HMS Networks AB (publ) HMS
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The news check keeps the assessment current.
General analysis — not personal advice.
Maintain the current position; consider adding only if Q3 shows the component situation is managed without clear margin pressure and order intake remains resilient.
Strong order intake and profitability confirmed in Q3 but uncertainty around component costs and high valuation support maintaining the current signal.
Sentiment remains positive after the earnings beat but is tempered by uncertainty around component costs and lack of new catalysts.
HOLD is the call. Positive is the market mood. Medium risk means some things can go wrong.
Latest change
- 22 Oct 2026 — The report was published with order intake and revenue beating expectations, driven by strong demand in Industrial Network Technology.
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Show all changes (5) — follow the company freeAbout the company
HMS Networks develops and sells hardware and software for industrial communication and Industrial ICT/IIoT. The company provides network interfaces, gateways, diagnostics and remote access through brands such as Anybus, Ewon, Intesis, Ixxat and Red Lion. Growth is driven by both organic expansion and acquisitions, with high profitability but some integration and leverage risk.
Bull case
Continued organic growth in Industrial Network Technology and successful integration of acquisitions can support profitability and ARR targets toward 2030.
Bear case
Higher input prices and longer lead times for memory components risk pressuring the gross margin in H2 and dampening order intake.
Why this signal
Strong order intake and profitability confirmed in Q3 but uncertainty around component costs and high valuation support maintaining the current signal.
Recent news
The Q3 report was published on 21 October with order intake of SEK 1,104m and revenue of SEK 1,024m, both beating expectations. The share fell 6–7 % on the report day despite the beat, driven by concerns over component costs and tariffs. Price increases take effect on 1 January 2027. The Robot S.A. acquisition is expected to close before year-end.