Nebius Group N.V. (NBIS) quarterly cash flow statement — complete operating, investing & financing history
Nebius Group N.V. (NBIS) cash flow statement — 17-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 2.25B | 2.26B | 834.3M | -80.4M | 0 | 0 | -74.6M | -55.8M | 0 | 0 | 145.53M | 176.22M | 135.66M | 306.89M | -58.33M | 453.01M | 397.37M | -48.47M | 47.61M | 30.39M |
| Operating CF Margin % | 385.73% | 565.91% | 366.4% | -55.03% | - | - | -196.83% | -128.87% | - | - | 2172.12% | 3524.5% | 2886.34% | 5989.1% | -2.61% | 20.48% | 18.39% | -3.72% | 3.23% | 2.42% |
| Operating CF Growth % | - | - | 1218.36% | -44.09% | - | - | -151.26% | -131.66% | -100% | -100% | 349.49% | -61.1% | -65.86% | 733.14% | -222.52% | 1390.5% | 708.7% | -142.99% | -31.49% | -87.3% |
| Net Income | -190.4M | 621.2M | -249.6M | -119.6M | 502.5M | -113.6M | -164.4M | -43.6M | -39.3M | -79.78M | -88.3M | -96.8M | -74.3M | -117.31M | 78.36M | 779.68M | 153.35M | -156.07M | -60.87M | -46.05M |
| Depreciation & Amortization | 321.1M | 241.8M | 210.7M | 111.8M | 75.2M | 49.2M | 37.3M | 25.3M | 11.5M | 8.91M | 8.3M | 6.1M | 6.5M | 6.85M | 218.24M | 220.77M | 257.39M | 167.53M | 153.98M | 156.69M |
| Stock-Based Compensation | 102.5M | 0 | 50.9M | 26.2M | 0 | 0 | 42.6M | 6.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12.29M | -51.64M | 75M | 0 | 0 |
| Deferred Taxes | 0 | -7.8M | 0 | -200K | 0 | 0 | -600K | -3.5M | 0 | 0 | -830.93K | 4.07M | 7.03M | -11.65M | 49.07M | 18.56M | 6.72M | -454.9K | 2.53M | -18.68M |
| Other Non-Cash Items | 1.2B | -718.9M | 1.63B | -100K | -577.7M | 64.4M | 45.4M | -27.7M | 27.8M | 70.87M | 133.62M | 291.69M | 363.44M | 329.93M | -111.52M | -690.84M | 11.36M | 6.32M | 38.08M | 33.79M |
| Working Capital Changes | 810.8M | 2.12B | -804.4M | -98.5M | 0 | 0 | -34.9M | -13.2M | 0 | 0 | 92.74M | -28.84M | -167.01M | 99.06M | -292.48M | 112.55M | 20.2M | -140.8M | -86.11M | -95.35M |
| Change in Receivables | 1.19B | -673.5M | -632.8M | -9.2M | 0 | 0 | -32.1M | -5.8M | 0 | 0 | 207.64M | -124.8M | -98.42M | 18.44M | -448.4M | -193.89M | -39.29M | 83.59M | -160M | -54.18M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15.04M | -26.29M | 44.51M | 7.75M | -164.83M | -25.01M | -45.7M | -43.86M | -34.67M | -3.89M |
| Change in Payables | 0 | -64.9M | 0 | -4.3M | 0 | 0 | -20.2M | 3.4M | 0 | 0 | -187.49M | 129.58M | -58.27M | 122.35M | 407.05M | 23.97B | 178.05M | -125.24M | 179.24M | 54.98M |
| Cash from Investing | -5.65B | -2.64B | -2.13B | -952M | 0 | 0 | -416M | 12.6M | 0 | 0 | 201.24M | -206.56M | -987.12M | -123.99M | -343.28M | -76.32M | -107.43M | 109.1M | -81.65M | 26.27M |
| Capital Expenditures | -5.66B | -2.47B | -2.06B | -955.5M | 0 | 0 | -417.7M | -172.1M | 0 | 0 | 609.8M | -272.43M | -283.99M | -130.2M | -319.42M | -78.91M | -146.64M | -215.28M | -263.15M | -117.65M |
| CapEx % of Revenue | 971.56% | 619.77% | 902.94% | 654% | - | - | 1102.11% | 397.46% | - | - | 9101.55% | 5448.59% | 6042.34% | 2540.96% | 14.27% | 3.57% | 6.78% | 16.52% | 17.85% | 9.38% |
| Acquisitions | -81.4M | -170.2M | 0 | 0 | 0 | 0 | 0 | 184.2M | 0 | 0 | 607.2M | 96.3M | -703.49M | 0 | -744.2K | 30.73M | 0 | -9.82M | -210.67M | -814.76M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 93.1M | 0 | -75M | 3.5M | 0 | 0 | 1.7M | 500K | 0 | 0 | -1B | -30.17M | -1.76M | 6.45M | -6.85M | -107M | -249.86M | 6.46M | -2.08M | 2.14M |
| Cash from Financing | 2.86B | 6.3B | 106.4M | 4.2B | 0 | 0 | 658.5M | -1.3M | 0 | 0 | -268.94M | 196.02M | 152.18M | 266.7M | -7.46M | -15.07M | -7.67M | -42.28M | -20.45M | -125.99M |
| Debt Issued (Net) | 0 | 4.34B | 0 | 3.16B | 0 | 0 | -100K | -200K | 0 | 0 | 373.6M | 98.94M | 221.69M | 267.75M | 12.62M | -8.9M | 4.61M | -35.34M | 36.17M | -3.25M |
| Equity Issued (Net) | 0 | 2B | 6.4M | 1.15B | 0 | 0 | 700M | -1.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -46.02M | -45.88M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -47.74M | -48.37M |
| Other Financing | 2.86B | -43.8M | 100M | -111.1M | 0 | 0 | -41.4M | 0 | 0 | 0 | -642.54M | 97.08M | -69.51M | -1.05M | -20.08M | -6.16M | -12.28M | -6.94M | -10.59M | -76.85M |
| Net Change in Cash | -528.8M | 5.62B | -1.2B | 3.17B | 226.2M | -922.6M | 162M | -37.3M | 2.17B | 34.07M | -756.71M | 71.93M | -733.47M | 389.06M | -486.21M | 430.56M | -198.82M | 82.77M | -61.79M | -84.07M |
| Free Cash Flow | -3.41B | -214.9M | -1.22B | -1.04B | 0 | 0 | -492.3M | -227.9M | 0 | 0 | 755.34M | -96.2M | -148.33M | 176.69M | -377.76M | 374.1M | 250.73M | -263.75M | -215.54M | -87.26M |
| FCF Margin % | -585.83% | -53.86% | -536.54% | -709.03% | - | - | -1298.94% | -526.33% | - | - | 11273.67% | -1924.09% | -3156% | 3448.14% | -16.88% | 16.91% | 11.6% | -20.24% | -14.62% | -6.96% |
| FCF Growth % | - | - | -148.16% | -354.54% | - | - | -165.18% | -136.89% | 100% | -100% | 299.95% | -125.72% | -159.16% | 166.99% | -75.26% | 528.73% | 200.29% | -500.36% | -1135.32% | -148.51% |
| FCF per Share | -12.17 | -0.70 | -4.83 | -4.11 | - | - | -2.09 | -0.79 | - | - | 2.04 | -0.27 | -0.40 | 0.47 | -1.02 | 1.01 | 0.67 | -0.72 | -0.59 | -0.24 |
| FCF Conversion (FCF/Net Income) | -11.80x | 3.63x | -3.34x | 0.67x | - | - | 0.56x | 0.59x | - | - | -2.00x | 2.09x | 0.77x | 5.26x | -0.87x | 0.63x | 3.75x | 0.27x | -0.80x | -0.65x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -158M | 8.61M | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 999M | 3.21B | 33.34M | 0 | 0 |