NOK
Nokia Corp ADR
NYSE: NOK · TECHNOLOGY · COMMUNICATION EQUIPMENT
$14.80
+5.04% today
Updated 2026-06-12
Market cap
$94.07B
P/E ratio
105.31
P/S ratio
4.70x
EPS (TTM)
$0.16
Dividend yield
0.86%
52W range
$4 – $17
Volume
109.6M
Nokia Corp ADR (NOK) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed NOK price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$14.80
Today
Analyst consensus
$13.68
-7.57% · 12M
2030 Base
$12.50
-15.54% future
NPV today
$8.54
@ 9% WACC
23 analysts:
12 Buy4 Hold2 Sell
Management guidance
Nokia has raised its revenue growth outlook for networking infrastructure segment on AI-augmented networking strength. Q1 2026 earnings beat with 4.75% revenue growth guidance for FY2026 (to €20.83B from €19.89B). Management has NOT provided specific 2027-2030 targets, but emphasized strategic pivot to AI infrastructure, edge computing, and 6G positioning with major hyperscaler partnerships (Meta, Microsoft capex cycles support 8-12% annual growth through 2028).
Sources: Management guidance, analyst consensus, sector analysishigh confidence
NOK · Nokia Corp ADR · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$6.94
NPV today: $4.74
Base case (2030)
$12.50
NPV today: $8.54
Bull case (2030)
$18.06
NPV today: $12.35
WallStSmart.com
NOK financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $19.9B | $21.1B | $23.5B | $26.2B | $29.0B | $31.3B |
| Revenue growth | 3.5% | 5.9% | 11.3% | 11.6% | 10.8% | 8.1% |
| Net margin | — | 10.1% | 12.4% | 14.2% | 15.1% | 15.8% |
| EPS | $0.24 | $0.38 | $0.52 | $0.66 | $0.78 | $0.88 |
| Diluted shares | — | 5594M | 5605M | 5616M | 5627M | 5639M |
| Net debt | — | $-3.60B | $-4.49B | $-5.49B | $-6.59B | $-7.78B |
| P/S multiple | — | 2.0x | 2.0x | 2.0x | 2.0x | 2.0x |
| Implied price (base) | — | $8.18 | $9.17 | $10.30 | $11.48 | $12.50 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $31.3B | $31.3B | $31.3B |
| P/S multiple | 1.0x | 2.0x | 3.0x |
| Diluted shares | 5639M | 5639M | 5639M |
| Net debt | $-7.78B | $-7.78B | $-7.78B |
| Implied P/E † | 8x | 14x | 21x |
| 2030 Price | $6.94 | $12.50 | $18.06 |
| NPV @ 9% | $4.74 | $8.54 | $12.35 |
† Implied P/E: Multiples remain elevated across all three scenarios because NOK is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $12.50 base case
NOK catalysts and risks
Growth catalysts
+ AI Networking Innovation Lab scaling with hyperscaler deployments (Meta, Microsoft, Google capex acceleration)
+ 5G-to-6G network infrastructure transition supporting 15-20% growth in core networking through 2028
+ Agentic AI features in fixed broadband and cloud services driving higher-value mission-critical contracts
+ Increased Nokia Technologies licensing revenue from 5G/6G patent portfolios (est. 8-12% annual growth)
+ Defense sector expansion (NATO countries 5G/6G hardening spending $150B+ through 2030)
Key risks
- High valuation multiples (P/E 105x, EV/Sales 3.4x) vulnerable to sentiment reversal; retail-driven rally susceptible to profit-taking
- Competitive intensity from Ericsson (ERIC), Cisco (CSCO), and Chinese vendors (Huawei/ZTE) in 5G/6G infrastructure
- Telecom capex cycle maturation post-5G rollout; customer OPEX not scaling as fast as initial 5G surge
- Currency headwinds (EUR-denominated revenues; USD strength reduces reported USD revenue)
- Execution risk on AI/edge transition; Nokia's legacy as hardware vendor may limit enterprise cloud/AI software adoption vs. pure-play AI vendors
Methodology · Nokia Corp ADR 2030 stock forecast model
Nokia Corp ADR 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 23 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (1% cumulative for NOK by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-7.78B by 2030) |
| 3. Time value | NPV calculated using 9% WACC (CAPM: beta 0.765) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 2.0x / bull 3.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: June 8, 2026.
NOK price target FAQ
What is the NOK price target for 2030?
WallStSmart's Nokia Corp ADR 2030 base case is $12.50 per share, with a bull case of $18.06 and bear case of $6.94. The NPV of the base case discounted to today at 9% WACC is $8.54.
How is the Nokia Corp ADR 2030 stock forecast calculated?
The NOK 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the NOK price target account for dilution?
Nokia Corp ADR is projected to grow diluted share count from 5583M to 5639M by 2030 (a 1% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 1%.
What is the analyst consensus on NOK stock?
23 analysts cover NOK with an average 12-month price target of $13.68. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.