NASDAQ : NBIS
Nebius Group N.V. — Financial statements
Communication Services · Internet Content & Information · Netherlands
Last price 154.14 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 42.25B
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Financial statements
Nebius Group N.V. (NBIS) reported revenue of 1.36B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.36B | 529.80M | 91.50M | 9.80M | 13.50M | 4.75B |
| Cost of Revenue | 348.80M | 166.20M | 43.70M | 19.60M | 28.40M | 2.32B |
| Gross Profit | 1.01B | 363.60M | 47.80M | -9.80M | -14.90M | 2.43B |
| Selling, General & Admin | 507.80M | 380.10M | 255.50M | 159.50M | 57.30M | 1.64B |
| Research & Development | 240.50M | 177.30M | 114.80M | 87.10M | 58.30M | 645.80M |
| Operating Expenses | 1.51B | 975.30M | 447.40M | 275.90M | 143.10M | 2.61B |
| Operating Income | -507.30M | -611.70M | -399.60M | -285.70M | -158.00M | -176.93M |
| Interest Expense | -239.50M | -61.50M | -49.45M | |||
| Interest & Investment Income | 58.00M | 31.80M | 63.60M | 3.30M | 1.00M | 61.50M |
| Earnings From Equity Investments | -13.00M | -24.30M | 400.00K | -10.90M | -14.00M | 84.85M |
| Currency Exchange Gain (Loss) | 39.20M | 27.20M | -17.80M | -2.40M | 1.40M | 3.13M |
| Other Non Operating Income (Expenses) | -2.10M | -1.80M | -400.00K | -1.30M | -1.60M | -19.35M |
| EBT Excluding Unusual Items | -664.70M | -640.30M | -353.80M | -297.00M | -171.20M | -96.26M |
| Merger & Restructuring Charges | -176.80M | |||||
| Gain (Loss) on Sale of Investments | 894.10M | 654.10M | 800.00K | -7.70M | ||
| Pretax Income | 52.60M | 13.80M | -353.00M | -297.00M | -178.90M | -96.26M |
| Income Tax Expense | 10.20M | 4.00M | -1.00M | 2.00M | 1.10M | 99.01M |
| Earnings From Continuing Operations | 42.40M | 9.80M | -352.00M | -299.00M | -180.00M | -195.27M |
| Earnings From Discontinued Operations | 72.70M | -289.40M | 540.30M | 925.60M | ||
| Net Income to Company | 42.40M | 82.50M | -641.40M | 241.30M | 745.60M | -195.27M |
| Minority Interest in Earnings | -213.22K | |||||
| Net Income | 42.40M | 82.50M | -641.40M | 241.30M | 745.60M | -195.48M |
| Net Income to Common | 42.40M | 82.50M | -641.40M | 241.30M | 745.60M | -195.48M |
| Shares Outstanding (Basic) | 258.12M | 242.53M | 281.01M | 370.84M | 368.02M | 362.39M |
| Shares Outstanding (Diluted) | 276.86M | 247.68M | 281.01M | 370.84M | 368.02M | 362.39M |
| EPS (Basic) | 0.16 | 0.34 | -2.28 | 0.65 | 2.03 | -0.54 |
| EPS (Diluted) | 0.16 | 0.33 | -2.28 | 0.65 | 2.03 | -0.54 |
| Free Cash Flow | -5.88B | -3.68B | -561.90M | 746.90M | 682.40M | -470.79M |
| Free Cash Flow Per Share | -21.25 | -14.86 | -2.00 | 2.01 | 1.85 | -1.30 |
| Gross Margin | 74.26% | 68.63% | 52.24% | -100.00% | -110.37% | 51.16% |
| Operating Margin | -37.44% | -115.46% | -436.72% | -2,915.31% | -1,170.37% | -3.73% |
| Profit Margin | 3.13% | 15.57% | -700.98% | 2,462.24% | 5,522.96% | -4.12% |
| Free Cash Flow Margin | -434.20% | -694.83% | -614.10% | 7,621.43% | 5,054.81% | -9.92% |
| EBITDA | 258.00M | -193.80M | -322.50M | -256.40M | -130.50M | 109.58M |
| EBITDA Margin | 19.04% | -36.58% | 2.31% | |||
| D&A For EBITDA | 765.30M | 417.90M | 77.10M | 29.30M | 27.50M | 286.51M |
| EBIT | -507.30M | -611.70M | -399.60M | -285.70M | -158.00M | -176.93M |
| EBIT Margin | -37.44% | -115.46% | -3.73% | |||
| Effective Tax Rate | 19.39% | 28.98% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 8.04B | 3.68B | 2.43B | 116.10M | 1.14B | 1.06B |
| Short-Term Investments | 75.00M | 5.10M | 4.68M | 372.01M | ||
| Cash & Short-Term Investments | 8.04B | 3.75B | 2.43B | 121.20M | 1.15B | 1.43B |
| Accounts Receivable | 288.60M | 720.30M | 11.20M | 4.10M | 900.94M | 592.92M |
| Other Receivables | 270.60M | 133.40M | 29.30M | 6.70M | 527.97M | 277.79M |
| Receivables | 559.20M | 853.70M | 40.50M | 11.50M | 1.46B | 900.32M |
| Inventory | 387.20M | 127.76M | ||||
| Prepaid Expenses | 151.60M | 64.80M | 24.00M | 17.00M | 232.81M | 171.44M |
| Restricted Cash | 830.30M | 6.80M | 600.00K | 2.30M | 8.82M | 13.33K |
| Other Current Assets | 32.40M | 33.00M | 33.50M | 3.30B | 57.16M | 36.93M |
| Total Current Assets | 9.62B | 4.71B | 2.53B | 3.45B | 3.29B | 2.66B |
| Property, Plant & Equipment | 14.90B | 6.47B | 891.50M | 146.90M | 2.15B | 1.79B |
| Long-Term Investments | 1.62B | 847.70M | 97.10M | 102.00M | 121.62M | 136.13M |
| Goodwill | 605.60M | 1.97B | 1.57B | |||
| Other Intangible Assets | 83.90M | 19.70M | 4.90M | 4.20M | 435.85M | 297.96M |
| Long-Term Accounts Receivable | 31.16M | 11.65M | ||||
| Long-Term Deferred Tax Assets | 11.40M | 11.80M | 7.70M | 5.90M | 53.57M | 74.96M |
| Other Long-Term Assets | 992.10M | 367.90M | 14.10M | 5.04B | 320.06M | 246.26M |
| Total Assets | 27.96B | 12.43B | 3.55B | 8.76B | 8.46B | 6.87B |
| Accounts Payable | 973.30M | 1.06B | 25.00M | 996.60M | 731.00M | |
| Accrued Expenses | 101.40M | 22.20M | 197.60M | 26.40M | 503.51M | 280.08M |
| Short-Term Debt | 284.05M | 80.62M | ||||
| Current Portion of Long-Term Debt | 71.00M | 24.50M | 6.10M | 6.80M | 292.33M | |
| Current Portion of Leases | 114.90M | 84.90M | 13.10M | 9.70M | 188.67M | 159.81M |
| Current Income Taxes Payable | 10.00M | 17.70M | 5.50M | 2.80M | 39.30M | 16.00M |
| Current Unearned Revenue | 1.07B | 300.10M | 33.60M | 6.90M | 213.84M | 138.79M |
| Other Current Liabilities | 47.70M | 20.70M | 8.10M | 3.79B | 59.05M | 74.32M |
| Total Current Liabilities | 2.39B | 1.53B | 264.00M | 3.87B | 2.58B | 1.48B |
| Long-Term Debt | 8.50B | 4.10B | 410.04M | 1.14B | ||
| Long-Term Leases | 1.51B | 760.50M | 30.30M | 9.70M | 532.28M | 532.94M |
| Long-Term Unearned Revenue | 5.00B | 1.30B | ||||
| Long-Term Deferred Tax Liabilities | 75.09M | 39.83M | ||||
| Other Long-Term Liabilities | 229.70M | 143.10M | 600.00K | 1.58B | 227.01M | 35.30M |
| Total Liabilities | 17.62B | 7.84B | 294.90M | 5.46B | 3.82B | 3.23B |
| Common Stock | 8.40M | 8.40M | 9.20M | 9.20M | 3.87M | 3.74M |
| Additional Paid-In Capital | 7.39B | 2.36B | 2.02B | 1.81B | 1.64B | 1.51B |
| Retained Earnings | 3.73B | 3.30B | 3.22B | 3.86B | 2.38B | 1.75B |
| Treasury Stock | -782.10M | -1.08B | -1.97B | -19.60M | -19.11M | -36.35M |
| Comprehensive Income & Other | -12.90M | -100.00K | -22.10M | -2.37B | 332.84M | 215.79M |
| Total Common Equity | 10.34B | 4.59B | 3.25B | 3.29B | 4.34B | 3.44B |
| Minority Interest | 1.00M | 200.00K | 300.07M | 196.55M | ||
| Shareholders' Equity | 10.34B | 4.59B | 3.25B | 3.29B | 4.64B | 3.64B |
| Total Liabilities & Equity | 27.96B | 12.43B | 3.55B | 8.76B | 8.46B | 6.87B |
| Total Debt | 10.20B | 4.97B | 49.50M | 26.20M | 1.71B | 1.92B |
| Net Cash (Debt) | -2.15B | -1.22B | 2.39B | 95.00M | -562.08M | -488.78M |
| Net Cash Per Share | -7.78 | -4.93 | 8.49 | 0.26 | -1.53 | -1.35 |
| Filing Date Shares Outstanding | 274.10M | 256.04M | 235.75M | 361.48M | 361.48M | 358.70M |
| Total Common Shares Outstanding | 274.10M | 255.16M | 235.75M | 361.48M | 361.48M | 358.70M |
| Working Capital | 7.23B | 3.18B | 2.27B | -416.90M | 714.71M | 1.18B |
| Book Value Per Share | 37.72 | 18.00 | 13.80 | 9.11 | 12.01 | 9.59 |
| Tangible Book Value | 9.65B | 4.57B | 3.25B | 3.29B | 1.93B | 1.57B |
| Tangible Book Value Per Share | 35.21 | 17.93 | 13.78 | 9.10 | 5.34 | 4.38 |
| Land | 593.40M | 381.40M | 48.50M | 50.30M | 262.01M | 251.77M |
| Machinery | 5.39B | 3.19B | 807.60M | 317.70M | 301.66M | 1.43B |
| Leasehold Improvements | 61.84M | 43.76M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 42.40M | 82.50M | -641.40M | 241.30M | 745.60M | -195.48M |
| Depreciation & Amortization | 863.80M | 468.50M | 85.80M | 36.40M | 29.50M | 436.07M |
| Other Amortization | 60.70M | 21.20M | 147.48M | |||
| Loss (Gain) From Sale of Investments | -782.10M | -598.90M | ||||
| Loss (Gain) on Equity Investments | 13.00M | 24.30M | -400.00K | 10.90M | 14.00M | -84.85M |
| Stock-Based Compensation | 188.90M | 83.20M | 54.50M | 28.80M | 9.60M | 277.57M |
| Provision & Write-off of Bad Debts | 9.40M | 5.50M | 200.00K | -200.00K | 1.10M | 16.64M |
| Other Operating Activities | 20.30M | -47.80M | 303.80M | -538.30M | -929.50M | -77.83M |
| Change in Accounts Receivable | -242.20M | -714.60M | -9.80M | 2.30M | -2.70M | -256.66M |
| Change in Inventory | -63.38M | |||||
| Change in Accounts Payable | -20.70M | -29.00M | -28.00M | 1.50M | 13.00M | 301.72M |
| Change in Unearned Revenue | 5.96B | 1.57B | 10.00M | 1.90M | 800.00K | 50.72M |
| Change in Other Net Operating Assets | -853.30M | -458.80M | -44.60M | -6.60M | -21.10M | -428.17M |
| Operating Cash Flow | 5.26B | 384.80M | 245.60M | 829.80M | 697.00M | 123.84M |
| Capital Expenditures | -11.14B | -4.07B | -807.50M | -82.90M | -14.60M | -594.63M |
| Sale of Property, Plant & Equipment | 5.20M | 1.60M | 2.00M | |||
| Cash Acquisitions | -251.60M | -109.75M | ||||
| Divestitures | 1.47B | |||||
| Investment in Securities | -167.70M | 10.00M | -10.00M | 1.02B | ||
| Other Investing Activities | 16.40M | 4.40M | -359.90M | -1.12B | -390.50M | -28.68M |
| Investing Cash Flow | -11.37B | -4.23B | 311.60M | -1.21B | -403.10M | 293.10M |
| Short-Term Debt Issued | 39.19M | |||||
| Long-Term Debt Issued | 4.16B | |||||
| Total Debt Issued | 7.50B | 4.16B | 39.19M | |||
| Short-Term Debt Repaid | -5.29M | |||||
| Long-Term Debt Repaid | -800.00K | -700.00K | -9.82M | |||
| Total Debt Repaid | -800.00K | -800.00K | -700.00K | -15.11M | ||
| Net Debt Issued (Repaid) | 7.50B | 4.16B | -700.00K | 24.08M | ||
| Issuance of Common Stock | 4.16B | 1.26B | 700.00M | 15.37M | ||
| Repurchase of Common Stock | -92.83M | |||||
| Other Financing Activities | 1.81B | -294.60M | 126.20M | 375.60M | -100.30M | -1.08B |
| Financing Cash Flow | 13.47B | 5.13B | 825.50M | 375.60M | -100.30M | -1.13B |
| Foreign Exchange Rate Adjustments | -9.30M | -9.70M | -23.60M | -102.60M | -61.80M | 6.81M |
| Net Cash Flow | 7.34B | 1.27B | 1.36B | -109.30M | 131.80M | -706.92M |
| Free Cash Flow | -5.88B | -3.68B | -561.90M | 746.90M | 682.40M | -470.79M |
| Free Cash Flow Margin | -434.20% | -694.83% | -614.10% | 7,621.43% | 5,054.81% | -9.92% |
| Free Cash Flow Per Share | -21.25 | -14.86 | -2.00 | 2.01 | 1.85 | -1.30 |
| Levered Free Cash Flow | -9.61B | -3.60B | -1.29B | 659.81M | -406.56M | 106.15M |
| Unlevered Free Cash Flow | -9.53B | -3.58B | -1.29B | 659.81M | -406.56M | 109.47M |
| Cash Interest Paid | 12.20M | 12.20M | 7.66M | |||
| Cash Income Tax Paid | 4.50M | 4.50M | 3.70M | 2.00M | 200.00K | 167.55M |
| Change in Working Capital | 4.84B | 363.40M | -72.40M | -900.00K | -10.00M | -395.78M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 42.25B | 21.08B | 6.52B | 6.85B | 6.85B | 21.69B |
| Enterprise Value | 44.40B | 20.85B | 4.26B | 7.95B | 7.37B | 21.85B |
| Last Close Price | 154.14 | 83.70 | 27.70 | 18.94 | 18.94 | 60.50 |
| PE Ratio | 938.39 | 255.49 | 28.37 | 9.18 | ||
| Forward PE | 20.00 | 20.00 | 20.00 | 20.00 | 45.58 | |
| PS Ratio | 31.18 | 39.78 | 71.28 | 698.62 | 507.15 | 4.57 |
| PB Ratio | 4.09 | 4.59 | 2.00 | 2.08 | 1.48 | 5.96 |
| P/TBV Ratio | 4.38 | 4.61 | 2.01 | 2.08 | 3.54 | 13.80 |
| P/FCF Ratio | 9.17 | 10.03 | ||||
| P/OCF Ratio | 8.04 | 54.77 | 26.56 | 8.25 | 9.82 | 175.17 |
| PEG Ratio | 0.70 | 0.70 | 0.70 | 0.70 | 1.41 | |
| EV/Sales Ratio | 32.77 | 39.36 | 46.58 | 811.21 | 545.96 | 4.60 |
| EV/EBITDA Ratio | 172.10 | 199.42 | ||||
| EV/FCF Ratio | 10.64 | 10.80 | ||||
| Debt / Equity Ratio | 0.99 | 1.08 | 0.01 | 0.01 | 0.37 | 0.53 |
| Debt / EBITDA Ratio | 22.16 | 12.64 | ||||
| Debt / FCF Ratio | 0.04 | 2.50 | ||||
| Net Debt / Equity Ratio | 0.21 | 0.27 | -0.73 | -0.03 | 0.12 | 0.13 |
| Net Debt / EBITDA Ratio | 8.35 | -6.29 | 7.40 | 0.37 | -4.31 | 4.46 |
| Net Debt / FCF Ratio | -0.37 | -0.33 | 4.25 | -0.13 | 0.82 | -1.04 |
| Asset Turnover | 0.08 | 0.07 | 0.01 | 0.00 | 0.00 | 0.69 |
| Inventory Turnover | 0.11 | 24.16 | ||||
| Quick Ratio | 3.60 | 3.02 | 9.38 | 0.03 | 1.00 | 1.55 |
| Current Ratio | 4.03 | 3.08 | 9.60 | 0.89 | 1.28 | 1.80 |
| Return on Equity (ROE) | 0.60% | 0.25% | -10.75% | -7.54% | -4.29% | -4.72% |
| Return on Assets (ROA) | -1.92% | -4.78% | -4.06% | -2.07% | -1.27% | -1.61% |
| Return on Invested Capital (ROIC) | -4.10% | -13.00% | -19.65% | -6.80% | -3.39% | -5.00% |
| Return on Capital Employed (ROCE) | -2.00% | -5.60% | -12.20% | -5.80% | -2.70% | -3.30% |
| Earnings Yield | 0.11% | 0.39% | -9.83% | 3.52% | 10.89% | -0.90% |
| FCF Yield | -13.93% | -17.46% | -8.62% | 10.91% | 9.97% | -2.17% |
| Buyback Yield / Dilution | -22.12% | 11.86% | 24.22% | -0.77% | -1.55% | -2.55% |