Nokia Oyj (NOK)
NYSE: NOK · Real-Time Price · USD
8.56
-0.75 (-8.06%)
At close: Oct 30, 2026, 4:00 PM EDT
8.54
-0.02 (-0.23%)
After-hours: Oct 30, 2026, 7:59 PM EDT
Nokia Oyj Cash Flow Statement
Financials in millions EUR. Fiscal year is January - December.
Millions EUR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 152 | 2 | 86 | 542 | 78 | 90 | -59 | 820 | 169 | -146 | 434 | -46 | 133 | 290 | 279 | 3,154 | 427 | 457 | 212 | 676 |
Depreciation & Amortization | 205 | 211 | 209 | 284 | 286 | 285 | 264 | 245 | 240 | 268 | 261 | 282 | 267 | 272 | 266 | 296 | 287 | 282 | 274 | 277 |
Loss (Gain) From Sale of Assets | - | - | - | -45 | - | - | - | -132 | 4 | -252 | - | -144 | 1 | 8 | -26 | -35 | - | - | - | -59 |
Asset Writedown & Restructuring Costs | 286 | 362 | 140 | 262 | 32 | 57 | 56 | 104 | 129 | 667 | 82 | 177 | 89 | 55 | 16 | 205 | 13 | 43 | 16 | 54 |
Loss (Gain) From Sale of Investments | - | - | - | - | - | - | - | - | - | - | - | 56 | - | - | - | 88 | -19 | -47 | -49 | -53 |
Loss (Gain) on Equity Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -9 |
Stock-Based Compensation | 104 | 136 | 79 | 337 | 83 | 83 | 72 | 241 | - | - | - | 202 | - | - | - | 149 | - | - | - | 108 |
Other Operating Activities | -89 | -181 | -132 | -330 | 62 | -120 | -51 | -5 | 92 | -22 | -137 | 447 | -74 | -5 | 54 | -2,523 | 42 | 19 | 26 | -135 |
Change in Accounts Receivable | -227 | -280 | 219 | -964 | -353 | 671 | 621 | -1,913 | 357 | 427 | 765 | 618 | -395 | 48 | 33 | -577 | -606 | 383 | 349 | -718 |
Change in Inventory | -131 | -372 | -151 | 208 | 54 | -84 | -29 | 440 | -80 | 12 | 32 | 530 | 37 | -51 | -73 | -57 | -482 | -240 | -212 | 132 |
Change in Other Net Operating Assets | -205 | -498 | 332 | 68 | 355 | -773 | 16 | 408 | -183 | -465 | -370 | -252 | -361 | -950 | -466 | -133 | 729 | -940 | -57 | 213 |
Operating Cash Flow | 95 | -620 | 782 | 375 | 597 | 209 | 890 | 208 | 728 | 489 | 1,067 | 1,870 | -303 | -333 | 83 | 567 | 391 | -43 | 559 | 486 |
Operating Cash Flow Growth (YoY) | -84.09% | - | -12.13% | 80.29% | -18.00% | -57.26% | -16.59% | -88.88% | - | - | 1185.54% | 229.81% | - | - | -85.15% | 16.67% | -46.37% | - | -57.13% | -44.71% |
Investing Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -194 | -129 | -154 | -148 | -168 | -121 | -169 | -158 | -107 | -95 | -112 | -149 | -144 | -127 | -232 | -195 | -116 | -101 | -189 | -159 |
Sale of Property, Plant & Equipment | 42 | 17 | - | 7 | 9 | 7 | 5 | 11 | 30 | 31 | 25 | 46 | 45 | 84 | 14 | - | - | 32 | 1 | 47 |
Cash Acquisitions | -30 | - | - | - | -4 | -740 | -986 | -10 | -21 | -6 | - | - | -19 | - | - | - | -20 | - | - | - |
Divestitures | - | 10 | - | - | - | 40 | - | -129 | - | 100 | - | - | - | -5 | 22 | - | - | - | - | - |
Investment in Securities | -102 | 381 | 104 | -169 | -42 | 490 | 505 | 53 | 9 | 233 | -32 | 200 | 236 | 1,060 | -10 | 248 | -318 | -547 | -647 | -92 |
Other Investing Activities | 3 | - | 1 | -16 | 16 | 76 | 12 | 20 | 6 | 16 | 19 | -4 | -7 | 54 | -21 | 15 | -4 | -13 | -26 | -29 |
Investing Cash Flow | -281 | 279 | -49 | -326 | -189 | -248 | -633 | -213 | -83 | 279 | -100 | 93 | 111 | 1,066 | -227 | 68 | -458 | -629 | -861 | -233 |
Financing Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | 92 | 5 | - | - | - | 9 | - | - | 20 | - | - | - | - | - | - | - | 19 | 5 | 8 | - |
Long-Term Debt Issued | - | 496 | - | - | - | 150 | - | - | - | - | - | - | - | 1 | - | - | - | 3 | 5 | - |
Total Debt Issued | 92 | 501 | -5 | 360 | - | 159 | -1 | 101 | 20 | - | - | - | - | 1 | 495 | -5 | 19 | 8 | 13 | - |
Short-Term Debt Repaid | - | - | - | - | -25 | - | - | - | - | -4 | -36 | - | -16 | -19 | - | - | - | - | - | - |
Long-Term Debt Repaid | -48 | -559 | - | - | -54 | -432 | - | - | -57 | -138 | -428 | - | -55 | -145 | - | - | -47 | -67 | -57 | - |
Lease Payments | -48 | -51 | -55 | -54 | -54 | -59 | -54 | -69 | -57 | -54 | -53 | -57 | -55 | -60 | -67 | -47 | -47 | -66 | -57 | -56 |
Total Debt Repaid | -48 | -559 | -1,088 | -39 | -79 | -432 | -554 | -58 | -57 | -142 | -464 | -76 | -71 | -164 | -766 | -48 | -47 | -67 | -57 | -505 |
Net Debt Issued (Repaid) | 44 | -58 | -1,093 | 321 | -79 | -273 | -555 | 43 | -37 | -142 | -464 | -76 | -71 | -163 | -271 | -53 | -28 | -59 | -44 | -505 |
Issuance of Common Stock | 62 | - | - | 859 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Repurchase of Common Stock | - | - | - | - | - | -78 | -546 | -386 | -196 | -90 | -8 | -45 | -92 | -82 | -81 | -66 | -94 | -93 | -47 | - |
Common Dividends Paid | -226 | -224 | -168 | -162 | -216 | -215 | -161 | -162 | -166 | -225 | -166 | -166 | -171 | -167 | -112 | -111 | -114 | -112 | - | -5 |
Other Financing Activities | - | - | -9 | -504 | - | - | -1 | -4 | - | - | - | -5 | - | - | - | -13 | - | -3 | - | - |
Financing Cash Flow | -120 | -282 | -1,270 | 514 | -295 | -566 | -1,263 | -509 | -399 | -457 | -638 | -292 | -334 | -412 | -464 | -243 | -236 | -267 | -91 | -510 |
Net Cash Flow
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | 7 | 20 | 25 | 7 | -17 | -141 | -75 | 66 | -57 | 9 | -2 | -42 | 25 | -42 | -32 | -121 | 42 | 55 | 43 | 45 |
Miscellaneous Cash Flow Adjustments | - | - | - | - | - | -1 | 1 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net Cash Flow | -299 | -603 | -512 | 570 | 96 | -747 | -1,080 | -448 | 189 | 320 | 327 | 1,629 | -501 | 279 | -640 | 271 | -261 | -884 | -350 | -212 |
Free Cash Flow
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | -99 | -749 | 628 | 227 | 429 | 88 | 721 | 50 | 621 | 394 | 955 | 1,721 | -447 | -460 | -149 | 372 | 275 | -144 | 370 | 327 |
Free Cash Flow Growth (YoY) | - | - | -12.90% | 354.00% | -30.92% | -77.66% | -24.50% | -97.09% | - | - | - | 362.63% | - | - | - | 13.76% | -54.17% | - | -67.69% | -55.81% |
Free Cash Flow Margin | -1.92% | -15.56% | 14.17% | 3.71% | 9.13% | 1.98% | 16.77% | 0.84% | 14.36% | 8.82% | 21.49% | 31.78% | -9.49% | -8.46% | -2.67% | 4.99% | 4.41% | -2.45% | 6.92% | 5.10% |
Free Cash Flow Per Share | -0.02 | -0.13 | 0.11 | 0.04 | 0.08 | 0.02 | 0.13 | 0.01 | 0.11 | 0.07 | 0.17 | 0.31 | -0.08 | -0.08 | -0.03 | 0.07 | 0.05 | -0.03 | 0.07 | 0.06 |
Levered Free Cash Flow | 472.13 | -206.25 | 1,098 | 127.38 | 382.13 | 218.13 | -9.88 | 822 | 614.75 | 187.88 | 1,132 | 2,087 | -550.63 | -428.5 | -166.88 | -432.25 | 524.63 | 253.25 | 960.63 | 209.25 |
Unlevered Free Cash Flow | 472.13 | -206.25 | 1,098 | 236.75 | 393.38 | 218.13 | -9.88 | 1,026 | 621.63 | 187.88 | 1,132 | 2,245 | -526.88 | -396.63 | -158.75 | -317.88 | 524.63 | 270.75 | 985.63 | 251.75 |
Free Cash Flow After Leases | -147 | -800 | 573 | 173 | 375 | 29 | 667 | -19 | 564 | 340 | 902 | 1,664 | -502 | -520 | -216 | 325 | 228 | -210 | 313 | 271 |
Additional Metrics
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 42 | 53 | 53 | 44 | 46 | 53 | 69 | 50 | 73 | 56 | 84 | 63 | 72 | 55 | 51 | 36 | 34 | 54 | 56 | 42 |
Cash Income Tax Paid | 69 | 139 | 90 | 102 | 72 | 131 | 91 | 40 | 68 | 112 | 122 | 91 | 153 | 197 | 135 | 92 | 98 | 94 | 97 | 107 |
Change in Working Capital | -563 | -1,150 | 400 | -688 | 56 | -186 | 608 | -1,065 | 94 | -26 | 427 | 896 | -719 | -953 | -506 | -767 | -359 | -797 | 80 | -373 |