Nokian Renkaat Oyj (TYRES.HE) Stock Analysis & Winston Score

Nokian Renkaat Oyj, commonly known as Nokian Tyres, is a Finnish company that makes tires for cars, trucks, and heavy machinery. It is best known for its winter and all-season tires, which are designed to perform in cold, snowy, and icy conditions. The company sells to everyday drivers, car dealerships, and fleet operators, primarily in Northern Europe and North America. Nokian Tyres earns money by selling tires directly to consumers and through retail partners and distributors. Historically, it manufactured a large share of its tires in Russia, but following Russia's invasion of Ukraine in 2022, the company sold its Russian factory and has been rebuilding production capacity in Finland and at a newer plant in Dayton, Tennessee. This transition has weighed heavily on margins and returns, as reflected in its low ROIC of 2.8%, and the key challenge ahead is ramping up the U.S. factory efficiently while regaining lost volume and profitability.