MARKETS / NYSE / Technology / Electronic components / NOK

NYSE · RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT · LARGE CAP

Nokia Corp. NOK

11 fiscal years on record · EUR · FY2025 reported · SEC filings only

Revenue

€19.9B

▲ 3.5% YoY

Net income

€651.0M

▼ 49.0% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

In 2025, Nokia operated with four business groups. Network Infrastructure delivers optical transport, IP routing and switching, and fixed access technology for telecommunication providers, mission critical enterprise and AI and Cloud customers. Cloud and Networks Services provides open, secure, automated and scalable software for its customers. Mobile Networks' portfolio included products for radio access networks and microwave radio for transport, network management and a range of associated services. Nokia Technologies is responsible for managing Nokia's patent portfolio and monetizing Nokia's intellectual property, including patents and technologies. Its customers comprise four broad groups: Telecommunication Providers, AI and Cloud, Mission Critical Enterprise and Defense, and Technology Licensees. Nokia's connectivity technology serves more than 150 countries. In 2025, Nokia celebrated its 160th birthday.

Written from the business description in Nokia Corporation's annual report to the U.S. Securities and Exchange Commission, filed 5 March 2026. Every sentence was checked against that document before publication.

Growth

EUR 19.9B

Revenue, FY2025 · full 11-year series below

Revenue €B Net income €B

FY2025 · Revenue 19.9 · Net income 0.7

10B20B

20152018202120242025

Compound annual growth

Revenue

−5.8%

−1.9%

+4.7%

Net income

−46.5%

−12.5%

EPS, diluted

−45.7%

Dividend / share

−2.9%

Returned to shareholders

+5.1%

+38.5%

+1.0%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at −1.9% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

3 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 4.4% · Net 3.3%

5%10%15%-5%-10%

201520202025

ROE

FY2025 · ROE 3.1%

10%20%-5%-10%-15%

201520202025

Three returns, three denominators.

Return on equity3.1%

Return on assets1.7%

Return on capital employed3.2%

Gross margin43.5%

Operating margin4.4%

Net margin3.3%

EBITDAEUR 2.0B

Each EUR of equity produced 3 cents of profit this year.

Cash & shareholders

EUR 759.0M

returned in FY2025 · dividends + net buybacks

Net buybacks €B Dividends €B

FY2025 · Dividends 0.8 · Net buybacks -0.2

1.0B2.0B-0.1B-0.2BDividendsNet buybacks

201520172019202120232025

Dividends paidEUR 759.0M

Net buybacksEUR -226.0M

Share of profit116.6%

Consecutive raises1 year

EUR 759.0M in dividends — 117% of the year's profit, so the payout drew on cash built up earlier.

Total assetsEUR 37.6B

EquityEUR 21.0B

CashEUR 5.5B

Gross debtEUR 3.4B

Net debtEUR -2.0B

Current ratio1.58×

The company holds more cash than debt.

The 11-year record

11 fiscal years

Every figure from documents filed with the SEC · EUR

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data

NOK, 11-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Revenue €B	19.9	19.2	21.1	23.8	22.2	21.9	23.3	22.6	23.1	23.6	12.6
Operating income €B	0.9	2.0	1.7	2.3	2.2	0.9	0.5	−0.1	0.0	−1.1	1.7
EBITDA €B	2.0	2.9	2.7	3.4	3.3	2.0	2.1	1.4	1.6	0.5	2.0
Income tax €B	0.3	0.4	0.8	−2.0	0.3	3.3	0.1	0.2	0.9	−0.5	0.3
Net income €B	0.7	1.3	0.7	4.2	1.6	−2.5	0.0	−0.3	−1.5	−0.8	2.5
EPS, diluted €	0.12	0.23	0.12	0.75	0.29	−0.45	0.00	−0.06	−0.26	−0.13	0.63
Dividend / sh €	0.11	0.10	0.13	0.12	◌	◌	0.10	0.10	0.17	0.17	0.16
Payout %	117	57	93	8	1	−6	8143	−165	−65	−198	21
ROE %	3.1	6.2	3.2	22.0	10.9	−18.2	0.0	−2.2	−8.2	−5.0	23.4
Shares out B	5.58	5.37	5.53	5.59	5.63	5.62	5.61	5.59	5.58	◌	◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

Nokia Corp.vsWallbox N.v.Same industry: Radio & Tv Broadcasting & Communications Equipment Nokia Corp.vsAds-Tec Energy Public Ltd. Co.Same industry: Radio & Tv Broadcasting & Communications Equipment Nokia Corp.vsTurbo Energy, S.a.Same industry: Radio & Tv Broadcasting & Communications Equipment

Other companies filing in the same sector

GOOG · GOOGL · MSFT · NVDA · META · ORCL

Provenance

Company facts, as filed

How we verify · 0 failures in 52 reconciliationsAUDITED

Reconciled in 11 of the 11 fiscal years we could check. 18 checks were skipped: the balance sheet is not tagged before 2016. Eight checks were skipped: EPS is not tagged before 2015. Eight checks were skipped: revenue is not tagged before 2015.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityRadio & Tv Broadcasting & Communications Equipment

Listed onNYSE

Incorporated inoutside the United States — SEC code H9

Fiscal year endsDecember 31

Data on record since2015