Nokia Corporation vs UBIQUITI INC., two Communication Equipment stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
What is priced in runs backwards from the operating facts: Nokia at 99.7 times trailing earnings is priced for a margin recovery that has not arrived, while Ubiquiti at 33.9 times is priced as if its 36.9% operating margin and 54.9% return on assets were ordinary. Nokia's 4.5% operating margin and 3.1% return on equity measure the distance its price has already traveled ahead of its business. Both companies run debt-free, so the bet is pure income statement in both directions. Free cash favors Nokia oddly, 3.2% against 2.3%, one of the few lines it wins. The expensive-looking multiple sits on the cheap-looking business, and vice versa; the pair is a reminder that a P/E is a forecast wearing a ratio's clothes.
Comparison updated 2026-07-10.
| Metric | NOK | UI |
|---|---|---|
| Price | $13.00 | $526.55 |
| Market cap | $70.4B | $31.9B |
| Sector | Communication Equipment | Communication Equipment |
| Stage | Mature | Growth |
| Implied growth (priced in) | — | +40.3% |
| P/E | 99.7 | 33.9 |
| P/B | 3.08 | 26.53 |
| P/S | 3.26 | 10.30 |
| EV/EBITDA | 29.6 | 28.4 |
| Revenue growth | -2.4% | +34.4% |
| Gross margin | 43.5% | 47.0% |
| Operating margin | 4.5% | 36.9% |
| Net margin | 3.3% | 30.4% |
| Return on equity | 3.1% | 78.4% |
| Return on assets | 1.8% | 54.9% |
| Return on invested capital | 2.9% | 74.2% |
| FCF yield | 3.2% | 2.3% |
| Dividend yield | — | 0.5% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 1.58 | 3.56 |
| Altman Z (solvency) | 3.21 | 10.00 |
| Piotroski F (quality) | 5 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.