HMS Networks AB (publ) (HMS) Fair Value & Analysis
Technology · SE · Market cap 24.2B SEK (≈ $2.5B) · ISIN SE0009997018
What is HMS Networks AB (publ) really worth?
A solid business, but trading 169% above our fair value of kr 190.66.
Strengths
Risks
For context
Fair value as of: Aug 14, 2026
From 24 valuation models · updated 22 days ago
Share price +2.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (kr 238.33). The favourable scenario is already priced in.
- Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.
How to read this chart
60‑month range kr 252.31 – kr 589.50 · fair‑value band kr 143.00 – kr 238.33 · the kr 513.00 price screens above the kr 190.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.
Analysis
HMS Networks AB (publ) (HMS) currently trades at kr 513.00, while our model-based Fair Value estimate is kr 190.66, implying the stock looks roughly 169.0% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of kr 295.91 per share, and 0 of the 24 models we run sit above the kr 513.00 price. Bear case: the Asset-Based group reads lowest at kr 46.40, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, HMS Networks AB (publ) generated revenue of 3.7B SEK at a net margin of 13.2%. Revenue grew 9.1% year over year. It earns a return on equity of 13.6%. Net debt stands at 2.3B SEK. Fundamentals as of Aug 14, 2026
Our scenario range runs from kr 143.00 (bear case) to kr 238.33 (bull case); at kr 513.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 38% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −52% fair-value upside, at −63%, HMS screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 4.20 per share, which is 2.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models (kr 295.91) versus Asset-Based (kr 46.40). Highest evidence: FCF DCF (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 55
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
HMS Networks AB (publ) provides industrial information and communication technology solutions worldwide. The company offers industrial data products, including HMI and panel meters, industrial controllers, network diagnostics, network security, and remote gateway products; industrial network connectivity products comprising embedded network interfaces, …
Full company description
HMS Networks AB (publ) provides industrial information and communication technology solutions worldwide. The company offers industrial data products, including HMI and panel meters, industrial controllers, network diagnostics, network security, and remote gateway products; industrial network connectivity products comprising embedded network interfaces, functional safety, gateways and protocol converters, industrial PC interfaces, industrial wireless, and switches and infrastructure products; building automation gateway products that include AC cloud control, AC, AW heat pump, and protocol converter gateways; vehicle and medical communication products, such as computing gateways, infrastructure components, and PC interfaces; and related software, tools, and accessories. Its products are used for battery energy storage, EV charging, factory to building, HVAC control, lighting control, mobile robots, PLCs, robot controllers, and smart metering applications. The company also provides building control and connectivity; CAN connectivity, access, and diagnostics; functional safety; industrial network connectivity, diagnostics, infrastructure, and security; industrial remote access; machine visualization/control; and vehicle network connectivity solutions. It sells its products under the Anybus, Ixxat, Ewon, Intesis, Red Lion, and N-Tron brands. The company serves automotive, building and factory automation, food and beverage, medical, packaging, power generation, process automation, transport and infrastructure, warehouse and distribution, and water/wastewater industries. HMS Networks AB (publ) was founded in 1988 and is headquartered in Halmstad, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
HMS Networks AB (publ) reported revenue of 3.6B SEK in FY2025 versus 2.0B SEK in FY2021, a compound +16.1%/yr. Reported net income was 435M SEK in FY2025, compounding +5.2%/yr from FY2021.
of which total revenue +17.6 % · buybacks/dilution −0.7 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
HMS screens 169% overvalued. Compare with Cisco Systems, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- HMS Networks AB (HMNKF) Q2 2026 Earnings Call Highlights: Record Growth and Strategic Challenges
- Invitation to HMS Networks’ second quarter conference call 2026
- HMS Networks (OM:HMS) Is Up 10.6% After Strong Q1 Results And New Incentive Plan - Has The Bull Case Changed?
- HMS Networks AB (HMNKF) Q1 2026 Earnings Call Highlights: Strong Organic Growth and Strategic ...
Peer Group
Communication Equipment · 302 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Communication Equipment median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cisco Systems, Inc CSCO | $112.15 | $61.53 | −45% |
| Zhongji Innolight Co 300308 | ¥866.12 | ¥171.09 | −80% |
| Foxconn Industrial Internet Co 601138 | ¥61.83 | ¥28.65 | −54% |
| Eoptolink Technology Inc 300502 | ¥429.90 | ¥176.99 | −59% |
| Nokia Oyj NOK | $10.21 | $3.78 | −63% |
| Motorola Solutions, Inc MSI | $491.24 | $236.33 | −52% |
| Yangtze Optical Fibre And Cable Joint Stock Limited 601869 | ¥400.03 | ¥201.38 | −50% |
| Suzhou TFC Optical Communication Co 300394 | ¥276.25 | ¥43.67 | −84% |
| Telefonaktiebolaget LM Ericsson (publ), ERIC | $10.13 | $19.85 | +96% |
| Accton Technology Corporation 2345 | 2,270 TWD | 1,135 TWD | −50% |
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