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Swedish (OMX) Communications Industry Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies10
  • 7D-2.1%
  • 3M10.6%
  • 1Y15.9%
  • YTD14.3%

Over the last 7 days, the Communications industry has dropped 2.1%, driven by Telefonaktiebolaget LM Ericsson declining 2.0%. Over the past 12 months, the industry was up 16%. As for the next few years, earnings are forecast to decline by 5.0% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026SEK 364.1bSEK 242.2bSEK 28.8b31.9x12.6x1.5x
Thu, 05 Feb 2026SEK 356.8bSEK 242.2bSEK 28.8b47x12.4x1.5x
Sat, 03 Jan 2026SEK 318.4bSEK 245.7bSEK 25.0b46.1x12.7x1.3x
Mon, 01 Dec 2025SEK 331.2bSEK 245.7bSEK 25.0b54x13.2x1.3x
Wed, 29 Oct 2025SEK 336.0bSEK 245.7bSEK 25.0b61x13.4x1.4x
Fri, 26 Sep 2025SEK 284.0bSEK 251.1bSEK 17.6b48.5x16.1x1.1x
Sun, 24 Aug 2025SEK 279.5bSEK 251.1bSEK 17.6b50.9x15.9x1.1x
Tue, 22 Jul 2025SEK 268.0bSEK 251.1bSEK 17.6b47.9x15.2x1.1x
Thu, 19 Jun 2025SEK 292.6bSEK 254.9bSEK 1.9b114.4x154.4x1.1x
Sat, 17 May 2025SEK 306.8bSEK 254.9bSEK 1.9b123.6x161.9x1.2x
Mon, 14 Apr 2025SEK 257.0bSEK 252.9bSEK 302.6m56.1x849.3x1x
Wed, 12 Mar 2025SEK 304.3bSEK 253.5bSEK 295.3m73.3x1030.8x1.2x
Fri, 07 Feb 2025SEK 308.9bSEK 253.6bSEK 297.2m55x1039.1x1.2x
Sun, 05 Jan 2025SEK 330.3bSEK 252.5b-SEK 1,052,139,568.0042.1x-313.9x1.3x
Tue, 03 Dec 2024SEK 325.5bSEK 252.5b-SEK 1,052,139,568.0042.7x-309.3x1.3x
Thu, 31 Oct 2024SEK 328.2bSEK 252.5b-SEK 1,031,683,961.0034.7x-318.1x1.3x
Sat, 28 Sep 2024SEK 286.0bSEK 255.1b-SEK 35,428,883,961.0036.1x-8.1x1.1x
Mon, 26 Aug 2024SEK 278.3bSEK 255.1b-SEK 35,428,011,961.0035.9x-7.9x1.1x
Wed, 24 Jul 2024SEK 264.2bSEK 255.1b-SEK 35,441,929,401.0037.3x-7.5x1x
Fri, 21 Jun 2024SEK 237.3bSEK 259.5b-SEK 24,911,100,401.0029.9x-9.5x0.9x
Sun, 19 May 2024SEK 234.6bSEK 259.5b-SEK 24,900,625,997.0030.6x-9.4x0.9x
Tue, 16 Apr 2024SEK 205.7bSEK 268.8b-SEK 25,891,077,227.0028.1x-7.9x0.8x
Thu, 14 Mar 2024SEK 222.9bSEK 268.8b-SEK 25,893,300,227.0027.8x-8.6x0.8x
Sat, 10 Feb 2024SEK 217.6bSEK 268.7b-SEK 25,911,459,425.0031.4x-8.4x0.8x
Mon, 08 Jan 2024SEK 237.9bSEK 282.8b-SEK 23,167,536,425.0031.6x-10.3x0.8x
Wed, 06 Dec 2023SEK 219.1bSEK 282.8b-SEK 23,164,772,425.0032.5x-9.5x0.8x
Fri, 03 Nov 2023SEK 191.4bSEK 282.8b-SEK 23,171,020,962.0023.8x-8.3x0.7x
Sun, 01 Oct 2023SEK 202.1bSEK 286.2bSEK 12.7b22.4x15.9x0.7x
Tue, 29 Aug 2023SEK 207.7bSEK 286.1bSEK 12.7b21.7x16.3x0.7x
Thu, 27 Jul 2023SEK 205.4bSEK 286.1bSEK 12.7b24.8x16.2x0.7x
Sat, 24 Jun 2023SEK 211.0bSEK 284.0bSEK 17.9b26.4x11.8x0.7x
Mon, 22 May 2023SEK 216.8bSEK 283.9bSEK 17.9b29.9x12.1x0.8x
Wed, 19 Apr 2023SEK 219.3bSEK 276.1bSEK 19.2b27.6x11.4x0.8x
Fri, 17 Mar 2023SEK 214.3bSEK 276.1bSEK 19.2b30.1x11.2x0.8x
Price to Earnings Ratio

11.2x


Total Market Cap: SEK 214.3bTotal 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 12.6x 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 1.5x.
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-4.91%
Tech-2.82%
Communications-2.12%
Communications Equipment-2.12%
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 104.351.4%
+SEK 4.7b		25.5%PE12.2x
HMS HMS NetworksSEK 401.200.9%
+SEK 170.6m		-11.4%PE46.3x
NETI B Net InsightSEK 2.367.8%
+SEK 57.9m		-48.4%PS1.5x
GAPW B GapwavesSEK 11.763.9%
+SEK 16.0m		-6.5%PS4.7x
WAYS Waystream HoldingSEK 40.002.6%
+SEK 8.3m		98.5%PE32.3x

Latest News

HMS
SEK 401.20
HMS Networks
7D
0.9%
1Y
-11.4%

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 0.54
InCoax Networks
7D
10.5%
1Y
-68.5%
ERIC B
SEK 104.35
Telefonaktiebolaget LM Ericsson
7D
1.4%
1Y
25.5%

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.
LUMEN
SEK 56.30
LumenRadio
7D
-5.7%
1Y
-25.9%
GAPW B
SEK 11.76
Gapwaves
7D
3.9%
1Y
-6.5%

GAPW B: New ADAS Radar Contracts Will Support Future Upside Potential

Narrative update on Gapwaves Analysts have kept their Gapwaves fair value estimate unchanged at SEK22.5 per share, with slight adjustments to the discount rate, long-term revenue growth, profit margin and future P/E assumptions. These revisions support a steady view of the price target.
NETI B
SEK 2.36
Net Insight
7D
7.8%
1Y
-48.4%

NETI B: Future CEO Transition Will Support Long-Term Earnings Outlook

Analysts have reduced their fair value estimate for Net Insight from SEK 9.0 to SEK 5.5, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News Net Insight issued earnings guidance for the fourth quarter of 2025, indicating expected net sales of approximately SEK 117 million compared with SEK 134 million and EBIT of approximately SEK 5 million, which is in line with SEK 5 million previously reported (company guidance).
WAYS
SEK 40.00
Waystream Holding
7D
2.6%
1Y
98.5%
KEBNI B
SEK 1.27
KebNi
7D
-10.7%
1Y
-43.2%
TAGM B
SEK 24.80
TagMaster
7D
-0.8%
1Y
72.8%

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