Nokia OyjMEX:NOKN -7.87%47 Gross Margin % is 44.21% as of Mar. 2026, which is 12% above its 10-year median of 39.64. GuruFocus rates MEX:NOKN with a GF Score™ of 47/100 and a GF Value™ of MXN84.28 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,450 Hardware companies, Nokia Oyj ranks better than 81.71% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Nokia Oyj's Gross Profit for the
three
months ended in Mar. 2026 was MXN41,444 Mil. Nokia Oyj's Revenue for the
three
months ended in Mar. 2026 was MXN93,749 Mil. Therefore, Nokia Oyj's Gross Margin % for the quarter that ended in Mar. 2026 was 44.21%.
The historical rank and industry rank for Nokia Oyj's Gross Margin % or its related term are showing as below:
MEX:NOKN'
s Gross Margin % Range Over the Past 10 Years
Min: 35.44 Med: 39.64 Max: 46.12
Current: 44.12
During the past 13 years, the highestGross Margin % of Nokia Oyj was 46.12%. The lowest was 35.44%. And the median was 39.64%.
MEX:NOKN's Gross Margin % is ranked better than 81.71% of 2450
companies
in the Hardware industry
Industry Median: 24.53
vs MEX:NOKN: 44.12
Nokia Oyj had a gross margin of 44.21% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Nokia Oyj was 3.30% per year.
Nokia Oyj (MEX:NOKN) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Nokia Oyj had a gross margin of 44.21% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Nokia Oyj Gross Margin % Related Terms
Nokia Oyj Gross Margin % Historical Data
* Premium members only.
The historical data trend for Nokia Oyj's Gross 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.
MEX:NOKN vs CSCO, CIEN, MSI: Gross Margin % Comparison
For the Communication Equipment subindustry, Nokia Oyj's Gross Margin %, along with its competitors' market caps and Gross 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 Gross Margin % vs Hardware Industry
For the Hardware industry and Technology sector, Nokia Oyj's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Nokia Oyj's Gross 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Nokia Oyj (MEX:NOKN) has a Gross Margin % of 44.21% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Nokia Oyj and its competitors. This is 12% above median its historical median of 39.64. Over the past decade, Nokia Oyj's Gross Margin % has ranged from 35.44 to 46.12. According to the industry distribution chart, Nokia Oyj ranks #448 out of 2450 companies in the Hardware industry, placing it in the top 18.3%.
Is Nokia Oyj's Gross Margin % too high?
Nokia Oyj's current Gross Margin % of 44.21% is 12% above median its 10-year median of 39.64. Over the past 10 years, this metric has ranged from a low of 35.44 to a high of 46.12. The Hardware industry median Gross Margin % is 24.53. Nokia Oyj's value of 44.21% is 80.2% above this industry median. Based on the distribution chart, Nokia Oyj ranks #448 out of 2450 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Nokia Oyj has a GF Score™ of 47/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nokia Oyj's Gross Margin % compare to CSCO and CIEN?
According to the Hardware industry distribution chart, Nokia Oyj ranks #448 out of 2450 companies for Gross Margin %. This places Nokia Oyj in the top 18% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 24.53. Nokia Oyj's value of 44.21% is 80.2% above this benchmark. Historically, Nokia Oyj's own Gross Margin % has ranged from 35.44 to 46.12 over the past decade. While the company's 10-year median is 39.64 vs. the industry median of 24.53, 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 Gross Margin % for a Hardware company?
The median Gross Margin % among Hardware companies is 24.53, based on 2,450 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nokia Oyj's current Gross Margin % of 44.21% is 80.2% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Nokia Oyj and its competitors. For the Hardware industry, the median Gross Margin % is 24.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nokia Oyj's current Gross Margin % is 44.21%, which is 12% above median its own 10-year median of 39.64. 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 (MEX:NOKN) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN84.28, compared to a current price of MXN224.80 — trading 166.7% above its estimated fair value. The current Gross Margin % is 44.21%, which is 12% above median its 10-year median of 39.64 and 80.2% above the Hardware industry median of 24.53. Nokia Oyj's overall GF Score™ is 47/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Nokia Oyj (MEX:NOKN), the current Gross Margin % is 44.21% 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 (MEX:NOKN) Overvalued in 2026?
Based on GuruFocus' analysis, Nokia Oyj stock appears to be overvalued.
The current stock price of MXN224.80 is trading 166.7% above its estimated GF Value™ of MXN84.28.
GuruFocus considers Nokia Oyj to be Significantly Overvalued.
Key valuation signals for MEX:NOKN:
Gross Margin %: 44.21% (12% above median its 10-year median of 39.64)
GF Value™: MXN84.28 vs. price of MXN224.80 (166.7% above fair value)
Industry Position: 80.2% above the Hardware median (#448 of 2450)
No single metric tells the full story. See the MEX:NOKN 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.
47GF Score
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