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Nokia OyjNOK 63 Earnings Yield (Joel Greenblatt) % is 1.66% as of Jun. 2026, which is 73% below its 10-year median of 6.15. GuruFocus rates NOK with a GF Score™ of 63/100 and a GF Value™ of $5.29 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,496 Hardware companies, Nokia Oyj ranks worse than 51.96% on this metric.
Nokia Oyj's Enterprise Value for the quarter that ended in Jun. 2026 was $72,207 Mil.
Nokia Oyj's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was $1,220 Mil. Nokia Oyj's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2026 was 1.66%.
The historical rank and industry rank for Nokia Oyj's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
NOK'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -2.05 Med: 6.15 Max: 13.54
Current: 2.18
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Nokia Oyj was 13.54%. The lowest was -2.05%. And the median was 6.15%.
NOK's Earnings Yield (Joel Greenblatt) % is ranked worse than 51.96% of 2496
companies
in the Hardware industry
Industry Median: 2.35
vs NOK: 2.18
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Nokia Oyj's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2026 was -4.09%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Nokia Oyj (NYSE:NOK) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Nokia Oyj Earnings Yield (Joel Greenblatt) % Related Terms
Nokia Oyj Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Nokia Oyj's Earnings Yield (Joel Greenblatt) % 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.
Nokia Oyj Earnings Yield (Joel Greenblatt) % Chart
NOK vs CSCO, MSI, HPE: Earnings Yield (Joel Greenblatt) % Comparison
For the Communication Equipment subindustry, Nokia Oyj's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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 Earnings Yield (Joel Greenblatt) % vs Hardware Industry
For the Hardware industry and Technology sector, Nokia Oyj's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Nokia Oyj's Earnings Yield (Joel Greenblatt) % falls into.
Nokia Oyj Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Nokia Oyjs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Nokia Oyj's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,220 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 1.66% mean?
Nokia Oyj (NOK) has a Earnings Yield (Joel Greenblatt) % of 1.66% as of Jun. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Nokia Oyj and its competitors. This is 73% below median its historical median of 6.15. According to the industry distribution chart, Nokia Oyj ranks #1297 out of 2496 companies in the Hardware industry, placing it in the top 52%.
Is Nokia Oyj's Earnings Yield (Joel Greenblatt) % too high?
Nokia Oyj's current Earnings Yield (Joel Greenblatt) % of 1.66% is 73% below median its 10-year median of 6.15. The Hardware industry median Earnings Yield (Joel Greenblatt) % is 2.35. Nokia Oyj's value of 1.66% is 29.4% below this industry median. Based on the distribution chart, Nokia Oyj ranks #1297 out of 2496 companies in the Hardware industry, which is below the industry midpoint. Overall, Nokia Oyj has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nokia Oyj's Earnings Yield (Joel Greenblatt) % compare to CSCO and MSI?
According to the Hardware industry distribution chart, Nokia Oyj ranks #1297 out of 2496 companies for Earnings Yield (Joel Greenblatt) %. This places Nokia Oyj in the lower half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 2.35. Nokia Oyj's value of 1.66% is 29.4% below this benchmark. While the company's 10-year median is 6.15 vs. the industry median of 2.35, 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 Earnings Yield (Joel Greenblatt) % for a Hardware company?
The median Earnings Yield (Joel Greenblatt) % among Hardware companies is 2.35, based on 2,496 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nokia Oyj's current Earnings Yield (Joel Greenblatt) % of 1.66% is 29.4% 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 Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Nokia Oyj and its competitors. For the Hardware industry, the median Earnings Yield (Joel Greenblatt) % is 2.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nokia Oyj's current Earnings Yield (Joel Greenblatt) % is 1.66%, which is 73% below median its own 10-year median of 6.15. 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 (NOK) is currently considered Significantly Overvalued. The stock's GF Value™ is $5.29, compared to a current price of $10.39 — trading 96.4% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 1.66%, which is 73% below median its 10-year median of 6.15 and 29.4% below the Hardware industry median of 2.35. Nokia Oyj's overall GF Score™ is 63/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Nokia Oyj (NOK), the current Earnings Yield (Joel Greenblatt) % is 1.66% 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 (NOK) Overvalued in 2026?
Based on GuruFocus' analysis, Nokia Oyj stock appears to be overvalued.
The current stock price of $10.39 is trading 96.4% above its estimated GF Value™ of $5.29.
GuruFocus considers Nokia Oyj to be Significantly Overvalued.
Key valuation signals for NOK:
Earnings Yield (Joel Greenblatt) %: 1.66% (73% below median its 10-year median of 6.15)
GF Value™: $5.29 vs. price of $10.39 (96.4% above fair value)
Industry Position: 29.4% below the Hardware median (#1297 of 2496)
No single metric tells the full story. See the NOK 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.
63GF Score
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