Nebius Group N.V. (NBIS) 10-Year Financial Performance & Capital Metrics

NBIS •

Communication ServicesInternet ServicesSearch Engines and Web Portals

AboutNebius Group N.V., operates as a technology company that engages in building full-stack infrastructure to service the global AI industry. Its businesses include Nebius, an AI-centric cloud platform built for intensive AI workloads. Nebius builds full-stack infrastructure for AI, including large-scale GPU clusters, cloud platforms, and tools and services for developers. The company's businesses also comprise Toloka AI, a data partner for various stages of generative AI development; TripleTen, an edtech player re-skilling people for careers in tech; and Avride, which develops autonomous driving technology for self-driving cars and delivery robots. The company was formerly known as Yandex N.V. and changed its name to Nebius Group N.V. in August 2024. Nebius Group N.V. was founded in 1989 and is headquartered in Amsterdam, the Netherlands with R&D hubs across Europe, North America and Israel.Show more

Revenue $530M +350.9%
EBITDA -$192M +47.1%
Net Income $102M +115.9%
EPS (Diluted) 0.11 +104.8%
Gross Margin 68.63% +82.9%
EBITDA Margin -36.28% +88.3%
Operating Margin -112.53% +70.0%
Net Margin 19.2% +103.5%
ROE 2.59% +113.2%
ROIC -13.39% +6.5%
Debt/Equity 1.06 +6836.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 10.0% through buybacks
✓Healthy 5Y average net margin of 1229.3%

✗Weaknesses

✗Profits declining 21.1% over 5 years
✗Negative free cash flow
✗Sales declining 29.0% over 5 years
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-4.41%

5Y-29.05%

3Y239.83%

TTM410.8%

Profit (Net Income) CAGR

10Y-2.76%

5Y-21.14%

3Y-48.52%

TTM115.61%

EPS CAGR

10Y-12.54%

5Y-34.89%

3Y-60.68%

TTM168.66%

ROCE

10Y Avg2.36%

5Y Avg-6.25%

3Y Avg-8.45%

Latest-8.39%

Peer Comparison

Search Engines and Web Portals

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NBISNebius Group N.V.	20.01B	91.19	829	350.89%	19.02%	2.2%		1.06
PINSPinterest, Inc.	1.36B	17.13	28.08	15.79%	9.87%	8.78%	91.72%	0.05
OPRAOpera Limited	1.44B	16.04	17.82	21.12%	13.93%	8.58%	5.17%	0.01
TRVGtrivago N.V.	67.52M	2.92	16.50	19.11%	2.04%	5.26%	5.62%	0.17
BIDUBaidu, Inc.	10.39B	124.44	12.95	-1.09%	6.9%	3.13%	18.39%	0.28

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.23B	1.63B	1.83B	2.83B	2.95B	4.76B	13.5M	20.9M	117.5M	529.8M
Revenue Growth %	48.42%	31.99%	12.46%	54.25%	4.27%	61.52%	-99.72%	54.81%	462.2%	350.89%
Cost of Goods Sold+	321.11M	414.83M	515.07M	898.8M	1.16B	2.32B	28.4M	31.9M	73.4M	166.2M
COGS % of Revenue	26.02%	25.47%	28.12%	31.81%	39.27%	48.84%	210.37%	152.63%	62.47%	31.37%
Gross Profit+	913.07M	1.21B	1.32B	1.93B	1.79B	2.43B	-14.9M	-11M	44.1M	363.6M
Gross Margin %	73.98%	74.53%	71.88%	68.19%	60.73%	51.16%	-110.37%	-52.63%	37.53%	68.63%
Gross Profit Growth %	52.75%	32.97%	8.46%	46.33%	-7.13%	36.06%	-100.61%	26.17%	500.91%	724.49%
Operating Expenses+	704.24M	991.7M	1.02B	1.53B	1.58B	2.61B	143.1M	316.5M	484.8M	959.8M
OpEx % of Revenue	57.06%	60.88%	55.56%	54.19%	53.56%	54.89%	1060%	1514.35%	412.6%	181.16%
Selling, General & Admin	290.72M	464.78M	512.65M	810.3M	848.99M	0	57.3M	0	0	378.5M
SG&A % of Revenue	23.56%	28.53%	27.98%	28.68%	28.81%	-	424.44%	-	-	71.44%
Research & Development	257.35M	326.74M	324.01M	470.59M	490.38M	647.53M	58.3M	112.3M	129.7M	177.3M
R&D % of Revenue	20.85%	20.06%	17.69%	16.65%	16.64%	13.61%	431.85%	537.32%	110.38%	33.47%
Other Operating Expenses	156.16M	200.17M	181.09M	250.35M	238.68M	1.96B	27.5M	204.2M	355.1M	404M
Operating Income+	208.83M	222.41M	299.09M	395.69M	211.47M	-177.41M	-158M	-327.5M	-440.7M	-596.2M
Operating Margin %	16.92%	13.65%	16.33%	14%	7.18%	-3.73%	-1170.37%	-1566.99%	-375.06%	-112.53%
Operating Income Growth %	56.53%	6.5%	34.47%	32.3%	-46.55%	-183.89%	10.94%	-107.28%	-34.56%	-35.28%
EBITDA+	341.2M	387.12M	454.65M	610.65M	424.5M	109.87M	-130.5M	-298.2M	-363.4M	-192.2M
EBITDA Margin %	27.65%	23.77%	24.82%	21.61%	14.41%	2.31%	-966.67%	-1426.79%	-309.28%	-36.28%
EBITDA Growth %	50.59%	13.46%	17.44%	34.31%	-30.48%	-74.12%	-218.77%	-128.51%	-21.86%	47.11%
D&A (Non-Cash Add-back)	132.37M	164.71M	155.56M	214.97M	213.03M	287.28M	27.5M	29.3M	77.3M	404M
EBIT	208.83M	227.94M	306.01M	407.96M	211.47M	-177.41M	-158M	-327.5M	-440.7M	-596.2M
Net Interest Income+	25M	34M	46M	50M	20.68M	12M	19M	3.3M	63M	-26M
Interest Income	43M	50M	63M	51M	53.47M	62M	67M	3.3M	63M	0
Interest Expense	18M	15M	18M	1M	32.8M	50M	48M	0	0	0
Other Income/Expense	-28.28M	21.74M	453.71M	-29.63M	281.66M	80.89M	-20.9M	-11.9M	46.7M	629.2M
Pretax Income+	180.55M	244.15M	752.8M	366.06M	493.14M	-96.51M	-178.9M	-339.4M	-394M	33M
Pretax Margin %	14.63%	14.99%	41.09%	12.95%	16.74%	-2.03%	-1325.19%	-1623.92%	-335.32%	6.23%
Income Tax+	70.29M	86.87M	117.69M	187.79M	178.04M	99.28M	1.1M	2.1M	-500K	4M
Effective Tax Rate %	61.2%	65.27%	87.66%	55.86%	67.63%	203.09%	-416.77%	-71.1%	162.79%	308.18%
Net Income+	110.5M	159.35M	659.88M	204.48M	333.49M	-196.01M	745.6M	241.3M	-641.4M	101.7M
Net Margin %	8.95%	9.78%	36.02%	7.24%	11.32%	-4.12%	5522.96%	1154.55%	-545.87%	19.2%
Net Income Growth %	-17.91%	44.21%	314.1%	-69.01%	63.09%	-158.77%	480.4%	-67.64%	-365.81%	115.86%
Net Income (Continuing)	110.26M	157.28M	635.11M	178.27M	315.1M	-195.79M	-180M	-341.5M	-393.5M	29M
Discontinued Operations	0	0	0	0	0	0	1.05B	607.4M	-247.9M	72.7M
Minority Interest	24.6M	170.3M	514.74M	556.6M	312.63M	197.78M	293.56M	200K	0	0
EPS (Diluted)+	0.34	0.42	2.02	0.63	0.94	-0.54	1.81	0.65	-2.28	0.11
EPS Growth %	-19.05%	23.53%	380.95%	-68.81%	49.21%	-157.45%	435.19%	-64.09%	-450.77%	104.82%
EPS (Basic)	0.40	0.49	2.02	0.63	0.98	-0.54	2.03	0.65	-2.28	0.11
Diluted Shares Outstanding	326M	376M	327M	327M	353M	362M	413M	371M	281M	253.02M
Basic Shares Outstanding	275M	325M	327M	327M	341M	362M	368M	371M	281M	887.31M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	1.22B	1.4B	1.32B	1.94B	3.9B	2.68B	3.22B	3.45B	2.53B	4.71B
Cash & Short-Term Investments	1.03B	1.14B	990M	1.42B	3.2B	1.44B	1.13B	121.2M	2.45B	3.68B
Cash Only	461.07M	739.76M	990M	909.97M	1.78B	1.06B	1.12B	116.1M	2.45B	3.68B
Short-Term Investments	568.37M	399.51M	0	514.4M	1.42B	374.35M	10.68M	5.1M	0	0
Accounts Receivable	165.5M	226.36M	293.23M	414.32M	515.01M	905.98M	1.42B	11.5M	44.4M	720.3M
Days Sales Outstanding	48.95	50.72	58.42	53.52	63.8	69.48	38.47K	200.84	137.92	496.24
Inventory	0	693.6K	3.81M	13.03M	64.65M	128.56M	378.79M	240.38M	0	0
Days Inventory Outstanding	-	0.61	2.7	5.29	20.39	20.19	4.87K	2.75K	-	-
Other Current Assets	2.81M	11.31M	3.21M	11.95M	9.78M	6.71M	19.88M	3.05B	5.1M	278.2M
Total Non-Current Assets+	639.18M	863.32M	2.41B	2.76B	3.03B	4.23B	5.06B	5.3B	1.02B	7.74B
Property, Plant & Equipment	307.31M	367.11M	825.9M	1.11B	1.11B	1.8B	2.1B	146.9M	892M	6.49B
Fixed Asset Turnover	4.02x	4.44x	2.22x	2.54x	2.66x	2.64x	0.01x	0.14x	0.13x	0.08x
Goodwill	137.77M	161.75M	757.81M	842.07M	1.4B	1.58B	1.93B	0	0	0
Intangible Assets	90.05M	87.1M	166.13M	167.19M	293.56M	299.83M	652.48M	4.2M	4.9M	19.7M
Long-Term Investments	24.71M	121.48M	525M	452.82M	15.25M	136.98M	132.12M	102M	97.1M	847.7M
Other Non-Current Assets	68.53M	88.24M	80.7M	149.65M	184.77M	333.75M	191.92M	5.04B	13.5M	379.7M
Total Assets+	1.86B	2.26B	3.73B	4.7B	6.93B	6.91B	8.28B	8.76B	3.55B	12.45B
Asset Turnover	0.66x	0.72x	0.49x	0.60x	0.43x	0.69x	0.00x	0.00x	0.03x	0.04x
Asset Growth %	22.45%	21.47%	64.71%	25.95%	47.57%	-0.25%	19.75%	5.76%	-59.47%	250.84%
Total Current Liabilities+	238.8M	617.69M	428.17M	750.69M	844.73M	1.49B	2.52B	3.87B	264M	1.53B
Accounts Payable	128.24M	159.56M	211.75M	346.05M	367.19M	735.59M	974.97M	25M	21.4M	1.21B
Days Payables Outstanding	145.76	140.4	150.05	140.53	115.84	115.51	12.53K	286.05	106.42	2.66K
Short-Term Debt	0	309.24M	0	0	0	39.43M	285.99M	6.8M	6.1M	24.5M
Deferred Revenue (Current)	34.74M	42.73M	40.18M	57.13M	89.31M	139.67M	209.19M	6.9M	16.5M	0
Other Current Liabilities	-1.68B	-1.91B	-1.67B	0	44.7M	115.42M	330.64M	3.81B	5.2M	293.2M
Current Ratio	5.13x	2.27x	3.09x	2.58x	4.62x	1.80x	1.28x	0.89x	9.60x	3.08x
Quick Ratio	5.13x	2.27x	3.08x	2.57x	4.54x	1.71x	1.13x	0.83x	9.60x	3.08x
Cash Conversion Cycle	-	-89.07	-88.93	-81.72	-31.65	-25.84	30.81K	2.67K	-	-
Total Non-Current Liabilities+	341.23M	39.45M	211.55M	244.39M	1.41B	1.76B	1.22B	1.59B	30.9M	6.31B
Long-Term Debt	306.22M	0	0	0	1.12B	1.15B	401.14M	558.56M	0	4.1B
Capital Lease Obligations	0	0	180.74M	174.87M	217.96M	536.29M	520.72M	9.7M	30.3M	760.5M
Deferred Tax Liabilities	16.98M	16.63M	22.62M	31.47M	49.8M	40.08M	73.46M	129.51M	0	0
Other Non-Current Liabilities	18.03M	22.82M	8.19M	38.05M	19.61M	35.52M	222.08M	893.03M	600K	1.45B
Total Liabilities	580.03M	657.13M	639.72M	995.08M	2.25B	3.25B	3.74B	5.46B	294.9M	7.84B
Total Debt+	306.22M	309.24M	274.5M	353.34M	1.46B	1.89B	1.39B	584.76M	49.7M	4.89B
Net Debt	-154.86M	-430.52M	-715.5M	-556.63M	-322.06M	824.5M	276.58M	468.66M	-2.4B	1.21B
Debt / Equity	0.24x	0.19x	0.09x	0.10x	0.31x	0.52x	0.31x	0.18x	0.02x	1.06x
Debt / EBITDA	0.90x	0.80x	0.60x	0.58x	3.43x	17.18x	-	-	-	-
Net Debt / EBITDA	-0.45x	-1.11x	-1.57x	-0.91x	-0.76x	7.50x	-	-	-	-
Interest Coverage	11.60x	14.83x	16.62x	395.69x	6.45x	-3.55x	-3.29x	-	-	-
Total Equity+	1.28B	1.61B	3.09B	3.7B	4.68B	3.66B	4.54B	3.29B	3.25B	4.61B
Equity Growth %	34.54%	25.16%	92.26%	19.82%	26.42%	-21.77%	24.03%	-27.44%	-1.22%	41.78%
Book Value per Share	3.94	4.27	9.45	11.32	13.25	10.11	10.99	8.88	11.58	18.23
Total Shareholders' Equity	1.26B	1.44B	2.57B	3.14B	4.37B	3.46B	4.25B	3.29B	3.25B	4.61B
Common Stock	4.64M	4.7M	3.78M	4.21M	3.74M	3.77M	3.79M	9.2M	9.2M	8.4M
Retained Earnings	1.11B	1.18B	1.6B	1.97B	1.96B	1.76B	2.33B	3.86B	3.22B	3.32B
Treasury Stock	-136.66M	-66.13M	-154.97M	-6.63M	-80.64K	-36.58M	-18.7M	-19.6M	-1.97B	-1.08B
Accumulated OCI	14.63M	32.32M	117.74M	78.09M	240.89M	217.15M	325.61M	-2.37B	-22.1M	-100K
Minority Interest	24.6M	170.3M	514.74M	556.6M	312.63M	197.78M	293.56M	200K	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	412.96M	412.21M	405.97M	715.83M	438.2M	124.62M	697M	829.8M	245.6M	384.8M
Operating CF Margin %	33.46%	25.31%	22.16%	25.33%	14.87%	2.62%	5162.96%	3970.33%	209.02%	72.63%
Operating CF Growth %	56.61%	-0.18%	-1.51%	76.33%	-38.78%	-71.56%	459.3%	19.05%	-70.4%	56.68%
Net Income	110.78M	157.46M	636.87M	178.48M	313.82M	-196.5M	-180M	-341.5M	-393.5M	101.7M
Depreciation & Amortization	156.9M	266.53M	255.95M	405.49M	407.81M	559.47M	29.5M	36.8M	86.3M	472.1M
Stock-Based Compensation	55.89M	72.71M	94.28M	158.96M	211.38M	279.32M	9.6M	31.4M	56.6M	83.2M
Deferred Taxes	-14.11M	-24.67M	-32.58M	29.76M	8.95M	-69.24M	-2.5M	-1.5M	-2.9M	0
Other Non-Cash Items	73.41M	25.42M	-410.89M	101.47M	-216.5M	-50.17M	850.4M	1.11B	570.3M	901.2M
Working Capital Changes	30.1M	-85.24M	-137.67M	-158.33M	-287.27M	-398.26M	-10M	-4.4M	-71.2M	-1.17B
Change in Receivables	-38.95M	-34.61M	-67.7M	-55.95M	-123.26M	-392.66M	-900K	3.1M	-32.9M	-714.6M
Change in Inventory	0	0	-3.24M	-8.76M	-20.17M	-63.78M	-245.77M	44.54M	0	0
Change in Payables	0	0	0	0	0	303.62M	13M	6.7M	-31.3M	0
Cash from Investing+	-214.04M	-135.04M	373.55M	-792.56M	-1.61B	294.94M	-403.1M	-1.21B	311.6M	-4.23B
Capital Expenditures	-157.19M	-214.83M	-407.57M	-331.36M	-329.97M	-598.37M	-14.6M	-83.4M	-807.7M	-4.07B
CapEx % of Revenue	12.74%	13.19%	22.25%	11.73%	11.2%	12.57%	108.15%	399.04%	687.4%	767.46%
Acquisitions	0	-15.92M	285.56M	-5.6M	-454.25M	-110.44M	0	0	1.47B	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-6.09M	-1.61M	-33.36M	3.58M	336K	-27.24M	-388.5M	-1.12B	-358.1M	-163.3M
Cash from Financing+	-90.62M	-10.18M	-472.05M	-38.62M	1.88B	-1.14B	-100.3M	375.6M	825.5M	5.13B
Debt Issued (Net)	-88.14M	-11.58M	-306.28M	-3.87M	1.1B	24.23M	-49.97M	1.04B	-700K	4.16B
Equity Issued (Net)	0	0	-1000K	-1000K	1000K	-1000K	0	0	1000K	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-145.12M	-22.94M	-136.62M	-93.41M	0	0	0	0
Other Financing	-2.48M	1.4M	-20.65M	-11.81M	-65.56M	-1.07B	-50.33M	-668.81M	126.2M	963.8M
Net Change in Cash	51.97M	250.06M	369.18M	-200.54M	1.02B	-711.36M	131.8M	-1.03B	1.36B	1.27B
Free Cash Flow+	255.77M	197.38M	-1.6M	384.47M	108.23M	-473.75M	682.4M	746.4M	-562.1M	-3.68B
FCF Margin %	20.72%	12.12%	-0.09%	13.61%	3.67%	-9.95%	5054.81%	3571.29%	-478.38%	-694.83%
FCF Growth %	196.88%	-22.83%	-100.81%	24170.44%	-71.85%	-537.71%	244.04%	9.38%	-175.31%	-554.9%
FCF per Share	0.78	0.52	-0.00	1.18	0.31	-1.31	1.65	2.01	-2.00	-14.55
FCF Conversion (FCF/Net Income)	3.74x	2.59x	0.62x	3.50x	1.31x	-0.64x	0.93x	3.44x	-0.38x	3.78x
Interest Paid	4.31M	3.61M	1.61M	0	0	7.71M	30.77M	0	0	0
Taxes Paid	74M	98.91M	127.7M	180.38M	166.64M	168.6M	200K	0	4.8M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	9.88%	11.03%	28.11%	6.02%	7.96%	-4.7%	18.19%	6.16%	-19.59%	2.59%
Return on Invested Capital (ROIC)	14.74%	14.48%	12.64%	10.76%	4.23%	-3.01%	-2.55%	-5.73%	-14.32%	-13.39%
Gross Margin	73.98%	74.53%	71.88%	68.19%	60.73%	51.16%	-110.37%	-52.63%	37.53%	68.63%
Net Margin	8.95%	9.78%	36.02%	7.24%	11.32%	-4.12%	5522.96%	1154.55%	-545.87%	19.2%
Debt / Equity	0.24x	0.19x	0.09x	0.10x	0.31x	0.52x	0.31x	0.18x	0.02x	1.06x
Interest Coverage	11.60x	14.83x	16.62x	395.69x	6.45x	-3.55x	-3.29x	-	-	-
FCF Conversion	3.74x	2.59x	0.62x	3.50x	1.31x	-0.64x	0.93x	3.44x	-0.38x	3.78x
Revenue Growth	48.42%	31.99%	12.46%	54.25%	4.27%	61.52%	-99.72%	54.81%	462.2%	350.89%

US Stock Screener

...

Nebius Group N.V. (NBIS) 10-Year Financial Performance & Capital Metrics

NBIS •

Communication ServicesInternet ServicesSearch Engines and Web Portals

Revenue $530M +350.9%
EBITDA -$192M +47.1%
Net Income $102M +115.9%
EPS (Diluted) 0.11 +104.8%
Gross Margin 68.63% +82.9%
EBITDA Margin -36.28% +88.3%
Operating Margin -112.53% +70.0%
Net Margin 19.2% +103.5%
ROE 2.59% +113.2%
ROIC -13.39% +6.5%
Debt/Equity 1.06 +6836.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 10.0% through buybacks
✓Healthy 5Y average net margin of 1229.3%

✗Weaknesses

✗Profits declining 21.1% over 5 years
✗Negative free cash flow
✗Sales declining 29.0% over 5 years
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-4.41%

5Y-29.05%

3Y239.83%

TTM410.8%

Profit (Net Income) CAGR

10Y-2.76%

5Y-21.14%

3Y-48.52%

TTM115.61%

EPS CAGR

10Y-12.54%

5Y-34.89%

3Y-60.68%

TTM168.66%

ROCE

10Y Avg2.36%

5Y Avg-6.25%

3Y Avg-8.45%

Latest-8.39%

Peer Comparison

Search Engines and Web Portals

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NBISNebius Group N.V.	20.01B	91.19	829	350.89%	19.02%	2.2%		1.06
PINSPinterest, Inc.	1.36B	17.13	28.08	15.79%	9.87%	8.78%	91.72%	0.05
OPRAOpera Limited	1.44B	16.04	17.82	21.12%	13.93%	8.58%	5.17%	0.01
TRVGtrivago N.V.	67.52M	2.92	16.50	19.11%	2.04%	5.26%	5.62%	0.17
BIDUBaidu, Inc.	10.39B	124.44	12.95	-1.09%	6.9%	3.13%	18.39%	0.28

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.23B	1.63B	1.83B	2.83B	2.95B	4.76B	13.5M	20.9M	117.5M	529.8M
Revenue Growth %	48.42%	31.99%	12.46%	54.25%	4.27%	61.52%	-99.72%	54.81%	462.2%	350.89%
Cost of Goods Sold+	321.11M	414.83M	515.07M	898.8M	1.16B	2.32B	28.4M	31.9M	73.4M	166.2M
COGS % of Revenue	26.02%	25.47%	28.12%	31.81%	39.27%	48.84%	210.37%	152.63%	62.47%	31.37%
Gross Profit+	913.07M	1.21B	1.32B	1.93B	1.79B	2.43B	-14.9M	-11M	44.1M	363.6M
Gross Margin %	73.98%	74.53%	71.88%	68.19%	60.73%	51.16%	-110.37%	-52.63%	37.53%	68.63%
Gross Profit Growth %	52.75%	32.97%	8.46%	46.33%	-7.13%	36.06%	-100.61%	26.17%	500.91%	724.49%
Operating Expenses+	704.24M	991.7M	1.02B	1.53B	1.58B	2.61B	143.1M	316.5M	484.8M	959.8M
OpEx % of Revenue	57.06%	60.88%	55.56%	54.19%	53.56%	54.89%	1060%	1514.35%	412.6%	181.16%
Selling, General & Admin	290.72M	464.78M	512.65M	810.3M	848.99M	0	57.3M	0	0	378.5M
SG&A % of Revenue	23.56%	28.53%	27.98%	28.68%	28.81%	-	424.44%	-	-	71.44%
Research & Development	257.35M	326.74M	324.01M	470.59M	490.38M	647.53M	58.3M	112.3M	129.7M	177.3M
R&D % of Revenue	20.85%	20.06%	17.69%	16.65%	16.64%	13.61%	431.85%	537.32%	110.38%	33.47%
Other Operating Expenses	156.16M	200.17M	181.09M	250.35M	238.68M	1.96B	27.5M	204.2M	355.1M	404M
Operating Income+	208.83M	222.41M	299.09M	395.69M	211.47M	-177.41M	-158M	-327.5M	-440.7M	-596.2M
Operating Margin %	16.92%	13.65%	16.33%	14%	7.18%	-3.73%	-1170.37%	-1566.99%	-375.06%	-112.53%
Operating Income Growth %	56.53%	6.5%	34.47%	32.3%	-46.55%	-183.89%	10.94%	-107.28%	-34.56%	-35.28%
EBITDA+	341.2M	387.12M	454.65M	610.65M	424.5M	109.87M	-130.5M	-298.2M	-363.4M	-192.2M
EBITDA Margin %	27.65%	23.77%	24.82%	21.61%	14.41%	2.31%	-966.67%	-1426.79%	-309.28%	-36.28%
EBITDA Growth %	50.59%	13.46%	17.44%	34.31%	-30.48%	-74.12%	-218.77%	-128.51%	-21.86%	47.11%
D&A (Non-Cash Add-back)	132.37M	164.71M	155.56M	214.97M	213.03M	287.28M	27.5M	29.3M	77.3M	404M
EBIT	208.83M	227.94M	306.01M	407.96M	211.47M	-177.41M	-158M	-327.5M	-440.7M	-596.2M
Net Interest Income+	25M	34M	46M	50M	20.68M	12M	19M	3.3M	63M	-26M
Interest Income	43M	50M	63M	51M	53.47M	62M	67M	3.3M	63M	0
Interest Expense	18M	15M	18M	1M	32.8M	50M	48M	0	0	0
Other Income/Expense	-28.28M	21.74M	453.71M	-29.63M	281.66M	80.89M	-20.9M	-11.9M	46.7M	629.2M
Pretax Income+	180.55M	244.15M	752.8M	366.06M	493.14M	-96.51M	-178.9M	-339.4M	-394M	33M
Pretax Margin %	14.63%	14.99%	41.09%	12.95%	16.74%	-2.03%	-1325.19%	-1623.92%	-335.32%	6.23%
Income Tax+	70.29M	86.87M	117.69M	187.79M	178.04M	99.28M	1.1M	2.1M	-500K	4M
Effective Tax Rate %	61.2%	65.27%	87.66%	55.86%	67.63%	203.09%	-416.77%	-71.1%	162.79%	308.18%
Net Income+	110.5M	159.35M	659.88M	204.48M	333.49M	-196.01M	745.6M	241.3M	-641.4M	101.7M
Net Margin %	8.95%	9.78%	36.02%	7.24%	11.32%	-4.12%	5522.96%	1154.55%	-545.87%	19.2%
Net Income Growth %	-17.91%	44.21%	314.1%	-69.01%	63.09%	-158.77%	480.4%	-67.64%	-365.81%	115.86%
Net Income (Continuing)	110.26M	157.28M	635.11M	178.27M	315.1M	-195.79M	-180M	-341.5M	-393.5M	29M
Discontinued Operations	0	0	0	0	0	0	1.05B	607.4M	-247.9M	72.7M
Minority Interest	24.6M	170.3M	514.74M	556.6M	312.63M	197.78M	293.56M	200K	0	0
EPS (Diluted)+	0.34	0.42	2.02	0.63	0.94	-0.54	1.81	0.65	-2.28	0.11
EPS Growth %	-19.05%	23.53%	380.95%	-68.81%	49.21%	-157.45%	435.19%	-64.09%	-450.77%	104.82%
EPS (Basic)	0.40	0.49	2.02	0.63	0.98	-0.54	2.03	0.65	-2.28	0.11
Diluted Shares Outstanding	326M	376M	327M	327M	353M	362M	413M	371M	281M	253.02M
Basic Shares Outstanding	275M	325M	327M	327M	341M	362M	368M	371M	281M	887.31M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	1.22B	1.4B	1.32B	1.94B	3.9B	2.68B	3.22B	3.45B	2.53B	4.71B
Cash & Short-Term Investments	1.03B	1.14B	990M	1.42B	3.2B	1.44B	1.13B	121.2M	2.45B	3.68B
Cash Only	461.07M	739.76M	990M	909.97M	1.78B	1.06B	1.12B	116.1M	2.45B	3.68B
Short-Term Investments	568.37M	399.51M	0	514.4M	1.42B	374.35M	10.68M	5.1M	0	0
Accounts Receivable	165.5M	226.36M	293.23M	414.32M	515.01M	905.98M	1.42B	11.5M	44.4M	720.3M
Days Sales Outstanding	48.95	50.72	58.42	53.52	63.8	69.48	38.47K	200.84	137.92	496.24
Inventory	0	693.6K	3.81M	13.03M	64.65M	128.56M	378.79M	240.38M	0	0
Days Inventory Outstanding	-	0.61	2.7	5.29	20.39	20.19	4.87K	2.75K	-	-
Other Current Assets	2.81M	11.31M	3.21M	11.95M	9.78M	6.71M	19.88M	3.05B	5.1M	278.2M
Total Non-Current Assets+	639.18M	863.32M	2.41B	2.76B	3.03B	4.23B	5.06B	5.3B	1.02B	7.74B
Property, Plant & Equipment	307.31M	367.11M	825.9M	1.11B	1.11B	1.8B	2.1B	146.9M	892M	6.49B
Fixed Asset Turnover	4.02x	4.44x	2.22x	2.54x	2.66x	2.64x	0.01x	0.14x	0.13x	0.08x
Goodwill	137.77M	161.75M	757.81M	842.07M	1.4B	1.58B	1.93B	0	0	0
Intangible Assets	90.05M	87.1M	166.13M	167.19M	293.56M	299.83M	652.48M	4.2M	4.9M	19.7M
Long-Term Investments	24.71M	121.48M	525M	452.82M	15.25M	136.98M	132.12M	102M	97.1M	847.7M
Other Non-Current Assets	68.53M	88.24M	80.7M	149.65M	184.77M	333.75M	191.92M	5.04B	13.5M	379.7M
Total Assets+	1.86B	2.26B	3.73B	4.7B	6.93B	6.91B	8.28B	8.76B	3.55B	12.45B
Asset Turnover	0.66x	0.72x	0.49x	0.60x	0.43x	0.69x	0.00x	0.00x	0.03x	0.04x
Asset Growth %	22.45%	21.47%	64.71%	25.95%	47.57%	-0.25%	19.75%	5.76%	-59.47%	250.84%
Total Current Liabilities+	238.8M	617.69M	428.17M	750.69M	844.73M	1.49B	2.52B	3.87B	264M	1.53B
Accounts Payable	128.24M	159.56M	211.75M	346.05M	367.19M	735.59M	974.97M	25M	21.4M	1.21B
Days Payables Outstanding	145.76	140.4	150.05	140.53	115.84	115.51	12.53K	286.05	106.42	2.66K
Short-Term Debt	0	309.24M	0	0	0	39.43M	285.99M	6.8M	6.1M	24.5M
Deferred Revenue (Current)	34.74M	42.73M	40.18M	57.13M	89.31M	139.67M	209.19M	6.9M	16.5M	0
Other Current Liabilities	-1.68B	-1.91B	-1.67B	0	44.7M	115.42M	330.64M	3.81B	5.2M	293.2M
Current Ratio	5.13x	2.27x	3.09x	2.58x	4.62x	1.80x	1.28x	0.89x	9.60x	3.08x
Quick Ratio	5.13x	2.27x	3.08x	2.57x	4.54x	1.71x	1.13x	0.83x	9.60x	3.08x
Cash Conversion Cycle	-	-89.07	-88.93	-81.72	-31.65	-25.84	30.81K	2.67K	-	-
Total Non-Current Liabilities+	341.23M	39.45M	211.55M	244.39M	1.41B	1.76B	1.22B	1.59B	30.9M	6.31B
Long-Term Debt	306.22M	0	0	0	1.12B	1.15B	401.14M	558.56M	0	4.1B
Capital Lease Obligations	0	0	180.74M	174.87M	217.96M	536.29M	520.72M	9.7M	30.3M	760.5M
Deferred Tax Liabilities	16.98M	16.63M	22.62M	31.47M	49.8M	40.08M	73.46M	129.51M	0	0
Other Non-Current Liabilities	18.03M	22.82M	8.19M	38.05M	19.61M	35.52M	222.08M	893.03M	600K	1.45B
Total Liabilities	580.03M	657.13M	639.72M	995.08M	2.25B	3.25B	3.74B	5.46B	294.9M	7.84B
Total Debt+	306.22M	309.24M	274.5M	353.34M	1.46B	1.89B	1.39B	584.76M	49.7M	4.89B
Net Debt	-154.86M	-430.52M	-715.5M	-556.63M	-322.06M	824.5M	276.58M	468.66M	-2.4B	1.21B
Debt / Equity	0.24x	0.19x	0.09x	0.10x	0.31x	0.52x	0.31x	0.18x	0.02x	1.06x
Debt / EBITDA	0.90x	0.80x	0.60x	0.58x	3.43x	17.18x	-	-	-	-
Net Debt / EBITDA	-0.45x	-1.11x	-1.57x	-0.91x	-0.76x	7.50x	-	-	-	-
Interest Coverage	11.60x	14.83x	16.62x	395.69x	6.45x	-3.55x	-3.29x	-	-	-
Total Equity+	1.28B	1.61B	3.09B	3.7B	4.68B	3.66B	4.54B	3.29B	3.25B	4.61B
Equity Growth %	34.54%	25.16%	92.26%	19.82%	26.42%	-21.77%	24.03%	-27.44%	-1.22%	41.78%
Book Value per Share	3.94	4.27	9.45	11.32	13.25	10.11	10.99	8.88	11.58	18.23
Total Shareholders' Equity	1.26B	1.44B	2.57B	3.14B	4.37B	3.46B	4.25B	3.29B	3.25B	4.61B
Common Stock	4.64M	4.7M	3.78M	4.21M	3.74M	3.77M	3.79M	9.2M	9.2M	8.4M
Retained Earnings	1.11B	1.18B	1.6B	1.97B	1.96B	1.76B	2.33B	3.86B	3.22B	3.32B
Treasury Stock	-136.66M	-66.13M	-154.97M	-6.63M	-80.64K	-36.58M	-18.7M	-19.6M	-1.97B	-1.08B
Accumulated OCI	14.63M	32.32M	117.74M	78.09M	240.89M	217.15M	325.61M	-2.37B	-22.1M	-100K
Minority Interest	24.6M	170.3M	514.74M	556.6M	312.63M	197.78M	293.56M	200K	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	412.96M	412.21M	405.97M	715.83M	438.2M	124.62M	697M	829.8M	245.6M	384.8M
Operating CF Margin %	33.46%	25.31%	22.16%	25.33%	14.87%	2.62%	5162.96%	3970.33%	209.02%	72.63%
Operating CF Growth %	56.61%	-0.18%	-1.51%	76.33%	-38.78%	-71.56%	459.3%	19.05%	-70.4%	56.68%
Net Income	110.78M	157.46M	636.87M	178.48M	313.82M	-196.5M	-180M	-341.5M	-393.5M	101.7M
Depreciation & Amortization	156.9M	266.53M	255.95M	405.49M	407.81M	559.47M	29.5M	36.8M	86.3M	472.1M
Stock-Based Compensation	55.89M	72.71M	94.28M	158.96M	211.38M	279.32M	9.6M	31.4M	56.6M	83.2M
Deferred Taxes	-14.11M	-24.67M	-32.58M	29.76M	8.95M	-69.24M	-2.5M	-1.5M	-2.9M	0
Other Non-Cash Items	73.41M	25.42M	-410.89M	101.47M	-216.5M	-50.17M	850.4M	1.11B	570.3M	901.2M
Working Capital Changes	30.1M	-85.24M	-137.67M	-158.33M	-287.27M	-398.26M	-10M	-4.4M	-71.2M	-1.17B
Change in Receivables	-38.95M	-34.61M	-67.7M	-55.95M	-123.26M	-392.66M	-900K	3.1M	-32.9M	-714.6M
Change in Inventory	0	0	-3.24M	-8.76M	-20.17M	-63.78M	-245.77M	44.54M	0	0
Change in Payables	0	0	0	0	0	303.62M	13M	6.7M	-31.3M	0
Cash from Investing+	-214.04M	-135.04M	373.55M	-792.56M	-1.61B	294.94M	-403.1M	-1.21B	311.6M	-4.23B
Capital Expenditures	-157.19M	-214.83M	-407.57M	-331.36M	-329.97M	-598.37M	-14.6M	-83.4M	-807.7M	-4.07B
CapEx % of Revenue	12.74%	13.19%	22.25%	11.73%	11.2%	12.57%	108.15%	399.04%	687.4%	767.46%
Acquisitions	0	-15.92M	285.56M	-5.6M	-454.25M	-110.44M	0	0	1.47B	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-6.09M	-1.61M	-33.36M	3.58M	336K	-27.24M	-388.5M	-1.12B	-358.1M	-163.3M
Cash from Financing+	-90.62M	-10.18M	-472.05M	-38.62M	1.88B	-1.14B	-100.3M	375.6M	825.5M	5.13B
Debt Issued (Net)	-88.14M	-11.58M	-306.28M	-3.87M	1.1B	24.23M	-49.97M	1.04B	-700K	4.16B
Equity Issued (Net)	0	0	-1000K	-1000K	1000K	-1000K	0	0	1000K	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-145.12M	-22.94M	-136.62M	-93.41M	0	0	0	0
Other Financing	-2.48M	1.4M	-20.65M	-11.81M	-65.56M	-1.07B	-50.33M	-668.81M	126.2M	963.8M
Net Change in Cash	51.97M	250.06M	369.18M	-200.54M	1.02B	-711.36M	131.8M	-1.03B	1.36B	1.27B
Free Cash Flow+	255.77M	197.38M	-1.6M	384.47M	108.23M	-473.75M	682.4M	746.4M	-562.1M	-3.68B
FCF Margin %	20.72%	12.12%	-0.09%	13.61%	3.67%	-9.95%	5054.81%	3571.29%	-478.38%	-694.83%
FCF Growth %	196.88%	-22.83%	-100.81%	24170.44%	-71.85%	-537.71%	244.04%	9.38%	-175.31%	-554.9%
FCF per Share	0.78	0.52	-0.00	1.18	0.31	-1.31	1.65	2.01	-2.00	-14.55
FCF Conversion (FCF/Net Income)	3.74x	2.59x	0.62x	3.50x	1.31x	-0.64x	0.93x	3.44x	-0.38x	3.78x
Interest Paid	4.31M	3.61M	1.61M	0	0	7.71M	30.77M	0	0	0
Taxes Paid	74M	98.91M	127.7M	180.38M	166.64M	168.6M	200K	0	4.8M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	9.88%	11.03%	28.11%	6.02%	7.96%	-4.7%	18.19%	6.16%	-19.59%	2.59%
Return on Invested Capital (ROIC)	14.74%	14.48%	12.64%	10.76%	4.23%	-3.01%	-2.55%	-5.73%	-14.32%	-13.39%
Gross Margin	73.98%	74.53%	71.88%	68.19%	60.73%	51.16%	-110.37%	-52.63%	37.53%	68.63%
Net Margin	8.95%	9.78%	36.02%	7.24%	11.32%	-4.12%	5522.96%	1154.55%	-545.87%	19.2%
Debt / Equity	0.24x	0.19x	0.09x	0.10x	0.31x	0.52x	0.31x	0.18x	0.02x	1.06x
Interest Coverage	11.60x	14.83x	16.62x	395.69x	6.45x	-3.55x	-3.29x	-	-	-
FCF Conversion	3.74x	2.59x	0.62x	3.50x	1.31x	-0.64x	0.93x	3.44x	-0.38x	3.78x
Revenue Growth	48.42%	31.99%	12.46%	54.25%	4.27%	61.52%	-99.72%	54.81%	462.2%	350.89%

Nebius Group N.V. (NBIS) 10-Year Financial Performance & Capital Metrics

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Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

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Profit & Loss

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Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

Nebius Group N.V. (NBIS) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare NBIS vs Peers

vs BIDU

vs OPRA

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios