Nokia Oyj (NOKIA) — Working Capital to Net Assets Ratio

Latest as of September 2025: 23.6%

Nokia Oyj (NOKIA) has a Working Capital to Net Assets ratio of 23.6% as of September 2025. Working capital of €4.65 Billion (current assets of €14.37 Billion minus current liabilities of €9.72 Billion) is measured against net assets of €19.67 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Nokia Oyj free cash flow to debt ratio to measure the company's free cash flow as a share of total liabilities.

WC/NA Ratio

23.6%
Working Capital / Net Assets

Working Capital

€4.65 Billion
EUR

Current Assets

€14.37 Billion
EUR

Current Liabilities

€9.72 Billion
EUR

Nokia Oyj Working Capital to Net Assets (1995–2024)

This chart shows how Nokia Oyj's Working Capital to Net Assets ratio has evolved across 30 annual periods from 1995 to 2024. As of September 2025, the ratio stands at 23.6%, reflecting working capital of €4.65 Billion against net assets of €19.67 Billion EUR. See Nokia Oyj defensive interval ratio to measure how many days the company can operate on defensive assets alone.

Annual Working Capital to Net Assets for Nokia Oyj (1995–2024)

The table below presents the year-by-year Working Capital to Net Assets ratio for Nokia Oyj from 1995 to 2024, covering 30 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see NOKIA stock market capitalisation.

Year WC/NA Ratio Working Capital (EUR) Net Assets Current Assets Current Liabilities Change (pp)
2024 31.8% €6.59 Billion €20.75 Billion €17.99 Billion €11.39 Billion ▼ -2.9 pp
2023 34.7% €7.15 Billion €20.63 Billion €18.09 Billion €10.93 Billion ▼ -0.3 pp
2022 35.0% €7.49 Billion €21.43 Billion €20.27 Billion €12.77 Billion ▼ -8.0 pp
2021 42.9% €7.50 Billion €17.46 Billion €19.60 Billion €12.10 Billion ▼ -8.4 pp
2020 51.3% €6.49 Billion €12.64 Billion €18.25 Billion €11.76 Billion ▲ +20.5 pp
2019 30.9% €4.75 Billion €15.40 Billion €16.81 Billion €12.05 Billion ▲ +3.9 pp
2018 27.0% €4.15 Billion €15.37 Billion €18.26 Billion €14.12 Billion ▼ -16.5 pp
2017 43.5% €7.06 Billion €16.22 Billion €19.86 Billion €12.81 Billion ▲ +4.8 pp
2016 38.7% €8.11 Billion €20.97 Billion €20.72 Billion €12.61 Billion ▼ -51.4 pp
2015 90.1% €9.43 Billion €10.47 Billion €15.82 Billion €6.39 Billion ▲ +15.9 pp
2014 74.2% €6.44 Billion €8.67 Billion €13.72 Billion €7.29 Billion ▼ -0.3 pp
2013 74.5% €4.96 Billion €6.66 Billion €19.14 Billion €14.18 Billion ▲ +8.6 pp
2012 66.0% €6.23 Billion €9.45 Billion €20.88 Billion €14.65 Billion ▲ +8.4 pp
2011 57.6% €8.01 Billion €13.92 Billion €25.45 Billion €17.44 Billion ▼ -1.6 pp
2010 59.2% €9.61 Billion €16.23 Billion €27.14 Billion €17.54 Billion ▲ +2.1 pp
2009 57.1% €8.43 Billion €14.75 Billion €23.61 Billion €15.19 Billion ▲ +32.2 pp
2008 24.9% €4.12 Billion €16.55 Billion €24.53 Billion €20.40 Billion ▼ -34.6 pp
2007 59.5% €10.33 Billion €17.37 Billion €29.34 Billion €19.01 Billion ▼ -10.4 pp
2006 69.9% €8.43 Billion €12.06 Billion €18.59 Billion €10.16 Billion ▼ -5.2 pp
2005 75.1% €9.27 Billion €12.35 Billion €18.94 Billion €9.66 Billion ▼ -5.0 pp
2004 80.1% €11.53 Billion €14.40 Billion €19.49 Billion €7.96 Billion ▲ +3.0 pp
2003 77.1% €11.78 Billion €15.29 Billion €20.05 Billion €8.27 Billion ▲ +13.6 pp
2002 63.5% €9.18 Billion €14.47 Billion €17.60 Billion €8.42 Billion ▲ +15.5 pp
2001 48.0% €5.96 Billion €12.42 Billion €15.54 Billion €9.58 Billion ▲ +3.3 pp
2000 44.7% €4.92 Billion €11.02 Billion €13.54 Billion €8.62 Billion ▼ -14.3 pp
1999 58.9% €4.43 Billion €7.52 Billion €10.82 Billion €6.39 Billion ▼ -6.1 pp
1998 65.0% €3.34 Billion €5.15 Billion €7.78 Billion €4.43 Billion ▲ +0.9 pp
1997 64.1% €2.33 Billion €3.64 Billion €5.41 Billion €3.08 Billion ▲ +1.7 pp
1996 62.4% €1.72 Billion €2.75 Billion €4.29 Billion €2.57 Billion ▲ +7.9 pp
1995 54.5% €1.38 Billion €2.53 Billion €4.22 Billion €2.84 Billion —
pp = percentage points