NOKIA OYJ (NOA3.DE) Stock Fundamental Analysis
Europe - Frankfurt Stock Exchange - FRA:NOA3 - FI0009000681 - Common Stock
5.148 EUR
-0.07 (-1.3%)
We assign a fundamental rating of 4 out of 10 to NOA3. NOA3 was compared to 29 industry peers in the Communications Equipment industry. NOA3 has an average financial health and profitability rating. NOA3 is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year NOA3 was profitable.
NOA3 had a positive operating cash flow in the past year.
NOA3 had positive earnings in 4 of the past 5 years.
NOA3 had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a Return On Assets value of 2.57%, NOA3 perfoms like the industry average, outperforming 58.62% of the companies in the same industry.
NOA3 has a Return On Equity (4.74%) which is comparable to the rest of the industry.
NOA3 has a Return On Invested Capital (2.86%) 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 11.51%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.57% | ||
| ROE | 4.74% | ||
| ROIC | 2.86% |
ROA(3y)4.94%
ROA(5y)2.38%
ROE(3y)9.78%
ROE(5y)3.69%
ROIC(3y)4.03%
ROIC(5y)4.01%
1.3 Margins
NOA3 has a Profit Margin (4.70%) which is comparable to the rest of the industry.
In the last couple of years the Profit Margin of NOA3 has grown nicely.
NOA3's Operating Margin of 6.02% is in line compared to the rest of the industry. NOA3 outperforms 58.62% of its industry peers.
NOA3's Operating Margin has improved in the last couple of years.
NOA3 has a Gross Margin (43.88%) which is in line with its industry peers.
NOA3's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.02% | ||
| PM (TTM) | 4.7% | ||
| GM | 43.88% |
OM growth 3Y-3.28%
OM growth 5Y14.2%
PM growth 3Y-3.13%
PM growth 5Y194.44%
GM growth 3Y5.04%
GM growth 5Y5.25%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NOA3 is destroying value.
The number of shares outstanding for NOA3 has been reduced compared to 1 year ago.
NOA3 has less shares outstanding than it did 5 years ago.
NOA3 has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 2.47 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 2.47. This is in the better half of the industry: NOA3 outperforms 62.07% of its industry peers.
The Debt to FCF ratio of NOA3 is 3.16, which is a good value as it means it would take NOA3, 3.16 years of fcf income to pay off all of its debts.
NOA3 has a Debt to FCF ratio (3.16) which is in line with its industry peers.
NOA3 has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
NOA3 has a Debt to Equity ratio of 0.16. This is in the better half of the industry: NOA3 outperforms 65.52% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.16 | ||
| Altman-Z | 2.47 |
ROIC/WACC0.41
WACC7.05%
2.3 Liquidity
NOA3 has a Current Ratio of 1.48. 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 1.48, NOA3 is in line with its industry, outperforming 44.83% of the companies in the same industry.
A Quick Ratio of 1.23 indicates that NOA3 should not have too much problems paying its short term obligations.
The Quick ratio of NOA3 (1.23) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.48 | ||
| Quick Ratio | 1.23 |
3. Growth
3.1 Past
NOA3 shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by 0.00%.
NOA3 shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.14% yearly.
Looking at the last year, NOA3 shows a small growth in Revenue. The Revenue has grown by 3.04% in the last year.
NOA3 shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -3.79% yearly.
EPS 1Y (TTM)0%
EPS 3Y1.77%
EPS 5Y11.14%
EPS Q2Q%0%
Revenue 1Y (TTM)3.04%
Revenue growth 3Y-4.69%
Revenue growth 5Y-3.79%
Sales Q2Q%11.6%
3.2 Future
The Earnings Per Share is expected to grow by 0.30% on average over the next years.
Based on estimates for the next years, NOA3 will show a small growth in Revenue. The Revenue will grow by 3.15% on average per year.
EPS Next Y-30.14%
EPS Next 2Y-5.39%
EPS Next 3Y-0.4%
EPS Next 5Y0.3%
Revenue Next Year3.74%
Revenue Next 2Y3.74%
Revenue Next 3Y3.4%
Revenue Next 5Y3.15%
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 decreasing.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 16.61 indicates a correct valuation of NOA3.
79.31% of the companies in the same industry are more expensive than NOA3, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 25.45. NOA3 is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 14.75, NOA3 is valued correctly.
Compared to the rest of the industry, the Price/Forward Earnings ratio of NOA3 indicates a somewhat cheap valuation: NOA3 is cheaper than 72.41% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 34.46, NOA3 is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.61 | ||
| Fwd PE | 14.75 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NOA3 is valued a bit cheaper than the industry average as 65.52% of the companies are valued more expensively.
NOA3's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.5 | ||
| EV/EBITDA | 10.97 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)1.49
EPS Next 2Y-5.39%
EPS Next 3Y-0.4%
5. Dividend
5.1 Amount
NOA3 has a Yearly Dividend Yield of 2.62%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 5.25, NOA3 pays a better dividend. On top of this NOA3 pays more dividend than 86.21% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.45, NOA3 has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.62% |
5.2 History
The dividend of NOA3 has a limited annual growth rate of 5.44%.
Dividend Growth(5Y)5.44%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
NOA3 pays out 81.90% of its income as dividend. This is not a sustainable payout ratio.
NOA3's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP81.9%
EPS Next 2Y-5.39%
EPS Next 3Y-0.4%
FRA:NOA3 (11/21/2025, 7:00:00 PM)
5.148
-0.07 (-1.3%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)
Earnings (Next)
Inst Owners36.69%
Inst Owner ChangeN/A
Ins Owners0.1%
Ins Owner ChangeN/A
Market Cap27.69B
Revenue(TTM)19.75B
Net Income(TTM)928.00M
Analysts70
Price Target5.05 (-1.9%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.62% |
Yearly Dividend0.13
Dividend Growth(5Y)5.44%
DP81.9%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-4.03%
Min EPS beat(2)-24.77%
Max EPS beat(2)16.71%
EPS beat(4)2
Avg EPS beat(4)-1.21%
Min EPS beat(4)-27.18%
Max EPS beat(4)30.42%
EPS beat(8)4
Avg EPS beat(8)-0.71%
EPS beat(12)5
Avg EPS beat(12)-3.87%
EPS beat(16)9
Avg EPS beat(16)-1.37%
Revenue beat(2)1
Avg Revenue beat(2)-3.52%
Min Revenue beat(2)-7.83%
Max Revenue beat(2)0.79%
Revenue beat(4)2
Avg Revenue beat(4)-2.39%
Min Revenue beat(4)-7.83%
Max Revenue beat(4)1.17%
Revenue beat(8)2
Avg Revenue beat(8)-6.37%
Revenue beat(12)3
Avg Revenue beat(12)-5.91%
Revenue beat(16)4
Avg Revenue beat(16)-4.64%
PT rev (1m)9.55%
PT rev (3m)9.63%
EPS NQ rev (1m)1.35%
EPS NQ rev (3m)0.9%
EPS NY rev (1m)-0.12%
EPS NY rev (3m)-15.81%
Revenue NQ rev (1m)-0.36%
Revenue NQ rev (3m)-1.26%
Revenue NY rev (1m)0.41%
Revenue NY rev (3m)-0.42%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.61 | ||
| Fwd PE | 14.75 | ||
| P/S | 1.4 | ||
| P/FCF | 21.5 | ||
| P/OCF | 14.54 | ||
| P/B | 1.41 | ||
| P/tB | 2.29 | ||
| EV/EBITDA | 10.97 |
EPS(TTM)0.31
EY6.02%
EPS(NY)0.35
Fwd EY6.78%
FCF(TTM)0.24
FCFY4.65%
OCF(TTM)0.35
OCFY6.88%
SpS3.67
BVpS3.64
TBVpS2.24
PEG (NY)N/A
PEG (5Y)1.49
Graham Number5.04
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.57% | ||
| ROE | 4.74% | ||
| ROCE | 4.51% | ||
| ROIC | 2.86% | ||
| ROICexc | 3.72% | ||
| ROICexgc | 5.91% | ||
| OM | 6.02% | ||
| PM (TTM) | 4.7% | ||
| GM | 43.88% | ||
| FCFM | 6.52% |
ROA(3y)4.94%
ROA(5y)2.38%
ROE(3y)9.78%
ROE(5y)3.69%
ROIC(3y)4.03%
ROIC(5y)4.01%
ROICexc(3y)5.79%
ROICexc(5y)5.89%
ROICexgc(3y)8.68%
ROICexgc(5y)9.27%
ROCE(3y)6.35%
ROCE(5y)6.32%
ROICexgc growth 3Y-10.42%
ROICexgc growth 5Y11%
ROICexc growth 3Y-8.64%
ROICexc growth 5Y12.18%
OM growth 3Y-3.28%
OM growth 5Y14.2%
PM growth 3Y-3.13%
PM growth 5Y194.44%
GM growth 3Y5.04%
GM growth 5Y5.25%
F-Score7
Asset Turnover0.55
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.16 | ||
| Debt/EBITDA | 1.39 | ||
| Cap/Depr | 57.04% | ||
| Cap/Sales | 3.12% | ||
| Interest Coverage | 5.45 | ||
| Cash Conversion | 83.95% | ||
| Profit Quality | 138.79% | ||
| Current Ratio | 1.48 | ||
| Quick Ratio | 1.23 | ||
| Altman-Z | 2.47 |
F-Score7
WACC7.05%
ROIC/WACC0.41
Cap/Depr(3y)53.08%
Cap/Depr(5y)50.54%
Cap/Sales(3y)2.6%
Cap/Sales(5y)2.5%
Profit Quality(3y)92.93%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)0%
EPS 3Y1.77%
EPS 5Y11.14%
EPS Q2Q%0%
EPS Next Y-30.14%
EPS Next 2Y-5.39%
EPS Next 3Y-0.4%
EPS Next 5Y0.3%
Revenue 1Y (TTM)3.04%
Revenue growth 3Y-4.69%
Revenue growth 5Y-3.79%
Sales Q2Q%11.6%
Revenue Next Year3.74%
Revenue Next 2Y3.74%
Revenue Next 3Y3.4%
Revenue Next 5Y3.15%
EBIT growth 1Y-26.89%
EBIT growth 3Y-7.82%
EBIT growth 5Y9.88%
EBIT Next Year10.01%
EBIT Next 3Y12.49%
EBIT Next 5Y9.54%
FCF growth 1Y288.3%
FCF growth 3Y-0.72%
FCF growth 5YN/A
OCF growth 1Y13500%
OCF growth 3Y-1.71%
OCF growth 5Y44.92%
NOKIA OYJ / NOA3.DE 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 for NOA3 stock?
ChartMill assigns a valuation rating of 4 / 10 to NOKIA OYJ (NOA3.DE). This can be considered as Fairly Valued.
Can you provide the profitability details for NOKIA OYJ?
NOKIA OYJ (NOA3.DE) has a profitability rating of 5 / 10.
How financially healthy is NOKIA OYJ?
The financial health rating of NOKIA OYJ (NOA3.DE) is 5 / 10.
What is the earnings growth outlook for NOKIA OYJ?
The Earnings per Share (EPS) of NOKIA OYJ (NOA3.DE) is expected to decline by -30.14% in the next year.