NOKIA OYJ (NOA3.DE) Fundamental Analysis & Valuation

FRA:NOA3 • FI0009000681

Current stock price

7.17 EUR
+0.09 (+1.21%)
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.
  • NOA3 had a positive operating cash flow in each of the past 5 years.
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.
  • The Return On Equity of NOA3 (3.10%) is comparable to the rest of the industry.
  • NOA3 has a Return On Invested Capital (2.23%) which is in line with its industry peers.
  • NOA3 had an Average Return On Invested Capital over the past 3 years of 3.51%. This is significantly below the industry average of 11.85%.
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)3.51%
ROIC(5y)4.47%
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

  • Looking at the Profit Margin, with a value of 3.27%, NOA3 is in line with its industry, outperforming 56.25% of the companies in the same industry.
  • NOA3's Profit Margin has declined in the last couple of years.
  • The Operating Margin of NOA3 (4.08%) is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of NOA3 has declined.
  • NOA3 has a Gross Margin of 43.54%. This is comparable 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 RankSector Rank
OM 4.08%
PM (TTM) 3.27%
GM 43.54%
OM growth 3Y-23.64%
OM growth 5Y-5.02%
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

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

5

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
  • The number of shares outstanding for NOA3 has been reduced compared to 5 years ago.
  • The debt/assets ratio for NOA3 has been reduced compared to a year ago.
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 2.88 indicates that NOA3 is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • The Altman-Z score of NOA3 (2.88) is comparable to the rest of the 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.
  • Looking at the Debt to FCF ratio, with a value of 3.01, NOA3 is in line with its industry, outperforming 59.38% of the companies in the same industry.
  • A Debt/Equity ratio of 0.15 indicates that NOA3 is not too dependend on debt financing.
  • NOA3 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 2.88
ROIC/WACC0.27
WACC8.11%
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

  • 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 43.75% of its industry peers.
  • A Quick Ratio of 1.36 indicates that NOA3 should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.36, NOA3 is in line with its industry, outperforming 59.38% of the companies in the same 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

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

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.
  • Looking at the last year, NOA3 shows a small growth in Revenue. The Revenue has grown by 2.29% in the last 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.
  • 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 Year2.61%
Revenue Next 2Y3.19%
Revenue Next 3Y3.75%
Revenue Next 5Y2.99%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • 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.
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

More info and screens

Find the best growth stocksShow best growing peers

3

4. NOA3.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 24.72, 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.
  • The average S&P500 Price/Earnings ratio is at 25.71. NOA3 is around the same levels.
  • With a Price/Forward Earnings ratio of 22.31, NOA3 is valued on the expensive side.
  • NOA3's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. NOA3 is cheaper than 62.50% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.83. NOA3 is around the same levels.
Industry RankSector Rank
PE 24.72
Fwd PE 22.31
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

4.2 Price Multiples

  • NOA3's Enterprise Value to EBITDA is on the same level as the industry average.
  • NOA3's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 27.32
EV/EBITDA 18.84
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 NOA3 does not grow enough to justify the current Price/Earnings ratio.
  • A more expensive valuation may be justified as NOA3's earnings are expected to grow with 12.92% in the coming years.
PEG (NY)2.28
PEG (5Y)11.2
EPS Next 2Y13.25%
EPS Next 3Y12.92%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

2

5. NOA3.DE Dividend Analysis

5.1 Amount

  • NOA3 has a Yearly Dividend Yield of 1.96%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 2.44, NOA3 pays a bit more dividend than its industry peers.
  • NOA3's Dividend Yield is comparable with the S&P500 average which is at 1.91.
Industry RankSector Rank
Dividend Yield 1.96%

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

  • 116.59% of the earnings are spent on dividend by NOA3. This is not a sustainable payout ratio.
DP116.59%
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

More info and screens

Find the best dividend stocksShow peers with best dividend

NOA3.DE Fundamentals: All Metrics, Ratios and Statistics

NOKIA OYJ

FRA:NOA3 (3/13/2026, 7:00:00 PM)

7.17

+0.09 (+1.21%)

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 Cap40.03B
Revenue(TTM)19.89B
Net Income(TTM)651.00M
Analysts72.43
Price Target5.85 (-18.41%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.96%
Yearly Dividend0.06
Dividend Growth(5Y)N/A
DP116.59%
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)4.32%
EPS NQ rev (1m)-3%
EPS NQ rev (3m)-27.42%
EPS NY rev (1m)-3.45%
EPS NY rev (3m)-6.89%
Revenue NQ rev (1m)-0.49%
Revenue NQ rev (3m)-4.85%
Revenue NY rev (1m)-1.19%
Revenue NY rev (3m)-0.98%
Valuation
Industry RankSector Rank
PE 24.72
Fwd PE 22.31
P/S 2.01
P/FCF 27.32
P/OCF 19.33
P/B 1.91
P/tB 2.95
EV/EBITDA 18.84
EPS(TTM)0.29
EY4.04%
EPS(NY)0.32
Fwd EY4.48%
FCF(TTM)0.26
FCFY3.66%
OCF(TTM)0.37
OCFY5.17%
SpS3.56
BVpS3.76
TBVpS2.43
PEG (NY)2.28
PEG (5Y)11.2
Graham Number4.95
Profitability
Industry RankSector Rank
ROA 1.73%
ROE 3.1%
ROCE 2.94%
ROIC 2.23%
ROICexc 2.95%
ROICexgc 4.58%
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)3.51%
ROIC(5y)4.47%
ROICexc(3y)4.95%
ROICexc(5y)6.48%
ROICexgc(3y)7.49%
ROICexgc(5y)9.95%
ROCE(3y)4.63%
ROCE(5y)5.91%
ROICexgc growth 3Y-28.05%
ROICexgc growth 5Y-13.73%
ROICexc growth 3Y-28.96%
ROICexc growth 5Y-11.41%
OM growth 3Y-23.64%
OM growth 5Y-5.02%
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 107.25%
Profit Quality 225.04%
Current Ratio 1.58
Quick Ratio 1.36
Altman-Z 2.88
F-Score5
WACC8.11%
ROIC/WACC0.27
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-59.94%
EBIT growth 3Y-29.16%
EBIT growth 5Y-6.79%
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 24.72 and the Price/Book (PB) ratio is 1.91.


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 116.59%.