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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

7.69 0.23 +3.08%
Market cap
$42.2B
P/E
47.1×
Fwd P/E
—
Dividend yield
2.16%
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) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, Nokia Corporation (NOK) trades at a EV/EBITDA of 19.6×. Over the past ten years it has ranged from 4.0× (December 2023) to 53.3× (September 2016); the current reading is higher than 82% of that period. That is above the Communication Equipment industry median of 14.0× and above the Technology sector median of 14.5×.

EV/EBITDA, daily

Embed this chart

Annual newest first

Period EV/EBITDA Change
FY2025 13.8× 138.79%
FY2024 5.8× 19.22%
FY2023 4.8× (17.55%)
FY2022 5.9× (22.50%)
FY2021 7.6× (7.44%)
FY2020 8.2× 5.43%
FY2019 7.8× (55.29%)
FY2018 17.4× 47.00%
FY2017 11.8× (69.47%)
FY2016 38.7× 406.96%

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 26.8× (20.53%)
Jun 2026 33.8× 96.29%
Mar 2026 17.2× 24.78%
Dec 2025 13.8× 55.91%
43 more quarters

Against its own ten years

Low 4.0× High 53.3×
Ten-year median 9.1×
Current reading's percentile 82

EV/EBITDA against peers

Company EV/EBITDA
ASTS AST SpaceMobile, Inc. compare n/m
ERIC Ericsson compare 8.8×
HPE Hewlett Packard Enterprise Company compare 9.2×
ZBRA Zebra Technologies Corporation compare 14.9×
NOK Nokia Corporation 19.6×
UI Ubiquiti Inc. compare 25.7×
MSI Motorola Solutions, Inc. compare 26.1×
CIEN Ciena Corporation compare 37.0×
LITE Lumentum Holdings Inc. compare 40.7×
Communication Equipment industry median 14.0×
Technology sector median 14.5×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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