NOKIA
NOK · NYSERadio & Tv Broadcasting & Communications Equipment · Fiscal year ends Dec 31 · Reports in EUR
Net income was EUR 660M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cost of revenue | EUR 13.4B | EUR 13.7B | EUR 12.6B | EUR 10.4B | EUR 11.2B |
| Gross profit | EUR 8.8B | EUR 10.1B | EUR 8.5B | EUR 8.9B | EUR 8.7B |
| Research & development | EUR 4.2B | EUR 4.5B | EUR 4.3B | EUR 4.5B | EUR 4.9B |
| Selling, general & admin | EUR 2.8B | EUR 3B | EUR 2.9B | EUR 2.9B | EUR 3.1B |
| Operating income | EUR 2.2B | EUR 2.3B | EUR 1.7B | EUR 2B | EUR 885M |
| Interest expense | EUR 310M | EUR 282M | EUR 579M | EUR 320M | EUR 246M |
| Pre-tax income | EUR 1.9B | EUR 2.2B | EUR 1.5B | EUR 2.1B | EUR 915M |
| Income tax | EUR 272M | −EUR 2B | EUR 820M | EUR 380M | EUR 277M |
| Net income | EUR 1.6B | EUR 4.3B | EUR 679M | EUR 1.3B | EUR 660M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | EUR 6.7B | EUR 5.5B | EUR 6.2B | EUR 6.6B | EUR 5.5B |
| Receivables | EUR 5.4B | EUR 5.5B | EUR 4.9B | EUR 5.2B | EUR 5B |
| Inventory | EUR 2.4B | EUR 3.3B | EUR 2.7B | EUR 2.2B | EUR 2.2B |
| Current assets | EUR 19.6B | EUR 20.3B | – | EUR 18B | EUR 15.8B |
| Net PP&E | EUR 1.9B | EUR 2B | EUR 2B | EUR 1.4B | EUR 1.6B |
| Goodwill | – | EUR 5.7B | EUR 5.5B | EUR 5.7B | EUR 6B |
| Total assets | EUR 40B | EUR 42.9B | EUR 39.9B | EUR 39.1B | EUR 37.6B |
| Payables | EUR 3.7B | EUR 4.7B | EUR 3.4B | EUR 3.2B | EUR 3B |
| Current liabilities | EUR 12.1B | EUR 12.8B | EUR 10.9B | EUR 11.4B | EUR 10B |
| Total liabilities | EUR 22.6B | EUR 21.5B | EUR 19.2B | EUR 18.4B | EUR 16.5B |
| Shareholders' equity | EUR 17.4B | EUR 21.3B | EUR 20.5B | EUR 20.7B | EUR 21B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | EUR 2.6B | EUR 1.5B | EUR 1.3B | EUR 2.5B | EUR 2.1B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating income growth (YoY) | – | 6.5% | −24.6% | 13.7% | −55.1% |
| Return on equityBlank when equity is negative | 9.5% | 20.0% | 3.3% | 6.2% | 3.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 7.7% | 7.6% | 6.0% | 7.1% | 3.2% |
| Cash conversion (CFO ÷ net income) | 1.60x | 0.35x | 1.94x | 1.94x | 3.14x |
| Inventory days | 65 | 87 | 79 | 76 | 72 |
| Payable days | 100 | 126 | 99 | 113 | 97 |
| Interest cover | 6.96x | 8.15x | 2.99x | 6.16x | 3.60x |
| Current ratio | 1.62x | 1.59x | – | 1.58x | 1.58x |
Recent filings
More in Radio & Tv Broadcasting & Communications Equipment
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.