Latest Ratios: P/E Ratio 21.1x · EV/EBITDA 4.0x · ROE 5.0%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $483M | $399M | $702M | $363M | $494M | $1.2B | — | — | — | — | — |
| Enterprise Value | $381M | $298M | $552M | $265M | $404M | $804M | — | — | — | — | — |
| P/E Ratio → | 21.12 | 15.95 | 19.65 | — | 21.50 | 15.78 | — | — | — | — | — |
| P/S Ratio | 1.32 | 1.09 | 1.92 | 1.09 | 1.47 | 3.38 | — | — | — | — | — |
| P/B Ratio | 1.11 | 0.84 | 1.32 | 0.67 | 0.89 | 2.02 | — | — | — | — | — |
| P/FCF | 4.92 | 4.08 | 5.52 | 8.83 | 7.28 | 7.15 | — | — | — | — | — |
| P/OCF | 4.38 | 3.63 | 4.66 | 5.98 | 5.95 | 6.80 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.82 | 1.51 | 0.80 | 1.21 | 2.35 | — | — | — | — | — |
| EV / EBITDA | 3.99 | 3.12 | 5.55 | 4.31 | 4.32 | 7.01 | — | — | — | — | — |
| EV / EBIT | 11.75 | 7.55 | 11.64 | — | 8.59 | 10.73 | — | — | — | — | — |
| EV / FCF | — | 3.04 | 4.34 | 6.45 | 5.96 | 4.97 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.9% | 84.9% | 83.3% | 81.2% | 81.9% | 79.0% | 71.8% | 42.5% | 40.2% | 38.2% | 36.5% |
| Operating Margin | 8.9% | 8.9% | 11.2% | -5.1% | 15.1% | 21.8% | -2.8% | 1.2% | 9.6% | 8.4% | 15.7% |
| Net Profit Margin | 6.9% | 6.9% | 9.7% | -6.5% | 6.8% | 21.4% | 1.0% | 1.9% | 8.0% | 6.5% | 13.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.0% | 5.0% | 6.6% | -3.9% | 4.0% | 16.2% | 0.7% | 2.9% | 23.4% | 23.8% | 34.3% |
| ROA | 3.1% | 3.1% | 4.1% | -2.3% | 2.6% | 10.9% | 0.4% | 1.9% | 11.9% | 10.6% | 20.4% |
| ROIC | 6.5% | 6.5% | 7.4% | -2.8% | 11.2% | 23.6% | -1.8% | 1.9% | 28.9% | 26.9% | 46.0% |
| ROCE | 6.2% | 6.2% | 6.6% | -2.5% | 8.1% | 16.0% | -1.8% | 1.7% | 23.1% | 22.9% | 38.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.07 | 0.07 | 0.07 | 0.25 | 0.23 | 0.03 | 0.06 | 0.08 | 0.10 | 0.48 | — |
| Debt / EBITDA | 0.33 | 0.33 | 0.37 | 2.21 | 1.37 | 0.13 | 0.54 | 0.67 | 0.34 | 1.00 | — |
| Net Debt / Equity | — | -0.21 | -0.28 | -0.18 | -0.16 | -0.62 | -0.23 | -0.18 | -0.44 | 0.06 | -0.42 |
| Net Debt / EBITDA | -1.06 | -1.06 | -1.51 | -1.60 | -0.96 | -3.07 | -1.95 | -1.51 | -1.46 | 0.13 | -0.86 |
| Debt / FCF | — | -1.03 | -1.18 | -2.39 | -1.32 | -2.18 | -2.57 | -1.43 | -1.58 | 0.14 | -1.14 |
| Interest Coverage | 17.94 | 17.94 | 5.31 | -0.86 | 10.20 | 28.07 | -3.00 | 4.30 | 35.92 | 31.71 | 39.86 |
Net cash position: cash ($133M) exceeds total debt ($32M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.29 | 1.29 | 1.44 | 1.97 | 1.64 | 2.50 | 1.46 | 1.73 | 2.06 | 1.47 | 1.59 |
| Quick Ratio | 1.29 | 1.29 | 1.44 | 1.97 | 1.64 | 2.50 | 1.46 | 1.73 | 2.06 | 1.47 | 1.59 |
| Cash Ratio | 0.51 | 0.51 | 0.65 | 1.02 | 0.78 | 1.67 | 0.53 | 0.72 | 1.00 | 0.36 | 0.67 |
| Asset Turnover | — | 0.48 | 0.43 | 0.37 | 0.35 | 0.43 | 0.40 | 0.74 | 1.40 | 1.20 | 1.49 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 200.26 | 222.16 | 233.39 | 249.95 | 179.89 | 274.09 | 115.38 | 91.84 | 140.09 | 83.41 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | 28.7% | 19.0% | 24.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 6.3% | 5.1% | — | 4.7% | 6.3% | — | — | — | — | — |
| FCF Yield | 20.3% | 24.5% | 18.1% | 11.3% | 13.7% | 14.0% | — | — | — | — | — |
| Buyback Yield | 21.1% | 25.5% | 8.6% | 2.6% | 17.4% | 0.6% | — | — | — | — | — |
| Total Shareholder Yield | 21.1% | 25.5% | 8.6% | 2.6% | 17.4% | 0.6% | — | — | — | — | — |
| Shares Outstanding | — | $61M | $70M | $72M | $77M | $76M | $69M | $57M | $70M | $64M | $64M |
Integration and Geopolitical Volatility
According to current market data, Nexxen trades at a forward P/E of 8.15 and an EV/EBITDA of 3.50, suggesting that investors are pricing in significant execution risk regarding the company's ability to derive long-term organic growth from its recent, complex M&A-driven platform expansion.
The stark discount relative to peers like The Trade Desk, which commands a much higher multiple, implies the market views Nexxen as a collection of legacy assets rather than a unified growth engine. This valuation gap warrants further investigation into whether the current multiple reflects a permanent conglomerate discount or a temporary mispricing of the company's integrated data capabilities.
As reported in financial statements, Nexxen's ROIC has struggled to maintain positive momentum, falling to -0.9% in 2026Q1, which indicates that the company is currently failing to generate returns on invested capital that exceed its cost of capital during this intensive integration phase.
The volatility in ROIC, which peaked at 4.8% in 2024Q4 before turning negative, highlights the difficulty management faces in scaling the platform profitably after the Amobee acquisition. Investors should monitor whether future margin expansion can drive a recovery in capital returns or if the asset base remains bloated by underperforming intangible assets.
Based on recent quarterly filings, Nexxen's DSO has remained elevated, averaging over 200 days in recent periods, which suggests that the company faces significant challenges in converting its programmatic advertising revenue into cash, potentially indicating weaker leverage over its agency and brand customer base.
The lack of consistent improvement in the cash conversion cycle points to operational inefficiencies that may be masking the true earning power of the business. This extended collection period appears to be a structural drag on liquidity, necessitating a closer look at the company's credit terms and the quality of its accounts receivable.
As indicated by the latest balance sheet data, Nexxen's current ratio has tightened to 1.25 in 2026Q1, reflecting a narrowing margin of safety as the company navigates a period of negative free cash flow and ongoing operational integration costs following its recent corporate rebranding.
While the company maintains a healthy debt-to-equity ratio of 0.06, the rapid decline in cash reserves from previous periods suggests that the current liquidity position may be insufficient to support aggressive growth initiatives without further capital allocation discipline. The company's reliance on cash for share repurchases during this period appears to be an inefficient use of capital given the tightening liquidity profile.
Based on an analysis of financial reporting, the most commonly misapplied metric for Nexxen is Adjusted EBITDA, which frequently obscures the significant impact of stock-based compensation and the amortization of acquired intangibles that are central to the company's M&A-heavy business model.
Investors should prioritize Free Cash Flow and Contribution ex-TAC over Adjusted EBITDA to better understand the company's actual ability to generate cash after accounting for the high costs of maintaining its integrated tech stack. Relying on EBITDA alone may lead to an overestimation of operational health by ignoring the persistent dilution and capital intensity inherent in the firm's current strategy.
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Quick answers to the most common questions about buying NEXN stock.
Nexxen International Ltd.'s current P/E ratio is 21.1x. The historical average is 18.2x. This places it at the 75th percentile of its historical range.
Nexxen International Ltd.'s current EV/EBITDA is 4.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.9x.
Nexxen International Ltd.'s return on equity (ROE) is 5.0%. The historical average is 12.2%.
Based on historical data, Nexxen International Ltd. is trading at a P/E of 21.1x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Nexxen International Ltd. has 84.9% gross margin and 8.9% operating margin.
Nexxen International Ltd.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.