NOK · NYSE · STOCK
Nokia Oyj (NOK) Stock Analysis
$9.14
52W $5.45 – $17.45
57/100
$51.69B
68.9
0.79
Is NOK Bullish or Bearish?
Bullish.
Innellis AI committee rates Nokia Oyj (NOK) Buy with a composite score of 57/100
, based on 6 analysts with 67% agreement.
Last updated October 16, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +18.15 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -1.85 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Macro Analyst sees a compelling case. Portfolio Manager remains cautious — sector concentration is already high (hhi 2739.42). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- Price-to-book of 1.5x is a discount to asset value — Value
- Dividend yield of 3.1% pays you to wait — Value
- 4 consecutive earnings beats -- consistent execution — Growth
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- Low leverage (debt-to-equity 0.21) -- balance sheet can absorb a shock — Risk
- News sentiment is positive (+0.20 across 56 articles, 14d) — News
Bear Case
- P/E of 69.6 is expensive by classic value standards — Value
- ROE of only 3.4% -- cheap may mean cheap for a reason — Value
- EPS declining -21.3% YoY despite any revenue growth — Growth
- MACD histogram negative -- bearish momentum — Technical
- Bollinger bandwidth of 16.5% signals elevated volatility — Risk
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 16, 2026
Overall Committee Score
57/100
Agreement
67%
Analysts
6
Conviction
Moderate
Sector Rank
Top 56%
of 287 Technology peers
Value Analyst
neutral
50
/ 100 · High confidence
Fair value -- neither a bargain nor obviously overpriced
+ Price-to-book of 1.5x is a discount to asset value
− P/E of 69.6 is expensive by classic value standards
Growth Analyst
neutral
56
/ 100 · High confidence
Moderate growth -- present but not remarkable
+ 4 consecutive earnings beats -- consistent execution
− EPS declining -21.3% YoY despite any revenue growth
Technical Analyst
neutral
48
/ 100 · High confidence
Mixed or range-bound price action
− MACD histogram negative -- bearish momentum
Risk Analyst
neutral
58
/ 100 · Moderate confidence
Moderate risk -- no single red flag, but nothing that clearly de-risks the position either
+ Low leverage (debt-to-equity 0.21) -- balance sheet can absorb a shock
− Bollinger bandwidth of 16.5% signals elevated volatility
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
64
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
+ News sentiment is positive (+0.20 across 56 articles, 14d)
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2739.42)
Investment Thesis Evolution
Committee score moved marginally from 57.2 to 56.9.
- New bearish signals: 3 appeared.
- Bullish support removed: 1 signal(s) disappeared.
- New bullish signals: 1 appeared.
- Bearish pressure eased: 4 signal(s) disappeared.
Analyst-level changes:
- News Analyst: +1 bullish signal(s).
- Portfolio Manager: +1 bearish signal(s).
- Risk Analyst: +1 bearish signal(s).
- Value Analyst: +1 bearish signal(s).
Comparing 2026-10-15 to 2026-10-16 (1 day apart).
Technical Analysis
RSI (14)
37.0
Neutral
MACD Histogram
-0.113
Bearish Momentum
Trend Direction
Sideways
Weekly: Uptrend
Market Structure
Hh Hl
Support
$8.37
Resistance
$11.16
Bollinger %B
0.05
Inside Bands
Price vs Moving Averages
EMA 9
$9.96
Below
EMA 21
$10.17
Below
EMA 50
$10.40
Below
EMA 200
$9.94
Below
Fundamental Analysis
Valuation
63
Growth
81
Profitability
29
Financial Health
79
Cash Flow
70
Valuation
P/E Ratio
68.9×
P/B Ratio
2.31×
PEG Ratio
-2.48
Dividend Yield
1.60%
52W High
$17.45
52W Low
$5.45
Quality & Growth
ROE
310.6%
ROA
173.2%
Gross Margin
4462.3%
Operating Margin
827.3%
Revenue Growth YoY
—
Debt / Equity
0.16
AI Fundamental Assessment
P/E ratio of 68.9 (rich relative to a 15-40x range); Price-to-book of 2.3x; PEG ratio of -2.5 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 3.1%; Return on assets of 1.7%; Net margin of 4.7%; Gross margin of 44.6%; Current ratio of 1.51 (tight short-term liquidity); Debt-to-equity of 0.16; Free cash flow per share is positive (0.10); Most recent quarter beat estimates by 26.4%; 4 consecutive earnings beats; EPS growth accelerating (-68.8% -> +40.0% QoQ); Analyst estimates falling over recent quarters
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