NOKIA OYJ (NOKIA.PA) Stock Fundamental Analysis
Europe - Euronext Paris - EPA:NOKIA - FI0009000681 - Common Stock
5.55 EUR
-0.03 (-0.54%)
We assign a fundamental rating of 5 out of 10 to NOKIA. NOKIA was compared to 32 industry peers in the Communications Equipment industry. NOKIA has only an average score on both its financial health and profitability. NOKIA has a valuation in line with the averages, but on the other hand it scores bad on growth.
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.
- NOKIA had positive earnings in 4 of the past 5 years.
- Each year in the past 5 years NOKIA had a positive operating cash flow.
1.2 Ratios
- NOKIA's Return On Assets of 2.57% is fine compared to the rest of the industry. NOKIA outperforms 70.97% of its industry peers.
- NOKIA's Return On Equity of 4.74% is fine compared to the rest of the industry. NOKIA outperforms 64.52% of its industry peers.
- With a decent Return On Invested Capital value of 2.84%, NOKIA is doing good in the industry, outperforming 64.52% 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 11.49%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.57% | ||
| ROE | 4.74% | ||
| ROIC | 2.84% |
ROA(3y)4.94%
ROA(5y)2.38%
ROE(3y)9.78%
ROE(5y)3.69%
ROIC(3y)4.06%
ROIC(5y)4.02%
1.3 Margins
- NOKIA has a better Profit Margin (4.70%) than 64.52% of its industry peers.
- In the last couple of years the Profit Margin of NOKIA has grown nicely.
- NOKIA has a Operating Margin of 6.02%. This is in the better half of the industry: NOKIA outperforms 67.74% of its industry peers.
- NOKIA's Operating Margin has improved in the last couple of years.
- NOKIA's Gross Margin of 43.88% is in line compared to the rest of the industry. NOKIA outperforms 54.84% of its industry peers.
- NOKIA'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-2.82%
OM growth 5Y14.53%
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.
- The number of shares outstanding for NOKIA has been reduced compared to 1 year ago.
- NOKIA has less shares outstanding than it did 5 years ago.
- NOKIA has a better debt/assets ratio than last year.
2.2 Solvency
- NOKIA has an Altman-Z score of 2.56. 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.
- NOKIA's Altman-Z score of 2.56 is fine compared to the rest of the industry. NOKIA outperforms 61.29% of its industry peers.
- The Debt to FCF ratio of NOKIA is 3.16, which is a good value as it means it would take NOKIA, 3.16 years of fcf income to pay off all of its debts.
- NOKIA has a better Debt to FCF ratio (3.16) than 64.52% 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's Debt to Equity ratio of 0.16 is fine compared to the rest of the industry. NOKIA outperforms 77.42% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.16 | ||
| Altman-Z | 2.56 |
ROIC/WACC0.4
WACC7.08%
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.
- With a Current ratio value of 1.48, NOKIA perfoms like the industry average, outperforming 58.06% of the companies in the same industry.
- NOKIA has a Quick Ratio of 1.23. This is a normal value and indicates that NOKIA is financially healthy and should not expect problems in meeting its short term obligations.
- NOKIA's Quick ratio of 1.23 is fine compared to the rest of the industry. NOKIA outperforms 61.29% 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 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.
- Measured over the past years, NOKIA shows a decrease in Revenue. The Revenue has been decreasing by -3.79% on average per year.
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 0.01% on average over the next years.
- Based on estimates for the next years, NOKIA will show a small growth in Revenue. The Revenue will grow by 2.85% on average per year.
EPS Next Y-28.02%
EPS Next 2Y-5.57%
EPS Next 3Y0.02%
EPS Next 5Y0.01%
Revenue Next Year4.09%
Revenue Next 2Y4.03%
Revenue Next 3Y3.74%
Revenue Next 5Y2.85%
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
- Based on the Price/Earnings ratio of 17.90, the valuation of NOKIA can be described as rather expensive.
- NOKIA's Price/Earnings ratio is rather cheap when compared to the industry. NOKIA is cheaper than 87.10% of the companies in the same industry.
- NOKIA is valuated rather cheaply when we compare the Price/Earnings ratio to 27.33, which is the current average of the S&P500 Index.
- Based on the Price/Forward Earnings ratio of 15.96, the valuation of NOKIA can be described as correct.
- 80.65% of the companies in the same industry are more expensive than NOKIA, based on the Price/Forward Earnings ratio.
- The average S&P500 Price/Forward Earnings ratio is at 24.12. NOKIA is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.9 | ||
| Fwd PE | 15.96 |
4.2 Price Multiples
- 77.42% of the companies in the same industry are more expensive than NOKIA, based on the Enterprise Value to EBITDA ratio.
- NOKIA's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 23.9 | ||
| EV/EBITDA | 12.17 |
4.3 Compensation for Growth
- The decent profitability rating of NOKIA may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.61
EPS Next 2Y-5.57%
EPS Next 3Y0.02%
5. Dividend
5.1 Amount
- NOKIA has a Yearly Dividend Yield of 2.51%.
- Compared to an average industry Dividend Yield of 2.52, NOKIA pays a better dividend. On top of this NOKIA pays more dividend than 80.65% of the companies listed in the same industry.
- NOKIA's Dividend Yield is a higher than the S&P500 average which is at 1.91.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.51% |
5.2 History
Dividend Growth(5Y)N/A
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.
DP81.9%
EPS Next 2Y-5.57%
EPS Next 3Y0.02%
EPA:NOKIA (12/30/2025, 7:00:00 PM)
5.55
-0.03 (-0.54%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)10-23 2025-10-23/bmo
Earnings (Next)01-29 2026-01-29/amc
Inst Owners34.4%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap30.78B
Revenue(TTM)19.75B
Net Income(TTM)928.00M
Analysts71.11
Price Target5.61 (1.08%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.51% |
Yearly Dividend0.06
Dividend Growth(5Y)N/A
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)-0.19%
PT rev (3m)22.2%
EPS NQ rev (1m)-0.57%
EPS NQ rev (3m)-1.75%
EPS NY rev (1m)2.2%
EPS NY rev (3m)2.92%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.72%
Revenue NY rev (1m)0.12%
Revenue NY rev (3m)0.74%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.9 | ||
| Fwd PE | 15.96 | ||
| P/S | 1.56 | ||
| P/FCF | 23.9 | ||
| P/OCF | 16.16 | ||
| P/B | 1.57 | ||
| P/tB | 2.55 | ||
| EV/EBITDA | 12.17 |
EPS(TTM)0.31
EY5.59%
EPS(NY)0.35
Fwd EY6.27%
FCF(TTM)0.23
FCFY4.18%
OCF(TTM)0.34
OCFY6.19%
SpS3.56
BVpS3.53
TBVpS2.18
PEG (NY)N/A
PEG (5Y)1.61
Graham Number4.96
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.57% | ||
| ROE | 4.74% | ||
| ROCE | 4.51% | ||
| ROIC | 2.84% | ||
| ROICexc | 3.7% | ||
| ROICexgc | 5.87% | ||
| 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)4.06%
ROIC(5y)4.02%
ROICexc(3y)5.84%
ROICexc(5y)5.9%
ROICexgc(3y)8.74%
ROICexgc(5y)9.29%
ROCE(3y)6.44%
ROCE(5y)6.38%
ROICexgc growth 3Y-10%
ROICexgc growth 5Y11.31%
ROICexc growth 3Y-8.21%
ROICexc growth 5Y12.5%
OM growth 3Y-2.82%
OM growth 5Y14.53%
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 | 2.56 |
F-Score7
WACC7.08%
ROIC/WACC0.4
Cap/Depr(3y)53.08%
Cap/Depr(5y)50.54%
Cap/Sales(3y)2.65%
Cap/Sales(5y)2.53%
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-28.02%
EPS Next 2Y-5.57%
EPS Next 3Y0.02%
EPS Next 5Y0.01%
Revenue 1Y (TTM)3.04%
Revenue growth 3Y-4.69%
Revenue growth 5Y-3.79%
Sales Q2Q%11.6%
Revenue Next Year4.09%
Revenue Next 2Y4.03%
Revenue Next 3Y3.74%
Revenue Next 5Y2.85%
EBIT growth 1Y-28.3%
EBIT growth 3Y-7.39%
EBIT growth 5Y10.19%
EBIT Next Year8.19%
EBIT Next 3Y12.97%
EBIT Next 5Y9.23%
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 5 / 10 to NOKIA.PA.
What is the valuation status for NOKIA stock?
ChartMill assigns a valuation rating of 5 / 10 to NOKIA OYJ (NOKIA.PA). This can be considered as Fairly Valued.
What is the profitability of NOKIA stock?
NOKIA OYJ (NOKIA.PA) has a profitability rating of 6 / 10.
What is the earnings growth outlook for NOKIA OYJ?
The Earnings per Share (EPS) of NOKIA OYJ (NOKIA.PA) is expected to decline by -28.02% in the next year.
Can you provide the dividend sustainability for NOKIA stock?
The dividend rating of NOKIA OYJ (NOKIA.PA) is 4 / 10 and the dividend payout ratio is 81.9%.