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Nokia Corp

NOK
Exchange
NYSE
Industry
Radio & Tv Broadcasting & Communications Equipment
SEC CIK
0000924613

No open-market purchases or sales by Nokia Corp insiders were filed in the last 90 days; 792 institutions reported holding it in 13F filings for Q2 2026, worth $13.4B in total; no superinvestor holds it.

Other share classesNOKBF

Currency
EUR
Source
SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
Updated
Oct 8, 2026, 11:59 AM ET

Amounts are in EUR, the currency Nokia Corp reports in. Lines marked ≈ US$ convert key figures to US dollars.

Revenue flow, FY2025

Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.

Income statement

Each column is one fiscal year, newest first.

Income statement of Nokia Corp, annual
Line itemFY2025FY2024FY2023FY2022FY2021
Period endDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021
Filing20-F20-F20-F20-F20-F
Reported–––––
RevenueEUR 19.9B≈ US$22.5BEUR 19.2B≈ US$20.8BEUR 22.3B≈ US$24.1BEUR 24.9B≈ US$26.2BEUR 22.2B≈ US$26.3B
Cost of revenueEUR 11.2BEUR 10.4BEUR 13.6BEUR 14.7BEUR 13.4B
Gross profitEUR 8.66BEUR 8.86BEUR 8.69BEUR 10.2BEUR 8.83B
Research and developmentEUR 4.86BEUR 4.51BEUR 4.33BEUR 4.55BEUR 4.21B
Selling, general and administrativeEUR 3.07BEUR 2.89BEUR 2.93BEUR 3.01BEUR 2.79B
Operating incomeEUR 885.0MEUR 2.00BEUR 1.69BEUR 2.32BEUR 2.16B
Interest expenseEUR 246.0MEUR 320.0MEUR 575.0MEUR 194.0MEUR 284.0M
Income taxEUR 277.0MEUR 380.0MEUR 825.0MEUR -2.03BEUR 272.0M
Net incomeEUR 660.0M≈ US$746.2MEUR 1.28B≈ US$1.39BEUR 679.0M≈ US$734.4MEUR 4.26B≈ US$4.49BEUR 1.65B≈ US$1.95B
EPS, basicEUR 0.12EUR 0.23EUR 0.12EUR 0.76EUR 0.29
EPS, dilutedEUR 0.12EUR 0.23EUR 0.12EUR 0.75EUR 0.29
Weighted shares, basic5.42B5.48B5.55B5.61B5.63B
Weighted shares, diluted5.50B5.53B5.59B5.67B5.68B
Margins and growth
Gross margin43.5%46.1%39.0%41.0%39.8%
Operating margin4.4%10.4%7.6%9.3%9.7%
Net margin3.3%6.7%3.1%17.1%7.4%
Revenue growth, year over year+3.5%−13.6%−10.6%+12.2%+1.6%
Net income growth, year over year−48.6%+89.1%−84.1%+158.9%–

Balance sheet

Each column is one fiscal year, newest first.

Balance sheet of Nokia Corp, annual
Line itemFY2025FY2024FY2023FY2022FY2021
Period endDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021
Filing20-F20-F20-F20-F20-F
Reported–––––
Cash and equivalentsEUR 5.46BEUR 6.62BEUR 6.23BEUR 5.47BEUR 6.69B
Accounts receivableEUR 4.97BEUR 5.25BEUR 4.92BEUR 5.55BEUR 5.38B
InventoryEUR 2.21BEUR 2.16BEUR 2.72BEUR 3.27BEUR 2.39B
Total current assetsEUR 15.8B––EUR 20.3BEUR 19.6B
Property, plant and equipmentEUR 1.57BEUR 1.36BEUR 1.95BEUR 2.02BEUR 1.92B
GoodwillEUR 6.00BEUR 5.74BEUR 5.50B––
Intangible assetsEUR 1.40BEUR 802.0MEUR 1.09BEUR 1.26BEUR 1.62B
Total assetsEUR 37.6B≈ US$44.1BEUR 39.1B≈ US$40.5BEUR 39.9B≈ US$44.1BEUR 42.9B≈ US$45.9BEUR 40.0B≈ US$45.3B
Accounts payableEUR 2.98BEUR 3.21BEUR 3.42BEUR 4.73BEUR 3.68B
Total current liabilitiesEUR 10.0BEUR 11.4BEUR 10.9BEUR 12.8BEUR 12.1B
Long-term debtEUR 2.33BEUR 2.92BEUR 3.64BEUR 4.25BEUR 4.54B
Total liabilitiesEUR 16.5BEUR 18.4BEUR 19.2BEUR 21.5BEUR 22.6B
Shareholders' equityEUR 21.1BEUR 20.7BEUR 20.6BEUR 21.4BEUR 17.5B

Cash flow statement

Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.

Cash flow statement of Nokia Corp, annual
Line itemFY2025FY2024FY2023FY2022FY2021
Period endDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021
Filing20-F20-F20-F20-F20-F
Reported–––––
Operating cash flowEUR 2.07B≈ US$2.34BEUR 2.49B≈ US$2.70BEUR 1.32B≈ US$1.42BEUR 1.47B≈ US$1.55BEUR 2.63B≈ US$3.11B
Depreciation and amortizationEUR 1.12BEUR 973.0MEUR 1.09BEUR 1.14BEUR 1.09B
Stock-based compensationEUR 337.0MEUR 241.0MEUR 202.0MEUR 149.0MEUR 108.0M
Dividends paidEUR 759.0MEUR 723.0MEUR 621.0MEUR 353.0MEUR 9.00M
Share buybacksEUR 624.0MEUR 680.0MEUR 300.0MEUR 300.0M–
Investing cash flowEUR -1.40BEUR -117.0MEUR 1.04BEUR -1.88BEUR -1.79B
Financing cash flowEUR -1.61BEUR -2.00BEUR -1.50BEUR -837.0MEUR -1.21B
Net change in cashEUR -1.16BEUR 389.0MEUR 767.0MEUR -1.22BEUR -249.0M
Ratio
Stock-based compensation, % of revenue1.7%1.3%0.9%0.6%0.5%

Shares outstanding

Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.

Shares outstanding for Nokia Corp by cover date
Cover dateShares outstandingChange in a yearFiling
Dec 31, 20255.74B+2.4%SEC
Dec 31, 20245.61B−0.1%SEC
Dec 31, 20235.61B−0.3%SEC
Dec 31, 20225.63B−0.8%SEC
Dec 31, 20215.68B+0.4%SEC
Dec 31, 20205.65B+0.2%SEC
Dec 31, 20195.64B+0.1%SEC
Dec 31, 20185.64B−3.5%SEC

Notes and known gaps

How these numbers are put together, and what they can't tell you.

  • Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
  • Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
  • ≈ US$ figures convert EUR at FRED H.10 exchange rates (Federal Reserve): the average rate over the period for income and cash flow, and the rate on the period-end date, or the last business day before it, for the balance sheet.

Known gaps

  • Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
  • EPS and share counts are as reported at the time, not adjusted for later stock splits.
  • For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
  • For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
  • Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
  • Depreciation and amortization is missing for some companies that report it under their own XBRL tags.