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Nokia OyjNOK -0.74%63 EV-to-EBITDA is 21.21 as of Aug. 08, 2026, which is 153% above its 10-year median of 8.40. GuruFocus rates NOK with a GF Score™ of 63/100 and a GF Value™ of $5.13 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,888 Hardware companies, Nokia Oyj ranks worse than 60.81% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Nokia Oyj's enterprise value is $50,324 Mil.
Nokia Oyj's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 was $2,373 Mil. Therefore, Nokia Oyj's EV-to-EBITDA for today is 21.21.
The historical rank and industry rank for Nokia Oyj's EV-to-EBITDA or its related term are showing as below:
NOK'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 4.73 Med: 8.4 Max: 31.76
Current: 21.21
During the past 13 years, the highest EV-to-EBITDA of Nokia Oyj was 31.76. The lowest was 4.73. And the median was 8.40.
NOK's EV-to-EBITDA is ranked worse than 60.81% of 1888
companies
in the Hardware industry
Industry Median: 15.405
vs NOK: 21.21
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Nokia Oyj's share price for today is $9.36.
Nokia Oyj's Earnings per Share (Diluted) 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 $0.152.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Nokia Oyj's EV-to-EBITDA 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.
For the Communication Equipment subindustry, Nokia Oyj's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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-EBITDA vs Hardware Industry
For the Hardware industry and Technology sector, Nokia Oyj's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Nokia Oyj's EV-to-EBITDA falls into.
Nokia Oyj's current Enterprise Value is $50,324 Mil.
Nokia Oyj's EBITDA 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 $2,373 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.
Nokia Oyj (NOK) has a EV-to-EBITDA of 21.21 as of Aug. 08, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Nokia Oyj. This is 153% above median its historical median of 8.40. Over the past decade, Nokia Oyj's EV-to-EBITDA has ranged from 4.73 to 31.76. According to the industry distribution chart, Nokia Oyj ranks #1148 out of 1888 companies in the Hardware industry, placing it in the top 60.8%.
Is Nokia Oyj's EV-to-EBITDA too high?
Nokia Oyj's current EV-to-EBITDA of 21.21 is 153% above median its 10-year median of 8.40. Over the past 10 years, this metric has ranged from a low of 4.73 to a high of 31.76. The Hardware industry median EV-to-EBITDA is 15.41. Nokia Oyj's value of 21.21 is 37.7% above this industry median. Based on the distribution chart, Nokia Oyj ranks #1148 out of 1888 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 EV-to-EBITDA compare to CSCO and MSI?
According to the Hardware industry distribution chart, Nokia Oyj ranks #1148 out of 1888 companies for EV-to-EBITDA. This places Nokia Oyj in the lower half of its industry. The industry median EV-to-EBITDA is 15.41. Nokia Oyj's value of 21.21 is 37.7% above this benchmark. Historically, Nokia Oyj's own EV-to-EBITDA has ranged from 4.73 to 31.76 over the past decade. While the company's 10-year median is 8.40 vs. the industry median of 15.41, Nokia Oyj has consistently been above 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 EV-to-EBITDA for a Hardware company?
The median EV-to-EBITDA among Hardware companies is 15.41, based on 1,888 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nokia Oyj's current EV-to-EBITDA of 21.21 is 37.7% above 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 EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Nokia Oyj. For the Hardware industry, the median EV-to-EBITDA is 15.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nokia Oyj's current EV-to-EBITDA is 21.21, which is 153% above median its own 10-year median of 8.40. 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 $5.13, compared to a current price of $9.36 — trading 82.5% above its estimated fair value. The current EV-to-EBITDA is 21.21, which is 153% above median its 10-year median of 8.40 and 37.7% above the Hardware industry median of 15.41. 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 EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Nokia Oyj (NOK), the current EV-to-EBITDA is 21.21 as of Aug. 08, 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 $9.36 is trading 82.5% above its estimated GF Value™ of $5.13.
GuruFocus considers Nokia Oyj to be Significantly Overvalued.
Key valuation signals for NOK:
EV-to-EBITDA: 21.21 (153% above median its 10-year median of 8.40)
GF Value™: $5.13 vs. price of $9.36 (82.5% above fair value)
Industry Position: 37.7% above the Hardware median (#1148 of 1888)
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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