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Nokia Corporation (NOK)
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Nokia Corporation Financial Ratios 2025-2011 | NOK
Brief overview of Nokia Corporation's valuation and returns
The review covers five available annual periods spanning 2021 to 2025.
The latest available valuation ratios are P/E 67.62x (median 21.29x), EV/EBITDA 62.94x (median 18.87x), P/S 1x (median 1x). Valuation is 68% above five-year reference levels. The premium requires support from earnings and returns.
At the current P/E, inverse earnings yield is 1.5%, a useful bridge between price and business earnings.
Returns on assets and capital are represented by ROE 3.1%, ROA 1.8%, ROCE 3.2%. Profitability remains low. Market valuation has limited fundamental support until resource returns improve.
Current PEG of 4.14x points to a premium over forecast earnings momentum.
The cash cycle lengthened by 64.6 days to 84.3 days. Operations require more funding.
Overall assessment
Nokia Corporation's multiples are demanding relative to current business quality. Material improvement is needed to justify them.
Annual Financial Ratios Nokia Corporation
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
P/E |
67.6 | 20.4 | 29.0 | 5.0 | 21.3 | -8.7 | 2968.0 | -93.7 | -16.6 | -28.9 | 9.1 | 6.9 | -36.1 | -4.2 | -13.7 |
P/S |
- | - | - | - | - | 1.0 | 0.9 | 1.4 | 1.1 | 0.9 | 1.8 | 1.9 | 1.7 | 0.4 | 0.4 |
EPS |
0.1 | 0.2 | 0.1 | 0.8 | 0.3 | -0.5 | - | -0.1 | -0.3 | -0.1 | 0.7 | - | - | - | - |
EV (Enterprise Value) |
55.7 B | 38 B | 32.7 B | 37.4 B | 50.9 B | 38.7 B | 38.6 B | 49.7 B | 42.2 B | 42.5 B | 29.8 B | 40.5 B | 44.6 B | 35.7 B | 41 B |
EBITDA per Share |
0.16 | 0.36 | 0.31 | 0.41 | 0.38 | 0.16 | 0.09 | -0.01 | - | 0.227 | 0.559 | 0.489 | 0.485 | -0.263 | 0.635 |
EV/EBITDA |
62.9 | 19.3 | 18.9 | 16.3 | 15.7 | 11.2 | 7.8 | 19.2 | 10.9 | 17.3 | 10.5 | 14.2 | 14.0 | -12.1 | 6.3 |
PEG |
4.14 | 0.47 | -0.18 | - | 0.54 | -21.54 | -241.48 | 1.19 | -0.17 | 0.24 | -0.32 | -0.01 | 0.45 | -0.02 | 0.08 |
P/B |
2.1 | 1.3 | 1.0 | 1.0 | 2.0 | 1.7 | 1.3 | 2.1 | 1.5 | 1.1 | 2.1 | 2.8 | 3.4 | 1.6 | 1.3 |
P/CF |
21.5 | 10.5 | 15.0 | 14.5 | 13.3 | 12.5 | 53.3 | 88.5 | 13.7 | -13.5 | 136.9 | 29.2 | -77.9 | -18.6 | 34.7 |
ROE % |
3.13 | 6.19 | 3.29 | 19.88 | - | -20.06 | 0.05 | -2.21 | -9.21 | -3.81 | 23.48 | 40.20 | -9.51 | -38.53 | -9.80 |
ROA % |
1.76 | 3.28 | 1.70 | 9.92 | 4.11 | -6.95 | 0.02 | -0.86 | -3.64 | -1.71 | 11.78 | 16.44 | -2.44 | -10.37 | -3.22 |
ROCE % |
3.21 | 7.10 | 5.99 | 7.62 | - | 3.62 | 1.79 | -0.23 | 0.06 | -0.90 | 11.91 | 10.97 | 9.72 | -15.05 | 4.24 |
Current Ratio |
2.3 | 2.1 | 2.1 | 2.0 | 1.8 | 1.5 | 1.6 | 1.6 | 1.7 | 1.6 | 2.5 | 1.9 | 1.4 | 1.4 | 1.5 |
DSO |
- | - | - | - | - | - | - | - | - | 115.0 | 125.7 | 108.9 | 89.3 | 67.6 | 68.3 |
DIO |
- | - | - | - | - | - | - | - | - | 60.3 | 52.5 | 65.6 | 39.9 | 25.8 | 31.1 |
DPO |
- | - | - | - | - | - | - | - | - | 91.0 | 98.9 | 119.0 | 91.3 | 73.6 | 73.9 |
Operating Cycle |
- | - | - | - | - | - | - | - | - | 175.4 | 178.2 | 174.5 | 129.1 | 93.3 | 99.4 |
Cash Conversion Cycle |
- | - | - | - | - | - | - | - | - | 84.3 | 79.2 | 55.5 | 37.8 | 19.7 | 25.6 |
Annual performance
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All numbers in EUR currency
Quarterly Financial Ratios Nokia Corporation
| 2025-Q4 | 2024-Q4 | 2023-Q4 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
0.12 | 0.23 | 0.12 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA per Share |
0.16 | 0.36 | 0.31 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROE % |
3.13 | 6.19 | 3.29 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROA % |
1.76 | 3.28 | 1.70 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROCE % |
3.21 | 7.10 | 5.99 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Current Ratio |
2.3 | 2.1 | 2.1 | - | - | - | - | 1.8 | - | - | - | 1.5 | - | - | - | 1.6 | - | - | - | 1.6 | - | - | - | 1.6 | - | - | - | 1.9 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in EUR currency
Multiples are an important financial analysis tool for the company Nokia Corporation, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.
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