NOKIA OYJ (NOA3.DE) Fundamental Analysis & Valuation
FRA:NOA3 • FI0009000681
Current stock price
8.96 EUR
+0.44 (+5.16%)
Last:
This NOA3.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. NOA3.DE Profitability Analysis
1.1 Basic Checks
- In the past year NOA3 was profitable.
- In the past year NOA3 had a positive cash flow from operations.
- In the past 5 years NOA3 has always been profitable.
- In the past 5 years NOA3 always reported a positive cash flow from operatings.
1.2 Ratios
- NOA3 has a Return On Assets (1.73%) which is in line with its industry peers.
- NOA3 has a Return On Equity (3.10%) which is in line with its industry peers.
- The Return On Invested Capital of NOA3 (2.23%) is comparable to the rest of the industry.
- Measured over the past 3 years, the Average Return On Invested Capital for NOA3 is significantly below the industry average of 11.35%.
| Industry Rank | Sector 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)3.38%
ROIC(5y)4.4%
1.3 Margins
- NOA3's Profit Margin of 3.27% is in line compared to the rest of the industry. NOA3 outperforms 52.94% of its industry peers.
- NOA3's Profit Margin has declined in the last couple of years.
- NOA3 has a Operating Margin (4.08%) which is in line with its industry peers.
- In the last couple of years the Operating Margin of NOA3 has declined.
- NOA3 has a Gross Margin (43.54%) which is in line with its industry peers.
- In the last couple of years the Gross Margin of NOA3 has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 4.08% | ||
| PM (TTM) | 3.27% | ||
| GM | 43.54% |
OM growth 3Y-26.73%
OM growth 5Y-7.34%
PM growth 3Y-42.32%
PM growth 5YN/A
GM growth 3Y1.99%
GM growth 5Y3.03%
2. NOA3.DE Health Analysis
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NOA3 is destroying value.
- The number of shares outstanding for NOA3 has been increased compared to 1 year ago.
- NOA3 has less shares outstanding than it did 5 years ago.
- The debt/assets ratio for NOA3 has been reduced compared to a year ago.
2.2 Solvency
- NOA3 has an Altman-Z score of 3.29. This indicates that NOA3 is financially healthy and has little risk of bankruptcy at the moment.
- With a Altman-Z score value of 3.29, NOA3 perfoms like the industry average, outperforming 58.82% of the companies in the same industry.
- NOA3 has a debt to FCF ratio of 3.01. This is a good value and a sign of high solvency as NOA3 would need 3.01 years to pay back of all of its debts.
- The Debt to FCF ratio of NOA3 (3.01) is comparable to the rest of the industry.
- A Debt/Equity ratio of 0.15 indicates that NOA3 is not too dependend on debt financing.
- NOA3 has a Debt to Equity ratio of 0.15. This is in the better half of the industry: NOA3 outperforms 61.76% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.15 | ||
| Debt/FCF | 3.01 | ||
| Altman-Z | 3.29 |
ROIC/WACC0.28
WACC8%
2.3 Liquidity
- A Current Ratio of 1.58 indicates that NOA3 should not have too much problems paying its short term obligations.
- NOA3 has a Current ratio (1.58) which is comparable to the rest of the industry.
- A Quick Ratio of 1.36 indicates that NOA3 should not have too much problems paying its short term obligations.
- NOA3 has a Quick ratio (1.36) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.58 | ||
| Quick Ratio | 1.36 |
3. NOA3.DE Growth Analysis
3.1 Past
- The earnings per share for NOA3 have decreased strongly by -25.64% in the last year.
- Measured over the past 5 years, NOA3 shows a small growth in Earnings Per Share. The EPS has been growing by 2.21% on average per year.
- Looking at the last year, NOA3 shows a small growth in Revenue. The Revenue has grown by 2.29% in the last year.
- Measured over the past years, NOA3 shows a decrease in Revenue. The Revenue has been decreasing by -1.86% on average per year.
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
- The Earnings Per Share is expected to grow by 8.57% on average over the next years. This is quite good.
- The Revenue is expected to grow by 2.99% on average over the next years.
EPS Next Y12.27%
EPS Next 2Y14.17%
EPS Next 3Y13.89%
EPS Next 5Y8.57%
Revenue Next Year3.17%
Revenue Next 2Y3.64%
Revenue Next 3Y4.07%
Revenue Next 5Y2.99%
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.
- 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. NOA3.DE Valuation Analysis
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 30.90, which means the current valuation is very expensive for NOA3.
- Based on the Price/Earnings ratio, NOA3 is valued a bit cheaper than 64.71% of the companies in the same industry.
- When comparing the Price/Earnings ratio of NOA3 to the average of the S&P500 Index (27.47), we can say NOA3 is valued inline with the index average.
- NOA3 is valuated quite expensively with a Price/Forward Earnings ratio of 27.52.
- Based on the Price/Forward Earnings ratio, NOA3 is valued a bit cheaper than the industry average as 67.65% of the companies are valued more expensively.
- NOA3's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 22.62.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.9 | ||
| Fwd PE | 27.52 |
4.2 Price Multiples
- The rest of the industry has a similar Enterprise Value to EBITDA ratio as NOA3.
- 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 | 35.12 | ||
| EV/EBITDA | 24.77 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- A more expensive valuation may be justified as NOA3's earnings are expected to grow with 13.89% in the coming years.
PEG (NY)2.52
PEG (5Y)13.99
EPS Next 2Y14.17%
EPS Next 3Y13.89%
5. NOA3.DE Dividend Analysis
5.1 Amount
- NOA3 has a Yearly Dividend Yield of 1.63%.
- NOA3's Dividend Yield is a higher than the industry average which is at 2.24.
- NOA3's Dividend Yield is comparable with the S&P500 average which is at 1.81.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.63% |
5.2 History
Dividend Growth(5Y)N/A
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
- NOA3 pays out 116.77% of its income as dividend. This is not a sustainable payout ratio.
DP116.77%
EPS Next 2Y14.17%
EPS Next 3Y13.89%
NOA3.DE Fundamentals: All Metrics, Ratios and Statistics
FRA:NOA3 (4/23/2026, 7:00:00 PM)
8.96
+0.44 (+5.16%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)01-29 2026-01-29/bmo
Earnings (Next)04-23 2026-04-23/bmo
Inst Owners38.58%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap51.45B
Revenue(TTM)19.89B
Net Income(TTM)650.00M
Analysts68.65
Price Target6.66 (-25.67%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.63% |
Yearly Dividend0.06
Dividend Growth(5Y)N/A
DP116.77%
Div Incr Years3
Div Non Decr Years3
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)13.89%
PT rev (3m)15.05%
EPS NQ rev (1m)8.2%
EPS NQ rev (3m)-10.31%
EPS NY rev (1m)1.29%
EPS NY rev (3m)-2.2%
Revenue NQ rev (1m)1.56%
Revenue NQ rev (3m)-4.18%
Revenue NY rev (1m)0.55%
Revenue NY rev (3m)-0.65%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.9 | ||
| Fwd PE | 27.52 | ||
| P/S | 2.59 | ||
| P/FCF | 35.12 | ||
| P/OCF | 24.84 | ||
| P/B | 2.45 | ||
| P/tB | 3.79 | ||
| EV/EBITDA | 24.77 |
EPS(TTM)0.29
EY3.24%
EPS(NY)0.33
Fwd EY3.63%
FCF(TTM)0.26
FCFY2.85%
OCF(TTM)0.36
OCFY4.03%
SpS3.46
BVpS3.65
TBVpS2.36
PEG (NY)2.52
PEG (5Y)13.99
Graham Number4.8811 (-45.52%)
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.73% | ||
| ROE | 3.1% | ||
| ROCE | 2.94% | ||
| ROIC | 2.23% | ||
| ROICexc | 2.95% | ||
| ROICexgc | 4.57% | ||
| 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)3.38%
ROIC(5y)4.4%
ROICexc(3y)4.79%
ROICexc(5y)6.38%
ROICexgc(3y)7.24%
ROICexgc(5y)9.8%
ROCE(3y)4.47%
ROCE(5y)5.81%
ROICexgc growth 3Y-30.96%
ROICexgc growth 5Y-15.83%
ROICexc growth 3Y-31.84%
ROICexc growth 5Y-13.58%
OM growth 3Y-26.73%
OM growth 5Y-7.34%
PM growth 3Y-42.32%
PM growth 5YN/A
GM growth 3Y1.99%
GM growth 5Y3.03%
F-Score5
Asset Turnover0.53
Health
| Industry Rank | Sector 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 | 107.31% | ||
| Profit Quality | 225.39% | ||
| Current Ratio | 1.58 | ||
| Quick Ratio | 1.36 | ||
| Altman-Z | 3.29 |
F-Score5
WACC8%
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 Y12.27%
EPS Next 2Y14.17%
EPS Next 3Y13.89%
EPS Next 5Y8.57%
Revenue 1Y (TTM)2.29%
Revenue growth 3Y-7.23%
Revenue growth 5Y-1.86%
Sales Q2Q%2.37%
Revenue Next Year3.17%
Revenue Next 2Y3.64%
Revenue Next 3Y4.07%
Revenue Next 5Y2.99%
EBIT growth 1Y-59.99%
EBIT growth 3Y-32.03%
EBIT growth 5Y-9.07%
EBIT Next Year51.48%
EBIT Next 3Y24.21%
EBIT Next 5Y15.29%
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 / NOA3.DE Fundamental Analysis FAQ
What is the fundamental rating for NOA3 stock?
ChartMill assigns a fundamental rating of 4 / 10 to NOA3.DE.
What is the valuation status of NOKIA OYJ (NOA3.DE) stock?
ChartMill assigns a valuation rating of 2 / 10 to NOKIA OYJ (NOA3.DE). This can be considered as Overvalued.
What is the profitability of NOA3 stock?
NOKIA OYJ (NOA3.DE) has a profitability rating of 4 / 10.
Can you provide the financial health for NOA3 stock?
The financial health rating of NOKIA OYJ (NOA3.DE) is 5 / 10.
How sustainable is the dividend of NOKIA OYJ (NOA3.DE) stock?
The dividend rating of NOKIA OYJ (NOA3.DE) is 2 / 10 and the dividend payout ratio is 116.77%.