Ericsson
Ericsson is a leading provider of mobile connectivity solutions to communications service providers, enterprises and the public sector.
20-F, Mar 12, 2026
Source and method
In the company’s words: first descriptive sentence of 20-F Item 4, verbatim (extractive). Item 4 · Information on the Company · 20-F · 0001193125-26-104149 · filed Mar 12, 2026
Business
How does Ericsson make money?
No revenue split that adds up to total revenue.
Empty state, nothing estimated.
What is left of every $100?
Of every $100 in revenue, $12 is net income.
Source and method
Of every $100 of revenue, FY2025.
Calculated: amount ÷ revenue × 100.
- Revenue: $236.7B
- Gross profit: $112.7B
- Operating income: $38.6B
- Net income: $28.4B
- Free cash flow: $30.3B
Where do customers sit?
No revenue-by-region breakdown in the latest annual report's XBRL data.
In the company’s words ›
“The Company’s portfolio spans the following segments: Networks, Cloud Software and Services and Enterprise (which includes Global Communications Platform, Wireless Wide Area Networks and private 5G networks).”
“In addition, segment Other consists of media businesses and other non-allocated businesses.”
“Ericsson delivers high-performing, programmable and energy-efficient networks that enable greater service differentiation.”
Item 4 · Information on the Company · 20-F · 0001193125-26-104149 · filed Mar 12, 2026
Thesis
Why do people invest?
No filing sentence met the rules.
KPIs
How fast is revenue growing?
Revenue fell 4.5% to SEK 236.7B.
Source & method
- Counted
- Total revenue, as filed in 10-K / 20-F / 10-Q XBRL.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Ericsson files annual reports with the SEC on Form 20-F (IFRS, SEK); quarterly figures appear only in 6-K reports and are not captured here as quarterly series.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Did the growth reach the shareholder?
Per share, revenue fell 13.0%.
Source & method
- Counted
- Revenue and weighted-average diluted shares, as filed, first and last fiscal year of the range.
- Formulas
- Revenue per diluted share = revenue / diluted shares; growth = (to / from) − 1. All three changes are calculated.
- Guards
- IPO: if the start year ended more than 365 days before the first SEC filing and diluted shares then rose ≥25%, the range is hidden by default (Options → Include IPO-distorted periods). Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How profitable is it?
16.3% operating margin, up from 1.7%.
47.6% gross margin, up from 44.1%.
Operating income grew 796% to SEK 38.6B.
Net income grew 142,040% to SEK 28.4B.
R&D fell 8.7% to SEK 48.9B.
EPS diluted grew 85,000% to SEK 8.51.
Source & method
- Counted
- Income statement items, as filed.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Ericsson files annual reports with the SEC on Form 20-F (IFRS, SEK); quarterly figures appear only in 6-K reports and are not captured here as quarterly series. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How much cash does it make, and where does it go?
Keeps SEK 13 of every SEK 100 as free cash.
Operating cash flow fell 29% to SEK 33.0B.
Capex grew 12% to SEK 2.6B.
Dividends grew 3.4% to SEK 9.5B.
Source & method
- Counted
- Cash flow statement items, as filed; free cash flow = operating cash flow − capex (calculated).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Ericsson files annual reports with the SEC on Form 20-F (IFRS, SEK); quarterly figures appear only in 6-K reports and are not captured here as quarterly series.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How strong is the balance sheet?
Cash: SEK 43.9B; debt not reported.
Interest expense fell 26% to SEK 3.0B.
Total assets fell 4.5% to SEK 279.2B.
Equity grew 16% to SEK 109.5B.
Cash grew 0.1% YoY to SEK 43.9B.
Total assets fell 4.5% YoY to SEK 279.2B.
Equity grew 16% YoY to SEK 109.5B.
Source & method
- Counted
- Balance sheet items at fiscal year end, as filed; total debt is derived from reported components (excl. operating leases).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Ericsson files annual reports with the SEC on Form 20-F (IFRS, SEK); quarterly figures appear only in 6-K reports and are not captured here as quarterly series.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Dependencies
Who does Ericsson depend on?
No customer above the disclosure threshold.
Customers, suppliers, stakes and mentions ›
Only what filings state. Anonymous customers stay anonymous.
Largest customers (Ericsson annual report)
No customer with a reported share of revenue (the 10-K names none above the disclosure threshold).
Suppliers named by Ericsson
No supplier among the covered companies is named in the filings.
Ericsson holds stakes in
No stake in a covered company found in SEC filings.
Others name Ericsson
1 competitor mention (e.g. Ciena) in covered companies’ filings. Mentions, not confirmed relationships.
Risks
What could go wrong?
No risk factor passed the rules and the verbatim check.
Who’s invested
Who owns more than 5%?
Investor Ab holds 6.2%.
Investor Ab6.2%
13D/A · as of Apr 4, 2025 · filed Apr 4, 2025
BlackRock, Inc.5.1%
13G · as of Dec 31, 2025 · filed Jan 21, 2026
Source and method
Holders above 5% from Schedule 13G/13D, SEC filings only.
2 filings reporting a stake below 5% (e.g. after selling) not listed.
13F holders and insider trades ›
13F data not yet loaded for this company.
Insiders, last 12 months (Form 4, open market)
0 purchases · 0 sales · $0.00 sold
Grants, gifts and tax withholding counted separately · window Oct 15, 2025 – Oct 15, 2026
All metrics
All metrics · 31 SEC metrics, FY2016–FY2025
Income statement 9
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue | ||||||||||
| D&A | not reported | not reported | not reported | not reported | not reported | |||||
| Gross profit | ||||||||||
| Income taxes | ||||||||||
| Interest expense | ||||||||||
| Net income | ||||||||||
| Operating income | ||||||||||
| Research and development | ||||||||||
| Revenue | ||||||||||
Balance sheet 7
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | ||||||||||
| Current liabilities | ||||||||||
| Current portion of long-term debt | ||||||||||
| Equity | ||||||||||
| Equity incl. NCI | ||||||||||
| Total assets | ||||||||||
| Total liabilities & equity | ||||||||||
Cash flow 5
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Capex | ||||||||||
| Dividends | ||||||||||
| Free cash flow calc. | ||||||||||
| Interest paid | ||||||||||
| Operating cash flow | ||||||||||
Per share & shares 4
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| EPS basic | ||||||||||
| EPS diluted | ||||||||||
| Wtd. shares basic | ||||||||||
| Wtd. shares diluted | ||||||||||
Other 6
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Long-term bank loans (IFRS) | ||||||||||
| NCI income | ||||||||||
| Other income (incl. interest) calc. | ||||||||||
| Pretax income | ||||||||||
| Short-term borrowings / commercial paper | ||||||||||
| Total liabilities | ||||||||||
Method
extractive: verbatim sentences selected by rules from Item 4, 3.D and 5 of the 20-F; no AI summary; every sentence matched verbatim against the filing text. Numbers: Hollsteen SEC dataset. Every value opens its SEC source · version history of all values