Nokia Oyj

BATS-CHIXE:NOKIAP Stock Report

Market Cap: €22.8b

Nokia Oyj Valuation

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

Below Fair Value: NOKIAP (€4.3) is trading below our estimate of fair value (€6.44)

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

Key Valuation Metric

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

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

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

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NOKIAP 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
NOKIAP Nokia Oyj
25x18.0%€22.8b

Price-To-Earnings vs Peers: NOKIAP 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 NOKIAP'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: NOKIAP 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 NOKIAP'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.

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

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NOKIAP'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 NOKIAP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
€4.33
0%
18.9%€6.00€3.30n/a21
Nov ’25n/a
€4.29
0%
19.6%€6.00€3.30n/a20
Oct ’25n/a
€3.98
0%
23.7%€6.50€2.90n/a19
Sep ’25n/a
€3.99
0%
23.4%€6.50€2.90n/a20
Aug ’25n/a
€3.97
0%
23.7%€6.50€2.90n/a20
Jul ’25n/a
€3.95
0%
23.8%€6.50€2.90n/a20
Jun ’25n/a
€3.93
0%
24.6%€6.50€2.90n/a20
May ’25n/a
€3.93
0%
24.6%€6.50€2.90n/a20
Apr ’25n/a
€3.96
0%
24.4%€6.50€2.70n/a20
Mar ’25n/a
€3.95
0%
24.3%€6.50€2.70n/a21
Feb ’25n/a
€3.89
0%
24.3%€6.50€2.70n/a21
Jan ’25n/a
€3.93
0%
26.3%€6.50€2.70n/a21
Dec ’24n/a
€4.37
0%
21.3%€6.95€3.20n/a21
Nov ’24n/a
€4.47
0%
21.8%€6.95€3.20n/a21
Oct ’24n/a
€4.95
0%
18.9%€7.00€3.90n/a22
Sep ’24n/a
€4.93
0%
18.8%€7.00€3.90n/a22
Aug ’24n/a
€4.95
0%
18.5%€7.00€3.90n/a22
Jul ’24n/a
€5.42
0%
15.7%€7.80€4.20n/a23
Jun ’24n/a
€5.49
0%
15.3%€7.80€4.20n/a24
May ’24n/a
€5.52
0%
15.4%€7.80€4.20n/a23
Apr ’24n/a
€5.80
0%
13.7%€7.80€4.60n/a25
Mar ’24n/a
€5.82
0%
13.5%€7.80€4.60n/a24
Feb ’24n/a
€5.82
0%
13.6%€7.80€4.60n/a24
Jan ’24n/a
€5.95
0%
13.3%€8.00€4.50n/a25
Dec ’23n/a
€5.94
0%
13.3%€8.00€4.50n/a25
Nov ’23n/a
€6.01
0%
13.5%€8.00€4.50n/a23

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

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