Nokia (ADR) (NOK)
Builds fixed, IP, optical, radio, and core networks while licensing communications standards.
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Builds network infrastructure for telecommunications, cloud, AI, and mission-critical customers across fixed, IP, optical, radio, and core systems. Revenue depends on customer network spending, equipment and software execution, and standards-based patent licensing.
Builds network infrastructure through two primary segments. Network Infrastructure covers Optical Networks, IP Networks, and Fixed Networks, while Mobile Infrastructure combines Core Software, Radio Networks, and Technology Standards.
Headquartered in Finland, the portfolio serves telecommunications, cloud, AI infrastructure, and mission-critical networking customers. Bell Labs research supports work in network fundamentals, automation, semiconductors, devices, AI, and software systems, while the Infinera acquisition expands the optical perimeter.
Results depend on carrier, cloud-provider, and enterprise network spending, execution of the simplified operating model, and integration of Infinera. Technology Standards monetizes mobile-communications intellectual property through patent licensing, and the remaining Portfolio Businesses sit outside the two primary segments. The group also retains a transitional stake in Alcatel Submarine Networks pending the French State's planned purchase.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 1, 2026 | Danske Bank | Upgrade | ||
| Jun 3, 2026 | Northland Securities | Target | Target: $13 | Target: $20 |
| Apr 27, 2026 | Argus Research | Upgrade | Target: — | Target: $15 |
| Apr 20, 2026 | Northland Securities | Target | Target: $8.50 | Target: $13 |
| Nov 20, 2025 | New Street | Target | Target: — | Target: $6.57 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $5.87B · Total debt $3.84B · Total assets $42.65B · Shareholders' equity $24.25B
- Revenue
- $5.51B
- Operating income
- −$57.2M
- Net income
- $2.3M
Reported in EUR, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | ≈ 17.37% | 938.07M ADS | |
|---|---|---|---|
| 873 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Other | ≈ 82.63% | 4.46B ADS | |
| remainder | |||
5.40B ADS as of Sep 13, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Some positions are filed in underlying shares, not receipts; the ratio is unknown, so no percentage.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Nvidia CorpInstitution | 3.08% | 166.39M ADS | as of Jun 30, 2026 |
FMR LLCInstitution | 2.88% | 155.40M ADS | as of Jun 30, 2026 |
Arrowstreet Capital, Limited PartnershipInstitution | 0.71% | 38.17M ADS | as of Jun 30, 2026 |
Alkeon Capital Management LLCInstitution | 0.67% | 36.00M ADS | as of Jun 30, 2026 |
Morgan StanleyInstitution | 0.61% | 33.21M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
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- Ciena
Specialist rival in coherent optical transport and metro routing
- ADTRAN
Narrower rival in fiber access, aggregation, and metro optical transport
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Nokia (ADR) | $10.54 | −3.70% | $59.11B | 77.4 | 25.0 | 2.5 | +2.3% |
| Ericsson (ADR) | $9.79 | −4.51% | $33.66B | 13.6 | 20.0 | 1.4 | −5.4% |
| Cisco Systems | $104.64 | −6.12% | $439.31B | 33.5 | 20.4 | 6.9 | +17.6% |
| Ciena | $371.22 | +1.44% | $51.80B | 81.7 | 35.8 | 8.6 | +37.0% |
| ADTRAN | $7.15 | −0.77% | $584.0M | — | 20.1 | 0.5 | +6.1% |
| Median | 33.5 | 20.3 | 4.2 | +11.8% |