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Swedish (OMX) Telecom Sector Analysis

UpdatedJun 26, 2026
DataAggregated Company Financials
Companies55
  • 7D0.1%
  • 3M1.5%
  • 1Y11.4%
  • YTD10.2%

The Telecom is pretty flat in the last 7 days, but Embracer Group has stood out, gaining 4.9%. The past year has been better, since the industry has gained 11% in that time. Looking forward, earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

Has the Swedish Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Jun 2026SEK 430.3bSEK 196.7bSEK 5.1b17.8x85.1x2.2x
Mon, 25 May 2026SEK 460.6bSEK 196.6bSEK 5.0b23.7x91.7x2.3x
Wed, 22 Apr 2026SEK 435.0bSEK 197.5bSEK 10.8b22.6x40.3x2.2x
Fri, 20 Mar 2026SEK 425.2bSEK 198.2bSEK 10.6b23.3x40x2.1x
Sun, 15 Feb 2026SEK 418.6bSEK 200.6bSEK 13.1b22.8x31.8x2.1x
Tue, 13 Jan 2026SEK 388.8bSEK 206.2bSEK 7.9b25.5x48.9x1.9x
Thu, 11 Dec 2025SEK 383.5bSEK 210.3bSEK 8.1b24.8x47.5x1.8x
Sat, 08 Nov 2025SEK 404.5bSEK 210.9bSEK 7.9b24.6x51.2x1.9x
Mon, 06 Oct 2025SEK 406.7bSEK 211.2bSEK 7.0b27.1x58.3x1.9x
Wed, 03 Sep 2025SEK 401.4bSEK 211.2bSEK 7.0b27.7x57.7x1.9x
Fri, 01 Aug 2025SEK 403.7bSEK 213.0bSEK 5.1b26.4x78.7x1.9x
Sun, 29 Jun 2025SEK 395.0bSEK 212.2bSEK 4.3b27x91.2x1.9x
Tue, 27 May 2025SEK 391.0bSEK 212.4bSEK 3.3b28.1x116.8x1.8x
Thu, 24 Apr 2025SEK 379.6bSEK 226.4b-SEK 17,790,919,109.5325x-21.3x1.7x
Sat, 22 Mar 2025SEK 376.2bSEK 226.4b-SEK 17,796,780,221.3124.4x-21.1x1.7x
Mon, 17 Feb 2025SEK 376.2bSEK 226.7b-SEK 20,416,487,455.6726.8x-18.4x1.7x
Wed, 15 Jan 2025SEK 359.6bSEK 225.9b-SEK 21,591,583,438.1722.7x-16.7x1.6x
Fri, 13 Dec 2024SEK 356.1bSEK 225.9b-SEK 21,639,966,086.3624.1x-16.5x1.6x
Sun, 10 Nov 2024SEK 351.2bSEK 228.6b-SEK 21,320,189,806.8822.5x-16.5x1.5x
Tue, 08 Oct 2024SEK 364.2bSEK 228.8b-SEK 22,334,159,148.9328.4x-16.3x1.6x
Thu, 05 Sep 2024SEK 359.8bSEK 228.9b-SEK 22,329,810,405.4829.6x-16.1x1.6x
Sat, 03 Aug 2024SEK 355.0bSEK 231.2b-SEK 17,841,947,179.1026.4x-19.9x1.5x
Mon, 01 Jul 2024SEK 329.3bSEK 230.9b-SEK 23,994,533,134.4826.5x-13.7x1.4x
Wed, 29 May 2024SEK 327.8bSEK 230.8b-SEK 24,016,749,223.0026.7x-13.6x1.4x
Fri, 26 Apr 2024SEK 323.6bSEK 231.6b-SEK 5,143,463,321.2927.7x-62.9x1.4x
Sun, 24 Mar 2024SEK 306.4bSEK 212.8bSEK 3.7b21.5x82.1x1.4x
Tue, 20 Feb 2024SEK 298.8bSEK 230.7b-SEK 3,218,196,081.9831.2x-92.9x1.3x
Thu, 18 Jan 2024SEK 299.8bSEK 234.7b-SEK 14,343,909,922.0025.7x-20.9x1.3x
Sat, 16 Dec 2023SEK 306.2bSEK 234.6b-SEK 14,353,555,512.0030.9x-21.3x1.3x
Mon, 13 Nov 2023SEK 283.4bSEK 232.0b-SEK 10,818,072,410.0027x-26.2x1.2x
Wed, 11 Oct 2023SEK 289.1bSEK 230.5b-SEK 10,431,608,896.0023.8x-27.7x1.3x
Fri, 08 Sep 2023SEK 287.7bSEK 230.7b-SEK 10,388,136,475.0025.1x-27.7x1.2x
Sun, 06 Aug 2023SEK 295.7bSEK 226.2b-SEK 13,066,935,862.0024x-22.6x1.3x
Tue, 04 Jul 2023SEK 300.6bSEK 223.5b-SEK 6,063,377,744.0018.6x-49.6x1.3x
Price to Earnings Ratio

-49.6x


Total Market Cap: SEK 300.6bTotal Earnings: -SEK 6,063,377,744.00Total Revenue: SEK 223.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Telecom Sector Price to Earnings3Y Average 27.1x202420252026
Current Industry PE
  • Investors are optimistic on the Swedish Communication Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 85.1x which is higher than its 3-year average PE of 27.0x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • Total earnings for the Communication Services industry have gone up over the last three years and the industry is now profitable.
  • Revenues have declined 4.2% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Swedish Telecom sector?

SE Market-0.061%
Telecom0.11%
Entertainment2.01%
Wireless Telecom0.46%
Telecom Services and Carriers-0.21%
Interactive Media and Services-1.28%
Media-5.55%
Industry PE
  • Investors are most optimistic about the Telecom Services and Carriers industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 16.5%, which is higher than its past year's earnings decline of 14.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Media industry, expecting annual earnings growth of 56% over the next 5 years.
  • This is better than its past earnings growth rate of 37% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings decline by 16% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TEL2 B Tele2SEK 176.351.4%
+SEK 1.7b		25.0%PE12.1x
TELIA Telia CompanySEK 48.670.7%
+SEK 1.4b		43.1%PE41.3x
EMBRAC B Embracer GroupSEK 62.024.7%
+SEK 625.2m		-42.8%PS0.9x
HACK HacksawSEK 76.152.7%
+SEK 578.4m		-1.1%PE12.9x
KAR Karnov GroupSEK 65.105.0%
+SEK 302.1m		-38.1%PE6.7x

Latest News

STORY B
SEK 91.60
Storytel
7D
-5.6%
1Y
-3.4%
PDX
SEK 124.90
Paradox Interactive
7D
-0.6%
1Y
-34.0%
Narrative Update • Jun 25

PDX: Dividend And Index Inclusion Will Support Stronger Future Upside Conviction

Analysts have raised their outlook on Paradox Interactive, lifting the price target from SEK170 to SEK190. They cite updated assumptions around revenue growth, profit margins and a lower assumed P/E multiple that they consider a better reflection of the company’s potential earnings profile.
MTG B
SEK 120.90
Modern Times Group MTG
7D
0.4%
1Y
2.2%
Narrative Update • Jun 25

MTG B: Ongoing Share Repurchases Will Support Future Upside

Analysts have kept their SEK 166.25 price target on Modern Times Group MTG unchanged, citing only minor tweaks to the discount rate, revenue growth, profit margin and forward P/E assumptions that left their overall valuation view steady. What’s in the News for Modern Times Group MTG Modern Times Group MTG commenced a share repurchase program on October 10, 2025, following a mandate from the May 15, 2025 AGM that authorizes buybacks of up to 12,330,929 Class A and Class B shares, equal to 10% of issued share capital.
KAR
SEK 65.10
Karnov Group
7D
5.0%
1Y
-38.1%
Narrative Update • Jun 25

KAR: Stable Assumptions And Higher Future P/E Will Support Upside

Analysts have kept their SEK 106.67 price target for Karnov Group unchanged, citing largely stable assumptions around the discount rate, revenue growth, profit margins, and future P/E forecasts as the basis for maintaining their view. What’s in the News for Karnov Group No recent news items for Karnov Group were identified in the primary news source provided.
HEM
SEK 70.20
Hemnet Group
7D
-4.9%
1Y
-74.9%
TELIA
SEK 48.67
Telia Company
7D
0.7%
1Y
43.1%
OVZON
SEK 42.12
Ovzon
7D
-8.8%
1Y
-8.4%
Narrative Update • Jun 24

OVZON: Mission Critical Mobility Terminals Will Drive Stronger Medium Term Outlook

Analysts have lifted their price target for Ovzon from SEK 60.87 to SEK 68.50, citing updated fair value assumptions and a higher future P/E multiple in their models. What’s in the News for Ovzon Ovzon AB announced the Ovzon T8, described as the smallest mobile satellite terminal in its class, aimed at connectivity needs across military, civil defense and commercial sectors.
EMBRAC B
SEK 62.02
Embracer Group
7D
4.7%
1Y
-42.8%
HACK
SEK 76.15
Hacksaw
7D
2.7%
1Y
-1.1%
ACAST
SEK 38.40
Acast
7D
-4.5%
1Y
148.7%
New Narrative • Jun 16

Acast Stock Will Face Margin Pressure From ARPL Limits And Rising Platform Dependence

Catalysts About Acast Acast operates a global, platform agnostic podcast distribution and monetization infrastructure connecting creators, audiences and advertisers. What are the underlying business or industry changes driving this perspective?
TEL2 B
SEK 176.35
Tele2
7D
1.4%
1Y
25.0%
Narrative Update • Jun 16

TEL2 B: Bearish Downgrades And Leadership Change Will Likely Cap Future Upside

Tele2's updated price target holds steady at SEK 140.00, as analysts balance mixed rating changes with adjustments to revenue growth assumptions and a slightly higher future P/E expectation. Analyst Commentary Recent research on Tele2 reflects a split view, with some large banks such as JPMorgan adjusting price targets while several bearish analysts have moved to downgrades.
WYLD
SEK 0.52
Wyld Networks
7D
-85.1%
1Y
-95.4%
VPLAY B
SEK 1.22
Viaplay Group
7D
-7.2%
1Y
74.4%
New Narrative • Jun 02

Future Margin Pressure From Sports Rights And Allente Declines Will Restrain Earnings

Catalysts About Viaplay Group Viaplay Group operates streaming, pay TV, and related media services with a focus on premium sports, local entertainment content, and bundled DTH offerings in the Nordics and selected markets. What are the underlying business or industry changes driving this perspective?
EG7
SEK 17.62
Enad Global 7
7D
-3.1%
1Y
32.1%
SF
SEK 4.22
Stillfront Group
7D
5.4%
1Y
-38.5%
BAHN B
SEK 50.80
Bahnhof
7D
1.9%
1Y
-13.2%