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Nokia Corporation Income Statement 2025-2011 | NOK
Brief overview of revenue and earnings at Nokia Corporation
The conclusions below are based on five years of reported results. Nokia Corporation reported revenue of 12.5 billion euros in 2015 and 21.9 billion euros by 2020. Across the full period, sales moved by +74.8%; the average annual rate was 11.8%. The company expanded its sales base at a healthy rate.
At the gross-profit level, the result moved from 5.5 billion euros to 8.2 billion euros, a change of +50.2%. Costs absorbed a larger share of revenue over the period. The gross margin was 43.6% at the start and 37.5% at the end. Weakening gross profitability reduces the quality of the top-line trend.
Over the period, EBITDA shifted from 2.1 billion euros to 885 million euros, a change of −56.9%. Operating performance weakened relative to revenue. EBITDA margin moved from 16.4% to 4%. A lower EBITDA share weakens the quality of the result.
The net financial result changed from 2.5 billion euros to −2.5 billion euros. Profit turned into a loss, the most concerning signal in the results.
The five-year change in capitalization reached −17%: from 26.4 billion euros to 21.9 billion euros. Capitalization grew more slowly than the underlying results.
Overall conclusion
The results contain several connected negative signals. The financial profile benefits from a larger revenue base. The overall view is constrained by declining net profitability, pressure on operating profitability and pressure from direct costs. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement Nokia Corporation
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
44.6 B | 26.2 B | 19.7 B | 21.4 B | 35 B | 21.9 B | 20.8 B | 31.9 B | 24.8 B | 26 B | 26.4 B | 28.1 B | 26.1 B | 15.2 B | 18.7 B |
Shares |
5.42 B | 5.48 B | 5.55 B | 5.61 B | 5.63 B | 5.61 B | 5.6 B | 5.59 B | 5.65 B | 5.73 B | 3.67 B | 3.7 B | 3.71 B | 3.71 B | 3.71 B |
Historical Prices |
8.24 | 4.78 | 3.55 | 3.81 | 6.22 | 3.91 | 3.71 | 5.7 | 4.38 | 4.4 | 6.08 | 6.64 | 6.43 | 3.13 | 3.55 |
Net Income |
660 M | 1.28 B | 679 M | 4.26 B | 1.64 B | -2.52 B | 7 M | -340 M | -1.49 B | -766 M | 2.47 B | 3.46 B | -615 M | -3.11 B | -1.16 B |
Revenue |
- | - | - | - | - | 21.9 B | 23.3 B | 22.6 B | 23.1 B | 23.6 B | 12.5 B | 12.7 B | 12.7 B | 30.2 B | 38.7 B |
Cost of Revenue |
11.2 B | 10.4 B | 12.6 B | 13.7 B | 13.4 B | 13.7 B | 15.1 B | 14.3 B | 14 B | 15.1 B | 6.96 B | - | - | - | - |
Gross Profit |
8.66 B | 8.86 B | 8.55 B | 10.1 B | 8.83 B | 8.19 B | 8.26 B | 8.31 B | 9.14 B | 8.46 B | 5.45 B | 5.64 B | 5.34 B | 8.39 B | 11.3 B |
Operating Income |
885 M | 1.97 B | 1.73 B | 2.3 B | 2.16 B | 885 M | 485 M | -59 M | 16 M | -1.1 B | 1.7 B | - | - | - | - |
EBITDA |
885 M | 1.97 B | 1.73 B | 2.3 B | 2.16 B | 885 M | 485 M | -59 M | 16 M | 1.3 B | 2.05 B | 1.81 B | 1.8 B | -977 M | 2.36 B |
Operating Expenses |
- | - | - | - | - | 7.17 B | 7.37 B | 8.11 B | 8.48 B | 8.75 B | 3.72 B | 4.13 B | 4.27 B | 10.7 B | 10.5 B |
General and Administrative Expenses |
3.07 B | 2.87 B | 2.86 B | 2.96 B | 2.79 B | - | - | - | - | - | - | - | 697 M | 959 M | 1.12 B |
All numbers in EUR currency
Quarterly Income Statement 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
5.42 B | 5.48 B | 5.55 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net Income |
660 M | 1.28 B | 679 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
11.2 B | 10.4 B | 12.6 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
8.66 B | 8.86 B | 8.55 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
885 M | 1.97 B | 1.73 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
885 M | 1.97 B | 1.73 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
3.07 B | 2.87 B | 2.86 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in EUR currency
The income statement is one of the three key financial reports of a company Nokia Corporation (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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