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Swedish (OMX) Telecom Sector Analysis

UpdatedMay 11, 2026
DataAggregated Company Financials
Companies56
  • 7D-0.6%
  • 3M9.3%
  • 1Y13.7%
  • YTD14.9%

Over the last 7 days, the Telecom industry has remained flat, although notably Hacksaw declined by 5.0%. As for the the longer term, the industry is up 14% over the past 12 months. Looking forward, earnings are forecast to grow by 10% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 11 May 2026SEK 448.9bSEK 199.0bSEK 16.1b22.4x27.9x2.3x
Wed, 08 Apr 2026SEK 439.4bSEK 197.5bSEK 10.8b20.7x40.5x2.2x
Fri, 06 Mar 2026SEK 426.1bSEK 198.2bSEK 10.6b22.7x40x2.2x
Sun, 01 Feb 2026SEK 395.9bSEK 198.2bSEK 7.3b26.8x54.2x2x
Tue, 30 Dec 2025SEK 401.9bSEK 210.3bSEK 8.1b25.5x49.8x1.9x
Thu, 27 Nov 2025SEK 391.7bSEK 210.5bSEK 8.1b25.4x48.2x1.9x
Sat, 25 Oct 2025SEK 407.6bSEK 210.4bSEK 7.2b27.4x56.7x1.9x
Mon, 22 Sep 2025SEK 410.3bSEK 211.2bSEK 7.0b26.3x58.8x1.9x
Wed, 20 Aug 2025SEK 403.2bSEK 211.8bSEK 6.8b27x59x1.9x
Fri, 18 Jul 2025SEK 401.2bSEK 212.3bSEK 4.3b26.5x92.4x1.9x
Sun, 15 Jun 2025SEK 374.6bSEK 210.3bSEK 3.3b28.2x115.2x1.8x
Tue, 13 May 2025SEK 382.6bSEK 227.9b-SEK 17,356,965,105.9125.5x-22x1.7x
Thu, 10 Apr 2025SEK 349.7bSEK 226.4b-SEK 17,873,404,061.7123.5x-19.6x1.5x
Sat, 08 Mar 2025SEK 368.2bSEK 226.4b-SEK 17,795,487,797.2724.9x-20.7x1.6x
Mon, 03 Feb 2025SEK 385.6bSEK 226.5b-SEK 18,757,698,297.7522.3x-20.6x1.7x
Wed, 01 Jan 2025SEK 351.6bSEK 225.9b-SEK 21,623,431,664.2422.8x-16.3x1.6x
Fri, 29 Nov 2024SEK 355.3bSEK 226.0b-SEK 21,513,179,407.4725.2x-16.5x1.6x
Sun, 27 Oct 2024SEK 358.5bSEK 228.5b-SEK 20,884,746,971.4122.8x-17.2x1.6x
Tue, 24 Sep 2024SEK 366.3bSEK 228.8b-SEK 22,332,307,175.1029.6x-16.4x1.6x
Thu, 22 Aug 2024SEK 348.1bSEK 228.5b-SEK 22,425,153,094.1727.9x-15.5x1.5x
Sat, 20 Jul 2024SEK 347.9bSEK 231.5b-SEK 17,633,377,580.5027.9x-19.7x1.5x
Mon, 17 Jun 2024SEK 319.1bSEK 230.7b-SEK 23,997,257,560.8625.5x-13.3x1.4x
Wed, 15 May 2024SEK 339.0bSEK 231.6b-SEK 5,053,062,525.7932.6x-67.1x1.5x
Fri, 12 Apr 2024SEK 317.7bSEK 212.9bSEK 3.7b22x85.2x1.5x
Sun, 10 Mar 2024SEK 290.3bSEK 212.7bSEK 3.7b23.5x77.5x1.4x
Tue, 06 Feb 2024SEK 295.0bSEK 229.8bSEK 1.1b26x275.2x1.3x
Thu, 04 Jan 2024SEK 308.8bSEK 234.6b-SEK 14,351,081,115.0028.6x-21.5x1.3x
Sat, 02 Dec 2023SEK 292.4bSEK 234.1b-SEK 13,751,727,864.0027.9x-21.3x1.2x
Mon, 30 Oct 2023SEK 269.5bSEK 231.6b-SEK 10,993,621,126.0026.7x-24.5x1.2x
Wed, 27 Sep 2023SEK 282.8bSEK 230.6b-SEK 10,423,533,127.0024.7x-27.1x1.2x
Fri, 25 Aug 2023SEK 280.4bSEK 230.4b-SEK 10,418,646,206.0021.5x-26.9x1.2x
Sun, 23 Jul 2023SEK 301.6bSEK 225.8b-SEK 13,228,388,962.0024x-22.8x1.3x
Tue, 20 Jun 2023SEK 305.0bSEK 223.5b-SEK 6,078,582,492.0018.2x-50.2x1.4x
Thu, 18 May 2023SEK 353.6bSEK 222.6b-SEK 11,910,936,537.0019.6x-29.7x1.6x
Price to Earnings Ratio

-29.7x


Total Market Cap: SEK 353.6bTotal Earnings: -SEK 11,910,936,537.00Total Revenue: SEK 222.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Telecom Sector Price to Earnings3Y Average 22x202420252026
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 27.9x which is higher than its 3-year average PE of 22.0x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 2.3x.
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 3.7% 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 Market0.77%
Telecom-0.63%
Interactive Media and Services2.72%
Telecom Services and Carriers0.63%
Media-0.058%
Entertainment-1.34%
Wireless Telecom-2.82%
Industry PE
  • Investors are most optimistic about the Entertainment industry which is trading above its 3-year average PE ratio of 7.9x.
    • Analysts are expecting annual earnings growth of 31.9%, which is higher than its past year's earnings decline of 66.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings decline of 66% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings decline by 15% 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 48.942.1%
+SEK 4.0b		39.2%PE41.5x
MTG B Modern Times Group MTGSEK 132.605.7%
+SEK 839.4m		18.4%PE1442.6x
EMBRAC B Embracer GroupSEK 67.005.2%
+SEK 736.8m		-47.4%PE3.6x
ACAST AcastSEK 35.009.4%
+SEK 547.4m		140.7%PS2.4x
BAHN B BahnhofSEK 56.209.8%
+SEK 537.8m		-2.6%PE32.2x

Latest News

BAHN B
SEK 56.20
Bahnhof
7D
9.8%
1Y
-2.6%
KAR
SEK 71.60
Karnov Group
7D
5.8%
1Y
-19.0%
Analysis Article • May 10

Earnings Update: Karnov Group AB (publ) (STO:KAR) Just Reported Its First-Quarter Results And Analysts Are Updating Their Forecasts

Investors in Karnov Group AB (publ) ( STO:KAR ) had a good week, as its shares rose 7.6% to close at kr72.00 following...
ACAST
SEK 35.00
Acast
7D
9.4%
1Y
140.7%
Analysis Article • May 08

Earnings Update: Acast AB (publ) (STO:ACAST) Just Reported And Analysts Are Boosting Their Estimates

Shareholders of Acast AB (publ) ( STO:ACAST ) will be pleased this week, given that the stock price is up 10% to...
MTG B
SEK 132.60
Modern Times Group MTG
7D
5.7%
1Y
18.4%
Analysis Article • May 07

We Think Modern Times Group MTG's (STO:MTG B) Profit Is Only A Baseline For What They Can Achieve

Modern Times Group MTG AB's ( STO:MTG B ) strong earnings report was rewarded with a positive stock price move. We did...
HACK
SEK 76.60
Hacksaw
7D
-5.0%
1Y
n/a
G5EN
SEK 50.20
G5 Entertainment
7D
-10.8%
1Y
-50.5%
PDX
SEK 134.70
Paradox Interactive
7D
-2.0%
1Y
-34.0%
VPLAY B
SEK 1.44
Viaplay Group
7D
-3.4%
1Y
153.3%
OVZON
SEK 55.10
Ovzon
7D
2.7%
1Y
124.0%
Narrative Update • May 05

OVZON: Defence Reliance And New SATCOM Services Will Shape Fairly Balanced Outlook

Analysts have maintained their SEK 56.8 price target for Ovzon, supported by updated assumptions that now reflect a revenue growth rate of 1.88%, a profit margin of 30.99% and a forward P/E of 24.57x. What's in the News Ovzon introduced the Ovzon T8, described as the smallest mobile satellite terminal in its class, aimed at military, civil defense, and commercial users for mission-critical connectivity across air, land, and sea (Key Developments).
HEM
SEK 109.90
Hemnet Group
7D
-8.6%
1Y
-66.8%
Narrative Update • May 05

HEM: Reset Market Expectations Will Pressure Future Earnings Profile

Hemnet Group's analyst price target has been revised lower from SEK 110 to SEK 83, as analysts adjust assumptions around discount rates, long term revenue growth, profit margins and future P/E multiples in line with recent target cuts from several major banks. Analyst Commentary Recent Street research on Hemnet Group points to a more cautious tone, with several major banks trimming their price targets and reassessing assumptions around growth, margins and appropriate P/E levels.
TELIA
SEK 48.94
Telia Company
7D
2.1%
1Y
39.2%
Narrative Update • May 01

TELIA: Norwegian Network Merger Will Test Elevated Dividend And Rating Expectations

Narrative Update: Telia Company The analyst price target for Telia Company has been raised from SEK 30.0 to SEK 30.7. This reflects analysts' updated assumptions on revenue growth, profit margins and discount rate, alongside a series of recent SEK-based target increases from several banks and a mixed but generally constructive research tone. Analyst Commentary Recent research on Telia Company shows a mix of price target adjustments and rating changes that point to a more balanced, and in some areas cautious, stance on the shares.
TEL2 B
SEK 184.90
Tele2
7D
-0.5%
1Y
33.6%
Narrative Update • Apr 30

TEL2 B: Higher Payout Policy And Retail Expansion Will Support Future Returns

Analysts have lifted the average price target for Tele2 by SEK 10 to SEK 225, with recent SEK 7 to SEK 34 target hikes balanced by several downgrades and slightly lower revenue growth and profit margin assumptions, alongside a marginally higher future P/E multiple in updated models. Analyst Commentary Recent Street research on Tele2 shows a split view, with several bullish analysts lifting price targets while others turn more cautious or downgrade their ratings.
EMBRAC B
SEK 67.00
Embracer Group
7D
5.2%
1Y
-47.4%
Narrative Update • Apr 29

EMBRAC B: Share Buybacks Will Support Future Upside Potential

Analysts have kept their SEK fair value estimate for Embracer Group unchanged at SEK 90.0. Small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions are driving only a minor refinement rather than a clear shift in the overall price target view. What's in the News Embracer Group reported that from October 1, 2025 to December 31, 2025, it repurchased 3,991,782 shares for SEK 428 million, representing 1.91% of its shares.
EG7
SEK 22.05
Enad Global 7
7D
21.7%
1Y
110.0%
COFFEE B
SEK 20.71
Coffee Stain Group
7D
-2.0%
1Y
n/a
TRANS
SEK 4.02
Transtema Group
7D
-27.1%
1Y
-73.2%