NOKIA OYJ (NOA3.DE) Stock Fundamental Analysis
Europe - FRA:NOA3 - FI0009000681 - Common Stock
5.842 EUR
-0.14 (-2.31%)
Taking everything into account, NOA3 scores 5 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 on the other hand it scores bad on growth.
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.
In the past 5 years NOA3 always reported a positive cash flow from operatings.
1.2 Ratios
NOA3 has a better Return On Assets (2.57%) than 62.07% of its industry peers.
NOA3 has a Return On Equity (4.74%) which is in line with its industry peers.
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
Looking at the Profit Margin, with a value of 4.70%, NOA3 is in line with its industry, outperforming 58.62% of the companies in the same industry.
NOA3's Profit Margin has improved in the last couple of years.
With a decent Operating Margin value of 6.02%, NOA3 is doing good in the industry, outperforming 62.07% of the companies in the same industry.
NOA3's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 43.88%, NOA3 is in line with its industry, outperforming 44.83% of the companies in the same industry.
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-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.
Compared to 1 year ago, NOA3 has less shares outstanding
NOA3 has less shares outstanding than it did 5 years ago.
The debt/assets ratio for NOA3 has been reduced compared to a year ago.
2.2 Solvency
NOA3 has an Altman-Z score of 2.59. 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 (2.59) which is in line with its industry peers.
NOA3 has a debt to FCF ratio of 3.16. This is a good value and a sign of high solvency as NOA3 would need 3.16 years to pay back of all of its debts.
NOA3's Debt to FCF ratio of 3.16 is fine compared to the rest of the industry. NOA3 outperforms 62.07% of 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's Debt to Equity ratio of 0.16 is fine compared to the rest of the industry. NOA3 outperforms 68.97% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.16 | ||
| Altman-Z | 2.59 |
ROIC/WACC0.4
WACC7.12%
2.3 Liquidity
A Current Ratio of 1.48 indicates that NOA3 should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.48, NOA3 is in line with its industry, outperforming 48.28% 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 51.72% of its industry peers.
| 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%.
The Earnings Per Share has been growing by 11.14% on average over the past years. This is quite good.
The Revenue has been growing slightly by 3.04% in the past 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
Based on estimates for the next years, NOA3 will show a small growth in Earnings Per Share. The EPS will grow by 0.30% on average per year.
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.
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
Based on the Price/Earnings ratio of 18.85, the valuation of NOA3 can be described as rather expensive.
Based on the Price/Earnings ratio, NOA3 is valued cheaply inside the industry as 82.76% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 25.89. NOA3 is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 16.74, 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.
The average S&P500 Price/Forward Earnings ratio is at 34.59. NOA3 is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.85 | ||
| Fwd PE | 16.74 |
4.2 Price Multiples
68.97% 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 | 24.4 | ||
| EV/EBITDA | 12.46 |
4.3 Compensation for Growth
NOA3 has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.69
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.
Compared to an average industry Dividend Yield of 5.25, NOA3 pays a better dividend. On top of this NOA3 pays more dividend than 82.76% of the companies listed in the same industry.
NOA3's Dividend Yield is comparable with the S&P500 average which is at 2.44.
| 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.
The dividend of NOA3 is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP81.9%
EPS Next 2Y-5.39%
EPS Next 3Y-0.4%
FRA:NOA3 (11/14/2025, 7:00:00 PM)
5.842
-0.14 (-2.31%)
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 Cap31.42B
Revenue(TTM)19.75B
Net Income(TTM)928.00M
Analysts70
Price Target5.05 (-13.56%)
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 | 18.85 | ||
| Fwd PE | 16.74 | ||
| P/S | 1.59 | ||
| P/FCF | 24.4 | ||
| P/OCF | 16.5 | ||
| P/B | 1.6 | ||
| P/tB | 2.6 | ||
| EV/EBITDA | 12.46 |
EPS(TTM)0.31
EY5.31%
EPS(NY)0.35
Fwd EY5.98%
FCF(TTM)0.24
FCFY4.1%
OCF(TTM)0.35
OCFY6.06%
SpS3.67
BVpS3.64
TBVpS2.24
PEG (NY)N/A
PEG (5Y)1.69
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 | 2.59 |
F-Score7
WACC7.12%
ROIC/WACC0.4
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 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 6 / 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.