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Nokia OyjLTS:0HAF +9.96%59 Debt-to-Equity is 0.16 as of Jun. 2026, which is 36% below its 10-year median of 0.25. GuruFocus rates LTS:0HAF with a GF Score™ of 59/100 and a GF Value™ of €4.53 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,224 Hardware companies, Nokia Oyj ranks better than 63.94% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Nokia Oyj's Debt-to-Equity or its related term are showing as below:
LTS:0HAF'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.16 Med: 0.25 Max: 0.52
Current: 0.16
During the past 13 years, the highest Debt-to-Equity Ratio of Nokia Oyj was 0.52. The lowest was 0.16. And the median was 0.25.
LTS:0HAF's Debt-to-Equity is ranked better than 63.94% of 2224
companies
in the Hardware industry
Industry Median: 0.275
vs LTS:0HAF: 0.16
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Nokia Oyj Debt-to-Equity Related Terms
Nokia Oyj Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Nokia Oyj's Debt-to-Equity 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.
LTS:0HAF vs CSCO, MSI, HPE: Debt-to-Equity Comparison
For the Communication Equipment subindustry, Nokia Oyj's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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 Debt-to-Equity vs Hardware Industry
For the Hardware industry and Technology sector, Nokia Oyj's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Nokia Oyj's Debt-to-Equity falls into.
* 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.
Nokia Oyj (LTS:0HAF) has a Debt-to-Equity of 0.16 as of Jun. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Nokia Oyj and its competitors. This is 36% below median its historical median of 0.25. Over the past decade, Nokia Oyj's Debt-to-Equity has ranged from 0.16 to 0.52. According to the industry distribution chart, Nokia Oyj ranks #802 out of 2224 companies in the Hardware industry, placing it in the top 36.1%.
Is Nokia Oyj's Debt-to-Equity too high?
Nokia Oyj's current Debt-to-Equity of 0.16 is 36% below median its 10-year median of 0.25. Over the past 10 years, this metric has ranged from a low of 0.16 to a high of 0.52. The Hardware industry median Debt-to-Equity is 0.28. Nokia Oyj's value of 0.16 is 41.8% below this industry median. Based on the distribution chart, Nokia Oyj ranks #802 out of 2224 companies in the Hardware industry, which is above the industry midpoint. Overall, Nokia Oyj has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nokia Oyj's Debt-to-Equity compare to CSCO and MSI?
According to the Hardware industry distribution chart, Nokia Oyj ranks #802 out of 2224 companies for Debt-to-Equity. This puts Nokia Oyj in the upper half of its industry. The industry median Debt-to-Equity is 0.28. Nokia Oyj's value of 0.16 is 41.8% below this benchmark. Historically, Nokia Oyj's own Debt-to-Equity has ranged from 0.16 to 0.52 over the past decade. While the company's 10-year median is 0.25 vs. the industry median of 0.28, Nokia Oyj has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Hardware company?
The median Debt-to-Equity among Hardware companies is 0.28, based on 2,224 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nokia Oyj's current Debt-to-Equity of 0.16 is 41.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Nokia Oyj and its competitors. For the Hardware industry, the median Debt-to-Equity is 0.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nokia Oyj's current Debt-to-Equity is 0.16, which is 36% below median its own 10-year median of 0.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nokia Oyj stock overvalued right now?
Based on GuruFocus' analysis, Nokia Oyj (LTS:0HAF) is currently considered Significantly Overvalued. The stock's GF Value™ is €4.53, compared to a current price of €9.02 — trading 99.1% above its estimated fair value. The current Debt-to-Equity is 0.16, which is 36% below median its 10-year median of 0.25 and 41.8% below the Hardware industry median of 0.28. Nokia Oyj's overall GF Score™ is 59/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Nokia Oyj (LTS:0HAF), the current Debt-to-Equity is 0.16 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Nokia Oyj (LTS:0HAF) Overvalued in 2026?
Based on GuruFocus' analysis, Nokia Oyj stock appears to be overvalued.
The current stock price of €9.02 is trading 99.1% above its estimated GF Value™ of €4.53.
GuruFocus considers Nokia Oyj to be Significantly Overvalued.
Key valuation signals for LTS:0HAF:
Debt-to-Equity: 0.16 (36% below median its 10-year median of 0.25)
GF Value™: €4.53 vs. price of €9.02 (99.1% above fair value)
Industry Position: 41.8% below the Hardware median (#802 of 2224)
No single metric tells the full story. See the LTS:0HAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nokia is a networking equipment vendor focused primarily on supporting wireless networks and, to a growing extent, Internet Protocol and optical systems. The firm operates three segments. The mobile infrastructure segment sells equipment and software used to operate the core of carrier and enterprise wireless networks. Network infrastructure comprises IP, optical, and fixed-network equipment, including switching and routing equipment, optical components, and devices used in fiber-to-the-premises networks. The portfolio business comprises businesses considered noncore to Nokia in the future, including fixed wireless access customer premises equipment, enterprise campus edge, and microwave radio.
59GF Score
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