NOKIA OYJ (NOKIA.PA) Stock Fundamental Analysis
Europe - Euronext Paris - EPA:NOKIA - FI0009000681 - Common Stock
5.55 EUR
-0.03 (-0.54%)
Taking everything into account, NOKIA scores 5 out of 10 in our fundamental rating. NOKIA was compared to 31 industry peers in the Communications Equipment industry. Both the profitability and the financial health of NOKIA get a neutral evaluation. Nothing too spectacular is happening here. NOKIA is valued correctly, but 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 better Return On Assets (2.57%) than 70.97% of its industry peers.
- With a decent Return On Equity value of 4.74%, NOKIA is doing good in the industry, outperforming 64.52% of the companies in the same industry.
- The Return On Invested Capital of NOKIA (2.84%) is better than 64.52% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for NOKIA is significantly below the industry average of 11.39%.
| 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 Profit Margin of 4.70%. This is in the better half of the industry: NOKIA outperforms 64.52% of its industry peers.
- NOKIA's Profit Margin has improved in the last couple of years.
- 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.
- In the last couple of years the Operating Margin of NOKIA has grown nicely.
- NOKIA has a Gross Margin (43.88%) which is comparable to the rest of the industry.
- 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-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.
- The number of shares outstanding for NOKIA has been reduced compared to 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 2.56. 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.
- The Altman-Z score of NOKIA (2.56) is better than 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.
- A Debt/Equity ratio of 0.16 indicates that NOKIA is not too dependend on debt financing.
- NOKIA has a Debt to Equity ratio of 0.16. This is in the better half 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
- A Current Ratio of 1.48 indicates that NOKIA should not have too much problems paying 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'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.
- The Revenue has been growing slightly by 3.04% in the past 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.
- 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
- With a Price/Earnings ratio of 17.90, NOKIA is valued on the expensive side.
- Compared to the rest of the industry, the Price/Earnings ratio of NOKIA indicates a rather cheap valuation: NOKIA is cheaper than 87.10% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 27.32, NOKIA is valued a bit cheaper.
- A Price/Forward Earnings ratio of 15.96 indicates a correct valuation of NOKIA.
- 80.65% of the companies in the same industry are more expensive than NOKIA, based on the Price/Forward Earnings ratio.
- Compared to an average S&P500 Price/Forward Earnings ratio of 24.30, NOKIA is valued a bit cheaper.
| 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.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of NOKIA is on the same level as its industry peers.
| 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.
- Compared to an average S&P500 Dividend Yield of 1.86, NOKIA pays a bit more dividend than the S&P500 average.
| 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
- 81.90% of the earnings are spent on dividend by NOKIA. 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%.