NOKIA OYJ (NOA3.DE) Stock Fundamental Analysis
Europe - Frankfurt Stock Exchange - FRA:NOA3 - FI0009000681 - Common Stock
5.148 EUR
-0.07 (-1.3%)
Taking everything into account, NOA3 scores 4 out of 10 in our fundamental rating. NOA3 was compared to 29 industry peers in the Communications Equipment industry. NOA3 has only an average score on both its financial health and profitability. NOA3 has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
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 4 of the past 5 years.
NOA3 had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
NOA3's Return On Assets of 2.57% is in line compared to the rest of the industry. NOA3 outperforms 58.62% of its industry peers.
The Return On Equity of NOA3 (4.74%) is comparable to the rest of the industry.
NOA3 has a Return On Invested Capital (2.86%) which is comparable to the rest of the industry.
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 in line with its industry peers.
In the last couple of years the Profit Margin of NOA3 has grown nicely.
With a Operating Margin value of 6.02%, NOA3 perfoms like the industry average, outperforming 58.62% of the companies in the same industry.
In the last couple of years the Operating Margin of NOA3 has grown nicely.
Looking at the Gross Margin, with a value of 43.88%, NOA3 is in line with its industry, outperforming 41.38% of the companies in the same industry.
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NOA3 is destroying value.
NOA3 has less shares outstanding than it did 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 2.47. 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.
Looking at the Altman-Z score, with a value of 2.47, NOA3 is in the better half of the industry, outperforming 62.07% of the companies in the same industry.
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.
The Debt to FCF ratio of NOA3 (3.16) 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.
Looking at the Debt to Equity ratio, with a value of 0.16, NOA3 is in the better half of the industry, outperforming 65.52% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.16 | ||
| Altman-Z | 2.47 |
ROIC/WACC0.41
WACC7.05%
2.3 Liquidity
A Current Ratio of 1.48 indicates that NOA3 should not have too much problems paying its short term obligations.
NOA3 has a Current ratio (1.48) which is in line with its industry peers.
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 48.28% 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.
NOA3 shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.14% yearly.
The Revenue has been growing slightly by 3.04% in the past 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.
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-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
The EPS growth rate is decreasing: in the next years the growth will be less 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. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 16.61, which indicates a correct valuation of NOA3.
NOA3's Price/Earnings ratio is a bit cheaper when compared to the industry. NOA3 is cheaper than 79.31% 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 25.45.
A Price/Forward Earnings ratio of 14.75 indicates a correct 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 72.41% of the companies listed in the same industry.
NOA3's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 34.46.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.61 | ||
| Fwd PE | 14.75 |
4.2 Price Multiples
65.52% of the companies in the same industry are more expensive than NOA3, based on the Enterprise Value to EBITDA ratio.
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 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
With a Yearly Dividend Yield of 2.62%, NOA3 has a reasonable but not impressive dividend return.
NOA3's Dividend Yield is rather good when compared to the industry average which is at 5.25. NOA3 pays more dividend than 86.21% of the companies in the same industry.
NOA3's Dividend Yield is comparable with the S&P500 average which is at 2.45.
| 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
81.90% of the earnings are spent on dividend by NOA3. 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.