Nokia Oyj

SEP:NOKIA Stock Report

Market Cap: Kč622.2b

Nokia Oyj Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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.

Discounted Cash Flow
Simply Wall St
Kč72.90
Fair Value
61.9% overvalued intrinsic discount
23
Number of Analysts

Below Fair Value: NOKIA (CZK115.16) is trading above our estimate of fair value (CZK71.1)

Significantly Below Fair Value: NOKIA is trading above our estimate of fair value.

Key Valuation Metric

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

Key metric: As NOKIA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NOKIA. This is calculated by dividing NOKIA's market cap by their current earnings.
What is NOKIA's PE Ratio?
PE Ratio14.6x
Earnings€1.70b
Market Cap€24.80b

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 Average39.8x
UI Ubiquiti
66.1x29.7%US$25.7b
000063 ZTE
21.9x4.6%CN¥196.4b
FFIV F5
30x11.4%US$17.6b
JNPR Juniper Networks
41.4x21.2%US$11.9b
NOKIA Nokia Oyj
14.6x2.7%Kč24.8b

Price-To-Earnings vs Peers: NOKIA is good value based on its Price-To-Earnings Ratio (14.6x) compared to the peer average (39.8x).

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
NOKIA 14.6xIndustry Avg. 19.6xNo. of Companies7PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NOKIA is good value based on its Price-To-Earnings Ratio (14.6x) compared to the European Communications industry average (19.8x).

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 Ratio14.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NOKIA's Price-To-Earnings Fair Ratio for valuation analysis.

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
CurrentKč118.00
Kč121.30
+2.8%
13.9%Kč152.09Kč93.01n/a23
Jan ’26Kč103.76
Kč111.99
+7.9%
19.9%Kč151.75Kč82.77n/a22
Dec ’25Kč101.64
Kč109.38
+7.6%
18.9%Kč151.50Kč83.33n/a21
Nov ’25Kč107.00
Kč108.91
+1.8%
19.6%Kč152.29Kč83.76n/a20
Oct ’25Kč100.00
Kč99.82
-0.2%
23.7%Kč163.12Kč72.78n/a19
Sep ’25Kč97.02
Kč99.96
+3.0%
23.4%Kč162.80Kč72.63n/a20
Aug ’25Kč91.36
Kč100.79
+10.3%
23.7%Kč165.18Kč73.69n/a20
Jul ’25Kč88.45
Kč99.47
+12.5%
23.8%Kč163.51Kč72.95n/a20
Jun ’25Kč86.18
Kč99.21
+15.1%
24.6%Kč164.11Kč73.22n/a20
May ’25Kč84.55
Kč99.21
+17.3%
24.6%Kč164.11Kč73.22n/a20
Apr ’25Kč83.00
Kč100.12
+20.6%
24.4%Kč164.48Kč68.32n/a20
Mar ’25Kč82.98
Kč100.38
+21.0%
24.3%Kč165.02Kč68.55n/a21
Feb ’25Kč84.88
Kč96.28
+13.4%
24.3%Kč160.89Kč66.83Kč115.0021
Jan ’25Kč73.42
Kč96.15
+31.0%
26.3%Kč159.17Kč66.12Kč103.7621
Dec ’24Kč79.00
Kč106.30
+34.6%
21.3%Kč168.98Kč77.81Kč101.6421
Nov ’24Kč79.72
Kč110.29
+38.4%
21.8%Kč171.41Kč78.92Kč107.0021
Oct ’24Kč87.00
Kč120.69
+38.7%
18.9%Kč170.76Kč95.14Kč100.0022
Sep ’24Kč85.61
Kč118.54
+38.5%
18.8%Kč168.49Kč93.87Kč97.0222
Aug ’24Kč88.39
Kč118.50
+34.1%
18.5%Kč167.66Kč93.41Kč91.3622
Jul ’24Kč89.00
Kč128.40
+44.3%
15.7%Kč184.64Kč99.42Kč88.4523
Jun ’24Kč90.00
Kč130.11
+44.6%
15.3%Kč184.72Kč99.47Kč86.1824
May ’24Kč92.00
Kč129.90
+41.2%
15.4%Kč183.40Kč98.76Kč84.5523
Apr ’24Kč103.80
Kč136.34
+31.3%
13.7%Kč183.43Kč108.18Kč83.0025
Mar ’24Kč104.00
Kč138.07
+32.8%
13.5%Kč185.03Kč109.12Kč82.9824
Feb ’24Kč104.08
Kč138.40
+33.0%
13.6%Kč185.42Kč109.35Kč84.8824
Analyst Price Target
Consensus Narrative from 23 Analysts
Kč123.23
Fair Value
4.2% undervalued intrinsic discount
23
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/07 17:46
End of Day Share Price 2025/02/07 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Nokia Oyj is covered by 89 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Jean-Michel SalvadorAlphaValue
Richard KramerArete Research Services LLP