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Financial statements

ERICSSON LM TELEPHONE CO financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ERICSSON LM TELEPHONE CO files with the SEC in its annual reports.

In SEK millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2017FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue220,316205,378210,838227,216232,390232,314271,546263,351247,880236,681
Cost of revenue155,062157,451142,638142,392138,666131,565158,251161,749138,515124,013
Gross profit65,25447,92768,20084,82493,724100,749113,295101,602109,365112,668
Research and development31,63137,88738,90938,81539,71442,07447,29850,66453,51448,852
Selling, general and administrative28,31729,02727,51926,13726,68426,95735,69239,25551,65733,685
Operating income5,187-34,7431,24210,56427,80831,78027,020-20,3264,31338,634
Interest expense2,1581,5702,0322,7022,1161,6741,9304,1184,1033,047
Interest income-115-3611511,2956936917782,1452,7342,480
Pre-tax income2,894-35,958-1,4638,76227,21229,25024,609-23,3192,58938,302
Income tax1,882-3,5254,8136,9229,5896,2705,4972,7852,2159,588
Net income to minority interests179143254-383140286388342354286
Net income833-32,576-6,5302,22317,48322,69418,724-26,4462028,428
EBITDA14,073-26,2928,46319,16335,78640,23837,162-9,16914,33347,543
EPS, basic0.26-9.94-1.980.675.266.825.62-7.940.018.53
EPS, diluted0.25-9.94-1.980.675.266.815.62-7.940.018.51

Balance sheet

FY2017FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and equivalents36,96635,88438,38945,07943,61254,05038,34935,19043,88543,926
Inventory31,61825,54729,25530,86328,09735,16445,84636,07327,12523,451
Total current assets175,097153,423161,167153,914149,795174,805173,803154,988154,307143,554
Property, plant and equipment16,73412,85712,84913,85013,38313,58014,23612,19510,5458,789
Lease right-of-use assets8,4877,9807,9487,8706,3206,4876,738
Goodwill43,38727,81530,03531,20034,94538,20484,57052,94456,07746,882
Intangible assets4,1483,4742,4914,8053,83026,34022,6677,9545,631
Total assets284,150259,882268,761276,383271,530305,614349,537297,036292,374279,223
Accounts payable29,88330,40331,98835,68438,43727,76830,17326,335
Short-term debt8,0332,5452,2559,4397,9429,5905,98417,6556,1373,538
Total current liabilities100,80399,529110,914116,819114,320126,952145,620129,399131,874110,937
Lease liabilities7,5957,1047,0796,8185,2205,3635,772
Total liabilities1,1861,561180,991194,505186,353198,515216,233199,628199,391168,959
Total debt0.030.0333,12537,69630,16031,83132,93046,87338,04132,703
Retained earnings55,86644,61038,86447,96066,91885,21050,46142,29565,106
Shareholders' equity134,58296,93586,97882,55986,674108,775134,81498,67394,284109,535
Minority interests675636792-681-1,497-1,676-1,510-1,265-1,301729
Total equity135,25797,57187,77081,87885,177107,099133,30497,40892,983110,264
Total liabilities and equity284,150259,882268,761276,383271,530305,614349,537297,036292,374279,223

Cash flow statement

FY2017FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income1,012-32,433-6,2761,84017,62322,98019,112-26,10437428,714
Depreciation and amortization8,8868,4517,2218,5997,9788,45810,14211,15710,0208,909
Change in inventory4,794-2,995-704-44
Cash from operations14,0109,6019,34216,87328,93339,06530,8637,17746,26132,954
Capital expenditures-6,129-3,877-3,975-5,118-4,493-3,663-4,477-3,297-2,340-2,630
Cash from investing-8,283-16,070-4,132-3,541-15,201-19,883-34,397-8,713-15,952-11,437
Debt issued1,52713,4169115,0503,2197,88210,75519,7283,615398
Debt repaid-1,072-4,830-1,748-4,134-9,031-5,791-16,029-7,884-15,917-3,538
Stock issued13115
Dividends paid-12,263-3,424-3,425-4,450-5,996-6,889-8,415-9,104-9,233-9,545
Cash from financing-11,7425,478-4,077-6,900-12,492-9,307-15,9301,007-23,865-14,223
Exchange rate effect2,757-911,372258-2,7075633,763-2,6302,251-7,253
Net change in cash-3,258-1,0822,5056,690-1,46710,438-15,701-3,1598,69541
Free cash flow7,8815,7245,36711,75524,44035,40226,3863,88043,92130,324
Interest paid1,2697948291,8191,4349741,2502,2803,0432,205
Income taxes paid-9,1054,7245,8745,2184,3135,3686,3047,009

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.

Profitability

MetricValueHow it is calculated
Gross margin47.6%Gross profit / revenue.
Operating margin16.3%Operating income / revenue.
EBITDA margin20.1%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin16.2%Pre-tax income / revenue.
Net margin12.0%Net income / revenue.
FCF margin12.8%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin13.9%Cash from operations / revenue.
Effective tax rate25.0%Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)27.9%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)9.9%Net income / average total assets.
Return on invested capital (ROIC)31.0%Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue20.6%Research and development expense / revenue.
SG&A / revenue14.2%Selling, general and administrative expense / revenue.
Capex / revenue1.1%Capital expenditures / revenue.
D&A / revenue3.8%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y-4.5%Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y-4.5%Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y0.4%Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y3.0%Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y-0.2%Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y3.8%Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y795.8%Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y12.7%Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y6.8%Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y231.7%EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y8.6%Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y5.8%Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y142,040.0%Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y14.9%Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y10.2%Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y85,000.0%EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y14.8%Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y10.1%Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y-28.8%Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y2.2%Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y2.6%Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y-31.0%Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y4.7%Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y4.4%Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y16.2%Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y-6.7%Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y4.8%Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y-4.5%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y-7.2%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y0.6%Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

MetricValueHow it is calculated
Current ratio1.29xCurrent assets / current liabilities.
Quick ratio0.40x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.40x(Cash + short-term investments) / current liabilities.
Debt / equity0.30xTotal debt / shareholders' equity. Not shown when equity is negative.
Debt / assets11.7%Total debt / total assets.
Liabilities / assets60.5%Total liabilities / total assets.
Net debt-SEK 11.22BTotal debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA-0.24xNet debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage12.7xOperating income / interest expense.
Working capitalSEK 32.62BCurrent assets - current liabilities.
Goodwill and intangibles / assets18.8%(Goodwill + intangible assets) / total assets.
Tangible book valueSEK 57.02BShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.83xRevenue / average total assets.
Fixed asset turnover24.5xRevenue / average property, plant and equipment.
Inventory turnover4.90xCost of revenue / average inventory.
Days inventory74 days365 x average inventory / cost of revenue.
Days payables83 days365 x average accounts payable / cost of revenue.
FCF conversion106.7%Free cash flow / net income, when net income is positive.
Capex / operating cash flow8.0%Capital expenditures / cash from operations, when that is positive.

Per share

MetricValueHow it is calculated
EPS, dilutedSEK 8.51Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basicSEK 8.53Net income per basic share, as reported (split-adjusted).
Payout ratio33.6%Dividends paid / net income, when net income is positive.
Dividends / FCF31.5%Dividends paid / free cash flow, when free cash flow is positive.
What was ERICSSON LM TELEPHONE CO's revenue in fiscal 2025?

ERICSSON LM TELEPHONE CO reported revenue of SEK 236.68B for fiscal 2025, 4.5% lower than the year before.

Was ERICSSON LM TELEPHONE CO profitable in fiscal 2025?

Yes. Net income was SEK 28.43B, a net margin of 12%.

How much free cash flow did ERICSSON LM TELEPHONE CO generate in fiscal 2025?

Cash from operations of SEK 32.95B minus capital expenditures of SEK 2.63B left free cash flow of SEK 30.32B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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