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Swedish (OMX) Telecom Sector Analysis

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies58
  • 7D2.0%
  • 3M2.0%
  • 1Y3.3%
  • YTD2.9%

Over the last 7 days, the Telecom industry has risen 2.9%, driven by gains in Telia Company and Tele2 of 6.2% and 7.4%, respectively. During this same period, the Karnov Group underperformed, falling 21%. In the last 12 months, the industry was up 4.1%. As for the next few years, earnings are expected to grow by 18% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Feb 2026SEK 406.7bSEK 200.5bSEK 12.4b26.8x32.9x2x
Wed, 07 Jan 2026SEK 393.0bSEK 206.2bSEK 8.0b25.5x49.4x1.9x
Fri, 05 Dec 2025SEK 391.1bSEK 210.4bSEK 8.1b24.8x48.4x1.9x
Sun, 02 Nov 2025SEK 406.7bSEK 210.7bSEK 7.4b27x55.2x1.9x
Tue, 30 Sep 2025SEK 406.2bSEK 211.2bSEK 7.0b26.2x58.2x1.9x
Thu, 28 Aug 2025SEK 409.5bSEK 211.3bSEK 6.9b28.1x59.1x1.9x
Sat, 26 Jul 2025SEK 413.3bSEK 212.9bSEK 5.2b28.5x79.9x1.9x
Mon, 23 Jun 2025SEK 372.3bSEK 210.5bSEK 3.3b27.8x114.4x1.8x
Wed, 21 May 2025SEK 395.6bSEK 227.9b-SEK 17,238,685,651.3129.1x-22.9x1.7x
Fri, 18 Apr 2025SEK 375.0bSEK 226.4b-SEK 17,866,372,462.6725.3x-21x1.7x
Sun, 16 Mar 2025SEK 372.9bSEK 226.4b-SEK 17,798,929,270.6324.1x-20.9x1.6x
Tue, 11 Feb 2025SEK 378.7bSEK 226.4b-SEK 26,265,099,150.0823.1x-14.4x1.7x
Thu, 09 Jan 2025SEK 352.8bSEK 225.9b-SEK 21,590,556,483.2723.6x-16.3x1.6x
Sat, 07 Dec 2024SEK 364.1bSEK 225.9b-SEK 21,635,818,920.5424.5x-16.8x1.6x
Mon, 04 Nov 2024SEK 359.5bSEK 228.6b-SEK 20,762,777,241.3019.8x-17.3x1.6x
Wed, 02 Oct 2024SEK 362.8bSEK 228.8b-SEK 22,334,411,748.3129x-16.2x1.6x
Fri, 30 Aug 2024SEK 351.8bSEK 228.8b-SEK 22,329,087,625.5628.9x-15.8x1.5x
Sun, 28 Jul 2024SEK 363.8bSEK 231.2b-SEK 17,917,416,299.7227.7x-20.3x1.6x
Tue, 25 Jun 2024SEK 328.6bSEK 230.8b-SEK 23,990,399,025.0825.4x-13.7x1.4x
Thu, 23 May 2024SEK 336.4bSEK 231.7b-SEK 5,270,502,429.8030.3x-63.8x1.5x
Sat, 20 Apr 2024SEK 321.4bSEK 213.1bSEK 3.7b34.9x86.6x1.5x
Mon, 18 Mar 2024SEK 295.0bSEK 212.5bSEK 3.9b24.4x76.4x1.4x
Wed, 14 Feb 2024SEK 294.3bSEK 230.0bSEK 701.8m25.2x419.3x1.3x
Fri, 12 Jan 2024SEK 307.2bSEK 234.6b-SEK 14,349,956,119.0028.5x-21.4x1.3x
Sun, 10 Dec 2023SEK 305.2bSEK 234.6b-SEK 14,349,918,466.0029.5x-21.3x1.3x
Tue, 07 Nov 2023SEK 283.2bSEK 231.9b-SEK 10,989,355,860.0027.4x-25.8x1.2x
Thu, 05 Oct 2023SEK 281.9bSEK 230.6b-SEK 10,424,898,903.0024.5x-27x1.2x
Sat, 02 Sep 2023SEK 295.3bSEK 230.6b-SEK 10,355,911,528.0020.8x-28.5x1.3x
Mon, 31 Jul 2023SEK 306.5bSEK 226.1b-SEK 13,147,656,498.0024.1x-23.3x1.4x
Wed, 28 Jun 2023SEK 298.0bSEK 223.5b-SEK 6,073,756,264.0019x-49.1x1.3x
Fri, 26 May 2023SEK 329.0bSEK 223.0b-SEK 11,985,098,817.0021.5x-27.5x1.5x
Sun, 23 Apr 2023SEK 366.1bSEK 219.0b-SEK 11,082,475,390.0021.5x-33x1.7x
Tue, 21 Mar 2023SEK 367.1bSEK 218.9b-SEK 9,543,355,727.0017.8x-38.5x1.7x
Thu, 16 Feb 2023SEK 356.0bSEK 210.7b-SEK 12,203,565,217.0022.7x-29.2x1.7x
Price to Earnings Ratio

-29.2x


Total Market Cap: SEK 356.0bTotal Earnings: -SEK 12,203,565,217.00Total Revenue: SEK 210.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Telecom Sector Price to Earnings3Y Average 16x202420252026
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 33.0x which is higher than its 3-year average PE of 15.9x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 2.0x.
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 remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.

Industry Trends

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

SE Market1.09%
Telecom1.96%
Wireless Telecom5.80%
Telecom Services and Carriers3.74%
Media0.59%
Entertainment-3.10%
Interactive Media and Services-12.08%
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 167x.
    • Analysts are expecting annual earnings growth of 45.5%, which is lower than the prior year's growth of 3,451.1% 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.
  • In contrast, the Wireless Telecom industry is expected to see its earnings grow by 8.3% 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 43.054.2%
+SEK 6.9b		27.6%PE33.4x
TEL2 B Tele2SEK 175.005.8%
+SEK 6.7b		40.8%PE26.5x
BAHN B BahnhofSEK 55.804.7%
+SEK 268.9m		0.5%PE27.1x
PDX Paradox InteractiveSEK 129.500.9%
+SEK 126.7m		-39.4%PE109x
VPLAY B Viaplay GroupSEK 1.242.0%
+SEK 109.1m		111.3%PS0.3x

Latest News

MOMENT
SEK 6.40
Moment Group
7D
16.4%
1Y
-20.8%
MTG B
SEK 93.60
Modern Times Group MTG
7D
-7.7%
1Y
-20.3%
ACAST
SEK 28.10
Acast
7D
-5.5%
1Y
55.2%
HEM
SEK 130.90
Hemnet Group
7D
-7.6%
1Y
-67.9%
SF
SEK 4.44
Stillfront Group
7D
-12.9%
1Y
-36.1%
TELIA
SEK 43.05
Telia Company
7D
4.2%
1Y
27.6%

TELIA: Network Synergies And Margin Discipline Will Support Stronger Future Returns

Analysts have lifted their fair value estimate for Telia Company from SEK 50.00 to about SEK 52.00, citing updated views on revenue growth, profit margins and future P/E assumptions reflected in recent target changes, including a higher SEK 41.60 target. They also note that much of the visible upside is already reflected in the share price.
OVZON
SEK 49.95
Ovzon
7D
-8.0%
1Y
169.1%

Rising Defense And Public Safety Demand Will Support Long Term Satellite Communications Upside

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TEL2 B
SEK 175.00
Tele2
7D
5.8%
1Y
40.8%

TEL2 B: Rich P/E And Dividend Payout Will Likely Limit Future Upside

The analyst price target for Tele2 has increased from SEK 122.0 to approximately SEK 128.4, reflecting updated views from analysts who have recently adjusted their targets in both directions based on revised expectations for revenue growth, profit margins and future P/E assumptions. Analyst Commentary Recent research updates around Tele2 show a mix of views, with some analysts raising their targets and others trimming them by small amounts.
EMBRAC B
SEK 46.54
Embracer Group
7D
-3.7%
1Y
-68.6%
KAR
SEK 77.10
Karnov Group
7D
-21.2%
1Y
-13.8%
PDX
SEK 129.50
Paradox Interactive
7D
0.9%
1Y
-39.4%
VPLAY B
SEK 1.24
Viaplay Group
7D
2.0%
1Y
111.3%

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Jan 28
Viaplay Group AB (publ)'s (STO:VPLAY B) Shares Leap 25% Yet They're Still Not Telling The Full Story
HACK
SEK 55.00
Hacksaw
7D
-2.1%
1Y
n/a

Expanding Games Portfolio And New Regulated Markets Will Support Long Term Earnings Potential

Catalysts About Hacksaw Hacksaw develops and distributes iGaming content and platform services to operators globally. What are the underlying business or industry changes driving this perspective?
ENVAR
SEK 45.40
Envar Holding
7D
3.2%
1Y
149.5%

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Jan 20
Investors Shouldn't Overlook The Favourable Returns On Capital At Envar Holding (STO:ENVAR)
BAHN B
SEK 55.80
Bahnhof
7D
4.7%
1Y
0.5%