Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of Nokia Oyj.
Income Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.26B | $24.91B | $22.20B | $21.87B | $23.32B | $22.56B | $23.15B | $23.61B | $12.50B | $12.73B |
| Cost of Revenue | $13.42B | $14.69B | $13.37B | $13.65B | $14.99B | $14.12B | $14.01B | $15.16B | $7.04B | $7.09B |
| Gross Profit | $8.84B | $10.22B | $8.83B | $8.21B | $8.33B | $8.45B | $9.14B | $8.46B | $5.45B | $5.64B |
| Gross Profit Ratio | 39.72% | 41.03% | 39.79% | 37.56% | 35.71% | 37.43% | 39.48% | 35.81% | 43.64% | 44.28% |
| Research and Development Expenses | $4.27B | $4.55B | $4.21B | $4.09B | $4.41B | $4.62B | $4.92B | $4.90B | $2.13B | $2.49B |
| General and Administrative Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Selling and Marketing Expenses | $- | $3.01B | $2.79B | $2.90B | $3.10B | $3.46B | $3.62B | $3.82B | $1.65B | $1.63B |
| Selling General and Administrative Expenses | $2.29B | $3.01B | $2.79B | $2.90B | $3.10B | $3.46B | $3.62B | $3.82B | $1.65B | $1.63B |
| Other Expenses | $-143.00M | $341.00M | $-330.00M | $311.00M | $-329.00M | $-422.00M | $-591.00M | $-833.00M | $12.00M | $-132.00M |
| Operating Expenses | $6.70B | $7.90B | $6.68B | $7.30B | $7.51B | $8.08B | $8.53B | $8.72B | $3.78B | $4.26B |
| Cost and Expenses | $20.12B | $22.59B | $20.04B | $20.95B | $22.50B | $22.20B | $22.54B | $23.88B | $10.82B | $11.35B |
| Interest Income | $220.00M | $174.00M | $75.00M | $59.00M | $73.00M | $76.00M | $60.00M | $113.00M | $37.00M | $73.00M |
| Interest Expense | $291.00M | $222.00M | $206.00M | $235.00M | $308.00M | $282.00M | $509.00M | $317.00M | $139.00M | $391.00M |
| Depreciation and Amortization | $1.09B | $1.14B | $1.13B | $1.14B | $1.68B | $1.46B | $1.59B | $1.59B | $320.00M | $297.00M |
| EBITDA | $3.23B | $3.46B | $3.25B | $2.05B | $2.47B | $1.82B | $2.20B | $1.33B | $2.00B | $2.59B |
| EBITDA Ratio | 14.50% | 13.88% | 14.65% | 9.37% | 10.61% | 8.06% | 9.50% | 5.62% | 15.97% | 20.33% |
| Operating Income | $2.14B | $2.32B | $2.16B | $918.00M | $814.00M | $-59.00M | $16.00M | $-1.10B | $1.69B | $170.00M |
| Operating Income Ratio | 9.61% | 9.31% | 9.72% | 4.20% | 3.49% | -0.26% | 0.07% | -4.66% | 13.51% | 1.34% |
| Total Other Income Expenses Net | $-602.00M | $-134.00M | $-232.00M | $-84.00M | $-658.00M | $-410.00M | $-580.00M | $-815.00M | $41.00M | $-1.22B |
| Income Before Tax | $1.54B | $2.18B | $1.93B | $834.00M | $156.00M | $-360.00M | $-510.00M | $-1.37B | $1.54B | $-237.00M |
| Income Before Tax Ratio | 6.91% | 8.77% | 8.67% | 3.81% | 0.67% | -1.60% | -2.20% | -5.80% | 12.32% | -1.86% |
| Income Tax Expense | $825.00M | $-2.03B | $272.00M | $3.25B | $138.00M | $189.00M | $927.00M | $-457.00M | $346.00M | $-1.41B |
| Net Income | $665.00M | $4.25B | $1.62B | $-2.42B | $18.00M | $-340.00M | $-1.49B | $-766.00M | $2.47B | $3.46B |
| Net Income Ratio | 2.99% | 17.06% | 7.31% | -11.07% | 0.08% | -1.51% | -6.45% | -3.24% | 19.73% | 27.19% |
| EPS | $0.12 | $0.76 | $0.29 | $-0.43 | $0.00 | $-0.06 | $-0.26 | $-0.13 | $0.67 | $0.94 |
| EPS Diluted | $0.12 | $0.75 | $0.29 | $-0.43 | $0.00 | $-0.06 | $-0.26 | $-0.13 | $0.62 | $0.84 |
| Weighted Average Shares Outstanding | 5.55B | 5.61B | 5.63B | 5.61B | 5.60B | 5.54B | 5.65B | 5.73B | 3.67B | 3.70B |
| Weighted Average Shares Outstanding Diluted | 5.59B | 5.67B | 5.68B | 5.61B | 5.63B | 5.59B | 5.65B | 5.74B | 3.95B | 4.13B |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $6.23B | $5.47B | $6.69B | $6.94B | $5.91B | $6.26B | $7.37B | $7.50B | $7.00B | $5.17B |
| Short Term Investments | $1.56B | $3.69B | $2.91B | $1.33B | $261.00M | $855.00M | $1.21B | $2.12B | $2.96B | $2.81B |
| Cash and Short Term Investments | $7.80B | $9.16B | $9.60B | $8.28B | $6.17B | $7.12B | $8.58B | $9.62B | $9.96B | $7.98B |
| Net Receivables | $6.94B | $7.84B | $6.74B | $6.88B | $6.83B | $7.03B | $7.43B | $7.34B | $4.26B | $3.55B |
| Inventory | $2.72B | $3.27B | $2.39B | $2.25B | $2.94B | $3.18B | $2.65B | $2.51B | $1.01B | $1.27B |
| Other Current Assets | $628.00M | $10.36B | $859.00M | $850.00M | $875.00M | $1.88B | $971.00M | $1.15B | $551.00M | $670.00M |
| Total Current Assets | $18.09B | $20.27B | $19.60B | $18.25B | $16.81B | $18.26B | $19.86B | $20.72B | $15.82B | $13.72B |
| Property Plant Equipment Net | $2.86B | $2.94B | $2.81B | $2.59B | $2.77B | $1.79B | $1.85B | $1.98B | $695.00M | $716.00M |
| Goodwill | $5.50B | $5.67B | $5.43B | $5.07B | $5.53B | $5.45B | $5.25B | $5.72B | $237.00M | $2.56B |
| Intangible Assets | $1.09B | $1.26B | $1.62B | $1.95B | $2.43B | $3.35B | $3.97B | $5.24B | $323.00M | $350.00M |
| Goodwill and Intangible Assets | $6.59B | $6.93B | $7.05B | $7.03B | $7.96B | $8.80B | $9.22B | $10.96B | $560.00M | $2.91B |
| Long Term Investments | $1.94B | $1.98B | $1.33B | $1.34B | $1.35B | $1.21B | $1.16B | $1.41B | $1.03B | $879.00M |
| Tax Assets | $8.68B | $3.83B | $1.27B | $1.82B | $5.12B | $4.91B | $4.58B | $5.70B | $2.63B | $2.72B |
| Other Non-Current Assets | $6.51B | $6.99B | $8.00B | $5.25B | $5.12B | $4.55B | $4.35B | $4.13B | $125.00M | $111.00M |
| Total Non-Current Assets | $26.57B | $22.68B | $20.45B | $18.03B | $22.32B | $21.27B | $21.16B | $24.18B | $5.05B | $7.34B |
| Other Assets | $- | $- | $- | $- | $- | $- | $-1.00M | $- | $- | $- |
| Total Assets | $44.66B | $42.94B | $40.05B | $36.28B | $39.13B | $39.53B | $41.02B | $44.90B | $20.87B | $21.06B |
| Account Payables | $3.42B | $4.73B | $3.68B | $3.17B | $3.79B | $4.78B | $4.00B | $3.78B | $1.91B | $2.31B |
| Short Term Debt | $752.00M | $412.00M | $301.00M | $750.00M | $551.00M | $994.00M | $309.00M | $371.00M | $51.00M | $116.00M |
| Tax Payables | $203.00M | $185.00M | $202.00M | $188.00M | $187.00M | $268.00M | $383.00M | $634.00M | $446.00M | $481.00M |
| Deferred Revenue | $2.16B | $1.98B | $2.29B | $2.40B | $2.91B | $2.91B | $3.58B | $3.18B | $1.86B | $1.83B |
| Other Current Liabilities | $4.60B | $5.66B | $5.83B | $5.44B | $4.81B | $5.43B | $4.93B | $5.28B | $2.57B | $3.03B |
| Total Current Liabilities | $10.93B | $12.77B | $12.10B | $11.76B | $12.05B | $14.12B | $12.81B | $12.61B | $6.39B | $7.29B |
| Long Term Debt | $3.64B | $5.11B | $5.36B | $5.74B | $4.76B | $2.83B | $3.46B | $3.66B | $2.02B | $2.58B |
| Deferred Revenue Non-Current | $210.00M | $120.00M | $354.00M | $566.00M | $1.53B | $1.88B | $2.14B | $1.17B | $1.24B | $2.20B |
| Deferred Tax Liabilities Non-Current | $5.53B | $332.00M | $282.00M | $260.00M | $390.00M | $350.00M | $413.00M | $403.00M | $62.00M | $32.00M |
| Other Non-Current Liabilities | $3.73B | $3.18B | $4.49B | $5.32B | $5.00B | $4.99B | $5.99B | $6.09B | $691.00M | $301.00M |
| Total Non-Current Liabilities | $13.10B | $8.74B | $10.49B | $11.88B | $11.67B | $10.04B | $12.00B | $11.32B | $4.01B | $5.11B |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $24.03B | $21.52B | $22.59B | $23.65B | $23.73B | $24.16B | $24.81B | $23.93B | $10.40B | $12.39B |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $246.00M | $246.00M | $246.00M | $246.00M | $246.00M | $246.00M | $246.00M | $246.00M | $246.00M | $246.00M |
| Retained Earnings | $1.40B | $1.38B | $-2.54B | $-4.05B | $-1.61B | $-1.06B | $1.15B | $3.59B | $6.28B | $4.71B |
| Accumulated Other Comprehensive Income Loss | $18.61B | $19.56B | $19.55B | $16.27B | $16.62B | $16.08B | $15.78B | $16.70B | $4.26B | $4.20B |
| Other Total Stockholders Equity | $276.00M | $151.00M | $102.00M | $91.00M | $75.00M | $28.00M | $-1.03B | $-443.00M | $-339.00M | $-549.00M |
| Total Stockholders Equity | $20.54B | $21.33B | $17.36B | $12.56B | $15.32B | $15.29B | $16.14B | $20.09B | $10.45B | $8.61B |
| Total Equity | $20.63B | $21.43B | $17.46B | $12.64B | $15.40B | $15.37B | $16.22B | $20.97B | $10.47B | $8.67B |
| Total Liabilities and Stockholders Equity | $44.66B | $42.94B | $40.05B | $36.28B | $39.13B | $39.53B | $41.02B | $44.90B | $20.87B | $21.06B |
| Minority Interest | $91.00M | $93.00M | $102.00M | $79.00M | $76.00M | $82.00M | $80.00M | $881.00M | $21.00M | $58.00M |
| Total Liabilities and Total Equity | $44.66B | $42.94B | $40.05B | $36.28B | $39.13B | $39.53B | $41.02B | $44.90B | $20.87B | $21.06B |
| Total Investments | $3.51B | $5.67B | $4.24B | $2.68B | $1.61B | $2.06B | $2.37B | $3.54B | $4.05B | $3.69B |
| Total Debt | $5.19B | $5.52B | $5.66B | $6.49B | $5.31B | $3.82B | $3.77B | $4.03B | $2.07B | $2.69B |
| Net Debt | $-1.05B | $52.00M | $-1.03B | $-454.00M | $-603.00M | $-2.44B | $-3.60B | $-3.47B | $-4.92B | $-2.48B |
Cash Flow Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $665.00M | $4.26B | $1.65B | $-2.42B | $11.00M | $-335.00M | $-1.46B | $-927.00M | $2.47B | $3.46B |
| Depreciation and Amortization | $1.09B | $1.14B | $1.09B | $1.13B | $1.66B | $1.46B | $1.59B | $1.59B | $320.00M | $297.00M |
| Deferred Income Tax | $825.00M | $-2.03B | $273.00M | $3.25B | $140.00M | $64.00M | $937.00M | $-429.00M | $338.00M | $-1.28B |
| Stock Based Compensation | $202.00M | $149.00M | $118.00M | $76.00M | $77.00M | $68.00M | $92.00M | $113.00M | $49.00M | $37.00M |
| Change in Working Capital | $478.00M | $-1.84B | $-268.00M | $-744.00M | $-1.79B | $-943.00M | $598.00M | $-3.06B | $-1.02B | $1.15B |
| Accounts Receivables | $304.00M | $-451.00M | $239.00M | $-418.00M | $159.00M | $246.00M | $-421.00M | $18.00M | $-693.00M | $115.00M |
| Inventory | $478.00M | $-991.00M | $-48.00M | $547.00M | $285.00M | $-544.00M | $-296.00M | $24.00M | $341.00M | $-462.00M |
| Accounts Payables | $-2.03B | $-401.00M | $-459.00M | $-845.00M | $-2.23B | $-645.00M | $1.31B | $-2.76B | $- | $- |
| Other Working Capital | $1.73B | $-401.00M | $-459.00M | $-28.00M | $-2.23B | $-645.00M | $1.31B | $-3.10B | $-664.00M | $1.50B |
| Other Non Cash Items | $-1.94B | $-201.00M | $-228.00M | $465.00M | $286.00M | $51.00M | $52.00M | $1.26B | $-1.65B | $-2.39B |
| Net Cash Provided by Operating Activities | $1.32B | $1.47B | $2.63B | $1.76B | $390.00M | $360.00M | $1.81B | $-1.46B | $507.00M | $1.27B |
| Investments in Property Plant and Equipment | $-652.00M | $-601.00M | $-560.00M | $-479.00M | $-690.00M | $-672.00M | $-601.00M | $-477.00M | $-314.00M | $-311.00M |
| Acquisitions Net | $187.00M | $-20.00M | $-33.00M | $-93.00M | $19.00M | $-49.00M | $-420.00M | $5.83B | $2.49B | $2.34B |
| Purchases of Investments | $-1.94B | $-3.71B | $-1.92B | $-1.21B | $-653.00M | $-2.25B | $-2.83B | $-4.20B | $-3.53B | $-3.05B |
| Sales Maturities of Investments | $3.42B | $2.45B | $675.00M | $245.00M | $1.14B | $2.57B | $3.80B | $5.62B | $3.27B | $1.84B |
| Other Investing Activities | $30.00M | $5.00M | $45.00M | $23.00M | $22.00M | $88.00M | $67.00M | $59.00M | $-17.00M | $71.00M |
| Net Cash Used for Investing Activities | $1.04B | $-1.88B | $-1.79B | $-1.52B | $-167.00M | $-315.00M | $9.00M | $6.84B | $1.90B | $886.00M |
| Debt Repayment | $-1.04B | $-219.00M | $-1.22B | $-480.00M | $-987.00M | $-31.00M | $-2.04B | $-2.60B | $-24.00M | $-2.75B |
| Common Stock Issued | $1.34B | $- | $- | $- | $- | $2.00M | $2.09B | $131.00M | $177.00M | $37.00M |
| Common Stock Repurchased | $-300.00M | $-300.00M | $- | $- | $- | $- | $-785.00M | $-216.00M | $-173.00M | $-427.00M |
| Dividends Paid | $-611.00M | $-353.00M | $-9.00M | $-148.00M | $-560.00M | $-1.08B | $-970.00M | $-1.51B | $-512.00M | $-1.39B |
| Other Financing Activities | $-881.00M | $35.00M | $17.00M | $1.51B | $1.08B | $143.00M | $-38.00M | $-724.00M | $-52.00M | $-45.00M |
| Net Cash Used Provided by Financing Activities | $-1.50B | $-837.00M | $-1.21B | $883.00M | $-479.00M | $-969.00M | $-1.75B | $-4.92B | $-584.00M | $-4.58B |
| Effect of Forex Changes on Cash | $-91.00M | $19.00M | $133.00M | $-95.00M | $-95.00M | $-184.00M | $-200.00M | $43.00M | $6.00M | $-48.00M |
| Net Change in Cash | $767.00M | $-1.22B | $-249.00M | $1.03B | $-351.00M | $-1.11B | $-128.00M | $502.00M | $1.82B | $-2.46B |
| Cash at End of Period | $6.23B | $5.47B | $6.69B | $6.94B | $5.91B | $6.26B | $7.37B | $7.50B | $7.00B | $5.17B |
| Cash at Beginning of Period | $5.47B | $6.69B | $6.94B | $5.91B | $6.26B | $7.37B | $7.50B | $7.00B | $5.17B | $7.63B |
| Operating Cash Flow | $1.32B | $1.47B | $2.63B | $1.76B | $390.00M | $360.00M | $1.81B | $-1.46B | $507.00M | $1.27B |
| Capital Expenditure | $-652.00M | $-601.00M | $-560.00M | $-479.00M | $-690.00M | $-672.00M | $-601.00M | $-477.00M | $-314.00M | $-311.00M |
| Free Cash Flow | $665.00M | $873.00M | $2.07B | $1.28B | $-300.00M | $-312.00M | $1.21B | $-1.93B | $193.00M | $964.00M |