Nokia Corp
Research Nokia Corp (NOK) on Bullrun: valuation model: 23.2% overvalued, market cap USD 55.43B, P/E 68.4. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerNOK
- ExchangeNYSE
- CountryFinland
- SectorTechnology
- IndustryCommunication Equipment
- CurrencyUSD
- Valuation signal23.2% overvalued
- Market capUSD 55.43B
- P/E68.4
- Financial periodQ2 2026
- RevenueEUR 4.82B
- Net incomeEUR 2.00M
- Free cash flow-EUR 749.00M
- Gross margin44.6%
Valuation Snapshot
Bullrun's latest valuation model marks Nokia Corp as 23.2% overvalued; latest market cap is USD 55.43B; P/E is 68.4.
Peer valuation comparison
Latest P/E is 68.37x versus a Technology sector median of 28.78x (137.5% above).
Latest P/E is 68.37x versus a Finland median of 17.71x (285.9% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | EUR 19.89B | EUR 651.00M | EUR 1.47B | 43.5% | 0.12 | EUR 5.46B | EUR 4.41B | EUR 20.97B |
| FY2024 | EUR 19.22B | EUR 1.28B | EUR 2.02B | 46.1% | 0.23 | EUR 6.62B | EUR 4.75B | EUR 20.66B |
| FY2023 | EUR 21.14B | EUR 665.00M | EUR 665.00M | 40.4% | 0.12 | EUR 6.23B | EUR 5.19B | EUR 20.54B |
| FY2022 | EUR 23.76B | EUR 4.25B | EUR 873.00M | 42.5% | 0.75 | EUR 5.47B | EUR 5.52B | EUR 21.33B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-12 | USD 55.43B | 68.4 | n/a | n/a |
| 2025 | 2025-12-31 | USD 36.12B | 49.8 | 1.5% | 0.1 |
| 2024 | 2024-12-31 | USD 23.80B | 18.5 | 2.9% | 0.13 |
| 2023 | 2023-12-29 | USD 18.94B | 4.8 | 5.3% | 0.18 |
| 2022 | 2022-12-30 | USD 26.13B | 13.6 | 0.9% | 0.04 |
| 2021 | 2021-12-31 | USD 35.05B | 18.8 | n/a | n/a |
Dividend history
| Year | Dividends/share |
|---|---|
| FY2025 | 0.1 EUR |
| FY2024 | 0.13 EUR |
| FY2023 | 0.18 EUR |
| FY2022 | 0.04 EUR |
About Nokia Corp
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;
ETFs that hold Nokia Corp
Nokia Corp is one of the ten largest holdings of 24 ETFs that investors in Europe can buy. The 8 most traded of them:
| ETF | Weight | TER |
|---|---|---|
| iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Acc) | 2.40% | 0.25% |
| Amundi MSCI EMU ESG Selection - UCITS ETF DR - EUR (C) | 5.23% | 0.25% |
| Amundi MSCI Europe ESG Selection UCITS ETF Acc | 4.39% | 0.20% |
| Amundi MSCI Nordic UCITS ETF-C | 3.23% | 0.25% |
| iShares MSCI Europe Information Technology Sector UCITS ETF | 6.17% | 0.18% |
| Amundi MSCI Europe SRI Climate Paris Aligned - UCITS ETF DR (C) | 3.58% | 0.18% |
| State Street SPDR MSCI Europe Technology UCITS ETF | 5.94% | 0.18% |
| Xtrackers MSCI Nordic UCITS ETF 1D | 4.41% | 0.30% |
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Frequently asked questions
Is Nokia Corp overvalued or undervalued?
Bullrun's valuation model currently marks Nokia Corp as 23.2% overvalued.
What is Nokia Corp's market cap?
Nokia Corp's market capitalization is USD 55.43B.
What is Nokia Corp's P/E ratio?
Nokia Corp's price-to-earnings (P/E) ratio is 68.4.
What does Nokia Corp do?
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.