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Earnings transcript
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NOK
Nokia Oyj
$12.06
-0.85
(-6.58%)
| Exchange: | NYSE |
| Market Cap: | 65.135B |
| Shares Outstanding: | 4.793B |
Delayed data
About The Company
| Sector: | Technology | |||||
| Industry: | Communication Equipment | |||||
| CEO: | Justin Hotard | |||||
| Full Time Employees: | 78434 | |||||
| Address: |
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| Website: | https://www.nokia.com |
Nokia Oyj stands as a global technology leader, delivering comprehensive network infrastructure and solutions across mobile, fixed, and cloud domains. Its operations are structured into four primary divisions: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. The Mobile Networks segment furnishes radio access network technologies, spanning from 2G to 5G, alongside crucial microwave radio links for transport. Within Network Infrastructure, Nokia provides fixed access solutions such as fiber and copper, coupled with cloud and virtualization services. This segment also encompasses a robust Wi-Fi portfolio, featuring mesh solutions and cloud-based controllers, as well as sophisticated IP routing solutions for aggregation, edge, and core applications tailored for residential, business, mobile, and industrial sectors. Its extensive optical network offerings include coherent optical transponders, optical transport network switchers, wavelength-division multiplexers, reconfigurable optical add-drop multiplexer solutions, and optical line systems designed for metro access, data center interconnect, regional, and long/ultra-long-haul applications. Additionally, Nokia provides capabilities for submarine networks. The Cloud and Network Services division delivers business application software, advanced cloud and cognitive services, core network software, and specialized enterprise solutions. Through Nokia Technologies, the company engages in licensing its valuable intellectual property, encompassing patents, various technologies, and the iconic Nokia brand, in addition to offering hardware, software, and related services. Serving a diverse clientele, Nokia’s customers include communications service providers, major internet companies (webscales and hyperscalers), digital industries, and governmental entities. Nokia Oyj was founded in 1865 and maintains its headquarters in Espoo, Finland.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 21,138,000 | 19,220,000 | 19,889,000 |
| Gross Profit | 8,546,000 | 8,864,000 | 8,659,000 |
| EBITDA | 2,910,000 | 3,431,000 | 2,253,000 |
| Operating Income | 1,470,000 | 1,590,000 | 782,000 |
| Net Income | 665,000 | 1,277,000 | 651,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 39,860,000 | 39,149,000 | 37,580,999 |
| Total Liabilities | 19,232,000 | 18,402,000 | 16,531,961 |
| Total Stockholders Equity | 20,537,000 | 20,657,000 | 20,958,076 |
| Total Debt | 5,188,000 | 4,750,000 | 5,207,783 |
| Cash and Cash Equivalents | 6,234,000 | 6,623,000 | 5,459,675 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,317,000 | 2,493,000 | 1,989,263.208 |
| Capital Expenditure | -652,000 | -472,000 | -582,082.809 |
| Free Cash Flow | 665,000 | 2,021,000 | 1,407,180.398 |
| Net Income | 679,000 | 1,284,000 | 604,175.063 |
| Net Change in Cash | 767,000 | 389,000 | -377,267.607 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 24,188,133.571 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 25,925,073.131 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 24,885,427.834 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 3,499,178.161 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 3,750,452.653 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 3,600,052.288 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 3,529,208.594 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 3,861,576.567 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 3,662,651.034 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 3,335,729.620 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 3,575,266.942 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 3,431,891.861 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 0.670 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 0.700 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 0.640 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 13 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 2 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Revenue Growth: Nokia reported a 3% increase in Q4 2025 net sales to EUR 6.1 billion, reflecting positive momentum in key segments. This growth aligns with strategic investments in high-demand areas like AI and cloud technologies, as highlighted in the earnings call.
- Operational Efficiency: The earnings call emphasized improved operating margins, driven by cost optimization efforts and a focus on high-margin products, positioning Nokia favorably against industry peers in the telecommunications equipment sector.
- Strong Cash Position: Balance sheet data indicates robust cash and cash equivalents, supporting Nokia’s ability to fund innovation and capital expenditures without excessive reliance on debt, as evidenced by a manageable debt-to-equity ratio (TTM).
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Intrinsic Value Calculator
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Common questions about NOK valuation
Is Nokia Oyj (NOK) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Nokia Oyj (NOK) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is NOK a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether NOK trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is NOK’s P/E ratio?
You can see NOK’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for NOK?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is NOK a good long-term investment?
Whether NOK fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
NOK
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Daily snapshot
-6.58
Trading Metrics:
| Open: | 12.66 | Previous Close: | 12.91 | |
| Day Low: | 11.9 | Day High: | 12.91 | |
| Year Low: | 4 | Year High: | 17.45 | |
| Price Avg 50: | 13.71 | Price Avg 200: | 8.56 | |
| Volume: | 77.223M | Average Volume: | 113.378M |
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Login — it's freeNOK full analysis
YouTube Video Transcript: Comprehensive Stock Analysis of Nokia (NOK) Hey everyone, welcome back to the channel! Today, we’re diving deep into a comprehensive stock analysis of Nokia, ticker symbol NOK. If you’re looking to understand whether this tech giant is a buy, hold, or sell, you’ve come to the right place. We’ll cover everything from financials to recent performance, valuation, SWOT analysis, and even intrinsic value calculations. So, grab a coffee, stick around, and let’s break down Nokia together. Don’t…
