NOKIA OYJ (NOA3.DE) Stock Fundamental Analysis
Europe - Frankfurt Stock Exchange - FRA:NOA3 - FI0009000681 - Common Stock
5.536 EUR
+0.02 (+0.4%)
Taking everything into account, NOA3 scores 5 out of 10 in our fundamental rating. NOA3 was compared to 32 industry peers in the Communications Equipment industry. NOA3 has only an average score on both its financial health and profitability. NOA3 is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
NOA3 had positive earnings in the past year.
NOA3 had a positive operating cash flow in the past year.
Of the past 5 years NOA3 4 years were profitable.
Each year in the past 5 years NOA3 had a positive operating cash flow.
1.2 Ratios
With a decent Return On Assets value of 2.57%, NOA3 is doing good in the industry, outperforming 65.63% 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 (2.84%) 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 10.60%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.57% | ||
| ROE | 4.74% | ||
| ROIC | 2.84% |
ROA(3y)4.94%
ROA(5y)2.38%
ROE(3y)9.78%
ROE(5y)3.69%
ROIC(3y)4.06%
ROIC(5y)4.02%
1.3 Margins
NOA3's Profit Margin of 4.70% is fine compared to the rest of the industry. NOA3 outperforms 62.50% of its industry peers.
In the last couple of years the Profit Margin of NOA3 has grown nicely.
NOA3 has a Operating Margin of 6.02%. This is in the better half of the industry: NOA3 outperforms 62.50% of its industry peers.
In the last couple of years the Operating Margin of NOA3 has grown nicely.
NOA3's Gross Margin of 43.88% is in line compared to the rest of the industry. NOA3 outperforms 50.00% of its industry peers.
In the last couple of years the Gross Margin of NOA3 has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.02% | ||
| PM (TTM) | 4.7% | ||
| GM | 43.88% |
OM growth 3Y-2.82%
OM growth 5Y14.53%
PM growth 3Y-3.13%
PM growth 5Y194.44%
GM growth 3Y5.04%
GM growth 5Y5.25%
2. Health
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 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
NOA3 has an Altman-Z score of 2.56. This is not the best score and indicates that NOA3 is in the grey zone with still only limited risk for bankruptcy at the moment.
NOA3 has a Altman-Z score of 2.56. This is comparable to the rest of the industry: NOA3 outperforms 59.38% 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 comparable to the rest of the industry.
NOA3 has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
NOA3's Debt to Equity ratio of 0.16 is fine compared to the rest of the industry. NOA3 outperforms 65.63% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.16 | ||
| Altman-Z | 2.56 |
ROIC/WACC0.38
WACC7.53%
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.
With a Current ratio value of 1.48, NOA3 perfoms like the industry average, outperforming 40.63% 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.
NOA3's Quick ratio of 1.23 is in line compared to the rest of the industry. NOA3 outperforms 43.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.48 | ||
| Quick Ratio | 1.23 |
3. Growth
3.1 Past
The earnings per share for NOA3 have decreased by 0.00% in the last year.
Measured over the past years, NOA3 shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.14% on average per year.
Looking at the last year, NOA3 shows a small growth in Revenue. The Revenue has grown by 3.04% in the last year.
The Revenue has been decreasing by -3.79% on average over the past years.
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.
NOA3 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.15% yearly.
EPS Next Y-28.02%
EPS Next 2Y-5.57%
EPS Next 3Y0.02%
EPS Next 5Y0.3%
Revenue Next Year4.09%
Revenue Next 2Y4.03%
Revenue Next 3Y3.74%
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
With a Price/Earnings ratio of 17.86, NOA3 is valued on the expensive side.
NOA3's Price/Earnings ratio is rather cheap when compared to the industry. NOA3 is cheaper than 81.25% of the companies in the same industry.
NOA3's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.59.
Based on the Price/Forward Earnings ratio of 15.92, the valuation of NOA3 can be described as correct.
81.25% of the companies in the same industry are more expensive than NOA3, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of NOA3 to the average of the S&P500 Index (24.03), we can say NOA3 is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.86 | ||
| Fwd PE | 15.92 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NOA3 indicates a somewhat cheap valuation: NOA3 is cheaper than 71.88% of the companies listed in the same industry.
62.50% of the companies in the same industry are more expensive than NOA3, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 23.84 | ||
| EV/EBITDA | 12.14 |
4.3 Compensation for Growth
The decent profitability rating of NOA3 may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.6
EPS Next 2Y-5.57%
EPS Next 3Y0.02%
5. Dividend
5.1 Amount
NOA3 has a Yearly Dividend Yield of 2.58%.
NOA3's Dividend Yield is rather good when compared to the industry average which is at 2.69. NOA3 pays more dividend than 87.50% of the companies in the same industry.
NOA3's Dividend Yield is a higher than the S&P500 average which is at 1.87.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.58% |
5.2 History
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
81.90% of the earnings are spent on dividend by NOA3. This is not a sustainable payout ratio.
DP81.9%
EPS Next 2Y-5.57%
EPS Next 3Y0.02%
FRA:NOA3 (12/23/2025, 7:00:00 PM)
5.536
+0.02 (+0.4%)
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 Cap30.70B
Revenue(TTM)19.75B
Net Income(TTM)928.00M
Analysts71.11
Price Target5.63 (1.7%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.58% |
Yearly Dividend0.06
Dividend Growth(5Y)N/A
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)11.45%
PT rev (3m)21.85%
EPS NQ rev (1m)1.16%
EPS NQ rev (3m)-0.51%
EPS NY rev (1m)3.04%
EPS NY rev (3m)0.77%
Revenue NQ rev (1m)0.05%
Revenue NQ rev (3m)-0.65%
Revenue NY rev (1m)0.33%
Revenue NY rev (3m)0.57%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.86 | ||
| Fwd PE | 15.92 | ||
| P/S | 1.55 | ||
| P/FCF | 23.84 | ||
| P/OCF | 16.12 | ||
| P/B | 1.57 | ||
| P/tB | 2.54 | ||
| EV/EBITDA | 12.14 |
EPS(TTM)0.31
EY5.6%
EPS(NY)0.35
Fwd EY6.28%
FCF(TTM)0.23
FCFY4.2%
OCF(TTM)0.34
OCFY6.2%
SpS3.56
BVpS3.53
TBVpS2.18
PEG (NY)N/A
PEG (5Y)1.6
Graham Number4.96
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.57% | ||
| ROE | 4.74% | ||
| ROCE | 4.51% | ||
| ROIC | 2.84% | ||
| ROICexc | 3.7% | ||
| ROICexgc | 5.87% | ||
| 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)4.06%
ROIC(5y)4.02%
ROICexc(3y)5.84%
ROICexc(5y)5.9%
ROICexgc(3y)8.74%
ROICexgc(5y)9.29%
ROCE(3y)6.44%
ROCE(5y)6.38%
ROICexgc growth 3Y-10%
ROICexgc growth 5Y11.31%
ROICexc growth 3Y-8.21%
ROICexc growth 5Y12.5%
OM growth 3Y-2.82%
OM growth 5Y14.53%
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 | 2.56 |
F-Score7
WACC7.53%
ROIC/WACC0.38
Cap/Depr(3y)53.08%
Cap/Depr(5y)50.54%
Cap/Sales(3y)2.65%
Cap/Sales(5y)2.53%
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-28.02%
EPS Next 2Y-5.57%
EPS Next 3Y0.02%
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 Year4.09%
Revenue Next 2Y4.03%
Revenue Next 3Y3.74%
Revenue Next 5Y3.15%
EBIT growth 1Y-28.3%
EBIT growth 3Y-7.39%
EBIT growth 5Y10.19%
EBIT Next Year8.43%
EBIT Next 3Y12.6%
EBIT Next 5Y9.55%
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 5 / 10 to NOA3.DE.
What is the valuation status for NOA3 stock?
ChartMill assigns a valuation rating of 5 / 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 6 / 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 -28.02% in the next year.