Nokia Oyj Ratios and Metrics

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 9, 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	43,808	41,872	27,594	21,908	30,053	40,632
Market Cap Growth	63.40%	51.74%	25.96%	-27.10%	-26.04%	59.58%
Enterprise Value	41,551	39,412	23,371	18,757	25,178	36,356
PE Ratio	57.31	45.92	18.52	25.75	5.85	18.86
Forward PE	21.47	-	-	-	-	-
PS Ratio	1.88	1.82	1.24	0.89	1.09	1.58
PB Ratio	1.77	1.72	1.15	0.92	1.59	2.02
P/TBV Ratio	2.05	1.70	1.19	0.93	1.62	2.04
P/FCF Ratio	25.47	24.65	11.78	28.42	29.70	16.97
P/OCF Ratio	18.02	17.44	9.55	14.35	17.59	13.35
EV/Sales Ratio	1.79	1.71	1.05	0.77	0.91	1.41
EV/EBITDA Ratio	13.34	16.96	6.76	5.74	6.32	14.53
EV/EBIT Ratio	22.95	38.41	10.23	9.34	9.45	14.53
EV/FCF Ratio	24.16	23.21	9.98	24.33	24.88	15.19
Debt / Equity Ratio	0.20	0.20	0.22	0.24	0.13	0.31
Debt / EBITDA Ratio	2.17	2.20	1.59	1.84	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	-1.18	-0.93	-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%	4.08%	1.85%	10.73%	4.86%
Return on Invested Capital (ROIC)	2.41%	2.46%	6.37%	2.54%	15.48%	8.35%
Return on Capital Employed (ROCE)	3.31%	3.20%	6.95%	4.82%	6.49%	8.24%
Earnings Yield	1.74%	2.18%	5.40%	3.88%	17.09%	5.30%
FCF Yield	3.93%	4.06%	8.49%	3.52%	3.37%	5.89%
Dividend Yield	7.49%	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	2.67%	0.00%	-2.62%	-1.59%	1.16%	0.00%
Total Shareholder Return	10.15%	2.54%	0.48%	2.03%	2.61%	0.03%

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