NOKIA CORP

EDGAR

Annual consolidated revenue for 2025: about EUR 19.89B, using the latest reported figures. The previous period, 2024, was about EUR 19.22B.

Watchlist

Latest fiscal year

Revenue

19.9 billion EUR

2025 · EUR

Exact inputs and evidence
  • Revenue: 19889000000 EUR Source

Operating margin

4.45%

2025 · %

Exact inputs and evidence
  • Operating Income: 885000000 EUR Source
  • Revenue: 19889000000 EUR Source

Operating cash flow

2.07 billion EUR

2025 · EUR

Exact inputs and evidence
  • Operating Cash Flow: 2071000000 EUR Source

Free cash flow

1.47 billion EUR

2025 · EUR

Exact inputs and evidence
  • Operating Cash Flow: 2071000000 EUR Source
  • Capital Expenditure Including Intangibles: 606000000 EUR Source
Cash and cash equivalents
5.46 billion EUR Source
Exact value

5462000000 EUR

Long-term debt including current maturities
Not available
Shares outstanding
Not available

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-09-08.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 5 of 11 periods available· newest 2025-12-31
  • Operating income: 5 of 11 periods available· newest 2025-12-31
  • Net income: 5 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 5 of 11 periods available· newest 2025-12-31
  • capital expenditure: No compatible figures in this window
  • Total assets: 4 of 11 periods available· newest 2025-12-31
  • Total liabilities: 4 of 11 periods available· newest 2025-12-31
  • Current assets: 2 of 11 periods available· newest 2025-12-31
  • Current liabilities: 4 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 6 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +3.5%

    Prior period

    EUR 19.22 billion

    –

    Current period

    EUR 19.89 billion

    –

    Exact inputs and evidence

    19889000000 − 19220000000 = 669000000 EUR

    19220000000 EUR · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    19889000000 EUR · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    -49%

    Prior period

    EUR 1.28 billion

    –

    Current period

    EUR 651 million

    –

    Exact inputs and evidence

    651000000 − 1277000000 = -626000000 EUR

    1277000000 EUR · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    651000000 EUR · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    -16.9%

    Prior period

    EUR 2.49 billion

    –

    Current period

    EUR 2.07 billion

    –

    Exact inputs and evidence

    2071000000 − 2493000000 = -422000000 EUR

    2493000000 EUR · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    2071000000 EUR · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue EUR 19.89 billion 100% of revenue
  • Cost of revenue EUR 11.23 billion 56% of revenue
  • Operating expenses EUR 7.93 billion 40% of revenue
  • Other operating costs Derived −EUR 154 million −0.8% of revenue
  • Operating income EUR 885 million 4.4% of revenue
  • Tax, interest and other Derived EUR 234 million 1.2% of revenue
  • Net income EUR 651 million 3.3% of revenue

Cash

  • Operating cash flow EUR 2.07 billion 10% of revenue
  • Capital expenditure including intangibles EUR 606 million 3% of revenue
  • Free cash flow Derived Capital expenditure here includes intangible assets. EUR 1.47 billion 7.4% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2021 90%
  • 2022 Net income was higher than operating income, so the split is not drawn.
  • 2023 92%
  • 2024 90%
  • 2025 96%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2021 2021-01-01 – 2021-12-3122202000000 20044000000 Derived 2158000000 535000000 Derived 1623000000 2065000000 Derived Capital expenditure here includes intangible assets.
Source
2022 2022-01-01 – 2022-12-3123761000000 21462000000 Derived 2299000000 -1951000000 Derived 4250000000 873000000 Derived Capital expenditure here includes intangible assets.
Source
2023 2023-01-01 – 2023-12-3121138000000 19405000000 Derived 1733000000 1068000000 Derived 665000000 665000000 Derived Capital expenditure here includes intangible assets.
Source
2024 2024-01-01 – 2024-12-3119220000000 17250000000 Derived 1970000000 693000000 Derived 1277000000 2021000000 Derived Capital expenditure here includes intangible assets.
Source
2025 2025-01-01 – 2025-12-3119889000000 19004000000 Derived 885000000 234000000 Derived 651000000 1465000000 Derived Capital expenditure here includes intangible assets.
Source

Amounts are exact, in EUR.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

EUR 19.9B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.25.7B19.2B12.8B6.4B0.020212022202320242025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(EUR)Source evidence
2021Revenue22202000000
2022Revenue23761000000
2023Revenue21138000000
2024Revenue19220000000
2025Revenue19889000000

Revenue growth

Change in revenue from the same financial period one year earlier.

3.5% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.8.5%3.2%-2.0%-7.2%-12.5%20212022202320242025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2021Year over yearNo prior comparable period
2022Year over year7%
2023Year over year-11%
2024Year over year-9.1%
2025Year over year3.5%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 4.4% 2025
Net margin 3.3% 2025
Free cash flow margin 7.4% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.19.3%14.5%9.7%4.8%0.0%20212022202320242025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2021Operating margin9.7%
2022Operating margin9.7%
2023Operating margin8.2%
2024Operating margin10.2%
2025Operating margin4.4%
2021Net margin7.3%
2022Net margin17.9%
2023Net margin3.1%
2024Net margin6.6%
2025Net margin3.3%
2021Free cash flow margin9.3%
2022Free cash flow margin3.7%
2023Free cash flow margin3.1%
2024Free cash flow margin10.5%
2025Free cash flow margin7.4%

Operating cash flow

Cash generated by the company’s normal business operations.

EUR 2.1B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.8B2.1B1.4B708.8M0.020212022202320242025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(EUR)Source evidence
2021Operating cash flow2625000000
2022Operating cash flow1474000000
2023Operating cash flow1317000000
2024Operating cash flow2493000000
2025Operating cash flow2071000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

EUR 1.5B 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.2B1.7B1.1B557.6M0.020212022202320242025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(EUR)Source evidence
2021Free cash flow2065000000
2022Free cash flow873000000
2023Free cash flow665000000
2024Free cash flow2021000000
2025Free cash flow1465000000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

44% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.54%41%27%14%0%2021-12-312022202320242025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2021-12-31Liabilities / assetsNot reportedNo source recorded
2022Liabilities / assets50.1%
2023Liabilities / assets48.2%
2024Liabilities / assets47%
2025Liabilities / assets44%

Current assets to current liabilities

Current assets divided by current liabilities.

1.58× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.70×1.28×0.85×0.43×0.00×2021-12-312022-12-312023-12-3120242025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2021-12-31Current assets / current liabilitiesNot reportedNo source recorded
2022-12-31Current assets / current liabilitiesNot reported
2023-12-31Current assets / current liabilitiesNot reported
2024Current assets / current liabilities1.58×
2025Current assets / current liabilities1.58×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2021 2021-01-01 – 2021-12-31
EUR 1.62 billion
Exact value

Exact value: 1623000000 EUR

2021-01-01 – 2021-12-31: 1623000000 EUR Inspect Net Income Open source
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EUR 2.63 billion
Exact value

Exact value: 2625000000 EUR

2021-01-01 – 2021-12-31: 2625000000 EUR Inspect Operating Cash Flow Open source
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EUR 560 million Capital expenditure here includes intangible assets.
Exact value

Exact value: 560000000 EUR

2021-01-01 – 2021-12-31: 560000000 EUR Inspect Capital Expenditure Including Intangibles Open source
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EUR 2.07 billion Capital expenditure here includes intangible assets.
Calculation and evidence

2625000000 − 560000000 EUR

Exact free cash flow: 2065000000 EUR

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2022 2022-01-01 – 2022-12-31
EUR 4.25 billion
Exact value

Exact value: 4250000000 EUR

2022-01-01 – 2022-12-31: 4250000000 EUR Inspect Net Income Open source
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EUR 1.47 billion
Exact value

Exact value: 1474000000 EUR

2022-01-01 – 2022-12-31: 1474000000 EUR Inspect Operating Cash Flow Open source
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EUR 601 million Capital expenditure here includes intangible assets.
Exact value

Exact value: 601000000 EUR

2022-01-01 – 2022-12-31: 601000000 EUR Inspect Capital Expenditure Including Intangibles Open source
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EUR 873 million Capital expenditure here includes intangible assets.
Calculation and evidence

1474000000 − 601000000 EUR

Exact free cash flow: 873000000 EUR

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2023 2023-01-01 – 2023-12-31
EUR 665 million
Exact value

Exact value: 665000000 EUR

2023-01-01 – 2023-12-31: 665000000 EUR Inspect Net Income Open source
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EUR 1.32 billion
Exact value

Exact value: 1317000000 EUR

2023-01-01 – 2023-12-31: 1317000000 EUR Inspect Operating Cash Flow Open source
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EUR 652 million Capital expenditure here includes intangible assets.
Exact value

Exact value: 652000000 EUR

2023-01-01 – 2023-12-31: 652000000 EUR Inspect Capital Expenditure Including Intangibles Open source
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EUR 665 million Capital expenditure here includes intangible assets.
Calculation and evidence

1317000000 − 652000000 EUR

Exact free cash flow: 665000000 EUR

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2024 2024-01-01 – 2024-12-31
EUR 1.28 billion
Exact value

Exact value: 1277000000 EUR

2024-01-01 – 2024-12-31: 1277000000 EUR Inspect Net Income Open source
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EUR 2.49 billion
Exact value

Exact value: 2493000000 EUR

2024-01-01 – 2024-12-31: 2493000000 EUR Inspect Operating Cash Flow Open source
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EUR 472 million Capital expenditure here includes intangible assets.
Exact value

Exact value: 472000000 EUR

2024-01-01 – 2024-12-31: 472000000 EUR Inspect Capital Expenditure Including Intangibles Open source
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EUR 2.02 billion Capital expenditure here includes intangible assets.
Calculation and evidence

2493000000 − 472000000 EUR

Exact free cash flow: 2021000000 EUR

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2025 2025-01-01 – 2025-12-31
EUR 651 million
Exact value

Exact value: 651000000 EUR

2025-01-01 – 2025-12-31: 651000000 EUR Inspect Net Income Open source
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EUR 2.07 billion
Exact value

Exact value: 2071000000 EUR

2025-01-01 – 2025-12-31: 2071000000 EUR Inspect Operating Cash Flow Open source
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EUR 606 million Capital expenditure here includes intangible assets.
Exact value

Exact value: 606000000 EUR

2025-01-01 – 2025-12-31: 606000000 EUR Inspect Capital Expenditure Including Intangibles Open source
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EUR 1.47 billion Capital expenditure here includes intangible assets.
Calculation and evidence

2071000000 − 606000000 EUR

Exact free cash flow: 1465000000 EUR

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

834 filings · 1,392 latest values · 1,392 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0000924613, 924613, NOK, NOKBF, edgar:924613

Also known as NOKIA CORP, NOKIA CORPORATION, Nokia Corp, Nokia Corporation