Nokia Number One in Comm Equipment Revenue & Market Cap
Don't blink. It might not last long. <g>
I. Market Cap
Nokia has been #2 to Cisco in Market Cap amongst Communications Equipment Manufacturers for quite some time but historically there has been a wide gap between the two.
On July 24, 2001 CSCO had a Market Cap of $133.8 Bil compared to NOK's $89.3 Bil.
On August 7, 2002 CSCO had a Market Cap of $95.0 Bil compared to NOK's $53.5 Bil.
At closing today:
Nokia Market Cap. $80.62 Bil (USD)
Cisco Market Cap $79.49 Bil (USD)
I first noticed this at closing on Friday October 18 when NOK closed with a market cap of $77.9 Bil compared to CSCO's $76.6 B. The following Monday CSCO had the lead back $79.78 B to Nokia's $79.27. Since that time Nokia and Cisco have seesawed back and forth.
I can't say I'm really overjoyed about this because I hold more shares of CSCO than I do NOK so .... Go Cisco!
II. Revenue
Less than two years ago at the end of 2000 Nokia was the 6th largest communications equipment manufacturer (TTM Revenue) trailing Motorola, Lucent, Nortel, Alcatel, and Ericsson. Earlier this year Nokia passed Motorola to become the largest communications equipment manufacturer (TTM Revenue).
Communications Equipment Manufacturers ranked by Market Cap:
REV
TTM TTM Market Net TTM RNK
MC Rank Revenue Cap 000 Margin P/E Q3-02
1. Nokia $29,457 $80,620 9.5% 32.1x 1
2. Cisco $18,915 $79,490 10.0% 51.3x 4
3. QUALCOMM $2,817 $26,180 4.4% 259.2x 14
4. Motorola $26,576 $21,110 (19.6)% NM 2
5. Alcatel $20,723 $6.385 (19.8)% NM 3
6. Ericsson $18,116 $6,372 (11.6)% NM 5
III. Historical
Through Q2 as not all Q3 Earnings reported.
Actual Actual 2002 TTM TTM
2000 2001 mid-year Revenue
Revenue Revenue Revenue Rank
1. Motorola $37,580 $30,004 $27,597 2
2. Lucent $33,813 $21,294 $15,199 6
3. Nortel $30,275 $17,511 $12,835 7
5. Alcatel $29,580 $22,597 $20,723 3
2. Ericsson $29,026 $22,117 $22,283 4
6. Nokia* $28,517 $27,801 $29,044 1
7. Cisco $18,928 $22,293 $18,915 5
8. Corning $7,273 $6,272 $4,277 9
9. JDS Uni $1,430 $3,233 $1,098 20
X. QUALCOMM** $3,197 $2,680 $2,817 12
Although the table above does not indicate (due to exchange rate) it Nokia was the only company to grow top line in 2001.
* For the 2001 financial year, Nokia's net sales totaled EUR 31.2 billion (USD 27.77 billion). For the 2000 financial year, Nokia's net sales totaled EUR 30,376 billion (USD 28,517). This is a good example of one of the idiosyncrasies of holding a European company that trades in the US in ADR's.
** In 2000 Qualcomm revenue from mobile phones is included for 1 quarter. Qualcomm revenue peaked in 1999 at $3,937,000 but in that year they had two quarters of revenue from infrastructure spun to Ericsson and 4 quarters of revenue from mobile phones which was spun to Kyocera in the following year.
It should also be noted that Lucent, Nortel, Ericsson et al have spun off some divisions.
- Eric - |
