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Nokia Oyj
NOK : NYSE : Technology
$8.17 0.08 | 0.99%
Today's Range: 8.09 - 8.20
Avg. Daily Volume: 17,189,700
12/26/14 - 4:01 PM ET

Financial Analysis


NOKIA CORP's gross profit margin for the third quarter of its fiscal year 2014 is essentially unchanged 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 has average liquidity. Currently, the Quick Ratio is 1.50 which shows that technically this company has the ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.

During the same period, stockholders' equity ("net worth") has increased by 14.69% from the same quarter last year. Together, the key liquidity measurements indicate that it is relatively unlikely that the company will face financial difficulties in the near future.

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Income Statement Q3 FY14 Q3 FY13
Net Sales ($mil)3642.644420.52
EBITDA ($mil)565.42582.25
EBIT ($mil)496.74455.52
Net Income ($mil)700.76-149.37


Balance Sheet Q3 FY14 Q3 FY13
Cash & Equiv. ($mil)9645.2712362.87
Total Assets ($mil)26386.2135311.46
Total Debt ($mil)3299.79096.87
Equity ($mil)10376.439046.79


Profitability Q3 FY14 Q3 FY13
Gross Profit Margin46.9747.05
EBITDA Margin15.5213.17
Operating Margin13.6410.3
Sales Turnover0.630.69
Return on Assets14.25-1.81
Return on Equity12.591.81
Debt Q3 FY14 Q3 FY13
Current Ratio1.861.27
Debt/Capital0.240.5
Interest Expense11.3292.74
Interest Coverage43.884.91


Share Data Q3 FY14 Q3 FY13
Shares outstanding (mil)3678.283712.39
Div / share0.00.0
EPS0.240.05
Book value / share2.822.44
Institutional Own % n/a n/a
Avg Daily Volume1.7701922E71.7387356E7

Valuation


BUY. The current P/E ratio indicates a discount compared to an average of 25.38 for the Communications Equipment industry and a premium compared to the S&P 500 average of 19.99. To use another comparison, its price-to-book ratio of 2.85 indicates valuation on par with the S&P 500 average of 2.76 and a discount versus the industry average of 3.36. 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 23.65 Peers 25.38   NOK 21.12 Peers 15.96

Average. An average P/E ratio can signify an industry neutral price for a stock and an average growth expectation.

NOK is trading at a valuation on par with 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 21.97 Peers 20.21   NOK 0.06 Peers 0.68

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

NOK is trading at a premium to its peers.

 

Discount. 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 discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
NOK 2.85 Peers 3.36   NOK 1600.00 Peers 368.09

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 discount to its peers.

 

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

NOK is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
NOK 1.79 Peers 3.40   NOK -31.82 Peers 3.05

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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