Nokia revenue and financials
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In the fiscal year ended December 2025, Nokia reported revenue of €19.89B (+3.48% year over year). Net income was €651M, a net margin of 3.3%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +3.48%
- 2025 vs 2024
- Net income growth
- −49.02%
- 2025 vs 2024
- Net margin
- 3.3%
- 2024: 6.6%
Financial data
Amounts in millions of EUR; per-share values in EUR; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 19,889 | 19,220 | 21,138 | 23,761 | 22,202 | 21,852 | 23,315 | 22,563 | 23,147 | 23,641 |
| Cost of revenue | 11,230 | 10,356 | 12,592 | 13,660 | 13,368 | 13,659 | 15,051 | 14,251 | 14,008 | 15,117 |
| Gross profit | 8,659 | 8,864 | 8,546 | 10,101 | 8,834 | 8,193 | 8,264 | 8,312 | 9,139 | 8,524 |
| Selling, general and administrative | 3,073 | 2,872 | 2,863 | 2,956 | — | — | — | — | — | — |
| Research and development | 4,855 | 4,512 | 4,277 | 4,503 | 4,214 | 4,087 | 4,532 | 4,777 | 4,916 | 4,997 |
| Operating income | 885 | 1,970 | 1,733 | 2,299 | 2,158 | 885 | 485 | -59.0 | 16.0 | -1,100 |
| EBIT | 1,134 | 2,417 | 1,823 | 2,389 | — | — | — | — | — | — |
| EBITDA | 2,253 | 3,431 | 2,910 | 3,529 | — | — | — | — | — | — |
| Interest expense | 246 | 320 | 579 | 282 | 310 | 329 | 510 | 398 | — | — |
| Pre-tax income | 915 | 2,091 | 1,469 | 2,169 | — | — | — | — | — | — |
| Income tax | 277 | 380 | 820 | -2,033 | 272 | 3,256 | 138 | 189 | 927 | -457 |
| Net income | 651 | 1,277 | 665 | 4,250 | 1,623 | -2,523 | 7.0 | -340 | -1,494 | -766 |
| Net income to common shareholders | 651 | 1,277 | 665 | 4,250 | — | — | — | — | — | — |
| Basic EPS | 0.12 | 0.23 | 0.12 | 0.76 | 0.29 | -0.45 | 0.00 | -0.06 | -0.26 | -0.13 |
| Diluted EPS | 0.12 | 0.23 | 0.12 | 0.75 | 0.29 | -0.45 | 0.00 | -0.06 | -0.26 | -0.13 |
| Average shares (basic) | 5,416 | 5,476 | 5,549 | 5,614 | — | — | — | — | — | — |
| Average shares (diluted) | 5,503 | 5,531 | 5,586 | 5,670 | — | — | — | — | — | — |