NOKIA OYJ (NOA3.DE) Fundamental Analysis & Valuation
FRA:NOA3 • FI0009000681
Current stock price
7.37 EUR
+0.2 (+2.85%)
Last:
This NOA3.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. NOA3.DE Profitability Analysis
1.1 Basic Checks
- NOA3 had positive earnings in the past year.
- NOA3 had a positive operating cash flow in the past year.
- In the past 5 years NOA3 has always been profitable.
- In the past 5 years NOA3 always reported a positive cash flow from operatings.
1.2 Ratios
- NOA3 has a Return On Assets of 1.73%. This is comparable to the rest of the industry: NOA3 outperforms 58.06% of its industry peers.
- Looking at the Return On Equity, with a value of 3.10%, NOA3 is in line with its industry, outperforming 58.06% of the companies in the same industry.
- Looking at the Return On Invested Capital, with a value of 2.23%, NOA3 is in line with its industry, outperforming 58.06% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for NOA3 is significantly below the industry average of 10.67%.
| Industry Rank | Sector 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%
1.3 Margins
- The Profit Margin of NOA3 (3.27%) is comparable to the rest of the industry.
- NOA3's Profit Margin has declined in the last couple of years.
- With a decent Operating Margin value of 4.08%, NOA3 is doing good in the industry, outperforming 61.29% of the companies in the same industry.
- In the last couple of years the Operating Margin of NOA3 has declined.
- With a Gross Margin value of 43.54%, NOA3 perfoms like the industry average, outperforming 48.39% of the companies in the same industry.
- NOA3's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector 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%
2. NOA3.DE Health Analysis
2.1 Basic Checks
- NOA3 has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
- The number of shares outstanding for NOA3 has been increased compared to 1 year ago.
- Compared to 5 years ago, NOA3 has less shares outstanding
- The debt/assets ratio for NOA3 has been reduced compared to a year ago.
2.2 Solvency
- An Altman-Z score of 2.96 indicates that NOA3 is not a great score, but indicates only limited risk for bankruptcy at the moment.
- NOA3 has a Altman-Z score of 2.96. This is in the better half of the industry: NOA3 outperforms 61.29% of its industry peers.
- The Debt to FCF ratio of NOA3 is 3.01, which is a good value as it means it would take NOA3, 3.01 years of fcf income to pay off all of its debts.
- Looking at the Debt to FCF ratio, with a value of 3.01, NOA3 is in line with its industry, outperforming 58.06% of the companies in the same industry.
- NOA3 has a Debt/Equity ratio of 0.15. This is a healthy value indicating a solid balance between debt and equity.
- NOA3 has a Debt to Equity ratio of 0.15. This is in the better half of the industry: NOA3 outperforms 61.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.15 | ||
| Debt/FCF | 3.01 | ||
| Altman-Z | 2.96 |
ROIC/WACC0.29
WACC7.57%
2.3 Liquidity
- NOA3 has a Current Ratio of 1.58. This is a normal value and indicates that NOA3 is financially healthy and should not expect problems in meeting its short term obligations.
- NOA3's Current ratio of 1.58 is in line compared to the rest of the industry. NOA3 outperforms 45.16% of its industry peers.
- NOA3 has a Quick Ratio of 1.36. This is a normal value and indicates that NOA3 is financially healthy and should not expect problems in meeting its short term obligations.
- The Quick ratio of NOA3 (1.36) is better than 61.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.58 | ||
| Quick Ratio | 1.36 |
3. NOA3.DE Growth Analysis
3.1 Past
- The earnings per share for NOA3 have decreased strongly by -25.64% in the last year.
- NOA3 shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.21% yearly.
- Looking at the last year, NOA3 shows a small growth in Revenue. The Revenue has grown by 2.29% in the last year.
- NOA3 shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.86% yearly.
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
- NOA3 is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.57% yearly.
- NOA3 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.99% yearly.
EPS Next Y10.83%
EPS Next 2Y13.25%
EPS Next 3Y12.92%
EPS Next 5Y8.57%
Revenue Next Year2.92%
Revenue Next 2Y3.48%
Revenue Next 3Y4.03%
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.
4. NOA3.DE Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 25.41, NOA3 can be considered very expensive at the moment.
- Compared to the rest of the industry, the Price/Earnings ratio of NOA3 indicates a somewhat cheap valuation: NOA3 is cheaper than 70.97% of the companies listed in the same industry.
- NOA3 is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.21, which is the current average of the S&P500 Index.
- Based on the Price/Forward Earnings ratio of 22.93, the valuation of NOA3 can be described as rather expensive.
- Based on the Price/Forward Earnings ratio, NOA3 is valued a bit cheaper than 64.52% of the companies in the same industry.
- The average S&P500 Price/Forward Earnings ratio is at 23.13. NOA3 is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.41 | ||
| Fwd PE | 22.93 |
4.2 Price Multiples
- NOA3's Enterprise Value to EBITDA ratio is in line with the industry average.
- NOA3's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 28.89 | ||
| EV/EBITDA | 20.04 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- NOA3's earnings are expected to grow with 12.92% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.35
PEG (5Y)11.51
EPS Next 2Y13.25%
EPS Next 3Y12.92%
5. NOA3.DE Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 2.04%, NOA3 has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 2.50, NOA3 pays a bit more dividend than its industry peers.
- NOA3's Dividend Yield is comparable with the S&P500 average which is at 1.89.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.04% |
5.2 History
Dividend Growth(5Y)N/A
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
- NOA3 pays out 116.77% of its income as dividend. This is not a sustainable payout ratio.
DP116.77%
EPS Next 2Y13.25%
EPS Next 3Y12.92%
NOA3.DE Fundamentals: All Metrics, Ratios and Statistics
FRA:NOA3 (4/2/2026, 7:00:00 PM)
7.37
+0.2 (+2.85%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)01-29 2026-01-29/bmo
Earnings (Next)04-23 2026-04-23
Inst Owners33.81%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap42.32B
Revenue(TTM)19.89B
Net Income(TTM)650.00M
Analysts68.65
Price Target5.85 (-20.62%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.04% |
Yearly Dividend0.06
Dividend Growth(5Y)N/A
DP116.77%
Div Incr Years3
Div Non Decr Years3
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)3.82%
EPS NQ rev (1m)15.02%
EPS NQ rev (3m)-13.93%
EPS NY rev (1m)0%
EPS NY rev (3m)-7.57%
Revenue NQ rev (1m)0.13%
Revenue NQ rev (3m)-4.74%
Revenue NY rev (1m)0.3%
Revenue NY rev (3m)-0.89%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.41 | ||
| Fwd PE | 22.93 | ||
| P/S | 2.13 | ||
| P/FCF | 28.89 | ||
| P/OCF | 20.43 | ||
| P/B | 2.02 | ||
| P/tB | 3.12 | ||
| EV/EBITDA | 20.04 |
EPS(TTM)0.29
EY3.93%
EPS(NY)0.32
Fwd EY4.36%
FCF(TTM)0.26
FCFY3.46%
OCF(TTM)0.36
OCFY4.89%
SpS3.46
BVpS3.65
TBVpS2.36
PEG (NY)2.35
PEG (5Y)11.51
Graham Number4.88
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 2.96 |
F-Score5
WACC7.57%
ROIC/WACC0.29
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 Year2.92%
Revenue Next 2Y3.48%
Revenue Next 3Y4.03%
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 / NOA3.DE Fundamental Analysis FAQ
What is the fundamental rating for NOA3 stock?
ChartMill assigns a fundamental rating of 4 / 10 to NOA3.DE.
What is the valuation status of NOKIA OYJ (NOA3.DE) stock?
ChartMill assigns a valuation rating of 3 / 10 to NOKIA OYJ (NOA3.DE). This can be considered as Overvalued.
What is the profitability of NOA3 stock?
NOKIA OYJ (NOA3.DE) has a profitability rating of 4 / 10.
Can you provide the financial health for NOA3 stock?
The financial health rating of NOKIA OYJ (NOA3.DE) is 5 / 10.
How sustainable is the dividend of NOKIA OYJ (NOA3.DE) stock?
The dividend rating of NOKIA OYJ (NOA3.DE) is 2 / 10 and the dividend payout ratio is 116.77%.