Nokia, from Finland, supplies technology for mobile and fixed networks, such as 5G antennas and fiber and routing equipment, to network operators and businesses. It also earns revenue from patent licenses. Traded here as a US depositary receipt. As of Oct 16, 2026
Nokia supplies network technology to telecommunications providers, cloud customers, enterprises with mission-critical applications and the public sector, among others. In network infrastructure it offers optical transport technology, routers and fiber technology for homes. For mobile networks it supplies radio access networks (RAN) and microwave radio to network operators and to customers with mission-critical applications, including defense and government bodies. Another area sells core network software to telecommunications providers, for example for voice, packet data and subscriber data. Nokia also earns money by licensing patents to makers of mobile devices, consumer electronics and vehicles. According to the company, with the acquisition of Infinera Nokia has expanded its optical business in North America and with large cloud providers.
Automatically summarized from SEC annual report (20-F, filed Mar 5, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 19, 2026
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
No buy zone
There is currently no buy zone for this symbol under our Elliott rule. One only forms when the price pulls back after a strong rise.
An observation, not investment advice
Rule (4-hour candles) No entry in the zone history yet (recording since Oct 12, 2026). Zone historyThe zone history shows since when a buy zone has applied, when it was adjusted and when the price touched or left it. Recording began on Oct 12, 2026, only runs forward and fills nothing in – older zones are marked “known at start of recording” or “already existing when added”.Example: New buy zone on Oct 14, no adjustment since → “zone valid since Oct 14, 2026 · unchanged since”.More in the Academy: Lesson buy zone and Fibonacci
Weekly candles (1W) Already existing when added to the recording (added in the Week from Oct 12, 2026) · Setup confirmed on Jun 8, 2026 · last changed in the Week from Oct 19, 2026 Zone historyThe zone history shows since when a buy zone has applied, when it was adjusted and when the price touched or left it. Recording began on Oct 12, 2026, only runs forward and fills nothing in – older zones are marked “known at start of recording” or “already existing when added”.Example: New buy zone on Oct 14, no adjustment since → “zone valid since Oct 14, 2026 · unchanged since”.More in the Academy: Lesson buy zone and Fibonacci
Watcher Full history: every change of the buy zone with its date.
Timeframe 1 week · As of Oct 23, 2026 · display only, the rule works on 4-hour candles
Elliott count: Impulse, Impulse pattern (upward), Wave 2 in progress (3 of 3 guidelines) · W2 = 74% of W1
Comparison: Rule and Elliott count agree: wave 2 in progress.
Note: Structure ambiguous: leg W1 can also be read as three- or five-part.
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
Automated analysis (rule-based): the rule calculates waves and Fibonacci levels from the completed weekly candles; the chart is recalculated every day. Not investment advice. On this timeframe the chart only shows the rule setup (swing detection 2 × ATR) – the rule itself works on 4-hour candles. Axis and values: distance from the top of the buy zone in %, no prices. Fibonacci measured logarithmically (weekly candles).
On phones the drawing toolbar is hidden – drawing works better on a desktop.
Timeframe 1 day · As of Oct 27, 2026 · display only, the rule works on 4-hour candles
Elliott count: Flat (type known only after C), Corrective pattern (downward), C in progress (2 of 3 guidelines) · B = 103% of A; C = 213% of A
Alternative (not drawn): Combination (W-X-Y), Corrective pattern (upward), Y complete (2 of 3 guidelines)
Note: Flat type (regular, expanded, running) can only be decided once C is complete.
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed daily candles (recalculated every day). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Timeframe 4 hours · As of Oct 27, 2026
Elliott count: Flat (regular), Corrective pattern (downward), C complete (1 of 3 guidelines) · B = 94% of A; C = 291% of A
smaller wave degree Smaller wave degree: more sensitive turning-point detection, because no count fits at the usual degree – it describes shorter swings. Provisional – check the count yourself on the chart.
Note: Structure ambiguous: leg C can also be read as three- or five-part.
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed 4-hour candles (recalculated every hour). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Timeframe 1 hour · As of Oct 27, 2026 · display only, the rule works on 4-hour candles
Technical view: on this timeframe there is neither a buy zone of the rule nor an Elliott count that follows the rules. We calculate the lines automatically from the completed hourly candles (recalculated every hour) – for orientation, not a forecast, not a recommendation, not investment advice. Without a buy zone there is no value axis and no prices.
Timeframe 1 week · As of Oct 23, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario (3 of 3 guidelines, strong) · no alternative Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
As long as the weekly close stays above the start of wave 1, this applies: Upward move in five waves (Impulse), wave 2 in progress (pullback) – count then points to rising prices.
Invalid if the weekly close is below the start of wave 1 (−34.1% from the top of the zone)
If that breaks, this count no longer applies. Currently no alternative that follows the rules.
Timeframe 1 day · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario and alternative: level (2 of 3 guidelines each, medium) – the simpler or clearer pattern counts as the main scenario. Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
As long as the daily close stays below the end of B, this applies: flat countermove downward in three waves (Flat, type known only after C), C in progress – count points to falling prices.
Invalid if the daily close is above the end of B
If that breaks, the second reading no longer applies either: complex countermove upward (Combination W-X-Y), Y complete – then there is no valid count for now; the next candles will produce a new one.
Invalid if the daily close is above the end of Y
Watcher Fibonacci target zones and levels for this count – as a help for your own review – from Watcher.
Timeframe 4 hours · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario (1 of 3 guidelines, weak) · no alternative Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
smaller wave degree Smaller wave degree: more sensitive turning-point detection, because no count fits at the usual degree – it describes shorter swings. Provisional – check the count yourself on the chart.
As long as the 4-hour close stays above the end of C, this applies: flat countermove downward in three waves (Flat, regular), C complete – count points to rising prices.
Invalid if the 4-hour close is below the end of C
If that breaks, this count no longer applies. Currently no alternative that follows the rules.
Timeframe 1 hour · As of Oct 27, 2026 · from the technical view in the analysis chart
Currently no wave count that follows the rules on hourly candles – so no scenarios. Technical view: Price below the 200-period average, Trend line down, a resistance lies above the price. Not a forecast, not investment advice.
Nokia (ADR) · Sector Technology · amounts in EUR
Information only – does not affect our buy zones, not investment advice. Source: SEC filings, As of Mar 5, 2026.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
No quarterly figures reported (companies filing a 20-F annual report usually report only once a year).
No quarterly figures reported (companies filing a 20-F annual report usually report only once a year).
No quarterly figures reported (companies filing a 20-F annual report usually report only once a year).
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 19.9B EUR · Net income 651.0M EUR · Net margin 3.3%
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 97 symbols in the Technology sector on our list (current members of the S&P 500 and other lists).
−1.9% per year, last 5 years
Sector Technology: median +13.5% (88 symbols)
What does this mean? Revenue: over 5 years it fell by 1.9% per year on average. The median company in the sector reached +13.5% per year.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
– per year, last 5 years
Sector Technology: median +13.3% (62 symbols)
per share: not computable (loss in the first or last year)
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
3.3% last fiscal year
Sector Technology: median 12.5% (97 symbols)
What does this mean? Of every 100 EUR in revenue, 3.27 EUR remained as profit – less than the median company in the sector (12.5%). Five years ago the margin was −11.5%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
0.16 latest balance sheet
Sector Technology: median 0.46 (65 symbols)
What does this mean? For every 1 EUR of equity there is 0.16 EUR of financial debt – no more than the median company in the sector (0.46). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
– Dividend / earnings per share
Sector Technology: median 30% (36 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
6 of 10 fiscal years with a profit
What does this mean? In 6 of the last 10 fiscal years the bottom line showed a profit. 4 years ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 19.9B | 651.0M | 3.3% | 0.12 | – | – |
| 2024 | Dec 31, 2024 | 19.2B | 1.3B | 6.6% | 0.23 | – | – |
| 2023 | Dec 31, 2023 | 22.3B | 665.0M | 3.0% | 0.12 | – | – |
| 2022 | Dec 31, 2022 | 24.9B | 4.3B | 17.1% | 0.75 | – | – |
| 2021 | Dec 31, 2021 | 22.2B | 1.6B | 7.3% | 0.29 | – | – |
| 2020 | Dec 31, 2020 | 21.9B | −2.5B | −11.5% | −0.45 | – | – |
| 2019 | Dec 31, 2019 | 23.3B | 7.0M | 0.0% | 0.00 | 0.10 | – |
| 2018 | Dec 31, 2018 | 22.6B | −340.0M | −1.5% | −0.06 | 0.19 | – |
| 2017 | Dec 31, 2017 | 23.1B | −1.5B | −6.5% | −0.26 | 0.19 | – |
| 2016 | Dec 31, 2016 | 23.6B | −766.0M | −3.2% | −0.13 | 0.17 | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
In the last 12 months, insiders of this stock have not acquired or disposed of shares on the market (SEC Form 4).
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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