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Swedish (OMX) Communications Industry Analysis

UpdatedMar 26, 2026
DataAggregated Company Financials
Companies10
  • 7D-0.8%
  • 3M19.5%
  • 1Y28.4%
  • YTD21.4%

Over the last 7 days, the Communications industry has dropped 3.9%, driven by a pullback from Telefonaktiebolaget LM Ericsson of 3.8%. Meanwhile, KebNi actually outperformed within the industry, gaining 8.7% in the last week. Over the past 12 months, the industry was up 24%. 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
Thu, 26 Mar 2026SEK 386.6bSEK 242.2bSEK 28.8b34.6x13.4x1.6x
Sat, 21 Feb 2026SEK 363.3bSEK 242.1bSEK 28.8b39.7x12.6x1.5x
Mon, 19 Jan 2026SEK 316.0bSEK 245.7bSEK 25.0b46.3x12.6x1.3x
Wed, 17 Dec 2025SEK 325.0bSEK 245.7bSEK 25.0b51x13x1.3x
Fri, 14 Nov 2025SEK 342.5bSEK 245.7bSEK 25.0b57.9x13.7x1.4x
Sun, 12 Oct 2025SEK 291.0bSEK 251.1bSEK 17.6b50x16.5x1.2x
Tue, 09 Sep 2025SEK 276.3bSEK 251.1bSEK 17.6b50.4x15.7x1.1x
Thu, 07 Aug 2025SEK 264.3bSEK 251.1bSEK 17.6b48.3x15x1.1x
Sat, 05 Jul 2025SEK 299.3bSEK 254.9bSEK 1.9b119.1x157.9x1.2x
Mon, 02 Jun 2025SEK 297.4bSEK 254.9bSEK 1.9b119x156.9x1.2x
Wed, 30 Apr 2025SEK 292.5bSEK 254.9bSEK 1.9b116.7x151.7x1.1x
Fri, 28 Mar 2025SEK 292.1bSEK 252.9bSEK 302.6m74.4x965.1x1.2x
Sun, 23 Feb 2025SEK 314.4bSEK 253.5bSEK 289.7m81x1085.4x1.2x
Tue, 21 Jan 2025SEK 344.1bSEK 252.5b-SEK 1,052,139,568.0042.6x-327x1.4x
Thu, 19 Dec 2024SEK 330.3bSEK 252.5b-SEK 1,052,139,568.0040.7x-313.9x1.3x
Sat, 16 Nov 2024SEK 318.5bSEK 252.5b-SEK 1,039,310,568.0033.3x-306.4x1.3x
Mon, 14 Oct 2024SEK 284.2bSEK 255.1b-SEK 35,428,883,961.0037.5x-8x1.1x
Wed, 11 Sep 2024SEK 278.6bSEK 255.1b-SEK 35,428,883,961.0036.6x-7.9x1.1x
Fri, 09 Aug 2024SEK 259.8bSEK 255.1b-SEK 35,441,929,401.0034.7x-7.3x1x
Sun, 07 Jul 2024SEK 245.5bSEK 259.5b-SEK 24,911,100,401.0031.7x-9.9x0.9x
Tue, 04 Jun 2024SEK 246.4bSEK 259.5b-SEK 24,906,564,997.0030.6x-9.9x0.9x
Thu, 02 May 2024SEK 214.5bSEK 259.5b-SEK 24,910,449,227.0028.8x-8.6x0.8x
Sat, 30 Mar 2024SEK 220.2bSEK 268.8b-SEK 25,893,655,227.0029.6x-8.5x0.8x
Mon, 26 Feb 2024SEK 215.3bSEK 268.8b-SEK 25,887,446,425.0026.9x-8.3x0.8x
Wed, 24 Jan 2024SEK 241.9bSEK 268.7b-SEK 25,839,536,425.0033.1x-9.4x0.9x
Fri, 22 Dec 2023SEK 235.8bSEK 282.8b-SEK 23,167,536,425.0035.5x-10.2x0.8x
Sun, 19 Nov 2023SEK 199.6bSEK 282.8b-SEK 23,164,772,425.0028.1x-8.6x0.7x
Tue, 17 Oct 2023SEK 202.4bSEK 286.2bSEK 12.7b21.5x15.9x0.7x
Thu, 14 Sep 2023SEK 210.5bSEK 286.1bSEK 12.7b21.8x16.6x0.7x
Sat, 12 Aug 2023SEK 206.1bSEK 286.1bSEK 12.7b24x16.2x0.7x
Mon, 10 Jul 2023SEK 223.5bSEK 284.0bSEK 17.9b24.9x12.5x0.8x
Wed, 07 Jun 2023SEK 219.9bSEK 284.0bSEK 17.9b28.2x12.3x0.8x
Fri, 05 May 2023SEK 214.6bSEK 283.9bSEK 17.9b29.8x12x0.8x
Sun, 02 Apr 2023SEK 229.6bSEK 276.1bSEK 19.2b27.3x11.9x0.8x
Price to Earnings Ratio

11.9x


Total Market Cap: SEK 229.6bTotal 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-2.46%
Tech-1.49%
Communications-0.85%
Communications Equipment-0.85%
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
LUMEN LumenRadioSEK 58.909.1%
+SEK 61.7m		-20.3%PE38.8x
NETI B Net InsightSEK 2.396.0%
+SEK 46.0m		-49.0%PS1.6x
KEBNI B KebNiSEK 1.363.8%
+SEK 13.7m		-14.1%PS2.8x
GAPW B GapwavesSEK 10.982.8%
+SEK 10.9m		-20.9%PS4.4x
WAYS Waystream HoldingSEK 42.901.4%
+SEK 5.0m		73.0%PE34.6x

Latest News

HMS
SEK 414.00
HMS Networks
7D
-5.7%
1Y
-9.4%

HMS: Recent Upgrades And Proposed Dividend Are Expected To Drive Future Upside

Analysts have raised their fair value estimate for HMS Networks to SEK 570 from SEK 550, reflecting updated assumptions for slightly higher revenue growth, profit margins and future P/E, supported by recent upgrades from Nordea and Pareto. Analyst Commentary Recent research updates point to a more constructive view on HMS Networks, with bullish analysts revisiting their assumptions on growth, profitability and valuation.
KEBNI B
SEK 1.36
KebNi
7D
3.8%
1Y
-14.1%
ERIC B
SEK 108.80
Telefonaktiebolaget LM Ericsson
7D
-0.6%
1Y
32.6%

ERIC B: Cost Cuts And 6G Hype Will Likely Fail To Justify Valuation

Ericsson's analyst price target has moved from SEK 62 to SEK 65, as analysts factor in expected earnings benefits from cost cuts and identified growth opportunities highlighted in recent research updates. Analyst Commentary Recent Street research on Telefonaktiebolaget LM Ericsson has included a mix of price target adjustments and a rating upgrade, reflecting differing views on how effectively the company can convert cost savings and identified opportunities into sustained earnings.
LUMEN
SEK 58.90
LumenRadio
7D
9.1%
1Y
-20.3%
GAPW B
SEK 10.98
Gapwaves
7D
2.8%
1Y
-20.9%
NETI B
SEK 2.39
Net Insight
7D
6.0%
1Y
-49.0%

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).
INCOAX
SEK 0.49
InCoax Networks
7D
-4.1%
1Y
-70.9%
WAYS
SEK 42.90
Waystream Holding
7D
1.4%
1Y
73.0%
MAVEN
SEK 4.85
Maven Wireless Sweden
7D
-2.6%
1Y
-51.4%
TAGM B
SEK 24.40
TagMaster
7D
-2.8%
1Y
69.4%

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