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Swedish (OMX) Communications Industry Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies10
  • 7D4.1%
  • 3M13.6%
  • 1Y17.0%
  • YTD17.3%

In the last week, the Communications industry is up 2.9%, with Telefonaktiebolaget LM Ericsson up 3.1%. This takes the industry's 12 month performance to a gain of 16%. As for the next few years, earnings are forecast to decline by 4.9% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Mar 2026SEK 373.7bSEK 242.2bSEK 28.8b31.6x13x1.5x
Sat, 31 Jan 2026SEK 345.9bSEK 242.2bSEK 28.8b48.1x12x1.4x
Mon, 29 Dec 2025SEK 323.7bSEK 245.7bSEK 25.0b47.4x12.9x1.3x
Wed, 26 Nov 2025SEK 330.8bSEK 245.7bSEK 25.0b54.3x13.2x1.3x
Fri, 24 Oct 2025SEK 328.8bSEK 245.7bSEK 25.0b58.1x13.1x1.3x
Sun, 21 Sep 2025SEK 281.4bSEK 251.1bSEK 17.6b50x16x1.1x
Tue, 19 Aug 2025SEK 271.2bSEK 251.1bSEK 17.6b50x15.4x1.1x
Thu, 17 Jul 2025SEK 265.4bSEK 251.1bSEK 17.6b44.1x15x1.1x
Sat, 14 Jun 2025SEK 289.5bSEK 254.9bSEK 1.9b113.5x152.7x1.1x
Mon, 12 May 2025SEK 293.3bSEK 254.9bSEK 1.9b117x154.7x1.2x
Wed, 09 Apr 2025SEK 259.6bSEK 252.9bSEK 302.6m64.2x857.7x1x
Fri, 07 Mar 2025SEK 319.0bSEK 253.5bSEK 295.3m76.4x1080.4x1.3x
Sun, 02 Feb 2025SEK 311.1bSEK 253.6bSEK 297.2m53.9x1046.9x1.2x
Tue, 31 Dec 2024SEK 327.2bSEK 252.5b-SEK 1,052,139,568.0042.3x-311x1.3x
Thu, 28 Nov 2024SEK 322.6bSEK 252.5b-SEK 1,052,139,568.0042.3x-306.6x1.3x
Sat, 26 Oct 2024SEK 325.8bSEK 252.5b-SEK 1,037,165,961.0033.3x-314.1x1.3x
Mon, 23 Sep 2024SEK 283.5bSEK 255.1b-SEK 35,428,883,961.0036.9x-8x1.1x
Wed, 21 Aug 2024SEK 272.1bSEK 255.1b-SEK 35,426,975,961.0034.4x-7.7x1.1x
Fri, 19 Jul 2024SEK 263.4bSEK 255.0b-SEK 35,461,487,401.0039.5x-7.4x1x
Sun, 16 Jun 2024SEK 233.2bSEK 259.5b-SEK 24,911,100,401.0031.3x-9.4x0.9x
Tue, 14 May 2024SEK 223.5bSEK 259.5b-SEK 24,894,925,997.0028.8x-9x0.9x
Thu, 11 Apr 2024SEK 210.3bSEK 268.8b-SEK 25,891,077,227.0028.4x-8.1x0.8x
Sat, 09 Mar 2024SEK 217.5bSEK 268.8b-SEK 25,891,554,425.0027.5x-8.4x0.8x
Mon, 05 Feb 2024SEK 217.3bSEK 268.7b-SEK 25,911,459,425.0031.6x-8.4x0.8x
Wed, 03 Jan 2024SEK 241.9bSEK 282.8b-SEK 23,167,536,425.0035.2x-10.4x0.9x
Fri, 01 Dec 2023SEK 200.1bSEK 282.8b-SEK 23,164,772,425.0033.4x-8.6x0.7x
Sun, 29 Oct 2023SEK 187.4bSEK 282.8b-SEK 23,176,756,962.0024.8x-8.1x0.7x
Tue, 26 Sep 2023SEK 209.0bSEK 286.1bSEK 12.7b21.5x16.4x0.7x
Thu, 24 Aug 2023SEK 206.0bSEK 286.1bSEK 12.7b21.5x16.2x0.7x
Sat, 22 Jul 2023SEK 202.9bSEK 286.1bSEK 12.7b25.5x16x0.7x
Mon, 19 Jun 2023SEK 225.5bSEK 284.0bSEK 17.9b27x12.6x0.8x
Wed, 17 May 2023SEK 212.2bSEK 283.9bSEK 17.9b29.1x11.9x0.7x
Fri, 14 Apr 2023SEK 231.5bSEK 276.1bSEK 19.2b26.6x12x0.8x
Sun, 12 Mar 2023SEK 223.1bSEK 276.0bSEK 19.2b30.9x11.6x0.8x
Price to Earnings Ratio

11.6x


Total Market Cap: SEK 223.1bTotal Earnings: SEK 19.2bTotal Revenue: SEK 276.0bTotal 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 13.0x 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-2.22%
Tech2.28%
Communications4.08%
Communications Equipment4.08%
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 103.702.1%
+SEK 7.0b		18.9%PE12.2x
NETI B Net InsightSEK 2.387.5%
+SEK 56.2m		-48.3%PS1.6x
GAPW B GapwavesSEK 12.6211.5%
+SEK 47.2m		-6.1%PS5.1x
WAYS Waystream HoldingSEK 41.004.9%
+SEK 24.9m		140.3%PE33.1x
LUMEN LumenRadioSEK 58.601.0%
+SEK 7.5m		-23.6%PE38.6x

Latest News

LUMEN
SEK 58.60
LumenRadio
7D
1.0%
1Y
-23.6%
ERIC B
SEK 103.70
Telefonaktiebolaget LM Ericsson
7D
2.1%
1Y
18.9%
GAPW B
SEK 12.62
Gapwaves
7D
11.5%
1Y
-6.1%

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 2.38
Net Insight
7D
7.5%
1Y
-48.3%

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).
HMS
SEK 401.60
HMS Networks
7D
-1.3%
1Y
-14.9%

HMS: Recent Rating Upgrades And Dividend Proposal Will Support Future Upside

Analysts have lifted their price target on HMS Networks to SEK 550, up from SEK 480, citing updated research that points to slightly stronger assumptions for long term growth and profitability, supported by recent rating upgrades. Analyst Commentary Recent research has pointed to a more constructive view on HMS Networks, with bullish analysts updating their models and signalling greater confidence in the company’s long term growth and profitability assumptions.
WAYS
SEK 41.00
Waystream Holding
7D
4.9%
1Y
140.3%
KEBNI B
SEK 1.43
KebNi
7D
-0.6%
1Y
-24.7%
MAVEN
SEK 3.91
Maven Wireless Sweden
7D
1.8%
1Y
-55.7%
TAGM B
SEK 25.10
TagMaster
7D
-2.7%
1Y
74.9%

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
INCOAX
SEK 0.51
InCoax Networks
7D
-6.2%
1Y
-69.3%
F2M
SEK 0.017
Free2move Holding
7D
-15.0%
1Y
-22.7%