Nokia Oyj

BRSE:NOKIA Stock Report

Market Cap: CHF 19.3b

Nokia Oyj Valuation

Is NOKIA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NOKIA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NOKIA (CHF4.9) is trading below our estimate of fair value (CHF9.48)

Significantly Below Fair Value: NOKIA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NOKIA?

Other financial metrics that can be useful for relative valuation.

NOKIA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.8x
Enterprise Value/EBITDA5.7x
PEG Ratio1.5x

Price to Earnings Ratio vs Peers

How does NOKIA's PE Ratio compare to its peers?

The above table shows the PE ratio for NOKIA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average53.8x
LOGN Logitech International
20.4x0.6%CHF 12.0b
ALSN ALSO Holding
28.5x19.5%CHF 3.1b
000063 ZTE
12.6x4.9%CN¥112.8b
COTN Comet Holding
153.6x48.3%CHF 2.7b
NOKIA Nokia Oyj
22.4x15.4%CHF 20.3b

Price-To-Earnings vs Peers: NOKIA is good value based on its Price-To-Earnings Ratio (22.4x) compared to the peer average (53.8x).

Price to Earnings Ratio vs Industry

How does NOKIA's PE Ratio compare vs other companies in the European Communications Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a59.0%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a59.0%
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No more companies

Price-To-Earnings vs Industry: NOKIA is good value based on its Price-To-Earnings Ratio (22.4x) compared to the European Communications industry average (23.2x).

Price to Earnings Ratio vs Fair Ratio

What is NOKIA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NOKIA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.4x
Fair PE Ratio30x

Price-To-Earnings vs Fair Ratio: NOKIA is good value based on its Price-To-Earnings Ratio (22.4x) compared to the estimated Fair Price-To-Earnings Ratio (30x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NOKIA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 4.90
CHF 3.80
-22.4%
23.7%CHF 6.23CHF 2.78n/a20
Aug ’25CHF 4.90
CHF 3.80
-22.4%
23.7%CHF 6.23CHF 2.78n/a20
Jul ’25CHF 4.90
CHF 3.83
-21.7%
23.8%CHF 6.30CHF 2.81n/a20
Jun ’25CHF 4.90
CHF 3.82
-22.1%
24.6%CHF 6.31CHF 2.82n/a20
May ’25CHF 4.90
CHF 3.82
-22.1%
24.6%CHF 6.31CHF 2.82n/a20
Apr ’25CHF 4.90
CHF 3.87
-20.9%
24.4%CHF 6.37CHF 2.64n/a20
Mar ’25CHF 4.90
CHF 3.76
-23.3%
24.3%CHF 6.18CHF 2.57n/a21
Feb ’25CHF 4.90
CHF 3.63
-25.8%
24.3%CHF 6.07CHF 2.52n/a21
Jan ’25CHF 4.90
CHF 3.71
-24.3%
26.3%CHF 6.14CHF 2.55n/a21
Dec ’24CHF 4.90
CHF 4.17
-15.0%
21.3%CHF 6.62CHF 3.05n/a21
Nov ’24CHF 4.90
CHF 4.29
-12.4%
21.8%CHF 6.67CHF 3.07n/a21
Oct ’24CHF 4.90
CHF 4.79
-2.3%
18.9%CHF 6.77CHF 3.77n/a22
Sep ’24CHF 4.90
CHF 4.72
-3.7%
18.8%CHF 6.71CHF 3.74n/a22
Aug ’24CHF 4.90
CHF 4.76
-2.9%
18.5%CHF 6.73CHF 3.75CHF 4.9022
Jul ’24CHF 4.90
CHF 5.31
+8.3%
15.7%CHF 7.63CHF 4.11CHF 4.9023
Jun ’24CHF 4.90
CHF 5.35
+9.1%
15.3%CHF 7.59CHF 4.09CHF 4.9024
May ’24CHF 4.90
CHF 5.43
+10.9%
15.4%CHF 7.67CHF 4.13CHF 4.9023
Apr ’24CHF 4.90
CHF 5.78
+17.9%
13.7%CHF 7.78CHF 4.59CHF 4.9025
Mar ’24CHF 4.90
CHF 5.76
+17.6%
13.5%CHF 7.72CHF 4.55CHF 4.9024
Feb ’24CHF 4.90
CHF 5.79
+18.2%
13.6%CHF 7.76CHF 4.58CHF 4.9024
Jan ’24CHF 4.90
CHF 5.89
+20.2%
13.3%CHF 7.92CHF 4.45CHF 4.9025
Dec ’23CHF 4.90
CHF 5.82
+18.9%
13.3%CHF 7.84CHF 4.41CHF 4.9025
Nov ’23CHF 4.90
CHF 5.95
+21.5%
13.5%CHF 7.93CHF 4.46CHF 4.9023
Oct ’23CHF 4.90
CHF 6.00
+22.4%
11.0%CHF 7.69CHF 4.61CHF 4.9021
Sep ’23CHF 4.90
CHF 6.01
+22.7%
11.3%CHF 7.80CHF 4.68CHF 4.9022
Aug ’23CHF 4.90
CHF 6.01
+22.7%
11.3%CHF 7.80CHF 4.68CHF 4.9022

Analyst Forecast: Target price is less than 20% higher than the current share price.

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