ERIC vs. FLEX: Telefonaktiebolaget LM Ericsson vs. Flex Stock Comparison

November 11, 2026

How do Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX) both fall under the Technology Hardware & Equipment industry group, but ERIC is classified in Communications Equipment while FLEX is classified in Electronic Equipment, Instruments & Components.

Flex (FLEX) trades as ordinary local shares, while Telefonaktiebolaget LM Ericsson (ERIC) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX)
Profile Item	ERIC	FLEX
Name	Telefonaktiebolaget LM Ericsson Sponsored ADR	Flex Ltd.
Country/Region	Sweden	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Technology Hardware & Equipment	Technology Hardware & Equipment
GICS Industry	Communications Equipment	Electronic Equipment, Instruments & Components
GICS Sub-Industry	Communications Equipment	Electronic Manufacturing Services
Market Capitalization	33.25 billion USD	25.78 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	August 24, 1981	March 18, 1994
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

ERIC

FLEX

GSPC

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX)
Metric	ERIC	FLEX
Total Return (1Y)	11.58%	24.99%
Total Return (3Y, Annualized)	36.47%	59.41%
Total Return (5Y, Annualized)	2.71%	42.37%

Risk Profile

Drawdown History

ERIC

FLEX

GSPC

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX)
Metric	ERIC	FLEX
Volatility (1Y, Annualized)	36.32%	76.21%
Beta (5Y)	0.96	1.82
Max Drawdown (5Y)	-62.81%	-58.83%
Avg. Volume (3M)	9.73M	4.28M

Risk-Adjusted Performance

Risk-Return Positioning

ERIC and FLEX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX)
Metric	ERIC	FLEX
Sharpe Ratio (1Y)	0.20	0.27
Sortino Ratio (1Y)	0.29	0.44

Profitability

ROE (TTM)

Both Telefonaktiebolaget LM Ericsson (ERIC) at 18.09% and Flex (FLEX) at 19.13% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

ERIC

Technology Hardware & Equipment industry group

18.09%

Max: 42.47%
Q3: 19.13%
ERIC: 18.09%
Median: 11.00%
Q1: 1.63%
Min: -20.62%

FLEX

Technology Hardware & Equipment industry group

19.13%

Max: 42.47%
FLEX: 19.13%
Q3: 19.13%
Median: 11.00%
Q1: 1.63%
Min: -20.62%

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their ROE against the Technology Hardware & Equipment industry group benchmark.

Net Margin (TTM)

Both Telefonaktiebolaget LM Ericsson (ERIC) at 8.36% and Flex (FLEX) at 3.35% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

ERIC

Technology Hardware & Equipment industry group

8.36%

Max: 27.60%
Q3: 11.66%
ERIC: 8.36%
Median: 4.08%
Q1: 0.00%
Min: -11.02%

FLEX

Technology Hardware & Equipment industry group

3.35%

Max: 27.60%
Q3: 11.66%
Median: 4.08%
FLEX: 3.35%
Q1: 0.00%
Min: -11.02%

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their net margin against the Technology Hardware & Equipment industry group benchmark.

Operating Margin (TTM)

Flex (FLEX) at 5.05% runs core operations around its industry’s norm, while Telefonaktiebolaget LM Ericsson (ERIC) at 0.00% operates in the bottom quartile.

ERIC

Technology Hardware & Equipment industry group

0.00%

Max: 36.27%
Q3: 18.36%
Median: 8.84%
Q1: 1.46%
ERIC: 0.00%
Min: -21.39%

FLEX

Technology Hardware & Equipment industry group

5.05%

Max: 36.27%
Q3: 18.36%
Median: 8.84%
FLEX: 5.05%
Q1: 1.46%
Min: -21.39%

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their operating margin against the Technology Hardware & Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX)
Metric	ERIC	FLEX
ROE (TTM)	18.09%	19.13%
ROA (TTM)	7.07%	4.39%
Net Margin (TTM)	8.36%	3.35%
Operating Margin (TTM)	0.00%	5.05%
Gross Margin (TTM)	48.01%	9.67%

Growth

Revenue Growth

Flex (FLEX) at 8.14% is around its peer norm for revenue growth, while Telefonaktiebolaget LM Ericsson (ERIC) at -4.52% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their Revenue Growth across different time periods.

EPS Growth

Telefonaktiebolaget LM Ericsson (ERIC) at 85,000.00% clears its industry range for EPS growth, a much stronger earnings trajectory than Flex (FLEX) at 10.43%, which is closer to a typical peer reading.

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX)
Metric	ERIC	FLEX
Revenue Growth (YoY)	-4.52%	8.14%
Revenue Growth (3Y CAGR)	-4.48%	-0.69%
EPS Growth (YoY)	85,000.00%	10.43%
EPS Growth (3Y CAGR)	14.83%	10.65%

Financial Strength

Current Ratio (MRQ)

Flex (FLEX) at 1.34 keeps current ratio within its industry’s typical mid-range, while Telefonaktiebolaget LM Ericsson (ERIC) at 1.16 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for ERIC.

ERIC

Technology Hardware & Equipment industry group

1.16

Max: 5.34
Q3: 3.02
Median: 1.95
Q1: 1.32
ERIC: 1.16
Min: 0.17

FLEX

Technology Hardware & Equipment industry group

1.34

Max: 5.34
Q3: 3.02
Median: 1.95
FLEX: 1.34
Q1: 1.32
Min: 0.17

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their current ratio against the Technology Hardware & Equipment industry group benchmark.

Debt / Equity (MRQ)

Telefonaktiebolaget LM Ericsson (ERIC) at 0.41 carries an industry-typical debt-to-equity mix, while Flex (FLEX) at 1.03 uses more debt funding than most peers.

ERIC

Technology Hardware & Equipment industry group

0.41

Max: 1.76
Q3: 0.78
ERIC: 0.41
Median: 0.24
Q1: 0.04
Min: 0.01

FLEX

Technology Hardware & Equipment industry group

1.03

Max: 1.76
FLEX: 1.03
Q3: 0.78
Median: 0.24
Q1: 0.04
Min: 0.01

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their debt-to-equity ratio against the Technology Hardware & Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX)
Metric	ERIC	FLEX
Current Ratio (MRQ)	1.16	1.34
Debt / Equity (MRQ)	0.41	1.03
Net Debt / EBITDA	--	1.32

Dividends

Dividend Yield (TTM)

Neither Telefonaktiebolaget LM Ericsson (ERIC) nor Flex (FLEX) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

ERIC

Technology Hardware & Equipment industry group

0.00%

Max: 0.73%
Q3: 0.31%
ERIC: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

FLEX

Technology Hardware & Equipment industry group

0.00%

Max: 0.73%
Q3: 0.31%
FLEX: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their dividend yield against the Technology Hardware & Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

Flex (FLEX) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Telefonaktiebolaget LM Ericsson (ERIC) reports a payout of 51.66%, ranking against industry peers normally.

ERIC

Technology Hardware & Equipment industry group

51.66%

ERIC: 51.66%
Max: 32.27%
Q3: 14.48%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

FLEX

Technology Hardware & Equipment industry group

0.00%

Max: 32.27%
Q3: 14.48%
FLEX: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their payout ratio against the Technology Hardware & Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX)
Metric	ERIC	FLEX
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	51.66%	0.00%

Valuation

P/E Ratio (TTM)

Telefonaktiebolaget LM Ericsson (ERIC) at 16.55 sits in the cheaper P/E ratio quartile, while Flex (FLEX) at 25.10 is closer to its industry’s usual earnings multiple — a discount for ERIC, though growth and earnings durability still matter.

ERIC

Technology Hardware & Equipment industry group

16.55

Max: 69.48
Q3: 41.02
Median: 26.39
Q1: 19.36
ERIC: 16.55
Min: 6.07

FLEX

Technology Hardware & Equipment industry group

25.10

Max: 69.48
Q3: 41.02
Median: 26.39
FLEX: 25.10
Q1: 19.36
Min: 6.07

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their P/E ratio against the Technology Hardware & Equipment industry group benchmark.

P/S Ratio (TTM)

A sales-based read is only available for Flex (FLEX), whose P/S ratio of 0.83 ranks against industry peers; Telefonaktiebolaget LM Ericsson (ERIC) reports no figure this period.

ERIC

Technology Hardware & Equipment industry group

Max: 11.30
Q3: 5.82
Median: 2.56
Q1: 1.05
Min: 0.00
ERIC: --

FLEX

Technology Hardware & Equipment industry group

0.83

Max: 11.30
Q3: 5.82
Median: 2.56
Q1: 1.05
FLEX: 0.83
Min: 0.00

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): ERIC does not report P/S ratio, so it has no value marker; FLEX is benchmarked against the Technology Hardware & Equipment industry group.

P/B Ratio (MRQ)

Telefonaktiebolaget LM Ericsson (ERIC) at 0.33 sits in the lower P/B ratio quartile against book while Flex (FLEX) at 4.44 is valued near its industry’s middle — ERIC is cheaper on assets, though weigh it against ROE and asset quality.

ERIC

Technology Hardware & Equipment industry group

0.33

Max: 10.75
Q3: 5.52
Median: 3.17
Q1: 1.79
ERIC: 0.33
Min: 0.33

FLEX

Technology Hardware & Equipment industry group

4.44

Max: 10.75
Q3: 5.52
FLEX: 4.44
Median: 3.17
Q1: 1.79
Min: 0.33

Telefonaktiebolaget LM Ericsson (ERIC) vs. Flex (FLEX): A comparison of their P/B ratio against the Technology Hardware & Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for Telefonaktiebolaget LM Ericsson (ERIC) and Flex (FLEX)
Metric	ERIC	FLEX
P/E Ratio (TTM)	16.55	25.10
P/S Ratio (TTM)	--	0.83
P/B Ratio (MRQ)	0.33	4.44
Free Cash Flow Yield (TTM)	86.49%	2.41%