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Also traded in: Argentina, Finland, France, Germany, Italy, Mexico, Netherlands, Sweden, Switzerland, UK, USA

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 2.47
NOK's Cash to Debt is ranked higher than
52% of the 538 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.07 vs. NOK: 2.47 )
Ranked among companies with meaningful Cash to Debt only.
NOK' s Cash to Debt Range Over the Past 10 Years
Min: 1.24  Med: 3.74 Max: No Debt
Current: 2.47
Equity to Asset 0.43
NOK's Equity to Asset is ranked lower than
72% of the 529 Companies
in the Global Communication Equipment industry.

( Industry Median: 0.59 vs. NOK: 0.43 )
Ranked among companies with meaningful Equity to Asset only.
NOK' s Equity to Asset Range Over the Past 10 Years
Min: 0.26  Med: 0.47 Max: 0.63
Current: 0.43
0.26
0.63
F-Score: 3
Z-Score: 1.33
M-Score: -1.36
WACC vs ROIC
8.91%
-3.94%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 3/10

vs
industry
vs
history
Operating margin (%) -3.76
NOK's Operating margin (%) is ranked lower than
72% of the 531 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.91 vs. NOK: -3.76 )
Ranked among companies with meaningful Operating margin (%) only.
NOK' s Operating margin (%) Range Over the Past 10 Years
Min: -8.69  Med: 7.75 Max: 15.64
Current: -3.76
-8.69
15.64
Net-margin (%) 2.37
NOK's Net-margin (%) is ranked higher than
50% of the 533 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.37 vs. NOK: 2.37 )
Ranked among companies with meaningful Net-margin (%) only.
NOK' s Net-margin (%) Range Over the Past 10 Years
Min: -20.16  Med: 6.11 Max: 29.43
Current: 2.37
-20.16
29.43
ROE (%) 3.13
NOK's ROE (%) is ranked lower than
52% of the 523 Companies
in the Global Communication Equipment industry.

( Industry Median: 3.78 vs. NOK: 3.13 )
Ranked among companies with meaningful ROE (%) only.
NOK' s ROE (%) Range Over the Past 10 Years
Min: -31.35  Med: 19.64 Max: 53.84
Current: 3.13
-31.35
53.84
ROA (%) 1.37
NOK's ROA (%) is ranked lower than
54% of the 541 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.03 vs. NOK: 1.37 )
Ranked among companies with meaningful ROA (%) only.
NOK' s ROA (%) Range Over the Past 10 Years
Min: -9.38  Med: 7.64 Max: 23.91
Current: 1.37
-9.38
23.91
ROC (Joel Greenblatt) (%) -53.33
NOK's ROC (Joel Greenblatt) (%) is ranked lower than
85% of the 535 Companies
in the Global Communication Equipment industry.

( Industry Median: 9.20 vs. NOK: -53.33 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
NOK' s ROC (Joel Greenblatt) (%) Range Over the Past 10 Years
Min: -67.51  Med: 152.44 Max: 452.75
Current: -53.33
-67.51
452.75
Revenue Growth (3Y)(%) -8.60
NOK's Revenue Growth (3Y)(%) is ranked lower than
71% of the 466 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.90 vs. NOK: -8.60 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
NOK' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: -34.7  Med: 3.1 Max: 48.4
Current: -8.6
-34.7
48.4
EBITDA Growth (3Y)(%) 65.30
NOK's EBITDA Growth (3Y)(%) is ranked higher than
93% of the 350 Companies
in the Global Communication Equipment industry.

( Industry Median: 5.60 vs. NOK: 65.30 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
NOK' s EBITDA Growth (3Y)(%) Range Over the Past 10 Years
Min: -64.6  Med: 10.2 Max: 80.1
Current: 65.3
-64.6
80.1
GuruFocus has detected 2 Warning Signs with Nokia Oyj $NOK.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» NOK's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow
Oprt. Cash Flow & Net Income

» Details

Guru Trades

Q1 2016

NOK Guru Trades in Q1 2016

Joel Greenblatt 23,923 sh (+62.09%)
John Rogers 11,576,295 sh (+44.75%)
Jeff Auxier 13,117 sh (+0.05%)
Francis Chou 3,750,000 sh (unchged)
Jim Simons 15,775,380 sh (-7.37%)
Ken Fisher 12,268 sh (-18.78%)
» More
Q2 2016

NOK Guru Trades in Q2 2016

Charles Brandes 9,698,050 sh (New)
John Rogers 17,011,488 sh (+46.95%)
Jim Simons 16,832,300 sh (+6.70%)
Francis Chou 3,750,000 sh (unchged)
Jeff Auxier 13,117 sh (unchged)
Joel Greenblatt Sold Out
Ken Fisher 11,974 sh (-2.40%)
» More
Q3 2016

NOK Guru Trades in Q3 2016

John Rogers 20,784,782 sh (+22.18%)
Jim Simons 17,211,975 sh (+2.26%)
Francis Chou 3,750,000 sh (unchged)
Jeff Auxier 13,117 sh (unchged)
Charles Brandes 9,688,684 sh (-0.10%)
Ken Fisher 10,999 sh (-8.14%)
» More
Q4 2016

NOK Guru Trades in Q4 2016

Ken Fisher 20,726 sh (+88.44%)
» More
» Details

Insider Trades

Latest Guru Trades with NOK

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Business Description

Industry: Communication Equipment » Communication Equipment    NAICS: 334290 
Compare:NAS:ERIC, NYSE:HPE, NYSE:MSI, NYSE:HRS, OTCPK:AACAF, NYSE:JNPR, NYSE:ZAYO, NAS:COMM, OTCPK:ZTCOF, NAS:ARRS, OTCPK:PRYMY, NAS:SATS, NAS:UBNT, OTCPK:ETCMY, NAS:BBRY, NAS:VSAT, NYSE:CIEN, OTCPK:VTKLY, NAS:FNSR, OTCPK:FXCNF » details
Traded in other countries:NOKA.Argentina, NOKIA.Finland, NOKIA.France, NOAA.Germany, NOKIA.Italy, NOK N.Mexico, NOKA.Netherlands, NOKIA SEK.Sweden, NOKIA.Switzerland, 0HAF.UK, NOKBF.USA,
Nokia Oyj is a mobile communications company. The Company has three business: Networks, HERE, and Technologies and four business segments: mobile Broadband and Global Services within Networks, HERE, and Technologies.

Nokia Oyj was incorporated in Helsinki. Nokia Oyj is a mobile communications company. The Company had two main businesses (Nokia Networks and Nokia Technologies) following the Sale of the HERE Business. It has three operating and reportable segments: Mobile Broadband and Global Services (both within Nokia Networks), and Nokia Technologies. Its geographical areas include Europe, Middle East & Africa, China, Asia Pacific, North America and Latin america.The Company competes with Cisco, Ericsson, Huawei and ZTE. It also competes with technology-focused companies such as Adtran (fixed access networks), Ciena (optical network equipment) and Juniper (routing). Additionally, it consider Amdocs, IBM, Oracle and other IT companies as its competitors in the Applications & Analytics domain.

Guru Investment Theses on Nokia Oyj

Brandes Funds Comments on Nokia - Aug 24, 2016

Nokia (NYSE:NOK) has evolved quite significantly over the past few years, divesting several businesses while integrating and acquiring others in an effort to improve its scale and competitive positioning. Historically known as a mobile phone manufacturer, Nokia sold this business to Microsoft for $7.2 billion in 2013. The company also sold its HERE mapping business to a consortium of German carmakers for € 2.55 billion in 2015.



Nokia largely retained its mobile technology patents after selling off its phone business. As a result, the company now has a patent/technology licensing business which has generated close to $1 billion/year in high-margin revenue. The company is also working to license non-essential patents.



Nokia acquired Siemens’ stake in Nokia Siemens Networks in 2013 and management did a good job restructuring the business and restored profitability to an industry-leading level. More recently, Nokia acquired Alcatel-Lucent. These acquisitions resulted in a market consolidation for wireless infrastructure, with Ericsson, Huawei and Nokia as the top three vendors.



Additionally, the moves have a number of potential benefits for Nokia, including:



  • Improve Nokia’s scale and positioning in the network infrastructure market: The acquisitions of NSN and Alcatel-Lucent help improve the combined company’s scale and strengthen its internet-protocol and software-defined-networking portfolios.

  • The new Nokia has a fully converged networking solution:

This means the company can now offer carriers a full end-to-end networking solution.



  • Restructuring and synergy potential: The two acquisitions have led to significant synergies for Nokia, including a reduction of over $1 billion in annual operating expenses.

Many investors have been concerned about the current demand environment for wireless infrastructure. The wireless network market has seen flat overall spending for five years, with the exception of the interest generated during the deployment of long-term evolution (LTE, used for high-speed wireless communications for mobile phones and data terminals) across developed markets and Asia. Moreover, the outlook for the next few years for wireless infrastructure is poor, with China’s LTE spending having peaked.



In addition to these industry-wide challenges, Nokia’s share price has also been affected by worries over merger-integration risk. Nevertheless, in our view the risks are outweighed by the company’s positive attributes, which include:



  • Its solid competitive position driven by growing long-term demand for wireless networking equipment

  • A good track record of portfolio streamlining and operational rigor over the past five years

  • A strong balance sheet and capital-usage plan.

From Brandes Global Equity Fund second quarter 2016 commentary.



Check out Charles Brandes latest stock trades

Top Ranked Articles about Nokia Oyj

Brandes Funds Comments on Nokia Guru stock highlight
Nokia (NYSE:NOK) has evolved quite significantly over the past few years, divesting several businesses while integrating and acquiring others in an effort to improve its scale and competitive positioning. Historically known as a mobile phone manufacturer, Nokia sold this business to Microsoft for $7.2 billion in 2013. The company also sold its HERE mapping business to a consortium of German carmakers for € 2.55 billion in 2015. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 20.22
NOK's P/E(ttm) is ranked higher than
57% of the 337 Companies
in the Global Communication Equipment industry.

( Industry Median: 23.54 vs. NOK: 20.22 )
Ranked among companies with meaningful P/E(ttm) only.
NOK' s P/E(ttm) Range Over the Past 10 Years
Min: 5.9  Med: 14.53 Max: 66.75
Current: 20.22
5.9
66.75
Forward P/E 17.89
NOK's Forward P/E is ranked lower than
54% of the 63 Companies
in the Global Communication Equipment industry.

( Industry Median: 16.67 vs. NOK: 17.89 )
Ranked among companies with meaningful Forward P/E only.
N/A
P/B 1.41
NOK's P/B is ranked higher than
63% of the 517 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.73 vs. NOK: 1.41 )
Ranked among companies with meaningful P/B only.
NOK' s P/B Range Over the Past 10 Years
Min: 0.58  Med: 2.65 Max: 8.34
Current: 1.41
0.58
8.34
P/S 1.14
NOK's P/S is ranked higher than
55% of the 528 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.38 vs. NOK: 1.14 )
Ranked among companies with meaningful P/S only.
NOK' s P/S Range Over the Past 10 Years
Min: 0.31  Med: 1.58 Max: 15.8
Current: 1.14
0.31
15.8
EV-to-EBITDA 49.29
NOK's EV-to-EBITDA is ranked lower than
85% of the 370 Companies
in the Global Communication Equipment industry.

( Industry Median: 13.55 vs. NOK: 49.29 )
Ranked among companies with meaningful EV-to-EBITDA only.
NOK' s EV-to-EBITDA Range Over the Past 10 Years
Min: -9.9  Med: 11.15 Max: 62
Current: 49.29
-9.9
62
Shiller P/E 9.51
NOK's Shiller P/E is ranked higher than
87% of the 94 Companies
in the Global Communication Equipment industry.

( Industry Median: 31.74 vs. NOK: 9.51 )
Ranked among companies with meaningful Shiller P/E only.
NOK' s Shiller P/E Range Over the Past 10 Years
Min: 1.87  Med: 9.82 Max: 32.52
Current: 9.51
1.87
32.52
Current Ratio 1.63
NOK's Current Ratio is ranked lower than
67% of the 531 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.08 vs. NOK: 1.63 )
Ranked among companies with meaningful Current Ratio only.
NOK' s Current Ratio Range Over the Past 10 Years
Min: 1.14  Med: 1.63 Max: 2.48
Current: 1.63
1.14
2.48
Quick Ratio 1.42
NOK's Quick Ratio is ranked lower than
57% of the 531 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.63 vs. NOK: 1.42 )
Ranked among companies with meaningful Quick Ratio only.
NOK' s Quick Ratio Range Over the Past 10 Years
Min: 1  Med: 1.4 Max: 2.32
Current: 1.42
1
2.32
Days Inventory 57.89
NOK's Days Inventory is ranked higher than
61% of the 504 Companies
in the Global Communication Equipment industry.

( Industry Median: 70.29 vs. NOK: 57.89 )
Ranked among companies with meaningful Days Inventory only.
NOK' s Days Inventory Range Over the Past 10 Years
Min: 21.19  Med: 42.5 Max: 85.1
Current: 57.89
21.19
85.1
Days Sales Outstanding 114.12
NOK's Days Sales Outstanding is ranked lower than
77% of the 469 Companies
in the Global Communication Equipment industry.

( Industry Median: 71.51 vs. NOK: 114.12 )
Ranked among companies with meaningful Days Sales Outstanding only.
NOK' s Days Sales Outstanding Range Over the Past 10 Years
Min: 52.26  Med: 84.98 Max: 164.14
Current: 114.12
52.26
164.14
Days Payable 94.25
NOK's Days Payable is ranked higher than
75% of the 432 Companies
in the Global Communication Equipment industry.

( Industry Median: 58.11 vs. NOK: 94.25 )
Ranked among companies with meaningful Days Payable only.
NOK' s Days Payable Range Over the Past 10 Years
Min: 49.1  Med: 85.25 Max: 194
Current: 94.25
49.1
194

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 6.16
NOK's Dividend Yield is ranked higher than
86% of the 408 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.55 vs. NOK: 6.16 )
Ranked among companies with meaningful Dividend Yield only.
NOK' s Dividend Yield Range Over the Past 10 Years
Min: 1.45  Med: 3.85 Max: 18.35
Current: 6.16
1.45
18.35
Dividend Growth (3y) -11.20
NOK's Dividend Growth (3y) is ranked lower than
61% of the 192 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.10 vs. NOK: -11.20 )
Ranked among companies with meaningful Dividend Growth (3y) only.
NOK' s Dividend Growth (3y) Range Over the Past 10 Years
Min: -100  Med: -2.4 Max: 23.3
Current: -11.2
-100
23.3
Forward Dividend Yield 6.11
NOK's Forward Dividend Yield is ranked higher than
85% of the 363 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.83 vs. NOK: 6.11 )
Ranked among companies with meaningful Forward Dividend Yield only.
N/A
Yield on cost (5-Year) 6.16
NOK's Yield on cost (5-Year) is ranked higher than
78% of the 519 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.65 vs. NOK: 6.16 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
NOK' s Yield on cost (5-Year) Range Over the Past 10 Years
Min: 1.45  Med: 3.85 Max: 18.35
Current: 6.16
1.45
18.35
3-Year Average Share Buyback Ratio -2.20
NOK's 3-Year Average Share Buyback Ratio is ranked higher than
50% of the 331 Companies
in the Global Communication Equipment industry.

( Industry Median: -2.20 vs. NOK: -2.20 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
NOK' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -2.2  Med: 0.7 Max: 5.3
Current: -2.2
-2.2
5.3

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 3.28
NOK's Price/Tangible Book is ranked lower than
61% of the 491 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.12 vs. NOK: 3.28 )
Ranked among companies with meaningful Price/Tangible Book only.
NOK' s Price/Tangible Book Range Over the Past 10 Years
Min: 1.99  Med: 5.32 Max: 40.18
Current: 3.28
1.99
40.18
Price/Projected FCF 1.47
NOK's Price/Projected FCF is ranked lower than
54% of the 290 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.34 vs. NOK: 1.47 )
Ranked among companies with meaningful Price/Projected FCF only.
NOK' s Price/Projected FCF Range Over the Past 10 Years
Min: 0.16  Med: 1.09 Max: 19.55
Current: 1.47
0.16
19.55
Price/Median PS Value 0.73
NOK's Price/Median PS Value is ranked higher than
84% of the 465 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.14 vs. NOK: 0.73 )
Ranked among companies with meaningful Price/Median PS Value only.
NOK' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.24  Med: 1.17 Max: 7.44
Current: 0.73
0.24
7.44
Earnings Yield (Greenblatt) (%) -3.76
NOK's Earnings Yield (Greenblatt) (%) is ranked lower than
76% of the 531 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.10 vs. NOK: -3.76 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
NOK' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: -3.76  Med: 8.6 Max: 19.8
Current: -3.76
-3.76
19.8
Forward Rate of Return (Yacktman) (%) -13.45
NOK's Forward Rate of Return (Yacktman) (%) is ranked lower than
84% of the 240 Companies
in the Global Communication Equipment industry.

( Industry Median: 7.68 vs. NOK: -13.45 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
NOK' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: -15.7  Med: 12.7 Max: 48.6
Current: -13.45
-15.7
48.6

More Statistics

Revenue (TTM) (Mil) $22,939
EPS (TTM) $ 0.23
Beta1.10
Short Percentage of Float0.59%
52-Week Range $4.04 - 7.31
Shares Outstanding (Mil)5,836.06

Analyst Estimate

Dec16 Dec17 Dec18
Revenue (Mil $) 25,626 25,217 24,765
EPS ($) 0.21 0.27 0.33
EPS w/o NRI ($) 0.21 0.27 0.33
EPS Growth Rate
(3Y to 5Y Estimate)
7.14%
Dividends Per Share ($) 0.14 0.14
» More Articles for NOK

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New Nokia 8 Flagship Leak Reveals Stunning Technology Jan 12 2017
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Will Nokia’s Patent Lawsuit Overshadow Apple’s iPhone 8 Launch? Jan 10 2017
Nokia's Challenge To Microsoft, Google and Apple Jan 10 2017
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Is the Apple-Nokia Patent Dispute Turning Ugly? Jan 09 2017
Will Apple Survive Nokia’s New Patent Lawsuit? Jan 09 2017
Nokia's Smartphone Comeback Well-Timed, but Could Be Last Chance Jan 09 2017
First Nokia-HMD Smartphone Coming to China Only Jan 09 2017
HMD Global Unveils First Nokia-Branded Smartphone in Three Years Jan 09 2017
HMD Global launches first Nokia smartphone Jan 08 2017
HMD Global launches first Nokia smartphone Jan 08 2017
HMD Global launches first Nokia smartphone Jan 07 2017
HMD Global launches first Nokia smartphone Jan 07 2017
HMD Global launches first Nokia smartphone Jan 07 2017
01/06/2017 Contract of NOK 11 million Jan 06 2017

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