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Swedish (OMX) Communications Industry Analysis

UpdatedMar 20, 2026
DataAggregated Company Financials
Companies10
  • 7D-0.3%
  • 3M17.0%
  • 1Y23.3%
  • YTD19.9%

Last week, the Communications industry hasn't moved much but HMS Networks is up 4.9% in that time. As for the the longer term, the industry is up 23% over the past 12 months. In the next few years, earnings are forecast to decline by 4.9% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Mar 2026SEK 381.8bSEK 242.2bSEK 28.8b35.6x13.3x1.6x
Sun, 15 Feb 2026SEK 351.2bSEK 242.1bSEK 28.8b39.8x12.2x1.5x
Tue, 13 Jan 2026SEK 313.3bSEK 245.7bSEK 25.0b46x12.5x1.3x
Thu, 11 Dec 2025SEK 325.2bSEK 245.7bSEK 25.0b51.2x13x1.3x
Sat, 08 Nov 2025SEK 337.9bSEK 245.7bSEK 25.0b58.4x13.5x1.4x
Mon, 06 Oct 2025SEK 288.1bSEK 251.1bSEK 17.6b48x16.4x1.1x
Wed, 03 Sep 2025SEK 272.4bSEK 251.1bSEK 17.6b50.1x15.5x1.1x
Fri, 01 Aug 2025SEK 263.1bSEK 251.1bSEK 17.6b48.9x14.9x1x
Sun, 29 Jun 2025SEK 294.6bSEK 254.9bSEK 1.9b116.7x155.4x1.2x
Tue, 27 May 2025SEK 305.7bSEK 254.9bSEK 1.9b121x161.3x1.2x
Thu, 24 Apr 2025SEK 292.1bSEK 254.9bSEK 1.9b65.2x151.7x1.1x
Sat, 22 Mar 2025SEK 306.6bSEK 253.5bSEK 293.0m76.1x1046.3x1.2x
Mon, 17 Feb 2025SEK 314.6bSEK 253.6bSEK 302.9m83.3x1038.6x1.2x
Wed, 15 Jan 2025SEK 331.0bSEK 252.5b-SEK 1,052,139,568.0041.2x-314.6x1.3x
Fri, 13 Dec 2024SEK 330.8bSEK 252.5b-SEK 1,052,139,568.0042.2x-314.4x1.3x
Sun, 10 Nov 2024SEK 320.9bSEK 252.5b-SEK 1,039,310,568.0033.1x-308.7x1.3x
Tue, 08 Oct 2024SEK 282.3bSEK 255.1b-SEK 35,428,883,961.0037.8x-8x1.1x
Thu, 05 Sep 2024SEK 281.2bSEK 255.1b-SEK 35,428,883,961.0037.1x-7.9x1.1x
Sat, 03 Aug 2024SEK 263.0bSEK 255.1b-SEK 35,441,929,401.0035.9x-7.4x1x
Mon, 01 Jul 2024SEK 246.9bSEK 259.5b-SEK 24,911,100,401.0032.7x-9.9x1x
Wed, 29 May 2024SEK 240.3bSEK 259.5b-SEK 24,906,564,997.0030.9x-9.6x0.9x
Fri, 26 Apr 2024SEK 217.2bSEK 259.4b-SEK 24,922,753,227.0029.4x-8.7x0.8x
Sun, 24 Mar 2024SEK 219.3bSEK 268.8b-SEK 25,893,300,227.0027.5x-8.5x0.8x
Tue, 20 Feb 2024SEK 214.8bSEK 268.7b-SEK 25,907,696,425.0031.1x-8.3x0.8x
Thu, 18 Jan 2024SEK 240.9bSEK 282.8b-SEK 23,167,536,425.0033x-10.4x0.9x
Sat, 16 Dec 2023SEK 235.2bSEK 282.8b-SEK 23,167,536,425.0034.4x-10.2x0.8x
Mon, 13 Nov 2023SEK 191.8bSEK 282.8b-SEK 23,164,772,425.0024.6x-8.3x0.7x
Wed, 11 Oct 2023SEK 203.4bSEK 286.2bSEK 12.7b22.3x16x0.7x
Fri, 08 Sep 2023SEK 219.0bSEK 286.1bSEK 12.7b21.8x17.2x0.8x
Sun, 06 Aug 2023SEK 205.2bSEK 286.1bSEK 12.7b24.7x16.2x0.7x
Tue, 04 Jul 2023SEK 228.4bSEK 284.0bSEK 17.9b25.3x12.8x0.8x
Thu, 01 Jun 2023SEK 217.3bSEK 283.9bSEK 17.9b28.9x12.2x0.8x
Sat, 29 Apr 2023SEK 217.9bSEK 283.8bSEK 17.9b26.9x12.2x0.8x
Mon, 27 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 13.3x 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 Market-4.67%
Tech-2.11%
Communications-0.34%
Communications Equipment-0.34%
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
HMS HMS NetworksSEK 423.004.9%
+SEK 983.6m		-11.2%PE48.8x
MAVEN Maven Wireless SwedenSEK 4.9526.9%
+SEK 72.4m		-45.1%PS1.4x
WAYS Waystream HoldingSEK 44.1011.9%
+SEK 39.0m		70.3%PE35.6x
LUMEN LumenRadioSEK 58.001.8%
+SEK 12.6m		-22.7%PE38.2x
KEBNI B KebNiSEK 1.322.8%
+SEK 9.9m		-13.7%PS2.7x

Latest News

LUMEN
SEK 58.00
LumenRadio
7D
1.8%
1Y
-22.7%
GAPW B
SEK 10.92
Gapwaves
7D
0.4%
1Y
-12.6%
NETI B
SEK 2.27
Net Insight
7D
-7.5%
1Y
-53.0%

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 423.00
HMS Networks
7D
4.9%
1Y
-11.2%

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.
ERIC B
SEK 107.20
Telefonaktiebolaget LM Ericsson
7D
-0.6%
1Y
27.1%

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 44.10
Waystream Holding
7D
11.9%
1Y
70.3%
KEBNI B
SEK 1.32
KebNi
7D
2.8%
1Y
-13.7%
MAVEN
SEK 4.95
Maven Wireless Sweden
7D
26.9%
1Y
-45.1%
TAGM B
SEK 24.00
TagMaster
7D
-5.1%
1Y
61.1%

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 0.02
Free2move Holding
7D
11.1%
1Y
-28.6%