Nokia Oyj

BATS-CHIXE:NOKIAH Stock Report

Market Cap: €22.8b

Nokia Oyj Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 NOKIAH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NOKIAH (€4.24) is trading below our estimate of fair value (€6.36)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NOKIAH. This is calculated by dividing NOKIAH's market cap by their current earnings.
What is NOKIAH's PE Ratio?
PE Ratio25x
Earnings€914.00m
Market Cap€22.82b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NOKIAH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average48.2x
SPT Spirent Communications
93.6x40.5%UK£987.4m
FTC Filtronic
51.6xn/aUK£162.0m
HLMA Halma
35.5x8.6%UK£9.6b
MWE M.T.I Wireless Edge
12x3.5%UK£39.7m
NOKIAH Nokia Oyj
25x18.0%€22.8b

Price-To-Earnings vs Peers: NOKIAH is good value based on its Price-To-Earnings Ratio (25x) compared to the peer average (48.2x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies7PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NOKIAH is good value based on its Price-To-Earnings Ratio (25x) compared to the European Communications industry average (27.6x).

Price to Earnings Ratio vs Fair Ratio

What is NOKIAH'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.

NOKIAH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NOKIAH'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 NOKIAH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.24
€4.33
+2.1%
18.9%€6.00€3.30n/a21
Nov ’25€4.38
€4.29
-2.0%
19.6%€6.00€3.30n/a20
Oct ’25€3.95
€3.98
+0.8%
23.7%€6.50€2.90n/a19
Sep ’25€4.00
€3.99
-0.3%
23.4%€6.50€2.90n/a20
Aug ’25€3.65
€3.97
+8.7%
23.7%€6.50€2.90n/a20
Jul ’25€3.55
€3.95
+11.5%
23.8%€6.50€2.90n/a20
Jun ’25€3.48
€3.93
+13.0%
24.6%€6.50€2.90n/a20
May ’25€3.39
€3.93
+16.0%
24.6%€6.50€2.90n/a20
Apr ’25n/a
€3.96
0%
24.4%€6.50€2.70n/a20
Mar ’25€3.25
€3.95
+21.5%
24.3%€6.50€2.70n/a21
Feb ’25€3.35
€3.89
+16.1%
24.3%€6.50€2.70n/a21
Jan ’25n/a
€3.93
0%
26.3%€6.50€2.70n/a21
Dec ’24€3.21
€4.37
+36.1%
21.3%€6.95€3.20n/a21
Nov ’24€3.07
€4.47
+45.9%
21.8%€6.95€3.20€4.3821
Oct ’24€3.52
€4.95
+40.5%
18.9%€7.00€3.90€3.9522
Sep ’24€3.69
€4.93
+33.3%
18.8%€7.00€3.90€4.0022
Aug ’24€3.59
€4.95
+37.8%
18.5%€7.00€3.90€3.6522
Jul ’24€3.85
€5.42
+40.9%
15.7%€7.80€4.20€3.5523
Jun ’24€3.79
€5.49
+44.9%
15.3%€7.80€4.20€3.4824
May ’24€3.83
€5.52
+44.3%
15.4%€7.80€4.20€3.3923
Apr ’24€4.48
€5.80
+29.5%
13.7%€7.80€4.60n/a25
Mar ’24€4.40
€5.82
+32.4%
13.5%€7.80€4.60€3.2524
Feb ’24€4.36
€5.82
+33.5%
13.6%€7.80€4.60€3.3524
Jan ’24n/a
€5.95
0%
13.3%€8.00€4.50n/a25
Dec ’23€4.79
€5.94
+24.1%
13.3%€8.00€4.50€3.2125
Nov ’23€4.42
€6.01
+36.0%
13.5%€8.00€4.50€3.0723

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

Discover undervalued companies

Cicor Technologies

CHF 183.5m

Develops and manufactures electronic components, devices, and systems worldwide.

CICNZ

CHF 57.00

7D

-3.6%

1Y

29.5%

Corsair Gaming

US$701.5m

Designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific.

0A95

US$6.47

7D

-7.6%

1Y

-50.9%

Midwich Group

UK£293.9m

Distributes audio visual (AV) solutions to trade customers in the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, the Asia Pacific, and North America.

MIDW

UK£2.90

7D

-1.0%

1Y

-24.7%