Pricing Log in Create free account
Friday 6 November 2026 Export NOK’s income statement to Excel — free account

Nokia Corporation

NOK Technology Communication Equipment

Nokia Corporation’s revenue for fiscal 2025 (year ended December 2025) was $22.5 billion, up 8.20% from fiscal 2024.

Revenue
+5.12%
EPS
+73.4%
Free cash flow
−112.3%
Total debt
−21.4%

Quarter to September 2026, against a year earlier

7.66 0.20 +2.68%
Market cap
$42.2B
P/E
47.9×
Fwd P/E
—
Dividend yield
2.12%
F-score
6/9
Altman Z
1.98
Beneish M
−2.56
Dividend safety
38/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Nokia Corporation (NOK) Debt to equity

Alert me on Debt to equity

Nokia Corporation's debt to equity at the end of the quarter to 30 September 2026 was 0.1×, down 0.0× from fiscal 2025 (0.2×). Over the past ten years it has ranged from 0.2× (fiscal 2025) to 0.4× (fiscal 2020) — the current reading is the lowest in ten years. That is above the Communication Equipment industry median of 0.0× and above the Technology sector median of 0.1×.

Debt to equity, annual

Embed this chart

Annual newest first

Period Debt to equity Change
FY2025 0.2× (13.50%)
FY2024 0.2× (7.78%)
FY2023 0.2× (2.78%)
FY2022 0.2× (21.58%)
FY2021 0.3× (40.04%)
FY2020 0.4× 60.06%
FY2019 0.3× 11.66%
FY2018 0.2× 7.11%
FY2017 0.2× 20.94%
FY2016 0.2× (2.59%)

Quarterly newest first

Period Debt to equity Change
Sep 2026 0.1× 1.42%
Jun 2026 0.1× 0.81%
Mar 2026 0.1× (31.03%)
Dec 2025 0.2× 4.45%
43 more quarters

Against its own ten years

Low 0.2× High 0.4×
Ten-year median 0.2×
Current reading's percentile 9

Debt to equity against peers

Company Debt to equity
UI Ubiquiti Inc. compare 0.0×
NOK Nokia Corporation 0.1×
LITE Lumentum Holdings Inc. compare 0.3×
ERIC Ericsson compare 0.3×
HPE Hewlett Packard Enterprise Company compare 0.7×
ZBRA Zebra Technologies Corporation compare 0.7×
CIEN Ciena Corporation compare 1.1×
ASTS AST SpaceMobile, Inc. compare 1.2×
MSI Motorola Solutions, Inc. compare 3.0×
Communication Equipment industry median 0.0×
Technology sector median 0.1×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

More on NOK