Nokia Oyj (LTS:0HAF) ROCE %: 0.91% (As of Mar. 2026)


LTS:0HAF Nokia Oyj LTS:0HAF
60 GF Score
Price €11.39
GF Value €4.27
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Nokia Oyj ROCE %?

Nokia Oyj LTS:0HAF -6.04% 60 ROCE % is 0.91% as of Mar. 2026. GuruFocus rates LTS:0HAF with a GF Score™ of 60/100 and a GF Value™ of €4.27 (Significantly Overvalued). The stock has 4 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Nokia Oyj's annualized ROCE % for the quarter that ended in Mar. 2026 was 0.91%.

Nokia Oyj  (LTS:0HAF) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Nokia Oyj ROCE % Related Terms

Nokia Oyj ROCE % Historical Data

* Premium members only.

The historical data trend for Nokia Oyj's ROCE % 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 ROCE % Chart

Nokia Oyj Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.14 8.22 6.17 8.53 4.10

Nokia Oyj Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % 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 -0.31 1.20 3.64 11.71 0.91
LTS:0HAF
60GF Score
Nokia Oyj LTS:0HAF
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Nokia Oyj ROCE % Calculation

Nokia Oyj's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=1134/( ( (39149 - 11394) + (37597 - 10004) )/ 2 )
=1134/( (27755+27593)/ 2 )
=1134/27674
=4.10 %

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

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=252/( ( (37597 - 10004) + (37286 - 9582) )/ 2 )
=252/( ( 27593 + 27704 )/ 2 )
=252/27648.5
=0.91 %

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

* 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 ROCE % →
What does a ROCE % of 0.91% mean?
Nokia Oyj (LTS:0HAF) has a ROCE % of 0.91% as of Mar. 2026.
Is Nokia Oyj's ROCE % too high?
Nokia Oyj's current ROCE % is 0.91%. The Hardware industry median ROCE % is 5.83. Nokia Oyj's value of 0.91% is 84.4% below this industry median. Overall, Nokia Oyj has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nokia Oyj's ROCE % compare to CSCO and CIEN?
Nokia Oyj's ROCE % of 0.91% can be compared against companies in the Hardware industry. The industry median ROCE % is 5.83. Nokia Oyj's value of 0.91% is 84.4% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Hardware company?
The median ROCE % among Hardware companies is 5.83, based on 2,445 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nokia Oyj's current ROCE % of 0.91% is 84.4% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Hardware industry, the median ROCE % is 5.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nokia Oyj's current ROCE % is 0.91%. 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 (LTS:0HAF) is currently considered Significantly Overvalued. The stock's GF Value™ is €4.27, compared to a current price of €11.39 — trading 166.7% above its estimated fair value. The current ROCE % is 0.91% and 84.4% below the Hardware industry median of 5.83. Nokia Oyj's overall GF Score™ is 60/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Nokia Oyj (LTS:0HAF), the current ROCE % is 0.91% 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 (LTS:0HAF) Overvalued in 2026?

Based on GuruFocus' analysis, Nokia Oyj stock appears to be overvalued. The current stock price of €11.39 is trading 166.7% above its estimated GF Value™ of €4.27. GuruFocus considers Nokia Oyj to be Significantly Overvalued.

Key valuation signals for LTS:0HAF:

  • ROCE %: 0.91%
  • GF Value™: €4.27 vs. price of €11.39 (166.7% above fair value)
  • GF Score™: 60/100 with 4 warning signs
  • Industry Position: 84.4% below the Hardware median

No single metric tells the full story. See the LTS:0HAF 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.
60GF Score

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

€11.39
Price
€4.27
GF Value