NOKIA OYJ (1NOKIA.MI) Stock Fundamental Analysis

Europe • Euronext Milan • BIT:1NOKIA • FI0009000681

5.956 EUR
+0.8 (+15.61%)
Last: Feb 9, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

Overall 1NOKIA gets a fundamental rating of 4 out of 10. We evaluated 1NOKIA against 30 industry peers in the Communications Equipment industry. 1NOKIA has an average financial health and profitability rating. 1NOKIA is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • In the past year 1NOKIA was profitable.
  • 1NOKIA had a positive operating cash flow in the past year.
  • Each year in the past 5 years 1NOKIA has been profitable.
  • In the past 5 years 1NOKIA always reported a positive cash flow from operatings.
1NOKIA.MI Yearly Net Income VS EBIT VS OCF VS FCF1NOKIA.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B

1.2 Ratios

  • 1NOKIA has a Return On Assets (1.73%) which is comparable to the rest of the industry.
  • 1NOKIA has a Return On Equity (3.10%) which is comparable to the rest of the industry.
  • 1NOKIA has a Return On Invested Capital of 2.23%. This is comparable to the rest of the industry: 1NOKIA outperforms 59.38% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for 1NOKIA is significantly below the industry average of 11.39%.
Industry RankSector Rank
ROA 1.73%
ROE 3.1%
ROIC 2.23%
ROA(3y)2.22%
ROA(5y)4.12%
ROE(3y)4.17%
ROE(5y)8.36%
ROIC(3y)3.51%
ROIC(5y)4.47%
1NOKIA.MI Yearly ROA, ROE, ROIC1NOKIA.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 -20

1.3 Margins

  • 1NOKIA has a Profit Margin of 3.27%. This is in the better half of the industry: 1NOKIA outperforms 62.50% of its industry peers.
  • In the last couple of years the Profit Margin of 1NOKIA has declined.
  • Looking at the Operating Margin, with a value of 4.08%, 1NOKIA is in the better half of the industry, outperforming 62.50% of the companies in the same industry.
  • In the last couple of years the Operating Margin of 1NOKIA has declined.
  • Looking at the Gross Margin, with a value of 43.54%, 1NOKIA is in line with its industry, outperforming 53.13% of the companies in the same industry.
  • In the last couple of years the Gross Margin of 1NOKIA has grown nicely.
Industry RankSector Rank
OM 4.08%
PM (TTM) 3.27%
GM 43.54%
OM growth 3Y-23.64%
OM growth 5Y-5.02%
PM growth 3Y-42.32%
PM growth 5YN/A
GM growth 3Y1.99%
GM growth 5Y3.03%
1NOKIA.MI Yearly Profit, Operating, Gross Margins1NOKIA.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20 30 40

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • 1NOKIA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for 1NOKIA has been increased compared to 1 year ago.
  • Compared to 5 years ago, 1NOKIA has less shares outstanding
  • Compared to 1 year ago, 1NOKIA has an improved debt to assets ratio.
1NOKIA.MI Yearly Shares Outstanding1NOKIA.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B
1NOKIA.MI Yearly Total Debt VS Total Assets1NOKIA.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

2.2 Solvency

  • 1NOKIA has an Altman-Z score of 2.53. This is not the best score and indicates that 1NOKIA is in the grey zone with still only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.53, 1NOKIA is in line with its industry, outperforming 53.13% of the companies in the same industry.
  • 1NOKIA has a debt to FCF ratio of 3.01. This is a good value and a sign of high solvency as 1NOKIA would need 3.01 years to pay back of all of its debts.
  • 1NOKIA has a Debt to FCF ratio of 3.01. This is in the better half of the industry: 1NOKIA outperforms 62.50% of its industry peers.
  • A Debt/Equity ratio of 0.15 indicates that 1NOKIA is not too dependend on debt financing.
  • With a decent Debt to Equity ratio value of 0.15, 1NOKIA is doing good in the industry, outperforming 68.75% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 3.01
Altman-Z 2.53
ROIC/WACC0.28
WACC7.96%
1NOKIA.MI Yearly LT Debt VS Equity VS FCF1NOKIA.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B 15B 20B

2.3 Liquidity

  • A Current Ratio of 1.58 indicates that 1NOKIA should not have too much problems paying its short term obligations.
  • 1NOKIA has a Current ratio (1.58) which is in line with its industry peers.
  • 1NOKIA has a Quick Ratio of 1.36. This is a normal value and indicates that 1NOKIA is financially healthy and should not expect problems in meeting its short term obligations.
  • With a decent Quick ratio value of 1.36, 1NOKIA is doing good in the industry, outperforming 62.50% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.58
Quick Ratio 1.36
1NOKIA.MI Yearly Current Assets VS Current Liabilites1NOKIA.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • 1NOKIA shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -25.64%.
  • The Earnings Per Share has been growing slightly by 2.21% on average over the past years.
  • The Revenue has been growing slightly by 2.29% in the past year.
  • 1NOKIA shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.86% yearly.
EPS 1Y (TTM)-25.64%
EPS 3Y-12.3%
EPS 5Y2.21%
EPS Q2Q%-11.11%
Revenue 1Y (TTM)2.29%
Revenue growth 3Y-7.23%
Revenue growth 5Y-1.86%
Sales Q2Q%2.37%

3.2 Future

  • Based on estimates for the next years, 1NOKIA will show a small growth in Earnings Per Share. The EPS will grow by 6.64% on average per year.
  • The Revenue is expected to grow by 2.14% on average over the next years.
EPS Next Y14.79%
EPS Next 2Y14.68%
EPS Next 3Y15.03%
EPS Next 5Y6.64%
Revenue Next Year3.98%
Revenue Next 2Y3.57%
Revenue Next 3Y3.57%
Revenue Next 5Y2.14%

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 accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
1NOKIA.MI Yearly Revenue VS Estimates1NOKIA.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B 20B 25B
1NOKIA.MI Yearly EPS VS Estimates1NOKIA.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.1 0.2 0.3 0.4

More info and screens

Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 20.54, 1NOKIA is valued on the expensive side.
  • 1NOKIA's Price/Earnings ratio is rather cheap when compared to the industry. 1NOKIA is cheaper than 84.38% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 28.06. 1NOKIA is valued slightly cheaper when compared to this.
  • Based on the Price/Forward Earnings ratio of 17.89, the valuation of 1NOKIA can be described as rather expensive.
  • Based on the Price/Forward Earnings ratio, 1NOKIA is valued cheaply inside the industry as 81.25% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.86, 1NOKIA is valued a bit cheaper.
Industry RankSector Rank
PE 20.54
Fwd PE 17.89
1NOKIA.MI Price Earnings VS Forward Price Earnings1NOKIA.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • 75.00% of the companies in the same industry are more expensive than 1NOKIA, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, 1NOKIA is valued a bit cheaper than the industry average as 65.63% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 22.55
EV/EBITDA 13.74
1NOKIA.MI Per share data1NOKIA.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • A more expensive valuation may be justified as 1NOKIA's earnings are expected to grow with 15.03% in the coming years.
PEG (NY)1.39
PEG (5Y)9.3
EPS Next 2Y14.68%
EPS Next 3Y15.03%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. Dividend

5.1 Amount

  • 1NOKIA has a Yearly Dividend Yield of 2.41%.
  • Compared to an average industry Dividend Yield of 2.53, 1NOKIA pays a better dividend. On top of this 1NOKIA pays more dividend than 81.25% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.80, 1NOKIA pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.41%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 1NOKIA pays out 116.59% of its income as dividend. This is not a sustainable payout ratio.
DP116.59%
EPS Next 2Y14.68%
EPS Next 3Y15.03%
1NOKIA.MI Yearly Income VS Free CF VS Dividend1NOKIA.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B
1NOKIA.MI Dividend Payout.1NOKIA.MI Dividend Payout, showing the Payout Ratio.1NOKIA.MI Dividend Payout.PayoutRetained Earnings

More info and screens

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NOKIA OYJ

BIT:1NOKIA (2/9/2026, 7:00:00 PM)

5.956

+0.8 (+15.61%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)01-29
Earnings (Next)04-23
Inst Owners34.4%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap33.03B
Revenue(TTM)19.89B
Net Income(TTM)651.00M
Analysts71.11
Price Target5.86 (-1.61%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.41%
Yearly Dividend0.06
Dividend Growth(5Y)N/A
DP116.59%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.86%
Min EPS beat(2)5.01%
Max EPS beat(2)16.71%
EPS beat(4)2
Avg EPS beat(4)-7.56%
Min EPS beat(4)-27.18%
Max EPS beat(4)16.71%
EPS beat(8)5
Avg EPS beat(8)0.08%
EPS beat(12)5
Avg EPS beat(12)-4.59%
EPS beat(16)9
Avg EPS beat(16)-1.48%
Revenue beat(2)1
Avg Revenue beat(2)-0.94%
Min Revenue beat(2)-2.67%
Max Revenue beat(2)0.79%
Revenue beat(4)1
Avg Revenue beat(4)-3.35%
Min Revenue beat(4)-7.83%
Max Revenue beat(4)0.79%
Revenue beat(8)2
Avg Revenue beat(8)-5.29%
Revenue beat(12)2
Avg Revenue beat(12)-6.27%
Revenue beat(16)4
Avg Revenue beat(16)-4.57%
PT rev (1m)7.32%
PT rev (3m)17.72%
EPS NQ rev (1m)-25.17%
EPS NQ rev (3m)-21.96%
EPS NY rev (1m)-4.27%
EPS NY rev (3m)-4.63%
Revenue NQ rev (1m)-4.37%
Revenue NQ rev (3m)-3.44%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.57%
Valuation
Industry RankSector Rank
PE 20.54
Fwd PE 17.89
P/S 1.66
P/FCF 22.55
P/OCF 15.95
P/B 1.58
P/tB 2.43
EV/EBITDA 13.74
EPS(TTM)0.29
EY4.87%
EPS(NY)0.33
Fwd EY5.59%
FCF(TTM)0.26
FCFY4.44%
OCF(TTM)0.37
OCFY6.27%
SpS3.59
BVpS3.78
TBVpS2.45
PEG (NY)1.39
PEG (5Y)9.3
Graham Number4.97
Profitability
Industry RankSector Rank
ROA 1.73%
ROE 3.1%
ROCE 2.94%
ROIC 2.23%
ROICexc 2.95%
ROICexgc 4.58%
OM 4.08%
PM (TTM) 3.27%
GM 43.54%
FCFM 7.37%
ROA(3y)2.22%
ROA(5y)4.12%
ROE(3y)4.17%
ROE(5y)8.36%
ROIC(3y)3.51%
ROIC(5y)4.47%
ROICexc(3y)4.95%
ROICexc(5y)6.48%
ROICexgc(3y)7.49%
ROICexgc(5y)9.95%
ROCE(3y)4.63%
ROCE(5y)5.91%
ROICexgc growth 3Y-28.05%
ROICexgc growth 5Y-13.73%
ROICexc growth 3Y-28.96%
ROICexc growth 5Y-11.41%
OM growth 3Y-23.64%
OM growth 5Y-5.02%
PM growth 3Y-42.32%
PM growth 5YN/A
GM growth 3Y1.99%
GM growth 5Y3.03%
F-Score5
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 3.01
Debt/EBITDA 1.62
Cap/Depr 54.16%
Cap/Sales 3.05%
Interest Coverage 3.83
Cash Conversion 107.25%
Profit Quality 225.04%
Current Ratio 1.58
Quick Ratio 1.36
Altman-Z 2.53
F-Score5
WACC7.96%
ROIC/WACC0.28
Cap/Depr(3y)53.56%
Cap/Depr(5y)52.91%
Cap/Sales(3y)2.86%
Cap/Sales(5y)2.7%
Profit Quality(3y)161.1%
Profit Quality(5y)126.22%
High Growth Momentum
Growth
EPS 1Y (TTM)-25.64%
EPS 3Y-12.3%
EPS 5Y2.21%
EPS Q2Q%-11.11%
EPS Next Y14.79%
EPS Next 2Y14.68%
EPS Next 3Y15.03%
EPS Next 5Y6.64%
Revenue 1Y (TTM)2.29%
Revenue growth 3Y-7.23%
Revenue growth 5Y-1.86%
Sales Q2Q%2.37%
Revenue Next Year3.98%
Revenue Next 2Y3.57%
Revenue Next 3Y3.57%
Revenue Next 5Y2.14%
EBIT growth 1Y-59.94%
EBIT growth 3Y-29.16%
EBIT growth 5Y-6.79%
EBIT Next Year69.64%
EBIT Next 3Y31.38%
EBIT Next 5Y15.64%
FCF growth 1Y-27.51%
FCF growth 3Y18.83%
FCF growth 5Y2.74%
OCF growth 1Y-16.93%
OCF growth 3Y12%
OCF growth 5Y3.32%

NOKIA OYJ / 1NOKIA.MI FAQ

What is the ChartMill fundamental rating of NOKIA OYJ (1NOKIA.MI) stock?

ChartMill assigns a fundamental rating of 5 / 10 to 1NOKIA.MI.


What is the valuation status for 1NOKIA stock?

ChartMill assigns a valuation rating of 5 / 10 to NOKIA OYJ (1NOKIA.MI). This can be considered as Fairly Valued.


What is the profitability of 1NOKIA stock?

NOKIA OYJ (1NOKIA.MI) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for 1NOKIA stock?

The Price/Earnings (PE) ratio for NOKIA OYJ (1NOKIA.MI) is 20.54 and the Price/Book (PB) ratio is 1.58.


Is the dividend of NOKIA OYJ sustainable?

The dividend rating of NOKIA OYJ (1NOKIA.MI) is 4 / 10 and the dividend payout ratio is 116.59%.