Nokia OyjNOKBF -7.81%58 ROE % is 1.62% as of Mar. 2026, which is 2% above its 10-year median of 1.59. GuruFocus rates NOKBF with a GF Score™ of 58/100 and a GF Value™ of $4.82 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,423 Hardware companies, Nokia Oyj ranks worse than 52.7% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Nokia Oyj's annualized net income for the quarter that ended in Mar. 2026 was $398 Mil. Nokia Oyj's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was $24,519 Mil. Therefore, Nokia Oyj's annualized ROE % for the quarter that ended in Mar. 2026 was 1.62%.
The historical rank and industry rank for Nokia Oyj's ROE % or its related term are showing as below:
NOKBF'
s ROE % Range Over the Past 10 Years
Min: -18.16 Med: 1.59 Max: 21.97
Current: 3.9
During the past 13 years, Nokia Oyj's highest ROE % was 21.97%. The lowest was -18.16%. And the median was 1.59%.
NOKBF's ROE % is ranked worse than 52.7% of 2423
companies
in the Hardware industry
Industry Median: 4.61
vs NOKBF: 3.90
Nokia Oyj (OTCPK:NOKBF) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Nokia Oyj ROE % Related Terms
Nokia Oyj ROE % Historical Data
* Premium members only.
The historical data trend for Nokia Oyj's ROE % 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 ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Hardware Industry
For the Hardware industry and Technology sector, Nokia Oyj's ROE % distribution charts can be found below:
* The bar in red indicates where Nokia Oyj's ROE % 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Nokia Oyj (NOKBF) has a ROE % of 1.62% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Nokia Oyj and its competitors. This is near median its historical median of 1.59. According to the industry distribution chart, Nokia Oyj ranks #1277 out of 2423 companies in the Hardware industry, placing it in the top 52.7%.
Is Nokia Oyj's ROE % too high?
Nokia Oyj's current ROE % of 1.62% is near median its 10-year median of 1.59. The Hardware industry median ROE % is 4.61. Nokia Oyj's value of 1.62% is 64.9% below this industry median. Based on the distribution chart, Nokia Oyj ranks #1277 out of 2423 companies in the Hardware industry, which is below the industry midpoint. 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 ROE % compare to CSCO and CIEN?
According to the Hardware industry distribution chart, Nokia Oyj ranks #1277 out of 2423 companies for ROE %. This places Nokia Oyj in the lower half of its industry. The industry median ROE % is 4.61. Nokia Oyj's value of 1.62% is 64.9% below this benchmark. While the company's 10-year median is 1.59 vs. the industry median of 4.61, Nokia Oyj has consistently been below 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 ROE % for a Hardware company?
The median ROE % among Hardware companies is 4.61, based on 2,423 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nokia Oyj's current ROE % of 1.62% is 64.9% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Nokia Oyj and its competitors. For the Hardware industry, the median ROE % is 4.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nokia Oyj's current ROE % is 1.62%, which is near median its own 10-year median of 1.59. 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 $4.82, compared to a current price of $12.87 — trading 167% above its estimated fair value. The current ROE % is 1.62%, which is near median its 10-year median of 1.59 and 64.9% below the Hardware industry median of 4.61. Nokia Oyj's overall GF Score™ is 58/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Nokia Oyj (NOKBF), the current ROE % is 1.62% 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 $12.87 is trading 167% above its estimated GF Value™ of $4.82.
GuruFocus considers Nokia Oyj to be Significantly Overvalued.
Key valuation signals for NOKBF:
ROE %: 1.62% (near median its 10-year median of 1.59)
GF Value™: $4.82 vs. price of $12.87 (167% above fair value)
Industry Position: 64.9% below the Hardware median (#1277 of 2423)
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 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
ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NOKBF has been successfully added to your 
