NOKIA OYJ (NOKIA.PA) Stock Fundamental Analysis
Europe - EPA:NOKIA - FI0009000681 - Common Stock
5.222 EUR
-0.01 (-0.27%)
Overall NOKIA gets a fundamental rating of 4 out of 10. We evaluated NOKIA against 29 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 has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year NOKIA was profitable.
In the past year NOKIA had a positive cash flow from operations.
Of the past 5 years NOKIA 4 years were profitable.
NOKIA had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 2.83%, NOKIA is in line with its industry, outperforming 58.62% of the companies in the same industry.
NOKIA has a Return On Equity of 5.17%. This is comparable to the rest of the industry: NOKIA outperforms 58.62% of its industry peers.
With a Return On Invested Capital value of 2.89%, NOKIA perfoms like the industry average, outperforming 51.72% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for NOKIA is significantly below the industry average of 12.11%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.83% | ||
| ROE | 5.17% | ||
| ROIC | 2.89% |
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
NOKIA's Profit Margin of 5.30% is fine compared to the rest of the industry. NOKIA outperforms 62.07% of its industry peers.
NOKIA's Profit Margin has improved in the last couple of years.
The Operating Margin of NOKIA (6.21%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of NOKIA has grown nicely.
NOKIA's Gross Margin of 44.23% is in line compared to the rest of the industry. NOKIA outperforms 41.38% of its industry peers.
In the last couple of years the Gross Margin of NOKIA has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.21% | ||
| PM (TTM) | 5.3% | ||
| GM | 44.23% |
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
NOKIA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, NOKIA has less shares outstanding
Compared to 5 years ago, NOKIA has less shares outstanding
NOKIA has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 2.46 indicates that NOKIA is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.46, NOKIA is in the better half of the industry, outperforming 62.07% of the companies in the same industry.
NOKIA has a debt to FCF ratio of 2.77. This is a good value and a sign of high solvency as NOKIA would need 2.77 years to pay back of all of its debts.
With a Debt to FCF ratio value of 2.77, NOKIA perfoms like the industry average, outperforming 58.62% of the companies in the same industry.
NOKIA has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
With a decent Debt to Equity ratio value of 0.16, NOKIA is doing good in the industry, outperforming 72.41% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 2.77 | ||
| Altman-Z | 2.46 |
ROIC/WACC0.41
WACC7.06%
2.3 Liquidity
NOKIA has a Current Ratio of 1.46. 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 1.46, NOKIA perfoms like the industry average, outperforming 44.83% of the companies in the same industry.
NOKIA has a Quick Ratio of 1.21. This is a normal value and indicates that NOKIA is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.21, NOKIA is in line with its industry, outperforming 48.28% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.46 | ||
| Quick Ratio | 1.21 |
3. Growth
3.1 Past
NOKIA shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.33%.
NOKIA shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.14% yearly.
The Revenue has decreased by -2.91% 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)3.33%
EPS 3Y1.77%
EPS 5Y11.14%
EPS Q2Q%-33.33%
Revenue 1Y (TTM)-2.91%
Revenue growth 3Y-4.69%
Revenue growth 5Y-3.79%
Sales Q2Q%1.79%
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.
Based on estimates for the next years, NOKIA will show a small growth in Revenue. The Revenue will grow by 2.53% on average per year.
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.
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
NOKIA is valuated correctly with a Price/Earnings ratio of 16.85.
Compared to the rest of the industry, the Price/Earnings ratio of NOKIA indicates a rather cheap valuation: NOKIA is cheaper than 82.76% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of NOKIA to the average of the S&P500 Index (26.83), we can say NOKIA is valued slightly cheaper.
Based on the Price/Forward Earnings ratio of 15.30, the valuation of NOKIA can be described as correct.
Based on the Price/Forward Earnings ratio, NOKIA is valued a bit cheaper than the industry average as 72.41% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 22.82. NOKIA is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.85 | ||
| Fwd PE | 15.3 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NOKIA indicates a somewhat cheap valuation: NOKIA is cheaper than 65.52% of the companies listed 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 | 18.97 | ||
| EV/EBITDA | 11.17 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)1.51
EPS Next 2Y-6.46%
EPS Next 3Y-1.18%
5. Dividend
5.1 Amount
NOKIA has a Yearly Dividend Yield of 2.86%. Purely for dividend investing, there may be better candidates out there.
NOKIA's Dividend Yield is a higher than the industry average which is at 5.20.
Compared to an average S&P500 Dividend Yield of 2.34, NOKIA pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.86% |
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
69.51% of the earnings are spent on dividend by NOKIA. This is not a sustainable payout ratio.
NOKIA's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP69.51%
EPS Next 2Y-6.46%
EPS Next 3Y-1.18%
EPA:NOKIA (10/24/2025, 3:10:12 PM)
5.222
-0.01 (-0.27%)
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 Cap28.09B
Revenue(TTM)19.25B
Net Income(TTM)1.02B
Analysts71.67
Price Target4.59 (-12.1%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.86% |
Yearly Dividend0.13
Dividend Growth(5Y)5.44%
DP69.51%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-25.98%
Min EPS beat(2)-27.18%
Max EPS beat(2)-24.77%
EPS beat(4)1
Avg EPS beat(4)-9.74%
Min EPS beat(4)-27.18%
Max EPS beat(4)30.42%
EPS beat(8)3
Avg EPS beat(8)-6.28%
EPS beat(12)5
Avg EPS beat(12)-5%
EPS beat(16)9
Avg EPS beat(16)-1.1%
Revenue beat(2)0
Avg Revenue beat(2)-5.77%
Min Revenue beat(2)-7.83%
Max Revenue beat(2)-3.71%
Revenue beat(4)1
Avg Revenue beat(4)-5.52%
Min Revenue beat(4)-11.71%
Max Revenue beat(4)1.17%
Revenue beat(8)1
Avg Revenue beat(8)-8.3%
Revenue beat(12)2
Avg Revenue beat(12)-5.98%
Revenue beat(16)3
Avg Revenue beat(16)-4.86%
PT rev (1m)-0.71%
PT rev (3m)-3.29%
EPS NQ rev (1m)-6.95%
EPS NQ rev (3m)-23.72%
EPS NY rev (1m)-2.09%
EPS NY rev (3m)-15.71%
Revenue NQ rev (1m)-0.64%
Revenue NQ rev (3m)-4.16%
Revenue NY rev (1m)-0.17%
Revenue NY rev (3m)-2.97%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.85 | ||
| Fwd PE | 15.3 | ||
| P/S | 1.46 | ||
| P/FCF | 18.97 | ||
| P/OCF | 13.8 | ||
| P/B | 1.42 | ||
| P/tB | 2.32 | ||
| EV/EBITDA | 11.17 |
EPS(TTM)0.31
EY5.94%
EPS(NY)0.34
Fwd EY6.54%
FCF(TTM)0.28
FCFY5.27%
OCF(TTM)0.38
OCFY7.25%
SpS3.58
BVpS3.67
TBVpS2.26
PEG (NY)N/A
PEG (5Y)1.51
Graham Number5.06
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.83% | ||
| ROE | 5.17% | ||
| ROCE | 4.56% | ||
| ROIC | 2.89% | ||
| ROICexc | 3.76% | ||
| ROICexgc | 6.03% | ||
| OM | 6.21% | ||
| PM (TTM) | 5.3% | ||
| GM | 44.23% | ||
| FCFM | 7.7% |
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-Score8
Asset Turnover0.53
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 2.77 | ||
| Debt/EBITDA | 1.41 | ||
| Cap/Depr | 53.68% | ||
| Cap/Sales | 2.88% | ||
| Interest Coverage | 4.88 | ||
| Cash Conversion | 91.3% | ||
| Profit Quality | 145.2% | ||
| Current Ratio | 1.46 | ||
| Quick Ratio | 1.21 | ||
| Altman-Z | 2.46 |
F-Score8
WACC7.06%
ROIC/WACC0.41
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)3.33%
EPS 3Y1.77%
EPS 5Y11.14%
EPS Q2Q%-33.33%
EPS Next Y-30.06%
EPS Next 2Y-6.46%
EPS Next 3Y-1.18%
EPS Next 5Y-1.04%
Revenue 1Y (TTM)-2.91%
Revenue growth 3Y-4.69%
Revenue growth 5Y-3.79%
Sales Q2Q%1.79%
Revenue Next Year3.32%
Revenue Next 2Y3.45%
Revenue Next 3Y3.06%
Revenue Next 5Y2.53%
EBIT growth 1Y-26.17%
EBIT growth 3Y-7.82%
EBIT growth 5Y9.88%
EBIT Next Year10.01%
EBIT Next 3Y12.49%
EBIT Next 5Y8.23%
FCF growth 1Y3797.37%
FCF growth 3Y-0.72%
FCF growth 5YN/A
OCF growth 1Y187.57%
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 4 / 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 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.