Last 47 quarters of trend data · Technology · Communication Equipment
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Telefonaktiebolaget LM Ericsson (publ)'s quarterly P/E stands at 1.0x, down 29.9% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 14.6% YoY to 0.6x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 13.63 | 0.96 | 0.62 | 1.58 | 1.67 | 1.37 | 1.71 | — | 1.72 | 1.64 | — | — | 3.25 |
| — | -29.9% | -63.6% | — | -2.9% | -16.4% | — | — | -47.0% | +94.4% | — | — | +25.2% | |
| P/S Ratio | 1.51 | 0.12 | 0.12 | 0.13 | 0.13 | 0.09 | 0.11 | 0.09 | 0.08 | 0.08 | 0.06 | 0.07 | 0.08 |
| — | +32.3% | +17.5% | +47.8% | +51.2% | +16.1% | +71.1% | +26.4% | +5.7% | +30.1% | -7.1% | -27.6% | -43.2% | |
| P/B Ratio | 3.31 | 0.29 | 0.27 | 0.33 | 0.31 | 0.29 | 0.30 | 0.25 | 0.17 | 0.22 | 0.15 | 0.14 | 0.16 |
| — | +1.4% | -9.4% | +32.8% | +81.0% | +33.9% | +96.1% | +82.1% | +9.1% | +44.8% | +9.2% | -29.0% | -43.9% | |
| P/FCF | 11.75 | 0.54 | 0.95 | 2.00 | 1.90 | 0.37 | 0.48 | 0.60 | 0.95 | 0.40 | 4.88 | — | — |
| — | +45.1% | +98.5% | +231.5% | +99.5% | -7.4% | -90.2% | — | — | +51.8% | +291.4% | — | — | |
| EV / EBITDA | 8.93 | 0.64 | 0.78 | 1.13 | 0.74 | 0.56 | 0.89 | 1.74 | 1.84 | 1.04 | 0.23 | 1.85 | 1.06 |
| — | +14.6% | -12.1% | -35.3% | -59.4% | -45.7% | +280.1% | -5.6% | +73.6% | +138.1% | -63.4% | +330.0% | +1625.4% | |
| EV / EBIT | 10.96 | 0.75 | 0.47 | 1.34 | 0.95 | 0.78 | 1.30 | — | 1.80 | 1.73 | — | 60.38 | 2.36 |
| — | -4.3% | -64.2% | — | -47.1% | -54.6% | — | — | -23.8% | +129.9% | — | +6360.6% | +2306.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Telefonaktiebolaget LM Ericsson (publ)'s operating margin was 17.1% in Q4 2025, up 3.4 pp QoQ and up 3.5 pp YoY. This marks the 4th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 13.6% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 3.7% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.1% | 48.0% | 48.1% | 48.0% | 48.5% | 46.3% | 46.3% | 43.9% | 42.7% | 41.1% | 39.2% | 38.3% | 39.8% |
| — | +3.7% | +3.9% | +9.4% | +13.6% | +12.5% | +18.1% | +14.8% | +7.3% | -0.9% | -5.4% | -9.3% | -5.8% | |
| Operating Margin | 13.8% | 17.1% | 13.7% | 12.4% | 11.3% | 13.6% | 11.8% | 5.4% | 4.4% | 10.3% | 6.2% | 3.9% | 6.4% |
| — | +25.5% | +16.0% | +130.1% | +156.2% | +31.8% | +90.9% | +38.6% | -31.4% | -18.3% | -39.3% | -65.3% | -39.7% | |
| Net Margin | 12.0% | 12.4% | 19.8% | 8.1% | 7.5% | 6.6% | 6.2% | -18.6% | 4.8% | 4.7% | -47.6% | -1.1% | 2.4% |
| — | +88.6% | +221.2% | +143.7% | +57.1% | +38.8% | +113.0% | -1647.3% | +98.0% | -33.1% | -720.8% | -114.8% | -54.6% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 26.3% | 7.9% | 11.7% | 5.3% | 4.4% | 5.5% | 4.4% | -11.5% | 2.6% | 3.1% | -26.1% | -0.5% | 1.2% |
| — | +43.5% | +165.8% | +145.7% | +69.9% | +75.3% | +116.9% | -2017.6% | +119.8% | -27.1% | -727.2% | -113.8% | -56.7% | |
| ROA | 9.3% | 3.0% | 4.0% | 1.6% | 1.4% | 1.7% | 1.3% | -3.8% | 0.9% | 1.0% | -9.5% | -0.2% | 0.4% |
| — | +73.7% | +197.0% | +143.2% | +56.0% | +66.6% | +114.1% | -1760.0% | +99.9% | -36.4% | -701.6% | -114.3% | -53.4% | |
| ROIC | 22.3% | 8.1% | 5.7% | 5.8% | 4.9% | 8.2% | 5.5% | 2.1% | 1.5% | 4.3% | 2.2% | 1.3% | 2.2% |
| — | -1.8% | +4.2% | +173.4% | +226.5% | +90.3% | +153.2% | +57.0% | -32.1% | -22.8% | -57.2% | -80.9% | -55.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Telefonaktiebolaget LM Ericsson (publ)'s Debt/EBITDA ratio is 3.5x, down from 4.7x last quarter — at a moderate level that warrants monitoring. The current ratio has improved 10.6% YoY to 1.29x, strengthening the short-term liquidity position. Debt/Equity has declined for 3 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.42 | 0.42 | 0.43 | 0.51 | 0.50 | 0.49 | 0.51 | 0.58 | 0.45 | 0.56 | 0.45 | 0.32 | 0.34 |
| — | -14.7% | -15.9% | -12.1% | +10.5% | -12.2% | +14.1% | +80.8% | +33.1% | +76.0% | +44.5% | +3.9% | -22.7% | |
| Debt / EBITDA | 1.22 | 3.45 | 4.73 | 5.12 | 5.30 | 3.60 | 4.88 | 8.39 | 10.20 | 5.61 | 1.21 | 8.19 | 6.42 |
| — | -4.0% | -2.9% | -39.0% | -48.0% | -35.9% | +302.1% | +2.5% | +58.7% | +81.1% | -72.3% | +89.9% | +0.8% | |
| Current Ratio | 1.29 | 1.29 | 1.17 | 1.09 | 1.09 | 1.17 | 1.19 | 1.14 | 1.22 | 1.20 | 1.10 | 1.10 | 1.13 |
| — | +10.6% | -1.9% | -4.7% | -10.3% | -2.3% | +8.9% | +3.6% | +7.6% | +0.4% | -6.0% | -31.0% | -23.0% | |
| Quick Ratio | 1.08 | 1.08 | 0.94 | 0.86 | 0.88 | 0.96 | 0.95 | 0.90 | 0.94 | 0.92 | 0.79 | 0.78 | 0.83 |
| — | +12.3% | -0.7% | -3.9% | -6.2% | +5.0% | +20.0% | +15.1% | +12.9% | +4.9% | -3.0% | -37.7% | -29.2% | |
| Interest Coverage | 10.73 | 20.45 | 10.48 | 7.49 | 7.70 | 10.10 | 7.36 | 3.13 | 2.13 | 5.78 | 3.89 | 2.65 | 4.63 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Telefonaktiebolaget LM Ericsson (publ)'s current P/E is 13.6x. The average P/E over the last 4 quarters is 1.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Telefonaktiebolaget LM Ericsson (publ)'s current operating margin is 13.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Telefonaktiebolaget LM Ericsson (publ)'s business trajectory between earnings reports.