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Swedish (OMX) Telecom Sector Analysis

UpdatedDec 12, 2025
DataAggregated Company Financials
Companies59
  • 7D-2.0%
  • 3M-6.3%
  • 1Y3.0%
  • YTD0.2%

Over the last 7 days, the Telecom industry has dropped 2.1%, driven by Embracer Group declining 31%. In contrast, Hemnet Group has gained 11%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 22% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 12 Dec 2025SEK 383.4bSEK 210.4bSEK 8.1b24.8x47.5x1.8x
Sun, 09 Nov 2025SEK 404.5bSEK 210.9bSEK 7.9b24.9x51.2x1.9x
Tue, 07 Oct 2025SEK 408.1bSEK 211.2bSEK 7.0b26.7x58.6x1.9x
Thu, 04 Sep 2025SEK 402.7bSEK 211.2bSEK 7.0b28.1x57.9x1.9x
Sat, 02 Aug 2025SEK 402.1bSEK 213.0bSEK 5.1b26.3x78.3x1.9x
Mon, 30 Jun 2025SEK 395.0bSEK 212.2bSEK 4.3b27x91.2x1.9x
Wed, 28 May 2025SEK 391.3bSEK 212.5bSEK 3.3b28.3x117x1.8x
Fri, 25 Apr 2025SEK 382.0bSEK 226.4b-SEK 17,788,836,038.3925.4x-21.5x1.7x
Sun, 23 Mar 2025SEK 376.1bSEK 226.4b-SEK 17,796,780,221.3124.4x-21.1x1.7x
Tue, 18 Feb 2025SEK 377.0bSEK 226.7b-SEK 20,420,168,700.6227.4x-18.5x1.7x
Thu, 16 Jan 2025SEK 357.2bSEK 225.9b-SEK 21,588,034,576.6222.2x-16.5x1.6x
Sat, 14 Dec 2024SEK 356.5bSEK 225.9b-SEK 21,639,553,085.3023.9x-16.5x1.6x
Mon, 11 Nov 2024SEK 351.2bSEK 228.6b-SEK 21,320,189,806.8822.5x-16.5x1.5x
Wed, 09 Oct 2024SEK 368.2bSEK 228.8b-SEK 22,333,638,670.9327.8x-16.5x1.6x
Fri, 06 Sep 2024SEK 363.7bSEK 228.8b-SEK 22,348,326,201.5629.7x-16.3x1.6x
Sun, 04 Aug 2024SEK 353.0bSEK 231.2b-SEK 17,841,947,179.1026.4x-19.8x1.5x
Tue, 02 Jul 2024SEK 331.6bSEK 230.9b-SEK 23,995,416,907.2626.6x-13.8x1.4x
Thu, 30 May 2024SEK 325.3bSEK 230.8b-SEK 24,011,053,007.9526.7x-13.5x1.4x
Sat, 27 Apr 2024SEK 325.5bSEK 231.6b-SEK 5,136,646,187.6427.8x-63.4x1.4x
Mon, 25 Mar 2024SEK 306.4bSEK 212.6bSEK 3.8b21.5x79.8x1.4x
Wed, 21 Feb 2024SEK 298.4bSEK 230.7b-SEK 3,218,248,513.5930.9x-92.7x1.3x
Fri, 19 Jan 2024SEK 298.8bSEK 234.7b-SEK 14,325,971,050.0022.8x-20.9x1.3x
Sun, 17 Dec 2023SEK 306.2bSEK 234.6b-SEK 14,353,555,512.0030.9x-21.3x1.3x
Tue, 14 Nov 2023SEK 284.2bSEK 232.0b-SEK 10,793,549,944.0026.7x-26.3x1.2x
Thu, 12 Oct 2023SEK 288.1bSEK 230.5b-SEK 10,428,488,544.0024.7x-27.6x1.2x
Sat, 09 Sep 2023SEK 287.9bSEK 230.7b-SEK 10,405,253,304.0025.2x-27.7x1.2x
Mon, 07 Aug 2023SEK 295.7bSEK 226.2b-SEK 13,066,935,862.0024x-22.6x1.3x
Wed, 05 Jul 2023SEK 303.1bSEK 223.5b-SEK 6,066,639,149.0018.9x-50x1.4x
Fri, 02 Jun 2023SEK 328.5bSEK 223.6b-SEK 6,162,391,611.0020.1x-53.3x1.5x
Sun, 30 Apr 2023SEK 388.2bSEK 221.5b-SEK 12,104,755,972.0021.2x-32.1x1.8x
Tue, 28 Mar 2023SEK 364.7bSEK 218.8b-SEK 9,406,454,079.0019.2x-38.8x1.7x
Thu, 23 Feb 2023SEK 368.9bSEK 218.8b-SEK 9,578,297,471.0020.9x-38.5x1.7x
Sat, 21 Jan 2023SEK 348.4bSEK 207.6bSEK 7.6b21.4x45.6x1.7x
Mon, 19 Dec 2022SEK 342.7bSEK 207.8bSEK 7.7b22.9x44.7x1.6x
Price to Earnings Ratio

44.7x


Total Market Cap: SEK 342.7bTotal Earnings: SEK 7.7bTotal Revenue: SEK 207.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Telecom Sector Price to Earnings3Y Average 14.8x202320242025
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 47.5x which is higher than its 3-year average PE of 14.8x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Communication Services industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

SE Market-0.15%
Telecom-1.95%
Interactive Media and Services3.29%
Wireless Telecom0.37%
Media-0.79%
Telecom Services and Carriers-1.51%
Entertainment-8.92%
Industry PE
  • Investors are most optimistic about the Interactive Media and Services industry even though it's trading below its 3-year average PE ratio of 169x.
    • Analysts are expecting annual earnings growth of 45.6%, which is higher than its past year's earnings growth of 18.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Interactive Media and Services industry, expecting annual earnings growth of 46% over the next 5 years.
  • This is better than its past earnings growth rate of 18% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings grow by 11% 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
HEM Hemnet GroupSEK 176.0010.6%
+SEK 1.6b		-48.7%PE30.7x
HACK HacksawSEK 64.483.3%
+SEK 604.4m		n/aPE14.4x
TEL2 B Tele2SEK 147.400.4%
+SEK 381.4m		31.1%PE23.6x
OVZON OvzonSEK 34.858.2%
+SEK 295.6m		166.8%PS6.8x
VPLAY B Viaplay GroupSEK 0.922.5%
+SEK 103.7m		34.2%PS0.2x

Latest News

PDX
SEK 160.20
Paradox Interactive
7D
-4.4%
1Y
-19.4%
EMBRAC B
SEK 59.90
Embracer Group
7D
-31.0%
1Y
-69.5%
HEM
SEK 176.00
Hemnet Group
7D
10.6%
1Y
-48.7%

HEM: Margin Expansion And Buybacks Will Support Medium Term Cash Flow Stability

Hemnet Group's updated narrative fair value has been revised lower to approximately SEK 282 from SEK 294, as analysts trim price targets across the sector, citing slightly softer revenue growth expectations despite improving profit margins and a modestly lower forward P E multiple. Analyst Commentary Recent Street revisions for Hemnet Group have been characterized by a series of lower price targets, signaling a more cautious stance on near term upside even as the company continues to execute on profitability improvements.
TELIA
SEK 37.68
Telia Company
7D
-1.8%
1Y
23.3%

Telia Company (STO:TELIA) Is Due To Pay A Dividend Of SEK0.50

Dec 09
Telia Company (STO:TELIA) Is Due To Pay A Dividend Of SEK0.50
GCOR
SEK 1.11
Gaming Corps
7D
6.2%
1Y
86.2%
TEL2 B
SEK 147.40
Tele2
7D
0.4%
1Y
31.1%

Returns At Tele2 (STO:TEL2 B) Are On The Way Up

Dec 03
Returns At Tele2 (STO:TEL2 B) Are On The Way Up
KAR
SEK 98.20
Karnov Group
7D
-0.8%
1Y
20.2%
MTG B
SEK 109.80
Modern Times Group MTG
7D
-3.2%
1Y
19.2%

MTG B: Share Repurchase and New Divisions Will Drive Earnings Momentum

Analysts have revised their price target for Modern Times Group MTG, maintaining the fair value estimate at SEK 155.67. They cited shifts in projected profit margins and future earnings multiples as the reason for this adjustment.
STORY B
SEK 75.75
Storytel
7D
-2.9%
1Y
11.3%

STORY B: New Partnerships And Executive Leadership Will Drive Global Expansion

Analysts have adjusted their price target for Storytel downward from SEK 111 to SEK 108. This change is due to modest revisions to profit margin and growth assumptions in their valuation models.
OVZON
SEK 34.85
Ovzon
7D
8.2%
1Y
166.8%

Market Participants Recognise Ovzon AB (publ)'s (STO:OVZON) Revenues

Nov 28
Market Participants Recognise Ovzon AB (publ)'s (STO:OVZON) Revenues
MOMENT
SEK 4.90
Moment Group
7D
5.2%
1Y
-48.4%

Little Excitement Around Moment Group AB's (STO:MOMENT) Revenues As Shares Take 28% Pounding

Nov 28
Little Excitement Around Moment Group AB's (STO:MOMENT) Revenues As Shares Take 28% Pounding
BETCO
SEK 113.40
Better Collective
7D
-1.3%
1Y
-2.9%
ENVAR
SEK 58.00
Envar Holding
7D
2.1%
1Y
n/a
HACK
SEK 64.48
Hacksaw
7D
3.3%
1Y
n/a
VPLAY B
SEK 0.92
Viaplay Group
7D
2.5%
1Y
34.2%

Positive Sentiment Still Eludes Viaplay Group AB (publ) (STO:VPLAY B) Following 26% Share Price Slump

Nov 04
Positive Sentiment Still Eludes Viaplay Group AB (publ) (STO:VPLAY B) Following 26% Share Price Slump
ACAST
SEK 31.65
Acast
7D
-1.9%
1Y
99.1%