Nokia (ADR)
Builds fixed, IP, optical, radio, and core networks while licensing communications standards.
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Profile
Builds network infrastructure for telecommunications, cloud, AI, and mission-critical customers across fixed, IP, optical, radio, and core systems. Revenue depends on customer network spending, equipment and software execution, and standards-based patent licensing.
Builds network infrastructure through two primary segments. Network Infrastructure covers Optical Networks, IP Networks, and Fixed Networks, while Mobile Infrastructure combines Core Software, Radio Networks, and Technology Standards.
Headquartered in Finland, the portfolio serves telecommunications, cloud, AI infrastructure, and mission-critical networking customers. Bell Labs research supports work in network fundamentals, automation, semiconductors, devices, AI, and software systems, while the Infinera acquisition expands the optical perimeter.
Results depend on carrier, cloud-provider, and enterprise network spending, execution of the simplified operating model, and integration of Infinera. Technology Standards monetizes mobile-communications intellectual property through patent licensing, and the remaining Portfolio Businesses sit outside the two primary segments. The group also retains a transitional stake in Alcatel Submarine Networks pending the French State's planned purchase.
Company facts
Key statistics
Year to date +56.8% · Average volume (30d) 81.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 1, 2026 | Danske Bank | Upgrade | Hold | Buy | ||
| Jun 3, 2026 | Northland Securities | Target | $13 | $20 | ||
| Apr 27, 2026 | Argus Research | Upgrade | Hold | Buy | $15 | |
| Apr 20, 2026 | Northland Securities | Target | $8.50 | $13 | ||
| Nov 20, 2025 | New Street | Target | $6.57 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $0.07 | $0.08 | +14.3% | $5.57B | $5.48B | −1.7% | −6.47% |
| Apr 23, 2026Q1 FY26 | $0.06 | $0.06 | 0.0% | $5.33B | $5.27B | −1.2% | +1.26% |
| Jan 29, 2026Q4 FY25 | $0.17 | $0.21 | +23.5% | $7.12B | $7.31B | +2.6% | +2.23% |
| Oct 23, 2025Q3 FY25 | $0.06 | $0.07 | +16.7% | $6.12B | $5.66B | −7.4% | +2.11% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.09B | $5.27B | $5.59B | $7.10B | $5.21B | $5.58B | |
| Gross profit | $2.11B | $2.28B | $2.44B | $3.19B | $2.30B | $2.49B | |
| Operating income | −$55.6M | $92.7M | $276.9M | $506.3M | $73.0M | −$57.9M | |
| Net income | −$68.4M | $104.3M | $90.4M | $628.0M | $99.6M | $2.3M | |
| Diluted EPS | −$0.01 | $0.02 | $0.02 | $0.11 | $0.02 | $0.00 | |
| Gross margin | 41.5% | 43.4% | 43.7% | 45.0% | 44.2% | 44.6% | |
| Operating margin | -1.1% | 1.8% | 5.0% | 7.1% | 1.4% | -1.0% |
Fiscal years (4-quarter sums)FY21 $25.72B · FY22 $28.86B · FY23 $25.16B · FY24 $22.27B · FY25 $23.04B
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $5.94B · Total debt $3.89B · Total assets $43.19B · Shareholders' equity $24.56B
Dividends
Raised for 3 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 28, 2026 | Jul 28 | Aug 11 | $0.0462 | cut from $0.0471 |
| Apr 28, 2026 | Apr 28 | May 12 | $0.0471 | raised from $0.0356 |
| Feb 3, 2026 | Feb 3 | Feb 18 | $0.0356 | raised from $0.0346 |
| Oct 28, 2025 | Oct 28 | Nov 12 | $0.0346 | cut from $0.0466 |
| Jul 29, 2025 | Jul 29 | Aug 12 | $0.0466 | raised from $0.0445 |
| May 5, 2025 | May 5 | May 15 | $0.0445 | raised from $0.0312 |
| Feb 4, 2025 | Feb 4 | Feb 18 | $0.0312 | cut from $0.0326 |
| Oct 22, 2024 | Oct 22 | Nov 5 | $0.0326 | raised from $0.0324 |
Ownership
Shares outstanding 5.40B · Float —
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Nvidia Corp | 166.39M | 3.08% | 13F | Aug 14, 2026 |
| FMR LLC | 155.40M | 2.88% | 13F | Aug 13, 2026 |
| Arrowstreet Capital, Limited Partnership | 38.17M | 0.71% | 13F | Aug 13, 2026 |
| Alkeon Capital Management LLC | 36.00M | 0.67% | 13F | Aug 14, 2026 |
| Morgan Stanley | 33.21M | 0.61% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Ericsson (ADR)
Broadest listed rival across radio access and mobile core
- Cisco Systems
Major rival in service-provider IP routing and IP-optical convergence
- Ciena
Specialist rival in coherent optical transport and metro routing
- ADTRAN
Narrower rival in fiber access, aggregation, and metro optical transport
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Nokia (ADR) | $10.18 | −0.29% | $55.14B | 71.4 | 24.3 | 2.5 | +2.3% |
| Ericsson (ADR) | $9.91 | −0.35% | $32.67B | 12.9 | 20.2 | 1.4 | −6.7% |
| Cisco Systems | $109.95 | +0.01% | $433.28B | 33.0 | 21.4 | 6.8 | +17.6% |
| Ciena | $379.00 | +0.24% | $53.57B | 126.1 | 48.3 | 9.6 | +39.5% |
| ADTRAN | $7.81 | +1.23% | $625.3M | — | 21.7 | 0.5 | +6.1% |
| Median | 33.0 | 21.6 | 4.1 | +11.8% |