NOKIA OYJ (NOA3.DE) Stock Fundamental Analysis
Europe - Frankfurt Stock Exchange - FRA:NOA3 - FI0009000681 - Common Stock
5.312 EUR
+0.04 (+0.72%)
Overall NOA3 gets a fundamental rating of 5 out of 10. We evaluated NOA3 against 28 industry peers in the Communications Equipment industry. Both the profitability and the financial health of NOA3 get a neutral evaluation. Nothing too spectacular is happening here. 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.
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
The Return On Assets of NOA3 (2.57%) is better than 64.29% of its industry peers.
NOA3 has a Return On Equity (4.74%) which is comparable to the rest of the industry.
NOA3's Return On Invested Capital of 2.86% is in line compared to the rest of the industry. NOA3 outperforms 57.14% of its industry peers.
NOA3 had an Average Return On Invested Capital over the past 3 years of 4.03%. This is significantly below the industry average of 10.09%.
| 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
The Profit Margin of NOA3 (4.70%) is better than 60.71% of its industry peers.
In the last couple of years the Profit Margin of NOA3 has grown nicely.
With a decent Operating Margin value of 6.02%, NOA3 is doing good in the industry, outperforming 64.29% of the companies in the same industry.
NOA3's Operating Margin has improved in the last couple of years.
NOA3 has a Gross Margin (43.88%) which is comparable to the rest of the 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
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
The number of shares outstanding for NOA3 has been reduced compared to 5 years ago.
NOA3 has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 2.52 indicates that NOA3 is not a great score, but indicates only limited risk for bankruptcy at the moment.
NOA3's Altman-Z score of 2.52 is fine compared to the rest of the industry. NOA3 outperforms 64.29% 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's Debt to FCF ratio of 3.16 is fine compared to the rest of the industry. NOA3 outperforms 60.71% of its industry peers.
A Debt/Equity ratio of 0.16 indicates that NOA3 is not too dependend on debt financing.
With a decent Debt to Equity ratio value of 0.16, NOA3 is doing good in the industry, outperforming 67.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.16 | ||
| Altman-Z | 2.52 |
ROIC/WACC0.4
WACC7.08%
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 42.86% of the companies in the same industry.
NOA3 has a Quick Ratio of 1.23. 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 Quick ratio value of 1.23, NOA3 perfoms like the industry average, outperforming 46.43% of the companies in the same 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%.
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.
NOA3 shows a small growth in Revenue. In the last year, the Revenue has grown by 3.04%.
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 17.14, which indicates a rather expensive current valuation of NOA3.
Based on the Price/Earnings ratio, NOA3 is valued a bit cheaper than the industry average as 78.57% of the companies are valued more expensively.
NOA3 is valuated rather cheaply when we compare the Price/Earnings ratio to 26.15, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 15.22, the valuation of NOA3 can be described as correct.
Based on the Price/Forward Earnings ratio, NOA3 is valued a bit cheaper than 71.43% of the companies in the same industry.
NOA3 is valuated cheaply when we compare the Price/Forward Earnings ratio to 36.22, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.14 | ||
| Fwd PE | 15.22 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NOA3 is valued a bit cheaper than the industry average as 67.86% of the companies are valued more expensively.
NOA3's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 22.87 | ||
| EV/EBITDA | 11.59 |
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)1.54
EPS Next 2Y-5.39%
EPS Next 3Y-0.4%
5. Dividend
5.1 Amount
NOA3 has a Yearly Dividend Yield of 2.66%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 5.63, NOA3 pays a better dividend. On top of this NOA3 pays more dividend than 85.71% of the companies listed in the same industry.
NOA3's Dividend Yield is comparable with the S&P500 average which is at 2.32.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.66% |
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 (12/2/2025, 7:00:00 PM)
5.312
+0.04 (+0.72%)
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 Cap29.46B
Revenue(TTM)19.75B
Net Income(TTM)928.00M
Analysts70
Price Target5.73 (7.87%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.66% |
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)24.22%
PT rev (3m)24.57%
EPS NQ rev (1m)-0.26%
EPS NQ rev (3m)-1.87%
EPS NY rev (1m)-0.12%
EPS NY rev (3m)-2.2%
Revenue NQ rev (1m)0.47%
Revenue NQ rev (3m)-0.84%
Revenue NY rev (1m)0.41%
Revenue NY rev (3m)0.23%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.14 | ||
| Fwd PE | 15.22 | ||
| P/S | 1.49 | ||
| P/FCF | 22.87 | ||
| P/OCF | 15.47 | ||
| P/B | 1.5 | ||
| P/tB | 2.44 | ||
| EV/EBITDA | 11.59 |
EPS(TTM)0.31
EY5.84%
EPS(NY)0.35
Fwd EY6.57%
FCF(TTM)0.23
FCFY4.37%
OCF(TTM)0.34
OCFY6.46%
SpS3.56
BVpS3.53
TBVpS2.18
PEG (NY)N/A
PEG (5Y)1.54
Graham Number4.96
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 | 2.52 |
F-Score7
WACC7.08%
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 5Y9.55%
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 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.