Switch to:

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash to Debt 2.97
NOK's Cash to Debt is ranked higher than
74% of the 707 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.33 vs. NOK: 2.97 )
NOK' s 10-Year Cash to Debt Range
Min: 0.64   Max: 50.41
Current: 2.97

0.64
50.41
Equity to Asset 0.41
NOK's Equity to Asset is ranked higher than
52% of the 685 Companies
in the Global Communication Equipment industry.

( Industry Median: 0.57 vs. NOK: 0.41 )
NOK' s 10-Year Equity to Asset Range
Min: 0.26   Max: 0.63
Current: 0.41

0.26
0.63
Interest Coverage 0.43
NOK's Interest Coverage is ranked lower than
61% of the 453 Companies
in the Global Communication Equipment industry.

( Industry Median: 161.80 vs. NOK: 0.43 )
NOK' s 10-Year Interest Coverage Range
Min: 0.43   Max: 9999.99
Current: 0.43

0.43
9999.99
F-Score: 6
Z-Score: 2.56
M-Score: -1.36
WACC vs ROIC
12.93%
28.97%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 1.33
NOK's Operating margin (%) is ranked higher than
62% of the 700 Companies
in the Global Communication Equipment industry.

( Industry Median: 3.45 vs. NOK: 1.33 )
NOK' s 10-Year Operating margin (%) Range
Min: -7.63   Max: 22.99
Current: 1.33

-7.63
22.99
Net-margin (%) 27.19
NOK's Net-margin (%) is ranked higher than
97% of the 700 Companies
in the Global Communication Equipment industry.

( Industry Median: 3.23 vs. NOK: 27.19 )
NOK' s 10-Year Net-margin (%) Range
Min: -10.29   Max: 27.19
Current: 27.19

-10.29
27.19
ROE (%) 47.24
NOK's ROE (%) is ranked higher than
99% of the 696 Companies
in the Global Communication Equipment industry.

( Industry Median: 4.99 vs. NOK: 47.24 )
NOK' s 10-Year ROE (%) Range
Min: -31.16   Max: 53.84
Current: 47.24

-31.16
53.84
ROA (%) 15.64
NOK's ROA (%) is ranked higher than
97% of the 708 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.87 vs. NOK: 15.64 )
NOK' s 10-Year ROA (%) Range
Min: -9.39   Max: 23.91
Current: 15.64

-9.39
23.91
ROC (Joel Greenblatt) (%) 27.56
NOK's ROC (Joel Greenblatt) (%) is ranked higher than
85% of the 707 Companies
in the Global Communication Equipment industry.

( Industry Median: 9.58 vs. NOK: 27.56 )
NOK' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -141.72   Max: 437.25
Current: 27.56

-141.72
437.25
Revenue Growth (3Y)(%) -33.40
NOK's Revenue Growth (3Y)(%) is ranked lower than
54% of the 577 Companies
in the Global Communication Equipment industry.

( Industry Median: 3.20 vs. NOK: -33.40 )
NOK' s 10-Year Revenue Growth (3Y)(%) Range
Min: -33.4   Max: 48.3
Current: -33.4

-33.4
48.3
EBITDA Growth (3Y)(%) -5.40
NOK's EBITDA Growth (3Y)(%) is ranked higher than
69% of the 439 Companies
in the Global Communication Equipment industry.

( Industry Median: 0.30 vs. NOK: -5.40 )
NOK' s 10-Year EBITDA Growth (3Y)(%) Range
Min: -57.9   Max: 65.1
Current: -5.4

-57.9
65.1
» NOK's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2014

NOK Guru Trades in Q1 2014

Richard Perry 13,167,859 sh (New)
David Einhorn 3,500,000 sh (New)
George Soros 3,251,910 sh (New)
Julian Robertson 144,400 sh (+87.05%)
John Rogers 1,360,374 sh (+35.89%)
Ken Fisher 12,277 sh (+3.37%)
Caxton Associates 4,000,000 sh (unchged)
Francis Chou 5,000,000 sh (unchged)
Jeff Auxier 13,960 sh (unchged)
Daniel Loeb 4,500,000 sh (unchged)
Dodge & Cox 153,941,671 sh (unchged)
Andreas Halvorsen Sold Out
Dodge & Cox 145,125,971 sh (-5.73%)
Steven Cohen 631,959 sh (-84.54%)
Jim Simons 440,300 sh (-88.38%)
» More
Q2 2014

NOK Guru Trades in Q2 2014

Lee Ainslie 4,215,343 sh (New)
Jim Simons 6,625,900 sh (+1404.86%)
Richard Perry 20,200,000 sh (+53.40%)
John Rogers 2,031,903 sh (+49.36%)
Julian Robertson 162,200 sh (+12.33%)
Francis Chou 5,000,000 sh (unchged)
David Einhorn Sold Out
Daniel Loeb Sold Out
Jeff Auxier 13,760 sh (-1.43%)
Dodge & Cox 141,935,671 sh (-2.20%)
Ken Fisher 11,877 sh (-3.26%)
George Soros 350,000 sh (-89.24%)
» More
Q3 2014

NOK Guru Trades in Q3 2014

David Einhorn 7,831,800 sh (New)
John Rogers 2,476,136 sh (+21.86%)
Ken Fisher 12,277 sh (+3.37%)
Julian Robertson 165,200 sh (+1.85%)
Francis Chou 5,000,000 sh (unchged)
Jeff Auxier 13,760 sh (unchged)
George Soros Sold Out
Richard Perry 16,950,000 sh (-16.09%)
Jim Simons 4,706,551 sh (-28.97%)
Dodge & Cox 72,176,891 sh (-49.15%)
Lee Ainslie 667,420 sh (-84.17%)
» More
Q4 2014

NOK Guru Trades in Q4 2014

Jim Simons 7,559,600 sh (+60.62%)
John Rogers 3,828,176 sh (+54.60%)
Richard Perry 25,508,674 sh (+50.49%)
Dodge & Cox 32,788,214 sh (unchged)
Jeff Auxier 13,760 sh (unchged)
David Einhorn 7,831,800 sh (unchged)
Francis Chou 5,000,000 sh (unchged)
Lee Ainslie Sold Out
Ken Fisher 12,177 sh (-0.81%)
Dodge & Cox 32,788,214 sh (-54.57%)
Julian Robertson 73,200 sh (-55.69%)
» More
» Details

Insider Trades

Latest Guru Trades with NOK

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)



No Guru Trades Found!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Guru Investment Theses on Nokia Oyj

Daniel Loeb Comments on Nokia Corp. - Oct 23, 2013

Equity Position: Nokia Corporation ("Nokia") (NOK) We purchased Nokia late in the third quarter following the announced sale of its Devices and Services ("D&S") business to Microsoft for €5.44 billion in an all-cash transaction. Expected to close in Q1 2014, the deal provides €3.8 billion for the D&S business and €1.6 billion for a 10-year non-exclusive patent licensing agreement. Once the transaction is complete, "new" Nokia will consist of the Nokia Siemens Networks ("NSN"), the HERE maps business, and a patent portfolio known as Advanced Technologies.

At our purchase price, we seized an opportunity to create new Nokia at a substantial discount to target value. The company will have approximately €8 billion of net cash when the transaction closes, and we expect a meaningful portion of the excess will be distributed to shareholders in coming quarters. Either a buyback or a special dividend is possible, which should draw additional investors to new Nokia when the cash return scenario develops following the deal closing.

The de facto spin of the D&S business leaves Nokia with a significantly different strategic and operational profile, with 40% of today's market capitalization reflected in pro forma net cash and a portfolio of three distinct businesses each generating positive free cash flow. Each of Nokia's businesses has interesting opportunities and dynamics. In the case of NSN, years of restructuring have resulted in a more profitable business, while the market structure has improved following years of consolidation ahead of a global 4G upgrade cycle. Having acquired Siemens' 50% stake in NSN this summer at a very attractive valuation, Nokia now has greater control over the operating and strategic prospects for the business. The HERE maps business has exceptional share in the built-in automotive navigation market (estimated at 80 – 90%) along with significant potential in portable navigation, an increasingly strategic area for smartphone vendors.

The Advanced Technologies intellectual property licensing business has historically operated on a net basis in commercial agreements with other smartphone vendors. Going forward, Nokia has the opportunity to realize royalty revenues on a gross basis and focus on a broader licensing program of its 10,000 patent families, which include leadership positions in 2G/3G/4G standard essential patents, as well as a broad array of non-standard essential patents. Nokia's patent portfolio has been successfully defended in court and via settlement agreements over the years, enhancing its licensing prospects and strategic value.

For years, the investment case for Nokia has centered on the prospects for the handset business with little emphasis on NSN, the maps business or the intellectual property licensing opportunity. We think the repositioning of the "new" Nokia story will take time for the broader investment community to absorb, which allows us to initiate the position at such a significant discount. Meanwhile, the prospect of a substantial one-time capital return and possible reinstatement of a regular dividend further enhance our upside potential. Nokia's commitment to return excess capital and the attractive price paid for Siemens' 50% stake in NSN suggest Nokia's leadership will remain prudent in capital allocation decisions going forward.

Event-driven situations like the Nokia/Microsoft transaction are the bread and butter of our strategy. We have recently seen an increase in the number of these opportunities and welcome the chance to populate the portfolio with them.

From Daniel Loeb's Third Point third quarter 2013 letter to shareholders.


Check out Daniel Loeb latest stock trades

Ratios

vs
industry
vs
history
P/E(ttm) 8.10
NOK's P/E(ttm) is ranked higher than
95% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 78.40 vs. NOK: 8.10 )
NOK' s 10-Year P/E(ttm) Range
Min: 7.13   Max: 64.73
Current: 8.1

7.13
64.73
Forward P/E 14.99
NOK's Forward P/E is ranked higher than
88% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 0.00 vs. NOK: 14.99 )
N/A
PE(NRI) 24.40
NOK's PE(NRI) is ranked higher than
79% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 81.00 vs. NOK: 24.40 )
NOK' s 10-Year PE(NRI) Range
Min: 7.09   Max: 149.88
Current: 24.4

7.09
149.88
P/B 3.00
NOK's P/B is ranked higher than
60% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.38 vs. NOK: 3.00 )
NOK' s 10-Year P/B Range
Min: 0.59   Max: 8.35
Current: 3

0.59
8.35
P/S 2.30
NOK's P/S is ranked higher than
58% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.59 vs. NOK: 2.30 )
NOK' s 10-Year P/S Range
Min: 0.16   Max: 6.49
Current: 2.3

0.16
6.49
PFCF 31.50
NOK's PFCF is ranked higher than
77% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 187.92 vs. NOK: 31.50 )
NOK' s 10-Year PFCF Range
Min: 5.66   Max: 149.88
Current: 31.5

5.66
149.88
POCF 22.84
NOK's POCF is ranked higher than
72% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 22.84 vs. NOK: 22.84 )
NOK' s 10-Year POCF Range
Min: 4.87   Max: 59.95
Current: 22.84

4.87
59.95
EV-to-EBIT 125.83
NOK's EV-to-EBIT is ranked higher than
67% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 57.67 vs. NOK: 125.83 )
NOK' s 10-Year EV-to-EBIT Range
Min: -11.7   Max: 1132
Current: 125.83

-11.7
1132
Shiller P/E 80.50
NOK's Shiller P/E is ranked higher than
78% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 0.00 vs. NOK: 80.50 )
NOK' s 10-Year Shiller P/E Range
Min: 2.26   Max: 84.64
Current: 80.5

2.26
84.64
Current Ratio 1.88
NOK's Current Ratio is ranked higher than
62% of the 699 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.10 vs. NOK: 1.88 )
NOK' s 10-Year Current Ratio Range
Min: 1.2   Max: 2.45
Current: 1.88

1.2
2.45
Quick Ratio 1.71
NOK's Quick Ratio is ranked higher than
70% of the 699 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.71 vs. NOK: 1.71 )
NOK' s 10-Year Quick Ratio Range
Min: 0.86   Max: 2.28
Current: 1.71

0.86
2.28
Days Inventory 56.77
NOK's Days Inventory is ranked higher than
78% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 74.00 vs. NOK: 56.77 )
NOK' s 10-Year Days Inventory Range
Min: 21.19   Max: 108.85
Current: 56.77

21.19
108.85
Days Sales Outstanding 98.33
NOK's Days Sales Outstanding is ranked higher than
61% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 81.31 vs. NOK: 98.33 )
NOK' s 10-Year Days Sales Outstanding Range
Min: 52.26   Max: 101.17
Current: 98.33

52.26
101.17

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.80
NOK's Dividend Yield is ranked higher than
54% of the 380 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.90 vs. NOK: 1.80 )
NOK' s 10-Year Dividend Yield Range
Min: 1.5   Max: 18.35
Current: 1.8

1.5
18.35
Dividend growth (3y) -35.00
NOK's Dividend growth (3y) is ranked higher than
63% of the 212 Companies
in the Global Communication Equipment industry.

( Industry Median: 8.10 vs. NOK: -35.00 )
NOK' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 17.1
Current: -35

0
17.1
Yield on cost (5-Year) 1.80
NOK's Yield on cost (5-Year) is ranked higher than
54% of the 384 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.90 vs. NOK: 1.80 )
NOK' s 10-Year Yield on cost (5-Year) Range
Min: 1.5   Max: 18.35
Current: 1.8

1.5
18.35
Share Buyback Rate -3.70
NOK's Share Buyback Rate is ranked higher than
64% of the 494 Companies
in the Global Communication Equipment industry.

( Industry Median: -0.70 vs. NOK: -3.70 )
NOK' s 10-Year Share Buyback Rate Range
Min: 5.1   Max: -3.7
Current: -3.7

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 4.50
NOK's Price/Tangible Book is ranked higher than
61% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 3.69 vs. NOK: 4.50 )
NOK' s 10-Year Price/Tangible Book Range
Min: 1.98   Max: 41.23
Current: 4.5

1.98
41.23
Price/DCF (Projected) 1.50
NOK's Price/DCF (Projected) is ranked higher than
83% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 74.50 vs. NOK: 1.50 )
NOK' s 10-Year Price/DCF (Projected) Range
Min: 0.34   Max: 19.55
Current: 1.5

0.34
19.55
Price/Median PS Value 1.70
NOK's Price/Median PS Value is ranked higher than
57% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 1.25 vs. NOK: 1.70 )
NOK' s 10-Year Price/Median PS Value Range
Min: 0.29   Max: 6.02
Current: 1.7

0.29
6.02
Price/Graham Number 2.10
NOK's Price/Graham Number is ranked higher than
79% of the 763 Companies
in the Global Communication Equipment industry.

( Industry Median: 7.17 vs. NOK: 2.10 )
NOK' s 10-Year Price/Graham Number Range
Min: 1.71   Max: 13.23
Current: 2.1

1.71
13.23
Earnings Yield (Greenblatt) 0.80
NOK's Earnings Yield (Greenblatt) is ranked higher than
63% of the 694 Companies
in the Global Communication Equipment industry.

( Industry Median: 2.30 vs. NOK: 0.80 )
NOK' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.1   Max: 19
Current: 0.8

0.1
19
Forward Rate of Return (Yacktman) -21.12
NOK's Forward Rate of Return (Yacktman) is ranked higher than
55% of the 341 Companies
in the Global Communication Equipment industry.

( Industry Median: 8.64 vs. NOK: -21.12 )
NOK' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -16   Max: 48.5
Current: -21.12

-16
48.5

Business Description

Industry: Communication Equipment » Communication Equipment
Compare:PTFRY, QCOM, CSCO, ERIC, JNPR » details
Traded in other countries:0HAF.UK, NOKA.Netherlands, NOK1V.Italy, NOK1V.Finland, NOKI SEK.Sweden, NOKBF.USA, NOAA.Germany, NOA3.Germany, NOK1VM0114.Finland, NOK N.Mexico,
Nokia Oyj is a mobile communications company. The Company has three business: Networks, HERE, and Technologies and four business segments: mobile Broadband and Global Services within Networks, HERE, and Technologies. Networks also contains Networks Other, which includes net sales and related cost of sales and operating expenses of non-core businesses, as well as Optical Networks business until May 6, 2013. It also includes restructuring and associated charges for Nokia Solutions and Networks business. The Company's competitors includes Ericsson, Alcatel-Lucent, Huawei, ZTE, Samsung Electronics, Cisco Systems, Oracle and NEC.
» More Articles for NOK

Headlines

Articles On GuruFocus.com
Casino Companies Beware Of Microsoft’s Mistakes Mar 18 2015 
Will Nokia Finally Reward Investors in 2015? Feb 24 2015 
Microsoft Focusing On Mobility Feb 24 2015 
Nokia On Rejuvenation Path While Samsung Struggles To Keep Its Lead Feb 20 2015 
Can Synaptics Bounce Back After Weak Results? Feb 17 2015 
Richard Perry's Fourth-Quarter Transactions Had High Impact on Portfolio Feb 16 2015 
Microsoft: Wading Through Short-Term Noise Feb 02 2015 
Is Microsoft A Profitable Investment To Hold On To? Jan 30 2015 
Red Hat's Focus on Partnerships Will Help It Accelerate Revenue Growth Jan 28 2015 
Game-Changing Mergers And Acquisitions of 2014 Jan 20 2015 

More From Our Partners
BlackBerry Q4 Earnings Beat Estimates, Revenues Lag - Analyst Blog Mar 27 2015 - ZACKS

More From Other Websites
Disruptive technology blurs the lines between industries Apr 01 2015
Telecom Has a Facebook Problem Genband CEO Walsh Thinks He Can Ameliorate Mar 31 2015
Microsoft Vastly Expands Windows 10 Technical Preview To Dozens Of Smartphones Mar 29 2015
Android Circuit: Samsung Galaxy S6 Reviewed, Android Beats iOS UI, Cyanogen's Billion Ambition Mar 27 2015
BlackBerry Q4 Earnings Beat Estimates, Revenues Lag - Analyst Blog Mar 27 2015
Nokia published its Nokia in 2014 annual report Mar 27 2015
Notification under Chapter 9, Section 10 of the Finnish Securities Market Act: holdings of Dodge &... Mar 27 2015
Nokia-Fueled Boom Years Leave Finns With Stagnant Pay Mar 27 2015
NOKIA CORP Financials Mar 26 2015
Woodford Investment Management funds invest NOK 297 million (circa USD 37 million) in IDEX ASA Mar 26 2015
UPDATE: Nokia Is On Track To Beat, JP Morgan Says Mar 24 2015
Dividend of NOK 1.25 per share Mar 24 2015
Conversion of Nokia Corporation's convertible bond into Nokia shares Mar 20 2015
Nokia has filed its annual report on Form 20-F 2014 with the US Securities and Exchange Commission Mar 19 2015
Ciena Poised to Grow on Acquisitions; US Market Woes Persist - Analyst Blog Mar 19 2015
Lenovo takes the torch from Nokia, commits to Windows Phone Mar 18 2015
Western Digital (WDC) Unit Wraps Up Amplidata Buyout - Analyst Blog Mar 17 2015
Bergen Group – Interim Report for Q4 2014 Mar 16 2015
2014 Management Report & Analysis Mar 16 2015
How would you change Nokia's Lumia 625? Mar 15 2015

Personalized Checklist

Checklist has been moved to "Checklist" tab.

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK