NOKIA OYJ (NOA3.DE) Stock Fundamental Analysis
Europe - FRA:NOA3 - FI0009000681 - Common Stock
5.876 EUR
-0.08 (-1.41%)
NOA3 gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 27 industry peers in the Communications Equipment industry. NOA3 has an average financial health and profitability rating. NOA3 has a expensive valuation and it also scores bad on growth.
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.
Each year in the past 5 years NOA3 had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 2.57%, NOA3 is in line with its industry, outperforming 55.56% 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 10.70%.
| 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.
Looking at the Operating Margin, with a value of 6.02%, NOA3 is in line with its industry, outperforming 55.56% of the companies in the same industry.
In the last couple of years the Operating Margin of NOA3 has grown nicely.
The Gross Margin of NOA3 (43.88%) 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
Compared to 5 years ago, NOA3 has less shares outstanding
Compared to 1 year ago, NOA3 has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 2.61 indicates that NOA3 is not a great score, but indicates only limited risk for bankruptcy at the moment.
The Altman-Z score of NOA3 (2.61) is better than 62.96% of 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.
Looking at the Debt to FCF ratio, with a value of 3.16, NOA3 is in line with its industry, outperforming 59.26% of the companies in the same 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 70.37% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.16 | ||
| Altman-Z | 2.61 |
ROIC/WACC0.4
WACC7.12%
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.
NOA3 has a Current ratio (1.48) which is comparable to the rest of the industry.
A Quick Ratio of 1.23 indicates that NOA3 should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.23, NOA3 perfoms like the industry average, outperforming 48.15% of the companies in the same industry.
| 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
NOA3 is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -1.04% yearly.
The Revenue is expected to grow by 2.53% on average over the next years.
EPS Next Y-30.06%
EPS Next 2Y-6.46%
EPS Next 3Y-1.18%
EPS Next 5Y-1.04%
Revenue Next Year3.32%
Revenue Next 2Y3.45%
Revenue Next 3Y3.06%
Revenue Next 5Y2.53%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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 18.95 indicates a rather expensive valuation of NOA3.
Based on the Price/Earnings ratio, NOA3 is valued a bit cheaper than the industry average as 70.37% of the companies are valued more expensively.
NOA3's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.83.
With a Price/Forward Earnings ratio of 17.22, NOA3 is valued on the expensive side.
62.96% of the companies in the same industry are more expensive than NOA3, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 32.68. NOA3 is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.95 | ||
| Fwd PE | 17.22 |
4.2 Price Multiples
62.96% of the companies in the same industry are more expensive than NOA3, based on the Enterprise Value to EBITDA ratio.
NOA3's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.54 | ||
| EV/EBITDA | 12.74 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)1.7
EPS Next 2Y-6.46%
EPS Next 3Y-1.18%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.27%, NOA3 has a reasonable but not impressive dividend return.
NOA3's Dividend Yield is a higher than the industry average which is at 5.21.
Compared to an average S&P500 Dividend Yield of 2.37, NOA3 has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.27% |
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 Rate of NOA3 has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP81.9%
EPS Next 2Y-6.46%
EPS Next 3Y-1.18%
FRA:NOA3 (11/7/2025, 7:00:00 PM)
5.876
-0.08 (-1.41%)
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 Cap31.61B
Revenue(TTM)19.75B
Net Income(TTM)928.00M
Analysts71.67
Price Target5.04 (-14.23%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.27% |
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)8.98%
PT rev (3m)6.27%
EPS NQ rev (1m)-2.06%
EPS NQ rev (3m)13.3%
EPS NY rev (1m)0%
EPS NY rev (3m)-15.71%
Revenue NQ rev (1m)-1.23%
Revenue NQ rev (3m)6.05%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.97%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.95 | ||
| Fwd PE | 17.22 | ||
| P/S | 1.6 | ||
| P/FCF | 24.54 | ||
| P/OCF | 16.6 | ||
| P/B | 1.61 | ||
| P/tB | 2.62 | ||
| EV/EBITDA | 12.74 |
EPS(TTM)0.31
EY5.28%
EPS(NY)0.34
Fwd EY5.81%
FCF(TTM)0.24
FCFY4.07%
OCF(TTM)0.35
OCFY6.02%
SpS3.67
BVpS3.64
TBVpS2.24
PEG (NY)N/A
PEG (5Y)1.7
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 | 2.61 |
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-30.06%
EPS Next 2Y-6.46%
EPS Next 3Y-1.18%
EPS Next 5Y-1.04%
Revenue 1Y (TTM)3.04%
Revenue growth 3Y-4.69%
Revenue growth 5Y-3.79%
Sales Q2Q%11.6%
Revenue Next Year3.32%
Revenue Next 2Y3.45%
Revenue Next 3Y3.06%
Revenue Next 5Y2.53%
EBIT growth 1Y-26.89%
EBIT growth 3Y-7.82%
EBIT growth 5Y9.88%
EBIT Next Year10.01%
EBIT Next 3Y12.49%
EBIT Next 5Y8.23%
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 3 / 10 to NOKIA OYJ (NOA3.DE). This can be considered as Overvalued.
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 -30.06% in the next year.