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Research

Nokia: Market situation forces to defensive positions

By Atte RiikolaAnalyst
Nokia
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Nokia's market situation has continued to deteriorate, and the company will have to make significant cost savings in the coming years to defend its profitability. With a declining earnings trend, it is difficult to see any material upside to the share's low valuation multiples and future restructuring costs will erode free cash flow in the coming years. The company should still be able to generate a reasonably good cash flow in the coming years, which will be returned to shareholders. However, relying on this alone does not provide a sufficiently attractive expected return.

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Nokia is a global telecommunications company. The company offers solutions in IP, broadband, digital health, and cloud-based systems. The customers are found in a broad base of markets and consist of large corporate customers, authorities, and private consumers. The business is established on a global level in all regions. Nokia was founded in 1865 and the head office is located in Esbo, Finland.

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Key Estimate Figures19.10.2023

202223e24e
Revenue24,911.023,214.522,403.5
growth-%12.2 %-6.8 %-3.5 %
EBIT (adj.)3,109.02,723.82,522.7
EBIT-% (adj.)12.5 %11.7 %11.3 %
EPS (adj.)0.440.350.33
Dividend0.120.160.18
Dividend %2.8 %1.9 %2.1 %
P/E (adj.)9.924.726.0
EV/EBITDA6.214.016.4

Forum discussions

NOKIA: ADJUSTED OPERATING PROFIT OF EUR 250 MILLION EXPECTED IN THE FIRST QUARTER – INFRONT STOCKHOLM (Direkt News Agency) According to a summary...
3 hours ago
by 0-Kelvin
6
A blue-sky value of 10€, once we get past this Q1 result and Ericsson—at least a good chance.
4 hours ago
by Prototyping
4
13.4.26 Nordea analyzes Nokia
4 hours ago
by Oxymoron 007
7
Domestic deal https://www.nokia.com/newsroom/nokia-and-cinia-partner-to-secure-finlands-critical-infrastructure-with-advanced-ddos-protection...
12 hours ago
by ruuki
12
Isn’t Cramer the inverse Midas of stocks? Now I’m starting to get nervous.
15 hours ago
by Af Ämbar
11
On “Mad Money,” Jim Cramer said during a coughing fit that Nokia still has 30% upside. If nothing else, Nokia is now getting positive exposure...
19 hours ago
by Mustathmir
8
Two Sigma has slightly changed their position from 0.81 → 0.79; their average price has likely also become more favorable.
yesterday
by ruuki
8
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