NOKIA OYJ (NOA3.DE) Fundamental Analysis & Valuation
FRA:NOA3 • FI0009000681
Current stock price
8.61 EUR
+0.57 (+7.14%)
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.
- 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.
1.2 Ratios
- With a Return On Assets value of 1.73%, NOA3 perfoms like the industry average, outperforming 53.13% 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 53.13% of its industry peers.
- NOA3 has a Return On Invested Capital (2.23%) which is in line with its industry peers.
- The Average Return On Invested Capital over the past 3 years for NOA3 is significantly below the industry average of 11.16%.
| 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
- NOA3 has a Profit Margin (3.27%) which is comparable to the rest of the industry.
- In the last couple of years the Profit Margin of NOA3 has declined.
- NOA3's Operating Margin of 4.08% is in line compared to the rest of the industry. NOA3 outperforms 56.25% of its industry peers.
- In the last couple of years the Operating Margin of NOA3 has declined.
- NOA3's Gross Margin of 43.54% is in line compared to the rest of the industry. NOA3 outperforms 46.88% of its industry peers.
- In the last couple of years the Gross Margin of NOA3 has grown nicely.
| 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
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NOA3 is destroying value.
- Compared to 1 year ago, NOA3 has more shares outstanding
- 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
- NOA3 has an Altman-Z score of 3.10. This indicates that NOA3 is financially healthy and has little risk of bankruptcy at the moment.
- Looking at the Altman-Z score, with a value of 3.10, NOA3 is in line with its industry, outperforming 56.25% of the companies in the same industry.
- NOA3 has a debt to FCF ratio of 3.01. This is a good value and a sign of high solvency as NOA3 would need 3.01 years to pay back of all of its debts.
- NOA3 has a Debt to FCF ratio of 3.01. This is comparable to the rest of the industry: NOA3 outperforms 53.13% of its industry peers.
- NOA3 has a Debt/Equity ratio of 0.15. This is a healthy value indicating a solid balance between debt and equity.
- The Debt to Equity ratio of NOA3 (0.15) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.15 | ||
| Debt/FCF | 3.01 | ||
| Altman-Z | 3.1 |
ROIC/WACC0.28
WACC8%
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.
- Looking at the Current ratio, with a value of 1.58, NOA3 is in line with its industry, outperforming 43.75% of the companies in the same industry.
- A Quick Ratio of 1.36 indicates that NOA3 should not have too much problems paying its short term obligations.
- NOA3 has a Quick ratio of 1.36. This is comparable to the rest of the industry: NOA3 outperforms 56.25% 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.
- The Revenue has been growing slightly by 2.29% in the past year.
- Measured over the past years, NOA3 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
- Based on estimates for the next years, NOA3 will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.57% on average per year.
- The Revenue is expected to grow by 2.99% on average over the next years.
EPS Next Y12.27%
EPS Next 2Y14.17%
EPS Next 3Y13.89%
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.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. NOA3.DE Valuation Analysis
4.1 Price/Earnings Ratio
- NOA3 is valuated quite expensively with a Price/Earnings ratio of 29.69.
- 71.88% of the companies in the same industry are more expensive than NOA3, based on the Price/Earnings ratio.
- NOA3 is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.18, which is the current average of the S&P500 Index.
- With a Price/Forward Earnings ratio of 26.45, NOA3 can be considered very expensive at the moment.
- Based on the Price/Forward 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 rather cheaply when we compare the Price/Forward Earnings ratio to 37.96, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 29.69 | ||
| Fwd PE | 26.45 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NOA3 is on the same level as its industry peers.
- The rest of the industry has a similar Price/Free Cash Flow ratio as NOA3.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 33.75 | ||
| EV/EBITDA | 22.02 |
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 13.89% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.42
PEG (5Y)13.45
EPS Next 2Y14.17%
EPS Next 3Y13.89%
5. NOA3.DE Dividend Analysis
5.1 Amount
- NOA3 has a Yearly Dividend Yield of 1.74%.
- Compared to an average industry Dividend Yield of 2.35, NOA3 pays a bit more dividend than its industry peers.
- NOA3's Dividend Yield is comparable with the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.74% |
5.2 History
Dividend Growth(5Y)N/A
Div Incr Years3
Div Non Decr Years3
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 2Y14.17%
EPS Next 3Y13.89%
NOA3.DE Fundamentals: All Metrics, Ratios and Statistics
FRA:NOA3 (4/13/2026, 7:00:00 PM)
8.61
+0.57 (+7.14%)
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 Owners38.58%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap49.44B
Revenue(TTM)19.89B
Net Income(TTM)650.00M
Analysts68.65
Price Target6.71 (-22.07%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.74% |
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)14.66%
PT rev (3m)19.05%
EPS NQ rev (1m)19.35%
EPS NQ rev (3m)-13.37%
EPS NY rev (1m)1.29%
EPS NY rev (3m)-6.37%
Revenue NQ rev (1m)0.19%
Revenue NQ rev (3m)-4.66%
Revenue NY rev (1m)0.3%
Revenue NY rev (3m)-0.89%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 29.69 | ||
| Fwd PE | 26.45 | ||
| P/S | 2.49 | ||
| P/FCF | 33.75 | ||
| P/OCF | 23.87 | ||
| P/B | 2.36 | ||
| P/tB | 3.64 | ||
| EV/EBITDA | 22.02 |
EPS(TTM)0.29
EY3.37%
EPS(NY)0.33
Fwd EY3.78%
FCF(TTM)0.26
FCFY2.96%
OCF(TTM)0.36
OCFY4.19%
SpS3.46
BVpS3.65
TBVpS2.36
PEG (NY)2.42
PEG (5Y)13.45
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 | 3.1 |
F-Score5
WACC8%
ROIC/WACC0.28
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 Y12.27%
EPS Next 2Y14.17%
EPS Next 3Y13.89%
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 Year51.48%
EBIT Next 3Y24.21%
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%.