Nokia Corp. (NOK): price, analyst ratings, earnings and fundamentals
Updated 16 September 2026, 08:02 ET
Nokia Corp. (NOK) closed at $9.84 on 15 September 2026, up 2.0%. The stock is down 8.6% over one month and up 118.2% over one year. It trades 43.6% below its 52-week high of $17.45. Analysts recorded 1 action in the last 90 days; the median price target of $15 is 52.4% above the last close. The company last reported on 23 July 2026 for Q2 2026: EPS of $0.08 against an estimate of $0.07, a beat of 15.7%, on revenue of $5.6 billion.
Price and performance
Performance figures use dividend and split adjusted closes over trading sessions, so a one-year move compares the last close with the close 252 sessions earlier. The 52-week range uses the adjusted daily highs and lows of the same window. Read the guide: Momentum, trend and technical indicators.
The live chart with technical indicators is in the app: open NOK in FundSpec.
Analyst ratings
Over the last 90 days FundSpec recorded 1 analyst action on NOK from 1 firm: 1 initiation. The most recent targets from 3 firms range from $15 to $21, with a median of $15, 52.4% above the last close.
| Date | Firm | Action | Price target |
|---|---|---|---|
| 15 Sep 2026 | Rosenblatt | Initiates Coverage On Buy | $15.00 |
| 12 Jun 2026 | JP Morgan | Maintains Overweight | $14.00 to $21.00 |
| 27 Apr 2026 | Argus Research | Upgrades to Buy from Hold | $15.00 |
| 9 Feb 2026 | Morgan Stanley | Initiates Coverage On Overweight | $8.00 |
| 1 Dec 2025 | JP Morgan | Maintains Overweight | $7.10 to $8.00 |
| 28 Oct 2025 | Jefferies | Upgrades to Buy from Hold | |
| 24 Oct 2025 | JP Morgan | Maintains Overweight | $6.00 to $7.10 |
| 29 Jul 2025 | JP Morgan | Maintains Overweight | $6.50 to $6.00 |
| 21 Feb 2025 | JP Morgan | Maintains Overweight | $6.35 to $6.30 |
| 6 Jan 2025 | Craig-Hallum | Maintains Buy | $6.00 to $7.00 |
A price target is one firm's twelve-month view, and the median across firms is a steadier reading than any single call. Upgrades and downgrades matter more when they change a rating, not only a target. Read the guide: What analyst ratings and price targets actually tell you.
Every action with the firm's history is in Analyst Ratings.
Earnings
The next report is scheduled for 22 October 2026 before the open for Q3 2026, with EPS expected at $0.08 on revenue of $5.8 billion. Nokia Corp. beat the EPS estimate in 4 of its last 8 reported quarters.
| Period | Reported | EPS estimate | EPS actual | Surprise | Revenue |
|---|---|---|---|---|---|
| Q2 2026 | 23 Jul 2026 | $0.07 | $0.08 | +15.71% | $5.6B |
| Q1 2026 | 23 Apr 2026 | $0.06 | $0.06 | -3.33% | $5.3B |
| Q4 2025 | 29 Jan 2026 | $0.17 | $0.19 | +9.41% | $7.1B |
| Q3 2025 | 23 Oct 2025 | $0.06 | $0.07 | +16.67% | $5.6B |
| Q2 2025 | 24 Jul 2025 | $0.07 | $0.04 | -37.14% | $5.2B |
| Q1 2025 | 24 Apr 2025 | $0.05 | $0.03 | -36.00% | $4.6B |
| Q4 2024 | 30 Jan 2025 | $0.14 | $0.19 | +35.71% | $6.4B |
| Q3 2024 | 17 Oct 2024 | $0.08 | $0.07 | -12.50% | $4.8B |
An earnings surprise is the reported EPS against the consensus estimate on the day. The price reaction depends as much on guidance and on what was already priced in as on the surprise itself. Read the guide: Earnings season: estimates, surprises and price reaction.
Estimates, confirmed dates and alerts for every company are in Earnings.
Fundamentals
On a trailing twelve month basis the company shows revenue growth of 3.48%, a gross margin of 43.54%, an operating margin of 4.45% and a return on equity of 3.17%.
Assets
| Line | Amount |
|---|---|
| Cash & Cash Equivalents | $5,462,000,000 |
| Accounts & Notes Receivable, Net | $4,975,000,000 |
| Inventory | $2,209,000,000 |
| Total Current Assets | $15,792,000,000 |
| Plant, Property & Equipment, Net | $1,570,000,000 |
| Goodwill Intangible Assets, Net | $7,395,000,000 |
| Deferred Tax Asset | $6,028,000,000 |
| Total Assets | $37,597,000,000 |
Liabilities and equity
| Line | Amount |
|---|---|
| Total Short-term Debt | $1,084,000,000 |
| Other Current Liabilities | $2,738,000,000 |
| Total Current Liabilities | $10,004,000,000 |
| Long-term Debt | $3,413,000,000 |
| Minority Interest | $91,000,000 |
| Other Liabilities | $147,000,000 |
| Total Liabilities | $16,539,000,000 |
| Retained Earnings | $1,857,000,000 |
| Total Stockholders Equity | $20,967,000,000 |
| Total Liability & Stockholders Equity | $37,597,000,000 |
Figures as filed with the SEC for the period ended 31 December 2025, in US dollars.
FundSpec fundamental metrics
Each metric is computed from the company's filings and ranked against every company FundSpec covers; the percentile is the share of covered companies with a lower value.
Liquidity
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Cash Ratio | 0.55 | 63rd | Calculated as the ratio of Cash and cash equivalents / Current liabilities. This metric calculates the company's ability to repay its short-term debt |
| Current Ratio | 1.58 | 60th | Calculated as the ratio of Current Assets / Current Liabilities. The higher the current ratio, the more capable the company is of paying its obligations |
| Quick Ratio | 1.04 | 59th | Calculated as the ratio of (Cash + Marketable Securities + Accounts Receivable) / Current Liabilities. The quick ratio is a measure of how well a company can meet its short-term financial liabilities. |
Leverage
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Debt/Assets | 0.12 | 59th | Calculated as the ratio of Short-Term Debt + Long-Term Debt / Total Assets. The higher the ratio, the higher the degree of leverage, and consequently, financial risk |
| Debt/Equity | 0.21 | 50th | Calculated as the ratio of Total Liabilities / Shareholders' Equity. The ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity |
| Degree of Combined Leverage | -21.91 | 6th | This ratio summarizes the combined effect that the degree of operating leverage (DOL) and the degree of financial leverage have on earnings per share (EPS), given a particular change in sales |
| Degree of Financial Leverage | 1.38 | 81st | Calculated as the ratio of Percentage change in EPS / Percentage change in EBIT. A higher degree of financial leverage means that the company has more volatile EPS. |
| Degree of Operational Leverage | -15.82 | 6th | Calculated as the ratio of Percentage change in EBIT / Percentage change in revenue. It is a measure of how earnings for the company is impacted by its sales activity. |
| Long Term Debt/Long Term Capital | 0.14 | 24th | Calculated as Long-Term Debt / (Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
| Long Term Debt/Total Capital | 0.13 | 22nd | Calculated as (Short-Term Debt + Long-Term Debt / (Short-Term Debt + Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
Profitability
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Gross Margin Pct | 43.5% | 55th | Calculated as the ratio of Revenue - Cost of Goods Sold (COGS) / Revenue. The gross margin represents the percent of total sales revenue that the company retains after incurring the direct costs associated with producing the goods and services sold by a company. |
| Operating Margin Pct | 4.4% | 52nd | Calculated as the ratio of (Revenue - (Cost of Goods Sold + Labour + Sales, General & Administrative)) / Revenue. Operating margins are important because they measure efficiency. The higher the operating margin, the more profitable a company's core business is. |
| Operating Profit Pct Growth | -55.1% | 11th | The Operating Profit growth rate over the trailing twelve months (TTM) |
| Operating Profit Pct Growth 3 year CAGR (FY) | -27.3% | 20th | The Operating Profit compound annual growth rate (CAGR) over the past 3 years |
| Operating Profit Pct Growth 5 year CAGR (FY) | 0.0% | 46th | The Operating Profit compound annual growth rate (CAGR) over the past 5 years |
| PreTax Margin Pct | 4.7% | 52nd | Calculated as the ratio of (Gross profit - (Operating Expense + Interest Expense)) / Revenue. The pretax profit margin enables profitability to be compared across companies with significant differences in size, scale, capital structure and tax rates. |
| Return on Assets Pct | 1.7% | 63rd | Calculated as the ratio of Net Income / Total Assets. It is an indicator of how efficient the company is at using its assets to generate earnings. |
| Return on Equity Pct | 3.2% | 50th | Calculated as the ratio of Net Income / Shareholders' equity. It is a measure of how much profit a company generates with the money shareholders have invested. |
| Return on Invested Capital Pct | 2.4% | 47th | Calculated as the ratio of (Net Income - Dividends) / (Debt + Equity). It is a measure of how efficient the company is at allocating the capital under its control to profitable investments. |
Earnings Growth (Net Income)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Net Income Pct Growth | -48.6% | 17th | The Net Income growth rate over the trailing twelve months (TTM) |
| Net Income Pct Growth 3 year CAGR | -46.3% | 13th | The Net Income compound annual growth rate (CAGR) over the past 3 years |
Cashflow
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Operating Cashflow Pct Growth | -16.9% | 29th | The Operating Cashflow growth rate over the trailing twelve months (TTM) |
| Operating Cashflow Pct Growth 3 year CAGR (FY) | 12.0% | 62nd | The Operating Cashflow compound annual growth rate (CAGR) over the past 3 years |
| Operating Cashflow Pct Growth 5 year CAGR (FY) | 3.3% | 51st | The Operating Cashflow compound annual growth rate (CAGR) over the past 5 years |
Top Line Growth
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Revenue Pct Growth | 3.5% | 42nd | The Revenue (Sales) growth rate over the trailing twelve months (TTM) |
| Revenue Pct Growth 3 year CAGR | -5.8% | 22nd | The Revenue (Sales) compound annual growth rate (CAGR) over the past 3 years |
| Revenue Pct Growth 5 year CAGR | -1.9% | 20th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 5 years |
Taxes
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Effective Tax Rate Pct | 30.3% | 89th | The effective tax rate of the company over the trailing twelve months (TTM). |
Margins and returns say how much of each dollar of sales becomes profit and how hard the balance sheet is working; leverage and liquidity say how much room the company has when conditions turn. Read the guide: A practical guide to discounted cash flow valuation.
Fair value, peer multiples and the full statement history are in the app: open NOK in FundSpec.
SEC filings
The latest filing is a 20-F from 5 March 2026.
| Filed | Form | Document |
|---|---|---|
| 5 Mar 2026 | 20-F | View on sec.gov |
| 13 Mar 2025 | 20-F | View on sec.gov |
| 29 Feb 2024 | 20-F | View on sec.gov |
| 2 Mar 2023 | 20-F | View on sec.gov |
| 3 Mar 2022 | 20-F | View on sec.gov |
| 4 Mar 2021 | 20-F | View on sec.gov |
| 5 Mar 2020 | 20-F | View on sec.gov |
| 21 Mar 2019 | 20-F | View on sec.gov |
| 22 Mar 2018 | 20-F | View on sec.gov |
| 23 Mar 2017 | 20-F | View on sec.gov |
Company profile
- Exchange
- NYSE
- Sector
- Electronics and Semiconductors
- Industry
- Electronic Equipment
- Headquarters
- Espoo, Finland
- Chief executive
- Pekka I. Lundmark
- Employees
- 87,900
- Website
- nokia.com
- SEC CIK
- 0000924613
Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G.
Sector and peers
Nokia Corp. is part of the Electronics and Semiconductors sector, which FundSpec tracks across 226 companies.
Companies in the same industry by market capitalization:
TSM Taiwan Semiconductor Manufacturing Co. Ltd.GE General Electric Co.APH Amphenol Corp. /De/SONY Sony Group CorpASX ASE Technology Holding Co., Ltd.EMR Emerson Electric Co.BE Bloom Energy CorpUMC United Microelectronics Corp.
Put two of them side by side in Compare.
In FundSpec: the fair value estimate, the momentum reading, relative valuation against sector and industry peers, unusual options activity and AI model signals for NOK are available to subscribers, with the same screen in the iOS and Android apps.
Open NOK in FundSpec