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Nokia vs Qualcomm: NOK and QCOM compared
Nokia is the larger company: $19.9B of revenue in its latest quarter (FY2025) against $10.3B for Qualcomm (Q4 FY26). Nokia is growing faster (+4% against -8% a year earlier). Qualcomm is more profitable, with an operating margin of 13.1% against 4.4%.
Where the money goes: NOK and QCOM
Nokia (NOK) · FY2025
Nokia, FY2025: revenue $19.9B (+4% year over year), operating margin 4.4%, net earnings $660M, operating cash flow $2.1B. The chart follows the revenue to costs, profit and cash.
Qualcomm (QCOM) · Q4 FY26
Qualcomm, Q4 FY26: revenue $10.3B (-8% year over year), operating margin 13.1%, net earnings $1.3B, operating cash flow $2.7B. The chart follows the revenue to costs, profit and cash.
| Nokia (NOK) | Qualcomm (QCOM) | |
|---|---|---|
| Latest quarter | FY2025 | Q4 FY26 |
| Revenue | $19.9B | $10.3B |
| Revenue growth, Y/Y | +4% | -8% |
| Gross margin | 43.5% | — |
| Operating margin | 4.4% | 13.1% |
| Net earnings | $660M | $1.3B |
| Net margin | 3.3% | 12.1% |
| Operating cash flow | $2.1B | $2.7B |
| Free cash flow | — | $1.8B |
| Market value | $44.0B | $168.2B |
| P/E | 68.9× | 12.3× |
| Analysts’ mean target | $14.52 | $185.79 |
Questions
Which is bigger, Nokia or Qualcomm?
Nokia is the larger company: $19.9B of revenue in its latest quarter (FY2025) against $10.3B for Qualcomm (Q4 FY26).
Is Nokia or Qualcomm growing faster?
Nokia is growing faster (+4% against -8% a year earlier).
Which is more profitable, Nokia or Qualcomm?
Qualcomm is more profitable, with an operating margin of 13.1% against 4.4%.
More: Nokia earnings · how Nokia makes money · Qualcomm earnings · how Qualcomm makes money
From the companies' latest 10-Q, 10-K or earnings release (20-F filed Mar 5, 2026; 10-K filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.