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Nokia Oyj
NOK : NYSE : Technology
$5.86 -0.06 | -1.10%
Today's Range: 5.83 - 5.97
Avg. Daily Volume: 13,634,700
04/29/16 - 12:00 PM ET

Financial Analysis


NOKIA CORP's gross profit margin for the fourth quarter of its fiscal year 2015 has increased when compared to the same period a year ago. Even though sales decreased, the net income has increased, representing an increase to the bottom line. NOKIA CORP is extremely liquid. Currently, the Quick Ratio is 2.18 which clearly shows the ability to cover any short-term cash needs. The company managed to increase its liquidity from the same period a year ago, despite already having strong liquidity to begin with. This would indicate improved cash flow.

During the same period, stockholders' equity ("net worth") has increased by 9.45% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is very unlikely to face financial difficulties in the near future.

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Income Statement Q4 FY15 Q4 FY14
Net Sales ($mil)3649.653812.52
EBITDA ($mil)803.64676.76
EBIT ($mil)728.59535.82
Net Income ($mil)1924.39378.24


Balance Sheet Q4 FY15 Q4 FY14
Cash & Equiv. ($mil)10695.039337.13
Total Assets ($mil)22723.5425488.34
Total Debt ($mil)2252.163257.59
Equity ($mil)11405.2110420.17


Profitability Q4 FY15 Q4 FY14
Gross Profit Margin48.744.41
EBITDA Margin22.0117.75
Operating Margin19.9614.05
Sales Turnover0.60.56
Return on Assets11.7816.43
Return on Equity11.3431.47
Debt Q4 FY15 Q4 FY14
Current Ratio2.481.88
Debt/Capital0.160.24
Interest Expense43.7243.92
Interest Coverage16.6712.2


Share Data Q4 FY15 Q4 FY14
Shares outstanding (mil)3939.23648.14
Div / share0.00.0
EPS0.130.07
Book value / share2.92.86
Institutional Own % n/a n/a
Avg Daily Volume1.3728145E71.2210697E7

Valuation


BUY. This stock's P/E ratio indicates a discount compared to an average of 24.53 for the Communications Equipment industry and a discount compared to the S&P 500 average of 24.17. For additional comparison, its price-to-book ratio of 2.09 indicates a discount versus the S&P 500 average of 2.76 and a discount versus the industry average of 3.26. The price-to-sales ratio is similar to the S&P 500 average, but it is significantly below the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, NOKIA CORP proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
NOK 18.33 Peers 24.53   NOK 43.29 Peers 16.61

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

NOK is trading at a significant discount to its peers.

 

Premium. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

NOK is trading at a significant premium to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
NOK 14.76 Peers 17.71   NOK 6.23 Peers 1.41

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

NOK is trading at a valuation on par with its peers.

 

Premium. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

NOK trades at a significant premium to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
NOK 2.09 Peers 3.26   NOK -59.76 Peers 14.96

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

NOK is trading at a significant discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, NOK is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
NOK 1.76 Peers 3.05   NOK -4.65 Peers 6.36

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

NOK is trading at a significant discount to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

NOK significantly trails its peers on the basis of sales growth

 

 

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