NOKIA OYJ (1NOKIA.MI) Fundamental Analysis & Valuation

BIT:1NOKIA • FI0009000681

Current stock price

6.926 EUR
+0.07 (+0.99%)
Last:

This 1NOKIA.MI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. 1NOKIA.MI Profitability Analysis

1.1 Basic Checks

  • 1NOKIA had positive earnings in the past year.
  • 1NOKIA had a positive operating cash flow in the past year.
  • 1NOKIA had positive earnings in each of the past 5 years.
  • Each year in the past 5 years 1NOKIA had a positive operating cash flow.
1NOKIA.MI Yearly Net Income VS EBIT VS OCF VS FCF1NOKIA.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B

1.2 Ratios

  • With a Return On Assets value of 1.73%, 1NOKIA perfoms like the industry average, outperforming 56.25% of the companies in the same industry.
  • 1NOKIA has a Return On Equity (3.10%) which is comparable to the rest of the industry.
  • 1NOKIA's Return On Invested Capital of 2.23% is in line compared to the rest of the industry. 1NOKIA outperforms 56.25% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for 1NOKIA is significantly below the industry average of 11.02%.
Industry RankSector Rank
ROA 1.73%
ROE 3.1%
ROIC 2.23%
ROA(3y)2.22%
ROA(5y)4.12%
ROE(3y)4.17%
ROE(5y)8.36%
ROIC(3y)3.38%
ROIC(5y)4.4%
1NOKIA.MI Yearly ROA, ROE, ROIC1NOKIA.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 -20

1.3 Margins

  • The Profit Margin of 1NOKIA (3.27%) is comparable to the rest of the industry.
  • 1NOKIA's Profit Margin has declined in the last couple of years.
  • 1NOKIA's Operating Margin of 4.08% is in line compared to the rest of the industry. 1NOKIA outperforms 59.38% of its industry peers.
  • In the last couple of years the Operating Margin of 1NOKIA has declined.
  • The Gross Margin of 1NOKIA (43.54%) is comparable to the rest of the industry.
  • 1NOKIA's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 4.08%
PM (TTM) 3.27%
GM 43.54%
OM growth 3Y-26.73%
OM growth 5Y-7.34%
PM growth 3Y-42.32%
PM growth 5YN/A
GM growth 3Y1.99%
GM growth 5Y3.03%
1NOKIA.MI Yearly Profit, Operating, Gross Margins1NOKIA.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20 30 40

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5

2. 1NOKIA.MI Health Analysis

2.1 Basic Checks

  • 1NOKIA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • 1NOKIA has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for 1NOKIA has been reduced compared to 5 years ago.
  • Compared to 1 year ago, 1NOKIA has an improved debt to assets ratio.
1NOKIA.MI Yearly Shares Outstanding1NOKIA.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B
1NOKIA.MI Yearly Total Debt VS Total Assets1NOKIA.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

2.2 Solvency

  • 1NOKIA has an Altman-Z score of 2.83. This is not the best score and indicates that 1NOKIA is in the grey zone with still only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.83, 1NOKIA is in line with its industry, outperforming 56.25% of the companies in the same industry.
  • The Debt to FCF ratio of 1NOKIA is 3.01, which is a good value as it means it would take 1NOKIA, 3.01 years of fcf income to pay off all of its debts.
  • 1NOKIA has a Debt to FCF ratio of 3.01. This is comparable to the rest of the industry: 1NOKIA outperforms 56.25% of its industry peers.
  • 1NOKIA has a Debt/Equity ratio of 0.15. This is a healthy value indicating a solid balance between debt and equity.
  • 1NOKIA has a Debt to Equity ratio (0.15) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 3.01
Altman-Z 2.83
ROIC/WACC0.3
WACC7.51%
1NOKIA.MI Yearly LT Debt VS Equity VS FCF1NOKIA.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B 15B 20B

2.3 Liquidity

  • 1NOKIA has a Current Ratio of 1.58. This is a normal value and indicates that 1NOKIA is financially healthy and should not expect problems in meeting its short term obligations.
  • 1NOKIA's Current ratio of 1.58 is in line compared to the rest of the industry. 1NOKIA outperforms 40.63% of its industry peers.
  • A Quick Ratio of 1.36 indicates that 1NOKIA should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.36, 1NOKIA is in line with its industry, outperforming 56.25% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.58
Quick Ratio 1.36
1NOKIA.MI Yearly Current Assets VS Current Liabilites1NOKIA.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

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4

3. 1NOKIA.MI Growth Analysis

3.1 Past

  • The earnings per share for 1NOKIA have decreased strongly by -25.64% in the last year.
  • The Earnings Per Share has been growing slightly by 2.21% on average over the past years.
  • 1NOKIA shows a small growth in Revenue. In the last year, the Revenue has grown by 2.29%.
  • Measured over the past years, 1NOKIA shows a decrease in Revenue. The Revenue has been decreasing by -1.86% on average per year.
EPS 1Y (TTM)-25.64%
EPS 3Y-12.3%
EPS 5Y2.21%
EPS Q2Q%-11.11%
Revenue 1Y (TTM)2.29%
Revenue growth 3Y-7.23%
Revenue growth 5Y-1.86%
Sales Q2Q%2.37%

3.2 Future

  • The Earnings Per Share is expected to grow by 8.57% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 2.99% on average over the next years.
EPS Next Y10.83%
EPS Next 2Y13.25%
EPS Next 3Y12.92%
EPS Next 5Y8.57%
Revenue Next Year2.61%
Revenue Next 2Y3.19%
Revenue Next 3Y3.75%
Revenue Next 5Y2.99%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
1NOKIA.MI Yearly Revenue VS Estimates1NOKIA.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B 20B 25B
1NOKIA.MI Yearly EPS VS Estimates1NOKIA.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.1 0.2 0.3 0.4

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3

4. 1NOKIA.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 23.88 indicates a rather expensive valuation of 1NOKIA.
  • Based on the Price/Earnings ratio, 1NOKIA is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
  • 1NOKIA's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 25.35.
  • 1NOKIA is valuated rather expensively with a Price/Forward Earnings ratio of 21.55.
  • Based on the Price/Forward Earnings ratio, 1NOKIA is valued a bit cheaper than the industry average as 68.75% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of 1NOKIA to the average of the S&P500 Index (22.61), we can say 1NOKIA is valued inline with the index average.
Industry RankSector Rank
PE 23.88
Fwd PE 21.55
1NOKIA.MI Price Earnings VS Forward Price Earnings1NOKIA.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, 1NOKIA is valued a bit cheaper than 62.50% of the companies in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as 1NOKIA.
Industry RankSector Rank
P/FCF 26.39
EV/EBITDA 18.14
1NOKIA.MI Per share data1NOKIA.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates 1NOKIA does not grow enough to justify the current Price/Earnings ratio.
  • 1NOKIA's earnings are expected to grow with 12.92% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.2
PEG (5Y)10.82
EPS Next 2Y13.25%
EPS Next 3Y12.92%

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2

5. 1NOKIA.MI Dividend Analysis

5.1 Amount

  • 1NOKIA has a Yearly Dividend Yield of 1.94%.
  • Compared to an average industry Dividend Yield of 2.35, 1NOKIA pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.89, 1NOKIA has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.94%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 116.77% of the earnings are spent on dividend by 1NOKIA. This is not a sustainable payout ratio.
DP116.77%
EPS Next 2Y13.25%
EPS Next 3Y12.92%
1NOKIA.MI Yearly Income VS Free CF VS Dividend1NOKIA.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B
1NOKIA.MI Dividend Payout.1NOKIA.MI Dividend Payout, showing the Payout Ratio.1NOKIA.MI Dividend Payout.PayoutRetained Earnings

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1NOKIA.MI Fundamentals: All Metrics, Ratios and Statistics

NOKIA OYJ

BIT:1NOKIA (3/30/2026, 7:00:00 PM)

6.926

+0.07 (+0.99%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)01-29
Earnings (Next)04-23
Inst Owners33.81%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap38.66B
Revenue(TTM)19.89B
Net Income(TTM)650.00M
Analysts72.43
Price Target5.88 (-15.1%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.94%
Yearly Dividend0.06
Dividend Growth(5Y)N/A
DP116.77%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.86%
Min EPS beat(2)5.01%
Max EPS beat(2)16.71%
EPS beat(4)2
Avg EPS beat(4)-7.56%
Min EPS beat(4)-27.18%
Max EPS beat(4)16.71%
EPS beat(8)5
Avg EPS beat(8)0.08%
EPS beat(12)5
Avg EPS beat(12)-4.59%
EPS beat(16)9
Avg EPS beat(16)-1.48%
Revenue beat(2)1
Avg Revenue beat(2)-0.94%
Min Revenue beat(2)-2.67%
Max Revenue beat(2)0.79%
Revenue beat(4)1
Avg Revenue beat(4)-3.35%
Min Revenue beat(4)-7.83%
Max Revenue beat(4)0.79%
Revenue beat(8)2
Avg Revenue beat(8)-5.29%
Revenue beat(12)2
Avg Revenue beat(12)-6.27%
Revenue beat(16)4
Avg Revenue beat(16)-4.57%
PT rev (1m)0%
PT rev (3m)7.79%
EPS NQ rev (1m)12.01%
EPS NQ rev (3m)-16.18%
EPS NY rev (1m)-3.45%
EPS NY rev (3m)-7.57%
Revenue NQ rev (1m)-0.19%
Revenue NQ rev (3m)-5.05%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.19%
Valuation
Industry RankSector Rank
PE 23.88
Fwd PE 21.55
P/S 1.94
P/FCF 26.39
P/OCF 18.67
P/B 1.84
P/tB 2.85
EV/EBITDA 18.14
EPS(TTM)0.29
EY4.19%
EPS(NY)0.32
Fwd EY4.64%
FCF(TTM)0.26
FCFY3.79%
OCF(TTM)0.37
OCFY5.36%
SpS3.56
BVpS3.76
TBVpS2.43
PEG (NY)2.2
PEG (5Y)10.82
Graham Number4.95
Profitability
Industry RankSector Rank
ROA 1.73%
ROE 3.1%
ROCE 2.94%
ROIC 2.23%
ROICexc 2.95%
ROICexgc 4.57%
OM 4.08%
PM (TTM) 3.27%
GM 43.54%
FCFM 7.37%
ROA(3y)2.22%
ROA(5y)4.12%
ROE(3y)4.17%
ROE(5y)8.36%
ROIC(3y)3.38%
ROIC(5y)4.4%
ROICexc(3y)4.79%
ROICexc(5y)6.38%
ROICexgc(3y)7.24%
ROICexgc(5y)9.8%
ROCE(3y)4.47%
ROCE(5y)5.81%
ROICexgc growth 3Y-30.96%
ROICexgc growth 5Y-15.83%
ROICexc growth 3Y-31.84%
ROICexc growth 5Y-13.58%
OM growth 3Y-26.73%
OM growth 5Y-7.34%
PM growth 3Y-42.32%
PM growth 5YN/A
GM growth 3Y1.99%
GM growth 5Y3.03%
F-Score5
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 3.01
Debt/EBITDA 1.62
Cap/Depr 54.16%
Cap/Sales 3.05%
Interest Coverage 3.83
Cash Conversion 107.31%
Profit Quality 225.39%
Current Ratio 1.58
Quick Ratio 1.36
Altman-Z 2.83
F-Score5
WACC7.51%
ROIC/WACC0.3
Cap/Depr(3y)53.56%
Cap/Depr(5y)52.91%
Cap/Sales(3y)2.86%
Cap/Sales(5y)2.7%
Profit Quality(3y)161.1%
Profit Quality(5y)126.22%
High Growth Momentum
Growth
EPS 1Y (TTM)-25.64%
EPS 3Y-12.3%
EPS 5Y2.21%
EPS Q2Q%-11.11%
EPS Next Y10.83%
EPS Next 2Y13.25%
EPS Next 3Y12.92%
EPS Next 5Y8.57%
Revenue 1Y (TTM)2.29%
Revenue growth 3Y-7.23%
Revenue growth 5Y-1.86%
Sales Q2Q%2.37%
Revenue Next Year2.61%
Revenue Next 2Y3.19%
Revenue Next 3Y3.75%
Revenue Next 5Y2.99%
EBIT growth 1Y-59.99%
EBIT growth 3Y-32.03%
EBIT growth 5Y-9.07%
EBIT Next Year53.65%
EBIT Next 3Y24.04%
EBIT Next 5Y15.29%
FCF growth 1Y-27.51%
FCF growth 3Y18.83%
FCF growth 5Y2.74%
OCF growth 1Y-16.93%
OCF growth 3Y12%
OCF growth 5Y3.32%

NOKIA OYJ / 1NOKIA.MI Fundamental Analysis FAQ

What is the ChartMill fundamental rating of NOKIA OYJ (1NOKIA.MI) stock?

ChartMill assigns a fundamental rating of 4 / 10 to 1NOKIA.MI.


What is the valuation status for 1NOKIA stock?

ChartMill assigns a valuation rating of 3 / 10 to NOKIA OYJ (1NOKIA.MI). This can be considered as Overvalued.


Can you provide the profitability details for NOKIA OYJ?

NOKIA OYJ (1NOKIA.MI) has a profitability rating of 4 / 10.


How financially healthy is NOKIA OYJ?

The financial health rating of NOKIA OYJ (1NOKIA.MI) is 5 / 10.


Can you provide the dividend sustainability for 1NOKIA stock?

The dividend rating of NOKIA OYJ (1NOKIA.MI) is 2 / 10 and the dividend payout ratio is 116.77%.