HMS Networks sells industrial communication gateways and network products, chiefly the Anybus and Ixxat lines, that let factory machines and building systems talk to each other across different fieldbus and Ethernet protocols. Its moat is mostly switching cost and protocol breadth: once a device maker designs an Anybus module into a product, that choice tends to stick for the product's life, and the company gets 63.3% gross margins and a 23.9% operating margin from it. Revenue growth of 17.6% is running well ahead of what most industrial automation peers manage, and the business benefits from the industrial shift to Ethernet-based and IIoT connectivity. The stock is not cheap on earnings, trading at 43.2 times trailing and 40.4 times forward earnings, so the question for a deeper look is whether that growth persists long enough to justify the multiple. With no index membership and a 15.8% return on equity, the name sits in a niche that is easy to overlook but needs checking against the valuation.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 12:04 CEST | Fair value | kr 244 | kr 253 | kr 476 |
| 23 Oct 2026, 01:53 CEST | ACCE price target | kr 424 | first publication | kr 476 |
| 22 Oct 2026, 14:04 CEST | Rating | Overvalued | first publication | kr 541 |
| 22 Oct 2026, 14:04 CEST | Fair value | kr 253 | first publication | kr 541 |
Answered from HMS Networks AB (publ) fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| HMS.ST HMS Networks AB (publ) | kr 478.80 | kr 244 | 96% above | 43.5x | 15.0% | 79 | 48 |
| TSAT Telesat Corporation Class A Common Shares and Class B Variable Voting Shares | $40.40 | - | - | - | -73.0% | 21 | 28 |
| TWEKA.AS TKH Group N.V. | €49.68 | €47 | 7% above | 15.2x | 15.0% | 68 | 75 |
| DGII Digi International Inc. Common Stock | $72.80 | $40 | 83% above | 59.5x | 7.5% | 75 | 74 |
| EXTR Extreme Networks Inc. Common Stock | $22.04 | $18 | 22% above | 70.9x | 54.6% | 65 | 65 |
| HUBN.SW Huber+Suhner AG | CHF 156.20 | CHF 98 | 59% above | 39.3x | 11.2% | 63 | 38 |
| ONDS Ondas Inc. Common Stock | $6.02 | - | - | - | 19.3% | 74 | 46 |
Where HMS.ST ranks against its sector peers on each metric.