(NOKIA) Nokia - HE
Sector: Technology | Industry: Communication Equipment | Exchange: HE (Finland) | Market Cap: 67.214m EUR | Total Return: 174.6% in 12m
Avg Turnover: 263M
EPS Trend: -65.6%
Qual. Beats: 0
Rev. Trend: -76.4%
Qual. Beats: 0
Warnings
P/E ratio 86.0
Tailwinds
Rs Leader, Idiosyncratic Leader, Tailwind
Nokia Oyj is a Finland-based telecommunications provider operating through four primary segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company designs and deploys end-to-end solutions including 5G radio access networks, fiber-to-the-home equipment, and IP routing systems for service providers and industrial enterprises.
The communications equipment sector is characterized by high research and development requirements and long-term infrastructure cycles driven by global data demand. Nokia’s business model includes a high-margin licensing arm that monetizes its extensive patent portfolio and brand equity across the mobile and consumer electronics industries.
Investors may find more detailed fundamental analysis on ValueRay to support their investment thesis. Nokia serves diverse end-markets beyond traditional telecom, including defense, energy, and transportation, through private wireless and industrial edge computing solutions.
- North American 5G spending recovery drives Mobile Networks segment revenue
- Optical and IP network demand stabilizes Network Infrastructure margins
- Patent licensing renewals and litigation settlements boost Nokia Technologies cash flow
- Cost reduction initiatives and workforce downsizing support operating margin expansion
| Net Income: 1.03b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -0.87 > 1.0 |
| NWC/Revenue: 27.16% < 20% (prev 22.60%; Δ 4.56% < -1%) |
| CFO/TA 0.05 > 3% & CFO 1.96b > Net Income 1.03b |
| Net Debt (-1.85b) to EBITDA (2.07b): -0.89 < 3 |
| Current Ratio: 1.57 > 1.5 & < 3 |
| Outstanding Shares: last quarter (5.72b) vs 12m ago 6.38% < -2% |
| Gross Margin: 44.23% > 18% (prev 45.52%; Δ -1.29% > 0.5%) |
| Asset Turnover: 52.26% > 50% (prev 48.82%; Δ 3.44% > 0%) |
| Interest Coverage Ratio: 4.60 > 6 (EBIT TTM 1.01b / Interest Expense TTM 219.0m) |
| A: 0.15 (Total Current Assets 15.0b - Total Current Liabilities 9.58b) / Total Assets 37.3b |
| B: 0.05 (Retained Earnings 1.77b / Total Assets 37.3b) |
| C: 0.03 (EBIT TTM 1.01b / Avg Total Assets 38.3b) |
| D: 1.32 (Book Value of Equity 21.2b / Total Liabilities 16.0b) |
| Altman-Z'' = 2.68 = A |
| DSRI: 0.96 (Receivables 6.51b/6.53b, Revenue 20.0b/19.2b) |
| GMI: 1.03 (GM 45.52% / 44.23%) |
| AQI: 1.01 (AQ_t 0.53 / AQ_t-1 0.52) |
| SGI: 1.04 (Revenue 20.0b / 19.2b) |
| TATA: -0.03 (NI 1.03b - CFO 1.96b) / TA 37.3b) |
| Beneish M = -3.00 (Cap -4..+1) = AA |
As of June 19, 2026, the stock is trading at EUR 11.79 with a total of 42,403,091 shares traded.
Over the past week, the price has changed by +2.56%,
over one month by +2.64%,
over three months by +62.03% and
over the past year by +174.57%.
Nokia has no consensus analysts rating.
P/E Trailing = 86.0
P/E Forward = 36.63
P/S = 3.3614
P/B = 3.1904
P/EG = 1.3456
Revenue TTM = 20.0b EUR
EBIT TTM = 1.01b EUR
EBITDA TTM = 2.07b EUR
Long Term Debt = 2.34b EUR (from longTermDebt, last quarter)
Short Term Debt = 235.0m EUR (from shortTermDebt, last quarter)
Debt = 4.27b EUR (from shortLongTermDebtTotal, last quarter) + Leases 947.0m
Net Debt = -1.85b EUR (calculated: Debt 4.27b - CCE 6.12b)
Enterprise Value = 65.4b EUR (67.2b + Debt 4.27b - CCE 6.12b)
Interest Coverage Ratio = 4.60 (Ebit TTM 1.01b / Interest Expense TTM 219.0m)
EV/FCF = 47.61x (Enterprise Value 65.4b / FCF TTM 1.37b)
FCF Yield = 2.10% (FCF TTM 1.37b / Enterprise Value 65.4b)
FCF Margin = 6.86% (FCF TTM 1.37b / Revenue TTM 20.0b)
Net Margin = 5.15% (Net Income TTM 1.03b / Revenue TTM 20.0b)
Gross Margin = 44.23% ((Revenue TTM 20.0b - Cost of Revenue TTM 11.2b) / Revenue TTM)
Gross Margin QoQ = 44.21% (prev 44.96%)
Tobins Q-Ratio = 1.75 (Enterprise Value 65.4b / Total Assets 37.3b)
Interest Expense / Debt = 5.13% (Interest Expense 219.0m / Debt 4.27b)
Taxrate = 25.63% (354.0m / 1.38b)
NOPAT = 749.6m (EBIT 1.01b * (1 - 25.63%))
Current Ratio = 1.57 (Total Current Assets 15.0b / Total Current Liabilities 9.58b)
Debt / Equity = 0.20 (Debt 4.27b / totalStockholderEquity, last quarter 21.2b)
Debt / EBITDA = -0.89 (Net Debt -1.85b / EBITDA 2.07b)
Debt / FCF = -1.35 (Net Debt -1.85b / FCF TTM 1.37b)
Total Stockholder Equity = 20.4b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.69% (Net Income 1.03b / Total Assets 37.3b)
RoE = 5.06% (Net Income TTM 1.03b / Total Stockholder Equity 20.4b)
RoCE = 4.44% (EBIT 1.01b / Capital Employed (Equity 20.4b + L.T.Debt 2.34b))
RoIC = 2.78% (NOPAT 749.6m / Invested Capital 26.9b)
WACC = 9.19% (E(67.2b)/V(71.5b) * Re(9.53%) + D(4.27b)/V(71.5b) * Rd(5.13%) * (1-Tc(0.26)))
Discount Rate = 9.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 6.67 | Cagr: 1.58%
[DCF] Terminal Value 70.02% ; FCFF base≈1.54b ; Y1≈1.35b ; Y5≈1.09b
[DCF] Fair Price = 3.09 (EV 15.4b - Net Debt -1.85b = Equity 17.2b / Shares 5.58b; r=9.19% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -65.57 | EPS CAGR: -8.79% | SUE: 0.43 | # QB: 0
Revenue Correlation: -76.39 | Revenue CAGR: -7.57% | SUE: -0.30 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.06 | Chg30d=-1.72% | Revisions=+0% | Analysts=10
EPS next Quarter (2026-09-30): EPS=0.08 | Chg30d=-2.56% | Revisions=-14% | Analysts=10
EPS current Year (2026-12-31): EPS=0.34 | Chg30d=+0.15% | Revisions=+43% | GrowthEPS=+15.9% | GrowthRev=+4.7%
EPS next Year (2027-12-31): EPS=0.39 | Chg30d=+0.56% | Revisions=+50% | GrowthEPS=+17.1% | GrowthRev=+5.6%
[Analyst] Revisions Ratio: +50%