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Nokia OyjNYSE:NOK Stock Report

Market Cap US$84.1b
Share Price
US$14.80
US$11.69
26.6% overvalued intrinsic discount
1Y179.2%
7D1.4%
1D
Portfolio Value
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Nokia Oyj

NYSE:NOK Stock Report

Market Cap: US$84.1b

Nokia Oyj (NOK) Stock Overview

Provides mobile, fixed, and cloud network solutions in North and Latin America, Greater China, India, Asia Pacific, Europe, the Middle East, and Africa. More details

NOK fundamental analysis
Snowflake Score
Valuation1/6
Future Growth3/6
Past Performance1/6
Financial Health6/6
Dividends1/6

Rewards

Earnings are forecast to grow 25.17% per year

Risk Analysis

Large one-off items impacting financial results

Profit margins (3.9%) are lower than last year (6.3%)


NOK Community Fair Values

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Nokia Oyj Competitors

Price History & Performance

Summary of share price highs, lows and changes for Nokia Oyj
Historical stock prices
Current Share Price€14.80
52 Week High€17.45
52 Week Low€4.00
Beta0.78
1 Month Change6.09%
3 Month Change73.10%
1 Year Change179.25%
3 Year Change245.79%
5 Year Change190.20%
Change since IPO1,024.27%

Recent News & Updates

Seeking Alpha • Jun 11

Nokia: AI Is An Opportunity, Not A Miracle (Downgrade)

Summary Nokia (NOK) is downgraded to Sell as its stock price far exceeds intrinsic value amid macro uncertainty and elevated expectations. Despite strong AI-driven growth in Optical Networks and robust financials, NOK’s business fundamentals do not justify the recent valuation surge. Macro risks, including higher-for-longer interest rates and continued client CAPEX constraints, threaten NOK’s ability to capitalize on AI and infrastructure cycles. I am considering trimming my position soon after a ~250% gain, awaiting a more attractive entry point if valuation normalizes, unlocking capital for better opportunities. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Jun 11

Nokia: AI Is An Opportunity, Not A Miracle (Downgrade)

Summary Nokia (NOK) is downgraded to Sell as its stock price far exceeds intrinsic value amid macro uncertainty and elevated expectations. Despite strong AI-driven growth in Optical Networks and robust financials, NOK’s business fundamentals do not justify the recent valuation surge. Macro risks, including higher-for-longer interest rates and continued client CAPEX constraints, threaten NOK’s ability to capitalize on AI and infrastructure cycles. I am considering trimming my position soon after a ~250% gain, awaiting a more attractive entry point if valuation normalizes, unlocking capital for better opportunities. Read the full article on Seeking Alpha
Seeking Alpha • Mar 31

Formula 6G: Nokia In Pole Position With Strong Margins And Global Reach

Summary NOK is significantly undervalued with a short-term price target of $6.85 per share and long-term price target of $14.52 per share. Despite NOK's strong margins, regional diversification, and dominant 6G positioning, NOK appears undervalued with strong growth prospects. Aggressive cost-cutting measures and strategic regional diversification enhance NOK's profitability and resilience against geopolitical tensions. NOK's leadership in 6G R&D and robust IP portfolio position it to capture significant 6G market share, driving long-term value creation. Read the full article on Seeking Alpha
Seeking Alpha • Mar 13

Nokia Better Positioned Than Ericsson To Face Uncertainty

Summary Ericsson's stock dropped around 15% in late January due to NEC Corp.'s potential acquisition of CSG Systems, possibly because investors see it as a challenge to Ericsson's telecom cloud ambitions. Thus, despite the Swedish company's leading position in mobile networks compared to Nokia, I do not consider it a buy. The Finnish company appears better positioned to face uncertainty as the telecom software industry consolidates and reciprocity tariffs potentially hit U.S. imports in April. Nokia's stronger profitability suggests more pricing flexibility to respond to increased competition while its revenue streams are more diversified. Thus, Nokia is a buy and Ericsson is a Hold. Read the full article on Seeking Alpha
Seeking Alpha • Jan 31

Why I'm Maintaining My Hold Rating Despite Its Strong Q4 Results

Summary Nokia's Q4 2024 earnings and revenues both beat estimates, leading to potential positive EPS revisions and a possible rating upgrade from C-. Operating margin hit 19.1%, the highest since 2015, driven by strong North American demand and a favorable product mix in network infrastructure. Nokia's strong cash generation suggests higher returns through dividends and buybacks. Despite headwinds, Nokia's strategic acquisition of Infinera and focus on hyperscalers and data centers bolster its growth outlook, maintaining a "hold" rating. Read the full article on Seeking Alpha
Seeking Alpha • Jan 24

Nokia: Potentially Underestimated In 2025

Summary Nokia's stock might be undervalued with potential for growth due to new deals and partnerships in AI and 5G, making it a cautious Buy for 2025. Despite stagnant revenue and recent declines, Nokia's improving gross margins and strong cash flows suggest a financial turnaround is possible. The stock's extremely low valuation compared to sector medians presents a favorable risk-reward profile, with potential for significant price appreciation. Investors should watch for revenue growth in Network Infrastructure and Mobile Networks and continued margin improvements in upcoming earnings reports. Read the full article on Seeking Alpha
Seeking Alpha • Nov 20

Nokia: My Take On A Potential Upside For The Company

Summary Nokia has a strong asset and patent portfolio, but its competitive edge is limited, especially against rivals like Ericsson. Despite recent improvements, Nokia's sales have been declining, and its future growth prospects are uncertain. NOK stock's valuation is not compelling, with a target price of €3.2/share, making it a "Hold" due to numerous risks. Nokia's 3% yield and fundamentals are decent, but the competitive landscape and R&D demands pose significant challenges. Read the full article on Seeking Alpha

Shareholder Returns

NOKUS CommunicationsUS Market
7D1.4%-0.2%0.5%
1Y179.2%92.5%23.5%

Return vs Industry: NOK exceeded the US Communications industry which returned 92.5% over the past year.

Return vs Market: NOK exceeded the US Market which returned 23.5% over the past year.

Price Volatility

Is NOK's price volatile compared to industry and market?
NOK volatility
NOK Average Weekly Movement10.3%
Communications Industry Average Movement9.8%
Market Average Movement7.2%
10% most volatile stocks in US Market16.7%
10% least volatile stocks in US Market3.1%

Stable Share Price: NOK has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: NOK's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
186578,005Justin Hotardwww.nokia.com

Nokia Oyj, together with its subsidiaries, provides mobile, fixed, and cloud network solutions in North and Latin America, Greater China, India, Asia Pacific, Europe, the Middle East, and Africa. It operates in four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company offers fixed network solutions, such as fiber and copper technologies, access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP network solutions, which delivers IP edge routing and data center networking solutions for residential, mobile, enterprise, and cloud applications; and optical networks solutions, which provides optical transport networks for metro, regional, and long-haul applications.

Nokia Oyj Fundamentals Summary

How do Nokia Oyj's earnings and revenue compare to its market cap?
NOK fundamental statistics
Market capUS$84.14b
Earnings (TTM)US$895.52m
Revenue (TTM)US$23.14b
94.0x
P/E Ratio
3.6x
P/S Ratio

Is NOK overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
NOK income statement (TTM)
Revenue€20.00b
Cost of Revenue€10.93b
Gross Profit€9.07b
Other Expenses€8.30b
Earnings€774.00m

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

Jul 23, 2026

Earnings per share (EPS)0.14
Gross Margin45.36%
Net Profit Margin3.87%
Debt/Equity Ratio11.2%

How did NOK perform over the long term?

See historical performance and comparison

Dividends

1.1%
Current Dividend Yield
99%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/15 20:30
End of Day Share Price 2026/06/12 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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 60 analysts. 23 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
Richard KramerArete Research Services LLP
James KelleherArgus Research Company