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Ericsson

ERIC Technology Communication Equipment

Ericsson’s revenue for fiscal 2025 (year ended December 2025) was $24.2 billion, up 3.15% from fiscal 2024. In the quarter to June 2026, revenue fell 3.14%, EPS fell 7.14%, free cash flow fell 89.2% and total debt fell 12.8%, each against the same quarter a year earlier.

9.37 0.19 −1.99%
Market cap
$29.1B
P/E
12.3×
Fwd P/E
—
Dividend yield
3.34%
F-score
8/9
Altman Z
2.89
Beneish M
−2.53
Dividend safety
70/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 8.24%

Capital & Financial Ratios $m

Market Cap 29,090.00
Revenue 24,242.11
Net Income 2,549.37
Free Cash Flow 3,083.92
Net Debt (2,418.59)
Current Ratio 1.12
Debt/Equity 0.30 (at or below 0.5: strong)
P/E ratio 12.26
Fwd P/E —
P/S ratio 1.31
P/B ratio 2.81
Past 5Y EPS Growth 8.83%
This Y EPS Growth (40.52%) (below 0%: weak)
Next Y EPS Growth 16.25% (at or above 15%: strong)
Next Y revenue growth —
Next 5Y EPS Growth (8.74%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.2×, against a ten-year median of 1.0×; over the ten years it ranged from 0.5× in 2016 to 1.7× in 2021.
P/E against its own 10 years 21.70%
10-year low 10-year high
P/S against its own 10 years 75.22%
10-year low 10-year high
P/B against its own 10 years 57.02%
10-year low 10-year high
EV/Sales against its own 10 years 73.74%
10-year low 10-year high
EV/FCF against its own 10 years 26.70%
10-year low 10-year high

Dividends

Payout Ratio 0.41
Annual Dividend Rate 0.32
Annual Dividend Yield 3.34%
total individual payouts
2026 0.32
0.16
0.16
2025 0.29
0.14
0.15
2024 0.26
0.13
0.13
2023 0.25
0.13
0.12
2022 0.25
0.13
0.11
2021 0.23
0.12
0.11
2020 0.16
0.07
0.08
2019 0.11
0.11
2018 0.12
0.12
2017 0.11
0.11
2016 0.89
0.43
0.46
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 4,222 5,338 5,789 5,778
Receivables 6,237 6,038 5,736 5,774
Inventory 3,402 2,566 2,397 3,281
Other 754 655 749 878
14,615 14,597 14,671 15,712
2023 2024 2025 Q'26
Payables 2,619 2,854 2,691 3,089
ST’ Debt 1,665 581 362 1,011
Other 7,372 8,524 7,828 9,237
12,202 12,475 11,338 14,026

Compound Annual Growth %

10y 5y 3y
Sales (1.90%) (0.92%) (3.49%)
Cash Flow 3.25% 1.32% 3.26%
Earnings 6.09% 8.80% 16.12%
Book Value (4.30%) 3.95% (5.16%)

Revenue $m

Mar Jun Sep Dec Year
’26 5,397 5,627 — — —
’25 5,161 5,810 5,911 7,307 24,189
’24 5,125 5,590 5,932 6,803 23,449
’23 5,980 6,122 5,964 6,768 24,834
’22 5,897 6,359 6,457 8,197 26,910
’21 5,934 6,532 6,510 8,112 27,088
’20 5,154 5,747 6,483 7,947 25,331
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 810 187 — — —
’25 409 472 848 1,639 3,368
’24 488 853 1,419 1,616 4,376
’23 (557) (270) 151 1,353 677
’22 3 640 398 2,018 3,059
’21 382 705 1,674 1,793 4,555
’20 446 563 687 1,458 3,154
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 743 42 — — —
’25 315 388 770 1,529 3,002
’24 411 763 1,341 1,528 4,043
’23 (700) (395) 43 1,229 176
’22 (111) 514 277 1,789 2,469
’21 252 556 1,544 1,677 4,029
’20 306 411 539 1,346 2,603
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.03 0.13 — — —
’25 0.12 0.14 0.35 0.27 0.87
’24 0.07 (0.31) 0.11 0.13 0.00
’23 0.04 (0.02) (0.85) 0.08 (0.75)
’22 0.09 0.14 0.15 0.17 0.56
’21 0.11 0.13 0.20 0.34 0.79
’20 0.07 0.08 0.18 0.26 0.57
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 4.83 5.52 6.00 7.58 6.15 9.93 5.16 4.33 4.77 6.64

Analyst estimates 2026–2028

Powerpack
High 10.20 7.47 9.45 10.46 12.61 15.32 12.78 6.43 8.62 10.35
People
People Employees 111,464 100,735 95,359 99,417 100,824 101,322 105,529 99,952 94,326 88,826
Revenue/emp, $m 0.23 0.23 0.25 0.24 0.25 0.27 0.26 0.25 0.25 0.27
Income, $m
Income, $m Revenue 26,023 23,613 24,267 24,039 25,331 27,088 26,910 24,834 23,449 24,189
Gross margin, % 29.81 22.13 32.35 37.33 40.33 43.37 41.72 38.58 44.12 47.60
EBT 471 (4,613) (168) 927 2,966 3,411 2,439 (2,199) 245 3,914
EBT margin, % 1.81 (19.54) (0.69) 3.86 11.71 12.59 9.06 (8.85) 1.04 16.18
Net income 222 (4,113) (722) 195 1,921 2,679 1,894 (2,462) 35 2,935
Depreciation 1,039 2,698 897 956 925 1,046 1,045 1,129 975 918
Per share, $
Per share, $ Revenue 7.98 7.21 7.37 7.27 7.62 8.14 8.08 7.46 7.04 7.26
Earnings 0.06 (1.26) (0.23) 0.07 0.57 0.80 0.56 (0.75) 0.00 0.87
Cash flow 0.50 0.34 0.33 0.54 0.95 1.37 0.92 0.20 1.31 1.01
Capex (0.36) (0.15) (0.16) (0.19) (0.17) (0.16) (0.18) (0.15) (0.10) (0.11)
Free cash flow 0.14 0.19 0.17 0.35 0.78 1.21 0.74 0.05 1.21 0.90
Book value 5.03 3.59 3.07 2.62 2.79 3.75 3.97 2.76 2.64 3.38
Shares, m 3,263 3,277 3,291 3,306 3,323 3,329 3,330 3,330 3,332 3,333
Valuation, ×
Valuation, × P/E 82.57 0.00 0.00 125.43 20.25 13.94 10.80 0.00 0.00 10.97
P/S 0.72 0.93 1.20 1.21 1.57 1.34 0.74 0.83 1.15 1.33
P/B 1.15 1.86 2.89 3.35 4.28 2.90 1.50 2.25 3.05 2.85
EV/Sales 0.62 0.88 1.15 1.15 1.48 1.18 0.68 0.84 1.07 1.23
EV/FCF 35.50 33.43 50.61 23.76 14.41 7.96 7.44 118.20 6.21 9.90
Cash, $m
Cash, $m Operating cash flow 1,638 1,126 1,075 1,785 3,154 4,555 3,059 677 4,376 3,368
Capex (1,184) (505) (526) (626) (551) (526) (589) (500) (333) (365)
Free cash flow 454 621 550 1,159 2,603 4,029 2,469 176 4,043 3,002
Balance, $m
Balance, $m Working capital 9,470 6,714 5,784 3,925 3,867 5,580 2,793 2,413 2,122 3,333
Total debt 3,120 3,876 3,813 3,988 3,287 3,711 3,263 4,420 3,599 3,342
Net debt (2,759) (1,120) (1,368) (1,496) (2,210) (4,099) (1,403) 198 (1,740) (2,446)
Shareholders’ equity 16,424 11,751 10,102 8,663 9,284 12,488 13,210 9,186 8,796 11,269
Returns, %
Returns, % ROA 0.60 (12.97) (2.44) 0.78 6.48 8.11 5.28 (7.96) 0.01 10.34
ROIC 3.37 (26.29) 1.02 9.75 26.78 27.61 14.17 (12.77) 3.61 27.97
ROE 1.18 (29.32) (6.88) 2.51 21.24 24.31 14.44 (22.27) 0.02 28.96
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Ericsson vs peers in Communication Equipment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MSI Motorola Solutions, Inc. $74.0B 34.6× 30.9× +13.31% (above 0%: growing) +9.09% (above 0%: growing) +84.00% (above 0%: growing) 53.56% 25.82% Compare
CIEN Ciena Corporation $60.4B 97.4× 94.0× +37.05% (above 0%: growing) +437.14% (above 0%: growing) −13.59% (below 0%: shrinking) 45.43% 18.02% Compare
NOK Nokia Corporation $56.8B 5.6× — +8.48% (above 0%: growing) n/m −624.57% (below 0%: shrinking) 44.57% (1.04%) Compare
UI Ubiquiti Inc. $38.9B 41.4× 30.7× +23.47% (above 0%: growing) +6.80% (above 0%: growing) +134.17% (above 0%: growing) 45.80% 36.27% Compare
ERIC Ericsson $28.9B 12.3× — −3.14% (below 0%: shrinking) −7.14% (below 0%: shrinking) −89.23% (below 0%: shrinking) 45.78% 11.24%
ASTS AST SpaceMobile, Inc. $22.2B — (loss-making) — (loss-making) +2,626.64% (above 0%: growing) n/m −103.37% (below 0%: shrinking) 25.23% (944.09%) Compare
ZBRA Zebra Technologies Corporation $18.1B 35.2× 18.8× +20.42% (above 0%: growing) +122.27% (above 0%: growing) +52.31% (above 0%: growing) 52.99% 20.62% Compare
VIAV Viavi Solutions Inc. $10.8B — (loss-making) 59.1× +52.53% (above 0%: growing) +250.00% (above 0%: growing) +6,100.00% (above 0%: growing) 59.06% 13.83% Compare
VSAT Viasat Inc. $9.3B — (loss-making) — (loss-making) −1.24% (below 0%: shrinking) n/m −31.14% (below 0%: shrinking) 35.70% 4.09% Compare
Median of peers $30.5B 35.2× 30.9× +21.94% +122.27% +19.36% 45.62% 15.93%

All 47 Communication Equipment stocks →

Ericsson (ERIC) key facts

  • Strength: Ericsson’s revenue for fiscal 2025 (year ended December 2025) was $24.2 billion, up 3.15% from fiscal 2024.
  • Ericsson (ERIC) is a Communication Equipment company in the Technology sector, traded in the US as an ADR.
  • As of October 12, 2026, ERIC traded at $9.38, a market capitalization of $29.1 billion.
  • Ericsson pays an annual dividend of $0.32 per share, a yield of 3.34%, with a payout ratio of 41.0%.
  • Return on equity was 29.0% and debt-to-equity 0.30.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 2.89 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Ericsson (ERIC) Latest News

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stockrow.com/ERIC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com