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Swedish (OMX) Telecom Sector Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies59
  • 7D0.8%
  • 3M-2.5%
  • 1Y8.3%
  • YTD2.6%

The Telecom industry is up 2.0% in the last week, with Telia Company up 2.5%. This means that the industry has gained 8.3% over the past year. Earnings are forecast to grow by 22% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025SEK 397.8bSEK 210.3bSEK 8.1b25.4x49.3x1.9x
Sat, 22 Nov 2025SEK 386.8bSEK 210.5bSEK 8.1b25.6x47.7x1.8x
Mon, 20 Oct 2025SEK 405.7bSEK 211.2bSEK 7.0b26.5x58.2x1.9x
Wed, 17 Sep 2025SEK 406.7bSEK 211.1bSEK 7.0b27.3x58.4x1.9x
Fri, 15 Aug 2025SEK 398.3bSEK 211.4bSEK 6.8b26.5x58.8x1.9x
Sun, 13 Jul 2025SEK 390.7bSEK 212.2bSEK 4.3b26.3x90.1x1.8x
Tue, 10 Jun 2025SEK 386.5bSEK 210.4bSEK 3.3b29.3x118.9x1.8x
Thu, 08 May 2025SEK 390.5bSEK 227.8b-SEK 17,383,374,704.0325.5x-22.5x1.7x
Sat, 05 Apr 2025SEK 368.9bSEK 226.4b-SEK 17,875,861,523.8824.5x-20.6x1.6x
Mon, 03 Mar 2025SEK 380.7bSEK 226.6b-SEK 17,791,709,518.7526.1x-21.4x1.7x
Wed, 29 Jan 2025SEK 370.6bSEK 225.9b-SEK 21,589,848,267.8622x-17.2x1.6x
Fri, 27 Dec 2024SEK 348.8bSEK 226.0b-SEK 21,629,026,716.9322.3x-16.1x1.5x
Sun, 24 Nov 2024SEK 349.8bSEK 226.0b-SEK 21,553,249,829.4524.6x-16.2x1.5x
Tue, 22 Oct 2024SEK 361.0bSEK 228.8b-SEK 22,228,295,236.7126.4x-16.2x1.6x
Thu, 19 Sep 2024SEK 364.6bSEK 228.7b-SEK 22,331,320,391.1828.4x-16.3x1.6x
Sat, 17 Aug 2024SEK 349.9bSEK 228.6b-SEK 22,356,015,243.6328.8x-15.7x1.5x
Mon, 15 Jul 2024SEK 337.9bSEK 230.8b-SEK 24,153,718,587.2927.7x-14x1.5x
Wed, 12 Jun 2024SEK 320.8bSEK 230.7b-SEK 23,989,063,644.8026.2x-13.4x1.4x
Fri, 10 May 2024SEK 329.2bSEK 231.7b-SEK 5,068,091,517.6032.5x-64.9x1.4x
Sun, 07 Apr 2024SEK 320.6bSEK 212.9bSEK 3.7b22.7x86.1x1.5x
Tue, 05 Mar 2024SEK 292.7bSEK 212.7bSEK 3.8b23.5x76.8x1.4x
Thu, 01 Feb 2024SEK 304.2bSEK 229.8bSEK 950.5m26.5x320x1.3x
Sat, 30 Dec 2023SEK 306.1bSEK 234.5b-SEK 14,357,155,121.0030.2x-21.3x1.3x
Mon, 27 Nov 2023SEK 289.3bSEK 234.2b-SEK 13,706,985,261.0021.5x-21.1x1.2x
Wed, 25 Oct 2023SEK 277.8bSEK 231.6b-SEK 10,512,205,045.0025.3x-26.4x1.2x
Fri, 22 Sep 2023SEK 295.9bSEK 230.7b-SEK 10,405,407,469.0025.2x-28.4x1.3x
Sun, 20 Aug 2023SEK 289.8bSEK 229.8b-SEK 10,443,881,379.0021.6x-27.8x1.3x
Tue, 18 Jul 2023SEK 304.2bSEK 223.4b-SEK 6,045,243,341.0020.1x-50.3x1.4x
Thu, 15 Jun 2023SEK 304.3bSEK 223.4b-SEK 6,067,258,849.0017.9x-50.2x1.4x
Sat, 13 May 2023SEK 372.5bSEK 222.3b-SEK 11,971,566,321.0020.8x-31.1x1.7x
Mon, 10 Apr 2023SEK 365.7bSEK 218.9b-SEK 9,412,354,341.0020.7x-38.9x1.7x
Wed, 08 Mar 2023SEK 366.6bSEK 219.4b-SEK 9,550,730,312.0018.4x-38.4x1.7x
Fri, 03 Feb 2023SEK 368.2bSEK 209.3b-SEK 12,288,089,780.0022.9x-30x1.8x
Sun, 01 Jan 2023SEK 341.9bSEK 207.9bSEK 7.6b20x44.7x1.6x
Price to Earnings Ratio

44.7x


Total Market Cap: SEK 341.9bTotal Earnings: SEK 7.6bTotal Revenue: SEK 207.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Telecom Sector Price to Earnings3Y Average 14.9x202320242025
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 49.3x which is higher than its 3-year average PE of 14.9x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 1.9x.
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 Market0.69%
Telecom0.75%
Interactive Media and Services2.16%
Media1.96%
Telecom Services and Carriers1.37%
Wireless Telecom-0.031%
Entertainment-0.44%
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 46.8%, 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 47% 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
TELIA Telia CompanySEK 38.930.8%
+SEK 1.1b		28.1%PE28.3x
OVZON OvzonSEK 39.2519.8%
+SEK 724.9m		128.7%PS7.7x
HACK HacksawSEK 62.613.5%
+SEK 613.1m		n/aPE14.1x
HEM Hemnet GroupSEK 170.902.2%
+SEK 347.3m		-48.9%PE29.8x
ACAST AcastSEK 34.505.0%
+SEK 301.1m		121.2%PS2.7x

Latest News

STORY B
SEK 81.30
Storytel
7D
1.7%
1Y
19.2%

What Does Storytel AB (publ)'s (STO:STORY B) Share Price Indicate?

Dec 24
What Does Storytel AB (publ)'s (STO:STORY B) Share Price Indicate?
HEM
SEK 170.90
Hemnet Group
7D
2.2%
1Y
-48.9%

HEM: Lower Housing Volumes Will Likely Pressure Future Earnings And Share Price

We lower our Hemnet Group fair value estimate to SEK 121 from SEK 227, reflecting analysts' reduced price targets and more cautious assumptions on revenue growth, profit margins, and valuation multiples. Analyst Commentary Recent Street research reflects a clear moderation in sentiment toward Hemnet Group, with successive price target cuts pointing to increased skepticism about the sustainability of prior growth and valuation assumptions.
PDX
SEK 159.50
Paradox Interactive
7D
-1.2%
1Y
-20.3%
OVZON
SEK 39.25
Ovzon
7D
19.8%
1Y
128.7%

Ovzon (STO:OVZON) Has A Pretty Healthy Balance Sheet

Dec 22
Ovzon (STO:OVZON) Has A Pretty Healthy Balance Sheet
EMBRAC B
SEK 58.84
Embracer Group
7D
-2.2%
1Y
-67.7%

EMBRAC B Undervalued Upside Seen As Coffee Stain Spin-Off Approaches

Analysts have trimmed their fair value estimate for Embracer Group to SEK 80 from SEK 81, reflecting a slightly higher perceived risk and lower margin outlook, even as revenue growth expectations improve and sector peers command richer forward multiples. Analyst Commentary Bearish analysts have begun to recalibrate their expectations for Embracer Group, trimming price targets and embedding a wider range of potential outcomes into their models.
KAR
SEK 99.50
Karnov Group
7D
1.4%
1Y
23.4%
COFFEE B
SEK 22.30
Coffee Stain Studios
7D
-4.3%
1Y
n/a
MAGI
SEK 7.62
MAG Interactive
7D
-5.0%
1Y
-19.8%
TEL2 B
SEK 152.85
Tele2
7D
-0.03%
1Y
40.6%

Earnings Not Telling The Story For Tele2 AB (publ) (STO:TEL2 B)

Dec 17
Earnings Not Telling The Story For Tele2 AB (publ) (STO:TEL2 B)
MTG B
SEK 111.70
Modern Times Group MTG
7D
-1.2%
1Y
18.5%

MTG B Share Repurchases Will Support Future Earnings And Share Price Upside

Analysts have modestly raised their price target on Modern Times Group MTG, citing slightly higher long term discount rate assumptions and stable expectations for revenue growth, margins, and future valuation multiples as justification for the updated SEK 156 fair value estimate. What's in the News Launched a share repurchase program of up to SEK 400 million, with repurchases starting October 10, 2025 and running until May 15, 2026, with bought-back shares to be cancelled (company announcement) Received AGM authorization to repurchase up to 12,203,000 Class A and/or Class B shares, equal to 10% of issued share capital, to enhance shareholder returns and support long term incentive programs (AGM mandate) Raised full year 2025 guidance to 7% to 9% organic growth and SEK 11.4 to 11.7 billion in revenues, up from a previous organic growth target of 3% to 7% (company guidance) Announced a new divisional structure within the Gaming Village, creating Midcore and Casual Districts, with Midcore grouping studios such as Plarium, Futureplay, InnoGames, Snowprint, Hutch and Ninja Kiwi (company update) Valuation Changes Fair Value Estimate remains unchanged at approximately SEK 156 per share, indicating no fundamental shift in the analysts intrinsic valuation.
TELIA
SEK 38.93
Telia Company
7D
0.8%
1Y
28.1%

TELIA: Cost Discipline And Efficiency Will Drive Stronger Profitability Ahead

Analysts have raised their fair value estimate for Telia Company from SEK 45.24 to SEK 48.00, citing recent price target increases and expectations that disciplined capital allocation and cost efficiency will continue to support improving profitability, even with slightly weaker revenue growth assumptions. Analyst Commentary Recent Street research indicates that bullish analysts are incrementally more confident in Telia Company's ability to execute on its strategic priorities, reflected in a series of upward price target revisions.
SF
SEK 6.26
Stillfront Group
7D
-3.1%
1Y
-21.7%
BUSER
SEK 12.55
Bambuser
7D
-8.9%
1Y
-29.9%
BRE2
SEK 3.22
Bredband2 i Skandinavien
7D
10.1%
1Y
63.9%
HACK
SEK 62.61
Hacksaw
7D
3.5%
1Y
n/a
ACAST
SEK 34.50
Acast
7D
5.0%
1Y
121.2%