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Swedish (OMX) Telecom Sector Analysis

UpdatedAug 11, 2026
DataAggregated Company Financials
Companies53
  • 7D-2.8%
  • 3M-9.8%
  • 1Y3.9%
  • YTD4.0%

Over the last 7 days, the Telecom industry has dropped 1.2%, driven by pullbacks in Telia Company and Tele2 of 1.7% and 2.2%, respectively. Over the past 12 months, the industry was up 5.4%. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 11 Aug 2026SEK 406.0bSEK 199.4bSEK 6.3b19.9x64.2x2x
Thu, 09 Jul 2026SEK 415.4bSEK 196.6bSEK 5.1b17.8x81.6x2.1x
Sat, 06 Jun 2026SEK 439.9bSEK 196.6bSEK 5.0b24.4x87.5x2.2x
Mon, 04 May 2026SEK 451.8bSEK 199.3bSEK 15.9b25.1x28.5x2.3x
Wed, 01 Apr 2026SEK 434.0bSEK 198.3bSEK 10.6b21.3x40.9x2.2x
Fri, 27 Feb 2026SEK 423.2bSEK 198.2bSEK 10.6b22.4x39.8x2.1x
Sun, 25 Jan 2026SEK 398.5bSEK 206.1bSEK 7.9b26x50.2x1.9x
Tue, 23 Dec 2025SEK 395.0bSEK 210.3bSEK 8.1b24.9x49x1.9x
Thu, 20 Nov 2025SEK 384.1bSEK 210.5bSEK 8.1b25.1x47.4x1.8x
Sat, 18 Oct 2025SEK 405.8bSEK 211.2bSEK 7.0b26.5x58.2x1.9x
Mon, 15 Sep 2025SEK 410.9bSEK 211.1bSEK 7.0b27.9x58.9x1.9x
Wed, 13 Aug 2025SEK 399.1bSEK 213.0bSEK 5.3b26.2x75.4x1.9x
Fri, 11 Jul 2025SEK 392.9bSEK 212.2bSEK 4.3b26.5x90.7x1.9x
Sun, 08 Jun 2025SEK 388.7bSEK 210.4bSEK 3.2b29.3x119.6x1.8x
Tue, 06 May 2025SEK 387.8bSEK 227.9b-SEK 17,297,925,036.4726.2x-22.4x1.7x
Thu, 03 Apr 2025SEK 376.4bSEK 226.3b-SEK 17,878,613,593.6724.3x-21.1x1.7x
Sat, 01 Mar 2025SEK 383.6bSEK 226.8b-SEK 17,834,623,189.9126.1x-21.5x1.7x
Mon, 27 Jan 2025SEK 367.9bSEK 225.9b-SEK 21,589,001,549.2421.7x-17x1.6x
Wed, 25 Dec 2024SEK 348.8bSEK 226.0b-SEK 21,628,190,991.8822.3x-16.1x1.5x
Fri, 22 Nov 2024SEK 347.0bSEK 226.0b-SEK 21,566,921,412.6124.2x-16.1x1.5x
Sun, 20 Oct 2024SEK 365.2bSEK 228.8b-SEK 22,228,801,197.3125.9x-16.4x1.6x
Tue, 17 Sep 2024SEK 360.9bSEK 227.4b-SEK 22,333,709,285.8527.8x-16.2x1.6x
Thu, 15 Aug 2024SEK 350.8bSEK 231.1b-SEK 17,849,160,135.6029.2x-19.7x1.5x
Sat, 13 Jul 2024SEK 338.0bSEK 230.8b-SEK 24,153,718,587.2927.7x-14x1.5x
Mon, 10 Jun 2024SEK 326.3bSEK 230.8b-SEK 23,991,411,396.3626.5x-13.6x1.4x
Wed, 08 May 2024SEK 328.8bSEK 231.6b-SEK 5,050,675,422.5132x-65.1x1.4x
Fri, 05 Apr 2024SEK 325.1bSEK 212.9bSEK 3.7b22.2x87.3x1.5x
Sun, 03 Mar 2024SEK 297.1bSEK 212.7bSEK 3.8b25.7x78.2x1.4x
Tue, 30 Jan 2024SEK 298.4bSEK 229.6bSEK 917.7m25.1x325.1x1.3x
Thu, 28 Dec 2023SEK 306.7bSEK 234.5b-SEK 14,362,730,268.0030.7x-21.4x1.3x
Sat, 25 Nov 2023SEK 289.3bSEK 234.0b-SEK 13,586,476,234.0021.5x-21.3x1.2x
Mon, 23 Oct 2023SEK 281.3bSEK 227.6b-SEK 10,777,890,165.0025.1x-26.1x1.2x
Wed, 20 Sep 2023SEK 287.9bSEK 230.7b-SEK 10,405,323,850.0025.2x-27.7x1.2x
Fri, 18 Aug 2023SEK 289.4bSEK 226.6b-SEK 12,801,458,503.0023x-22.6x1.3x
Price to Earnings Ratio

-22.6x


Total Market Cap: SEK 289.4bTotal Earnings: -SEK 12,801,458,503.00Total Revenue: SEK 226.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Telecom Sector Price to Earnings3Y Average 31.8x202420252026
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 65.1x which is higher than its 3-year average PE of 31.7x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.1x.
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 Market0.56%
Telecom-2.81%
Interactive Media and Services1.04%
Media-0.21%
Entertainment-0.88%
Telecom Services and Carriers-3.37%
Wireless Telecom-4.29%
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 15.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 54% over the next 5 years.
  • This is better than its past earnings decline of 59% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings decline by 18% 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
HACK HacksawSEK 75.603.3%
+SEK 694.1m		10.4%PE11.6x
EMBRAC B Embracer GroupSEK 68.982.7%
+SEK 397.3m		-32.7%PS1x
HEM Hemnet GroupSEK 87.754.6%
+SEK 348.1m		-66.6%PE20.1x
KAR Karnov GroupSEK 72.502.5%
+SEK 173.5m		-35.8%PE7.3x
OVZON OvzonSEK 37.664.0%
+SEK 161.7m		-6.2%PE18.4x

Latest News

COFFEE B
SEK 17.20
Coffee Stain Group
7D
-3.4%
1Y
n/a
PDX
SEK 132.70
Paradox Interactive
7D
-6.9%
1Y
-19.2%
Analysis Article • Aug 09

Paradox Interactive AB (publ) (STO:PDX) Just Reported Second-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?

Paradox Interactive AB (publ) ( STO:PDX ) shareholders are probably feeling a little disappointed, since its shares...
HEM
SEK 87.75
Hemnet Group
7D
4.6%
1Y
-66.6%
ACAST
SEK 36.10
Acast
7D
-4.1%
1Y
91.6%
Narrative Update • Aug 08

ACAST: Video Advertising Rollout On Major Platform Will Drive Future Upside

Acast's updated analyst price target rises to SEK 50 from SEK 45, with analysts pointing to slightly higher modeled revenue growth and a modestly higher future P/E assumption, partly offset by a slightly lower profit margin outlook and a small change in discount rate. What's in the News for Acast Acast announces the launch of the first integrated video ad campaigns on Apple Podcasts, positioning the company as an early mover in monetizing Apple’s new video environment at scale.
HACK
SEK 75.60
Hacksaw
7D
3.3%
1Y
10.4%
TELIA
SEK 42.71
Telia Company
7D
-3.7%
1Y
23.7%
ENRO
SEK 31.90
Eniro Group
7D
10.7%
1Y
50.5%
Analysis Article • Aug 01

There May Be Some Bright Spots In Eniro Group's (STO:ENRO) Earnings

Eniro Group AB (publ)'s ( STO:ENRO ) stock was strong despite it releasing a soft earnings report last week. Our...
TEL2 B
SEK 160.50
Tele2
7D
-4.3%
1Y
2.5%
Narrative Update • Jul 31

TEL2 B: Mixed Rating Revisions And Stable Dividend Will Guide Future Returns

Tele2's updated analyst price target has adjusted from about SEK 181.54 to roughly SEK 176.41. Analysts point to slightly higher modeled revenue growth, a modestly lower profit margin and a small change in future P/E assumptions to support the new level.
SF
SEK 6.77
Stillfront Group
7D
3.2%
1Y
41.0%
STORY B
SEK 102.70
Storytel
7D
-0.7%
1Y
24.4%
MTG B
SEK 126.00
Modern Times Group MTG
7D
-5.2%
1Y
23.7%
ENVAR
SEK 56.60
Envar Holding
7D
11.0%
1Y
89.9%
OVZON
SEK 37.66
Ovzon
7D
4.0%
1Y
-6.2%
Narrative Update • Jul 22

OVZON: Future NATO And European Contracts Will Support Bullish Re Rating

Analysts have lifted their fair value price target for Ovzon from SEK45.60 to SEK65.00 as they factor in a higher discount rate, lower projected revenue growth and profit margins, and a materially higher future P/E assumption. What’s in the News for Ovzon Ovzon AB received a supplementary order from a European customer for additional mobile satellite terminals worth SEK 36 million, with deliveries scheduled during 2026, source: company client announcement.
EMBRAC B
SEK 68.98
Embracer Group
7D
2.7%
1Y
-32.7%
Narrative Update • Jul 13

EMBRAC B: Share Buybacks Will Mask Rich Earnings Expectations Going Forward

Analysts have raised their fair value estimate for Embracer Group from SEK 52.00 to SEK 60.00, citing updated assumptions for revenue growth, profit margins, and a lower discount rate that together indicate a materially lower implied future P/E multiple. What’s in the News for Embracer Group Embracer Group executed a buyback of 564,200 B shares on Nasdaq Stockholm between 22 June and 3 July 2026 as part of its previously announced SEK 750m share repurchase program.
KAR
SEK 72.50
Karnov Group
7D
2.5%
1Y
-35.8%
FLEXM
SEK 2.89
Flexion Mobile
7D
-15.0%
1Y
-51.7%