Nokia
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. It operates in four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company offers fixed network solutions, such as fiber and copper technologie… Read more
Nokia (NOKIA-SEK) - Net Assets
Latest net assets as of December 2025: Skr21.04 Billion SEK
Based on the latest financial reports, Nokia (NOKIA-SEK) has net assets worth Skr21.04 Billion SEK as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Skr37.56 Billion) and total liabilities (Skr16.52 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Skr21.04 Billion |
| % of Total Assets | 56.01% |
| Annual Growth Rate | 7.31% |
| 5-Year Change | 20.48% |
| 10-Year Change | 0.31% |
| Growth Volatility | 27.73 |
Nokia - Net Assets Trend (1995–2025)
This chart illustrates how Nokia's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Nokia (1995–2025)
The table below shows the annual net assets of Nokia from 1995 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | Skr21.04 Billion | +1.41% |
| 2024-12-31 | Skr20.75 Billion | +0.58% |
| 2023-12-31 | Skr20.63 Billion | -3.72% |
| 2022-12-31 | Skr21.43 Billion | +22.70% |
| 2021-12-31 | Skr17.46 Billion | +38.19% |
| 2020-12-31 | Skr12.64 Billion | -17.95% |
| 2019-12-31 | Skr15.40 Billion | +0.20% |
| 2018-12-31 | Skr15.37 Billion | -5.22% |
| 2017-12-31 | Skr16.22 Billion | -22.68% |
| 2016-12-31 | Skr20.97 Billion | +100.36% |
| 2015-12-31 | Skr10.47 Billion | +20.75% |
| 2014-12-31 | Skr8.67 Billion | +30.17% |
| 2013-12-31 | Skr6.66 Billion | -29.50% |
| 2012-12-31 | Skr9.45 Billion | -32.11% |
| 2011-12-31 | Skr13.92 Billion | -14.26% |
| 2010-12-31 | Skr16.23 Billion | +10.05% |
| 2009-12-31 | Skr14.75 Billion | -10.88% |
| 2008-12-31 | Skr16.55 Billion | -4.70% |
| 2007-12-31 | Skr17.37 Billion | +44.00% |
| 2006-12-31 | Skr12.06 Billion | -2.36% |
| 2005-12-31 | Skr12.35 Billion | -14.21% |
| 2004-12-31 | Skr14.40 Billion | -5.82% |
| 2003-12-31 | Skr15.29 Billion | +5.65% |
| 2002-12-31 | Skr14.47 Billion | +16.46% |
| 2001-12-31 | Skr12.42 Billion | +12.77% |
| 2000-12-31 | Skr11.02 Billion | +46.45% |
| 1999-12-31 | Skr7.52 Billion | +46.13% |
| 1998-12-31 | Skr5.15 Billion | +41.38% |
| 1997-12-31 | Skr3.64 Billion | +32.23% |
| 1996-12-31 | Skr2.75 Billion | +8.74% |
| 1995-12-31 | Skr2.53 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Nokia's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 91.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Skr1.86 Billion | 8.86% |
| Common Stock | Skr245.78 Million | 1.17% |
| Other Comprehensive Income | Skr-1.27 Billion | -6.07% |
| Other Components | Skr20.12 Billion | 96.04% |
| Total Equity | Skr20.95 Billion | 100.00% |
Nokia Competitors by Market Cap
The table below lists competitors of Nokia ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
M&T Bank Corporation
NYSE:MTB
|
$30.25 Billion |
|
United Airlines Holdings Inc
NASDAQ:UAL
|
$30.25 Billion |
|
Atmos Energy Corporation
NYSE:ATO
|
$30.35 Billion |
|
ESSILORLUXOTTICA 1/2/O.N.
F:ESLC
|
$30.35 Billion |
|
Luxshare Precision Industry Co Ltd
SHE:002475
|
$30.11 Billion |
|
DTE Energy Company
NYSE:DTE
|
$30.10 Billion |
|
Ashtead Gro
PINK:ASHTY
|
$30.08 Billion |
|
Copart Inc
NASDAQ:CPRT
|
$30.07 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Nokia's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 20,657,000,000 to 20,947,990,000, a change of 290,990,000 (1.4%).
- Net income of 628,429,716 contributed positively to equity growth.
- Dividend payments of 752,317,292 reduced retained earnings.
- Share repurchases of 623,434,249 reduced equity.
- New share issuances of 859,000,000 increased equity.
- Other comprehensive income decreased equity by 19,422,847,000.
- Other factors increased equity by 19,602,158,825.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Skr628.43 Million | +3.0% |
| Dividends Paid | Skr752.32 Million | -3.59% |
| Share Repurchases | Skr623.43 Million | -2.98% |
| Share Issuances | Skr859.00 Million | +4.1% |
| Other Comprehensive Income | Skr-19.42 Billion | -92.72% |
| Other Changes | Skr19.60 Billion | +93.58% |
| Total Change | Skr- | 1.41% |
Book Value vs Market Value Analysis
This analysis compares Nokia's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 20.42x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 151.60x to 20.42x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1995-12-31 | Skr0.51 | Skr77.72 | x |
| 1996-12-31 | Skr0.07 | Skr77.72 | x |
| 1997-12-31 | Skr0.09 | Skr77.72 | x |
| 1998-12-31 | Skr0.54 | Skr77.72 | x |
| 1999-12-31 | Skr0.39 | Skr77.72 | x |
| 2000-12-31 | Skr2.26 | Skr77.72 | x |
| 2001-12-31 | Skr2.55 | Skr77.72 | x |
| 2002-12-31 | Skr2.99 | Skr77.72 | x |
| 2003-12-31 | Skr3.18 | Skr77.72 | x |
| 2004-12-31 | Skr3.09 | Skr77.72 | x |
| 2005-12-31 | Skr2.78 | Skr77.72 | x |
| 2006-12-31 | Skr2.93 | Skr77.72 | x |
| 2007-12-31 | Skr3.76 | Skr77.72 | x |
| 2008-12-31 | Skr3.77 | Skr77.72 | x |
| 2009-12-31 | Skr3.52 | Skr77.72 | x |
| 2010-12-31 | Skr3.87 | Skr77.72 | x |
| 2011-12-31 | Skr3.20 | Skr77.72 | x |
| 2012-12-31 | Skr2.17 | Skr77.72 | x |
| 2013-12-31 | Skr1.74 | Skr77.72 | x |
| 2014-12-31 | Skr2.08 | Skr77.72 | x |
| 2015-12-31 | Skr2.65 | Skr77.72 | x |
| 2016-12-31 | Skr3.50 | Skr77.72 | x |
| 2017-12-31 | Skr2.86 | Skr77.72 | x |
| 2018-12-31 | Skr2.72 | Skr77.72 | x |
| 2019-12-31 | Skr2.72 | Skr77.72 | x |
| 2020-12-31 | Skr2.24 | Skr77.72 | x |
| 2021-12-31 | Skr3.08 | Skr77.72 | x |
| 2022-12-31 | Skr3.80 | Skr77.72 | x |
| 2023-12-31 | Skr3.68 | Skr77.72 | x |
| 2024-12-31 | Skr3.73 | Skr77.72 | x |
| 2025-12-31 | Skr3.81 | Skr77.72 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Nokia utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.00%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.16%
- • Asset Turnover: 0.53x
- • Equity Multiplier: 1.79x
- Recent ROE (3.00%) is below the historical average (13.95%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | 16.17% | 6.06% | 1.12x | 2.37x | Skr151.58 Million |
| 1996 | 21.78% | 8.82% | 1.18x | 2.09x | Skr323.72 Million |
| 1997 | 29.08% | 11.89% | 1.26x | 1.94x | Skr688.27 Million |
| 1998 | 34.26% | 13.14% | 1.33x | 1.96x | Skr1.23 Billion |
| 1999 | 34.93% | 13.03% | 1.38x | 1.94x | Skr1.84 Billion |
| 2000 | 36.44% | 12.96% | 1.53x | 1.84x | Skr2.87 Billion |
| 2001 | 18.03% | 7.05% | 1.39x | 1.84x | Skr981.40 Million |
| 2002 | 23.67% | 11.26% | 1.29x | 1.63x | Skr1.95 Billion |
| 2003 | 23.71% | 12.20% | 1.23x | 1.58x | Skr2.07 Billion |
| 2004 | 22.52% | 10.96% | 1.29x | 1.59x | Skr1.78 Billion |
| 2005 | 29.75% | 10.58% | 1.53x | 1.83x | Skr2.40 Billion |
| 2006 | 35.98% | 10.47% | 1.82x | 1.89x | Skr3.11 Billion |
| 2007 | 48.77% | 14.11% | 1.36x | 2.55x | Skr5.74 Billion |
| 2008 | 28.07% | 7.86% | 1.28x | 2.79x | Skr2.57 Billion |
| 2009 | 6.81% | 2.17% | 1.15x | 2.73x | Skr-417.80 Million |
| 2010 | 9.34% | 3.16% | 1.08x | 2.72x | Skr-95.40 Million |
| 2011 | -9.80% | -3.01% | 1.07x | 3.05x | Skr-2.35 Billion |
| 2012 | -38.53% | -10.29% | 1.01x | 3.72x | Skr-3.91 Billion |
| 2013 | -9.51% | -4.84% | 0.50x | 3.90x | Skr-1.26 Billion |
| 2014 | 40.20% | 27.19% | 0.60x | 2.45x | Skr2.60 Billion |
| 2015 | 23.61% | 19.73% | 0.60x | 2.00x | Skr1.42 Billion |
| 2016 | -3.81% | -3.24% | 0.53x | 2.23x | Skr-2.78 Billion |
| 2017 | -9.26% | -6.45% | 0.56x | 2.54x | Skr-3.11 Billion |
| 2018 | -2.22% | -1.51% | 0.57x | 2.59x | Skr-1.87 Billion |
| 2019 | 0.05% | 0.03% | 0.60x | 2.55x | Skr-1.53 Billion |
| 2020 | -19.36% | -11.12% | 0.60x | 2.89x | Skr-3.69 Billion |
| 2021 | 9.35% | 7.31% | 0.55x | 2.31x | Skr-113.00 Million |
| 2022 | 19.92% | 17.06% | 0.58x | 2.01x | Skr2.12 Billion |
| 2023 | 3.24% | 2.99% | 0.56x | 1.94x | Skr-1.39 Billion |
| 2024 | 6.18% | 6.64% | 0.49x | 1.90x | Skr-788.70 Million |
| 2025 | 3.00% | 3.16% | 0.53x | 1.79x | Skr-1.47 Billion |
Industry Comparison
This section compares Nokia's net assets metrics with peer companies in the Communication Equipment industry.
Industry Context
- Industry: Communication Equipment
- Average net assets among peers: $2,163,463,401
- Average return on equity (ROE) among peers: -149.99%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Nokia (NOKIA-SEK) | Skr21.04 Billion | 16.17% | 0.79x | $30.16 Billion |
| Alcadon Group AB (ALCA) | $669.46 Million | 5.66% | 1.36x | $31.47 Million |
| DORO AB (DORO) | $683.70 Million | 13.38% | 1.14x | $86.67 Million |
| Ependion AB (EPEN) | $688.68 Million | 9.43% | 1.97x | $185.24 Million |
| Telefonaktiebolaget LM Ericsson (publ) (ERIC-A) | $19.22 Billion | 2.49% | 1.92x | $29.18 Billion |
| Gapwaves AB Series B (GAPW-B) | $29.57 Million | -29.04% | 0.29x | $23.61 Million |
| Hitech & Development Wireless Sweden Holding AB (publ) (HDW-B) | $59.21 Million | -38.86% | 0.39x | $480.08K |
| InCoax Networks AB (INCOAX) | $24.62 Million | -234.91% | 0.72x | $2.99 Million |
| Invisio Communications AB (IVSO) | $4.07 Million | -1103.24% | 10.66x | $1.15 Billion |
| KebNi AB (publ) (KEBNI-B) | $43.50 Million | -147.33% | 0.46x | $17.98 Million |
| LumenRadio AB (LUMEN) | $209.92 Million | 22.53% | 0.53x | $42.11 Million |