Nokia Valuation Multiples

Nokia Overview

About Nokia

Nokia provides telecom equipment and services that are used to build wireless and fixed-line networks. It operates in four segments. The mobile networks segment sells equipment and services to telecom carriers to power public wireless networks. Network infrastructure focuses on fixed-line networks, including switching and routing equipment, optical components, and devices used in fiber-to-the-premises networks. The cloud and network services segment develops software used to operate the core of carrier wireless networks and build private networks for enterprises. Nokia also has a sizable research and patent business, where it licenses technology used by handset providers, consumer electronics firms, and other firms making electronic and Internet of Things products.

Founded

1865

HQ

Employees

78.4K

Website

nokia.com

Sectors

Networking HardwareTelecom Infrastructure

Financials (LTM)

Revenue: $24B

EBITDA: $3B

EV

$54B

Valuation Multiples

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Nokia Financials

Nokia reported last 12-month revenue of $24B and EBITDA of $3B.

In the same LTM period, Nokia generated $11B in gross profit, $3B in EBITDA, and $2B in net income.

Nokia P&L

In the most recent fiscal year, Nokia reported revenue of $24B and EBITDA of $3B.

Nokia expects next 12-month revenue of XXX and NTM EBITDA of XXX

Nokia Stock Performance

Nokia has current market cap of $57B, and enterprise value of $54B.

Nokia's stock price is $10.21.

Nokia Valuation Multiples

Nokia trades at 2.3x EV/Revenue multiple, and 16.5x EV/EBITDA.

Nokia Financial Valuation Multiples

As of April 18, 2026, Nokia has market cap of $57B and EV of $54B.

Equity research analysts estimate Nokia's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Nokia has a P/E ratio of 29.0x.

Nokia Margins & Growth Rates

Nokia's revenue in the last 12 month grew by 3%.

Nokia's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

Nokia's rule of 40 is 18% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Nokia's rule of X is 24% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Nokia Public Comps

See public comps and valuation multiples for other Networking Hardware and Telecom Infrastructure comps.

Nokia M&A Activity

Nokia acquired XXX companies to date.

Last acquisition by Nokia was on XXXXXXXX, XXXXX. Nokia acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Nokia Investment Activity

Nokia invested in XXX companies to date.

Nokia made its latest investment on XXXXXXXX, XXXXX. Nokia invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).