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 4, 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	37,562	36,119	23,803	18,898	25,924	35,050
Market Cap Growth	46.33%	51.74%	25.96%	-27.10%	-26.04%	59.58%
Enterprise Value	35,624	33,997	20,160	16,180	21,719	31,361
PE Ratio	57.70	45.92	18.52	28.09	5.85	18.86
Forward PE	21.38	-	-	-	-	-
PS Ratio	1.89	1.82	1.24	0.89	1.09	1.58
PB Ratio	1.78	1.72	1.15	0.92	1.59	2.02
P/TBV Ratio	1.79	1.70	1.19	0.93	1.62	2.04
P/FCF Ratio	25.64	24.65	11.78	28.42	29.70	16.97
P/OCF Ratio	18.14	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	13.32	16.96	6.69	5.89	6.32	14.53
EV/EBIT Ratio	22.91	38.41	10.09	9.74	9.45	14.53
EV/FCF Ratio	24.32	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	1.58	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	1.73%	2.18%	5.40%	3.56%	17.09%	5.30%
FCF Yield	3.90%	4.06%	8.49%	3.52%	3.37%	5.89%
Dividend Yield	1.98%	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	1.85%	0.17%	5.96%	5.21%	2.61%	0.03%

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