NOKIA OYJ (NOKIA.PA) Stock Fundamental Analysis
Europe - EPA:NOKIA - FI0009000681 - Common Stock
5.872 EUR
-0.08 (-1.28%)
Overall NOKIA gets a fundamental rating of 4 out of 10. We evaluated NOKIA against 27 industry peers in the Communications Equipment industry. NOKIA has only an average score on both its financial health and profitability. NOKIA is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
NOKIA had positive earnings in the past year.
NOKIA had a positive operating cash flow in the past year.
Of the past 5 years NOKIA 4 years were profitable.
In the past 5 years NOKIA always reported a positive cash flow from operatings.
1.2 Ratios
NOKIA has a Return On Assets (2.57%) which is in line with its industry peers.
The Return On Equity of NOKIA (4.74%) is comparable to the rest of the industry.
With a Return On Invested Capital value of 2.86%, NOKIA perfoms like the industry average, outperforming 55.56% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for NOKIA 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
Looking at the Profit Margin, with a value of 4.70%, NOKIA is in line with its industry, outperforming 59.26% of the companies in the same industry.
NOKIA's Profit Margin has improved in the last couple of years.
The Operating Margin of NOKIA (6.02%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of NOKIA has grown nicely.
NOKIA has a Gross Margin (43.88%) which is in line with its industry peers.
In the last couple of years the Gross Margin of NOKIA 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 NOKIA is destroying value.
Compared to 1 year ago, NOKIA has less shares outstanding
NOKIA has less shares outstanding than it did 5 years ago.
The debt/assets ratio for NOKIA has been reduced compared to a year ago.
2.2 Solvency
NOKIA has an Altman-Z score of 2.61. This is not the best score and indicates that NOKIA is in the grey zone with still only limited risk for bankruptcy at the moment.
The Altman-Z score of NOKIA (2.61) is comparable to the rest of the industry.
NOKIA has a debt to FCF ratio of 3.16. This is a good value and a sign of high solvency as NOKIA would need 3.16 years to pay back of all of its debts.
The Debt to FCF ratio of NOKIA (3.16) is better than 62.96% of its industry peers.
NOKIA has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
NOKIA has a Debt to Equity ratio of 0.16. This is in the better half of the industry: NOKIA outperforms 74.07% 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
NOKIA has a Current Ratio of 1.48. This is a normal value and indicates that NOKIA is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of NOKIA (1.48) is comparable to the rest of the industry.
A Quick Ratio of 1.23 indicates that NOKIA should not have too much problems paying its short term obligations.
NOKIA has a Quick ratio (1.23) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.48 | ||
| Quick Ratio | 1.23 |
3. Growth
3.1 Past
The earnings per share for NOKIA have decreased by 0.00% in the last year.
The Earnings Per Share has been growing by 11.14% on average over the past years. This is quite good.
Looking at the last year, NOKIA 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
NOKIA 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
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
A Price/Earnings ratio of 18.94 indicates a rather expensive valuation of NOKIA.
Based on the Price/Earnings ratio, NOKIA is valued a bit cheaper than 77.78% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 25.67. NOKIA is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 17.21, NOKIA is valued on the expensive side.
NOKIA's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. NOKIA is cheaper than 74.07% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 31.86. NOKIA is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.94 | ||
| Fwd PE | 17.21 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NOKIA is valued a bit cheaper than 66.67% of the companies in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as NOKIA.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.52 | ||
| EV/EBITDA | 12.71 |
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
NOKIA has a Yearly Dividend Yield of 2.27%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 5.15, NOKIA pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.40, NOKIA has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.27% |
5.2 History
The dividend of NOKIA has a limited annual growth rate of 5.44%.
Dividend Growth(5Y)5.44%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
NOKIA pays out 81.90% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of NOKIA 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%
EPA:NOKIA (11/7/2025, 5:29:32 PM)
5.872
-0.08 (-1.28%)
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 Cap31.59B
Revenue(TTM)19.75B
Net Income(TTM)928.00M
Analysts71.67
Price Target5.04 (-14.17%)
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)8.93%
PT rev (3m)6.09%
EPS NQ rev (1m)-2.06%
EPS NQ rev (3m)1.54%
EPS NY rev (1m)0%
EPS NY rev (3m)-15.71%
Revenue NQ rev (1m)-1.23%
Revenue NQ rev (3m)-1.55%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.83%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.94 | ||
| Fwd PE | 17.21 | ||
| P/S | 1.6 | ||
| P/FCF | 24.52 | ||
| P/OCF | 16.59 | ||
| P/B | 1.61 | ||
| P/tB | 2.62 | ||
| EV/EBITDA | 12.71 |
EPS(TTM)0.31
EY5.28%
EPS(NY)0.34
Fwd EY5.81%
FCF(TTM)0.24
FCFY4.08%
OCF(TTM)0.35
OCFY6.03%
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 / NOKIA.PA FAQ
Can you provide the ChartMill fundamental rating for NOKIA OYJ?
ChartMill assigns a fundamental rating of 4 / 10 to NOKIA.PA.
Can you provide the valuation status for NOKIA OYJ?
ChartMill assigns a valuation rating of 3 / 10 to NOKIA OYJ (NOKIA.PA). This can be considered as Overvalued.
What is the profitability of NOKIA stock?
NOKIA OYJ (NOKIA.PA) has a profitability rating of 5 / 10.
How financially healthy is NOKIA OYJ?
The financial health rating of NOKIA OYJ (NOKIA.PA) is 5 / 10.
Can you provide the expected EPS growth for NOKIA stock?
The Earnings per Share (EPS) of NOKIA OYJ (NOKIA.PA) is expected to decline by -30.06% in the next year.