HMS Networks HMS.ST · SEK

Information Technology · Nasdaq Stockholm · 🇸🇪 Sweden

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475.40

+1.11%

Close of 9 Nov 2026, in SEK

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At a glance

Figures in SEK, from our data supplier.

FY2025

Revenue

SEK 3.58bn

FY2016FY2025

Net income

SEK 435.0m

FY2016FY2025

Free cash flow

SEK 815.0m

FY2016FY2025

Shareholders' equity

SEK 3.48bn

FY2016FY2025

Income statement

Fiscal years

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Revenue	SEK 3.58bn	SEK 3.06bn	SEK 3.02bn	SEK 2.51bn	SEK 1.97bn	SEK 1.47bn	SEK 1.52bn	SEK 1.37bn	SEK 1.18bn	SEK 952.3m
Gross profit	SEK 2.25bn	SEK 1.92bn	SEK 1.97bn	SEK 1.58bn	SEK 1.23bn	SEK 908.8m	SEK 927.8m	SEK 834.0m	SEK 721.7m	SEK 581.3m
Research and development	SEK 332.0m	SEK 286.7m	SEK 346.8m	SEK 260.6m	SEK 234.8m	SEK 179.8m	SEK 189.7m	SEK 162.2m	SEK 140.3m	SEK 119.1m
Operating income	SEK 902.0m	SEK 502.9m	SEK 753.0m	SEK 652.5m	SEK 450.1m	SEK 287.7m	SEK 243.1m	SEK 251.4m	SEK 212.3m	SEK 149.3m
Net income	SEK 435.0m	SEK 309.7m	SEK 570.6m	SEK 507.8m	SEK 354.9m	SEK 223.5m	SEK 206.3m	SEK 171.2m	SEK 142.7m	SEK 100.5m
Diluted earnings per share	8.64	6.11	12.19	10.89	7.53	4.76	4.39	3.63	2.99	2.10

Balance sheet

At each fiscal year end

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Total assets	SEK 6.60bn	SEK 7.50bn	SEK 3.01bn	SEK 2.73bn	SEK 2.20bn	SEK 1.83bn	SEK 1.76bn	SEK 1.58bn	SEK 1.44bn	SEK 1.41bn
Cash and short-term investments	SEK 89.0m	SEK 73.9m	SEK 124.0m	SEK 144.2m	SEK 172.2m	SEK 81.5m	SEK 51.2m	SEK 59.0m	SEK 91.0m	SEK 99.0m
Total liabilities	SEK 3.12bn	SEK 3.99bn	SEK 1.08bn	SEK 1.12bn	SEK 1.03bn	SEK 605.5m	SEK 747.2m	SEK 719.9m	SEK 717.0m	SEK 769.7m
Debt	SEK 2.25bn	SEK 3.16bn	SEK 266.9m	SEK 298.6m	SEK 84.1m	SEK 273.6m	SEK 437.4m	SEK 357.9m	SEK 372.8m	SEK 479.2m
Shareholders' equity	SEK 3.48bn	SEK 3.50bn	SEK 1.93bn	SEK 1.61bn	SEK 1.18bn	SEK 1.20bn	SEK 998.5m	SEK 856.9m	SEK 721.3m	SEK 636.4m
Shares outstanding	50m	51m	47m	47m	47m	47m	47m	47m	48m	48m

Cash flow

Fiscal years

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Cash from operations	SEK 878.0m	SEK 592.0m	SEK 518.9m	SEK 431.1m	SEK 508.5m	SEK 369.8m	SEK 253.8m	SEK 192.7m	SEK 207.1m	SEK 155.3m
Capital spending	−SEK 63.0m	−SEK 121.1m	−SEK 73.9m	−SEK 83.1m	−SEK 39.2m	−SEK 47.6m	−SEK 66.3m	−SEK 30.0m	−SEK 25.1m	−SEK 36.3m
Free cash flow	SEK 815.0m	SEK 471.0m	SEK 445.0m	SEK 348.1m	SEK 469.3m	SEK 322.1m	SEK 187.5m	SEK 162.8m	SEK 182.1m	SEK 119.0m
Dividends paid	−SEK 4.0m	−SEK 224.7m	−SEK 186.6m	−SEK 139.9m	−SEK 93.3m	−SEK 93.3m	−SEK 83.9m	−SEK 69.9m	−SEK 46.7m	−SEK 29.2m

Latest quarters

By quarter end

	Jun 2026	Mar 2026	Dec 2025	Sept 2025	Jun 2025	Mar 2025	Dec 2024	Sept 2024
Revenue	SEK 991.0m	SEK 971.0m	SEK 951.0m	SEK 894.0m	SEK 843.0m	SEK 890.0m	SEK 807.0m	SEK 792.0m
Gross profit	SEK 632.0m	SEK 606.0m	SEK 599.0m	SEK 573.0m	SEK 521.0m	SEK 561.0m	SEK 505.0m	SEK 503.0m
Operating income	SEK 258.0m	SEK 237.0m	SEK 264.0m	SEK 244.0m	SEK 138.0m	SEK 175.0m	SEK 142.0m	SEK 163.0m
Net income	SEK 155.0m	SEK 162.0m	SEK 72.0m	SEK 164.0m	SEK 84.0m	SEK 115.0m	SEK 75.0m	SEK 95.0m
Diluted earnings per share	3.09	3.23	1.43	3.26	1.67	2.28	1.48	1.87
Cash from operations	SEK 333.0m	SEK 250.0m	SEK 232.0m	SEK 257.0m	SEK 201.0m	SEK 187.0m	SEK 177.0m	SEK 205.0m
Capital spending	−SEK 14.0m	−SEK 94.0m	−SEK 25.0m	−SEK 5.0m	−SEK 33.0m	−SEK 32.0m	−SEK 30.0m	−SEK 25.0m
Free cash flow	SEK 319.0m	SEK 156.0m	SEK 207.0m	SEK 252.0m	SEK 168.0m	SEK 155.0m	SEK 147.0m	SEK 180.0m
Total assets	SEK 6.80bn	SEK 6.76bn	SEK 6.60bn	SEK 6.85bn	SEK 6.88bn	SEK 7.10bn	SEK 7.50bn	SEK 6.44bn
Cash and short-term investments	SEK 47.0m	SEK 59.0m	SEK 89.0m	SEK 101.0m	SEK 70.0m	SEK 100.0m	SEK 74.0m	SEK 98.0m
Debt	SEK 2.02bn	SEK 1.94bn	SEK 2.33bn	SEK 2.48bn	SEK 2.70bn	SEK 2.87bn	SEK 3.15bn	SEK 2.35bn
Shareholders' equity	SEK 3.70bn	SEK 3.72bn	SEK 3.48bn	SEK 3.45bn	SEK 3.32bn	SEK 3.38bn	SEK 3.50bn	SEK 3.20bn

Financial ratios

Data as of 27 Sept 2026

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Gross margin	63.0%	62.6%	65.1%	62.9%	62.4%	62.0%
Operating margin	25.2%	16.4%	24.9%	26.0%	22.8%	19.6%
Net margin	12.2%	10.1%	18.9%	20.3%	18.0%	15.2%
Return on equity	12.5%	8.8%	29.5%	31.5%	30.1%	18.6%
Return on assets	6.6%	4.1%	19.0%	18.6%	16.1%	12.2%
Free cash flow yield	3.4%	2.6%	2.3%	2.0%	2.1%	1.6%
Revenue growth	16.9%	1.1%	20.7%	27.1%	34.4%	-3.4%
Earnings growth	40.5%	-45.7%	12.4%	43.1%	58.8%	8.4%
Current ratio	1.62x	1.93x	1.95x	1.51x	1.56x	1.74x
Debt to equity	0.60x	0.85x	0.03x	0.12x	0.04x	0.18x
Equity ratio	52.7%	46.7%	64.2%	59.0%	53.4%	65.9%
Interest coverage	8.05x	3.80x	42.78x	80.48x	69.74x	38.48x
R&D as a share of sales	9.3%	9.4%	11.5%	10.4%	11.9%	12.3%
Buybacks as a share of market value	0.6%	-8.3%	-0.4%	1.0%	-0.3%	0.1%

Growth per year

Compound annual rate

	3 years	5 years	10 years
Revenue	12.6%	19.5%	17.7%
Operating income	11.4%	25.7%	24.4%
Net income	-5.0%	14.2%	21.9%

Average margins

Over each period

	1 year	3 years	5 years	10 years
Gross margin	62.8%	63.4%	63.1%	62.6%
Operating margin	21.2%	23.1%	22.7%	21.1%
Net margin	11.2%	15.0%	15.4%	14.5%

Valuation history

At each fiscal year end

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Price to earnings	48.4	71.0	40.8	31.2	74.1	57.2	39.4	33.9	41.5	36.2
Price to sales	5.9	7.2	7.7	6.3	13.3	8.7	5.3	4.3	5.0	3.8

Dividends and splits

Per share, in the currency the company pays

Paid for 0 years. Last went ex-dividend on 24 Apr 2026.

	FY2026	FY2024	FY2023	FY2022	FY2021	FY2019	FY2018	FY2017
Paid in the year	4.80	4.40	4.00	3.00	2.00	1.80	1.50	1.00

4-for-1 split · 1 Jun 2017

Sources and methodology

Data on this tab: Our data supplier
Chart on the Overview: TradingView

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HMS Networks HMS.ST · SEK

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At a glance

Income statement

Balance sheet

Cash flow

Latest quarters

Financial ratios

Growth per year

Average margins

Valuation history

Dividends and splits

Sources and methodology