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Swedish (OMX) Communications Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies10
  • 7D2.9%
  • 3M12.9%
  • 1Y15.5%
  • YTD17.2%

Over the last 7 days, the Communications industry has risen 2.9%, driven by gains from Telefonaktiebolaget LM Ericsson of 3.7%. In the same time, InCoax Networks was down 10%. In the last 12 months, the industry was up 16%. 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
Wed, 04 Mar 2026SEK 373.4bSEK 242.2bSEK 28.8b30.4x13x1.5x
Fri, 30 Jan 2026SEK 344.3bSEK 242.2bSEK 28.8b48.2x11.9x1.4x
Sun, 28 Dec 2025SEK 323.7bSEK 245.7bSEK 25.0b47.4x12.9x1.3x
Tue, 25 Nov 2025SEK 328.1bSEK 245.7bSEK 25.0b53.4x13.1x1.3x
Thu, 23 Oct 2025SEK 327.0bSEK 245.7bSEK 25.0b56.8x13.1x1.3x
Sat, 20 Sep 2025SEK 281.4bSEK 251.1bSEK 17.6b50x16x1.1x
Mon, 18 Aug 2025SEK 272.4bSEK 251.1bSEK 17.6b49x15.5x1.1x
Wed, 16 Jul 2025SEK 262.8bSEK 254.9bSEK 1.9b101.5x135x1x
Fri, 13 Jun 2025SEK 293.5bSEK 254.9bSEK 1.9b115.8x154.9x1.2x
Sun, 11 May 2025SEK 293.3bSEK 254.9bSEK 1.9b117x154.7x1.2x
Tue, 08 Apr 2025SEK 253.4bSEK 252.9bSEK 302.6m61.9x837.2x1x
Thu, 06 Mar 2025SEK 319.2bSEK 253.5bSEK 278.2m78x1147.5x1.3x
Sat, 01 Feb 2025SEK 311.1bSEK 253.6bSEK 297.2m53.9x1046.8x1.2x
Mon, 30 Dec 2024SEK 327.1bSEK 252.5b-SEK 1,052,139,568.0042.2x-310.9x1.3x
Wed, 27 Nov 2024SEK 324.3bSEK 252.5b-SEK 1,052,139,568.0042.6x-308.2x1.3x
Fri, 25 Oct 2024SEK 323.9bSEK 252.5b-SEK 1,037,165,961.0034.8x-312.3x1.3x
Sun, 22 Sep 2024SEK 283.5bSEK 255.1b-SEK 35,428,883,961.0036.9x-8x1.1x
Tue, 20 Aug 2024SEK 274.0bSEK 255.1b-SEK 35,426,975,961.0034.8x-7.7x1.1x
Thu, 18 Jul 2024SEK 262.8bSEK 255.0b-SEK 35,461,486,401.0039.8x-7.4x1x
Sat, 15 Jun 2024SEK 233.2bSEK 259.5b-SEK 24,911,100,401.0031.3x-9.4x0.9x
Mon, 13 May 2024SEK 221.6bSEK 259.5b-SEK 24,894,925,997.0029.1x-8.9x0.9x
Wed, 10 Apr 2024SEK 212.8bSEK 268.8b-SEK 25,891,077,227.0028.5x-8.2x0.8x
Fri, 08 Mar 2024SEK 217.6bSEK 268.8b-SEK 25,891,554,425.0027.7x-8.4x0.8x
Sun, 04 Feb 2024SEK 217.3bSEK 268.7b-SEK 25,911,459,425.0031.6x-8.4x0.8x
Tue, 02 Jan 2024SEK 240.0bSEK 282.8b-SEK 23,167,536,425.0035.4x-10.4x0.8x
Thu, 30 Nov 2023SEK 202.4bSEK 282.8b-SEK 23,164,772,425.0033.8x-8.7x0.7x
Sat, 28 Oct 2023SEK 187.4bSEK 282.7b-SEK 23,184,748,962.0026.3x-8.1x0.7x
Mon, 25 Sep 2023SEK 213.7bSEK 286.1bSEK 12.7b22.4x16.8x0.7x
Wed, 23 Aug 2023SEK 206.6bSEK 286.1bSEK 12.7b21.6x16.3x0.7x
Fri, 21 Jul 2023SEK 202.8bSEK 286.1bSEK 12.7b25.2x16x0.7x
Sun, 18 Jun 2023SEK 225.5bSEK 284.0bSEK 17.9b27x12.6x0.8x
Tue, 16 May 2023SEK 213.7bSEK 283.9bSEK 17.9b30.5x12x0.8x
Thu, 13 Apr 2023SEK 230.2bSEK 276.1bSEK 19.2b26.7x12x0.8x
Sat, 11 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 Market1.88%
Tech3.45%
Communications2.89%
Communications Equipment2.89%
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 102.953.1%
+SEK 10.3b		20.6%PE12.1x
HMS HMS NetworksSEK 397.802.4%
+SEK 461.7m		-16.8%PE45.9x
GAPW B GapwavesSEK 11.329.7%
+SEK 36.3m		-13.7%PS4.5x
LUMEN LumenRadioSEK 59.704.9%
+SEK 35.2m		-26.3%PE43.6x
TAGM B TagMasterSEK 25.002.5%
+SEK 8.8m		81.8%PE17.3x

Latest News

ERIC B
SEK 102.95
Telefonaktiebolaget LM Ericsson
7D
3.1%
1Y
20.6%
GAPW B
SEK 11.32
Gapwaves
7D
9.7%
1Y
-13.7%

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 2.19
Net Insight
7D
-4.8%
1Y
-53.8%

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 397.80
HMS Networks
7D
2.4%
1Y
-16.8%

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 39.00
Waystream Holding
7D
-0.8%
1Y
144.1%
KEBNI B
SEK 1.42
KebNi
7D
-4.9%
1Y
1.0%
MAVEN
SEK 4.00
Maven Wireless Sweden
7D
-2.4%
1Y
-54.3%
TAGM B
SEK 25.00
TagMaster
7D
2.5%
1Y
81.8%

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
LUMEN
SEK 59.70
LumenRadio
7D
4.9%
1Y
-26.3%

LumenRadio (STO:LUMEN) Is Looking To Continue Growing Its Returns On Capital

Feb 10
LumenRadio (STO:LUMEN) Is Looking To Continue Growing Its Returns On Capital
INCOAX
SEK 0.49
InCoax Networks
7D
-11.1%
1Y
-72.2%
F2M
SEK 0.021
Free2move Holding
7D
5.0%
1Y
0%