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Nokia Oyj

Nokia Oyj

NYSE•NOK
CEO: Mr. Pekka Ilmari Lundmark M.Sc.(Eng.)
Sector: Technology
Industry: Communication Equipment
Listing Date: 1994-07-01
Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission. It serves its products and services to communications service providers, webscales and hyperscalers, digital industries, and government. The company also offers mobile technology products and services for radio access networks and microwave radio links for transport networks, network management solutions, as well as network planning, optimization, network deployment, and technical support services. In addition, it offers cloud and network services, including core network solutions, such as voice and packet core; business applications, such as security, automation, and monetization; cloud and cognitive services; and enterprise solutions, including private wireless and industrial automation. Further, the company licenses intellectual property, including patents, technologies, and the Nokia brand. Nokia Oyj was founded in 1865 and is headquartered in Espoo, Finland.
Contact Information
Karakaari 7, Espoo, 02610, Finland
358-1044-88000
www.nokia.com
Market Cap
$35.75B
P/E (TTM)
25.7
70.7
Dividend Yield
2.5%
52W High
$8.19
52W Low
$4.00
52W Range
63%
Rank45Top 43.2%
4.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$5.65B+11.72%
4-Quarter Trend

EPS

$70.14K+187499900.00%
4-Quarter Trend

FCF

$602.42M-24.05%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Operating Profit Rises 20% Operating profit reached EUR 1,999M, increasing 20% from EUR 1,661M in 2023, despite 9% net sales decline to EUR 19,220M.
Profit Jumps 89% Profit for the year was EUR 1,284M, showing an 89% increase compared to EUR 679M reported in the prior year, driven by continuing operations.
Technologies Sales Surge Nokia Technologies sales grew 78% to EUR 1,928M, driven by smartphone license renewals and strong patent portfolio monetization efforts.
Capital Returned to Shareholders Executed EUR 680M share buyback program and paid EUR 714M in dividends during the fiscal year 2024 to return cash to shareholders.

Risk Factors

Mobile Networks Sales Decline Mobile Networks net sales fell 21% to EUR 7,725M, heavily impacted by weakness in the India market and North America demand moderation.
Network Infrastructure Margin Pressure Network Infrastructure operating margin compressed to 11.7% from 14.7% due to 6% net sales decline across all underlying businesses.
Geopolitical and Economic Uncertainty Risks include macroeconomic uncertainty, tariffs, geopolitical tensions, and potential adverse effects on customer spending and supply chain stability.
Cybersecurity and Litigation Exposure Ongoing exposure to cybersecurity threats, litigation risks (e.g., Amazon patent case), and regulatory changes impacting operations globally.

Outlook

Optical Business Scale Improved Completed Infinera acquisition in February 2025 to significantly improve optical scale, profitability, and accelerate growth strategy in data centers.
Strategic Portfolio Management Divested Submarine Networks business in 2024 while continuing focus on core technology leadership and R&D investments, including Fenix acquisition.
Leadership Transition Planned CEO Pekka Lundmark steps down March 2025; Justin Hotard appointed as successor effective April 1, 2025, ensuring smooth transition.
Continued R&D Investment Focus Filed record 3,000 patent applications in 2024, emphasizing R&D investment for 5G-Advanced and future 6G technology leadership.

Peer Comparison

Revenue (TTM)

Hewlett Packard Enterprise CompanyHPE
$34.30B
+14.1%
Telefonaktiebolaget LM Ericsson (publ)ERIC
$23.49B
-2.2%
Nokia OyjNOK
$21.80B
+5.9%

Gross Margin (Latest Quarter)

Keysight Technologies, Inc.KEYS
61.2%
-1.1pp
Telefonaktiebolaget LM Ericsson (publ)ERIC
48.1%
+1.8pp
Nokia OyjNOK
44.2%
-1.5pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
NOK$35.75B25.75.8%11.3%
KEYS$35.40B42.115.2%26.3%
CLS$34.92B50.138.5%11.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-4.0%
Flat Growth
4Q Net Income CAGR
-24.4%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Jan 29, 2026
|
EPS:$0.17
|
Revenue:$6.10B
Reports
All Years
  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 13, 2025|
    Revenue: $20.79B-9.1%
    |
    EPS: $0.25+91.7%
    Beat
  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $22.86B-15.1%
    |
    EPS: $0.13-84.2%
    Beat
  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 2, 2023|
    Revenue: $26.19B+12.2%
    |
    EPS: $0.80+162.1%
    Beat
  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Mar 3, 2022|
    Revenue: $26.25B+1.5%
    |
    EPS: $0.34+164.4%
    Miss
  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Mar 4, 2021|
    Revenue: $24.94B-6.2%
    |
    EPS: $-0.51-14162.5%
    Miss