BUL/NOA3 (BUL/NOA3)

Bulgarian Stock Exchange: BUL/NOA3 · EUR

€7.98

+0.00 (0.0%)· Recorded snapshot

Market cap	46.5B
Revenue (ttm)	20.8B
Net income (ttm)	782M
EPS (ttm)	€0.14
P/E (trailing)	58.2x
P/E (forward)	19.5x
Dividend	€0.14 (1.75%)
Volume	1,300

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 20.8B
Net income (ttm): 782M
EPS (ttm): €0.14
P/E (trailing): 58.2x
P/E (forward): 19.5x
Market cap: 46.5B

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-29 19:55 UTC

Forward P/E19.5

P25 n/aP50 n/aP75 n/a

Trailing P/E58.2

P25 n/aP50 n/aP75 n/a

ROE3.9

P25 n/aP50 n/aP75 n/a

ROIC7.8

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

S&P 500+0.6%

Nasdaq Composite-2.3%

Dow Jones Industrial Average+1.9%

Russell 2000+1.8%

All BUL/NOA3 indicators

Market & fundamental data

Available fields

226

Groups with data

Currency

EUR

Showing 226 of 226 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	EUR
Country	Finland
Country code	BG
Earnings date	2026-10-22
Employees	78,005
Employees change	-429
Employees growth	-0.55%
Enterprise value	EUR 44.9B
Exchange	Bulgarian Stock Exchange
Financial currency	EUR
Financial report date	2026-09-30
First seen	2026-10-10
Fiscal year end	December
Founded	1865
Industry	Communication Equipment
Is primary listing	No
ISIN number	FI0009000681
Last earnings date	2026-10-22
Last refreshed	2026-10-29
Market cap	EUR 46.5B
Next earnings date	2027-01-28
Price	EUR 7.98
Price currency	EUR
Sector	Technology
SIC code	3663
Stock price date	2026-10-27
Symbol	bul/NOA3
Website	https://www.nokia.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Average P/E ratio (3Y)	41.73x
Average P/E ratio (5Y)	29.43x
Earnings yield	1.72%
EV/Earnings	57.46x
EV/EBIT	21.64x
EV/EBITDA	15.05x
EV/FCF	8,987.24x
EV/Sales	2.16x
FCF / EV yield	0.01%
FCF yield	0.01%
Forward P/E	19.48x
Graham number	3.32614
Graham upside	-58.31%
Lynch fair value	EUR 0.67
Lynch upside	-91.59%
P/(OCF - SBC) ratio	220.24x
P/B ratio	2.18x
P/E ratio	58.24x
P/FCF ratio	9,294.24x
P/OCF ratio	73.88x
P/S ratio	2.23x
Price / tangible book value	3.37x
Price/EBITDA ratio	16.87x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	9.89%
EBITDA margin	13.21%
Effective tax rate	25.75%
FCF margin	0.02%
Gross margin	45.43%
Operating margin	9.89%
Pretax margin	5.14%
Profit margin	3.75%
Profit per employee	EUR 10,025
Profitable quarters	6
Profitable years	5
Revenue per employee	EUR 267,265
ROA	3.49%
ROA (5Y)	3.24%
ROCE	7.52%
ROE	3.88%
ROE (5Y)	9.41%
ROIC	7.8%
ROIC (5Y)	10.13%
SBC / revenue	2%
Tax / revenue	1.32%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-17.82%
EPS growth (Q)	222.13%
EPS growth (QoQ)	7,558.14%
EPS growth 10Y	6.24%
EPS growth 3Y	-41.58%
EPS growth quarters	1
EPS growth years	0
FCF growth	-99.61%
FCF growth 5Y	-71.09%
Gross profit growth	7.87%
Gross profit growth (Q)	9.18%
Gross profit growth 3Y	-0.08%
Gross profit growth 5Y	0.8%
Net income growth	-15.82%
Net income growth (Q)	94.87%
Net income growth (QoQ)	7,500%
Net income growth 3Y	-41.28%
Net income growth years	0
OCF growth	-66.96%
OCF growth (Q)	-84.09%
OCF growth 3Y	255.5%
OCF growth 5Y	-26.92%
Operating income growth	19.9%
Operating income growth (Q)	70.34%
Operating income growth 3Y	-3.73%
Operating income growth 5Y	-3.14%
Revenue growth	7.32%
Revenue growth (Q)	9.66%
Revenue growth (QoQ)	7.04%
Revenue growth 10Y	0.12%
Revenue growth 3Y	-3.46%
Revenue growth 5Y	-1.37%
Revenue growth quarters	6
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	EUR -624M
Depreciation and amortization	EUR 694M
EBIT	EUR 2.1B
EBITDA	EUR 2.8B
EPS	EUR 0.14
Financing cash flow	EUR -1.2B
Free cash flow	EUR 5M
Free cash flow minus SBC	EUR -413M
Gross profit	EUR 9.5B
Income taxes	EUR 276M
Investing cash flow	EUR -374M
Net borrowing	EUR -787M
Net cash flow	EUR -843M
Net income	EUR 782M
Operating cash flow minus SBC	EUR 211M
Operating income	EUR 2.1B
Revenue	EUR 20.8B
Stock-based compensation	EUR 418M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	2.56
Book value per share	EUR 3.75
Debt / EBITDA	1.14
Debt / equity	0.16
Debt / FCF	674.8
Goodwill	EUR 6.2B
Interest coverage	11.78
Long-term assets	EUR 22.7B
Long-term liabilities	EUR 6.1B
Net cash (debt)	EUR 1.6B
Net cash / market cap	3.51%
Net cash growth	2%
Net debt / EBITDA	-0.59
Net debt / equity	-0.08
Net debt / FCF	-326.4
Piotroski F-Score	6
Property, plant and equipment	EUR 2.6B
Shareholders' equity	EUR 21.3B
Tangible book value	EUR 13.8B
Tangible book value per share	EUR 2.44
Total assets	EUR 37.7B
Total cash	EUR 5B
Total debt	EUR 3.4B
Total liabilities	EUR 16.3B

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.57
Current assets	EUR 15B
Current liabilities	EUR 10.3B
Current ratio	1.46
Inventory turnover	4.33
Net working capital	EUR 489M
Quick ratio	1.18
Working capital	EUR 4.7B
Working capital turnover	4.45

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-3.76%
Dividend growth	0%
Dividend growth (3Y)	5.27%
Dividend growth years	0
Dividend payment date	2026-11-05
Dividend payment years	5
Dividend payout frequency	Quarterly
Dividend per share	EUR 0.14
Dividend yield	1.76%
Ex-dividend date	2027-02-01
Last dividend	EUR 0.03
Payout ratio	99.62%
Shareholder yield	-2%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
1D price change	0%
1M price change	-15.7%
1M total return	-15.37%
1W price change	4.45%
1W total return	4.86%
1Y price change	65.45%
1Y return CAGR	69.75%
1Y total return	69.69%
20-day SMA	EUR 8.91
3M price change	-15.09%
3M total return	-14.39%
3Y price change	115.27%
3Y return CAGR	33.45%
3Y total return	137.69%
50-day SMA	EUR 6.89
52-week high	EUR 13.83
52-week high date	2026-05-27
52-week low	EUR 6.67
52-week low date	2026-03-06
5Y price change	60.52%
5Y return CAGR	12.82%
5Y total return	82.77%
6M price change	-7.92%
6M total return	-6.73%
All-time high	EUR 13.83
All-time high date	2026-05-27
All-time low	EUR 2.72
All-time low date	2023-12-05
Average true range (ATR)	EUR 0.58
Average volume	1.6K
Change from 52-week high	-42.29%
Change from 52-week low	19.57%
Change from all-time high	-42.29%
Change from all-time low	193.09%
Change from open	0.96%
Dollar volume	EUR 10,371
High price	EUR 7.98
Low price	EUR 7.90
Monthly RSI	55.15
Open price	EUR 7.90
Position in 52-week range	100%
Price vs 20-day SMA	-10.46%
Price vs 50-day SMA	15.82%
Relative volume	0.83
RSI	47.14
Sharpe ratio	1.55
Sortino ratio	3.1
Volume	1.3K
Weekly RSI	56.85
YTD price change	65.45%
YTD total return	69.69%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	4.5B
Shares change (QoQ)	-0.97%
Shares change (YoY)	3.76%
Shares held by insiders	0.33%
Shares held by institutions	53.02%

Deeper analysis on BUL/NOA3

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Six-factor overlay and 9-category weighted scorecard.

→

Recommendation

Final action, action steps, opportunity, and biggest risk.

→

Perspectives

Growth, value, and income investor reads.

→

Frequently asked questions

About this BUL/NOA3 report

Is a complete BUL/NOA3 research report available?

No complete published report is available for bul/NOA3 (BUL/NOA3) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

Market cap

46.5B

Revenue (ttm)

20.8B

Net income (ttm)

782M

EPS (ttm)

€0.14

P/E (trailing)

58.2x

P/E (forward)

19.5x

Dividend

€0.14 (1.75%)

Volume

1,300

Metric

Value

Amount currency

EUR

Country

Finland

Country code

Earnings date

2026-10-22

Employees

78,005

Employees change

-429

Employees growth

-0.55%

Enterprise value

EUR 44.9B

Exchange

Bulgarian Stock Exchange

Financial currency

EUR

Financial report date

2026-09-30

First seen

2026-10-10

Fiscal year end

December

Founded

1865

Industry

Communication Equipment

Is primary listing

ISIN number

FI0009000681

Last earnings date

2026-10-22

Last refreshed

2026-10-29

Market cap

EUR 46.5B

Next earnings date

2027-01-28

Price

EUR 7.98

Price currency

EUR

Sector

Technology

SIC code

3663

Stock price date

2026-10-27

Symbol

bul/NOA3

Website

https://www.nokia.com

Metric

Value

Average P/E ratio (3Y)

41.73x

Average P/E ratio (5Y)

29.43x

Earnings yield

1.72%

EV/Earnings

57.46x

EV/EBIT

21.64x

EV/EBITDA

15.05x

EV/FCF

8,987.24x

EV/Sales

2.16x

FCF / EV yield

0.01%

FCF yield

0.01%

Forward P/E

19.48x

Graham number

3.32614

Graham upside

-58.31%

Lynch fair value

EUR 0.67

Lynch upside

-91.59%

P/(OCF - SBC) ratio

220.24x

P/B ratio

2.18x

P/E ratio

58.24x

P/FCF ratio

9,294.24x

P/OCF ratio

73.88x

P/S ratio

2.23x

Price / tangible book value

3.37x

Price/EBITDA ratio

16.87x

Metric

Value

EBIT margin

9.89%

EBITDA margin

13.21%

Effective tax rate

25.75%

FCF margin

0.02%

Gross margin

45.43%

Operating margin

9.89%

Pretax margin

5.14%

Profit margin

3.75%

Profit per employee

EUR 10,025

Profitable quarters

Profitable years

Revenue per employee

EUR 267,265

ROA

3.49%

ROA (5Y)

3.24%

ROCE

7.52%

ROE

3.88%

ROE (5Y)

9.41%

ROIC

7.8%

ROIC (5Y)

10.13%

SBC / revenue

Tax / revenue

1.32%

Metric

Value

EPS growth

-17.82%

EPS growth (Q)

222.13%

EPS growth (QoQ)

7,558.14%

EPS growth 10Y

6.24%

EPS growth 3Y

-41.58%

EPS growth quarters

EPS growth years

FCF growth

-99.61%

FCF growth 5Y

-71.09%

Gross profit growth

7.87%

Gross profit growth (Q)

9.18%

Gross profit growth 3Y

-0.08%

Gross profit growth 5Y

0.8%

Net income growth

-15.82%

Net income growth (Q)

94.87%

Net income growth (QoQ)

7,500%

Net income growth 3Y

-41.28%

Net income growth years

OCF growth

-66.96%

OCF growth (Q)

-84.09%

OCF growth 3Y

255.5%

OCF growth 5Y

-26.92%

Operating income growth

19.9%

Operating income growth (Q)

70.34%

Operating income growth 3Y

-3.73%

Operating income growth 5Y

-3.14%

Revenue growth

7.32%

Revenue growth (Q)

9.66%

Revenue growth (QoQ)

7.04%

Revenue growth 10Y

0.12%

Revenue growth 3Y

-3.46%

Revenue growth 5Y

-1.37%

Revenue growth quarters

Revenue growth years

Metric

Value

Capital expenditures

EUR -624M

Depreciation and amortization

EUR 694M

EBIT

EUR 2.1B

EBITDA

EUR 2.8B

EPS

EUR 0.14

Financing cash flow

EUR -1.2B

Free cash flow

EUR 5M

Free cash flow minus SBC

EUR -413M

Gross profit

EUR 9.5B

Income taxes

EUR 276M

Investing cash flow

EUR -374M

Net borrowing

EUR -787M

Net cash flow

EUR -843M

Net income

EUR 782M

Operating cash flow minus SBC

EUR 211M

Operating income

EUR 2.1B

Revenue

EUR 20.8B

Stock-based compensation

EUR 418M

Metric

Value

Altman Z-Score

2.56

Book value per share

EUR 3.75

Debt / EBITDA

1.14

Debt / equity

0.16

Debt / FCF

674.8

Goodwill

EUR 6.2B

Interest coverage

11.78

Long-term assets

EUR 22.7B

Long-term liabilities

EUR 6.1B

Net cash (debt)

EUR 1.6B

Net cash / market cap

3.51%

Net cash growth

Net debt / EBITDA

-0.59

Net debt / equity

-0.08

Net debt / FCF

-326.4

Piotroski F-Score

Property, plant and equipment

EUR 2.6B

Shareholders' equity

EUR 21.3B

Tangible book value

EUR 13.8B

Tangible book value per share

EUR 2.44

Total assets

EUR 37.7B

Total cash

EUR 5B

Total debt

EUR 3.4B

Total liabilities

EUR 16.3B

Metric

Value

Asset turnover

0.57

Current assets

EUR 15B

Current liabilities

EUR 10.3B

Current ratio

1.46

Inventory turnover

4.33

Net working capital

EUR 489M

Quick ratio

1.18

Working capital

EUR 4.7B

Working capital turnover

4.45

Metric

Value

Buyback yield / dilution

-3.76%

Dividend growth

Dividend growth (3Y)

5.27%

Dividend growth years

Dividend payment date

2026-11-05

Dividend payment years

Dividend payout frequency

Quarterly

Dividend per share

EUR 0.14

Dividend yield

1.76%

Ex-dividend date

2027-02-01

Last dividend

EUR 0.03

Payout ratio

99.62%

Shareholder yield

-2%

Metric

Value

1D price change

1M price change

-15.7%

1M total return

-15.37%

1W price change

4.45%

1W total return

4.86%

1Y price change

65.45%

1Y return CAGR

69.75%

1Y total return

69.69%

20-day SMA

EUR 8.91

3M price change

-15.09%

3M total return

-14.39%

3Y price change

115.27%

3Y return CAGR

33.45%

3Y total return

137.69%

50-day SMA

EUR 6.89

52-week high

EUR 13.83

52-week high date

2026-05-27

52-week low

EUR 6.67

52-week low date

2026-03-06

5Y price change

60.52%

5Y return CAGR

12.82%

5Y total return

82.77%

6M price change

-7.92%

6M total return

-6.73%

All-time high

EUR 13.83

All-time high date

2026-05-27

All-time low

EUR 2.72

All-time low date

2023-12-05

Average true range (ATR)

EUR 0.58

Average volume

1.6K

Change from 52-week high

-42.29%

Change from 52-week low

19.57%

Change from all-time high

-42.29%

Change from all-time low

193.09%

Change from open

0.96%

Dollar volume

EUR 10,371

High price

EUR 7.98

Low price

EUR 7.90

Monthly RSI

55.15

Open price

EUR 7.90

Position in 52-week range

100%

Price vs 20-day SMA

-10.46%

Price vs 50-day SMA

15.82%

Relative volume

0.83

RSI

47.14

Sharpe ratio

1.55

Sortino ratio

3.1

Volume

1.3K

Weekly RSI

56.85

YTD price change

65.45%

YTD total return

69.69%

Metric

Value

Float

4.5B

Shares change (QoQ)

-0.97%

Shares change (YoY)

3.76%

Shares held by insiders

0.33%

Shares held by institutions

53.02%

BUL/NOA3 (BUL/NOA3)

Price

Financial snapshot

Fair-value bridge

Latest news · BUL/NOA3

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All BUL/NOA3 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on BUL/NOA3

Frequently asked questions

BUL/NOA3 (BUL/NOA3)

Price

Financial snapshot

Fair-value bridge

Latest news · BUL/NOA3

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All BUL/NOA3 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on BUL/NOA3

Frequently asked questions