ERICSSON LM TELEPHONE (ERIC) Company Report

Analyst Coverage

Research analysts who have asked questions during ERICSSON LM TELEPHONE earnings calls.

Andreas Joelsson

Carnegie Investment Bank

5 questions for ERIC

Also covers: TIGO

Andrew Gardiner

Citigroup

5 questions for ERIC

Also covers: ARM, ASML, IFNNY +1 more

Felix Henriksson

Nordea Bank Abp

5 questions for ERIC

Also covers: NOK, TELNY

Sami Sarkamies

Danske Bank A/S

5 questions for ERIC

Also covers: NOK

Sandeep Deshpande

JPMorgan Chase & Co.

5 questions for ERIC

Also covers: ASML, IFNNY, NOK +1 more

Sébastien Sztabowicz

Kepler Cheuvreux

4 questions for ERIC

Also covers: IFNNY, NOK, STM

Daniel Djurberg

Handelsbanken

3 questions for ERIC

Also covers: NOK

Didier Scemama

Bank of America

3 questions for ERIC

Also covers: ASML, IFNNY, LOGI +1 more

Francois-Xavier Bouvignies

UBS

3 questions for ERIC

Also covers: ASML, NOK, NXPI +1 more

Jakob Bluestone

BNP Paribas

3 questions for ERIC

Also covers: IFNNY, NOK

Joachim Gunell

DNB Markets

3 questions for ERIC

Also covers: NOK, YUBCF, YUBICO.ST

Ulrich Rathe

Sanford C. Bernstein & Co., LLC

3 questions for ERIC

Also covers: LBTYA, NOK, TELNY

Alexander Duval

Goldman Sachs

2 questions for ERIC

Also covers: ASML, NOK

Erik Lindholm-Rojestal

SEB

2 questions for ERIC

Also covers: YUBCF, YUBICO.ST

Fredrik Lithell

Handelsbanken Capital Markets

2 questions for ERIC

Also covers: NOK, TELNY

Richard Kramer

Arete Research

2 questions for ERIC

Also covers: AAPL, CRTO, NOK +2 more

Simon Granath

ABG Sundal Collier

2 questions for ERIC

Erik Rosenstahl

SEB

1 question for ERIC

Janardan Menon

Jefferies

1 question for ERIC

Also covers: IFNNY, STM

Joseph Zhou

Barclays PLC

1 question for ERIC

Robert Sanders

Deutsche Bank

1 question for ERIC

Also covers: NOK

Terence Tsui

Morgan Stanley

1 question for ERIC

Latest news

Recent press releases and 8-K filings for ERIC.

Ericsson announces Q4 and Full-Year 2025 results

ERIC

Earnings

Dividends

Share Buyback

ERICSSON LM TELEPHONE CO reported Q4 2025 net sales of SEK 69.3 billion, an organic increase of 6% year-over-year, and full-year 2025 net sales of SEK 236.7 billion, with 2% organic growth year-over-year.
For Q4 2025, the company achieved a net income of SEK 8.6 billion and diluted EPS of SEK 2.57, while full-year 2025 saw net income of SEK 28.7 billion and diluted EPS of SEK 8.51.
The adjusted EBITA margin was 18.3% in Q4 2025 and 18.1% for the full year, representing the ninth consecutive quarter of year-over-year adjusted EBITA margin expansion.
The Board of Directors will propose an increased dividend of SEK 3.00 per share for 2025 and a SEK 15.0 billion share buyback program to the AGM.
The company generated free cash flow before M&A of SEK 14.9 billion in Q4 2025 and SEK 26.8 billion for the full year, resulting in a net cash position of SEK 61.2 billion at year-end 2025.

Jan 23, 2026, 9:38 PM

6-K

Ericsson Reports Strong Q4 2025 Results, Proposes Increased Shareholder Distributions

ERIC

Earnings

Share Buyback

Dividends

Ericsson concluded 2025 with a strong performance, achieving an 18% EBITDA margin in Q4 and 18.1% for the full year, approaching its long-term target of 15%-18%. The company's net cash position exceeded SEK 61 billion at year-end.
Net sales for Q4 totaled SEK 69.3 billion, with organic sales growing 6% year-on-year across all segments. For the full year, net sales reached SEK 236.7 billion, with 2% organic sales growth.
The Board plans to propose an increased dividend of SEK 3 per share and a share buyback program of up to SEK 15 billion at the upcoming AGM, reflecting strong cash generation in 2025.
Looking ahead to 2026, Ericsson anticipates elevated restructuring charges due to planned headcount reductions. While the RAN market is expected to be flattish, the company projects growth from new areas such as Mission Critical 5G, Core, and Enterprise.

Jan 23, 2026, 8:00 AM

Transcript

Ericsson Reports Strong Q4 2025 Results, Proposes Record Shareholder Distribution

ERIC

Earnings

Dividends

Share Buyback

Ericsson reported a strong end to 2025, achieving an 18% EBITDA margin for both Q4 and the full year, nearing its long-term target of 15%-18%.
The company achieved 6% organic sales growth in Q4 2025, contributing to 2% organic sales growth for the full year.
Ericsson ended 2025 with a net cash position of over SEK 61 billion.
The board proposed a significant shareholder distribution, including an increased dividend of SEK 3 per share and a new share buyback program of up to SEK 15 billion, totaling SEK 25 billion.
For 2026, the company anticipates elevated restructuring charges due to ongoing headcount reductions.

Jan 23, 2026, 8:00 AM

Transcript

Ericsson Reports Strong Q4 2025 Results and Announces Shareholder Distributions

ERIC

Earnings

Guidance Update

Share Buyback

Ericsson reported strong Q4 2025 results with net sales of SEK 69.3 billion and organic sales growth of 6% year on year, contributing to a full-year organic sales growth of 2%. The EBITDA margin reached 18.3% for Q4 and 18.1% for the full year 2025, nearing the long-term target of 15%-18%.
The company ended the year with a net cash position of over SEK 61 billion and generated SEK 26.8 billion in cash flow before M&A for the full year. The Board proposes an increased dividend of SEK 3 per share and a share buyback program of up to SEK 15 billion.
For 2026, Ericsson anticipates a flattish RAN market and expects elevated restructuring charges due to continued headcount reductions, including 5,000 reductions over the past year.
Strategic focus remains on investing in growth opportunities like 5G Core, Mission Critical Networks, and enterprises, which are expected to drive a modestly growing top line (low to mid-single digits) in the longer term, despite the flattish mobile networks market.

Jan 23, 2026, 8:00 AM

Transcript

Ericsson's Vonage Launches Fraud Prevention Network APIs in U.S.

ERIC

Product Launch

New Projects/Investments

Vonage, a part of Ericsson, has commercially launched its fraud prevention Network APIs, including Silent Authentication and SIM Swap, across the U.S..
This launch makes Vonage the first to bring these specific APIs to enterprises and developers across all major U.S. carrier networks.
The new APIs leverage carrier-verified trust signals for advanced fraud detection, with Freenow (a part of Lyft) and Persona already onboarded as customers.
Silent Authentication has shown 3 to 5 times faster authentication and up to 8 percentage points higher conversion rates, while SIM Swap detection can improve fraud detection by 30-40%.

Nov 17, 2025, 4:00 PM

Press Release

Ericsson and Export Development Canada Announce $3 Billion Partnership

ERIC

New Projects/Investments

Ericsson has entered into a three-year, USD $3 billion partnership agreement with Export Development Canada (EDC).
This partnership is designed to expand investment in Canadian research and development, strengthen domestic supply chains, and accelerate next-generation technologies such as 5G, Cloud RAN, AI, and quantum innovation.
The agreement builds upon a previous CAD 634.8 million R&D agreement with the Government of Canada announced in 2024, further solidifying Ericsson's long-term commitment to Canadian innovation.

Oct 15, 2025, 10:00 AM

Press Release

Ericsson Reports Q3 2025 Results with Strong Profitability Boosted by Divestment

ERIC

Earnings

M&A

Guidance Update

Ericsson reported a -2% organic sales decline in Q3 2025, with total reported sales reaching SEK 56.2 billion.
Profitability significantly increased, with adjusted EBITA at SEK 15.8 billion (28.1% margin) and diluted EPS at SEK 3.33. These figures include a SEK 7.6 billion capital gain from the divestment of iconectiv, which contributed SEK 1.72 per share to EPS.
The adjusted gross margin improved to 48.1% in Q3 2025, up from 46.3% in Q3 2024, driven by operational execution and cost efficiency.
The company maintained a strong cash position, with net cash increasing to SEK 51.9 billion. Management expects Enterprise organic sales to stabilize in Q4 and the RAN market to remain broadly stable.

Oct 14, 2025, 6:06 PM

6-K

Ericsson Announces Q3 2025 Results and Plans for Shareholder Returns

ERIC

Earnings

Guidance Update

Dividends

Ericsson reported Q3 2025 net sales of SEK 56.2 billion, with organic sales declining 2% year-on-year, primarily due to reduced sales in the Americas.
The company achieved a three-year high EBITDA margin of 14.7% (excluding the iConnective sale gain) and a gross margin of 48.1%, driven by structural improvements in its cost base and operational efficiency, including a reduction of 6,000 employees over the last year.
Adjusted EBITDA increased by SEK 0.4 billion to SEK 8.2 billion, and cash flow before M&A was SEK 6.6 billion, leading to an elevated net cash position of SEK 51.9 billion.
Due to the strong cash position, the board plans to propose increased shareholder returns through extra dividends and/or a share buyback program at the upcoming Annual General Meeting.
For Q4, Ericsson anticipates sales growth broadly similar to the three-year average quarter-on-quarter seasonality and expects Networks adjusted gross margin to be in the range of 49% to 51%.

Oct 14, 2025, 7:00 AM

Transcript

Ericsson Updates Capital Structure on May 30 2025

ERIC

Share Buyback

Executive Compensation

Total shares increased to 3,371,351,735 with 261,755,983 A shares and 3,109,595,752 B shares, and total votes of 572,715,558.2, reflecting the updated capital structure.
The increase stems from issuing 23.1 million C shares, subsequently repurchased and converted into B shares, supporting the Long-Term Variable Compensation Programs.

May 30, 2025, 12:00 AM

6-K

Ericsson Announces Share Transfer Mandate Utilization

ERIC

Ericsson’s AGM on March 25, 2025 authorized the company to retain and sell up to 60% of the vested LTV 2022 shares of series B to cover tax and social security liabilities related to performance share awards.
The transfer, involving a maximum of 368,692 series B shares from the existing 38,390,417 held, may occur on Nasdaq Stockholm from May 19, 2025 until the AGM in 2026 at a registered price interval.

May 19, 2025, 12:00 AM

6-K