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FCF Margin % is calculated as Free Cash Flow divided by its Revenue. Nokia Oyj's Free Cash Flow for the
three
months ended in Jun. 2026 was €-749 Mil. Nokia Oyj's Revenue for the
three
months ended in Jun. 2026 was €4,815 Mil. Therefore, Nokia Oyj's FCF Margin % for the quarter that ended in Jun. 2026 was -15.56%.
The historical rank and industry rank for Nokia Oyj's FCF Margin % or its related term are showing as below:
HAM:NOAA'
s FCF Margin % Range Over the Past 10 Years
Min: -8.17 Med: 4.45 Max: 10.52
Current: 2.64
During the past 13 years, the highest FCF Margin % of Nokia Oyj was 10.52%. The lowest was -8.17%. And the median was 4.45%.
HAM:NOAA's FCF Margin % is ranked better than 73.18% of 2476
companies
in the Hardware industry
Industry Median: 0.63
vs HAM:NOAA: 2.64
Nokia Oyj FCF Margin % Related Terms
Nokia Oyj FCF Margin % Historical Data
* Premium members only.
The historical data trend for Nokia Oyj's FCF Margin % 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.
HAM:NOAA vs CSCO, CIEN, MSI: FCF Margin % Comparison
For the Communication Equipment subindustry, Nokia Oyj's FCF Margin %, along with its competitors' market caps and FCF Margin % 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 FCF Margin % vs Hardware Industry
For the Hardware industry and Technology sector, Nokia Oyj's FCF Margin % distribution charts can be found below:
* The bar in red indicates where Nokia Oyj's FCF Margin % 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 (HAM:NOAA) has a FCF Margin % of -15.56% as of Jun. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Nokia Oyj and its competitors. According to the industry distribution chart, Nokia Oyj ranks #664 out of 2476 companies in the Hardware industry, placing it in the top 26.8%.
Is Nokia Oyj's FCF Margin % too high?
Nokia Oyj's current FCF Margin % is -15.56%. Based on the distribution chart, Nokia Oyj ranks #664 out of 2476 companies in the Hardware industry, which is above 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 FCF Margin % compare to CSCO and CIEN?
According to the Hardware industry distribution chart, Nokia Oyj ranks #664 out of 2476 companies for FCF Margin %. This puts Nokia Oyj in the upper half of its industry. The industry median FCF Margin % is 0.63. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good FCF Margin % for a Hardware company?
The median FCF Margin % among Hardware companies is 0.63, based on 2,476 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % 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 FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Nokia Oyj and its competitors. For the Hardware industry, the median FCF Margin % is 0.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nokia Oyj's current FCF Margin % is -15.56%. 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 (HAM:NOAA) is currently considered Significantly Overvalued. The stock's GF Value™ is €4.34, compared to a current price of €9.30 — trading 114.3% above its estimated fair value. The current FCF Margin % is -15.56%. 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 FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For Nokia Oyj (HAM:NOAA), the current FCF Margin % is -15.56% 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 (HAM:NOAA) Overvalued in 2026?
Based on GuruFocus' analysis, Nokia Oyj stock appears to be overvalued.
The current stock price of €9.30 is trading 114.3% above its estimated GF Value™ of €4.34.
GuruFocus considers Nokia Oyj to be Significantly Overvalued.
Key valuation signals for HAM:NOAA:
FCF Margin %: -15.56%
GF Value™: €4.34 vs. price of €9.30 (114.3% above fair value)
No single metric tells the full story. See the HAM:NOAA 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
Get the complete analysis for HAM:NOAA
FCF Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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