Nokia Oyj (NOK)
Technology · NYQ · US
Fundamentals
Valuation and ratings
Nokia Oyj trades at USD10.38, which is 57% above the USD4.50 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 47 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 75.0 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Nokia Oyj
Nokia Oyj, together with its subsidiaries, provides mobile, fixed, and cloud network solutions in North and Latin America, Greater China, India, Asia Pacific, Europe, the Middle East, and Africa. It operates in four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company offers fixed network solutions, such as fiber and copper technologies, access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP network solutions, which delivers IP edge routing and data center networking solutions for residential, mobile, enterprise, and cloud applications; and optical networks solutions, which provides optical transport networks for metro, regional, and long-haul applications. It also provides mobile technology products and services for radio access networks and microwave radio links for transport networks; and network management solutions, as well as network planning, optimization, network deployment, and technical support services. In addition, the company offers cloud and network services, including open, secure, automated, and scalable software and solutions; and 5G core, secure autonomous networks, private wireless and industrial edge, and network APIs. Further, it licenses intellectual property, including patents, technologies, and the Nokia brand. The company serves its products and services to defense communications energy and resources, enterprise and industrial campus, private networks, public sector, and transportation industries. Nokia Oyj was founded in 1865 and is headquartered in Espoo, Finland.
NOK passes 1 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
12 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Richard Pzena, PZENA INVESTMENT MANAGEMENT LLC$509.94M · 1.7% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$336.52M · 0.2% of book
- David Greenspan, Slate Path Capital LP$288.14M · 4.3% of book
- Steve Cohen, Point72 Asset Management, L.P.$124.46M · 0.2% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$106.89M · 0.2% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Nokia Oyj (NOK) undervalued?
Against our discounted cash flow estimate of USD4.50, NOK at USD10.38 is 57% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own NOK?
12 of the institutions we track reported a position in NOK in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is NOK's P/E ratio?
NOK trades at 75.0 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for NOK, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.