NOK financial statements
The full income statement, balance sheet, and cash-flow statement for Nokia Corporation Sponsored American Depositary Shares (NOK), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 22.5B+8.2% | 20.8B-9.0% | 22.9B-8.5% | 25.0B-4.9% | 26.3B+5.4% | |
| 9.80B+2.1% | 9.59B+3.8% | 9.24B-13.0% | 10.6B+1.6% | 10.4B+11.9% | ||
| Cost of revenue | 12.7B+13.4% | 11.2B-17.7% | 13.6B-5.2% | 14.4B-9.2% | 15.8B+1.5% | |
| Research & development | 5.49B+12.5% | 4.88B+5.6% | 4.63B-2.3% | 4.73B-5.0% | 4.98B+7.0% | |
| Operating income | 1.00B-53.0% | 2.13B+13.7% | 1.87B-22.5% | 2.42B-5.3% | 2.55B+153.0% | |
| Interest expense | 278M-19.6% | 346M-44.7% | 626M+111.2% | 296M-19.1% | 367M-2.2% | |
| Pre-tax income | 1.04B-54.2% | 2.26B+42.4% | 1.59B-30.3% | 2.28B+0.1% | 2.28B+169.0% | |
| Income tax | 313M-23.8% | 411M-53.6% | 887M+141.5% | -2.14B-764.4% | 322M-91.3% | |
| 747M-46.3% | 1.39B+89.2% | 734M-83.6% | 4.48B+130.1% | 1.95B+167.8% | ||
| Net income to common | 737M-46.7% | 1.38B+92.1% | 719M-83.9% | 4.47B+132.8% | 1.92B+166.7% | |
| $0.14-45.4% | $0.25+91.8% | $0.13-83.5% | $0.79+129.9% | $0.34+166.9% | ||
| EPS (basic) | $0.14-45.4% | $0.25+91.8% | $0.13-83.8% | $0.80+132.9% | $0.34+166.9% | |
| Weighted-avg shares (basic) | 5.42B-1.1% | 5.48B-1.3% | 5.55B-1.2% | 5.61B-0.3% | 5.63B+0.3% | |
| Weighted-avg shares (diluted) | 5.50B-0.5% | 5.53B-1.0% | 5.59B-1.5% | 5.67B-0.3% | 5.68B+0.9% | |
| Dividends per share | $0.12+15.0% | $0.11-23.0% | $0.14+11.4% | $0.13+8548.0% | $0.00 | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 18.5B-1.1% | 18.8B | — | 21.6B-3.0% | 22.3B-0.3% | ||
| Cash & equivalents | 6.42B-7.1% | 6.91B+0.1% | 6.90B+18.4% | 5.83B-23.3% | 7.60B-10.6% | |
| Accounts receivable | 5.84B+6.8% | 5.47B+0.5% | 5.45B-7.9% | 5.92B-3.2% | 6.11B-9.3% | |
| Inventory | 2.59B+15.0% | 2.26B-25.0% | 3.01B-13.5% | 3.48B+28.1% | 2.72B-1.1% | |
| 44.2B+8.2% | 40.8B-7.5% | 44.1B-3.6% | 45.8B+0.6% | 45.5B+2.6% | ||
| Property, plant & equipment | 1.84B+29.8% | 1.42B-34.2% | 2.16B+0.5% | 2.15B-1.7% | 2.19B+0.0% | |
| Goodwill | 7.04B+17.7% | 5.98B-1.8% | 6.09B+0.8% | 6.04B | — | |
| Total non-current assets | 25.6B+16.0% | 22.1B-8.1% | 24.0B-0.7% | 24.2B+4.1% | 23.2B+5.5% | |
| Total current liabilities | 11.8B-1.1% | 11.9B-1.8% | 12.1B-11.1% | 13.6B-0.9% | 13.7B-4.6% | |
| 19.4B+1.2% | 19.2B-9.8% | 21.3B-7.2% | 22.9B-10.6% | 25.7B-11.4% | ||
| Long-term debt | 2.74B-10.1% | 3.04B-24.4% | 4.03B-11.1% | 4.53B-12.1% | 5.15B-16.1% | |
| 24.6B+14.3% | 21.5B-5.2% | 22.7B-0.1% | 22.7B+15.3% | 19.7B+29.1% | ||
| Total equity incl. non-controlling | 24.7B+14.3% | 21.6B-5.2% | 22.8B-0.0% | 22.8B+15.1% | 19.8B+29.1% | |
| Common shares outstanding | 5.58B+3.9% | 5.37B-2.8% | 5.53B-1.1% | 5.59B-0.9% | 5.63B+0.3% | |
| Shares outstanding (cover) | 5.74B+2.4% | 5.61B-0.1% | 5.61B-0.3% | 5.63B-0.8% | 5.68B+0.4% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.34B-13.1% | 2.70B+89.4% | 1.42B-8.1% | 1.55B-50.1% | 3.10B+54.8% | ||
| Depreciation & amortization | 1.27B+20.3% | 1.05B-3.8% | 1.09B-3.0% | 1.13B-12.9% | 1.30B+0.4% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 171M+56.3% | 109M-79.6% | 536M+6277.7% | 8.41M-58.2% | 20.1M-98.9% | |
| Long-term debt repaid | 990M+98.0% | 500M-42.1% | 863M+40943.5% | 2.10M-99.8% | 1.10B+291.0% | |
| Common stock issued | 972M | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 233M-85.7% | 1.63B+418.1% | 315M-4.1% | 328M | 0.00 | |
| Dividends paid | 859M+9.8% | 782M+16.5% | 672M+80.5% | 372M+4395.1% | 8.28M | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 37.2B+49.6% | 24.8B+28.9% | 19.3B-26.9% | 26.3B-25.4% | 35.3B+59.7% | |
| P/E | 49.7×+178.3% | 17.9×+315.5% | 4.3×-68.2% | 13.5×-25.4% | 18.1× | |
| P/S | 1.7×+38.3% | 1.2×+54.9% | 0.8×-23.1% | 1.0×-25.4% | 1.3×+51.5% | |
| P/B | 1.5×+30.9% | 1.2×+36.1% | 0.8×-36.6% | 1.3×-25.4% | 1.8×+23.7% | |
| Earnings yield | 2.0%-64.1% | 5.6%-75.9% | 23.2%+214.6% | 7.4%+34.1% | 5.5% | |
| Dividend yield | 1.9%-21.2% | 2.4%-40.6% | 4.1%+51.2% | 2.7%+11492.8% | 0.02% | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: NOK’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all NOK filings on SEC EDGAR → Not investment advice.