NOKIA CORP
NOK, NOKBF · Radio & Tv Broadcasting & Communications Equipment · EDGAR filings ↗
Grade
C66Scaled telecom-equipment vendor with low absolute returns and declining earnings despite a strong balance sheet.
Strengths
- Low leverage (D/E 0.16) and a large cash/investment position (93.8th pct) with interest coverage 3.6x
- Operating margin percentile (69th) and high-margin Technologies licensing segment
Risks
- Weak absolute returns (ROE 3.1%, ROA 1.8%) and net income down 42% on margin compression
- Mobile Networks margins eroding (operating margin 2.8%) amid intense, AI-accelerated competition
Notable findings
- Customer concentration~100% of revenue from one customer/distributor — 0% 8 158 100
- Strong balance sheetStrong balance sheet — $6.4B cash & investments
- Notable holderHeld by 5 notable fund(s): FMR LLC, CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- AccumulatingInstitutional holders rose 9→14 QoQ (2025-12-31→2026-03-31)
Key metrics
Gross margin
43.5%
Operating margin
4.4%
Net margin
3.3%
Return on equity
3.1%
Return on assets
1.8%
ROIC
2.9%
Revenue growth (QoQ)
16.9%
Net-income growth
-42.0%
Debt / equity
0.2×
Interest coverage
3.6×
Current ratio
1.6×
Tangible book value
$17.7B
Cash & investments
$6.4B
Supply chain
Customers (1)
- AT&T
Suppliers (2)
Named in the 10-K; linked when we track them.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-05 | 2025-12-31 | 0001628280-26-015034 ↗ |
| 20-F | 2025-03-13 | 2024-12-31 | 0000924613-25-000008 ↗ |
| 20-F | 2024-02-29 | 2023-12-31 | 0000924613-24-000013 ↗ |
| 20-F | 2023-03-02 | 2022-12-31 | 0001558370-23-002653 ↗ |
| 20-F | 2022-03-03 | 2021-12-31 | 0001558370-22-002758 ↗ |
| 20-F | 2021-03-04 | 2020-12-31 | 0001558370-21-002363 ↗ |
| 20-F | 2020-03-05 | 2019-12-31 | 0001558370-20-002053 ↗ |
| 20-F | 2019-03-21 | 2018-12-31 | 0001558370-19-002343 ↗ |
| 20-F | 2018-03-22 | 2017-12-31 | 0001558370-18-002320 ↗ |
| 20-F | 2017-03-23 | 2016-12-31 | 0001193125-17-093200 ↗ |
| 20-F | 2016-04-01 | 2015-12-31 | 0001193125-16-526767 ↗ |
| 20-F | 2015-03-19 | 2014-12-31 | 0001193125-15-098475 ↗ |