NOKIA OYJ (NOKIA.PA) Stock Fundamental Analysis
Europe - EPA:NOKIA - FI0009000681 - Common Stock
5.966 EUR
+0.1 (+1.7%)
Taking everything into account, NOKIA scores 5 out of 10 in our fundamental rating. NOKIA was compared to 28 industry peers in the Communications Equipment industry. NOKIA has an average financial health and profitability rating. NOKIA is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year NOKIA was profitable.
NOKIA had a positive operating cash flow in the past year.
NOKIA had positive earnings in 4 of the past 5 years.
In the past 5 years NOKIA always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of NOKIA (2.57%) is better than 60.71% of its industry peers.
NOKIA's Return On Equity of 4.74% is in line compared to the rest of the industry. NOKIA outperforms 57.14% of its industry peers.
NOKIA has a Return On Invested Capital of 2.86%. This is comparable to the rest of the industry: NOKIA outperforms 53.57% of its industry peers.
The Average Return On Invested Capital over the past 3 years for NOKIA is significantly below the industry average of 10.02%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.57% | ||
| ROE | 4.74% | ||
| ROIC | 2.86% |
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 NOKIA (4.70%) is better than 60.71% of its industry peers.
NOKIA's Profit Margin has improved in the last couple of years.
NOKIA has a Operating Margin of 6.02%. This is in the better half of the industry: NOKIA outperforms 60.71% of its industry peers.
In the last couple of years the Operating Margin of NOKIA has grown nicely.
With a Gross Margin value of 43.88%, NOKIA perfoms like the industry average, outperforming 46.43% of the companies in the same industry.
NOKIA's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.02% | ||
| PM (TTM) | 4.7% | ||
| GM | 43.88% |
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
NOKIA 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 NOKIA has been reduced compared to 1 year ago.
NOKIA has less shares outstanding than it did 5 years ago.
The debt/assets ratio for NOKIA has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 2.59 indicates that NOKIA is not a great score, but indicates only limited risk for bankruptcy at the moment.
NOKIA has a Altman-Z score of 2.59. This is comparable to the rest of the industry: NOKIA outperforms 57.14% of its industry peers.
NOKIA has a debt to FCF ratio of 3.16. This is a good value and a sign of high solvency as NOKIA would need 3.16 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 3.16, NOKIA is doing good in the industry, outperforming 60.71% of the companies in the same industry.
NOKIA has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
NOKIA has a better Debt to Equity ratio (0.16) than 71.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.16 | ||
| Altman-Z | 2.59 |
ROIC/WACC0.4
WACC7.12%
2.3 Liquidity
A Current Ratio of 1.48 indicates that NOKIA should not have too much problems paying its short term obligations.
With a Current ratio value of 1.48, NOKIA is not doing good in the industry: 60.71% of the companies in the same industry are doing better.
A Quick Ratio of 1.23 indicates that NOKIA should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.23, NOKIA perfoms like the industry average, outperforming 42.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.48 | ||
| Quick Ratio | 1.23 |
3. Growth
3.1 Past
NOKIA shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by 0.00%.
The Earnings Per Share has been growing by 11.14% on average over the past years. This is quite good.
The Revenue has been growing slightly by 3.04% in the past year.
NOKIA shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -3.79% yearly.
EPS 1Y (TTM)0%
EPS 3Y1.77%
EPS 5Y11.14%
EPS Q2Q%0%
Revenue 1Y (TTM)3.04%
Revenue growth 3Y-4.69%
Revenue growth 5Y-3.79%
Sales Q2Q%11.6%
3.2 Future
The Earnings Per Share is expected to grow by 0.30% on average over the next years.
Based on estimates for the next years, NOKIA will show a small growth in Revenue. The Revenue will grow by 3.15% on average per year.
EPS Next Y-30.14%
EPS Next 2Y-5.39%
EPS Next 3Y-0.4%
EPS Next 5Y0.3%
Revenue Next Year3.74%
Revenue Next 2Y3.74%
Revenue Next 3Y3.4%
Revenue Next 5Y3.15%
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 19.25, NOKIA is valued on the expensive side.
75.00% of the companies in the same industry are more expensive than NOKIA, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 26.28. NOKIA is valued slightly cheaper when compared to this.
NOKIA is valuated rather expensively with a Price/Forward Earnings ratio of 17.09.
Based on the Price/Forward Earnings ratio, NOKIA is valued a bit cheaper than 67.86% of the companies in the same industry.
NOKIA's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 33.61.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.25 | ||
| Fwd PE | 17.09 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NOKIA is valued a bit cheaper than 64.29% of the companies in the same industry.
NOKIA's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.92 | ||
| EV/EBITDA | 12.51 |
4.3 Compensation for Growth
The decent profitability rating of NOKIA may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.73
EPS Next 2Y-5.39%
EPS Next 3Y-0.4%
5. Dividend
5.1 Amount
NOKIA has a Yearly Dividend Yield of 2.35%. Purely for dividend investing, there may be better candidates out there.
NOKIA's Dividend Yield is a higher than the industry average which is at 5.41.
NOKIA's Dividend Yield is comparable with the S&P500 average which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.35% |
5.2 History
The dividend of NOKIA has a limited annual growth rate of 5.44%.
Dividend Growth(5Y)5.44%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
81.90% of the earnings are spent on dividend by NOKIA. This is not a sustainable payout ratio.
The dividend of NOKIA is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP81.9%
EPS Next 2Y-5.39%
EPS Next 3Y-0.4%
EPA:NOKIA (11/11/2025, 12:41:36 PM)
5.966
+0.1 (+1.7%)
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 Cap32.09B
Revenue(TTM)19.75B
Net Income(TTM)928.00M
Analysts70
Price Target5.04 (-15.52%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.35% |
Yearly Dividend0.13
Dividend Growth(5Y)5.44%
DP81.9%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-4.03%
Min EPS beat(2)-24.77%
Max EPS beat(2)16.71%
EPS beat(4)2
Avg EPS beat(4)-1.21%
Min EPS beat(4)-27.18%
Max EPS beat(4)30.42%
EPS beat(8)4
Avg EPS beat(8)-0.71%
EPS beat(12)5
Avg EPS beat(12)-3.87%
EPS beat(16)9
Avg EPS beat(16)-1.37%
Revenue beat(2)1
Avg Revenue beat(2)-3.52%
Min Revenue beat(2)-7.83%
Max Revenue beat(2)0.79%
Revenue beat(4)2
Avg Revenue beat(4)-2.39%
Min Revenue beat(4)-7.83%
Max Revenue beat(4)1.17%
Revenue beat(8)2
Avg Revenue beat(8)-6.37%
Revenue beat(12)3
Avg Revenue beat(12)-5.91%
Revenue beat(16)4
Avg Revenue beat(16)-4.64%
PT rev (1m)9.7%
PT rev (3m)9.29%
EPS NQ rev (1m)-2.68%
EPS NQ rev (3m)0.9%
EPS NY rev (1m)-0.12%
EPS NY rev (3m)-15.81%
Revenue NQ rev (1m)-1.14%
Revenue NQ rev (3m)-1.26%
Revenue NY rev (1m)0.41%
Revenue NY rev (3m)-0.42%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.25 | ||
| Fwd PE | 17.09 | ||
| P/S | 1.63 | ||
| P/FCF | 24.92 | ||
| P/OCF | 16.85 | ||
| P/B | 1.64 | ||
| P/tB | 2.66 | ||
| EV/EBITDA | 12.51 |
EPS(TTM)0.31
EY5.2%
EPS(NY)0.35
Fwd EY5.85%
FCF(TTM)0.24
FCFY4.01%
OCF(TTM)0.35
OCFY5.93%
SpS3.67
BVpS3.64
TBVpS2.24
PEG (NY)N/A
PEG (5Y)1.73
Graham Number5.04
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.57% | ||
| ROE | 4.74% | ||
| ROCE | 4.51% | ||
| ROIC | 2.86% | ||
| ROICexc | 3.72% | ||
| ROICexgc | 5.91% | ||
| OM | 6.02% | ||
| PM (TTM) | 4.7% | ||
| GM | 43.88% | ||
| FCFM | 6.52% |
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%
ROICexgc growth 3Y-10.42%
ROICexgc 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-Score7
Asset Turnover0.55
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.16 | ||
| Debt/EBITDA | 1.39 | ||
| Cap/Depr | 57.04% | ||
| Cap/Sales | 3.12% | ||
| Interest Coverage | 5.45 | ||
| Cash Conversion | 83.95% | ||
| Profit Quality | 138.79% | ||
| Current Ratio | 1.48 | ||
| Quick Ratio | 1.23 | ||
| Altman-Z | 2.59 |
F-Score7
WACC7.12%
ROIC/WACC0.4
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)0%
EPS 3Y1.77%
EPS 5Y11.14%
EPS Q2Q%0%
EPS Next Y-30.14%
EPS Next 2Y-5.39%
EPS Next 3Y-0.4%
EPS Next 5Y0.3%
Revenue 1Y (TTM)3.04%
Revenue growth 3Y-4.69%
Revenue growth 5Y-3.79%
Sales Q2Q%11.6%
Revenue Next Year3.74%
Revenue Next 2Y3.74%
Revenue Next 3Y3.4%
Revenue Next 5Y3.15%
EBIT growth 1Y-26.89%
EBIT growth 3Y-7.82%
EBIT growth 5Y9.88%
EBIT Next Year10.01%
EBIT Next 3Y12.49%
EBIT Next 5Y9.54%
FCF growth 1Y288.3%
FCF growth 3Y-0.72%
FCF growth 5YN/A
OCF growth 1Y13500%
OCF growth 3Y-1.71%
OCF growth 5Y44.92%
NOKIA OYJ / NOKIA.PA FAQ
Can you provide the ChartMill fundamental rating for NOKIA OYJ?
ChartMill assigns a fundamental rating of 5 / 10 to NOKIA.PA.
Can you provide the valuation status for NOKIA OYJ?
ChartMill assigns a valuation rating of 5 / 10 to NOKIA OYJ (NOKIA.PA). This can be considered as Fairly Valued.
What is the profitability of NOKIA stock?
NOKIA OYJ (NOKIA.PA) has a profitability rating of 6 / 10.
How financially healthy is NOKIA OYJ?
The financial health rating of NOKIA OYJ (NOKIA.PA) is 6 / 10.
Can you provide the expected EPS growth for NOKIA stock?
The Earnings per Share (EPS) of NOKIA OYJ (NOKIA.PA) is expected to decline by -30.14% in the next year.