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Also traded in: Argentina, Austria, 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 2.28
NOK's Cash-to-Debt is ranked higher than
53% of the 564 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.98 vs. NOK: 2.28 )
Ranked among companies with meaningful Cash-to-Debt only.
NOK' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.64  Med: 2.64 Max: 50.41
Current: 2.28
0.64
50.41
Equity-to-Asset 0.39
NOK's Equity-to-Asset is ranked lower than
76% of the 556 Companies
in the Global Communication Equipment industry.

( Industry Median: 0.58 vs. NOK: 0.39 )
Ranked among companies with meaningful Equity-to-Asset only.
NOK' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.26  Med: 0.48 Max: 0.63
Current: 0.39
0.26
0.63
Debt-to-Equity 0.23
NOK's Debt-to-Equity is ranked higher than
57% of the 416 Companies
in the Global Communication Equipment industry.

( Industry Median: 0.29 vs. NOK: 0.23 )
Ranked among companies with meaningful Debt-to-Equity only.
NOK' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.02  Med: 0.22 Max: 1.03
Current: 0.23
0.02
1.03
Debt-to-EBITDA 8.95
NOK's Debt-to-EBITDA is ranked lower than
88% of the 339 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.23 vs. NOK: 8.95 )
Ranked among companies with meaningful Debt-to-EBITDA only.
NOK' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.68  Med: 3.16 Max: 235.38
Current: 8.95
0.68
235.38
Interest Coverage 0.04
NOK's Interest Coverage is ranked lower than
100% of the 421 Companies
in the Global Communication Equipment industry.

( Industry Median: 70.05 vs. NOK: 0.04 )
Ranked among companies with meaningful Interest Coverage only.
NOK' s Interest Coverage Range Over the Past 10 Years
Min: 0.03  Med: 4.52 Max: 2483
Current: 0.04
0.03
2483
Piotroski F-Score: 6
Altman Z-Score: 1.44
Beneish M-Score: -2.93
WACC vs ROIC
9.74%
-5.79%
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 : 6/10

vs
industry
vs
history
Operating Margin % 0.07
NOK's Operating Margin % is ranked lower than
65% of the 562 Companies
in the Global Communication Equipment industry.

( Industry Median: 3.34 vs. NOK: 0.07 )
Ranked among companies with meaningful Operating Margin % only.
NOK' s Operating Margin % Range Over the Past 10 Years
Min: -8.69  Med: 3.9 Max: 13.58
Current: 0.07
-8.69
13.58
Net Margin % -6.45
NOK's Net Margin % is ranked lower than
77% of the 563 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.92 vs. NOK: -6.45 )
Ranked among companies with meaningful Net Margin % only.
NOK' s Net Margin % Range Over the Past 10 Years
Min: -20.16  Med: -0.54 Max: 29.43
Current: -6.45
-20.16
29.43
ROE % -8.36
NOK's ROE % is ranked lower than
77% of the 548 Companies
in the Global Communication Equipment industry.

( Industry Median: 4.83 vs. NOK: -8.36 )
Ranked among companies with meaningful ROE % only.
NOK' s ROE % Range Over the Past 10 Years
Min: -31.35  Med: 0.76 Max: 45.92
Current: -8.36
-31.35
45.92
ROA % -3.49
NOK's ROA % is ranked lower than
72% of the 568 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.34 vs. NOK: -3.49 )
Ranked among companies with meaningful ROA % only.
NOK' s ROA % Range Over the Past 10 Years
Min: -9.38  Med: 0.07 Max: 14.97
Current: -3.49
-9.38
14.97
ROC (Joel Greenblatt) % 0.83
NOK's ROC (Joel Greenblatt) % is ranked lower than
65% of the 563 Companies
in the Global Communication Equipment industry.

( Industry Median: 10.34 vs. NOK: 0.83 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
NOK' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -78.62  Med: 60.13 Max: 239.26
Current: 0.83
-78.62
239.26
3-Year Revenue Growth Rate 12.90
NOK's 3-Year Revenue Growth Rate is ranked higher than
73% of the 506 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.90 vs. NOK: 12.90 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
NOK' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -34.7  Med: 8.3 Max: 48.4
Current: 12.9
-34.7
48.4
3-Year EBITDA Growth Rate -80.60
NOK's 3-Year EBITDA Growth Rate is ranked lower than
99% of the 385 Companies
in the Global Communication Equipment industry.

( Industry Median: 8.50 vs. NOK: -80.60 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
NOK' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -80.6  Med: 7.6 Max: 74.5
Current: -80.6
-80.6
74.5
GuruFocus has detected 1 Warning Sign 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 30-Y Financials

Financials (Next Earnings Date: 2018-04-27)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q1 2017

NOK Guru Trades in Q1 2017

John Rogers 32,372,988 sh (+21.15%)
Charles Brandes 11,469,670 sh (+6.67%)
Jeff Auxier 13,117 sh (unchged)
Francis Chou 2,750,000 sh (-26.67%)
Ken Fisher 12,065 sh (-41.79%)
Jim Simons 413,280 sh (-91.48%)
» More
Q2 2017

NOK Guru Trades in Q2 2017

Steven Cohen 486,600 sh (New)
Jim Simons 3,328,880 sh (+705.48%)
Ken Fisher 33,235 sh (+175.47%)
John Rogers 33,102,808 sh (+2.25%)
Jeff Auxier 13,117 sh (unchged)
Charles Brandes 11,442,603 sh (-0.24%)
Francis Chou 1,250,000 sh (-54.55%)
» More
Q3 2017

NOK Guru Trades in Q3 2017

Jim Simons 5,190,780 sh (+55.93%)
Jeff Auxier 13,117 sh (unchged)
John Rogers 32,811,545 sh (-0.88%)
Ken Fisher 30,653 sh (-7.77%)
Steven Cohen 351,300 sh (-27.81%)
Francis Chou 850,000 sh (-32.00%)
Charles Brandes 7,379,990 sh (-35.50%)
» More
Q4 2017

NOK Guru Trades in Q4 2017

Steven Cohen 1,386,081 sh (+294.56%)
Jim Simons 7,673,680 sh (+47.83%)
Charles Brandes 10,247,013 sh (+38.85%)
Ken Fisher 32,426 sh (+5.78%)
Jeff Auxier 13,117 sh (unchged)
Francis Chou 850,000 sh (unchged)
John Rogers 24,205,746 sh (-26.23%)
» More
» Details

Insider Trades

Business Description

Industry: Communication Equipment » Communication Equipment    NAICS: 334290 
Compare:NYSE:HPE, HKSE:02018, OSTO:ERIC B, SZSE:000063, NYSE:HRS, NYSE:MSI, NYSE:JNPR, NYSE:ZAYO, SHSE:600487, NAS:COMM, MIL:PRY, TSX:BB, SHSE:600485, NAS:UBNT, NAS:SATS, SHSE:600498, SZSE:300136, NAS:ARRS, XPAR:ETL, NAS:VSAT » details
Traded in other countries:NOKA.Argentina, NOKI.Austria, NOKIA.Finland, NOKIA.France, NOAA.Germany, NOKIA.Italy, NOK N.Mexico, NOKA.Netherlands, NOKIA SEK.Sweden, NOKIA.Switzerland, 0HAF.UK, NOKBF.USA,
Headquarter Location:Finland
Nokia Oyj is a telecommunication company. It develops network equipment to transmit data over wireless, copper, optical fiber, and microwave mediums. Its products are used by the world's largest telecommunication service providers.

Nokia is one of the largest providers of telecommunication equipment. The company develops network equipment to transmit data over wireless, copper, optical fiber, and microwave mediums, and its products are used by the world's largest telecommunication service providers. Nokia is headquartered in Espoo, Finland, and it employs more than 100,000 employees globally.

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

Ratios

vs
industry
vs
history
Forward PE Ratio 16.05
NOK's Forward PE Ratio is ranked higher than
62% of the 58 Companies
in the Global Communication Equipment industry.

( Industry Median: 16.84 vs. NOK: 16.05 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PB Ratio 1.61
NOK's PB Ratio is ranked higher than
60% of the 543 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.82 vs. NOK: 1.61 )
Ranked among companies with meaningful PB Ratio only.
NOK' s PB Ratio Range Over the Past 10 Years
Min: 0.58  Med: 2.51 Max: 8.34
Current: 1.61
0.58
8.34
PS Ratio 1.14
NOK's PS Ratio is ranked higher than
57% of the 548 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.36 vs. NOK: 1.14 )
Ranked among companies with meaningful PS Ratio only.
NOK' s PS Ratio Range Over the Past 10 Years
Min: 0.31  Med: 1.36 Max: 15.8
Current: 1.14
0.31
15.8
Price-to-Free-Cash-Flow 21.35
NOK's Price-to-Free-Cash-Flow is ranked lower than
51% of the 200 Companies
in the Global Communication Equipment industry.

( Industry Median: 19.31 vs. NOK: 21.35 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
NOK' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 3.26  Med: 17.29 Max: 213.57
Current: 21.35
3.26
213.57
Price-to-Operating-Cash-Flow 14.32
NOK's Price-to-Operating-Cash-Flow is ranked higher than
53% of the 258 Companies
in the Global Communication Equipment industry.

( Industry Median: 14.23 vs. NOK: 14.32 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
NOK' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 2.56  Med: 14.3 Max: 315.79
Current: 14.32
2.56
315.79
EV-to-EBIT 1244.79
NOK's EV-to-EBIT is ranked lower than
99% of the 372 Companies
in the Global Communication Equipment industry.

( Industry Median: 18.84 vs. NOK: 1244.79 )
Ranked among companies with meaningful EV-to-EBIT only.
NOK' s EV-to-EBIT Range Over the Past 10 Years
Min: -312.6  Med: 10.9 Max: 1256.19
Current: 1244.79
-312.6
1256.19
EV-to-EBITDA 50.25
NOK's EV-to-EBITDA is ranked lower than
87% of the 414 Companies
in the Global Communication Equipment industry.

( Industry Median: 14.44 vs. NOK: 50.25 )
Ranked among companies with meaningful EV-to-EBITDA only.
NOK' s EV-to-EBITDA Range Over the Past 10 Years
Min: -9.9  Med: 12.3 Max: 581.1
Current: 50.25
-9.9
581.1
EV-to-Revenue 0.92
NOK's EV-to-Revenue is ranked higher than
66% of the 554 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.39 vs. NOK: 0.92 )
Ranked among companies with meaningful EV-to-Revenue only.
NOK' s EV-to-Revenue Range Over the Past 10 Years
Min: 0.3  Med: 1.2 Max: 12.3
Current: 0.92
0.3
12.3
Shiller PE Ratio 23.20
NOK's Shiller PE Ratio is ranked higher than
66% of the 137 Companies
in the Global Communication Equipment industry.

( Industry Median: 33.22 vs. NOK: 23.20 )
Ranked among companies with meaningful Shiller PE Ratio only.
NOK' s Shiller PE Ratio Range Over the Past 10 Years
Min: 1.87  Med: 10.13 Max: 32.52
Current: 23.2
1.87
32.52
Current Ratio 1.55
NOK's Current Ratio is ranked lower than
67% of the 553 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.03 vs. NOK: 1.55 )
Ranked among companies with meaningful Current Ratio only.
NOK' s Current Ratio Range Over the Past 10 Years
Min: 1.2  Med: 1.64 Max: 2.48
Current: 1.55
1.2
2.48
Quick Ratio 1.34
NOK's Quick Ratio is ranked lower than
58% of the 552 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.54 vs. NOK: 1.34 )
Ranked among companies with meaningful Quick Ratio only.
NOK' s Quick Ratio Range Over the Past 10 Years
Min: 0.86  Med: 1.42 Max: 2.32
Current: 1.34
0.86
2.32
Days Inventory 73.11
NOK's Days Inventory is ranked higher than
53% of the 535 Companies
in the Global Communication Equipment industry.

( Industry Median: 76.67 vs. NOK: 73.11 )
Ranked among companies with meaningful Days Inventory only.
NOK' s Days Inventory Range Over the Past 10 Years
Min: 27.03  Med: 57.87 Max: 85.1
Current: 73.11
27.03
85.1
Days Sales Outstanding 108.48
NOK's Days Sales Outstanding is ranked lower than
74% of the 508 Companies
in the Global Communication Equipment industry.

( Industry Median: 73.07 vs. NOK: 108.48 )
Ranked among companies with meaningful Days Sales Outstanding only.
NOK' s Days Sales Outstanding Range Over the Past 10 Years
Min: 65.1  Med: 107.11 Max: 164.14
Current: 108.48
65.1
164.14
Days Payable 104.12
NOK's Days Payable is ranked higher than
77% of the 456 Companies
in the Global Communication Equipment industry.

( Industry Median: 62.09 vs. NOK: 104.12 )
Ranked among companies with meaningful Days Payable only.
NOK' s Days Payable Range Over the Past 10 Years
Min: 57.21  Med: 97.03 Max: 194
Current: 104.12
57.21
194

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 3.33
NOK's Dividend Yield % is ranked higher than
100% of the 440 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.01 vs. NOK: 3.33 )
Ranked among companies with meaningful Dividend Yield % only.
NOK' s Dividend Yield % Range Over the Past 10 Years
Min: 0.29  Med: 3.59 Max: 18.35
Current: 3.33
0.29
18.35
3-Year Dividend Growth Rate -46.30
NOK's 3-Year Dividend Growth Rate is ranked lower than
75% of the 199 Companies
in the Global Communication Equipment industry.

( Industry Median: -2.60 vs. NOK: -46.30 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
NOK' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: 0  Med: -10 Max: 23.3
Current: -46.3
0
23.3
Forward Dividend Yield % 3.30
NOK's Forward Dividend Yield % is ranked higher than
100% of the 408 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.10 vs. NOK: 3.30 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 3.33
NOK's 5-Year Yield-on-Cost % is ranked higher than
99% of the 563 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.01 vs. NOK: 3.33 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
NOK' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.29  Med: 3.59 Max: 18.35
Current: 3.33
0.29
18.35
3-Year Average Share Buyback Ratio -14.30
NOK's 3-Year Average Share Buyback Ratio is ranked lower than
79% of the 373 Companies
in the Global Communication Equipment industry.

( Industry Median: -3.00 vs. NOK: -14.30 )
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: -15.2  Med: 0.5 Max: 5.3
Current: -14.3
-15.2
5.3

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 3.75
NOK's Price-to-Tangible-Book is ranked lower than
64% of the 510 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.24 vs. NOK: 3.75 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
NOK' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 2.51  Med: 4.93 Max: 25.24
Current: 3.75
2.51
25.24
Price-to-Intrinsic-Value-Projected-FCF 1.90
NOK's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
56% of the 293 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.54 vs. NOK: 1.90 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
NOK' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.33  Med: 1.28 Max: 26.24
Current: 1.9
0.33
26.24
Price-to-Median-PS-Value 0.83
NOK's Price-to-Median-PS-Value is ranked higher than
72% of the 479 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.03 vs. NOK: 0.83 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
NOK' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.49  Med: 1.31 Max: 5.5
Current: 0.83
0.49
5.5
Earnings Yield (Greenblatt) % 0.08
NOK's Earnings Yield (Greenblatt) % is ranked lower than
65% of the 566 Companies
in the Global Communication Equipment industry.

( Industry Median: 3.01 vs. NOK: 0.08 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
NOK' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -104.6  Med: 6.7 Max: 19.8
Current: 0.08
-104.6
19.8
Forward Rate of Return (Yacktman) % -21.28
NOK's Forward Rate of Return (Yacktman) % is ranked lower than
88% of the 258 Companies
in the Global Communication Equipment industry.

( Industry Median: 8.22 vs. NOK: -21.28 )
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: -21.3  Med: 12.4 Max: 48.6
Current: -21.28
-21.3
48.6

More Statistics

Revenue (TTM) (Mil) $26,491.78
EPS (TTM) $ -0.30
Beta0.95
Short Percentage of Float0.00%
52-Week Range $4.51 - 6.65
Shares Outstanding (Mil)5,590.98 (ADR)

Analyst Estimate

Dec18 Dec19 Dec20
Revenue (Mil $) 27,284 28,010 28,349
EBIT (Mil $) 933 3,409 4,105
EBITDA (Mil $) 2,049 4,150 4,862
EPS ($) 0.37 0.42 0.49
EPS without NRI ($) 0.37 0.42 0.49
EPS Growth Rate
(Future 3Y To 5Y Estimate)
20.04%
Dividends per Share ($) 0.24 0.26 0.27

Piotroski F-Score Details

Piotroski F-Score: 66
Positive ROAN
Positive CFROAY
Higher ROA yoyY
CFROA > ROAY
Lower Leverage yoyY
Higher Current Ratio yoyN
Less Shares Outstanding yoyY
Higher Gross Margin yoyY
Higher Asset Turnover yoyN

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