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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

7.67 0.21 +2.82%
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) Price to free cash flow

Alert me on Price to free cash flow

As of 5 November 2026, Nokia Corporation (NOK) trades at a price to free cash flow of 3,933×. Over the past ten years it has ranged from 0.0× (December 2023) to 5,722× (October 2026); the current reading is higher than 99% of that period. That is above the Communication Equipment industry median of 21.7× and above the Technology sector median of 18.7×.

Price to free cash flow, daily

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Annual newest first

Period Price to free cash flow Change
FY2025 20.7× 95.99%
FY2024 10.6× (48.30%)
FY2023 20.5× (25.78%)
FY2022 27.6× 102.04%
FY2021 13.7× (8.11%)
FY2020 14.9× —
FY2019 0.0× —
FY2018 0.0× —
FY2017 18.6× —
FY2016 0.0× —

Quarterly newest first

Period Price to free cash flow Change
Sep 2026 5,289× 4,286.19%
Jun 2026 121× 345.52%
Mar 2026 27.1× 30.47%
Dec 2025 20.7× 19.91%
43 more quarters

Against its own ten years

Low 0.0× High 5,722×
Ten-year median 12.4×
Current reading's percentile 99

Price to free cash flow against peers

Company Price to free cash flow
ASTS AST SpaceMobile, Inc. compare n/m
ERIC Ericsson compare 12.0×
HPE Hewlett Packard Enterprise Company compare 13.1×
ZBRA Zebra Technologies Corporation compare 15.5×
MSI Motorola Solutions, Inc. compare 33.7×
UI Ubiquiti Inc. compare 34.3×
CIEN Ciena Corporation compare 40.8×
LITE Lumentum Holdings Inc. compare 118×
NOK Nokia Corporation 3,933×
Communication Equipment industry median 21.7×
Technology sector median 18.7×
Market median 14.1×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

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