NOKBF (Nokia Oyj) EBIT: $1,370 Mil (TTM As of Mar. 2026)


NOKBF Nokia Oyj NOKBF
58 GF Score
Price $13.98
GF Value $4.78
Valuation Significantly Overvalued
! 8 Warning Signs
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What is Nokia Oyj EBIT?

Nokia Oyj NOKBF +1.45% 58 EBIT is $1,370 Mil as of Mar. 2026. GuruFocus rates NOKBF with a GF Score™ of 58/100 and a GF Value™ of $4.78 (Significantly Overvalued). The stock has 8 warning signs investors should review.

Nokia Oyj's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $73 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $1,370 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Nokia Oyj's annualized ROC % for the quarter that ended in Mar. 2026 was 0.44%. Nokia Oyj's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 10.04%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Nokia Oyj's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1.80%.

Nokia Oyj  (OTCPK:NOKBF) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Nokia Oyj's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=291.328 * ( 1 - 51.67% )/( (30937.94 + 32767.631)/ 2 )
=140.7988224/31852.7855
=0.44 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=44024.59 - 6309.133 - ( 7919.204 - max(0, 11714.286 - 18491.803+7919.204))
=30937.94

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=43105.202 - 4057.803 - ( 7078.613 - max(0, 11077.457 - 17357.225+7078.613))
=32767.631

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Nokia Oyj's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=291.328/( ( (2915.691 + max(-1627.635, 0)) + (2887.861 + max(-2779.193, 0)) )/ 2 )
=291.328/( ( 2915.691 + 2887.861 )/ 2 )
=291.328/2901.776
=10.04 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5825.527 + 2586.651 + 167.447) - (6309.133 + 1829.04 + 2069.087)
=-1627.635

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5273.988 + 2752.601 + -0.0010000000002037) - (4057.803 + 2002.312 + 4745.666)
=-2779.193

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Nokia Oyj's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=1369.508/76286.130
=1.80 %

* 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 EBIT Related Terms

Nokia Oyj EBIT Historical Data

* Premium members only.

The historical data trend for Nokia Oyj's EBIT 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 EBIT Chart

Nokia Oyj Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,409.04 2,530.72 1,988.00 2,530.89 1,327.87

Nokia Oyj Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT 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 -22.70 92.27 280.52 923.89 72.83

NOKBF vs CSCO, CIEN, MSI: EBIT Comparison

For the Communication Equipment subindustry, Nokia Oyj's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Hardware Industry

For the Hardware industry and Technology sector, Nokia Oyj's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Nokia Oyj's EV-to-EBIT falls into.


NOKBF
58GF Score
Nokia Oyj NOKBF
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Nokia Oyj EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,370 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $1,370 Mil mean?
Nokia Oyj (NOKBF) has a EBIT of $1,370 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Nokia Oyj.
Is Nokia Oyj's EBIT too high?
Nokia Oyj's current EBIT is $1,370 Mil. Overall, Nokia Oyj has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nokia Oyj's EBIT compare to CSCO and CIEN?
Nokia Oyj's EBIT of $1,370 Mil can be compared against companies in the Hardware industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Hardware company?
A good EBIT depends on the Hardware industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Nokia Oyj. Nokia Oyj's current EBIT is $1,370 Mil. 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 (NOKBF) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.78, compared to a current price of $13.98 — trading 192.5% above its estimated fair value. The current EBIT is $1,370 Mil. Nokia Oyj's overall GF Score™ is 58/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Nokia Oyj (NOKBF), the current EBIT is $1,370 Mil as of Mar. 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 (NOKBF) Overvalued in 2026?

Based on GuruFocus' analysis, Nokia Oyj stock appears to be overvalued. The current stock price of $13.98 is trading 192.5% above its estimated GF Value™ of $4.78. GuruFocus considers Nokia Oyj to be Significantly Overvalued.

Key valuation signals for NOKBF:

  • EBIT: $1,370 Mil
  • GF Value™: $4.78 vs. price of $13.98 (192.5% above fair value)
  • GF Score™: 58/100 with 8 warning signs

No single metric tells the full story. See the NOKBF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Nokia Oyj Business Description

Address Karakaari 7, Espoo, FIN, 02610
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.
58GF Score

Get the complete analysis for NOKBF

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$13.98
Price
$4.78
GF Value