NOKIA OYJ (NOA3.DE) Stock Fundamental Analysis
Europe - FRA:NOA3 - FI0009000681 - Common Stock
4.883 EUR
0 (-0.02%)
Overall NOA3 gets a fundamental rating of 4 out of 10. We evaluated NOA3 against 29 industry peers in the Communications Equipment industry. NOA3 has only an average score on both its financial health and profitability. NOA3 has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
NOA3 had positive earnings in the past year.
In the past year NOA3 had a positive cash flow from operations.
Of the past 5 years NOA3 4 years were profitable.
NOA3 had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
NOA3 has a Return On Assets (2.83%) which is in line with its industry peers.
The Return On Equity of NOA3 (5.17%) is comparable to the rest of the industry.
NOA3 has a Return On Invested Capital (2.89%) which is comparable to the rest of the industry.
NOA3 had an Average Return On Invested Capital over the past 3 years of 4.03%. This 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
The Profit Margin of NOA3 (5.30%) is comparable to the rest of the industry.
In the last couple of years the Profit Margin of NOA3 has grown nicely.
NOA3 has a Operating Margin (6.21%) which is in line with its industry peers.
In the last couple of years the Operating Margin of NOA3 has grown nicely.
NOA3 has a worse Gross Margin (44.23%) than 62.07% of its industry peers.
NOA3's Gross Margin has improved in the last couple of years.
| 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NOA3 is destroying value.
Compared to 1 year ago, NOA3 has less shares outstanding
Compared to 5 years ago, NOA3 has less shares outstanding
Compared to 1 year ago, NOA3 has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 2.39 indicates that NOA3 is not a great score, but indicates only limited risk for bankruptcy at the moment.
NOA3's Altman-Z score of 2.39 is fine compared to the rest of the industry. NOA3 outperforms 65.52% of its industry peers.
The Debt to FCF ratio of NOA3 is 2.77, which is a good value as it means it would take NOA3, 2.77 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of NOA3 (2.77) is comparable to the rest of the industry.
NOA3 has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of NOA3 (0.16) is better than 68.97% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 2.77 | ||
| Altman-Z | 2.39 |
ROIC/WACC0.41
WACC7.02%
2.3 Liquidity
NOA3 has a Current Ratio of 1.46. This is a normal value and indicates that NOA3 is financially healthy and should not expect problems in meeting its short term obligations.
NOA3 has a Current ratio (1.46) which is comparable to the rest of the industry.
A Quick Ratio of 1.21 indicates that NOA3 should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.21, NOA3 perfoms like the industry average, outperforming 44.83% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.46 | ||
| Quick Ratio | 1.21 |
3. Growth
3.1 Past
NOA3 shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.33%.
NOA3 shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.14% yearly.
NOA3 shows a decrease in Revenue. In the last year, the revenue decreased by -2.91%.
Measured over the past years, NOA3 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
Based on estimates for the next years, NOA3 will show a decrease in Earnings Per Share. The EPS will decrease by -1.04% on average per year.
NOA3 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.53% yearly.
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.
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 15.75, NOA3 is valued correctly.
Compared to the rest of the industry, the Price/Earnings ratio of NOA3 indicates a somewhat cheap valuation: NOA3 is cheaper than 79.31% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.42, NOA3 is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 14.31, the valuation of NOA3 can be described as correct.
Based on the Price/Forward Earnings ratio, NOA3 is valued a bit cheaper than 75.86% of the companies in the same industry.
NOA3 is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.94, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.75 | ||
| Fwd PE | 14.31 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NOA3 is valued a bit cheaper than 62.07% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NOA3 is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.74 | ||
| EV/EBITDA | 10.31 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)1.41
EPS Next 2Y-6.46%
EPS Next 3Y-1.18%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.86%, NOA3 has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 5.20, NOA3 pays a better dividend. On top of this NOA3 pays more dividend than 82.76% of the companies listed in the same industry.
NOA3's Dividend Yield is a higher than the S&P500 average which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.86% |
5.2 History
The dividend of NOA3 has a limited annual growth rate of 5.44%.
Dividend Growth(5Y)5.44%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
NOA3 pays out 69.51% of its income as dividend. This is not a sustainable payout ratio.
NOA3'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%
FRA:NOA3 (10/17/2025, 7:00:00 PM)
4.883
0 (-0.02%)
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 Cap26.27B
Analysts71.67
Price Target4.61 (-5.59%)
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)-0.2%
PT rev (3m)-6.78%
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 | 15.75 | ||
| Fwd PE | 14.31 | ||
| P/S | 1.36 | ||
| P/FCF | 17.74 | ||
| P/OCF | 12.9 | ||
| P/B | 1.33 | ||
| P/tB | 2.17 | ||
| EV/EBITDA | 10.31 |
EPS(TTM)0.31
EY6.35%
EPS(NY)0.34
Fwd EY6.99%
FCF(TTM)0.28
FCFY5.64%
OCF(TTM)0.38
OCFY7.75%
SpS3.58
BVpS3.67
TBVpS2.26
PEG (NY)N/A
PEG (5Y)1.41
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%
ROICexcg growth 3Y-10.42%
ROICexcg 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 | 2.39 |
F-Score8
WACC7.02%
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%