Nokia (NOK) Cost of Revenue (2009 - 2026)
Nokia (NOK) recorded Cost of Revenue of $3.02 billion in the quarter ended Jun 30, 2026, up 9.8% from $2.75 billion a year earlier and up 7.6% from the prior quarter.
Powered by 
Analysis
Nokia (NOK) Cost of Revenue (2009 - 2026) Analysis & Trends
On a TTM basis, Nokia's Cost of Revenue came in at $12.48 billion as of Jun 30, 2026, down 15.0% year-over-year; for the year ended Dec 31, 2025, it came in at $12.69 billion, up 13.2% from the prior year.
- Annual Cost of Revenue has a five-year compound annual growth rate of -4.0% (years ended Dec 2020 to Dec 2025).
- Across earlier years, Cost of Revenue came in at $11.21 billion in the year ended Dec 31, 2024 (-17.7%), $13.62 billion in the year ended Dec 31, 2023 (-5.4%), $14.4 billion in the year ended Dec 31, 2022 (-9.0%) and $15.82 billion in the year ended Dec 31, 2021 (+1.4%).
- Quarterly Cost of Revenue has ranged from $2.59 billion in the quarter ended Mar 31, 2025 to $5.38 billion in the quarter ended Dec 31, 2024 over the past five years.
- On a year-over-year basis, Cost of Revenue rose in five of the last eight quarters, with growth averaging 2.3%.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 62.8% in the quarter ended Dec 31, 2024, against a decline of 36.6% in the quarter ended Mar 31, 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $2.81 billion (quarter ended Mar 31, 2026), $3.62 billion (quarter ended Dec 31, 2025) and $3.03 billion (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Citigroup | 202.42 Bn | -2,097.46 Bn | 24.75 Bn | 17.00 Mn |
| 2 | Bhp | 197.82 Bn | 141.00 Bn | - | - |
| 3 | Bank Of Nova Scotia | 114.82 Bn | -316.58 Bn | - | - |
| 4 | Nokia | 46.63 Bn | 46.63 Bn | 2.58 Bn | 3.02 Bn |
| 5 | Haleon | 45.97 Bn | 39.68 Bn | - | - |
| 6 | Gold Fields | 30.93 Bn | 27.86 Bn | - | - |
| 7 | Smith & Nephew | 27.06 Bn | 24.45 Bn | - | - |
| 8 | Sprott Physical Gold Trust | 14.36 Bn | 14.22 Bn | - | - |
| 9 | Magnum Ice Cream | 11.66 Bn | 10.35 Bn | - | - |
| 10 | Sprott Physical Silver Trust | 10.66 Bn | 10.33 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.02 Bn |
| Mar 31, 2026 | 2.81 Bn |
| Dec 31, 2025 | 3.62 Bn |
| Sep 30, 2025 | 3.03 Bn |
| Jun 30, 2025 | 2.75 Bn |
| Mar 31, 2025 | 2.59 Bn |
| Dec 31, 2024 | 5.38 Bn |
| Sep 30, 2024 | 3.97 Bn |
| Jun 30, 2024 | 2.72 Bn |
| Mar 31, 2024 | 4.08 Bn |
| Dec 31, 2023 | 3.30 Bn |
| Sep 30, 2023 | 3.07 Bn |
| Jun 30, 2023 | 3.72 Bn |
| Mar 31, 2023 | 3.66 Bn |
| Dec 31, 2020 | 7.36 Bn |
| Sep 30, 2020 | 5.80 Bn |
| Jun 30, 2020 | 3.40 Bn |
| Mar 31, 2020 | 3.46 Bn |
| Dec 31, 2019 | 4.64 Bn |
| Sep 30, 2019 | 4.14 Bn |
API Access
Nokia Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NOK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "NOK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NOK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();