 86.66
Telefonaktiebolaget LM Ericsson
7D
-3.3%
1Y
-3.3%

ERIC B: Future EU Huawei Ban Could Limit Upside Despite Profit Margin Outlook

Analysts have lifted their fair value estimate for Telefonaktiebolaget LM Ericsson from SEK 56.0 to SEK 62.0, reflecting updated views on margins, discount rates and P/E assumptions, alongside recent price target increases from SEK 85 to SEK 95, SEK 93 to SEK 100.90 and SEK 55 to SEK 70 across several firms. Analyst Commentary Recent Street research around Telefonaktiebolaget LM Ericsson shows a mix of higher price targets with generally cautious ratings.
TAGM B
SEK 19.40
TagMaster
7D
0.8%
1Y
68.0%

Is There Now An Opportunity In TagMaster AB (publ) (STO:TAGM B)?

Jan 05
Is There Now An Opportunity In TagMaster AB (publ) (STO:TAGM B)?
KEBNI B
SEK 1.85
KebNi
7D
8.8%
1Y
64.8%
WAYS
SEK 39.70
Waystream Holding
7D
0.3%
1Y
143.3%

The Market Lifts Waystream Holding AB (publ) (STO:WAYS) Shares 26% But It Can Do More

Jan 01
The Market Lifts Waystream Holding AB (publ) (STO:WAYS) Shares 26% But It Can Do More
GAPW B
SEK 14.94
Gapwaves
7D
-0.1%
1Y
6.7%

GAPW B: New Radar Contracts Will Drive Stronger Long Term Upside

Analysts have slightly raised their price target on Gapwaves to SEK 23.50 from SEK 23.00. This reflects modestly higher long term growth expectations and a somewhat richer earnings multiple, despite a small downward adjustment to projected profit margins.
INCOAX
SEK 0.94
InCoax Networks
7D
4.0%
1Y
-46.4%
LUMEN
SEK 61.70
LumenRadio
7D
4.6%
1Y
-36.9%
MAVEN
SEK 5.78
Maven Wireless Sweden
7D
5.5%
1Y
-42.0%
NETI B
SEK 3.95
Net Insight
7D
3.7%
1Y
-43.3%
F2M
SEK 0.021
Free2move Holding
7D
-4.5%
1Y
0%