Nokia Oyj (EPA:NOKIA)

Nokia Oyj Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	929	1,277	665	4,250	1,623	-2,523
Depreciation & Amortization	1,080	1,014	1,087	1,140	1,095	1,132
Loss (Gain) From Sale of Assets	-132	-380	-162	-35	-59	-3
Asset Writedown & Restructuring Costs	251	999	341	277	223	700
Loss (Gain) From Sale of Investments	-47	-47	56	-27	-188	-61
Loss (Gain) on Equity Investments	-	-	-	-	-	-26
Stock-Based Compensation	241	241	202	149	108	76
Other Operating Activities	181	-42	410	-2,437	91	3,174
Change in Accounts Receivable	-974	-364	304	-451	239	-418
Change in Inventory	381	404	443	-991	-48	553
Change in Other Net Operating Assets	7	-609	-2,029	-401	-459	-845
Operating Cash Flow	1,904	2,493	1,317	1,474	2,625	1,759
Operating Cash Flow Growth	-54.18%	89.29%	-10.65%	-43.85%	49.23%	351.03%

Investing Activities

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Capital Expenditures	-616	-472	-652	-601	-560	-479
Sale of Property, Plant & Equipment	32	97	189	33	103	13
Cash Acquisitions	-1,740	-37	-19	-20	-33	-104
Divestitures	-89	-29	17	-	-	-
Investment in Securities	1,006	263	1,486	-1,261	-1,247	-968
Other Investing Activities	124	61	22	-31	-58	100
Investing Cash Flow	-1,283	-117	1,043	-1,880	-1,795	-1,438

Financing Activities

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Short-Term Debt Issued	-	-	-	27	-	-
Long-Term Debt Issued	-	101	496	8	17	1,595
Total Debt Issued	252	101	496	35	17	1,595
Short-Term Debt Repaid	-	-6	-40	-	-67	-83
Long-Term Debt Repaid	-	-695	-1,037	-219	-1,153	-480
Total Debt Repaid	-1,115	-701	-1,077	-219	-1,220	-563
Net Debt Issued (Repaid)	-863	-600	-581	-184	-1,203	1,032
Repurchase of Common Stock	-1,010	-680	-300	-300	-	-
Common Dividends Paid	-753	-714	-611	-336	-9	-149
Other Financing Activities	-7	-9	-10	-17	-	-
Financing Cash Flow	-2,633	-2,003	-1,502	-837	-1,212	883

Net Cash Flow

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Foreign Exchange Rate Adjustments	-167	16	-91	19	133	-174
Net Cash Flow	-2,179	389	767	-1,224	-249	1,030

Free Cash Flow

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Free Cash Flow	1,288	2,021	665	873	2,065	1,280
Free Cash Flow Growth	-65.11%	203.91%	-23.83%	-57.72%	61.33%	-
Free Cash Flow Margin	6.52%	10.51%	3.15%	3.67%	9.30%	5.86%
Free Cash Flow Per Share	0.23	0.36	0.12	0.15	0.36	0.23
Levered Free Cash Flow	1,116	2,670	926.75	1,314	2,241	1,282
Unlevered Free Cash Flow	1,348	2,875	1,150	1,452	2,370	1,434

Additional Metrics

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash Interest Paid	218	263	241	180	192	35
Cash Income Tax Paid	334	342	576	381	314	280
Change in Working Capital	-586	-569	-1,282	-1,843	-268	-710

Data Source: S&P Global Market Intelligence Last updated: Sep 30, 2025

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Dec 29, 2025

Data Sources Report a data error