ERIC
NASDAQ · Technology · Communication Equipment · SE
Research · Oct 29, 2026
Hardware Procurement Shifts Toward Prepayment and Multiyear Supply Deals
Ericsson and five hardware peers are prepaying, stockpiling, signing multiyear supply deals, or repricing as AI demand tightens memory supply.
Research · Oct 16, 2026
Ericsson (ERIC) Q3 2026: Networks Margin Beats Range, Price Increases Lag
Ericsson's Q3 2026 Networks gross margin hit 50.3%, above guidance, on product mix and one-off IPR revenue; price increases lag and inventory rose to SEK 35.4 billion.
Research · Sep 18, 2026
[ERIC] Ericsson: Q3 2026 Gross Margin and Inventory Cash Conversion
Ericsson posted Q2 2026 net sales of SEK 52.7 billion at a 48.4% adjusted gross margin; the October 15 report tests whether renegotiated price increases can offset component cost inflation.
Research · Sep 3, 2026
[ERIC] Ericsson Thesis 2026: 5G RAN Recovery Drives Cloud Software Services Mix Expansion
Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) FY2025 revenue ~SEK 250-265B (~$23-25B; +0-5%) with adj. EPS ~SEK 4.50-5.50 reflecting continued post-2024 Networks (~$15-16B; +0-5%) recovery from FY2023-2024 mobile capex downturn plus selected post-2024 Cloud Software and Services (~$5-6B; +5-10%) mix expansion plus selected post-2024 ~$2-3B aggregate cost reduction program execution + selected post-2022 Vonage ~$6.2B integration optimization under continued President + CEO Börje Ekholm (~9-year tenure since January 2017). Global telecommunications network equipment + cloud software + services provider with operations across telecommunications network equipment + cloud software + services + selected enterprise + selected various in 180+ countries. Founded April 1876 in Stockholm Sweden by Lars Magnus Ericsson (~149-year heritage; selected one of world's oldest continuing telecommunications companies); selected post-1896 incorporation as Aktiebolaget L.M. Ericsson & Co.; selected post-1972 Aktiebolaget L.M. Ericsson rebrand; selected post-2003 Telefonaktiebolaget LM Ericsson rebrand; selected post-1996 NASDAQ ADR listing; selected post-2010 ~$2.1B Sony Ericsson Mobile Communications JV exit; selected post-2014 ~$1.5B Telcordia Technologies acquisition; selected post-2017 Börje Ekholm CEO appointment + post-2017 strategic refocus; selected post-2018 ~$1B aggregate restructuring + cost reduction; selected post-2022 ~$6.2B Vonage Holdings acquisition (selected enterprise communications + APIs). Headquartered in Stockholm Sweden; ~95,000+ employees globally with ~SEK 250-265B revenue. Three primary business segments: Networks ~60-65% revenue (~SEK 155-165B / ~$15-16B — RAN equipment + 5G + selected various mobile network equipment for major operators globally), Cloud Software and Services ~20-25% (~SEK 60-65B / ~$5-6B — cloud-native 5G core + service provider software + 5G monetization platform + selected various services), Enterprise ~10-15% (~SEK 25-35B / ~$2-3B — Vonage enterprise communications + APIs + Cradlepoint cellular wireless + selected various enterprise solutions). Networks recovery cycle: ~$15-16B FY2025 revenue (+0-5% YoY post-FY2023-2024 mobile capex downturn); Reliance Jio + Bharti Airtel + Vodafone Idea (Indian operators) + T-Mobile US + AT&T + Verizon + selected various 5G RAN customers; ~30%+ aggregate global 5G RAN market share (selected leader with Huawei + Nokia); ~5-7% adj. operating margin FY2025 (vs ~3-5% FY2023-2024 trough); FY2026 outlook: ~7-10% adj. operating margin recovery. Cloud Software and Services mix expansion: ~$5-6B FY2025 revenue (+5-10% YoY); cloud-native 5G core + service provider software + 5G monetization platform; ~10-12% adj. operating margin (vs ~5-7% Networks); FY2026 catalyst: continued mix expansion. Enterprise + Vonage: ~$2-3B revenue including Vonage Holdings (post-2022 ~$6.2B acquisition; Vonage Communications Platform + APIs) + Cradlepoint (post-2020 ~$1.1B acquisition; cellular wireless WAN). President + CEO Börje Ekholm since January 2017 (selected longest-tenured Ericsson CEO continuing); CFO Lars Sandström. Capital return: ~SEK 2.85-3.10 annual dividend FY2025 (~+5-10% growth post-2024 SEK 2.85); modest opportunistic buybacks; post-2024 net cash position ~SEK 30-40B (~$3-4B); investment-grade Baa3/BBB- credit rating; ~62% Investor AB + Industrivärden combined ownership. FY2026 thesis: Networks recovery + Cloud Software mix expansion + Vonage integration optimization + ~$2-3B aggregate cost reduction + ~+5-10% dividend growth. Risks: mobile capex cycle, ~30%+ China + emerging market geographic exposure, Vonage integration execution, SEK/USD currency volatility, OpenRAN competitive intensity.