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Nokia Oyj (OSTO:NOKIA SEK) Cyclically Adjusted FCF per Share : kr1.41 (As of Mar. 2025)


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What is Nokia Oyj Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

Nokia Oyj's adjusted free cash flow per share for the three months ended in Mar. 2025 was kr1.468. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is kr1.41 for the trailing ten years ended in Mar. 2025.

Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of Nokia Oyj was 115.40% per year. The lowest was -66.20% per year. And the median was -11.70% per year.

As of today (2025-07-06), Nokia Oyj's current stock price is kr49.50. Nokia Oyj's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was kr1.41. Nokia Oyj's Cyclically Adjusted Price-to-FCF of today is 35.11.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Nokia Oyj was 396.40. The lowest was 8.04. And the median was 32.39.


Nokia Oyj Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Nokia Oyj's Cyclically Adjusted FCF per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Nokia Oyj Cyclically Adjusted FCF per Share Chart

Nokia Oyj Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.10 0.31 0.89 1.11 -

Nokia Oyj Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.50 1.25 - - 1.41

Competitive Comparison of Nokia Oyj's Cyclically Adjusted FCF per Share

For the Communication Equipment subindustry, Nokia Oyj's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Nokia Oyj's Cyclically Adjusted Price-to-FCF Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Nokia Oyj's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Nokia Oyj's Cyclically Adjusted Price-to-FCF falls into.


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Nokia Oyj Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Nokia Oyj's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=1.468/123.0100*123.0100
=1.468

Current CPI (Mar. 2025) = 123.0100.

Nokia Oyj Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 -0.813 100.030 -1.000
201509 1.041 100.130 1.279
201512 0.860 99.990 1.058
201603 -2.729 100.080 -3.354
201606 -1.164 100.390 -1.426
201609 0.114 100.540 0.139
201612 0.649 101.020 0.790
201703 -1.040 100.910 -1.268
201706 1.541 101.140 1.874
201709 -1.524 101.320 -1.850
201712 3.263 101.510 3.954
201803 -0.673 101.730 -0.814
201806 -1.726 102.320 -2.075
201809 -0.409 102.600 -0.490
201812 2.194 102.710 2.628
201903 -1.730 102.870 -2.069
201906 -1.988 103.360 -2.366
201909 0.518 103.540 0.615
201912 2.562 103.650 3.041
202003 -0.039 103.490 -0.046
202006 0.454 103.320 0.541
202009 0.585 103.710 0.694
202012 1.340 103.890 1.587
202103 2.061 104.870 2.418
202106 -0.012 105.360 -0.014
202109 1.072 106.290 1.241
202112 0.587 107.490 0.672
202203 0.683 110.950 0.757
202206 -0.269 113.570 -0.291
202209 0.524 114.920 0.561
202212 0.724 117.320 0.759
202303 -0.296 119.750 -0.304
202306 -0.956 120.690 -0.974
202309 -0.795 121.280 -0.806
202312 3.243 121.540 3.282
202403 1.942 122.360 1.952
202406 0.800 122.230 0.805
202409 0.000 122.260 0.000
202412 0.000 122.390 0.000
202503 1.468 123.010 1.468

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


Nokia Oyj  (OSTO:NOKIA SEK) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Nokia Oyj's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=49.50/1.41
=35.11

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Nokia Oyj was 396.40. The lowest was 8.04. And the median was 32.39.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Nokia Oyj Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of Nokia Oyj's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Nokia Oyj Business Description

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Nokia provides telecom equipment and services that are used to build wireless and fixed-line networks. It operates in four segments. The mobile networks segment, which sells equipment and services to telecom carriers to power public wireless networks, is the largest. Network infrastructure focuses on fixed networks, including infrastructure, solutions, and components for IP networks, optical networks, and submarine networks. Cloud and network services is a nascent segment catering to enterprises, offering as-a-service platforms. Nokia also has a sizable research division and patent business, where it licenses technology used by handset providers, consumer electronics firms, and other firms making electronic and Internet of Things products.

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