HMS Networks Past Earnings Performance
Past criteria checks 5/6
HMS Networks has been growing earnings at an average annual rate of 3.4%, while the Communications industry saw earnings declining at 4.7% annually. Revenues have been growing at an average rate of 14.8% per year. HMS Networks's return on equity is 13%, and it has net margins of 13.2%.
Key information
3.43%
Earnings growth rate
1.92%
EPS growth rate
| Communications Industry Growth | 49.70% |
| Revenue growth rate | 14.84% |
| Return on equity | 12.97% |
| Net Margin | 13.17% |
| Next Earnings Update | 14 Jul 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 29
HMS: Fair Outlook Balances Execution Risks With Industrial Ethernet Market Strength
The analyst price target for HMS Networks has shifted from SEK 483 to SEK 550, with analysts citing updated assumptions for revenue growth, profit margins, and future P/E multiples following a mix of recent upgrades and downgrades on the stock. Analyst Commentary Recent research on HMS Networks reflects a split view, with some analysts turning more cautious even as the overall price target moves to SEK 550.Analysis Article • Jun 22
HMS Networks (OM:HMS) Stock Could Be 12.2% Undervalued After New Ethernet Market Data
HMS Networks stock reacts to new industrial Ethernet market data HMS Networks (OM:HMS) has drawn fresh attention after releasing 2025 industrial networking statistics showing industrial Ethernet technologies accounted for 79% of new nodes, with fieldbus usage continuing to decline. The data also highlights 12% growth in industrial Ethernet and confirms that Profinet, Ethernet/IP, and EtherCat together represented 75% of the global industrial Ethernet market, underscoring the role of HMS...
Narrative Update • Jun 15
HMS: Cybersecurity Positioning Will Support A Higher Future Earnings Multiple
Analysts now see fair value for HMS Networks at SEK 586.80, up from SEK 496.67, citing mixed recent rating moves and updated assumptions around discount rates, revenue growth, margins, and future P/E multiples. Analyst Commentary Recent research on HMS Networks reflects a split view, with some analysts turning more constructive and others becoming more cautious.
Narrative Update • Jun 01
HMS: Dividend Payout And Maintained Assumptions Will Support Future Upside
Analysts have held their SEK 670 price target for HMS Networks steady, citing relatively unchanged long term assumptions around revenue growth, profit margins and future P/E, despite mixed recent ratings moves from different research houses. Analyst Commentary Recent research highlights a split in sentiment, with some analysts turning more cautious while others see room for upside in HMS Networks based on its existing fundamentals and valuation framework.Narrative Update • May 14
HMS: Higher Fair Value And Dividend Are Expected To Support Future Upside
Analysts have raised the fair value estimate for HMS Networks from SEK 570 to SEK 670. This change reflects updated views on revenue growth, profit margins and future P/E multiples, following mixed recent research in which some firms turned more cautious and others more positive on the stock.Analysis Article • Apr 27
HMS Networks AB (publ) Just Recorded A 16% EPS Beat: Here's What Analysts Are Forecasting Next
HMS Networks AB (publ) ( STO:HMS ) just released its first-quarter report and things are looking bullish. HMS Networks...Narrative Update • Apr 21
HMS: Recent Upgrades And Proposed Dividend Are Expected To Support Future Upside
Analysts keep their SEK 570.00 price target for HMS Networks intact, citing slightly higher modeled revenue growth and profit margin assumptions, partly offset by a modestly lower future P/E multiple after recent upgrades from Danske Bank and Nordea. Analyst Commentary Recent Street research on HMS Networks points to a more confident tone, with bullish analysts highlighting a combination of growth potential, execution and valuation support behind their upgraded views.Narrative Update • Apr 06
HMS: Recent Rating Upgrades Will Support Shares If Execution Remains Solid
Analysts have lifted their price target for HMS Networks to SEK 483, citing slightly stronger assumptions for long term revenue growth and profitability along with recent rating upgrades from major banks. Analyst Commentary Recent research has highlighted a mix of confidence in the long term story for HMS Networks and a more careful stance on shorter term execution and valuation risks.Narrative Update • Mar 23
HMS: Recent Upgrades And Proposed Dividend Are Expected To Drive Future Upside
Analysts have raised their fair value estimate for HMS Networks to SEK 570 from SEK 550, reflecting updated assumptions for slightly higher revenue growth, profit margins and future P/E, supported by recent upgrades from Nordea and Pareto. Analyst Commentary Recent research updates point to a more constructive view on HMS Networks, with bullish analysts revisiting their assumptions on growth, profitability and valuation.Narrative Update • Mar 09
HMS: I Expect Constructive Rating Upgrades To Support Future Share Performance
Analysts have lifted their HMS Networks fair value estimate from SEK 440 to SEK 483, reflecting updated assumptions on the discount rate, growth, margins and P/E following recent upgrades and more constructive research on the shares. Analyst Commentary Recent research on HMS Networks has turned more constructive, with several firms expressing greater confidence in the shares and aligning price targets closer to the updated SEK 483 fair value estimate.Narrative Update • Feb 22
HMS: Recent Rating Upgrades And Dividend Proposal Will Support Future Upside
Analysts have lifted their price target on HMS Networks to SEK 550, up from SEK 480, citing updated research that points to slightly stronger assumptions for long term growth and profitability, supported by recent rating upgrades. Analyst Commentary Recent research has pointed to a more constructive view on HMS Networks, with bullish analysts updating their models and signalling greater confidence in the company’s long term growth and profitability assumptions.Narrative Update • Feb 08
HMS: Recent Rating Upgrades And New Dividend Policy Will Support Future Upside
Analysts have raised their price target for HMS Networks to SEK 550 from SEK 545, citing recent ratings upgrades and updated views on revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Recent research points to a more positive stance on HMS Networks, with bullish analysts revisiting their assumptions on revenue growth, margins, and P/E levels when setting new price targets.Narrative Update • Jan 25
HMS: Upgraded Rating And SEK 480 Outlook Will Support Future Earnings Upside
Analysts have lifted their price target on HMS Networks to SEK 480, citing slightly higher assumed revenue growth, profit margin and discount rate, along with a modestly adjusted future P/E multiple. Together, these factors support a refreshed view on the shares.Narrative Update • Jan 10
HMS: Acquisition-Focused Expansion Will Drive Future Earnings Upside Potential
Analysts have kept their price target for HMS Networks steady at SEK545.00, with the unchanged fair value reflecting slightly adjusted assumptions on discount rate, revenue growth, profit margin and future P/E that they see as offsetting each other overall. What's in the News HMS Networks AB (publ) plans to continue looking for acquisitions as part of its growth approach, alongside its existing internal growth efforts (Key Developments).Narrative Update • Dec 26
HMS: Acquisition-Led Expansion Will Drive Stronger Long-Term Earnings Power
Analysts have modestly reduced their price target on HMS Networks, trimming fair value from SEK 575 to SEK 545. Slightly higher discount rates and a lower projected future P E multiple offset marginally stronger expectations for revenue growth, while profit margins are expected to remain broadly unchanged.Narrative Update • Dec 12
HMS: Acquisition-Fueled Expansion Will Drive Stronger Long-Term Earnings Power
Analysts have trimmed their price target on HMS Networks by SEK 20 to SEK 575, reflecting slightly more cautious assumptions on revenue growth and profit margins, while also applying a marginally lower discount rate and a modestly higher future P E multiple. What's in the News HMS Networks plans to actively pursue further acquisitions, aiming to drive roughly half of its future growth through M&A and half through organic expansion (company presentation).Analysis Article • Oct 05
Investors Still Waiting For A Pull Back In HMS Networks AB (publ) (STO:HMS)
When close to half the companies in Sweden have price-to-earnings ratios (or "P/E's") below 23x, you may consider HMS...Analysis Article • Aug 16
A Look At The Intrinsic Value Of HMS Networks AB (publ) (STO:HMS)
Key Insights HMS Networks' estimated fair value is kr452 based on 2 Stage Free Cash Flow to Equity HMS Networks' kr425...Narrative Update • Aug 06
Red Lion And PEAK-System Integration Will Drive Efficiency Improvements
The upward revision in HMS Networks’ price target is primarily driven by a significant increase in consensus revenue growth forecasts, while profit margins remain stable, resulting in the target rising from SEK496.67 to SEK528.33. Valuation Changes Summary of Valuation Changes for HMS Networks The Consensus Analyst Price Target has risen from SEK496.67 to SEK528.33.Analysis Article • Jun 14
Is It Too Late To Consider Buying HMS Networks AB (publ) (STO:HMS)?
While HMS Networks AB (publ) ( STO:HMS ) might not have the largest market cap around , it saw a double-digit share...Analysis Article • May 27
Is HMS Networks (STO:HMS) A Risky Investment?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...Analysis Article • Apr 26
HMS Networks AB (publ) Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
A week ago, HMS Networks AB (publ) ( STO:HMS ) came out with a strong set of first-quarter numbers that could...Analysis Article • Apr 19
Why We're Not Concerned Yet About HMS Networks AB (publ)'s (STO:HMS) 27% Share Price Plunge
HMS Networks AB (publ) ( STO:HMS ) shareholders won't be pleased to see that the share price has had a very rough...Analysis Article • Apr 18
We Think Shareholders May Want To Consider A Review Of HMS Networks AB (publ)'s (STO:HMS) CEO Compensation Package
Key Insights HMS Networks to hold its Annual General Meeting on 24th of April CEO Staffan Dahlstrom's total...
New Narrative • Mar 18
Integration Of Red Lion And PEAK-System Will Strengthen Future Market Position
Strategic acquisitions and product launches are set to boost revenue and profitability by leveraging established market positions and new customer segments.Analysis Article • Feb 09
Investors Appear Satisfied With HMS Networks AB (publ)'s (STO:HMS) Prospects As Shares Rocket 25%
HMS Networks AB (publ) ( STO:HMS ) shareholders have had their patience rewarded with a 25% share price jump in the...Analysis Article • Feb 05
There May Be Some Bright Spots In HMS Networks' (STO:HMS) Earnings
HMS Networks AB (publ)'s ( STO:HMS ) stock was strong despite it releasing a soft earnings report last week. Our...Analysis Article • Jan 21
Estimating The Fair Value Of HMS Networks AB (publ) (STO:HMS)
Key Insights The projected fair value for HMS Networks is kr468 based on 2 Stage Free Cash Flow to Equity Current share...Analysis Article • Jul 21
Weak Statutory Earnings May Not Tell The Whole Story For HMS Networks (STO:HMS)
The subdued market reaction suggests that HMS Networks AB (publ)'s ( STO:HMS ) recent earnings didn't contain any...Analysis Article • Mar 19
Estimating The Fair Value Of HMS Networks AB (publ) (STO:HMS)
Key Insights Using the 2 Stage Free Cash Flow to Equity, HMS Networks fair value estimate is kr408 HMS Networks' kr440...Analysis Article • Feb 24
Is Now An Opportune Moment To Examine HMS Networks AB (publ) (STO:HMS)?
HMS Networks AB (publ) ( STO:HMS ), might not be a large cap stock, but it saw a double-digit share price rise of over...Analysis Article • Feb 11
Risks To Shareholder Returns Are Elevated At These Prices For HMS Networks AB (publ) (STO:HMS)
HMS Networks AB (publ)'s ( STO:HMS ) price-to-earnings (or "P/E") ratio of 36.6x might make it look like a strong sell...Analysis Article • Jan 30
HMS Networks AB (publ) (STO:HMS) Just Reported And Analysts Have Been Lifting Their Price Targets
Last week, you might have seen that HMS Networks AB (publ) ( STO:HMS ) released its yearly result to the market. The...Analysis Article • Jan 26
New Forecasts: Here's What Analysts Think The Future Holds For HMS Networks AB (publ) (STO:HMS)
Shareholders in HMS Networks AB (publ) ( STO:HMS ) may be thrilled to learn that the analysts have just delivered a...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How HMS Networks makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 3,658 | 482 | 1,023 | 327 |
| 31 Dec 25 | 3,577 | 435 | 1,018 | 332 |
| 30 Sep 25 | 3,433 | 438 | 1,031 | 329 |
| 30 Jun 25 | 3,331 | 369 | 1,013 | 327 |
| 31 Mar 25 | 3,333 | 318 | 1,033 | 319 |
| 31 Dec 24 | 3,059 | 310 | 972 | 287 |
| 30 Sep 24 | 3,013 | 346 | 937 | 288 |
| 30 Jun 24 | 3,010 | 423 | 913 | 294 |
| 31 Mar 24 | 2,868 | 506 | 859 | 296 |
| 31 Dec 23 | 3,025 | 571 | 870 | 319 |
| 30 Sep 23 | 3,029 | 612 | 850 | 303 |
| 30 Jun 23 | 2,864 | 575 | 797 | 287 |
| 31 Mar 23 | 2,762 | 568 | 740 | 271 |
| 31 Dec 22 | 2,506 | 508 | 670 | 253 |
| 30 Sep 22 | 2,313 | 443 | 634 | 239 |
| 30 Jun 22 | 2,161 | 392 | 603 | 233 |
| 31 Mar 22 | 2,034 | 377 | 567 | 227 |
| 31 Dec 21 | 1,972 | 355 | 546 | 226 |
| 30 Sep 21 | 1,807 | 324 | 500 | 215 |
| 30 Jun 21 | 1,680 | 302 | 464 | 201 |
| 31 Mar 21 | 1,561 | 266 | 435 | 192 |
| 31 Dec 20 | 1,467 | 223 | 435 | 175 |
| 30 Sep 20 | 1,408 | 235 | 436 | 178 |
| 30 Jun 20 | 1,439 | 219 | 448 | 179 |
| 31 Mar 20 | 1,500 | 212 | 479 | 181 |
| 31 Dec 19 | 1,519 | 206 | 472 | 188 |
| 30 Sep 19 | 1,535 | 180 | 466 | 186 |
| 30 Jun 19 | 1,513 | 184 | 457 | 186 |
| 31 Mar 19 | 1,426 | 175 | 435 | 174 |
| 31 Dec 18 | 1,366 | 171 | 422 | 162 |
| 30 Sep 18 | 1,304 | 149 | 417 | 153 |
| 30 Jun 18 | 1,255 | 142 | 403 | 148 |
| 31 Mar 18 | 1,224 | 140 | 388 | 146 |
| 31 Dec 17 | 1,183 | 143 | 371 | 140 |
| 30 Sep 17 | 1,147 | 149 | 344 | 136 |
| 30 Jun 17 | 1,096 | 142 | 330 | 130 |
| 31 Mar 17 | 1,030 | 128 | 316 | 122 |
| 31 Dec 16 | 952 | 100 | 305 | 119 |
| 30 Sep 16 | 862 | 78 | 283 | 113 |
| 30 Jun 16 | 788 | 61 | 263 | 109 |
| 31 Mar 16 | 732 | 51 | 242 | 109 |
| 31 Dec 15 | 702 | 60 | 226 | 103 |
| 30 Sep 15 | 683 | 66 | 218 | 101 |
Quality Earnings: HMS has high quality earnings.
Growing Profit Margin: HMS's current net profit margins (13.2%) are higher than last year (9.5%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: HMS's earnings have grown by 3.4% per year over the past 5 years.
Accelerating Growth: HMS's earnings growth over the past year (51.6%) exceeds its 5-year average (3.4% per year).
Earnings vs Industry: HMS earnings growth over the past year (51.6%) exceeded the Communications industry 51.6%.
Return on Equity
High ROE: HMS's Return on Equity (13%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/06 03:37 |
| End of Day Share Price | 2026/07/03 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
HMS Networks AB (publ) is covered by 10 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Fredrik Nilsson | ABG Sundal Collier Sponsored |
| Viktor Högberg | Danske Bank |