Nokia Oyj Ratios and Metrics

Market cap in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 3, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Cap	39,400	36,119	23,803	18,898	25,924	35,050
Market Cap Growth	54.05%	51.74%	25.96%	-27.10%	-26.04%	59.58%
Enterprise Value	37,481	34,200	20,359	16,378	21,719	31,546
PE Ratio	60.52	45.92	18.52	28.09	5.85	18.86
Forward PE	22.43	-	-	-	-	-
PS Ratio	1.98	1.82	1.24	0.89	1.09	1.58
PB Ratio	1.87	1.72	1.15	0.92	1.59	2.02
P/TBV Ratio	1.85	1.70	1.19	0.93	1.62	2.04
P/FCF Ratio	26.89	24.65	11.78	28.42	29.70	16.97
P/OCF Ratio	19.02	17.44	9.55	14.35	17.59	13.35
EV/Sales Ratio	1.88	1.72	1.06	0.77	0.91	1.42
EV/EBITDA Ratio	14.29	17.07	6.76	5.96	6.32	14.62
EV/EBIT Ratio	24.92	38.64	10.18	9.86	9.45	14.62
EV/FCF Ratio	25.58	23.34	10.07	24.63	24.88	15.28
Debt / Equity Ratio	0.21	0.21	0.23	0.25	0.13	0.32
Debt / EBITDA Ratio	2.17	2.20	1.58	1.89	1.24	2.62
Debt / FCF Ratio	3.01	3.01	2.35	7.80	4.87	2.74
Net Debt / Equity Ratio	-0.10	-0.10	-0.17	-0.13	-0.26	-0.21
Net Debt / EBITDA Ratio	-0.99	-1.00	-1.17	-0.95	-1.25	-1.67
Net Debt / FCF Ratio	-1.37	-1.37	-1.75	-3.93	-4.92	-1.75
Asset Turnover	0.52	0.52	0.49	0.51	0.57	0.58
Inventory Turnover	5.14	5.14	4.24	4.21	4.83	5.77
Quick Ratio	1.30	1.30	1.32	1.34	-	1.38
Current Ratio	1.58	1.58	1.58	1.65	-	1.62
Return on Equity (ROE)	3.17%	3.05%	8.27%	2.44%	16.77%	11.02%
Return on Assets (ROA)	1.58%	1.61%	4.14%	1.77%	10.73%	4.86%
Return on Invested Capital (ROIC)	2.41%	2.46%	6.47%	2.44%	15.48%	8.35%
Return on Capital Employed (ROCE)	3.31%	3.20%	7.05%	4.62%	6.49%	8.24%
Earnings Yield	1.65%	2.18%	5.40%	3.56%	17.09%	5.30%
FCF Yield	3.72%	4.06%	8.49%	3.52%	3.37%	5.89%
Dividend Yield	1.99%	2.54%	3.10%	3.62%	1.45%	0.03%
Payout Ratio	115.67%	116.59%	56.62%	93.38%	8.31%	0.55%
Buyback Yield / Dilution	-0.13%	-2.38%	2.86%	1.59%	1.16%	0.00%
Total Shareholder Return	1.87%	0.17%	5.96%	5.21%	2.61%	0.03%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.