Added to YB: 2026-07-28
Pitch date: 2026-07-24
NOK [neutral]
Nokia Oyj
-0.7%
current return
Author Info
JP Insights is analyzing the companies powering AI’s physical layer — semiconductors, datacenters, energy, and robotics. Focused on innovation-driven value and long-term reinvestment efficiency. Sign up for the newsletter.
Company Info
Nokia Oyj, together with its subsidiaries, provides mobile, fixed, and cloud network solutions in North and Latin America, Greater China, India, Asia Pacific, Europe, the Middle East, and Africa.
Market Cap
EUR 46.0B
Pitch Price
EUR 9.32
Price Target
N/A
Dividend
1.70%
EV/EBITDA
15.66
P/E
69.69
EV/Sales
2.18
Sector
Communications Equipment
Category
growth
Nokia Q2: The Positioning Is Starting to Show Up in the Economics
NOK (earnings): Q2 rev +9% cc to €4.8B, comparable op profit +18% to €434M, GM 46%. Network Infra sales +12%, op profit +42%. Optical +20%, IP Networks +16%; AI&Cloud orders €2.8B (H1 €3.8B, >FY25). But FCF -€732M on working capital, net cash fell to €2.8B; €800M FY restructuring. Volume now driving margins; author holds small position, thesis working but capital returns/ROIC unproven.
Read full article (9 min)