Nokia Oyj (NOK) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 15.01B | 15.79B | 14.37B | 14.26B | 16.33B | 17.99B | 17.6B | 18.02B | 17.86B | 18.09B | 19.38B | 20.14B | 20.92B | 21.63B | 21.02B | 19.61B | 19.47B | 22.29B | 19.1B | 21.58B |
| Cash & Short-Term Investments | 6.12B | 6.42B | 5.67B | 6.08B | 7.22B | 8.91B | 8.76B | 9.08B | 8.4B | 8.24B | 6.67B | 7.6B | 8.38B | 9.12B | 9.54B | 9.49B | 9.51B | 10.54B | 9.66B | 10.38B |
| Cash Only | 4.95B | 5.46B | 4.89B | 4.8B | 5.54B | 6.62B | 7.04B | 6.85B | 6.56B | 6.23B | 4.88B | 5.57B | 5.24B | 5.83B | 5.2B | 5.46B | 6.34B | 7.61B | 6.9B | 8.6B |
| Short-Term Investments | 1.17B | 960.59M | 773M | 1.28B | 1.68B | 2.29B | 1.71B | 2.23B | 1.84B | 2.01B | 1.8B | 2.03B | 3.14B | 3.29B | 4.35B | 4.04B | 3.16B | 2.93B | 2.75B | 1.78B |
| Accounts Receivable | 6.51B | 6.82B | 4.88B | 5.7B | 6.53B | 6.74B | 3.88B | 4.35B | 5.28B | 6.94B | 8.67B | 8.36B | 8.33B | 8.37B | 6.55B | 5.81B | 5.98B | 7.67B | 5.79B | 7.11B |
| Days Sales Outstanding | 133.36 | 87.81 | 100.78 | 122.4 | 135.97 | 81.58 | 87.5 | 98.13 | 125.1 | 125.84 | 166.37 | 139.66 | 128.24 | 92.09 | 91.07 | 91.32 | 114.81 | 96.5 | 109.87 | 109.48 |
| Inventory | 2.38B | 2.21B | 2.38B | 2.48B | 2.58B | 2.16B | 2.53B | 2.48B | 2.69B | 2.72B | 3.48B | 3.62B | 3.58B | 3.48B | 3.43B | 2.91B | 2.64B | 2.72B | 2.48B | 2.84B |
| Days Inventory Outstanding | 82.31 | 62.61 | 82.23 | 89.37 | 83.16 | 66.27 | 98.76 | 92.89 | 110.13 | 85.92 | 117.16 | 99.62 | 86.82 | 74.66 | 78.11 | 71.85 | 75.82 | 61.68 | 76.38 | 74.11 |
| Other Current Assets | 0 | 339.86M | 1.45B | 0 | 0 | 0 | 2.44B | 2.1B | 2.66B | 0 | 550.55M | 559.68M | 621.45M | 656.36M | 343M | 282M | 273M | 382.1M | 301M | 215.83M |
| Total Non-Current Assets | 22.27B | 21.8B | 21.67B | 21.77B | 22.93B | 21.16B | 20.28B | 20.84B | 21.81B | 21.69B | 23.55B | 24.32B | 24.68B | 27.12B | 21.85B | 21.28B | 21.05B | 23.26B | 19.91B | 21.9B |
| Property, Plant & Equipment | 2.5B | 2.49B | 1.52B | 2.43B | 2.35B | 2.12B | 2.03B | 2.18B | 2.79B | 2.86B | 3.08B | 3.15B | 3.17B | 3.14B | 2.95B | 2.9B | 2.86B | 3.19B | 2.72B | 3.21B |
| Fixed Asset Turnover | 1.80x | 3.05x | 2.44x | 1.90x | 1.96x | 2.88x | 2.06x | 1.80x | 1.57x | 1.92x | 1.51x | 1.72x | 1.86x | 2.45x | 2.13x | 2.04x | 1.77x | 2.17x | 1.82x | 1.79x |
| Goodwill | 6.09B | 5.99B | 5.97B | 6.02B | 6.42B | 5.74B | 5.42B | 5.6B | 5.59B | 5.5B | 6.03B | 6.1B | 6.07B | 6.05B | 6.05B | 5.78B | 5.51B | 6.18B | 5.35B | 6.25B |
| Intangible Assets | 1.38B | 1.4B | 1.54B | 1.57B | 1.72B | 802M | 870M | 961M | 1.05B | 1.09B | 1.13B | 1.24B | 1.34B | 1.35B | 1.43B | 1.49B | 1.53B | 1.84B | 1.71B | 2.1B |
| Long-Term Investments | 1.71B | 1.9B | 390M | 1.65B | 1.71B | 1.76B | 1.6B | 1.63B | 1.93B | 1.9B | 2.41B | 2.53B | 2.61B | 2.15B | 2.13B | 1.87B | 1.86B | 1.51B | 1.27B | 1.56B |
| Other Non-Current Assets | 6.93B | 6.38B | 8.68B | 6.46B | 7.18B | 7.14B | 10.36B | 6.78B | 6.53B | 1.67B | 6.81B | 7.18B | 7.41B | 7.43B | 8.02B | 8.03B | 8.1B | 9.09B | 7.85B | 7.01B |
| Total Assets | 37.29B | 37.58B | 36.04B | 36.03B | 39.26B | 39.15B | 37.88B | 38.86B | 39.67B | 39.86B | 42.93B | 44.45B | 45.6B | 48.75B | 42.87B | 40.89B | 40.52B | 45.54B | 39.01B | 43.48B |
| Asset Turnover | 0.12x | 0.17x | 0.13x | 0.12x | 0.11x | 0.16x | 0.11x | 0.11x | 0.11x | 0.14x | 0.11x | 0.12x | 0.12x | 0.16x | 0.15x | 0.14x | 0.12x | 0.15x | 0.13x | 0.13x |
| Asset Growth % | -5.03% | -4.01% | -4.86% | -7.29% | -1.04% | -1.78% | -11.74% | -12.59% | -13% | -18.23% | 0.14% | 8.73% | 12.53% | 7.04% | 9.88% | -5.97% | 9.97% | -2.1% | 0.53% | 9.88% |
| Total Current Liabilities | 9.58B | 10B | 9.72B | 9.78B | 12B | 11.39B | 10.5B | 10.71B | 10.87B | 10.93B | 11.8B | 12.55B | 13.51B | 13.63B | 13.7B | 12.29B | 12.36B | 13.76B | 11.91B | 13.67B |
| Accounts Payable | 3.15B | 2.98B | 3.06B | 2.98B | 3.04B | 3.21B | 2.78B | 2.9B | 3.04B | 3.42B | 3.79B | 4.64B | 4.54B | 5.05B | 4.7B | 3.92B | 3.66B | 4.18B | 3.23B | 3.7B |
| Days Payables Outstanding | 109.96 | 82.4 | 102.24 | 106.27 | 109.57 | 84.63 | 112.02 | 106.86 | 131.71 | 99.85 | 139.05 | 127.08 | 117.81 | 105.14 | 106.13 | 98.31 | 111.09 | 87.91 | 99.52 | 98.85 |
| Short-Term Debt | 40M | 1.29B | 711M | 749M | 1.88B | 969M | 953M | 932M | 646M | 554M | 814.18M | 850.98M | 849.6M | 439.71M | 232M | 213M | 126M | 342.3M | 557M | 927.37M |
| Deferred Revenue (Current) | 1.73B | 1.56B | 1.59B | 1.5B | 1.59B | 1.51B | 0 | 1.85B | 2.35B | 2.16B | 2.24B | 2.09B | 2.26B | 2.11B | 6.14B | 2.17B | 2.33B | 2.61B | 2.52B | 3.02B |
| Other Current Liabilities | 4.11B | 3.83B | 3.98B | 4.15B | 5.07B | 3.21B | 6.55B | 4.65B | 4.45B | 2.05B | 4.76B | 4.76B | 5.67B | 4.06B | 2.4B | 2.04B | 1.82B | 6.4B | 1.57B | 5.84B |
| Current Ratio | 1.57x | 1.58x | 1.48x | 1.46x | 1.36x | 1.58x | 1.68x | 1.68x | 1.64x | 1.65x | 1.64x | 1.60x | 1.55x | 1.59x | 1.53x | 1.60x | 1.58x | 1.62x | 1.60x | 1.58x |
| Quick Ratio | 1.32x | 1.36x | 1.23x | 1.21x | 1.15x | 1.39x | 1.44x | 1.45x | 1.40x | 1.41x | 1.35x | 1.32x | 1.28x | 1.33x | 1.28x | 1.36x | 1.36x | 1.42x | 1.40x | 1.37x |
| Cash Conversion Cycle | 105.71 | 68.01 | 80.77 | 105.51 | 109.56 | 63.22 | 74.24 | 84.16 | 103.53 | 111.91 | 144.48 | 112.19 | 97.24 | 61.6 | 63.05 | 64.86 | 79.54 | 70.27 | 86.73 | 84.73 |
| Total Non-Current Liabilities | 6.43B | 6.53B | 6.65B | 6.44B | 6.45B | 7.01B | 6.93B | 7.13B | 7.57B | 8.3B | 8.52B | 8.69B | 8.87B | 12.25B | 9.36B | 9.57B | 10.09B | 11.92B | 10.71B | 12.81B |
| Long-Term Debt | 2.34B | 3.12B | 2.34B | 2.34B | 2.29B | 2.92B | 2.79B | 2.75B | 3.12B | 3.64B | 3.77B | 3.91B | 4.02B | 4.53B | 4.36B | 4.42B | 4.49B | 5.16B | 4.52B | 5.34B |
| Capital Lease Obligations | 752M | 796.66M | 809M | 807M | 688M | 664M | 661M | 719M | 773M | 799M | 890.41M | 915.35M | 930M | 915.7M | 882M | 919M | 877M | 937.05M | 832M | 957.02M |
| Deferred Tax Liabilities | 410M | 391.83M | 514M | 507M | 600M | 562M | 0 | 0 | 0 | 725M | 375.86M | 374.21M | 367.22M | 3.27B | 329M | 322M | 0 | 320.69M | 0 | 322.56M |
| Other Non-Current Liabilities | 2.66B | 1.93B | 2.68B | 2.56B | 2.67B | 2.68B | 3.48B | 3.67B | 3.67B | 2.93B | 3.16B | 3.35B | 3.41B | 3.4B | 3.41B | 3.42B | 4.72B | 5.1B | 5.35B | 5.62B |
| Total Liabilities | 16.01B | 16.53B | 16.37B | 16.21B | 18.44B | 18.4B | 17.43B | 17.84B | 18.44B | 19.23B | 20.32B | 21.24B | 22.38B | 25.88B | 23.07B | 21.86B | 22.44B | 25.69B | 22.62B | 26.48B |
| Total Debt | 3.33B | 5.21B | 4.07B | 4.1B | 5.07B | 4.75B | 4.61B | 4.61B | 4.76B | 5.19B | 5.48B | 5.68B | 5.8B | 5.89B | 5.69B | 5.74B | 5.69B | 6.44B | 6.11B | 7.23B |
| Net Debt | -1.63B | -251.89M | -827M | -697M | -478M | -1.87B | -2.43B | -2.25B | -1.8B | -1.05B | 600.31M | 105.83M | 559.52M | 55.5M | 497M | 281M | -654M | -1.17B | -792M | -1.37B |
| Debt / Equity | 0.16x | 0.25x | 0.21x | 0.21x | 0.24x | 0.23x | 0.23x | 0.22x | 0.22x | 0.25x | 0.24x | 0.24x | 0.25x | 0.26x | 0.29x | 0.30x | 0.31x | 0.32x | 0.37x | 0.42x |
| Debt / EBITDA | 12.22x | 7.22x | 7.74x | 11.23x | 23.45x | 6.60x | 8.90x | 6.58x | 7.14x | 6.26x | 10.86x | 7.66x | 8.39x | 5.00x | 7.07x | 6.78x | 9.06x | 6.33x | 7.88x | 9.55x |
| Net Debt / EBITDA | -5.98x | -0.35x | -1.58x | -1.91x | -2.21x | -2.60x | -4.70x | -3.21x | -2.71x | -1.26x | 1.19x | 0.14x | 0.81x | 0.05x | 0.62x | 0.33x | -1.04x | -1.15x | -1.02x | -1.82x |
| Interest Coverage | - | 112.71x | 34.14x | - | - | 3.61x | - | - | - | 17.07x | 6.41x | 8.69x | 22.47x | 31.70x | - | 31.33x | 4.92x | 89.25x | 10.04x | 7.12x |
| Total Equity | 21.27B | 21.05B | 19.67B | 19.81B | 20.82B | 20.75B | 20.45B | 21.02B | 21.23B | 20.63B | 22.61B | 23.21B | 23.22B | 22.87B | 19.8B | 19.03B | 18.08B | 19.86B | 16.39B | 17B |
| Equity Growth % | 2.18% | 1.46% | -3.82% | -5.73% | -1.95% | 0.58% | -9.52% | -9.45% | -8.57% | -9.79% | 14.18% | 22% | 28.42% | 15.15% | 20.78% | 11.9% | 31.32% | 29.37% | 7.71% | 10.99% |
| Book Value per Share | 3.72 | 3.83 | 3.58 | 3.61 | 3.87 | 3.75 | 3.70 | 3.81 | 3.82 | 3.73 | 4.04 | 4.13 | 4.11 | 4.05 | 3.49 | 3.35 | 3.17 | 3.48 | 2.88 | 3.00 |
| Total Shareholders' Equity | 21.18B | 20.96B | 19.58B | 19.72B | 20.73B | 20.66B | 20.35B | 20.92B | 21.14B | 20.54B | 22.51B | 23.11B | 23.11B | 22.77B | 19.69B | 18.91B | 17.97B | 19.74B | 16.29B | 16.9B |
| Common Stock | 246M | 245.9M | 246M | 246M | 246M | 246M | 246M | 246M | 246M | 246M | 260.45M | 268.39M | 267.27M | 262.54M | 246M | 246M | 246M | 279.75M | 246M | 291.73M |
| Retained Earnings | 1.77B | 1.86B | 1.48B | 1.61B | 1.73B | 1.96B | 1.31B | 1.3B | 1.68B | 1.4B | 1.74B | 1.82B | 1.67B | 1.47B | -1.67B | -1.98B | -2.33B | -2.89B | -3.2B | -4.2B |
| Treasury Stock | -352M | -351.85M | -352M | -352M | -1.02B | -431M | -645M | -449M | -359M | -352M | -641.6M | -561.87M | -470.43M | -375.67M | -586M | -492M | -399M | -400.29M | -352M | -417.44M |
| Accumulated OCI | 18.66B | -1.27B | 2.63B | 17.34B | 18.94B | 18.15B | 18.69B | 19.09B | 18.9B | 18.61B | 20.5B | 20.93B | 21.06B | 20.88B | 21.23B | 20.69B | 20.03B | 22.23B | 19.17B | 20.73B |
| Minority Interest | 92M | 90.96M | 91M | 92M | 89M | 90M | 100M | 94M | 95M | 91M | 91.05M | 104.74M | 108.64M | 99.25M | 112M | 111M | 110M | 115.99M | 100M | 105.55M |