NOKIA OYJ (NOA3.DE) Fundamental Analysis & Valuation

FRA:NOA3 • FI0009000681

Current stock price

7.238 EUR
-0.06 (-0.88%)
Last:

This NOA3.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. NOA3.DE Profitability Analysis

1.1 Basic Checks

  • In the past year NOA3 was profitable.
  • In the past year NOA3 had a positive cash flow from operations.
  • NOA3 had positive earnings in each of the past 5 years.
  • In the past 5 years NOA3 always reported a positive cash flow from operatings.
NOA3.DE Yearly Net Income VS EBIT VS OCF VS FCFNOA3.DE 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%, NOA3 perfoms like the industry average, outperforming 56.25% of the companies in the same industry.
  • NOA3 has a Return On Equity of 3.10%. This is comparable to the rest of the industry: NOA3 outperforms 56.25% of its industry peers.
  • NOA3 has a Return On Invested Capital (2.23%) which is in line with its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for NOA3 is significantly below the industry average of 10.96%.
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%
NOA3.DE Yearly ROA, ROE, ROICNOA3.DE 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 NOA3 (3.27%) is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of NOA3 has declined.
  • With a Operating Margin value of 4.08%, NOA3 perfoms like the industry average, outperforming 59.38% of the companies in the same industry.
  • NOA3's Operating Margin has declined in the last couple of years.
  • NOA3 has a Gross Margin (43.54%) which is comparable to the rest of the industry.
  • NOA3'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%
NOA3.DE Yearly Profit, Operating, Gross MarginsNOA3.DE 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. NOA3.DE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NOA3 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
  • NOA3 has a better debt/assets ratio than last year.
NOA3.DE Yearly Shares OutstandingNOA3.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B
NOA3.DE Yearly Total Debt VS Total AssetsNOA3.DE 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

  • An Altman-Z score of 2.90 indicates that NOA3 is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 2.90, NOA3 perfoms like the industry average, outperforming 59.38% of the companies in the same industry.
  • 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.
  • NOA3 has a Debt to FCF ratio (3.01) which is comparable to the rest of the industry.
  • NOA3 has a Debt/Equity ratio of 0.15. This is a healthy value indicating a solid balance between debt and equity.
  • With a decent Debt to Equity ratio value of 0.15, NOA3 is doing good in the industry, outperforming 62.50% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 3.01
Altman-Z 2.9
ROIC/WACC0.29
WACC7.79%
NOA3.DE Yearly LT Debt VS Equity VS FCFNOA3.DE 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

  • A Current Ratio of 1.58 indicates that NOA3 should not have too much problems paying its short term obligations.
  • With a Current ratio value of 1.58, NOA3 perfoms like the industry average, outperforming 43.75% of the companies in the same industry.
  • 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 comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 1.58
Quick Ratio 1.36
NOA3.DE Yearly Current Assets VS Current LiabilitesNOA3.DE 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. NOA3.DE Growth Analysis

3.1 Past

  • NOA3 shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -25.64%.
  • NOA3 shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.21% yearly.
  • The Revenue has been growing slightly by 2.29% in the past 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.
  • Based on estimates for the next years, NOA3 will show a small growth in Revenue. The Revenue will grow by 2.99% on average per year.
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.
NOA3.DE Yearly Revenue VS EstimatesNOA3.DE 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
NOA3.DE Yearly EPS VS EstimatesNOA3.DE 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. NOA3.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 24.96, the valuation of NOA3 can be described as rather expensive.
  • Based on the Price/Earnings ratio, NOA3 is valued a bit cheaper than the industry average as 71.88% of the companies are valued more expensively.
  • NOA3 is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 25.23, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 22.52 indicates a rather expensive valuation of NOA3.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of NOA3 indicates a somewhat cheap valuation: NOA3 is cheaper than 65.63% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.51, NOA3 is valued at the same level.
Industry RankSector Rank
PE 24.96
Fwd PE 22.52
NOA3.DE Price Earnings VS Forward Price EarningsNOA3.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • NOA3's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NOA3 is cheaper than 62.50% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of NOA3 is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 27.58
EV/EBITDA 19.04
NOA3.DE Per share dataNOA3.DE 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 an expensive valuation of the company.
  • A more expensive valuation may be justified as NOA3's earnings are expected to grow with 12.92% in the coming years.
PEG (NY)2.3
PEG (5Y)11.3
EPS Next 2Y13.25%
EPS Next 3Y12.92%

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2

5. NOA3.DE Dividend Analysis

5.1 Amount

  • NOA3 has a Yearly Dividend Yield of 1.97%. Purely for dividend investing, there may be better candidates out there.
  • NOA3's Dividend Yield is a higher than the industry average which is at 2.44.
  • Compared to an average S&P500 Dividend Yield of 1.90, NOA3 has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.97%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years2
NOA3.DE Yearly Dividends per shareNOA3.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2022 2023 2024 2025 2026 0.05 0.1

5.3 Sustainability

  • 116.77% of the earnings are spent on dividend by NOA3. This is not a sustainable payout ratio.
DP116.77%
EPS Next 2Y13.25%
EPS Next 3Y12.92%
NOA3.DE Yearly Income VS Free CF VS DividendNOA3.DE 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
NOA3.DE Dividend Payout.NOA3.DE Dividend Payout, showing the Payout Ratio.NOA3.DE Dividend Payout.PayoutRetained Earnings

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NOA3.DE Fundamentals: All Metrics, Ratios and Statistics

NOKIA OYJ

FRA:NOA3 (3/26/2026, 7:00:00 PM)

7.238

-0.06 (-0.88%)

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 Cap40.41B
Revenue(TTM)19.89B
Net Income(TTM)650.00M
Analysts72.43
Price Target5.85 (-19.18%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.97%
Yearly Dividend0.06
Dividend Growth(5Y)N/A
DP116.77%
Div Incr Years2
Div Non Decr Years2
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)0.38%
PT rev (3m)3.82%
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)-0.71%
Revenue NQ rev (3m)-5.05%
Revenue NY rev (1m)-1.19%
Revenue NY rev (3m)-1.19%
Valuation
Industry RankSector Rank
PE 24.96
Fwd PE 22.52
P/S 2.03
P/FCF 27.58
P/OCF 19.51
P/B 1.93
P/tB 2.98
EV/EBITDA 19.04
EPS(TTM)0.29
EY4.01%
EPS(NY)0.32
Fwd EY4.44%
FCF(TTM)0.26
FCFY3.63%
OCF(TTM)0.37
OCFY5.13%
SpS3.56
BVpS3.76
TBVpS2.43
PEG (NY)2.3
PEG (5Y)11.3
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 2.9
F-Score5
WACC7.79%
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 Year2.61%
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 / 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.


Can you provide the profitability details for NOKIA OYJ?

NOKIA OYJ (NOA3.DE) has a profitability rating of 4 / 10.


What are the PE and PB ratios of NOKIA OYJ (NOA3.DE) stock?

The Price/Earnings (PE) ratio for NOKIA OYJ (NOA3.DE) is 24.96 and the Price/Book (PB) ratio is 1.93.


Can you provide the dividend sustainability for NOA3 stock?

The dividend rating of NOKIA OYJ (NOA3.DE) is 2 / 10 and the dividend payout ratio is 116.77%.