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Swedish (OMX) Communications Industry Analysis

UpdatedMar 15, 2026
DataAggregated Company Financials
Companies10
  • 7D5.1%
  • 3M19.0%
  • 1Y26.0%
  • YTD21.0%

Over the last 7 days, the Communications industry has risen 5.1%, driven by gains from Telefonaktiebolaget LM Ericsson of 5.4%. During this same period, the Gapwaves underperformed, falling 13%. This takes the industry's 12 month performance to a gain of 26%. 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
Sun, 15 Mar 2026SEK 385.3bSEK 242.2bSEK 28.8b31.7x13.4x1.6x
Tue, 10 Feb 2026SEK 359.1bSEK 242.2bSEK 28.8b46x12.5x1.5x
Thu, 08 Jan 2026SEK 328.8bSEK 245.7bSEK 25.0b46.8x13.1x1.3x
Sat, 06 Dec 2025SEK 327.5bSEK 245.7bSEK 25.0b52.2x13.1x1.3x
Mon, 03 Nov 2025SEK 350.2bSEK 245.7bSEK 25.0b60.7x14x1.4x
Wed, 01 Oct 2025SEK 284.7bSEK 251.1bSEK 17.6b47.4x16.2x1.1x
Fri, 29 Aug 2025SEK 278.6bSEK 251.1bSEK 17.6b51.4x15.8x1.1x
Sun, 27 Jul 2025SEK 263.4bSEK 251.2bSEK 17.6b47.5x15x1x
Tue, 24 Jun 2025SEK 286.7bSEK 254.9bSEK 1.9b112.7x151.2x1.1x
Thu, 22 May 2025SEK 314.4bSEK 254.9bSEK 1.9b125.2x165.9x1.2x
Sat, 19 Apr 2025SEK 283.6bSEK 254.6bSEK 1.9b56.7x147.9x1.1x
Mon, 17 Mar 2025SEK 305.8bSEK 253.5bSEK 295.3m74.8x1035.6x1.2x
Wed, 12 Feb 2025SEK 313.2bSEK 253.6bSEK 294.5m68.5x1063.3x1.2x
Fri, 10 Jan 2025SEK 338.2bSEK 252.5b-SEK 1,052,139,568.0041x-321.4x1.3x
Sun, 08 Dec 2024SEK 329.7bSEK 252.5b-SEK 1,052,139,568.0042.6x-313.3x1.3x
Tue, 05 Nov 2024SEK 324.3bSEK 252.5b-SEK 1,032,762,568.0036.1x-314x1.3x
Thu, 03 Oct 2024SEK 278.2bSEK 255.1b-SEK 35,428,883,961.0037.1x-7.9x1.1x
Sat, 31 Aug 2024SEK 283.1bSEK 255.1b-SEK 35,428,883,961.0036.4x-8x1.1x
Mon, 29 Jul 2024SEK 265.8bSEK 255.1b-SEK 35,441,929,401.0037.6x-7.5x1x
Wed, 26 Jun 2024SEK 241.5bSEK 259.5b-SEK 24,911,100,401.0029.6x-9.7x0.9x
Fri, 24 May 2024SEK 241.7bSEK 259.5b-SEK 24,906,564,997.0030.6x-9.7x0.9x
Sun, 21 Apr 2024SEK 215.4bSEK 259.4b-SEK 24,913,077,227.0028x-8.6x0.8x
Tue, 19 Mar 2024SEK 213.7bSEK 268.8b-SEK 25,893,300,227.0027x-8.3x0.8x
Thu, 15 Feb 2024SEK 210.8bSEK 268.7b-SEK 25,927,009,425.0032.9x-8.1x0.8x
Sat, 13 Jan 2024SEK 244.4bSEK 282.8b-SEK 23,167,536,425.0032.4x-10.5x0.9x
Mon, 11 Dec 2023SEK 225.9bSEK 282.8b-SEK 23,164,772,425.0032.7x-9.8x0.8x
Wed, 08 Nov 2023SEK 193.6bSEK 282.8b-SEK 23,157,381,425.0023.4x-8.4x0.7x
Fri, 06 Oct 2023SEK 199.2bSEK 286.2bSEK 12.7b22.6x15.7x0.7x
Sun, 03 Sep 2023SEK 215.6bSEK 286.1bSEK 12.7b22.6x17x0.8x
Tue, 01 Aug 2023SEK 203.6bSEK 286.1bSEK 12.7b25.6x16x0.7x
Thu, 29 Jun 2023SEK 211.7bSEK 284.0bSEK 17.9b25.8x11.8x0.7x
Sat, 27 May 2023SEK 220.1bSEK 283.9bSEK 17.9b30.5x12.3x0.8x
Mon, 24 Apr 2023SEK 213.4bSEK 283.8bSEK 17.9b26.9x12x0.8x
Wed, 22 Mar 2023SEK 214.0bSEK 276.1bSEK 19.2b29x11.1x0.8x
Price to Earnings Ratio

11.1x


Total Market Cap: SEK 214.0bTotal 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 13.4x 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-1.13%
Tech2.87%
Communications5.07%
Communications Equipment5.07%
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 108.605.4%
+SEK 18.7b		30.3%PE12.7x
MAVEN Maven Wireless SwedenSEK 4.5016.0%
+SEK 33.0m		-49.7%PS1.2x
HMS HMS NetworksSEK 399.600.1%
+SEK 20.1m		-13.5%PE46.1x

Latest News

GAPW B
SEK 11.20
Gapwaves
7D
-12.5%
1Y
-18.8%

GAPW B: New ADAS Radar Contracts Will Support Future Upside Potential

Analysts have kept their SEK22.50 price target for Gapwaves unchanged, pointing to only very small tweaks in assumptions such as the discount rate and long term P/E as the reason for maintaining their view. What's in the News Gapwaves received an order of about SEK 1,000,000 from Desay SV to design, develop, and deliver waveguide antenna prototypes for next generation automotive front radar sensors aimed at ADAS, with deliveries planned across the first quarter and second quarter of 2026 (Key Developments).
NETI B
SEK 2.34
Net Insight
7D
-2.5%
1Y
-50.9%

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 399.60
HMS Networks
7D
0.1%
1Y
-13.5%

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 0.52
InCoax Networks
7D
-4.1%
1Y
-69.0%
ERIC B
SEK 108.60
Telefonaktiebolaget LM Ericsson
7D
5.4%
1Y
30.3%

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 56.20
LumenRadio
7D
-1.7%
1Y
-25.2%
WAYS
SEK 39.30
Waystream Holding
7D
-2.2%
1Y
81.1%
KEBNI B
SEK 1.28
KebNi
7D
-8.2%
1Y
-34.3%
MAVEN
SEK 4.50
Maven Wireless Sweden
7D
16.0%
1Y
-49.7%
TAGM B
SEK 24.80
TagMaster
7D
-0.8%
1Y
64.2%

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
F2M
SEK 0.018
Free2move Holding
7D
-5.3%
1Y
-35.7%