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Swedish (OMX) Communications Industry Analysis

UpdatedMar 13, 2026
DataAggregated Company Financials
Companies10
  • 7D3.8%
  • 3M18.5%
  • 1Y28.2%
  • YTD20.3%

The Communications industry is up 3.8% in the last week, with Telefonaktiebolaget LM Ericsson up 4.1%. In the same time, Gapwaves was down 14%. This takes the industry's 12 month performance to a gain of 28%. Looking forward, earnings are forecast to decline by 5.0% per year.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 13 Mar 2026SEK 383.3bSEK 242.2bSEK 28.8b31.8x13.3x1.6x
Sun, 08 Feb 2026SEK 356.5bSEK 242.2bSEK 28.8b46.3x12.4x1.5x
Tue, 06 Jan 2026SEK 323.1bSEK 245.7bSEK 25.0b46.3x12.9x1.3x
Thu, 04 Dec 2025SEK 328.2bSEK 245.7bSEK 25.0b52.1x13.1x1.3x
Sat, 01 Nov 2025SEK 350.2bSEK 245.7bSEK 25.0b60.7x14x1.4x
Mon, 29 Sep 2025SEK 279.0bSEK 251.1bSEK 17.6b48.2x15.8x1.1x
Wed, 27 Aug 2025SEK 281.2bSEK 251.1bSEK 17.6b51.3x16x1.1x
Fri, 25 Jul 2025SEK 265.6bSEK 251.1bSEK 17.6b48.2x15.1x1.1x
Sun, 22 Jun 2025SEK 292.4bSEK 254.9bSEK 1.9b114.6x154.3x1.1x
Tue, 20 May 2025SEK 306.8bSEK 254.9bSEK 1.9b123.5x161.9x1.2x
Thu, 17 Apr 2025SEK 285.0bSEK 254.6bSEK 1.9b58.1x148.6x1.1x
Sat, 15 Mar 2025SEK 305.8bSEK 253.5bSEK 295.3m74.8x1035.6x1.2x
Mon, 10 Feb 2025SEK 308.8bSEK 253.6bSEK 294.5m68.5x1048.4x1.2x
Wed, 08 Jan 2025SEK 333.4bSEK 252.5b-SEK 1,052,139,568.0041.1x-316.9x1.3x
Fri, 06 Dec 2024SEK 331.7bSEK 252.5b-SEK 1,052,139,568.0042.2x-315.3x1.3x
Sun, 03 Nov 2024SEK 324.3bSEK 252.5b-SEK 1,032,762,568.0036.7x-314x1.3x
Tue, 01 Oct 2024SEK 282.3bSEK 255.1b-SEK 35,428,883,961.0037.9x-8x1.1x
Thu, 29 Aug 2024SEK 280.8bSEK 255.1b-SEK 35,428,009,961.0036.4x-7.9x1.1x
Sat, 27 Jul 2024SEK 265.8bSEK 255.1b-SEK 35,441,929,401.0037.6x-7.5x1x
Mon, 24 Jun 2024SEK 237.3bSEK 259.5b-SEK 24,911,100,401.0029.9x-9.5x0.9x
Wed, 22 May 2024SEK 237.1bSEK 259.5b-SEK 24,906,564,997.0030x-9.5x0.9x
Fri, 19 Apr 2024SEK 212.3bSEK 259.4b-SEK 24,913,077,227.0027.7x-8.5x0.8x
Sun, 17 Mar 2024SEK 225.6bSEK 268.8b-SEK 25,893,300,227.0027x-8.7x0.8x
Tue, 13 Feb 2024SEK 216.8bSEK 268.7b-SEK 25,911,459,425.0032.1x-8.4x0.8x
Thu, 11 Jan 2024SEK 240.5bSEK 282.8b-SEK 23,167,536,425.0032.4x-10.4x0.9x
Sat, 09 Dec 2023SEK 225.9bSEK 282.8b-SEK 23,164,772,425.0032.7x-9.8x0.8x
Mon, 06 Nov 2023SEK 192.7bSEK 282.8b-SEK 23,157,381,425.0024.3x-8.3x0.7x
Wed, 04 Oct 2023SEK 198.9bSEK 286.2bSEK 12.7b22.7x15.7x0.7x
Fri, 01 Sep 2023SEK 214.2bSEK 286.1bSEK 12.7b23.6x16.9x0.7x
Sun, 30 Jul 2023SEK 205.6bSEK 286.1bSEK 12.7b24.9x16.2x0.7x
Tue, 27 Jun 2023SEK 211.7bSEK 284.0bSEK 17.9b25.9x11.8x0.7x
Thu, 25 May 2023SEK 213.5bSEK 283.9bSEK 17.9b30.1x11.9x0.8x
Sat, 22 Apr 2023SEK 213.4bSEK 283.8bSEK 17.9b26.9x12x0.8x
Mon, 20 Mar 2023SEK 212.5bSEK 276.1bSEK 19.2b29.6x11.1x0.8x
Price to Earnings Ratio

11.1x


Total Market Cap: SEK 212.5bTotal 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-0.82%
Tech2.02%
Communications3.79%
Communications Equipment3.79%
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 107.904.1%
+SEK 14.0b		32.5%PE12.7x
HMS HMS NetworksSEK 403.400.4%
+SEK 90.3m		-11.2%PE46.5x
NETI B Net InsightSEK 2.463.4%
+SEK 27.2m		-48.3%PS1.6x
TAGM B TagMasterSEK 25.300.8%
+SEK 2.9m		67.5%PE17.5x

Latest News

NETI B
SEK 2.46
Net Insight
7D
3.4%
1Y
-48.3%

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).
HMS
SEK 403.40
HMS Networks
7D
0.4%
1Y
-11.2%

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 0.51
InCoax Networks
7D
-0.4%
1Y
-67.7%
ERIC B
SEK 107.90
Telefonaktiebolaget LM Ericsson
7D
4.1%
1Y
32.5%

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 57.00
LumenRadio
7D
-2.7%
1Y
-25.0%
GAPW B
SEK 10.88
Gapwaves
7D
-13.8%
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.
WAYS
SEK 39.40
Waystream Holding
7D
-3.9%
1Y
89.9%
KEBNI B
SEK 1.29
KebNi
7D
-9.9%
1Y
-33.2%
MAVEN
SEK 3.90
Maven Wireless Sweden
7D
-0.3%
1Y
-54.1%
TAGM B
SEK 25.30
TagMaster
7D
0.8%
1Y
67.5%

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