NOK P/E ratio: current value, 10-year range and year-by-year history
Cash & Leverage
NOK's p/e ratio is higher than 95% of the last 10 years.
P/E ratio History
NOK P/E ratio by year
Yearly range of NOK’s p/e ratio from 2016 to 2026. Over the full period it ranged from -94.9 to 10,140.4, averaging 210.8.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 45.0 | 67.9 | 101.2 | 67.8 |
| 2025 | 18.5 | 41.0 | 86.4 | 47.2 |
| 2024 | 18.6 | 25.2 | 31.0 | 18.6 |
| 2023 | 4.1 | 5.1 | 6.2 | 4.5 |
| 2022 | 13.6 | 16.2 | 19.4 | 13.9 |
| 2021 | -19.1 | -12.9 | 19.0 | 19.0 |
| 2020 | -7.4 | 2,067.7 | 10,140.4 | -7.4 |
| 2019 | -94.9 | -25.8 | 8,264.8 | 8,264.8 |
| 2018 | -83.4 | -24.6 | -15.5 | -83.4 |
| 2017 | -75.5 | -50.9 | -31.7 | -47.0 |
| 2016 | 16.2 | 18.4 | 22.8 | 18.9 |
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How much the market pays for each dollar of annual profit. P/E = Stock Price / EPS. The raw number means little — what matters is whether it's high or low relative to the company's own history.
Price / Earnings Per ShareThe chart shows five color-coded historical zones: green (below 10th percentile) means historically very cheap, fading through lime and gray (the normal 25th–75th range) to orange and red (historically expensive). When the line sits in a green or lime zone, the stock is trading at an unusually low P/E relative to its own history.
- Cyclical businesses look cheapest on P/E at peak earnings — the "earnings trap." Use EV/EBITDA or normalised earnings for energy, materials, and financials.
- A falling P/E trend may signal a business in structural decline, not a buying opportunity.
Is NOK P/E ratio High or Low Right Now?
Nokia Oyj's P/E ratio is currently 67.8, which is near historic high relative to its 10-year historical range. The 10-year median P/E ratio for NOK is approximately 10.7. See all NOK valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.