NOK vs. ZBRA: Nokia vs. Zebra Stock Comparison

November 11, 2026

How do Nokia (NOK) and Zebra (ZBRA) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Nokia (NOK) and Zebra (ZBRA) both fall under the Technology Hardware & Equipment industry group, but NOK is classified in Communications Equipment while ZBRA is classified in Electronic Equipment, Instruments & Components.

Zebra (ZBRA) trades as ordinary local shares, while Nokia (NOK) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Nokia (NOK) and Zebra (ZBRA)
Profile Item	NOK	ZBRA
Name	Nokia Corporation Sponsored ADR	Zebra Technologies Corp. Class A Common Stock
Country/Region	Finland	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Technology Hardware & Equipment	Technology Hardware & Equipment
GICS Industry	Communications Equipment	Electronic Equipment, Instruments & Components
GICS Sub-Industry	Communications Equipment	Electronic Equipment & Instruments
Market Capitalization	43.35 billion USD	15.16 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	July 1, 1994	August 15, 1991
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

NOK

ZBRA

GSPC

Nokia (NOK) vs. Zebra (ZBRA), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Nokia (NOK) and Zebra (ZBRA). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Nokia (NOK) and Zebra (ZBRA). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Nokia (NOK) and Zebra (ZBRA)
Metric	NOK	ZBRA
Total Return (1Y)	19.81%	26.64%
Total Return (3Y, Annualized)	36.27%	17.52%
Total Return (5Y, Annualized)	9.52%	-11.21%

Risk Profile

Drawdown History

NOK

ZBRA

GSPC

Nokia (NOK) vs. Zebra (ZBRA), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Nokia (NOK) and Zebra (ZBRA). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Nokia (NOK) is heavily traded at around 77.91M shares per day, whereas Zebra (ZBRA) sees a more moderate 596.00K — larger orders in the latter may require more patience and tighter control over order sizing.

Risk profile metrics for Nokia (NOK) and Zebra (ZBRA)
Metric	NOK	ZBRA
Volatility (1Y, Annualized)	62.40%	47.91%
Beta (5Y)	1.24	1.64
Max Drawdown (5Y)	-55.73%	-67.78%
Avg. Volume (3M)	77.91M	596.00K

Risk-Adjusted Performance

Risk-Return Positioning

NOK and ZBRA are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Nokia (NOK) and Zebra (ZBRA)
Metric	NOK	ZBRA
Sharpe Ratio (1Y)	0.25	0.47
Sortino Ratio (1Y)	0.35	0.82

Profitability

ROE (TTM)

Both Nokia (NOK) at 3.88% and Zebra (ZBRA) at 16.46% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

NOK

Technology Hardware & Equipment industry group

3.88%

Max: 42.47%
Q3: 19.13%
Median: 11.00%
NOK: 3.88%
Q1: 1.63%
Min: -20.62%

ZBRA

Technology Hardware & Equipment industry group

16.46%

Max: 42.47%
Q3: 19.13%
ZBRA: 16.46%
Median: 11.00%
Q1: 1.63%
Min: -20.62%

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their ROE against the Technology Hardware & Equipment industry group benchmark.

Net Margin (TTM)

Both Nokia (NOK) at 3.75% and Zebra (ZBRA) at 9.80% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

NOK

Technology Hardware & Equipment industry group

3.75%

Max: 27.60%
Q3: 11.66%
Median: 4.08%
NOK: 3.75%
Q1: 0.00%
Min: -11.02%

ZBRA

Technology Hardware & Equipment industry group

9.80%

Max: 27.60%
Q3: 11.66%
ZBRA: 9.80%
Median: 4.08%
Q1: 0.00%
Min: -11.02%

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their net margin against the Technology Hardware & Equipment industry group benchmark.

Operating Margin (TTM)

Both Nokia (NOK) at 10.81% and Zebra (ZBRA) at 14.75% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

NOK

Technology Hardware & Equipment industry group

10.81%

Max: 36.27%
Q3: 18.36%
NOK: 10.81%
Median: 8.84%
Q1: 1.46%
Min: -21.39%

ZBRA

Technology Hardware & Equipment industry group

14.75%

Max: 36.27%
Q3: 18.36%
ZBRA: 14.75%
Median: 8.84%
Q1: 1.46%
Min: -21.39%

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their operating margin against the Technology Hardware & Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for Nokia (NOK) and Zebra (ZBRA)
Metric	NOK	ZBRA
ROE (TTM)	3.88%	16.46%
ROA (TTM)	3.49%	7.51%
Net Margin (TTM)	3.75%	9.80%
Operating Margin (TTM)	10.81%	14.75%
Gross Margin (TTM)	45.43%	48.90%

Growth

Revenue Growth

Both Nokia (NOK) at 3.48% and Zebra (ZBRA) at 8.33% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their Revenue Growth across different time periods.

EPS Growth

Zebra (ZBRA) at -19.65% is around its peer norm for EPS growth, while Nokia (NOK) at -47.83% drops into the bottom quartile, signaling weaker earnings momentum.

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Nokia (NOK) and Zebra (ZBRA)
Metric	NOK	ZBRA
Revenue Growth (YoY)	3.48%	8.33%
Revenue Growth (3Y CAGR)	-5.76%	-2.27%
EPS Growth (YoY)	-47.83%	-19.65%
EPS Growth (3Y CAGR)	-45.71%	-2.41%

Financial Strength

Current Ratio (MRQ)

Nokia (NOK) at 1.46 keeps current ratio within its industry’s typical mid-range, while Zebra (ZBRA) at 0.57 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for ZBRA.

NOK

Technology Hardware & Equipment industry group

1.46

Max: 5.34
Q3: 3.02
Median: 1.95
NOK: 1.46
Q1: 1.32
Min: 0.17

ZBRA

Technology Hardware & Equipment industry group

0.57

Max: 5.34
Q3: 3.02
Median: 1.95
Q1: 1.32
ZBRA: 0.57
Min: 0.17

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their current ratio against the Technology Hardware & Equipment industry group benchmark.

Debt / Equity (MRQ)

Both Nokia (NOK) at 0.16 and Zebra (ZBRA) at 0.78 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

NOK

Technology Hardware & Equipment industry group

0.16

Max: 1.76
Q3: 0.78
Median: 0.24
NOK: 0.16
Q1: 0.04
Min: 0.01

ZBRA

Technology Hardware & Equipment industry group

0.78

Max: 1.76
ZBRA: 0.78
Q3: 0.78
Median: 0.24
Q1: 0.04
Min: 0.01

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their debt-to-equity ratio against the Technology Hardware & Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Nokia (NOK) and Zebra (ZBRA)
Metric	NOK	ZBRA
Current Ratio (MRQ)	1.46	0.57
Debt / Equity (MRQ)	0.16	0.78
Net Debt / EBITDA	-0.59	2.09

Dividends

Dividend Yield (TTM)

Zebra (ZBRA) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Nokia (NOK) reports a yield of 1.88%, ranking against industry peers normally.

NOK

Technology Hardware & Equipment industry group

1.88%

NOK: 1.88%
Max: 0.73%
Q3: 0.31%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ZBRA

Technology Hardware & Equipment industry group

0.00%

Max: 0.73%
Q3: 0.31%
ZBRA: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their dividend yield against the Technology Hardware & Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

Nokia (NOK) reports payout ratio above 100% at 100.17%, meaning dividends exceeded current-period earnings; Zebra (ZBRA) pays no dividend (payout 0.00%).

NOK

Technology Hardware & Equipment industry group

100.17%

NOK: 100.17%
Max: 32.27%
Q3: 14.48%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ZBRA

Technology Hardware & Equipment industry group

0.00%

Max: 32.27%
Q3: 14.48%
ZBRA: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their payout ratio against the Technology Hardware & Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for Nokia (NOK) and Zebra (ZBRA)
Metric	NOK	ZBRA
Dividend Yield (TTM)	1.88%	0.00%
Dividend Payout Ratio (TTM)	100.17%	0.00%

Valuation

P/E Ratio (TTM)

Zebra (ZBRA) at 26.03 is near its industry’s usual P/E ratio, while Nokia (NOK) at 47.88 sits in the richer quartile — NOK needs stronger growth or earnings quality to justify the premium.

NOK

Technology Hardware & Equipment industry group

47.88

Max: 69.48
NOK: 47.88
Q3: 41.02
Median: 26.39
Q1: 19.36
Min: 6.07

ZBRA

Technology Hardware & Equipment industry group

26.03

Max: 69.48
Q3: 41.02
Median: 26.39
ZBRA: 26.03
Q1: 19.36
Min: 6.07

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their P/E ratio against the Technology Hardware & Equipment industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Nokia (NOK) at 2.08 and Zebra (ZBRA) at 2.47 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

NOK

Technology Hardware & Equipment industry group

2.08

Max: 11.30
Q3: 5.82
Median: 2.56
NOK: 2.08
Q1: 1.05
Min: 0.00

ZBRA

Technology Hardware & Equipment industry group

2.47

Max: 11.30
Q3: 5.82
Median: 2.56
ZBRA: 2.47
Q1: 1.05
Min: 0.00

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their P/S ratio against the Technology Hardware & Equipment industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Nokia (NOK) at 1.82 and Zebra (ZBRA) at 4.26 are valued close to their industries’ norm against book — neither stands out from peers.

NOK

Technology Hardware & Equipment industry group

1.82

Max: 10.75
Q3: 5.52
Median: 3.17
NOK: 1.82
Q1: 1.79
Min: 0.33

ZBRA

Technology Hardware & Equipment industry group

4.26

Max: 10.75
Q3: 5.52
ZBRA: 4.26
Median: 3.17
Q1: 1.79
Min: 0.33

Nokia (NOK) vs. Zebra (ZBRA): A comparison of their P/B ratio against the Technology Hardware & Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for Nokia (NOK) and Zebra (ZBRA)
Metric	NOK	ZBRA
P/E Ratio (TTM)	47.88	26.03
P/S Ratio (TTM)	2.08	2.47
P/B Ratio (MRQ)	1.82	4.26
Free Cash Flow Yield (TTM)	2.98%	4.61%