About NOKIA CORP
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, and microwave radio links for transport networks. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, and cloud and virtualization services, as well as wi-fi portfolio, including mesh solutions and cloud-based controllers; IP routing solutions for IP aggregation, and edge and core applications for residential, business, mobile, and industrial services; a portfolio of optical networks comprising portfolio coherent optical transponders, optical transport network switchers, wavelength-division multiplexers, reconfigurable optical add-drop multiplexer solutions, and optical line systems for metro access and aggregation, data center interconnect, regional, and long-haul/ultra-long-haul applications; and submarine networks.
In addition, it offers business applications software, cloud and cognitive services, core networks software, and enterprise solutions. Further, the company provides hardware, software, and services, as well as licensing of intellectual property, including patents, technologies, and the Nokia brand. It serves communications service providers, webscales, hyperscalers, digital industries, and government. Nokia Oyj was founded in 1865 and is headquartered in Espoo, Finland.
NOK operates in the Manufacturing | Electronic Equipment | approximately 87,900 employees | led by CEO Pekka I. Lundmark.
$24.7 billion 18.5x P/E 1.4x P/B 12.0x EV/EBITDA 6.0% ROE -14.9% rev. growth 3.2% yield
NOKIA CORP earns a Buy rating from our quantitative model with a composite score of 73/100, ranking #35 among 7,333 U.S. stocks. The model sees a stock with an above-average factor profile — not without risks, but with enough quantitative support to warrant a constructive outlook.
The strongest dimension is value at 94/100, which places NOK in the top 6 percent of all stocks on this measure. quality at 83/100 provides secondary support. No single factor falls below the average threshold, which is a constructive sign.
Within the Manufacturing sector, NOK ranks 18th out of 50 peers, placing it in the 64th percentile. At $24.7 billion, the company is a well-established large cap.
Quality Analysis
NOKIA CORP's quality score of 83/100 places it among the top profitability performers in the market. The quality factor evaluates margins, return on equity, return on assets, and earnings consistency — the fundamental building blocks of a durable business.
Return on equity of 6.0% exceeds the sector median of -2.0%. Gross margins of 46.1% are competitive for the sector. Operating margins of 10.4% sit above the 3.0% sector average.
Net margins of 6.7% show the company is profitable, though not with exceptional efficiency.
Valuation Assessment
A value score of 94/100 puts NOK in the top 6 percent of all stocks on cheapness — suggesting the market is significantly underpricing the company's fundamentals. Key valuation metrics include a P/E ratio of 18.5x, an EV/EBITDA of 12.0x, a price-to-book of 1.4x, a price-to-sales of 1.2x. Deep value scores like this historically correlate with above-average forward returns, though they can also reflect legitimate concerns about business quality that the value factor does not capture.
Momentum & Timing
A momentum score of 70/100 shows NOK is trending above average, with its stock price outperforming the majority of the market. This is not explosive, meme-stock-style momentum — it is the gradual, fundamental-driven kind that tends to persist.
Revenue growth of -14.9% is declining, which makes the momentum signal more precarious. A beta of 0.56 means NOKIA CORP moves with less volatility than the market, which can be attractive for risk-conscious investors.
Our entry timing model currently signals Neutral, which warrants caution despite the price trend.
Risk Factors
No investment comes without risks, and honest analysis requires flagging them clearly:
- Model limitations. Quantitative models measure what is measurable — financial ratios, price trends, leverage — but cannot capture qualitative factors like management quality, competitive positioning, or pending litigation. This analysis should be supplemented with fundamental due diligence.
- Market regime risk. Factor-based strategies perform differently across market regimes. The current factor exposures that support NOKIA CORP's rating may become headwinds if the macro environment shifts — for example, if interest rates move sharply or if sector rotation accelerates.
Bottom Line
NOKIA CORP earns a Buy rating with a composite score of 73/100 and 4 out of 5 stars, ranking #35 among 7,333 stocks. The factor profile is constructive — not without blemishes, but with enough quantitative support to position NOK above the majority of the market.
Explore the full NOK analysis page for interactive factor breakdowns, or view the complete stock rankings.
Analysis is for informational purposes only and does not constitute investment advice. Always conduct your own research before making investment decisions.
