Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swedish (OMX) Communications Industry Analysis

UpdatedDec 18, 2025
DataAggregated Company Financials
Companies10
  • 7D-0.4%
  • 3M15.8%
  • 1Y-1.9%
  • YTD-2.1%

Over the last 7 days, the Communications industry has dropped 1.3%, driven by HMS Networks declining 4.1%. Meanwhile, Waystream Holding actually outperformed within the industry, gaining 10% in the last week. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to decline by 8.9% per year.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Dec 2025SEK 324.2bSEK 245.7bSEK 25.0b49.1x12.9x1.3x
Sat, 15 Nov 2025SEK 338.6bSEK 245.7bSEK 25.0b56.3x13.5x1.4x
Mon, 13 Oct 2025SEK 291.0bSEK 251.1bSEK 17.6b50x16.5x1.2x
Wed, 10 Sep 2025SEK 279.3bSEK 251.1bSEK 17.6b50.4x15.9x1.1x
Fri, 08 Aug 2025SEK 266.4bSEK 251.1bSEK 17.6b49.2x15.1x1.1x
Sun, 06 Jul 2025SEK 299.3bSEK 254.9bSEK 1.9b119.1x157.9x1.2x
Tue, 03 Jun 2025SEK 299.1bSEK 254.9bSEK 1.9b118.8x157.8x1.2x
Thu, 01 May 2025SEK 296.3bSEK 254.9bSEK 1.9b118.3x153.7x1.2x
Sat, 29 Mar 2025SEK 289.7bSEK 252.9bSEK 302.6m73.2x957.3x1.1x
Mon, 24 Feb 2025SEK 314.4bSEK 253.5bSEK 289.7m81x1085.4x1.2x
Wed, 22 Jan 2025SEK 346.2bSEK 252.5b-SEK 1,052,139,568.0044x-329x1.4x
Fri, 20 Dec 2024SEK 325.0bSEK 252.5b-SEK 1,052,139,568.0039.8x-308.9x1.3x
Sun, 17 Nov 2024SEK 315.5bSEK 252.5b-SEK 1,039,309,568.0033.3x-303.6x1.2x
Tue, 15 Oct 2024SEK 284.2bSEK 255.1b-SEK 35,428,883,961.0037.5x-8x1.1x
Thu, 12 Sep 2024SEK 276.0bSEK 255.1b-SEK 35,428,883,961.0036.5x-7.8x1.1x
Sat, 10 Aug 2024SEK 260.5bSEK 255.1b-SEK 35,441,929,401.0034.7x-7.3x1x
Mon, 08 Jul 2024SEK 245.5bSEK 259.5b-SEK 24,911,100,401.0031.7x-9.9x0.9x
Wed, 05 Jun 2024SEK 246.5bSEK 259.5b-SEK 24,906,564,997.0030x-9.9x0.9x
Fri, 03 May 2024SEK 212.9bSEK 259.5b-SEK 24,910,449,227.0028.8x-8.5x0.8x
Sun, 31 Mar 2024SEK 220.2bSEK 268.8b-SEK 25,893,655,227.0029.6x-8.5x0.8x
Tue, 27 Feb 2024SEK 214.2bSEK 268.8b-SEK 25,887,446,425.0026.4x-8.3x0.8x
Thu, 25 Jan 2024SEK 231.2bSEK 268.7b-SEK 25,839,536,425.0033.1x-8.9x0.9x
Sat, 23 Dec 2023SEK 238.5bSEK 282.8b-SEK 23,167,536,425.0035.3x-10.3x0.8x
Mon, 20 Nov 2023SEK 199.6bSEK 282.8b-SEK 23,164,772,425.0028.1x-8.6x0.7x
Wed, 18 Oct 2023SEK 202.4bSEK 286.2bSEK 12.7b21.5x15.9x0.7x
Fri, 15 Sep 2023SEK 212.0bSEK 286.1bSEK 12.7b22.6x16.7x0.7x
Sun, 13 Aug 2023SEK 206.1bSEK 286.1bSEK 12.7b24x16.2x0.7x
Tue, 11 Jul 2023SEK 221.9bSEK 284.0bSEK 17.9b25.1x12.4x0.8x
Thu, 08 Jun 2023SEK 220.4bSEK 284.0bSEK 17.9b28.2x12.3x0.8x
Sat, 06 May 2023SEK 215.8bSEK 283.9bSEK 17.9b29.9x12.1x0.8x
Mon, 03 Apr 2023SEK 229.6bSEK 276.1bSEK 19.2b27.3x11.9x0.8x
Wed, 01 Mar 2023SEK 221.6bSEK 276.0bSEK 19.2b37.3x11.5x0.8x
Fri, 27 Jan 2023SEK 227.6bSEK 275.9bSEK 19.2b37.2x11.9x0.8x
Sun, 25 Dec 2022SEK 228.3bSEK 261.1bSEK 23.1b30.7x9.9x0.9x
Price to Earnings Ratio

9.9x


Total Market Cap: SEK 228.3bTotal Earnings: SEK 23.1bTotal Revenue: SEK 261.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Communications Industry Price to Earnings3Y Average 61.1x202320242025
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 61.1x.
  • The 3-year average PS ratio of 0.99x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have grown 2.7% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.0% 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-0.60%
Tech-1.62%
Communications-0.36%
Communications Equipment-0.36%
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
WAYS Waystream HoldingSEK 37.6012.2%
+SEK 33.1m		139.5%PE547.7x
NETI B Net InsightSEK 3.832.1%
+SEK 27.2m		-48.5%PE222.1x
LUMEN LumenRadioSEK 54.903.8%
+SEK 25.2m		-40.0%PE40.1x
INCOAX InCoax NetworksSEK 0.506.2%
+SEK 3.8m		-74.1%PS0.9x
F2M Free2move HoldingSEK 0.02712.5%
+SEK 730.5k		28.6%PS0.5x

Latest News

HMS
SEK 416.80
HMS Networks
7D
-6.8%
1Y
-5.3%

HMS: Acquisition-Fueled Expansion Will Drive Stronger Long-Term Earnings Power

Analysts have trimmed their price target on HMS Networks by SEK 20 to SEK 575, reflecting slightly more cautious assumptions on revenue growth and profit margins, while also applying a marginally lower discount rate and a modestly higher future P E multiple. What's in the News HMS Networks plans to actively pursue further acquisitions, aiming to drive roughly half of its future growth through M&A and half through organic expansion (company presentation).
GAPW B
SEK 15.86
Gapwaves
7D
-0.3%
1Y
22.9%

GAPW B: Funding And New Radar Orders Will Support Stronger Future Upside

Analysts have trimmed their price target on Gapwaves to approximately $23.50 from $27.00. This reflects a higher perceived discount rate despite slightly stronger expectations for revenue growth and profit margins, alongside a lower projected future P E multiple.
WAYS
SEK 37.60
Waystream Holding
7D
12.2%
1Y
139.5%
ERIC B
SEK 90.12
Telefonaktiebolaget LM Ericsson
7D
-0.2%
1Y
1.0%

ERIC B: Evolving 5G Bans And New Contracts Will Shape Risk Reward Balance

Analysts have nudged up their price target on Telefonaktiebolaget LM Ericsson by SEK 5 to SEK 95, citing higher post Q3 revenue and margin expectations while maintaining a generally cautious stance on the shares. Analyst Commentary Recent target price revisions reflect a more constructive view on Ericsson's near term execution, tempered by lingering concerns over its longer term growth profile and industry headwinds.
TAGM B
SEK 17.00
TagMaster
7D
-2.3%
1Y
44.7%

TagMaster AB (publ) (STO:TAGM B) Doing What It Can To Lift Shares

Dec 05
TagMaster AB (publ) (STO:TAGM B) Doing What It Can To Lift Shares
LUMEN
SEK 54.90
LumenRadio
7D
3.8%
1Y
-40.0%
MAVEN
SEK 5.60
Maven Wireless Sweden
7D
-9.7%
1Y
-45.9%
INCOAX
SEK 0.50
InCoax Networks
7D
6.2%
1Y
-74.1%
NETI B
SEK 3.83
Net Insight
7D
2.1%
1Y
-48.5%
KEBNI B
SEK 1.57
KebNi
7D
-3.3%
1Y
46.5%
F2M
SEK 0.027
Free2move Holding
7D
12.5%
1Y
28.6%