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Swedish (OMX) Communications Industry Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies10
  • 7D0.2%
  • 3M9.4%
  • 1Y11.1%
  • YTD13.7%

The Communications is pretty flat in the last 7 days, but LumenRadio has stood out, gaining 10%. The past year has been better, since the industry has gained 10% in that time. 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, 27 Feb 2026SEK 362.4bSEK 242.2bSEK 28.8b30.6x12.6x1.5x
Sun, 25 Jan 2026SEK 339.2bSEK 242.0bSEK 28.8b46x11.8x1.4x
Tue, 23 Dec 2025SEK 326.4bSEK 245.7bSEK 25.0b47.9x13x1.3x
Thu, 20 Nov 2025SEK 326.9bSEK 245.7bSEK 25.0b53.9x13.1x1.3x
Sat, 18 Oct 2025SEK 324.6bSEK 245.6bSEK 25.0b59.9x13x1.3x
Mon, 15 Sep 2025SEK 274.8bSEK 251.1bSEK 17.6b49.9x15.6x1.1x
Wed, 13 Aug 2025SEK 269.9bSEK 251.1bSEK 17.6b47.8x15.3x1.1x
Fri, 11 Jul 2025SEK 287.3bSEK 254.9bSEK 1.9b115.3x151.6x1.1x
Sun, 08 Jun 2025SEK 302.8bSEK 254.9bSEK 1.9b121.3x159.8x1.2x
Tue, 06 May 2025SEK 294.1bSEK 254.9bSEK 1.9b117.5x154.6x1.2x
Thu, 03 Apr 2025SEK 285.9bSEK 252.9bSEK 302.6m73.7x944.7x1.1x
Sat, 01 Mar 2025SEK 326.3bSEK 253.5bSEK 284.9m78.9x1145.4x1.3x
Mon, 27 Jan 2025SEK 312.5bSEK 253.5bSEK 332.9m54.2x938.9x1.2x
Wed, 25 Dec 2024SEK 325.1bSEK 252.5b-SEK 1,052,139,568.0041.7x-309x1.3x
Fri, 22 Nov 2024SEK 317.5bSEK 252.5b-SEK 1,049,129,568.0042.6x-302.6x1.3x
Sun, 20 Oct 2024SEK 322.4bSEK 252.5b-SEK 1,037,214,961.0040.1x-310.8x1.3x
Tue, 17 Sep 2024SEK 278.0bSEK 255.1b-SEK 35,428,883,961.0036.8x-7.8x1.1x
Thu, 15 Aug 2024SEK 265.6bSEK 255.1b-SEK 35,441,929,401.0035.1x-7.5x1x
Sat, 13 Jul 2024SEK 264.5bSEK 259.5b-SEK 24,911,100,401.0033.1x-10.6x1x
Mon, 10 Jun 2024SEK 248.9bSEK 259.5b-SEK 24,911,100,401.0030.9x-10x1x
Wed, 08 May 2024SEK 221.5bSEK 259.5b-SEK 24,902,442,227.0029x-8.9x0.9x
Fri, 05 Apr 2024SEK 216.5bSEK 268.8b-SEK 25,891,077,227.0028.4x-8.4x0.8x
Sun, 03 Mar 2024SEK 215.7bSEK 268.8b-SEK 25,891,554,425.0026.7x-8.3x0.8x
Tue, 30 Jan 2024SEK 229.8bSEK 268.7b-SEK 25,880,323,425.0033x-8.9x0.9x
Thu, 28 Dec 2023SEK 240.2bSEK 282.8b-SEK 23,167,536,425.0034.8x-10.4x0.8x
Sat, 25 Nov 2023SEK 201.8bSEK 282.8b-SEK 23,164,772,425.0033.4x-8.7x0.7x
Mon, 23 Oct 2023SEK 186.8bSEK 282.8b-SEK 23,158,109,962.0027.4x-8.1x0.7x
Wed, 20 Sep 2023SEK 212.7bSEK 286.1bSEK 12.7b22.1x16.7x0.7x
Fri, 18 Aug 2023SEK 204.1bSEK 286.1bSEK 12.7b23.1x16.1x0.7x
Sun, 16 Jul 2023SEK 201.2bSEK 286.1bSEK 12.7b24.7x15.8x0.7x
Tue, 13 Jun 2023SEK 220.6bSEK 284.0bSEK 17.9b28.8x12.3x0.8x
Thu, 11 May 2023SEK 210.6bSEK 283.9bSEK 17.9b29.1x11.8x0.7x
Sat, 08 Apr 2023SEK 234.2bSEK 276.1bSEK 19.2b26.7x12.2x0.8x
Mon, 06 Mar 2023SEK 229.0bSEK 275.7bSEK 19.2b33.3x11.9x0.8x
Price to Earnings Ratio

11.9x


Total Market Cap: SEK 229.0bTotal Earnings: SEK 19.2bTotal Revenue: SEK 275.7bTotal 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 12.5x 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 Market1.54%
Tech1.42%
Communications0.18%
Communications Equipment0.18%
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 406.803.6%
+SEK 712.6m		-17.1%PE46.9x
LUMEN LumenRadioSEK 58.007.4%
+SEK 50.3m		-33.2%PE42.4x
NETI B Net InsightSEK 2.216.5%
+SEK 46.0m		-55.5%PS1.4x
TAGM B TagMasterSEK 25.8011.2%
+SEK 38.1m		76.7%PE17.8x
GAPW B GapwavesSEK 11.325.8%
+SEK 22.5m		-16.0%PS4.5x

Latest News

ERIC B
SEK 101.60
Telefonaktiebolaget LM Ericsson
7D
-0.05%
1Y
14.1%
GAPW B
SEK 11.32
Gapwaves
7D
5.8%
1Y
-16.0%

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 2.21
Net Insight
7D
6.5%
1Y
-55.5%

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 406.80
HMS Networks
7D
3.6%
1Y
-17.1%

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 39.10
Waystream Holding
7D
-0.5%
1Y
139.3%
KEBNI B
SEK 1.44
KebNi
7D
-5.4%
1Y
6.5%
MAVEN
SEK 3.84
Maven Wireless Sweden
7D
-5.4%
1Y
-57.5%
TAGM B
SEK 25.80
TagMaster
7D
11.2%
1Y
76.7%

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 58.00
LumenRadio
7D
7.4%
1Y
-33.2%

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 0.55
InCoax Networks
7D
1.5%
1Y
-63.6%