Nokia (NOK) Financials

$15.47 +1.29 (+9.08%)

Closing price 05/22/2026 03:59 PM Eastern

Extended Trading

$15.46 0.00 (-0.02%)

As of 05/22/2026 07:59 PM Eastern

Annual Income Statements for Nokia

This table shows Nokia's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	2,684	-1,298	-1,751	389	7.86	-3,082	1,887	4,566	767	1,336	785
Consolidated Net Income / (Loss)	2,682	-975	-1,751	389	12	-3,074	1,862	4,556	751	1,329	775
Net Income / (Loss) Continuing Operations	1,297	-959	-1,751	628	20	-3,070	1,872	4,495	718	1,771	749
Total Pre-Tax Income	1,673	-1,440	-638	412	175	908	2,180	2,320	1,625	2,164	1,074
Total Operating Income	1,587	-1,280	-6.01	68	544	1,081	2,442	2,459	1,917	2,039	1,039
Total Gross Profit	6,081	8,967	10,978	9,513	9,274	10,009	9,998	10,806	9,454	9,175	10,162
Total Revenue	13,647	24,870	27,805	25,824	26,165	26,695	25,128	25,420	23,383	19,895	23,342
Operating Revenue	13,647	24,870	27,805	25,824	26,165	26,695	25,128	25,420	23,383	19,895	23,342
Total Cost of Revenue	7,566	15,903	17,974	16,310	16,891	16,686	15,130	14,613	13,929	10,719	13,180
Operating Cost of Revenue	7,566	15,903	17,974	16,310	16,891	16,686	15,130	14,613	13,929	10,719	13,180
Total Operating Expenses	4,494	10,248	9,837	10,192	9,118	9,081	7,556	8,347	7,537	7,136	9,124
Selling, General & Admin Expense	1,925	3,963	4,343	4,062	3,613	4,089	3,160	3,162	3,167	2,973	3,606
Research & Development Expense	2,260	5,257	5,905	5,467	5,086	4,993	4,769	4,817	4,731	4,670	5,698
Other Operating Expenses / (Income)	309	1,028	-411	663	420	-	-373	367	-362	-507	-181
Total Other Income / (Expense), net	86	-160	-632	567	775	-20	-263	-139	-292	125	35
Interest & Investment Income	-171	-	-632	97	190	202	78	190	392	449	302
Other Income / (Expense), net	256	142	-	469	586	181	-341	-329	-684	-324	-266
Income Tax Expense	376	-481	1,114	216	155	3,978	308	-2,175	907	393	325
Net Income / (Loss) Discontinued Operations	1,384	-	-	245	7.86	-3.66	-10	61	33	-442	26
Net Income / (Loss) Attributable to Noncontrolling Interest	-2.17	339	-	5.72	4.49	-8.55	-25	-9.63	-15	-7.25	-11
Basic Earnings per Share	$0.32	($0.13)	-	$0.06	$0.00	($0.45)	$0.29	$0.81	$0.13	$0.24	$0.14
Weighted Average Basic Shares Outstanding	3.67B	5.73B	5.84B	5.64B	5.64B	5.65B	5.68B	5.63B	5.61B	5.61B	5.74B
Diluted Earnings per Share	$0.31	($0.13)	-	$0.06	$0.00	($0.45)	$0.29	$0.80	$0.13	$0.24	$0.14
Weighted Average Diluted Shares Outstanding	3.95B	5.74B	5.84B	5.64B	5.64B	5.65B	5.68B	5.63B	5.61B	5.61B	5.74B
Weighted Average Basic & Diluted Shares Outstanding	-	-	5.84B	5.64B	5.64B	5.65B	5.68B	5.63B	5.61B	5.61B	5.74B

No quarterly income statements for Nokia are available.

This table details how cash moves in and out of Nokia's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	1,983	528	-154	1,268	394	1,258	-282	-1,309	848	403	-1,363
Net Cash From Operating Activities	-547	-1,530	2,175	412	438	2,149	2,971	1,577	1,457	2,581	2,431
Net Cash From Continuing Operating Activities	547	-1,530	2,175	5,103	6,608	2,149	3,274	1,577	1,457	2,581	2,431
Net Income / (Loss) Continuing Operations	2,682	-975	-1,751	389	12	-3,074	1,862	4,556	751	1,329	775
Consolidated Net Income / (Loss)	2,682	-975	-1,751	389	12	-3,074	1,862	4,556	751	1,329	775
Non-Cash Adjustments To Reconcile Net Income	-1,820	2,275	3,988	2,655	3,013	6,432	1,939	-2,572	1,343	1,605	2,121
Changes in Operating Assets and Liabilities, net	-315	-2,830	-61	2,059	3,582	-1,209	-526	-408	-637	-354	-465
Net Cash From Investing Activities	2,060	7,191	12	361	187	-1,757	-2,032	-2,011	1,154	-121	-1,638
Net Cash From Continuing Investing Activities	2,058	7,191	12	6,417	2,844	-1,853	-2,032	-662	1,145	-389	-1,638
Purchase of Property, Plant & Equipment	-341	-502	-722	769	774	-585	-634	-643	-721	-489	-711
Acquisitions	-106	6,122	-473	35	0.00	-127	-37	-21	-21	-38	-2,030
Purchase of Investments	-3,838	-4,423	-3,403	2,574	733	-1,482	-2,175	-	-2,144	-1,246	-591
Sale of Property, Plant & Equipment	0.00	29	80	101	44	16	117	35	209	100	33
Sale and/or Maturity of Investments	6,364	5,922	4,541	2,938	1,274	299	764	-	3,798	1,220	1,559
Other Investing Activities, net	-21	43	-11	0.00	19	26	-66	-33	24	63	103
Net Cash From Financing Activities	-630	-5,179	-2,101	1,109	538	1,079	-1,372	-895	-1,662	-2,073	-1,889
Net Cash From Continuing Financing Activities	-630	-5,179	-2,101	1,435	2,958	1,079	-1,372	-895	-1,662	-2,073	-2,898
Repayment of Debt	-86	-2,839	-2,452	35	905	-402	-1,381	-2.14	-927	-484	-604
Repurchase of Preferred Equity	-188	-227	-943	-	-	0.00	-	-321	-332	-704	-732
Repurchase of Common Equity	-57	-762	-46	-	-	-	0.00	-	0.00	0.00	-588
Payment of Dividends	-556	-1,594	-1,165	1,237	640	-182	-10	-378	-687	-748	-891
Issuance of Debt	256	243	2,513	160	1,166	1,948	19	37	549	105	177
Other Financing Activities, net	-	-	-8.41	2.29	248	-286	-	-232	-264	-241	-259
Effect of Exchange Rate Changes	6.52	45	-240	211	107	-213	-	20	-101	17	-265

No quarterly cash flow statements for Nokia are available.

This table presents Nokia's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	47,236	49,280	45,228	43,912	44,211	45,327	45,940	44,093	40,523	44,124
Total Current Assets	19,826	23,834	20,906	18,863	22,252	22,180	21,023	19,520	18,618	18,533
Cash & Equivalents	7,887	8,852	7,166	6,633	8,478	7,573	5,849	6,896	6,855	6,410
Short-Term Investments	-	1,094	700	109	1,369	2,917	3,295	1,731	1,719	1,128
Accounts Receivable	7,335	8,265	5,558	5,639	6,722	7,064	6,936	6,289	6,226	6,759
Inventories, net	2,636	3,178	3,626	3,295	2,739	2,707	3,493	3,008	2,239	2,592
Current Deferred & Refundable Income Taxes	294	569	260	313	324	242	164	340	209	300
Other Current Assets	311	0.00	2,146	-	1,038	1,297	1,287	1,257	718	945
Other Current Nonoperating Assets	1,363	363	278	184	261	-	-	-	651	399
Plant, Property, & Equipment, net	2,084	2,226	2,049	2,083	2,178	2,178	2,156	2,158	1,410	1,843
Plant, Property & Equipment, gross	2,084	2,226	2,049	2,083	2,178	2,178	2,156	2,158	1,410	1,843
Total Noncurrent Assets	22,186	23,220	22,273	22,966	19,781	20,970	20,753	21,604	20,495	23,748
Long-Term Investments	-	154	166	185	285	1,133	213	97	601	643
Noncurrent Note & Lease Receivables	-	-	-	-	265	289	256	-	217	325
Goodwill	-	-	-	-	-	-	6,063	6,089	5,937	7,037
Intangible Assets	11,530	11,074	10,077	8,929	8,584	7,980	-	1,201	830	1,642
Noncurrent Deferred & Refundable Income Taxes	5,997	5,504	5,621	5,750	2,226	1,440	4,102	4,284	3,725	4,275
Other Noncurrent Operating Assets	612	1,681	1,569	8,102	7,512	1,368	2,149	2,219	9,183	9,825
Total Liabilities & Shareholders' Equity	47,236	49,280	45,228	43,912	44,211	45,327	45,940	44,093	40,523	44,124
Total Liabilities	25,170	29,798	27,635	26,628	28,886	25,564	23,019	21,274	19,048	19,410
Total Current Liabilities	13,260	15,309	16,142	13,529	14,367	12,833	8,684	11,176	11,794	11,741
Short-Term Debt	389	371	1,138	328	685	341	441	832	2,730	1,643
Accounts Payable	3,978	4,800	5,463	4,249	3,877	4,164	5,060	3,787	4,101	4,409
Current Deferred & Payable Income Tax Liabilities	564	460	307	210	230	229	198	225	214	404
Other Current Liabilities	-	1,670	4,726	5,013	5,029	3,641	2,985	6,333	4,749	5,285
Total Noncurrent Liabilities	11,910	14,489	11,491	13,099	14,519	11,868	9,243	9,180	7,254	7,669
Long-Term Debt	3,847	4,153	3,234	4,472	6,126	5,135	4,546	4,023	3,020	2,733
Capital Lease Obligations	-	-	-	865	881	933	918	884	687	935
Noncurrent Deferred & Payable Income Tax Liabilities	424	496	401	438	318	319	355	802	582	460
Noncurrent Employee Benefit Liabilities	5,260	5,334	4,952	4,874	4,943	3,857	2,631	2,543	2,156	2,285
Other Noncurrent Operating Liabilities	-	920	1,928	1,651	1,591	1,131	794	928	808	1,256
Total Equity & Noncontrolling Interests	22,066	19,482	17,592	276	301	19,763	22,922	22,819	21,475	24,714
Total Preferred & Common Equity	21,139	19,386	17,498	17,199	15,227	19,648	18,644	18,730	21,382	24,607
Preferred Stock	-	-	-	479	541	-	-	-	760	1,021
Total Common Equity	21,139	19,386	17,498	21,965	28,832	19,648	18,644	18,730	2,105	562
Common Stock	259	296	282	276	301	278	263	272	255	289
Retained Earnings	3,775	1,378	-1,215	1,810	5,061	-2,871	1,471	1,553	2,025	2,179
Treasury Stock	-927	-1,778	-467	395	430	-398	-377	-389	-446	-413
Other Equity Adjustments	18,032	19,490	18,899	19,484	23,041	22,639	17,287	17,294	272	-1,493
Noncontrolling Interest	927	96	94	85	98	115	99	101	93	107

No quarterly balance sheets for Nokia are available.

This table displays calculated financial ratios and metrics derived from Nokia's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	5,742,239,696.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	5,742,239,696.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.14
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	1,231	-896	-4.20	32	63	-3,657	2,097	4,765	812	1,693	724
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	16.53%	2.84%	6.42%	2.41%
Earnings before Interest and Taxes (EBIT)	1,844	-1,138	-6.01	537	1,130	1,262	2,102	2,130	1,154	1,745	772
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,844	-1,138	-6.01	537	1,130	1,262	2,102	2,130	1,154	1,745	772
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-17,196	2,780	-103	-454	116	-2,539	-2,011	3,469	2,769	-2,636
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	16,300	13,515	13,651	14,167	10,395	15,031	21,807	19,149	18,074	21,445
Increase / (Decrease) in Invested Capital	0.00	16,300	-2,784	135	517	-3,773	4,637	6,775	-2,657	-1,076	3,360
Book Value per Share	$0.00	$3.69	$3.32	$3.00	$3.90	$5.11	$3.48	$3.31	$3.33	$3.08	$0.10
Tangible Book Value per Share	$0.00	$1.68	$1.42	$1.27	$2.31	$3.59	$2.06	$2.23	$2.03	$1.87	($1.45)
Total Capital	0.00	26,302	24,006	21,964	5,941	7,993	26,172	28,826	28,558	26,392	30,025
Total Debt	0.00	4,236	4,524	4,372	5,665	7,692	6,408	5,904	5,739	4,917	5,312
Total Long-Term Debt	0.00	3,847	4,153	3,234	5,337	7,007	6,068	5,463	4,907	3,708	3,669
Net Debt	0.00	-3,650	-5,576	-3,660	-1,261	-2,440	-5,214	-3,452	-2,986	-3,786	-2,869
Capital Expenditures (CapEx)	341	472	641	-870	-818	569	517	608	512	388	678
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-932	-1,050	-1,965	-1,080	-1,278	-802	3,636	549	534	898
Debt-free Net Working Capital (DFNWC)	0.00	6,955	8,896	5,901	5,662	8,570	9,687	12,780	9,176	9,109	8,436
Net Working Capital (NWC)	0.00	6,566	8,525	4,763	5,334	7,884	9,346	12,339	8,344	7,900	6,793
Net Nonoperating Expense (NNE)	-1,451	79	1,747	-357	50	-583	236	208	61	364	-50
Net Nonoperating Obligations (NNO)	0.00	-5,766	-5,967	-3,942	13,891	10,094	-4,732	-1,115	-3,669	-3,401	-3,268
Total Depreciation and Amortization (D&A)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.76	$0.12	$0.24	$0.14
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	5.84B	5.64B	5.60B	0.00	0.00	5.63B	5.61B	5.61B	5.74B
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.75	$0.12	$0.24	$0.14
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	5.84B	5.64B	5.63B	0.00	0.00	5.63B	5.61B	5.61B	5.74B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	5.84B	5.64B	5.64B	0.00	0.00	5.63B	5.61B	5.61B	5.74B
Normalized Net Operating Profit after Tax (NOPAT)	1,231	-896	-4.20	47	381	757	2,097	1,722	1,286	1,693	724
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

No quarterly metrics and ratios for Nokia are available.

Financials Breakdown Chart

Nokia Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Nokia's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Nokia's net income appears to be on an upward trend, with a most recent value of $774.58 million in 2025, falling from $2.68 billion in 2015. The previous period was $1.33 billion in 2024. Find out what analysts predict for Nokia in the coming months.

Nokia's total operating income in 2025 was $1.04 billion, based on the following breakdown:

Total Gross Profit: $10.16 billion
Total Operating Expenses: $9.12 billion

Over the last 10 years, Nokia's total revenue changed from $13.65 billion in 2015 to $23.34 billion in 2025, a change of 71.0%.

Nokia's total liabilities were at $19.41 billion at the end of 2025, a 1.9% increase from 2024, and a 22.9% decrease since 2016.

In the past 9 years, Nokia's cash and equivalents has ranged from $5.85 billion in 2022 to $8.85 billion in 2017, and is currently $6.41 billion as of their latest financial filing in 2025.

Over the last 10 years, Nokia's book value per share changed from 0.00 in 2015 to 0.10 in 2025, a change of 10.0%.

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Financial statements for NYSE:NOK last updated on 3/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Nokia (NOK) Financials

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Nokia Financials - Frequently Asked Questions

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Nokia (NOK) Financials

Annual Income Statements for Nokia

Quarterly Income Statements for Nokia

Annual Cash Flow Statements for Nokia

Quarterly Cash Flow Statements for Nokia

Annual Balance Sheets for Nokia

Quarterly Balance Sheets for Nokia

Annual Metrics And Ratios for Nokia

Quarterly Metrics And Ratios for Nokia

Financials Breakdown Chart

Nokia Financials - Frequently Asked Questions

When does Nokia's financial year end?

How has Nokia's net income changed over the last 10 years?

What is Nokia's operating income?

How has Nokia's revenue changed over the last 10 years?

How much debt does Nokia have?

How much cash does Nokia have?

How has Nokia's book value per share changed over the last 10 years?

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