Nokia (NOKIA FH) Finland

Technology

MYST Advisors

NOKIA is undergoing a major transformation under new CEO Justin Hotard, who brings a Silicon Valley mindset to this legacy European company. The recent Infinera acquisition signals a strategic pivot from legacy RAN to high-growth hyperscale data centre infrastructure. The RAN business appears to have bottomed after a multi-year downturn, with pricing power set to improve amid the first hardware upcycle in a decade and increasing replacement of Huawei equipment in Western markets. NOKIA also benefits from stable IP licensing cash flows, expansion into new areas (Amazon streaming) and renewed momentum in networking. Despite a strong balance sheet, ~3.5% dividend yield and a clear path to margin expansion, the shares trade at just ~12x FY26 EPS. With potential EPS power of $0.70, the stock could “easily” double with minimal downside.

- 25 July, 2025

Nokia (NOKIA FH) Finland

Technology

ROCGA Research

Looks undervalued using ROCGA’s proprietary Cash Flow Returns On Investments based DCF valuation tools - ROCGA gives you the ability to identify, research and value companies. Current coverage is just over 1,850, with 930 NA, 505 UK and 415 European companies. Model the company, back test the assumptions up to 15 years, forecast forwards with EPS, DPS and growth estimates, and the valuation engine will crunch the numbers for you. More details on ROCGA’s systematic and interactive valuation tools can be found here. A free trial is available on request.

- 09 December, 2022