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Nokia Corporation (NOK)

Nokia sells network equipment, software and licensed technology, serving over 150 countries. Through 2025 it reported four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services and Nokia Technologies, with Group Common and Other alongside them. Figures are stated in euro.

Nokia Corporation

Nokia sells network equipment, software and licensed technology, serving over 150 countries. Through 2025 it reported four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services and Nokia Technologies, with Group Common and Other alongside them. Figures are stated in euro.

Network Infrastructure

This was the largest segment, with net sales of EUR 7 986 million in 2025 against EUR 6 518 million, 23% higher, of which the acquisition of Infinera at the end of February contributed EUR 1 273 million. It holds three units. Optical Networks net sales were EUR 3 019 million against EUR 1 636 million, 85% higher, on the Infinera addition and on demand from AI and cloud customers and from mission critical enterprise and defence customers, while demand from telecom providers stayed largely stable. IP Networks net sales were EUR 2 594 million against EUR 2 583 million. Fixed Networks net sales were EUR 2 373 million against EUR 2 299 million, and the filing states this business held the global number one position in xPON optical line terminals for a sixth consecutive year while developing 10G, 25G and 50G passive optical network technology. Currency movements took roughly 4% off the segment's net sales, and its margin fell 190 basis points.

Mobile Networks

This segment builds products and services supporting connectivity across all 3GPP mobile technology generations. Net sales were EUR 7 806 million in 2025 against EUR 8 158 million, 4% lower, and the margin fell 270 basis points. The filing describes the business as showing signs of stabilisation but remaining below the company's long-term expectations.

Cloud and Network Services

This segment provides software for automating and running networks. Net sales were EUR 2 606 million against EUR 2 589 million, 1% higher, and the margin rose 500 basis points.

Nokia Technologies

This segment manages the patent portfolio and licenses the intellectual property. Net sales were EUR 1 501 million against EUR 1 928 million, 22% lower, and the margin fell 790 basis points. The contracted net sales run-rate rose slightly to EUR 1.4 billion. Group Common and Other contributed net sales of EUR 17 million against EUR 34 million.

The new shape

At its Capital Markets Day in November 2025 the company set out a reorganisation into two primary operating segments, Network Infrastructure and Mobile Infrastructure, effective 1 January 2026, and moved several businesses it does not regard as core into a grouping called Portfolio Businesses to explore alternatives. Defence activities were moved into a dedicated unit for incubation, and a unified Global Sales and Customer Operations organisation was created for telecommunication providers and mission critical enterprise customers. Research and development spending was EUR 4 855 million in 2025 against EUR 4 512 million. Headcount was 75 600 at 31 December 2024, and the filing states it would have been 74 100 at 31 December 2025 had Infinera not been acquired. The proposed distribution is EUR 0.14 a share, against EUR 2.1 billion of dividends paid and EUR 1.6 billion of shares repurchased since 2023. The Submarine Networks business was classified as a discontinued operation in June 2024.

From Nokia's annual report on Form 20-F for the year ended 31 December 2025. That filing carries no Item 4 or Item 5 heading in its body, using a cross-reference index instead, so the annual report is read as one whole document rather than from separately located sections. The filing

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Nokia Corporation files a 20-F with the SEC once a year, in euros. In the year to 31 December 2025 it reported revenue of EUR 19,889 million ($22.5 billion at the year's average rate), up 3.5% on the year before. Its profit attributable to shareholders was EUR 651 million, down 49.0%, and diluted earnings per share EUR 0.12.

Nokia (NOK) in brief

Nokia (NOK) reported revenue of EUR 19.9 billion for the year to 31 December 2025, up 3.5% on the year before.
Read moreProfit attributable to shareholders was EUR 651 million and diluted earnings per share EUR 0.12. Revenue was EUR 19.2 billion in 2024, EUR 21.1 billion in 2023, EUR 23.8 billion in 2022 and EUR 22.2 billion in 2021. Profit attributable to shareholders in the same years was EUR 1.3 billion, EUR 665 million, EUR 4.2 billion and EUR 1.6 billion. Revenue fell 1.9% a year, compounded, over the five years to 2025. At the close of 10 November 2026 the market cap of Nokia was $46.0 billion, 61.6 times its earnings for 2025.

The share in the US

Last close$8.24 on 10 November 2026
52-week range$5.87 (20 November 2025) to $16.85 (2 June 2026)
Over one yearup 18.3%
Market cap$46.0 billion: 5,582,534,000 shares outstanding at 31 December 2025 (20-F), each US share standing for one ordinary share
P/E, latest fiscal year61.6: the last close over diluted EPS for the year to Dec 2025, EUR 0.12 per ordinary share, $0.13 at 1.1154 US dollars per EUR on 6 November 2026 (FRED DEXUSEU). The company reports once a year, so this is the latest fiscal year, not the last four quarters.

US dollars per share as it trades in the US; the market cap and the P/E are worked out here, not filed. Prices from IEX, for splits.

Ratios

From the latest annual report, the year to Dec 2025, in dollars

ROE3.1%
ROCE3.6%
Operating margin4.4%
Net margin3.3%
FCF marginn/a
Interest cover3.60
Debt to equity0.16
Cash conversion3.18
Share count, last 12 months-1.1%
Sales CAGR, 3 years-5.8%
Profit CAGR, 3 years-46.5%
EPS$0.13

At the close of 10 November 2026

Price$8.24
Market cap$46.0 billion
Stock P/E61.60
Price to book1.97
EV / EBITDAn/a
Dividend yield1.9%
Market cap / sales2.07
52-week high$16.85
52-week low$5.87
Price, 1 year18.3%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowings total Nokia Corporation states in its annual report, never added up from its parts; lease liabilities are a separate line. Nothing here is a valuation or a view.
NOKgreeksoup.ai
Daily prices to 10 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. This company reports once a year, so every view here moves once a year, on the day each annual report was filed, and holds until the next. P/E is the close over the year's EPS per US share: the EPS as filed, in dollars at the year's average exchange rate (Federal Reserve, from FRED). Sales and margin are each year's revenue in dollars and its operating margin. EV/EBITDA, price to book and market cap to sales set the close against that year's balance sheet in dollars at its year-end rate and its share count per US share. The dashed line is the median over the range shown. The P/E above uses today's exchange rate, so the latest point here can differ from it a little. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on NOK

DividendsEUR 0.11 a share in FY2025
Filings52 in twelve months: 50 reports on Form 6-K, most often changes in Nokia Corporation's own shares (10); managers’ transactions (9); nokia Corporation - Managers' transactions (Heard) (2); nokia delivers strong net sales and profit growth (1); nokia Corporation - Managers' transactions (Hammarén) (1)
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.29 by open interest at the 10 November 2026 close; the straddle prices a 5.5% move to 13 November 2026
13F holders795 funds reported a position for the quarter to 30 June 2026; largest Nvidia Corp.
Congress3 House trades disclosed in six months
Short interest75.2 million shares short, 1.00 days to cover at 30 October 2026

Income statement (profit and loss), 11 fiscal years

Year toDec 2015Dec 2016Dec 2017Dec 2018 †Dec 2019 †Dec 2020 †Dec 2021 †Dec 2022 †Dec 2023 †Dec 2024 †Dec 2025
Revenue12,56023,64123,14722,56323,31521,85222,20223,76121,13819,22019,889
Cost of sales6,96315,11714,00814,25115,05113,65913,36813,66012,59210,35611,230
Gross profit5,5978,5249,1398,3128,2648,1938,83410,1018,5468,8648,659
Research and development2,0804,9974,9164,7774,5324,0874,2144,5034,2774,5124,855
Selling, general and administrative1,7723,7673,6153,5493,2192,8982,7922,9562,8632,8723,073
Operating profit1,697-1,10016.0-59.04858852,1582,2991,7331,970885
Finance costsn/an/an/a398510329310282579320246
Profit before tax1,540-1,369-510-3601567431,9262,1691,4692,091915
Income tax346-4579271891383,256272-2,033820380277
Profit for the year2,468-927-1,458-33511.0-2,5161,6454,2596791,284660
Profit attributable to shareholders2,466-766-1,494-3407.0-2,5231,6234,2506651,277651
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
EUR million, from each year's annual report on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed.
Read moreA line the company does not file under the standard tag is left out rather than estimated. A year marked † shows the figure as the company restated it in a later annual report (Dec 2018, Dec 2019, Dec 2020, Dec 2021, Dec 2022, Dec 2023, Dec 2024); the first-filed figure is in the CSV. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on. Each year links to its own page.
Year toDec 2015Dec 2016Dec 2017Dec 2018 †Dec 2019 †Dec 2020 †Dec 2021 †Dec 2022 †Dec 2023 †Dec 2024 †Dec 2025
Diluted EPS0.63-0.13-0.26-0.060.00-0.450.290.750.120.230.12
Basic EPS0.67-0.13-0.26-0.060.00-0.450.290.760.120.230.12
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F

EUR per ordinary share, as filed. One US-listed share can stand for more or fewer ordinary shares; the P/E above puts the two on the same basis.

Revenue by segment

Dec 2015Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Share
of the parts, latest year
Mobile Networks5,19711,32510,3949,71110,6589,7917,7217,80039.2%
Optical Networksn/a1,7521,6951,7081,8911,9421,6363,01915.2%
Cloud and Network Servicesn/a3,3273,0863,0883,3503,2193,0212,60613.1%
IP Networksn/a2,7002,5852,6793,0632,6062,5832,59413.0%
Fixed Networks1361,8811,7592,3582,9432,3692,2992,37311.9%
Nokia Technologies1,0121,4731,3891,4901,5831,0851,9281,5017.5%
Group Common and Othern/a31725024027612433.017.00.1%
Applications and Analytics813n/an/an/an/an/an/an/an/a
Global Services4,887n/an/an/an/an/an/an/an/a
IP Routing515n/an/an/an/an/an/an/an/a
Submarine Networksn/a570697929n/an/an/an/an/a
Mobile NetworksOptical Networks FY2019 to FY2025Cloud and Network Services FY2019 to FY2025IP Networks FY2019 to FY2025Fixed NetworksNokia TechnologiesGroup Common and Other FY2019 to FY2025Submarine Networks FY2019 to FY2021Global Services FY2015Applications and Analytics FY2015IP Routing FY2015
12.6Dec 201523.3Dec 201921.9Dec 202022.2Dec 202123.8Dec 202221.1Dec 202319.2Dec 202419.9Dec 2025

EUR billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

EUR million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Revenue by region

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Share
of the parts, latest year
Americasn/an/an/an/an/an/an/an/an/an/a6,98535.1%
United States1,4986,6395,9916,2046,6456,7926,7917,9115,3285,0325,87129.5%
Rest of APACn/an/an/an/an/an/an/an/an/an/a2,19211.0%
FI1,1001,1381,6981,5561,5521,4801,6051,6971,1922,0601,6158.1%
India1,0981,2881,4551,6291,3509451,0221,2802,8321,3661,5287.7%
Greater Chinan/an/an/an/an/an/an/an/an/an/a9134.6%
Latin American/an/an/an/an/an/an/an/an/an/a7843.9%
China1,3292,2482,0821,754n/an/an/an/an/an/an/an/a
France2071,0551,2951,179n/an/a847788n/an/an/an/a
Germany312568523n/an/an/an/an/an/an/an/an/a
Great Britainn/an/an/an/an/an/a650n/a757635n/an/a
Italy355519514n/an/an/an/an/an/an/an/an/a
Japan892631759n/a977904n/an/an/an/an/an/a
Othern/an/an/an/an/an/a11,28712,08511,02910,127n/an/a
Other countries4,9958,2717,69410,24112,79111,731n/an/an/an/an/an/a
SA380566499n/an/an/an/an/an/an/an/an/a
United Kingdom394718637n/an/an/an/an/an/an/an/an/a
Americas FY2025United StatesRest of APAC FY2025FIIndiaGreater China FY2025Latin America FY2025Other FY2021 to FY2024Great Britain FY2021 to FY2024France FY2015 to FY2022Other countries FY2015 to FY2020Japan FY2015 to FY2020China FY2015 to FY2018Other
12.6Dec 201523.1Dec 201723.3Dec 201922.2Dec 202121.1Dec 202319.9Dec 2025

EUR billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

EUR million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Cash flow statement

Year toDec 2015Dec 2016Dec 2017Dec 2018 †Dec 2019 †Dec 2020 †Dec 2021 †Dec 2022 †Dec 2023 †Dec 2024 †Dec 2025
Cash from operations503-1,4541,8113603901,7592,6251,4741,3172,4932,071
Cash from investing1,8966,83610.0-315-290-1,438-1,795-1,8801,043-117-1,396
Cash from financing-580-4,923-1,749-969-479883-1,212-837-1,502-2,003-1,610
Depreciation and amortisation2861,5941,5911,4551,6601,1321,0951,0731,0129731,119
Buybacks173216785n/an/an/a0.0300300680624
Dividends paid5121,5159701,0815701499.0353621723759
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
EUR million, from the cash flow statement as filed.
Read morePurchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines. Cash from investing and from financing are the company's own section totals, below zero where cash went out. Buybacks are the cash paid for the company's own shares.

Balance sheet at year end

Year toDec 2015Dec 2016Dec 2017Dec 2018 †Dec 2019 †Dec 2020 †Dec 2021 †Dec 2022 †Dec 2023 †Dec 2024 †Dec 2025
Funded by
Equity attributable to shareholders10,52420,09416,13815,28915,32512,46517,36021,33320,53720,65720,967
Non-controlling interestsn/a88180.082.076.080.010293.091.090.091.0
Borrowings, as filedn/a4,0273,7663,8204,2775,5764,6534,4774,1913,8873,413
Lease liabilitiesn/an/an/a1,0661,030n/an/an/an/an/an/a
Other liabilitiesn/a19,89921,04019,26018,42018,07017,93417,04015,04114,51513,126
Total equity and liabilitiesn/a44,90141,02439,51739,12836,19140,04942,94339,86039,14937,597
Owned
Property, plant and equipment6951,9811,8531,7901,8561,7831,9242,0151,9511,3621,570
Goodwilln/a5,7245,2485,4525,527n/an/a5,6675,5045,7365,996
Other intangible assetsn/a5,2363,9713,3532,4291,9531,6201,2631,0868021,399
Cash and cash equivalents6,9957,4977,3696,2615,9106,9406,6915,4676,2346,6235,462
Trade and other receivablesn/a6,9726,8804,8565,0255,5035,3825,5494,9215,2484,975
Inventoriesn/a2,5062,6463,1682,9362,2422,3923,2652,7192,1632,209
Other assetsn/a14,98513,05714,63715,44517,77022,04019,71717,44517,21515,986
Total assetsn/a44,90141,02439,51739,12836,19140,04942,94339,86039,14937,597
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
EUR million, at each fiscal year end.
Read moreBoth totals are the company's own; other liabilities and other assets are each total less the rows shown. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.

Ratios on the filed lines

Year toDec 2015Dec 2016Dec 2017Dec 2018 †Dec 2019 †Dec 2020 †Dec 2021 †Dec 2022 †Dec 2023 †Dec 2024 †Dec 2025
Gross margin44.6%36.1%39.5%36.8%35.4%37.5%39.8%42.5%40.4%46.1%43.5%
Operating margin13.5%-4.7%0.1%-0.3%2.1%4.0%9.7%9.7%8.2%10.2%4.4%
Net margin19.6%-3.2%-6.5%-1.5%0.0%-11.5%7.3%17.9%3.1%6.6%3.3%
Return on year-end equity23.4%-3.8%-9.3%-2.2%0.0%-20.2%9.3%19.9%3.2%6.2%3.1%
Effective tax rate22.5%n/an/an/a88.5%438.2%14.1%-93.7%55.8%18.2%30.3%
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F

Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.

Questions

What was Nokia's revenue in 2025?

Nokia (NOK) reported revenue of EUR 19.9 billion for the year to 31 December 2025, up 3.5% on the year before.

How much did Nokia earn in 2025?

Profit attributable to shareholders was EUR 651 million for the year to 31 December 2025, and diluted earnings per share EUR 0.12.

What is Nokia's P/E ratio?

At the close of 10 November 2026, Nokia traded at 61.6 times its earnings for 2025.

What is Nokia's market cap?

The market cap of Nokia was $46.0 billion at the close of 10 November 2026.

Peers: Electronic Equipment

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TTM		Debt to equityDiv. yield
Qualcomm Inc. QCOM$185.9 billion13.6644.8%20.1%-2.6%0.502.1%
Motorola Solutions, Inc. MSI$87.3 billion42.4267.9%24.2%11.4%3.290.9%
Nokia Corporation NOK *$46.0 billion61.603.1%4.4%3.5%0.161.9%
Ubiquiti Inc. UI$41.5 billion38.7063.7%36.9%29.4%0.000.5%
Telefonaktiebolaget LM Ericsson ERIC *$35.9 billion12.3626.0%16.3%-4.5%0.302.7%
Planet Labs PBC PL$5.2 billionn/a-63.8%-27.2%44.1%0.79n/a
Ondas Inc. ONDS$3.0 billionn/a10.6%-140.4%979.3%0.00n/a
Harmonic Inc. HLIT$1.1 billionn/an/an/an/a0.09n/a
BlackSky Technology Inc. BKSY$981 millionn/a-14.0%-22.8%29.9%0.96n/a
Unusual Machines, Inc. UMAC$631 millionn/a-9.0%-76.1%425.2%0.00n/a
BK Technologies Corp. BKTI$259 million20.2226.2%17.9%15.7%0.00n/a
Aviat Networks, Inc. AVNW$204 millionn/a-0.2%3.4%-4.2%0.32n/a
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CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
NVIDIA Corp. NVDA$4.07 trillion21.3484.2%65.2%83.4%0.150.2%
Taiwan Semiconductor Manufacturing Company Limited TSM *$2.06 trillion39.8131.7%50.8%31.6%0.190.7%
Broadcom Inc. AVGO$1.59 trillion42.4138.4%48.0%48.7%0.610.8%
Advanced Micro Devices Inc. AMD$845.2 billion112.0411.1%17.7%41.9%0.10n/a
Micron Technology Inc. MU$819.8 billion9.7761.4%74.6%256.3%0.040.1%
Intel Corp. INTC$308.6 billionn/a-10.5%2.9%12.1%0.44n/a
Applied Materials Inc. AMAT$295.6 billion32.1236.2%29.6%7.8%0.260.5%
Texas Instruments Inc. TXN$274.7 billion38.9937.1%40.8%20.3%0.711.9%
Amphenol Corp. APH$197.4 billion34.7734.6%27.7%57.6%1.040.6%
Arm Holdings plc ARM *$193.0 billion213.4410.9%18.3%22.8%0.00n/a
Analog Devices Inc. ADI$190.6 billion46.6512.3%35.5%33.6%0.271.1%
Qualcomm Inc. QCOM$185.9 billion13.6644.8%20.1%-2.6%0.502.1%
Marvell Technology, Inc. MRVL$135.4 billion50.9514.2%16.5%30.6%0.270.2%
Motorola Solutions, Inc. MSI$87.3 billion42.4267.9%24.2%11.4%3.290.9%
ASE Technology Holding Co., Ltd. ASX *$78.9 billion66.6211.7%8.0%8.4%0.740.9%
Northrop Grumman Corp. NOC$78.0 billion17.3424.2%10.6%6.5%0.811.7%
Vertiv Holdings Co. VRT$74.8 billion36.3038.1%20.1%35.3%0.530.1%
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Lumentum Holdings Inc. LITE$53.0 billionn/a-143.9%23.5%103.2%0.31n/a
L3Harris Technologies, Inc. LHX$51.4 billion25.7410.1%10.7%7.3%0.541.8%
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STMicroelectronics N.V. STM *$39.7 billion248.330.9%1.5%-11.1%0.120.8%
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Astera Labs, Inc. ALAB$37.8 billion86.1023.1%25.5%115.2%0.00n/a
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Microchip Technology Inc. MCHP$32.8 billion45.7212.6%20.9%33.0%0.833.0%
Teledyne Technologies Inc. TDY$29.9 billion29.549.2%20.0%8.6%0.18n/a
Celestica Inc. CLS$28.2 billion21.1920.0%8.3%61.6%0.13n/a
Flex Ltd. FLEX$28.1 billion27.4517.9%5.1%17.5%0.90n/a
ON Semiconductor Corp. ON$27.1 billion40.479.1%12.3%2.9%0.60n/a
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Qnity Electronics, Inc. Q$25.8 billion46.467.4%n/an/a0.530.1%
Credo Technology Group Holding Ltd. CRDO$24.4 billion46.1919.7%31.7%165.1%0.00n/a
Hubbell Inc. HUBB$23.1 billion25.6722.1%20.1%16.0%1.251.3%
Cerebras Systems Inc. CBRS$22.3 billionn/an/an/an/a0.10n/a
First Solar, Inc. FSLR$19.4 billion10.4717.1%37.7%-0.7%0.01n/a
Macom Technology Solutions Holdings, Inc. MTSI$17.3 billion72.7815.6%18.1%28.4%0.22n/a
Lattice Semiconductor Corp. LSCC$15.8 billion347.913.2%9.1%63.4%0.61n/a
Nextpower Inc. NXT$15.1 billion25.1523.2%19.0%13.7%0.00n/a
Sitime Corp. SITM$13.4 billion472.590.8%0.9%142.6%0.38n/a
Fabrinet FN$12.5 billion26.2919.1%10.0%43.0%0.03n/a
Skyworks Solutions, Inc. SWKS$12.3 billion72.553.0%5.5%-3.1%0.432.6%
Semtech Corp. SMTC$10.6 billion75.1220.6%8.0%17.8%0.66n/a
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Advanced Energy Industries Inc. AEIS$8.9 billion31.8618.2%16.0%31.7%0.800.2%
Rambus Inc. RMBS$8.7 billion33.2518.8%36.3%17.3%0.00n/a
Amkor Technology, Inc. AMKR$8.5 billion13.9012.9%9.5%15.7%0.521.0%
Sanmina Corp. SANM$8.3 billion27.8011.2%4.2%58.6%0.79n/a
Viavi Solutions Inc. VIAV$7.6 billion129.315.1%10.6%47.4%0.49n/a
TTM Technologies Inc. TTMI$7.6 billion28.7713.1%11.1%37.6%0.80n/a
Silicon Laboratories Inc. SLAB$7.4 billionn/a-1.8%-2.6%21.3%0.00n/a
Formfactor Inc. FORM$6.7 billion39.1214.7%18.3%29.1%0.01n/a
Esco Technologies Inc. ESE$6.2 billion19.6419.5%14.2%24.0%0.050.1%
Cirrus Logic, Inc. CRUS$6.0 billion15.1818.9%22.5%5.1%0.00n/a
Allegro Microsystems, Inc. ALGM$5.7 billion204.803.1%7.5%27.9%0.28n/a
Plexus Corp. PLXS$5.5 billionn/an/an/an/a0.18n/a
Impinj Inc. PI$5.3 billionn/a-3.1%-0.7%7.7%0.62n/a
Planet Labs PBC PL$5.2 billionn/a-63.8%-27.2%44.1%0.79n/a
Mercury Systems Inc. MRCY$5.1 billionn/a-0.3%2.7%8.4%0.22n/a
Maxlinear, Inc. MXL$4.9 billionn/a-5.5%-0.9%56.0%0.31n/a
Synaptics Inc. SYNA$4.7 billionn/a-53.2%-4.7%8.1%0.91n/a
Applied Optoelectronics, Inc. AAOI$4.3 billionn/a-1.5%-6.8%77.2%0.10n/a
Vishay Intertechnology Inc. VSH$4.3 billion43.213.2%5.2%17.6%0.251.5%
Universal Display Corp. OLED$4.1 billion18.3313.8%34.6%-1.9%n/a2.2%
Diodes Inc. DIOD$4.0 billion34.795.9%7.3%24.2%0.21n/a
Enphase Energy, Inc. ENPH$3.7 billion41.277.3%4.2%-19.9%0.46n/a
Kulicke & Soffa Industries Inc. KLIC$3.6 billion32.1312.7%13.2%44.4%0.001.2%
OSI Systems Inc. OSIS$3.1 billion21.1120.3%12.2%2.9%1.28n/a
Ondas Inc. ONDS$3.0 billionn/a10.6%-140.4%979.3%0.00n/a
IPG Photonics Corp. IPGP$3.0 billion73.951.9%1.9%14.8%0.00n/a
Intuitive Machines, Inc. LUNR$2.7 billionn/an/a-27.5%116.5%n/an/a
Penguin Solutions, Inc. PENG$2.7 billion17.1734.7%9.6%26.5%1.51n/a
Ambarella Inc. AMBA$2.7 billionn/a-9.1%-14.9%20.0%0.00n/a
AXT Inc. AXTI$2.6 billion1,965.250.5%3.1%45.8%0.09n/a
Nlight, Inc. LASR$2.6 billionn/a-2.9%-6.0%39.6%0.00n/a
Power Integrations Inc. POWI$2.5 billion55.666.4%8.4%2.3%0.001.9%
Benchmark Electronics Inc. BHE$2.3 billion41.135.0%3.5%12.9%0.141.1%
Ultra Clean Holdings, Inc. UCTT$2.1 billion81.863.7%4.3%15.8%0.87n/a
Vicor Corp. VICR$1.9 billion42.3319.9%24.9%27.0%0.00n/a
CTS Corp. CTS$1.8 billion24.3212.6%17.0%7.4%0.090.3%
Navitas Semiconductor Corp. NVTS$1.7 billionn/a-42.9%-323.5%-28.6%0.00n/a
Photronics Inc. PLAB$1.6 billion9.9012.9%22.5%1.2%0.00n/a
Solaredge Technologies, Inc. SEDG$1.6 billionn/a-54.0%-9.2%26.1%0.79n/a
Nextnav Inc. NN$1.4 billionn/a-33.4%-1,900.4%-36.5%0.00n/a
Wolfspeed, Inc. WOLF$1.4 billionn/a-69.6%-80.3%-18.0%2.09n/a
Shoals Technologies Group, Inc. SHLS$1.4 billion35.335.9%11.2%49.2%0.26n/a
Ichor Holdings, Ltd. ICHR$1.3 billion704.800.4%1.7%15.2%0.13n/a
Napco Security Technologies, Inc. NSSC$1.1 billion25.5222.1%22.7%8.7%0.001.9%
Ambiq Micro, Inc. AMBQ$1.1 billionn/a-8.6%-36.0%n/a0.00n/a
Harmonic Inc. HLIT$1.1 billionn/an/an/an/a0.09n/a
BlackSky Technology Inc. BKSY$981 millionn/a-14.0%-22.8%29.9%0.96n/a
Arteris, Inc. AIP$947 millionn/a-63.3%-46.2%41.0%n/an/a
Alpha & Omega Semiconductor Ltd. AOSL$857 millionn/a-5.8%-7.1%-3.2%0.000.0%
Varex Imaging Corp. VREX$778 million35.484.5%8.3%5.3%0.70n/a
Array Technologies, Inc. ARRY$729 millionn/an/a-8.2%-15.9%n/an/a
Unusual Machines, Inc. UMAC$631 millionn/a-9.0%-76.1%425.2%0.00n/a
Vishay Precision Group, Inc. VPG$604 millionn/a-1.0%1.1%11.6%0.05n/a
Kopin Corp. KOPN$603 millionn/a0.7%-30.1%9.3%0.00n/a
T1 Energy Inc. TE$581 millionn/a-190.1%-22.4%427.0%2.730.0%
Lightpath Technologies Inc. LPTH$561 millionn/a-12.8%-24.9%76.5%0.00n/a
indie Semiconductor, Inc. INDI$551 millionn/a-52.5%-59.3%13.9%1.50n/a
Kimball Electronics, Inc. KE$466 million23.153.5%4.4%-1.5%0.40n/a
Methode Electronics Inc. MEI$423 millionn/a-5.5%0.4%1.4%0.471.7%
Clearfield, Inc. CLFD$410 millionn/a-2.9%-0.2%-1.4%0.00n/a
NVE Corp. NVEC$390 million21.8330.8%61.6%24.1%0.005.0%
Adtran Holdings, Inc. ADTN$358 millionn/a-20.9%0.0%10.1%2.32n/a
Everspin Technologies Inc. MRAM$308 millionn/a-3.6%-15.5%20.9%0.010.0%
Turtle Beach Corp. TBCH$298 millionn/a-0.6%3.2%-13.0%0.93n/a
M-tron Industries, Inc. MPTI$283 million23.988.0%18.5%11.8%0.00n/a
Nano Dimension Ltd. NNDM$266 millionn/a-34.4%-117.3%n/a0.04n/a
BK Technologies Corp. BKTI$259 million20.2226.2%17.9%15.7%0.00n/a
Aviat Networks, Inc. AVNW$204 millionn/a-0.2%3.4%-4.2%0.32n/a
Vuzix Corp. VUZI$165 millionn/a-145.3%-521.9%6.8%0.00n/a
Quicklogic Corp. QUIK$151 millionn/an/an/an/a0.24n/a
Espey MFG & Electronics Corp. ESP$143 million12.2018.5%25.1%4.9%0.002.1%
Aeluma, Inc. ALMU$142 millionn/a-16.1%-228.3%-4.4%0.00n/a
GCT Semiconductor Holding, Inc. GCTS$132 millionn/an/a-852.0%-32.8%n/an/a
GSI Technology Inc. GSIT$123 millionn/a-22.8%-100.8%2.9%0.00n/a
Atomera Inc. ATOM$113 millionn/a-69.6%-10,969.4%476.3%0.00n/a
Magnachip Semiconductor Corp. MX$96 millionn/a-12.3%-24.2%-12.8%0.19n/a
Kulr Technology Group, Inc. KULR$93 millionn/a-116.0%-276.0%-0.4%0.00n/a
R F Industries Ltd. RFIL$79 million32.936.3%4.6%13.0%0.15n/a
Inseego Corp. INSG$70 millionn/an/a-10.4%-3.6%n/an/a
AmpliTech Group, Inc. AMPG$64 millionn/a-17.1%-34.7%24.2%0.00n/a
Tigo Energy, Inc. TYGO$54 million4.0627.3%-3.7%15.3%0.05n/a
LGL Group Inc. LGL$43 millionn/a-0.5%-21.8%9.3%0.00n/a
12 companies share its SEC industry code (Radio & Tv Broadcasting & Communications Equipment); the rest are the names nearest in size in its wider industry, Electronic Equipment, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Annual reports on EDGAR

FormYear toFiled
20-F31 December 20255 March 2026EDGAR
20-F31 December 202413 March 2025EDGAR
20-F31 December 202329 February 2024EDGAR
20-F31 December 20222 March 2023EDGAR
20-F31 December 20213 March 2022EDGAR
20-F31 December 20204 March 2021EDGAR
20-F31 December 20195 March 2020EDGAR
20-F31 December 201821 March 2019EDGAR
20-F31 December 201722 March 2018EDGAR
20-F31 December 201623 March 2017EDGAR
20-F31 December 20151 April 2016EDGAR
20-F31 December 201419 March 2015EDGAR