NOKIA Stock Analysis: Nokia | HE
Communication Equipment | HE, Finland | Market Cap: 52.885m EUR | 12M Return: 132.9% | FI0009000681 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 153M
EPS Trend: 6.5%
Qual. Beats: 0
Rev. Trend: -59.9%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Nokia Oyj is a global supplier of mobile, fixed, and cloud network solutions, headquartered in Espoo, Finland, and operating across North and Latin America, Greater China, India, Asia Pacific, Europe, the Middle East, and Africa. Founded in 1865, the company is classified within the Information Technology sector as a Communications Equipment provider.
The company is organized into four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. Its portfolio spans fiber and copper access, IP edge routing, data center networking, optical transport, radio access networks (RAN), microwave radio links, and network management software. Nokia also sells cloud-native software covering 5G core networks, private wireless, industrial edge solutions, and network APIs, and licenses its patent portfolio and brand through the Nokia Technologies segment.
Nokia operates in the telecommunications equipment industry, where major competitors include Ericsson, Huawei, and ZTE. Its customer base spans communications service providers as well as defense, energy, enterprise and industrial campuses, private network operators, the public sector, and transportation industries, reflecting a business model that combines large-scale carrier infrastructure sales with enterprise solutions and recurring patent licensing revenue.
- Mobile Networks margin contracts amid 5G pricing war with Ericsson
- Network Infrastructure revenue grows on optical and fiber demand
- Nokia Technologies patent royalties deliver stable high-margin income
| Net Income: 943.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -2.67 > 1.0 |
| NWC/Revenue: 24.43% < 20% (prev 23.31%; Δ 1.12% < -1%) |
| CFO/TA 0.03 > 3% & CFO 1.14b > Net Income 943.0m |
| Net Debt (-812.0m) to EBITDA (2.66b): -0.31 < 3 |
| Current Ratio: 1.51 > 1.5 & < 3 |
| Outstanding Shares: last quarter (5.80b) vs 12m ago 5.65% < -2% |
| Gross Margin: 44.62% > 18% (prev 45.57%; Δ -0.95% > 0.5%) |
| Asset Turnover: 55.30% > 50% (prev 53.42%; Δ 1.88% > 0%) |
| Interest Coverage Ratio: 6.65 > 6 (EBIT TTM 1.67b / Interest Expense TTM 251.0m) |
| A: 0.13 (Total Current Assets 14.8b - Total Current Liabilities 9.80b) / Total Assets 37.3b |
| B: 0.04 (Retained Earnings 1.55b / Total Assets 37.3b) |
| C: 0.05 (EBIT TTM 1.67b / Avg Total Assets 36.7b) |
| D: 1.33 (Book Value of Equity 21.2b / Total Liabilities 16.0b) |
| Altman-Z'' = 2.71 = A |
| DSRI: 1.14 (Receivables 6.84b/5.70b, Revenue 20.3b/19.2b) |
| GMI: 1.02 (GM 45.57% / 44.62%) |
| AQI: 1.00 (AQ_t 0.54 / AQ_t-1 0.54) |
| SGI: 1.05 (Revenue 20.3b / 19.2b) |
| TATA: -0.01 (NI 943.0m - CFO 1.14b) / TA 37.3b) |
| Beneish M = -2.86 (Cap -4..+1) = A |
As of September 27, 2026, the stock is trading at EUR 9.13 with a total of 14,639,094 shares traded. Over the past week, the price has changed by -2.50%, over one month by +2.45%, over three months by -24.72% and over the past year by +132.93%.
Current recommended Stop Loss: 8.00 (which is 12.4% or 2.5 ATR below the current price).
Nokia has no consensus analysts rating.
P/E Trailing = 78.7167
P/E Forward = 24.5098
P/S = 2.5932
P/B = 2.4524
P/EG = 0.9108
Revenue TTM = 20.3b EUR
EBIT TTM = 1.67b EUR
EBITDA TTM = 2.66b EUR
Long Term Debt = 1.92b EUR (from longTermDebt, last quarter)
Short Term Debt = 676.0m EUR (from shortTermDebt, last quarter)
Debt = 4.32b EUR (from shortLongTermDebtTotal, last quarter) + Leases 959.0m
Net Debt = -812.0m EUR (calculated: Debt 4.32b - CCE 5.13b)
Enterprise Value = 52.1b EUR (52.9b + Debt 4.32b - CCE 5.13b)
Interest Coverage Ratio = 6.65 (Ebit TTM 1.67b / Interest Expense TTM 251.0m)
EV/FCF = 97.15x (Enterprise Value 52.1b / FCF TTM 536.0m)
FCF Yield = 1.03% (FCF TTM 536.0m / Enterprise Value 52.1b)
FCF Margin = 2.64% (FCF TTM 536.0m / Revenue TTM 20.3b)
Net Margin = 4.65% (Net Income TTM 943.0m / Revenue TTM 20.3b)
Gross Margin = 44.62% ((Revenue TTM 20.3b - Cost of Revenue TTM 11.2b) / Revenue TTM)
Gross Margin QoQ = 45.05% (prev 44.21%)
Tobins Q-Ratio = 1.40 (Enterprise Value 52.1b / Total Assets 37.3b)
Interest Expense / Debt = 5.81% (Interest Expense 251.0m / Debt 4.32b)
Taxrate = 27.12% (361.0m / 1.33b)
NOPAT = 1.22b (EBIT 1.67b * (1 - 27.12%))
Current Ratio = 1.51 (Total Current Assets 14.8b / Total Current Liabilities 9.80b)
Debt / Equity = 0.20 (Debt 4.32b / totalStockholderEquity, last quarter 21.2b)
Debt / EBITDA = -0.31 (Net Debt -812.0m / EBITDA 2.66b)
Debt / FCF = -1.51 (Net Debt -812.0m / FCF TTM 536.0m)
Total Stockholder Equity = 20.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.57% (Net Income 943.0m / Total Assets 37.3b)
RoE = 4.55% (Net Income TTM 943.0m / Total Stockholder Equity 20.7b)
RoCE = 7.37% (EBIT 1.67b / Capital Employed (Equity 20.7b + L.T.Debt 1.92b))
RoIC = 4.49% (NOPAT 1.22b / Invested Capital 27.1b)
WACC = 10.04% (E(52.9b)/V(57.2b) * Re(10.51%) + D(4.32b)/V(57.2b) * Rd(5.81%) * (1-Tc(0.27)))
Discount Rate = 10.51% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 61.60 | Cagr: 1.88%
[DCF] Terminal Value 67.06% ; FCFF base≈914.0m ; Y1≈801.5m ; Y5≈647.6m
[DCF] Fair Price = 1.60 (EV 8.14b - Net Debt -812.0m = Equity 8.95b / Shares 5.60b; r=10.04% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 6.47 | EPS CAGR: 0.63% | SUE: 0.47 | # QB: 0
Revenue Correlation: -59.91 | Revenue CAGR: -4.43% | SUE: -0.05 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.06 | Chg30d=-0.93% | Revisions=-67% | Analysts=8
EPS current Year (2026-12-31): EPS=0.34 | Chg30d=-0.32% | Revisions=+6% | GrowthEPS=+17.5% | GrowthRev=+4.3%
EPS next Year (2027-12-31): EPS=0.40 | Chg30d=-0.07% | Revisions=+40% | GrowthEPS=+18.6% | GrowthRev=+6.7%
[Analyst] Revisions Ratio: +3% (up=16, down=15)