NOKIA OYJ (NOA3.DE) Stock Fundamental Analysis
Europe - FRA:NOA3 - FI0009000681 - Common Stock
4.013 EUR
-0.01 (-0.22%)
Overall NOA3 gets a fundamental rating of 5 out of 10. We evaluated NOA3 against 27 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.
NOA3 had a positive operating cash flow in the past year.
NOA3 had positive earnings in 4 of the past 5 years.
NOA3 had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
NOA3's Return On Assets of 2.83% is fine compared to the rest of the industry. NOA3 outperforms 62.96% of its industry peers.
The Return On Equity of NOA3 (5.17%) is better than 62.96% of its industry peers.
The Return On Invested Capital of NOA3 (2.89%) 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 11.62%.
| 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
With a decent Profit Margin value of 5.30%, NOA3 is doing good in the industry, outperforming 66.67% of the companies in the same industry.
NOA3's Profit Margin has improved in the last couple of years.
With a decent Operating Margin value of 6.21%, NOA3 is doing good in the industry, outperforming 62.96% of the companies in the same industry.
In the last couple of years the Operating Margin of NOA3 has grown nicely.
NOA3 has a Gross Margin of 44.23%. This is comparable to the rest of the industry: NOA3 outperforms 48.15% of its industry peers.
In the last couple of years the Gross Margin of NOA3 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
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 reduced 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 2.22. This is not the best score and indicates that NOA3 is in the grey zone with still only limited risk for bankruptcy at the moment.
NOA3 has a Altman-Z score (2.22) which is in line with its industry peers.
NOA3 has a debt to FCF ratio of 2.77. This is a good value and a sign of high solvency as NOA3 would need 2.77 years to pay back of all of its debts.
The Debt to FCF ratio of NOA3 (2.77) is better than 62.96% of its industry peers.
NOA3 has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
NOA3 has a Debt to Equity ratio of 0.16. This is in the better half of the industry: NOA3 outperforms 70.37% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 2.77 | ||
| Altman-Z | 2.22 |
ROIC/WACC0.42
WACC6.89%
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.
The Current ratio of NOA3 (1.46) is worse than 66.67% of its industry peers.
A Quick Ratio of 1.21 indicates that NOA3 should not have too much problems paying its short term obligations.
NOA3's Quick ratio of 1.21 is in line compared to the rest of the industry. NOA3 outperforms 40.74% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.46 | ||
| Quick Ratio | 1.21 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 3.33% over the past year.
The Earnings Per Share has been growing by 11.14% on average over the past years. This is quite good.
Looking at the last year, NOA3 shows a decrease in Revenue. The Revenue has decreased by -2.91% in the last year.
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
NOA3 is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -0.36% yearly.
The Revenue is expected to grow by 2.54% on average over the next years.
EPS Next Y-28.57%
EPS Next 2Y-6.17%
EPS Next 3Y-1.25%
EPS Next 5Y-0.36%
Revenue Next Year3.49%
Revenue Next 2Y3.45%
Revenue Next 3Y3.05%
Revenue Next 5Y2.54%
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 decreasing.
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
A Price/Earnings ratio of 12.95 indicates a correct valuation of NOA3.
Compared to the rest of the industry, the Price/Earnings ratio of NOA3 indicates a rather cheap valuation: NOA3 is cheaper than 88.89% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of NOA3 to the average of the S&P500 Index (27.38), we can say NOA3 is valued rather cheaply.
The Price/Forward Earnings ratio is 11.69, which indicates a very decent valuation of NOA3.
NOA3's Price/Forward Earnings ratio is rather cheap when compared to the industry. NOA3 is cheaper than 88.89% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.86, NOA3 is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.95 | ||
| Fwd PE | 11.69 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NOA3 indicates a somewhat cheap valuation: NOA3 is cheaper than 77.78% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NOA3 indicates a somewhat cheap valuation: NOA3 is cheaper than 62.96% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.58 | ||
| EV/EBITDA | 8.22 |
4.3 Compensation for Growth
NOA3 has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.16
EPS Next 2Y-6.17%
EPS Next 3Y-1.25%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.47%, NOA3 has a reasonable but not impressive dividend return.
NOA3's Dividend Yield is rather good when compared to the industry average which is at 5.89. NOA3 pays more dividend than 85.19% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, NOA3 pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.47% |
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.
The Dividend Rate of NOA3 has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP69.51%
EPS Next 2Y-6.17%
EPS Next 3Y-1.25%
FRA:NOA3 (9/19/2025, 7:00:00 PM)
4.013
-0.01 (-0.22%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)
Earnings (Next)
Inst Owners34.44%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap21.59B
Analysts70
Price Target4.62 (15.13%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.47% |
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)0.28%
PT rev (3m)-6.77%
EPS NQ rev (1m)0.79%
EPS NQ rev (3m)-19.76%
EPS NY rev (1m)0%
EPS NY rev (3m)-13.92%
Revenue NQ rev (1m)0.02%
Revenue NQ rev (3m)0.75%
Revenue NY rev (1m)-0.01%
Revenue NY rev (3m)-2.81%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.95 | ||
| Fwd PE | 11.69 | ||
| P/S | 1.12 | ||
| P/FCF | 14.58 | ||
| P/OCF | 10.6 | ||
| P/B | 1.09 | ||
| P/tB | 1.78 | ||
| EV/EBITDA | 8.22 |
EPS(TTM)0.31
EY7.72%
EPS(NY)0.34
Fwd EY8.56%
FCF(TTM)0.28
FCFY6.86%
OCF(TTM)0.38
OCFY9.43%
SpS3.58
BVpS3.67
TBVpS2.26
PEG (NY)N/A
PEG (5Y)1.16
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 | 2.22 |
F-Score8
WACC6.89%
ROIC/WACC0.42
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-28.57%
EPS Next 2Y-6.17%
EPS Next 3Y-1.25%
EPS Next 5Y-0.36%
Revenue 1Y (TTM)-2.91%
Revenue growth 3Y-4.69%
Revenue growth 5Y-3.79%
Sales Q2Q%1.79%
Revenue Next Year3.49%
Revenue Next 2Y3.45%
Revenue Next 3Y3.05%
Revenue Next 5Y2.54%
EBIT growth 1Y-26.17%
EBIT growth 3Y-7.82%
EBIT growth 5Y9.88%
EBIT Next Year11.92%
EBIT Next 3Y12.52%
EBIT Next 5Y8.37%
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%