We have made changes to our estimates ahead of Nokia's Q4 results on January 26. These are related to Nokia Technologies, where pending patent disputes with Oppo and Vivo couldn’t be resolved during Q4. We now expect contracts to emerge during Q1'23 and this will shift patent revenue from Q4'22 to Q1’23. In the big picture, this has no impact on our view of the stock, whose valuation looks moderate in light of Nokia's current earnings performance.
Nokia
Nokia is a global telecommunications company. The company offers solutions in IP, broadband, digital health, and cloud-based systems. The customers are found in a broad base of markets and consist of large corporate customers, authorities, and private consumers. The business is established on a global level in all regions. Nokia was founded in 1865 and the head office is located in Esbo, Finland.
Read more on company pageKey Estimate Figures10.01.2023
2021 | 22e | 23e | |
---|---|---|---|
Omsætning | 22.202,0 | 24.751,7 | 25.594,3 |
vækst-% | 1,60 % | 11,48 % | 3,40 % |
EBIT (adj.) | 2.775,0 | 2.828,7 | 3.183,2 |
EBIT-% (adj.) | 12,50 % | 11,43 % | 12,44 % |
EPS (adj.) | 0,37 | 0,39 | 0,44 |
Udbytte | 0,08 | 0,12 | 0,18 |
P/E (adj.) | 15,27 | 8,40 | 7,51 |
EV/EBITDA | 8,41 | 4,12 | 3,26 |