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NOK · NYSE · United States · Radio & Tv Broadcasting & Communications Equipment
In shortNOKIA CORP is profitable, generates cash and holds more cash than debt, with revenue growing (+3.5% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 4.4% | 31/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 3.3% | 33/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 3.1% | 16/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 2.5% | 17/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.58× | 65/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.16× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 3.60× | 20/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 2.66 | 40/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 10.4% | 62/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 3.18× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 8.0% | 82/100 |
| Operating margin volatility | 2.4% | 88/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -5.8% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | -45.7% | 0/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
EUR millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 22,202 | 23,761 | 21,138 | 19,220 | 19,889 |
| Cost of revenue | 13,368 | 13,660 | 12,592 | 10,356 | 11,230 |
| Gross profit | 8,834 | 10,101 | 8,546 | 8,864 | 8,659 |
| Research & development | 4,214 | 4,503 | 4,277 | 4,512 | 4,855 |
| Selling, general & admin | 2,792 | 2,956 | 2,863 | 2,872 | 3,073 |
| Operating income | 2,158 | 2,299 | 1,733 | 1,970 | 885 |
| Interest expense | 310 | 282 | 579 | 320 | 246 |
| Pre-tax income | 1,926 | 2,169 | 1,469 | 2,091 | 915 |
| Income tax | 272 | (2,033) | 820 | 380 | 277 |
| Net income | 1,623 | 4,250 | 665 | 1,277 | 651 |
| Diluted EPS | €0.29 | €0.75 | €0.12 | €0.23 | €0.12 |
| Diluted shares (millions) | 5,684 | 5,670 | 5,586 | 5,531 | 5,503 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
2.66 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Mar 5, 2026