contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    ...CompanyTagList
    id
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  availableLanguages
  pageUrl
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      defaultInstrument {
        isin
        id
      }
      id
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    id
    name
    viewerIsFollowing
    defaultInstrument {
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


nokia-cash-flow-based-valuation-not-attractive

__typename

title

isPremium

lang

htmlBody

companies

createdAt

publishers

authors

reactionGroups

availableLanguages

pageUrl

imgUrl

description

Analyst

Atte Riikola

Nokia is a global telecommunications company. The company offers solutions in IP, broadband, digital health, and cloud-based systems. The customers are found in a broad base of markets and consist of large corporate customers, authorities, and private consumers. The business is established on a global level in all regions. Nokia was founded in 1865 and the head office is located in Esbo, Finland.

Eivät ole kilpailevia teknologioita, vaan täydentävät toisiaan.

SpaceX:n Starlink hanke on julkaissut kaupallisen ‘Direct to Cell’ ratkaisun, jossa perinteisellä 4G/LTE puhelimella pääsee kiinni verkkoon ilman ylimääräisiä antenneja tai lisälaitteita. Saa nähdä, miten teknologian kehittyessä ja laukaisukustannusten alentuessa Nokia kiinteät verkot pystyvät kilpailemaan satelliittipohjaisen verkon kanssa. Sama teknologiseen disruptioon liittyvä kysymys koskee toki myös teleoperaattoreita.                   Starlink              Starlink    High-speed internet. Available almost anywhere on Earth.                                       api.starlink.com              DIRECT_TO_CELL_FIRST_TEXT_UPDATE.pdf

Lum ihan aidosti on teknisesti erittäin perehtynyt radioteknologiaan. Kaverilla on vuosikymmenien track-record alalla, joten tuo “kaikki johtuu tuulettimista” -kulman viljely on hieman outoa. Voi olla, että kaverilla on vain nörttikauna Nokiaa kohtaan? Jos katsoo historiaa, aluksi Ranskalainen Alcatel ja Jenkkiläinen Lucent tekivät mergerin jonka Nokia myöhemmin osti. Samassa rytäkässä Nokiasta tuli Jenkkejen vuosikymmenien aikana rakennettujen R’n’D instituutioiden, kuten legendaarisen Bell Labsin omistaja. Ehkä Lum vain ajattelee, että kaikki meni hyvin, kunnes “Nokia Pilasi kaiken”

Jos seuraava pitää paikkansa, on jo T-Mobilella jo ennakkotapaus Nokian korvaamisesta Ericssonilla: “Furthermore, we cite T-Mobile USA’s Project Excalibur in 2022 where it swapped out older Nokia RAN equipment and replaced them with Ericsson AIR 6449 massive MIMO radios and macro radio equipment across ~90% of Florida, 100% of Georgia, with smaller parts of South Carolina, Tennessee, and Alabama markets due to the limitations of the Nokia massive MIMO radio performance. So, a swap out has already occurred once in the very recent past.” Ja jonkinlaisena yhteenvetona: “Ultimately, we believe that T-Mobile USA has been more than tolerant for 10+ years in trying to modernize the Nokia portion of their mobile network and putting up with the FANs and if Ericsson is willing to give T-Mobile USA the RAN deal of a lifetime, why would T-Mobile USA not accept the offer? We have heard through our channel contacts that Nokia has begged and pleaded with T-Mobile USA and is willing to do whatever it takes to not lose the account. But, the reality is that T-Mobile USA has been asking Nokia for 10+ years to do the things they have asked for and Nokia has been unable to deliver, time and time again. So what else can Nokia do? We believe that Ericsson’s macro and massive MIMO radio portfolio can deliver the virtualized, cloud, and AI RAN driven solutions T-Mobile USA is looking for in the future with 5G-A.” Could Nokia be kicked out of T-Mobile USA and will lightning strike three times? Voihan olla, että kirjoittajalla on taloudellinen motiivi kirjoitukselleen, mutta se ainakin antaa kuvan, että Nokia on jatkuvasti ollut kykenemätön täyttämään T-Mobilen odotukset. Mitä se sitten jatkon osalta tarkoittaa on täyttä spekulaatiota. Ainakin Nokialla pitää olla jatkoaskeleista analyysi valmiina siihen tilanteeseen että T-Mobile syystä tai toisesta jättäisi Nokian seinäruusuksi.

Earlin mahdollinen motiivi: $  _________________________________________

5G: The next 5 years: Interview with Nokia                   Mobile World Live – 22 Nov 24              5G: The next 5 years: Interview with Nokia    During our Digital Unwrapped week, Sasha Twining interviewed Harri Holma, Senior Advisor and Bell Labs Fellow, Technology Office, Nokia on Read more...         Estimated reading time: 1 minute

Mavenir on kolmen miljardin usd valuoitu firma, ainakin öljymiesten mielestä?  Vaikka firman rahoitustilanne ei järin vahva taida olla… Ja oliskohan Mavenirin liikevaihto luokkaa 1/10 vs Nokia Mobile Networks? “Exclusive-Saudi Aramco unit in talks to invest $1 billion in US software maker Mavenir, sources say”           Investing.com              Exclusive-Saudi Aramco unit in talks to invest $1 billion in US software...    Exclusive-Saudi Aramco unit in talks to invest $1 billion in US software maker Mavenir, sources say                             https://www.lightreading.com/open-ran/mavenir-risks-default-or-restructuring-after-failure-to-crack-5g

Nokia

Overall, Nokia's Q4 results and outlook for 2024 were broadly in line with expectations. We saw no need for significant changes to our earnings forecasts at the group level, and which is why we found the share price reaction (+11%) on earnings day surprising.

<p>Overall, Nokia's Q4 results and outlook for 2024 were broadly in line with expectations. We saw no need for significant changes to our earnings forecasts at the group level, and which is why we found the share price reaction (+11%) on earnings day surprising. The valuation of the stock still looks moderate on adjusted earnings, but not particularly attractive in light of the free cash flow burdened by restructuring costs in the coming years. </p> 

	2023	24e	25e
Revenue	22,279.0	21,711.2	21,889.0
growth-%	-10.57 %	-2.55 %	0.82 %
EBIT (adj.)	2,375.0	2,490.2	2,419.6
EBIT-% (adj.)	10.66 %	11.47 %	11.05 %
EPS (adj.)	0.29	0.33	0.32
Dividend	0.13	0.14	0.16
Dividend %	4.26 %	3.49 %	3.99 %
P/E (adj.)	10.58	12.29	12.52
EV/EBITDA	5.27	7.31	7.01

Nokia: Cash flow-based valuation is not attractive

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Nokia

Key Estimate Figures25.01.

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Nokia

Key Estimate Figures25.01.

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