NOKIA-SEK Stock Analysis: Nokia | ST
Communication Equipment | ST, Sweden | Market Cap: 596.816m SEK | 12M Return: 138% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 143M
EPS Trend: -57.9%
Qual. Beats: 0
Rev. Trend: -60.0%
Qual. Beats: 0
Warnings
Tailwinds
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 Finnish telecommunications equipment and network solutions provider, founded in 1865 and headquartered in Espoo, Finland. The company operates through four segments-Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies-offering fixed and optical networking gear, mobile radio access and microwave products, cloud and 5G core software, and intellectual property licensing. It serves communications service providers as well as verticals such as defense, energy, enterprise, public sector, and transportation across North and Latin America, Greater China, India, Asia Pacific, Europe, the Middle East, and Africa.
Nokia is one of the worlds principal telecom network infrastructure vendors, competing alongside companies such as Ericsson and Huawei in supplying mobile network equipment to operators. Its business model combines hardware sales (base stations, routers, optical systems) with a growing software and services layer covering network management, private wireless, and 5G core solutions, supplemented by patent and brand licensing revenue from its Nokia Technologies unit.
- 5G core and private wireless demand lift Cloud segment margins
- Optical Networks revenue grows on AI data center connectivity demand
- Mobile Networks margins face pressure from Ericsson and Samsung competition
| Net Income: 942.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -2.44 > 1.0 |
| NWC/Revenue: 24.44% < 20% (prev 23.31%; Δ 1.12% < -1%) |
| CFO/TA 0.03 > 3% & CFO 1.25b > Net Income 942.5m |
| Net Debt (-812.0m) to EBITDA (2.52b): -0.32 < 3 |
| Current Ratio: 1.51 > 1.5 & < 3 |
| Outstanding Shares: last quarter (5.62b) vs 12m ago 2.27% < -2% |
| Gross Margin: 44.52% > 18% (prev -132.5%; Δ 177.0% > 0.5%) |
| Asset Turnover: 55.29% > 50% (prev 53.42%; Δ 1.87% > 0%) |
| Interest Coverage Ratio: 6.97 > 6 (EBIT TTM 1.53b / Interest Expense TTM 219.0m) |
| 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: 0.04 (EBIT TTM 1.53b / Avg Total Assets 36.7b) |
| D: 1.33 (Book Value of Equity 21.2b / Total Liabilities 16.0b) |
| Altman-Z'' = 2.68 = A |
| DSRI: 1.14 (Receivables 6.84b/5.70b, Revenue 20.3b/19.2b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.00 (AQ_t 0.54 / AQ_t-1 0.54) |
| SGI: 1.05 (Revenue 20.3b / 19.2b) |
| TATA: -0.01 (NI 942.5m - CFO 1.25b) / TA 37.3b) |
| Beneish M = -2.88 (Cap -4..+1) = A |
As of September 27, 2026, the stock is trading at SEK 103.20 with a total of 1,037,042 shares traded. Over the past week, the price has changed by -2.41%, over one month by +4.75%, over three months by -23.04% and over the past year by +137.97%.
Current recommended Stop Loss: 89.60 (which is 13.2% or 2.7 ATR below the current price).
Nokia has no consensus analysts rating.
Market Cap EUR = 52.8b (597b SEK * 0.0885 SEK.EUR)
P/E Trailing = 78.963
P/E Forward = 24.4499
P/S = 29.2643
P/B = 2.4493
P/EG = 0.9096
Revenue TTM = 20.3b EUR
EBIT TTM = 1.53b EUR
EBITDA TTM = 2.52b 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 = 52.0b EUR (52.8b + Debt 4.32b - CCE 5.13b)
Interest Coverage Ratio = 6.97 (Ebit TTM 1.53b / Interest Expense TTM 219.0m)
EV/FCF = 83.59x (Enterprise Value 52.0b / FCF TTM 622.1m)
FCF Yield = 1.20% (FCF TTM 622.1m / Enterprise Value 52.0b)
FCF Margin = 3.07% (FCF TTM 622.1m / Revenue TTM 20.3b)
Net Margin = 4.65% (Net Income TTM 942.5m / Revenue TTM 20.3b)
Gross Margin = 44.52% ((Revenue TTM 20.3b - Cost of Revenue TTM 11.2b) / Revenue TTM)
Gross Margin QoQ = 44.57% (prev 44.21%)
Tobins Q-Ratio = 1.40 (Enterprise Value 52.0b / Total Assets 37.3b)
Interest Expense / Debt = 5.07% (Interest Expense 219.0m / Debt 4.32b)
Taxrate = 27.11% (360.9m / 1.33b)
NOPAT = 1.11b (EBIT 1.53b * (1 - 27.11%))
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 = -0.32 (Net Debt -812.0m / EBITDA 2.52b)
Debt / FCF = -1.31 (Net Debt -812.0m / FCF TTM 622.1m)
Total Stockholder Equity = 20.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.57% (Net Income 942.5m / Total Assets 37.3b)
RoE = 4.55% (Net Income TTM 942.5m / Total Stockholder Equity 20.7b)
RoCE = 6.74% (EBIT 1.53b / Capital Employed (Equity 20.7b + L.T.Debt 1.92b))
RoIC = 4.10% (NOPAT 1.11b / Invested Capital 27.1b)
WACC = 9.58% (E(52.8b)/V(57.1b) * Re(10.06%) + D(4.32b)/V(57.1b) * Rd(5.07%) * (1-Tc(0.27)))
Discount Rate = 10.06% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 33.77 | Cagr: 0.42%
[DCF] Terminal Value 68.64% ; FCFF base≈965.3m ; Y1≈846.5m ; Y5≈683.9m
[DCF] Fair Price = 1.78 (EV 9.13b - Net Debt -812.0m = Equity 9.94b / Shares 5.60b; r=9.58% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -57.86 | EPS CAGR: -8.86% | SUE: -0.54 | # QB: 0
Revenue Correlation: -60.04 | Revenue CAGR: -4.44% | SUE: -0.09 | # QB: 0
EPS current Quarter (2025-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2025-09-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2025-12-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | GrowthEPS=+0.0% | GrowthRev=-2.2%
EPS next Year (2026-12-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | GrowthEPS=+0.0% | GrowthRev=+4.3%