Nokia Corp - ADR

Nokia Corp - ADR

NOK

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Market Cap$49.15B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Nokia Corp - ADRNokia Corp - ADR62.81.76%4%30.3

Earnings Call Q2 2026

July 23, 2026 - AI Summary

Strong quarter momentum; margins improved (good): - Net sales +9% YoY in Q2 2026 (constant currency / comparable basis per call). - Gross margin +70 bps to 46%; operating margin +70 bps to 9% (operating profit $434m). - Network Infrastructure grew +12%, led by Optical (+20%) and IP Networks (+16%). - Positive/mixed drivers: optical margin benefited from strong AI/cloud demand + integration of Infinera; operating profit was headwound ~150 bps from higher stock-based compensation due to share price/program effects; quarter also benefited from software revenue phasing.
AI & Cloud acceleration with lumpy but expanding order book (surprising/opportunity): - AI & Cloud net sales +105% YoY to EUR 446m, and order intake EUR 2.8bn (quarter). - Management emphasized “lumpiness”: Q2 orders benefited from several significant long-term orders in a constrained supply environment. - Context investors should note: ~half of Q2 order volume expected to convert to revenue within the next 12 months; Nokia does not expect the same quarterly intake level every quarter. - Telco/telecom appears to be emerging as a secondary growth contributor tied to increased traffic (AR supercycle), but telecom expectations are “mostly unchanged.”
Outlook remains steady; Q3 profit roughly similar to Q2, improvement in Q4 (forecast): - No operational change to comparable operating profit guidance; still tracking somewhat above the midpoint of the operating profit range. - Q3 assumptions: net sales +3% to +7% sequentially. - Operating profit expected broadly similar to Q2 due to mobile infrastructure software revenue phasing (then meaningful improvement in Q4). - Cash conversion guidance adjusted slightly: now tracking towards low end of FCF conversion 55%–75% due to restructuring cost + working capital investments.

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Target Price by Analysts

75.8% upsideNokia Target Price DetailsTarget Price
$7.08

Current Fair Value

22.2% downside

Overvalued by 22.2% based on the discounted cash flow analysis.

Share Statistics

Market cap$49.15 Billion
Enterprise Value$50.18 Billion
Dividend Yield$0.16 (1.76%)
Earnings per Share$0.11
Beta0.79
Outstanding Shares5,597,472,000

Return

Return on Equity4.28%ROE
Return on Assets2.43%
Return on Invested Capital3.78%

Valuation & Multiples

P/E Ratio62.76P/E Ratio
PEG-64.19PEG
Price to Sales3.03Price to Sales
Price to Book Ratio3.03Price to Book Ratio
Enterprise Value to Revenue2.58
Enterprise Value to EBIT48.32
Enterprise Value to Net Income55
Total Debt to Enterprise0.11
Debt to Equity0.25Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 23, 2026
EPS Estimate
$0.07
Average shareholder expectation
Revenue Estimate
$5.57 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 22, 2026
EPS Estimate
$0.08
Average shareholder expectation
Revenue Estimate
$5.74 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 50.77%
Total Calls743,100▼ 96.96%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %0.52%▼ 19.29%
Total Invested$388.17M▼ 95.50%
Investors Holding298▼ 360.00%

ESG Score

No data

About Nokia Corp

CEO: Pekka Lundmark

Relevant Senate Committees

Finance

This committee controls taxation and trade policy. Decisions on corporate tax rates, tariffs on imports/exports, and trade agreements directly affect Nokia's profitability, cost of goods, and global market competitiveness.

Judiciary

This committee's oversight of antitrust laws and intellectual property is crucial for a major tech company like Nokia, impacting potential mergers, competitive practices, and the protection of its extensive patent portfolio (e.g., 5G patents).

Select Committee on Intelligence

Given Nokia's role in critical communication infrastructure, this committee's classified briefings on global threats, cybersecurity, and national security implications of telecom supply chains could directly influence procurement decisions and market perception.

Commerce, Science, and Transportation

This committee has direct oversight over the telecommunications sector, including the FCC and FTC. Decisions on spectrum allocation, net neutrality, and competition policy profoundly impact Nokia's market and products.

Foreign Relations

Geopolitical decisions, trade policies, and sanctions (e.g., on specific tech vendors) significantly influence global telecom supply chains, market access, and competitive landscape, directly impacting a global vendor like Nokia.