NOK Chart
About

Nokia Oyj, together with its subsidiaries, provides mobile, fixed, and cloud network solutions in North and Latin America, Greater China, India, Asia Pacific, Europe, the Middle East, and Africa. It operates in four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company offers fixed network solutions, such as fiber and copper technologies, access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP network solutions, which delivers IP edge routing and data center networking solutions for residential, mobile, enterprise, and cloud applications; and optical networks solutions, which provides optical transport networks for metro, regional, and long-haul applications. It also provides mobile technology products and services for radio access networks and microwave radio links for transport networks; and network management solutions, as well as network planning, optimization, network deployment, and technical support services. In addition, the company offers cloud and network services, including open, secure, automated, and scalable software and solutions; and 5G core, secure autonomous networks, private wireless and industrial edge, and network APIs. Further, it licenses intellectual property, including patents, technologies, and the Nokia brand. The company serves its products and services to defense communications energy and resources, enterprise and industrial campus, private networks, public sector, and transportation industries. Nokia Oyj was founded in 1865 and is headquartered in Espoo, Finland.

Fundamentals
Scroll to Statements
Sector Technology Industry Communication Equipment Market Cap 48.29B
Enterprise Value 46.35B Income 629.00M Sales 19.89B
Book/sh 4.31 Cash/sh 1.15 Dividend Yield 186.00%
Payout 126.97% Employees 78005 IPO
P/E 66.54 Forward P/E 19.88 PEG
P/S 2.43 P/B 2.01 P/C
EV/EBITDA 19.00 EV/Sales 2.33 Quick Ratio 1.31
Current Ratio 1.58 Debt/Eq 20.97 LT Debt/Eq
EPS (ttm) 0.13 EPS next Y 0.44 EPS Growth -40.80%
Revenue Growth 2.40% Earnings 2026-04-23 ROA 2.50%
ROE 3.05% ROIC Gross Margin 44.65%
Oper. Margin 13.03% Profit Margin 3.27% Shs Outstand 5.58B
Shs Float 4.76B Short Float 0.70% Short Ratio 0.94
Short Interest 52W High 8.82 52W Low 4.00
Beta 0.61 Avg Volume 39.85M Volume 69.59M
Target Price $7.56 Recom Hold Prev Close $8.24
Price $8.65 Change 4.98%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$7.56
Mean price target
2. Current target
$8.65
Latest analyst target
3. DCF / Fair value
$1.61
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$8.65
Low
$4.30
High
$10.00
Mean
$7.56

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-09 init Morgan Stanley — → Overweight $8
2025-12-01 main JP Morgan Overweight → Overweight $8
2025-10-28 up Jefferies Hold → Buy
2025-10-24 main JP Morgan Overweight → Overweight $7
2025-07-29 main JP Morgan Overweight → Overweight $6
2025-02-21 main JP Morgan Overweight → Overweight $6
2025-01-06 main Craig-Hallum Buy → Buy $7
2024-12-09 up JP Morgan Neutral → Overweight $6
2024-10-21 main JP Morgan Neutral → Neutral $4
2024-10-18 reit Northland Capital Markets Outperform → Outperform $7
2024-09-04 reit Northland Capital Markets Outperform → Outperform $7
2024-04-16 main JP Morgan Neutral → Neutral $4
2023-12-19 main Goldman Sachs Neutral → Neutral $3
2023-12-18 down Goldman Sachs Buy → Neutral $3
2023-12-15 down Citigroup Buy → Sell
2023-12-13 main Raymond James Outperform → Outperform $4
2023-10-20 main Goldman Sachs Buy → Buy $5
2023-10-20 main Raymond James Outperform → Outperform $5
2023-10-17 main JP Morgan Overweight → Overweight $7
2023-07-21 main Goldman Sachs Buy → Buy $6
Insider Transactions

No recent insider transactions.

Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems32.70M71.42M13.20M-24.80M
TaxRateForCalcs0.300.180.200.20
NormalizedEBITDA2.15B3.04B2.84B3.65B
TotalUnusualItems108.00M393.00M66.00M-124.00M
TotalUnusualItemsExcludingGoodwill108.00M393.00M66.00M-124.00M
NetIncomeFromContinuingOperationNetMinorityInterest629.00M1.70B635.00M4.19B
ReconciledDepreciation1.12B1.01B1.09B1.14B
ReconciledCostOfRevenue11.23B10.36B12.59B13.66B
EBITDA2.25B3.43B2.91B3.53B
EBIT1.13B2.42B1.82B2.39B
NetInterestIncome6.00M101.00M-29.00M-125.00M
InterestExpense219.00M326.00M354.00M220.00M
InterestIncome354.00M476.00M408.00M174.00M
NormalizedIncome553.70M1.38B582.20M4.29B
NetIncomeFromContinuingAndDiscontinuedOperation651.00M1.28B665.00M4.25B
TotalExpenses19.11B17.63B19.67B21.32B
TotalOperatingIncomeAsReported885.00M1.97B1.73B2.30B
DilutedAverageShares5.50B5.53B5.59B5.67B
BasicAverageShares5.42B5.48B5.55B5.61B
DilutedEPS0.120.230.120.75
BasicEPS0.120.230.120.76
DilutedNIAvailtoComStockholders651.00M1.28B665.00M4.25B
NetIncomeCommonStockholders651.00M1.28B665.00M4.25B
NetIncome651.00M1.28B665.00M4.25B
MinorityInterests-9.00M-7.00M-14.00M-9.00M
NetIncomeIncludingNoncontrollingInterests660.00M1.28B679.00M4.26B
NetIncomeDiscontinuousOperations22.00M-427.00M30.00M57.00M
NetIncomeContinuousOperations638.00M1.71B649.00M4.20B
TaxProvision277.00M380.00M820.00M-2.03B
PretaxIncome915.00M2.09B1.47B2.17B
OtherIncomeExpense127.00M400.00M27.00M-150.00M
SpecialIncomeCharges22.00M357.00M168.00M-65.00M
GainOnSaleOfPPE22.00M95.00M139.00M2.00M
GainOnSaleOfBusiness0.00262.00M29.00M5.00M
OtherSpecialCharges-90.00M
WriteOff0.000.0072.00M0.00
ImpairmentOfCapitalAssets0.000.00
EarningsFromEquityInterest19.00M7.00M-39.00M-26.00M
GainOnSaleOfSecurity86.00M36.00M-102.00M-59.00M
NetNonOperatingInterestIncomeExpense6.00M101.00M-29.00M-125.00M
TotalOtherFinanceCost129.00M49.00M83.00M79.00M
InterestExpenseNonOperating219.00M326.00M354.00M220.00M
InterestIncomeNonOperating354.00M476.00M408.00M174.00M
OperatingIncome782.00M1.59B1.47B2.44B
OperatingExpense7.88B7.27B7.08B7.66B
OtherOperatingExpenses-6.00M12.00M-69.00M92.00M
ProvisionForDoubtfulAccounts-45.00M-122.00M5.00M106.00M
ResearchAndDevelopment4.86B4.51B4.28B4.50B
SellingGeneralAndAdministration3.07B2.87B2.86B2.96B
GrossProfit8.66B8.86B8.55B10.10B
CostOfRevenue11.23B10.36B12.59B13.66B
TotalRevenue19.89B19.22B21.14B23.76B
OperatingRevenue19.89B19.22B21.14B23.76B
Line Item2025-12-312024-12-312023-12-312022-12-31
TreasurySharesNumber159.71M232.70M87.90M45.28M
OrdinarySharesNumber5.58B5.37B5.53B5.59B
ShareIssued5.74B5.61B5.61B5.63B
TotalDebt4.41B4.75B5.19B5.52B
TangibleBookValue13.57B14.12B13.95B14.40B
InvestedCapital24.38B24.54B24.73B25.81B
WorkingCapital5.79B6.59B7.23B7.49B
NetTangibleAssets13.57B14.12B13.95B14.40B
CapitalLeaseObligations1.00B863.00M997.00M1.04B
CommonStockEquity20.97B20.66B20.54B21.33B
TotalCapitalization23.30B23.57B24.17B25.58B
TotalEquityGrossMinorityInterest21.06B20.75B20.63B21.43B
MinorityInterest91.00M90.00M91.00M93.00M
StockholdersEquity20.97B20.66B20.54B21.33B
GainsLossesNotAffectingRetainedEarnings18.35B18.15B18.61B19.56B
OtherEquityAdjustments15.66B13.93B15.26B15.49B
ForeignCurrencyTranslationAdjustments-1.27B263.00M-249.00M169.00M
UnrealizedGainLoss3.96B3.96B3.60B3.90B
TreasuryStock352.00M431.00M352.00M352.00M
RetainedEarnings1.86B1.96B1.40B1.38B
AdditionalPaidInCapital870.00M734.00M628.00M503.00M
CapitalStock246.00M246.00M246.00M246.00M
CommonStock246.00M246.00M246.00M246.00M
TotalLiabilitiesNetMinorityInterest16.54B18.40B19.23B21.52B
TotalNonCurrentLiabilitiesNetMinorityInterest6.54B7.01B8.30B8.74B
OtherNonCurrentLiabilities117.00M87.00M69.00M57.00M
EmployeeBenefits1.95B2.08B2.30B2.46B
NonCurrentPensionAndOtherPostretirementBenefitPlans1.95B2.08B2.30B2.46B
NonCurrentAccruedExpenses30.00M30.00M42.00M46.00M
NonCurrentDeferredLiabilities678.00M747.00M935.00M452.00M
NonCurrentDeferredRevenue286.00M185.00M210.00M120.00M
NonCurrentDeferredTaxesLiabilities392.00M562.00M725.00M332.00M
LongTermDebtAndCapitalLeaseObligation3.13B3.58B4.44B5.11B
LongTermCapitalLeaseObligation797.00M664.00M799.00M858.00M
LongTermDebt2.33B2.92B3.64B4.25B
LongTermProvisions637.00M479.00M518.00M622.00M
CurrentLiabilities10.00B11.39B10.93B12.77B
OtherCurrentLiabilities988.00M2.46B1.71B1.66B
CurrentDeferredLiabilities1.56B1.51B2.16B1.98B
CurrentDeferredRevenue1.56B1.51B2.16B1.98B
CurrentDebtAndCapitalLeaseObligation1.29B1.17B752.00M412.00M
CurrentCapitalLeaseObligation203.00M199.00M198.00M184.00M
CurrentDebt1.08B969.00M554.00M228.00M
OtherCurrentBorrowings1.08B969.00M554.00M228.00M
CurrentProvisions779.00M749.00M744.00M813.00M
PayablesAndAccruedExpenses5.39B5.51B5.57B7.92B
CurrentAccruedExpenses1.78B1.78B1.62B2.67B
Payables3.61B3.73B3.95B5.24B
TotalTaxPayable629.00M521.00M526.00M513.00M
IncomeTaxPayable344.00M207.00M203.00M185.00M
AccountsPayable2.98B3.21B3.42B4.73B
TotalAssets37.60B39.15B39.86B42.94B
TotalNonCurrentAssets21.80B21.16B21.69B22.68B
OtherNonCurrentAssets41.00M79.00M60.00M
DefinedPensionBenefit6.38B6.93B6.26B6.75B
NonCurrentPrepaidAssets45.00M47.00M
NonCurrentDeferredAssets3.64B3.60B3.87B3.83B
NonCurrentDeferredTaxesAssets3.64B3.60B3.87B3.83B
NonCurrentAccountsReceivable277.00M210.00M213.00M160.00M
InvestmentsAndAdvances1.62B1.76B1.90B1.98B
InvestmentinFinancialAssets1.44B1.64B1.81B1.78B
AvailableForSaleSecurities1.44B1.64B1.81B1.78B
FinancialAssetsDesignatedasFairValueThroughProfitorLossTotal828.00M758.00M
LongTermEquityInvestment180.00M124.00M88.00M199.00M
GoodwillAndOtherIntangibleAssets7.39B6.54B6.59B6.93B
OtherIntangibleAssets1.40B802.00M1.09B1.26B
Goodwill6.00B5.74B5.50B5.67B
NetPPE2.49B2.12B2.86B2.94B
AccumulatedDepreciation-4.20B-4.05B-4.00B-3.97B
GrossPPE6.69B6.17B6.86B6.91B
ConstructionInProgress319.00M126.00M167.00M248.00M
OtherProperties301.00M286.00M275.00M241.00M
MachineryFurnitureEquipment3.55B3.39B3.55B3.59B
BuildingsAndImprovements1.63B1.42B1.43B1.42B
LandAndImprovements890.00M946.00M1.43B1.41B
Properties0.000.000.000.00
CurrentAssets15.79B17.99B18.17B20.27B
AssetsHeldForSaleCurrent0.0079.00M0.00
PrepaidAssets143.00M173.00M187.00M423.00M
Inventory2.21B2.16B2.72B3.27B
FinishedGoods1.09B930.00M980.00M1.38B
WorkInProcess538.00M525.00M583.00M815.00M
RawMaterials583.00M708.00M1.16B1.07B
Receivables6.68B6.74B6.94B7.42B
OtherReceivables1.08B945.00M1.36B1.23B
TaxesReceivable618.00M545.00M655.00M638.00M
AccountsReceivable4.97B5.25B4.92B5.55B
CashCashEquivalentsAndShortTermInvestments6.76B8.91B8.24B9.16B
OtherShortTermInvestments1.30B2.29B2.01B3.69B
CashAndCashEquivalents5.46B6.62B6.23B5.47B
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow1.47B2.02B665.00M873.00M
RepurchaseOfCapitalStock-624.00M-680.00M-300.00M-300.00M
RepaymentOfDebt-1.10B-695.00M-1.04B-219.00M
IssuanceOfDebt151.00M101.00M496.00M8.00M
IssuanceOfCapitalStock859.00M0.000.00
CapitalExpenditure-606.00M-472.00M-652.00M-601.00M
EndCashPosition5.46B6.62B6.23B5.47B
BeginningCashPosition6.62B6.23B5.47B6.69B
EffectOfExchangeRateChanges-226.00M16.00M-91.00M19.00M
ChangesInCash-935.00M373.00M858.00M-1.24B
FinancingCashFlow-1.61B-2.00B-1.50B-837.00M
CashFlowFromContinuingFinancingActivities-1.61B-2.00B-1.50B-837.00M
NetOtherFinancingCharges-501.00M
CashDividendsPaid-759.00M-723.00M-621.00M-353.00M
CommonStockDividendPaid-759.00M-723.00M-621.00M-353.00M
NetCommonStockIssuance235.00M-680.00M-300.00M-300.00M
CommonStockPayments-624.00M-680.00M-300.00M-300.00M
CommonStockIssuance859.00M0.000.00
NetIssuancePaymentsOfDebt-585.00M-600.00M-581.00M-184.00M
NetShortTermDebtIssuance360.00M-6.00M-40.00M27.00M
NetLongTermDebtIssuance-945.00M-594.00M-541.00M-211.00M
LongTermDebtPayments-1.10B-695.00M-1.04B-219.00M
LongTermDebtIssuance151.00M101.00M496.00M8.00M
InvestingCashFlow-1.40B-117.00M1.04B-1.88B
CashFlowFromContinuingInvestingActivities-1.40B-117.00M1.04B-1.88B
NetOtherInvestingChanges88.00M61.00M22.00M-31.00M
NetInvestmentPurchaseAndSale834.00M4.00M1.48B-1.26B
SaleOfInvestment1.29B1.21B3.42B2.45B
PurchaseOfInvestment-454.00M-1.20B-1.94B-3.71B
NetBusinessPurchaseAndSale-1.74B193.00M6.00M-17.00M
SaleOfBusiness40.00M259.00M25.00M3.00M
PurchaseOfBusiness-1.78B-66.00M-19.00M-20.00M
NetPPEPurchaseAndSale-578.00M-375.00M-463.00M-568.00M
SaleOfPPE28.00M97.00M189.00M33.00M
PurchaseOfPPE-606.00M-472.00M-652.00M-601.00M
OperatingCashFlow2.07B2.49B1.32B1.47B
CashFlowFromContinuingOperatingActivities2.07B2.49B1.32B1.47B
TaxesRefundPaid-396.00M-342.00M-576.00M-381.00M
InterestReceivedCFO163.00M226.00M178.00M65.00M
InterestPaidCFO-212.00M-263.00M-241.00M-180.00M
ChangeInWorkingCapital-209.00M-569.00M-1.28B-1.84B
ChangeInOtherCurrentLiabilities-333.00M-609.00M-2.03B-401.00M
ChangeInInventory149.00M404.00M443.00M-991.00M
ChangeInReceivables-25.00M-364.00M304.00M-451.00M
OtherNonCashItems359.00M286.00M582.00M205.00M
StockBasedCompensation337.00M241.00M202.00M149.00M
AssetImpairmentCharge18.00M611.00M25.00M152.00M
DeferredTax277.00M385.00M825.00M-2.03B
DeferredIncomeTax277.00M385.00M825.00M-2.03B
DepreciationAmortizationDepletion1.12B1.01B1.09B1.14B
DepreciationAndAmortization1.12B1.01B1.09B1.14B
AmortizationCashFlow521.00M390.00M423.00M
AmortizationOfIntangibles521.00M390.00M423.00M
Depreciation598.00M624.00M664.00M
OperatingGainsLosses-45.00M-380.00M-162.00M-62.00M
EarningsLossesFromEquityInvestments26.00M-9.00M
GainLossOnInvestmentSecurities-47.00M56.00M-27.00M-188.00M
GainLossOnSaleOfPPE-22.00M-94.00M-143.00M-30.00M
GainLossOnSaleOfBusiness-23.00M-286.00M-19.00M-5.00M
NetIncomeFromContinuingOperations660.00M1.28B679.00M4.26B
SEC Filings

No SEC filings found for this symbol (may be non-US or ticker not in SEC index).

Public Trades for NOK
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status