TYRES Stock Analysis: Nokian Renkaat | HE
Auto Parts | HE, Finland | Market Cap: 2.066m EUR | 12M Return: 88.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 6.07M
EPS Trend: 14.7%
Qual. Beats: 2
Rev. Trend: 95.7%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 10.5 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.
Nokian Renkaat Oyj (TYRES) is a Finnish tire manufacturer founded in 1898 and headquartered in Nokia, Finland. The company develops and produces tires across three segments: Passenger Car Tyres, Heavy Tyres, and Vianor. Its passenger car offerings include winter, summer, and all-season tires for cars, SUVs, and vans, with a particular emphasis on winter products suited to Nordic climate conditions. The Heavy Tyres segment serves forestry, mining, agriculture, ports and terminals, trucks, buses, earthmoving, and road maintenance machinery.
The company operates a vertically integrated distribution and service model, selling through the Vianor retail chain, the Nokian Tyres Authorized Dealers network, third-party tire dealers, car dealerships, OEM partnerships, and online stores. Vianor service centers also provide car maintenance alongside tire services, allowing Nokian Renkaat to capture both product and aftermarket service revenue. The company competes in the global tire industry alongside major multinational manufacturers, with its Nordic roots providing a strong position in winter tire demand.
- North America plant ramp-up drives Passenger Car Tyres volume growth
- Winter tire pricing power supports segment margins against raw material costs
- Heavy Tyres demand benefits from forestry and mining capex cycle
| Net Income: 19.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 10.24 > 1.0 |
| NWC/Revenue: 30.88% < 20% (prev 31.43%; Δ -0.55% < -1%) |
| CFO/TA 0.07 > 3% & CFO 177.9m > Net Income 19.4m |
| Net Debt (922.5m) to EBITDA (214.2m): 4.31 < 3 |
| Current Ratio: 1.82 > 1.5 & < 3 |
| Outstanding Shares: last quarter (137.9m) vs 12m ago -0.72% < -2% |
| Gross Margin: 23.58% > 18% (prev 17.86%; Δ 5.73% > 0.5%) |
| Asset Turnover: 58.94% > 50% (prev 54.96%; Δ 3.98% > 0%) |
| Interest Coverage Ratio: 1.69 > 6 (EBIT TTM 70.1m / Interest Expense TTM 41.5m) |
| A: 0.18 (Total Current Assets 972.0m - Total Current Liabilities 533.5m) / Total Assets 2.38b |
| B: 0.31 (Retained Earnings 746.1m / Total Assets 2.38b) |
| C: 0.03 (EBIT TTM 70.1m / Avg Total Assets 2.41b) |
| D: 0.91 (Book Value of Equity 1.13b / Total Liabilities 1.24b) |
| Altman-Z'' = 3.39 = A |
| DSRI: 1.05 (Receivables 436.8m/393.4m, Revenue 1.42b/1.34b) |
| GMI: 0.76 (GM 17.86% / 23.58%) |
| AQI: 1.11 (AQ_t 0.08 / AQ_t-1 0.07) |
| SGI: 1.06 (Revenue 1.42b / 1.34b) |
| TATA: -0.07 (NI 19.4m - CFO 177.9m) / TA 2.38b) |
| Beneish M = -3.11 (Cap -4..+1) = AA |
As of July 28, 2026, the stock is trading at EUR 14.88 with a total of 454,246 shares traded. Over the past week, the price has changed by +0.88%, over one month by +24.31%, over three months by +43.35% and over the past year by +88.51%.
Current recommended Stop Loss: 14.20 (which is 4.6% or 1.2 ATR below the current price).
Nokian Renkaat has no consensus analysts rating.
P/E Trailing = 107.0
P/E Forward = 12.8041
P/S = 1.455
P/B = 1.8297
P/EG = 1.746
Revenue TTM = 1.42b EUR
EBIT TTM = 70.1m EUR
EBITDA TTM = 214.2m EUR
Long Term Debt = 671.8m EUR (from longTermDebt, last quarter)
Short Term Debt = 197.0m EUR (from shortTermDebt, last quarter)
Debt = 1.01b EUR (from shortLongTermDebtTotal, last quarter) + Leases 107.4m
Net Debt = 922.5m EUR (calculated: Debt 1.01b - CCE 87.8m)
Enterprise Value = 2.99b EUR (2.07b + Debt 1.01b - CCE 87.8m)
Interest Coverage Ratio = 1.69 (Ebit TTM 70.1m / Interest Expense TTM 41.5m)
EV/FCF = 35.75x (Enterprise Value 2.99b / FCF TTM 83.6m)
FCF Yield = 2.80% (FCF TTM 83.6m / Enterprise Value 2.99b)
FCF Margin = 5.89% (FCF TTM 83.6m / Revenue TTM 1.42b)
Net Margin = 1.37% (Net Income TTM 19.4m / Revenue TTM 1.42b)
Gross Margin = 23.58% ((Revenue TTM 1.42b - Cost of Revenue TTM 1.09b) / Revenue TTM)
Gross Margin QoQ = 26.06% (prev 19.10%)
Tobins Q-Ratio = 1.26 (Enterprise Value 2.99b / Total Assets 2.38b)
Interest Expense / Debt = 4.11% (Interest Expense 41.5m / Debt 1.01b)
Taxrate = 22.40% (5.60m / 25.0m)
NOPAT = 54.4m (EBIT 70.1m * (1 - 22.40%))
Current Ratio = 1.82 (Total Current Assets 972.0m / Total Current Liabilities 533.5m)
Debt / Equity = 0.89 (Debt 1.01b / totalStockholderEquity, last quarter 1.13b)
Debt / EBITDA = 4.31 (Net Debt 922.5m / EBITDA 214.2m)
Debt / FCF = 11.03 (Net Debt 922.5m / FCF TTM 83.6m)
Total Stockholder Equity = 1.14b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.81% (Net Income 19.4m / Total Assets 2.38b)
RoE = 1.70% (Net Income TTM 19.4m / Total Stockholder Equity 1.14b)
RoCE = 3.87% (EBIT 70.1m / Capital Employed (Equity 1.14b + L.T.Debt 671.8m))
RoIC = 2.76% (NOPAT 54.4m / Invested Capital 1.97b)
WACC = 6.78% (E(2.07b)/V(3.08b) * Re(8.54%) + D(1.01b)/V(3.08b) * Rd(4.11%) * (1-Tc(0.22)))
Discount Rate = 8.54% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -33.95 | Cagr: 0.02%
[DCF] Terminal Value 75.44% ; FCFF base≈83.6m ; Y1≈83.9m ; Y5≈88.9m
[DCF] Fair Price = 3.34 (EV 1.38b - Net Debt 922.5m = Equity 460.6m / Shares 137.9m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 14.70 | EPS CAGR: 6.12% | SUE: 1.11 | # QB: 2
Revenue Correlation: 95.66 | Revenue CAGR: 7.52% | SUE: 1.44 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.19 | Chg30d=+17.19% | Revisions=+25% | Analysts=4
EPS current Year (2026-12-31): EPS=0.51 | Chg30d=+15.45% | Revisions=+0% | GrowthEPS=+140.6% | GrowthRev=+7.9%
EPS next Year (2027-12-31): EPS=0.81 | Chg30d=+3.05% | Revisions=+25% | GrowthEPS=+59.8% | GrowthRev=+8.8%
[Analyst] Revisions Ratio: +40% (up=2, down=0)