Nokia annual free cash flow
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Nokia Free Cash Flow (FCF) History (NOK)
Nokia reported €1.47B in free cash flow for fiscal 2025, a decrease of 27.51% from the previous fiscal year, with a free cash flow margin of 7.37%.
View full Nokia company overviewNokia free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | €1.47B | −€556.0M | −27.51% | +7.37% |
| 2024 | 2024-12-31 | €2.02B | €1.36B | +203.91% | +10.52% |
| 2023 | 2023-12-31 | €665.0M | −€208.0M | −23.83% | +3.15% |
| 2022 | 2022-12-31 | €873.0M | −€1.19B | −57.72% | +3.67% |
| 2021 | 2021-12-31 | €2.06B | €785.0M | +61.33% | +9.30% |
| 2020 | 2020-12-31 | €1.28B | €1.58B | — | +5.86% |
| 2019 | 2019-12-31 | −€300.0M | €12.0M | — | −1.29% |
| 2018 | 2018-12-31 | −€312.0M | −€1.52B | — | −1.38% |
| 2017 | 2017-12-31 | €1.21B | €3.14B | — | +5.23% |
| 2016 | 2016-12-31 | −€1.93B | −€2.12B | — | −8.17% |
| 2015 | 2015-12-31 | €189.0M | — | — | +1.50% |
Nokia quarterly free cash flow
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −€749.0M | −€837.0M | — | −15.56% |
| Q1 2026 | 2026-03-31 | €629.0M | — | — | +13.99% |
| Q4 2025 | 2025-12-31 | €227.0M | — | — | +3.71% |
| Q3 2025 | 2025-09-30 | €429.0M | — | — | +8.89% |
| Q2 2025 | 2025-06-30 | €88.0M | — | — | +1.98% |
Nokia free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from €1.28B to €1.47B, a compound annual growth rate of 2.74%. Nokia's latest reported quarter, Q2 2026, generated −€749.0M in free cash flow, a decrease of €837.0M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Nokia source filings ↗Community posts
Nokia and C3IA agree framework for UK defense communications work
Nokia ($NOK) Defense and C3IA signed a memorandum of understanding to collaborate on digital capabilities for UK defense operations. The partnership combines Nokia’s connectivity technology with C3IA’s systems engineering, integration and s ...
Nokia deploys automated network-attack protection for Spain’s ESpanix
ESpanix deployed Nokia’s ($NOK) Deepfield Defender to help protect its Spanish internet-exchange infrastructure against distributed denial-of-service attacks. The deployment covers facilities in Madrid and Barcelona and supports a network c ...
