Nokia Oyj (NOK) is listed on NYSE and operates in the Communication Equipment industry (Technology sector).
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 Oy...
| Rating | Analysts |
|---|---|
| Strong Buy | 0 |
| Buy | 32 |
| Hold | 15 |
| Sell | 5 |
| Strong Sell | 0 |
Nokia Oyj, headquartered in Espoo, Finland, offers a range of network solutions globally. The company operates through four main segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It provides mobile and fixed network solutions, including radio access networks supporting 2G to 5G technologies and microwave radio links for transport networks. Nokia also offers fixed networking solutions with fiber and copper-based access infrastructure, cloud and virtualization services, and a wi-fi portfolio. Its IP routing solutions cater to residential, business, mobile, and industrial services, while its optical networks portfolio includes coherent optical transponders and optical transport network switchers for various applications. Additionally, Nokia provides submarine networks, business applications software, cloud and cognitive services, and core networks software. The company also engages in licensing intellectual property, including patents and the Nokia brand. Its clientele includes communications service providers, webscales, hyperscalers, digital industries, and government entities. Founded in 1865, Nokia continues to be a significant player in the communication equipment industry.
Over the past three fiscal years, the company experienced a consistent decline in revenue, with a compound annual growth rate (CAGR) of -4.9%, decreasing from €21.1 billion in 2023 to €19.1 billion in 2025. Despite this revenue contraction, the company managed to improve its profitability metrics. The gross margin saw a slight increase of 1.0 percentage points, reaching 42.1% by 2025, while the operating margin improved by 0.4 percentage points to 8.3%. Net margin remained relatively stable, ending at 3.2%. Cash generation showed a positive trajectory, with operating cash flow (OCF) growing at a robust CAGR of 22.9%, from €1.3 billion in 2023 to nearly €2.0 billion in 2025. Free cash flow (FCF) also saw significant growth, with a CAGR of 45.5%, reaching €1.4 billion by 2025, and the FCF margin expanded by 4.2 percentage points to 7.4%. The company's cash conversion ratio (CCR) improved consistently, indicating strong earnings quality, with a latest value of 3.29. Additionally, the company maintained a net cash position, with net debt decreasing from -€1.0 billion to -€0.25 billion over the period. The share count remained relatively stable, with a minor reduction of 1.5%, which slightly enhanced per-share value metrics. Overall, the company demonstrated resilience in profitability and cash generation despite facing revenue headwinds.
Nokia's recent developments have been dominated by anticipation around its upcoming Q1 earnings report, scheduled for April 21, 2026. The company's stock has seen a notable rise, closing at $10 with a trading volume significantly above its three-month average, driven by strong demand in AI networking. This momentum is further supported by a recent upgrade from Bank of America, which shifted its rating from neutral to buy, highlighting Nokia's strengths in optical and AI networking. The stock surged 7.7% following this upgrade. Additionally, Nokia has entered a strategic partnership with Cinia to enhance Finland's critical infrastructure with advanced DDoS protection, leveraging Nokia's network-embedded detection capabilities. On the operational front, Nokia has adjusted its share holdings to fulfill commitments related to its incentive plans, now holding 133,328,622 own shares. These developments underscore Nokia's strategic focus on AI and cybersecurity, positioning it for potential growth in these sectors.