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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

7.66 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) P/B ratio

Alert me on P/B ratio

As of 6 November 2026, Nokia Corporation (NOK) trades at a P/B ratio of 1.7×. Over the past ten years it has ranged from 0.7× (December 2023) to 3.8× (June 2026); the current reading is higher than 64% of that period. That is in line with the Communication Equipment industry median of 1.7× and below the Technology sector median of 2.5×.

P/B ratio, daily

Embed this chart

Annual newest first

Period P/B ratio Change
FY2025 1.5× 36.12%
FY2024 1.1× 27.48%
FY2023 0.8× (27.33%)
FY2022 1.2× (31.19%)
FY2021 1.7× 10.69%
FY2020 1.5× 27.15%
FY2019 1.2× (32.78%)
FY2018 1.8× 22.08%
FY2017 1.5× 24.58%
FY2016 1.2× (46.58%)

Quarterly newest first

Period P/B ratio Change
Sep 2026 2.2× (25.73%)
Jun 2026 3.0× 66.36%
Mar 2026 1.8× 22.72%
Dec 2025 1.5× 30.18%
43 more quarters

Against its own ten years

Low 0.7× High 3.8×
Ten-year median 1.5×
Current reading's percentile 66

P/B ratio against peers

Company P/B ratio
NOK Nokia Corporation 1.7×
HPE Hewlett Packard Enterprise Company compare 2.3×
ERIC Ericsson compare 3.0×
ASTS AST SpaceMobile, Inc. compare 3.8×
ZBRA Zebra Technologies Corporation compare 4.3×
LITE Lumentum Holdings Inc. compare 10.5×
CIEN Ciena Corporation compare 10.9×
UI Ubiquiti Inc. compare 21.6×
MSI Motorola Solutions, Inc. compare 27.8×
Communication Equipment industry median 1.7×
Technology sector median 2.5×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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