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Nebius Group N.V. (NBIS) stock

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NASDAQ: NBIS Nasdaq Internet Services & Infrastructure Next results ~November 12, 2026

C Fundamentals grade

Nebius Group N.V. is a US-listed company in the internet services & infrastructure industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Nebius Group N.V. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

Nebius Group N.V. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 10 selling11 purchases and 126 sales by directors and officers, last 12 monthsInsider trades
  • Funds675 adding, 331 cuttingOf 77 active managers that changed their stake, 45 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Nebius Group files

Where Nebius stands after its latest Filing

Revenue for the twelve months was $530m, up 479.0% on a year earlier, slower than the 833.7% growth a quarter earlier. Free-cash-flow margin fell to -694.8% from -9.9% a year earlier. Operating margin narrowed to -115.5% from -3.7%. The diluted share count is down 11.9% on a year earlier, which lifts each remaining share. It passes 1 of our 6 financial-health checks.

Our model value for Nebius Group is under review, so past values are not shown until it is resolved.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Nebius Group N.V.'s trailing-twelve-month revenue grew 479.0% year on year, with a free-cash-flow margin of -694.8%. Where it stands out: revenue growth of 479.0% ranks 1 of 34 internet services & infrastructure companies we cover. Where it lags: change in growth rate of -354.7pp ranks 34 of 34 internet services & infrastructure companies we cover.

Current signal Capital expenditure surging: TTM capex grew 404% year over year and now absorbs 767.5% of revenue.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 479.0% over the last 12 months, against a median of 10.1% for internet services & infrastructure companies we cover.
  • Margins widening. Operating margin is up 321.3 points on a year ago.
  • Shrinking share count. Diluted shares fell 11.9% in a year, so each share owns more of the business.

Things to watch

  • Growth slowing. The growth rate is 354.7 points lower than a quarter earlier.
  • Loss-making. Operating margin is -115.5%: costs exceed revenue.
  • Burning cash. Free cash flow was -694.8% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 15.7% of revenue, against a median of 12.4% for internet services & infrastructure companies we cover: a real cost that cash-flow figures leave out.
  • Volatile shares. Over the past year the shares showed annualised volatility of 110% and a beta of 4.0 against the S&P 500.
  • Weak cash conversion. Free cash flow was -4462% of net income over the last 12 months.

Latest results

Earnings per share
-$0.68 against an average estimate of -$0.86: beat by 21.2%
Next report
November 12, 2026; average EPS estimate -$0.60

Nebius Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+7.1%
  • 1 week-11.2%
  • 1 month-37.6%
  • This year+68.9%
  • 1 year+25.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$530M
Operating margin
-115.5%
Net margin
15.6%
EPS (TTM, diluted)
$0.33

Growth

Revenue growth
+479.0%
Change in growth rate
−354.7 pts
Share count change
−11.9%

Cash

Free cash flow (TTM)
-$3.7B
FCF margin
-694.8%
Stock pay % of revenue
15.7%

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for NBIS from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Nebius Group N.V. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Nebius Group N.V. as an operating company, with every model that fits that kind of business. Cost of equity 12.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.75 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: the projected cash flows don't support a positive value
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$7.5 ~$5.8–$10 Left out: out of range vs price (0.05x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$3.2 ~$2.1–$4.8 Left out: out of range vs price (0.02x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Nebius Group N.V. with Internet Services & Infrastructure in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20242025
Share price$27.70$83.70
Market value$7.8bn$20.7bn
+ Net debt (− = net cash)−$2.4bn$1.2bn
Enterprise value$5.3bn$21.9bn
Multiples
Price / sales 85.1x39.1x
Price / earnings —n/m
Price / free cash flow ——
EV / EBITDA ——

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 12, 2026, before the open. Analysts expect revenue of $906m and EPS of −$0.60 (range −$1.07 to $0.31) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$2.11 — $3.3bn +531%
Next −$6.16 −191% $12.2bn +266%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −1.1% on 90 days ago. In the last 30 days, 1 analyst raised Nebius Group N.V.'s forecast and 1 cut it.

Consensus EPS forecast Nebius Group N.V., last 90 days
−$8.00 −$6.00 −$4.00 −$2.00 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$2.14 Current fiscal year, 60 days ago: −$2.36 Current fiscal year, 30 days ago: −$2.52 Current fiscal year, 7 days ago: −$2.11 Current fiscal year, Now: −$2.11 −$2.11 Next fiscal year, 90 days ago: −$4.87 Next fiscal year, 60 days ago: −$4.66 Next fiscal year, 30 days ago: −$5.65 Next fiscal year, 7 days ago: −$6.16 Next fiscal year, Now: −$6.16 −$6.16

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$2.14−$4.87
60 days ago −$2.36−$4.66
30 days ago −$2.52−$5.65
7 days ago −$2.11−$6.16
Now −$2.11−$6.16

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.86 −$0.68 +21.2%
Mar 2026 −$0.71 $2.11 +396.1%
Dec 2025 −$0.60 −$0.99 −63.1%
Sept 2025 −$0.40 −$0.47 −20.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

22 analysts, Oct 2026
Buy1568%
Hold627%
Sell15%

Monthly trend

  1. Oct 2026213622
  2. Sep 2026212521
  3. Aug 202610618
  4. Jul 202610517

Counts of recommendations published by analysts covering Nebius Group N.V., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
20.2%
of tradable shares
Days to cover
2.61
at average volume
Short interest, 1 month
+2%
to October 15, 2026
Held by institutions
71%
of shares
Held by insiders
3.4%
of shares
Employees
1,543
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 20252026 to date
Return
NBIS+202%+69%
Industry peers (median)−12%−30%
S&P 500+18%+11%
Months that ended higher
NBIS58%73%
S&P 50075%46%
Largest fall from a high during the year
NBIS−58%−51%
S&P 500−19%−9%

Worst fall since October 21, 2024: 58% from February 18, 2025 to April 8, 2025. Getting back needed a 140% gain, reached on June 6, 2025, 59 days after the low.

Price behaviour

52-week range
$73.87 – $286.69
From 52-week high
−50.7%
vs 50-day average
−32.1%
vs 200-day average
−20.4%
Volatility (1 year)
110%
Beta vs S&P 500
3.98

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Nebius Group N.V. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Nebius Group N.V.
$0 $2B $4B $6B FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue (TTM), FY14 Q4: $902.4M Revenue (TTM), FY15 Q4: $820.4M Revenue (TTM), FY16 Q4: $1.3B Revenue (TTM), FY17 Q4: $1.6B Revenue (TTM), FY18 Q4: $1.8B Revenue (TTM), FY19 Q4: $2.2B Revenue (TTM), FY20 Q4: $3B Revenue (TTM), FY21 Q4: $4.8B Revenue (TTM), FY22 Q4: $1.3B Revenue (TTM), FY23 Q4: $9.8M Revenue (TTM), FY24 Q4: $91.5M Revenue (TTM), FY25 Q4: $529.8M $529.8M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY14 Q4 $902.4M
FY15 Q4 $820.4M
FY16 Q4 $1.3B
FY17 Q4 $1.6B
FY18 Q4 $1.8B
FY19 Q4 $2.2B
FY20 Q4 $3B
FY21 Q4 $4.8B
FY22 Q4 $1.3B
FY23 Q4 $9.8M
FY24 Q4 $91.5M
FY25 Q4 $529.8M
Revenue growth, TTM YoY Nebius Group N.V.
-500% 0% 500% 1000% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue growth, TTM YoY, FY14 Q4: -25.2% Revenue growth, TTM YoY, FY15 Q4: -9.1% Revenue growth, TTM YoY, FY16 Q4: 52.6% Revenue growth, TTM YoY, FY17 Q4: 30.5% Revenue growth, TTM YoY, FY18 Q4: 12.5% Revenue growth, TTM YoY, FY19 Q4: 21.0% Revenue growth, TTM YoY, FY20 Q4: 32.9% Revenue growth, TTM YoY, FY21 Q4: 62.2% Revenue growth, TTM YoY, FY22 Q4: -72.7% Revenue growth, TTM YoY, FY23 Q4: -99.3% Revenue growth, TTM YoY, FY24 Q4: 833.7% Revenue growth, TTM YoY, FY25 Q4: 479.0% 479.0%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY14 Q4 -25.2%
FY15 Q4 -9.1%
FY16 Q4 52.6%
FY17 Q4 30.5%
FY18 Q4 12.5%
FY19 Q4 21.0%
FY20 Q4 32.9%
FY21 Q4 62.2%
FY22 Q4 -72.7%
FY23 Q4 -99.3%
FY24 Q4 833.7%
FY25 Q4 479.0%
Operating margin (TTM) Nebius Group N.V.
-3000% -2000% -1000% 0% 1000% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Operating margin (TTM), FY14 Q4: 30.2% Operating margin (TTM), FY15 Q4: 16.0% Operating margin (TTM), FY16 Q4: 16.9% Operating margin (TTM), FY17 Q4: 13.9% Operating margin (TTM), FY18 Q4: 16.3% Operating margin (TTM), FY19 Q4: 14.1% Operating margin (TTM), FY20 Q4: 7.4% Operating margin (TTM), FY21 Q4: -3.7% Operating margin (TTM), FY22 Q4: -12.1% Operating margin (TTM), FY23 Q4: -2915.3% Operating margin (TTM), FY24 Q4: -436.7% Operating margin (TTM), FY25 Q4: -115.5% -115.5%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY14 Q4 30.2%
FY15 Q4 16.0%
FY16 Q4 16.9%
FY17 Q4 13.9%
FY18 Q4 16.3%
FY19 Q4 14.1%
FY20 Q4 7.4%
FY21 Q4 -3.7%
FY22 Q4 -12.1%
FY23 Q4 -2915.3%
FY24 Q4 -436.7%
FY25 Q4 -115.5%
FCF margin (TTM) Nebius Group N.V.
-5000% 0% 5000% 10000% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 FCF margin (TTM), FY14 Q4: 11.6% FCF margin (TTM), FY15 Q4: 10.9% FCF margin (TTM), FY16 Q4: 20.8% FCF margin (TTM), FY17 Q4: 12.1% FCF margin (TTM), FY18 Q4: -0.1% FCF margin (TTM), FY19 Q4: 13.6% FCF margin (TTM), FY20 Q4: 3.7% FCF margin (TTM), FY21 Q4: -9.9% FCF margin (TTM), FY22 Q4: 52.2% FCF margin (TTM), FY23 Q4: 7621.4% FCF margin (TTM), FY24 Q4: -614.1% FCF margin (TTM), FY25 Q4: -694.8% -694.8%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY14 Q4 11.6%
FY15 Q4 10.9%
FY16 Q4 20.8%
FY17 Q4 12.1%
FY18 Q4 -0.1%
FY19 Q4 13.6%
FY20 Q4 3.7%
FY21 Q4 -9.9%
FY22 Q4 52.2%
FY23 Q4 7621.4%
FY24 Q4 -614.1%
FY25 Q4 -694.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 622 947 1,207 902 820 1,252 1,633 1,838 2,224 2,956 4,794 1,308 10 92 530
Gross profit 476 710 883 648 590 926 1,217 1,321 1,517 1,795 2,453 1,280 −10 48 364
EBITDA 275 404 502 348 239 370 421 475 501 459 146 −131 −256 −323 −194
Operating income 219 311 392 272 132 212 226 300 313 220 −179 −158 −286 −400 −612
Net income 179 271 412 303 133 112 152 685 163 345 −197 746 241 −641 83
Diluted EPS $0.55 $0.81 $1.23 $0.93 $0.41 $0.34 $0.46 $2.04 $0.48 $0.98 −$0.54 $1.59 $0.65 −$2.28 $0.33
Growth (year on year)
Revenue — +52.2% +27.4% −25.2% −9.1% +52.6% +30.5% +12.5% +21.0% +32.9% +62.2% −72.7% −99.3% +833.7% +479.0%
EBITDA — +46.7% +24.2% −30.7% −31.4% +55.2% +13.8% +12.7% +5.4% −8.2% −68.3% −189.5% — — —
Operating income — +42.4% +26.0% −30.5% −51.7% +60.9% +6.8% +32.7% +4.3% −29.8% −181.2% — — — —
Net income — +51.0% +52.1% −26.5% −56.1% −15.7% +36.1% +349.5% −76.3% +112.4% −157.1% — −67.6% −365.8% —
Diluted EPS — +47.3% +51.9% −24.4% −55.9% −17.1% +35.3% +343.5% −76.5% +104.2% −155.1% — −59.1% −450.8% —
Margins
Gross margin 76.5% 75.0% 73.1% 71.8% 71.9% 74.0% 74.5% 71.9% 68.2% 60.7% 51.2% 97.8% −100.0% 52.2% 68.6%
EBITDA margin 44.2% 42.6% 41.6% 38.5% 29.1% 29.6% 25.8% 25.8% 22.5% 15.5% 3.0% −10.0% <−999% −352.5% −36.6%
Operating margin 35.1% 32.9% 32.5% 30.2% 16.0% 16.9% 13.9% 16.3% 14.1% 7.4% −3.7% −12.1% <−999% −436.7% −115.5%
Net margin 28.8% 28.6% 34.1% 33.5% 16.2% 8.9% 9.3% 37.3% 7.3% 11.7% −4.1% 57.0% >999% −701.0% 15.6%
Free-cash-flow margin 11.1% 26.2% 24.7% 11.6% 10.9% 20.8% 12.1% −0.1% 13.6% 3.7% −9.9% 52.2% >999% −614.1% −694.8%
Cash flow
Cash from operations 242 380 449 276 269 420 413 406 563 441 125 697 830 246 385
Capital spending 173 131 151 172 179 159 215 408 261 332 601 15 83 808 4,066
Free cash flow 69 248 299 104 90 261 198 −2 302 109 −476 682 747 −562 −3,681
Stock-based pay 9 12 23 22 37 56 73 94 125 213 280 10 29 55 83
Free cash flow after stock pay 60 236 275 83 52 205 125 −96 177 −104 −756 673 718 −616 −3,764
Balance sheet
Cash 195 227 594 242 400 490 614 873 764 1,782 1,127 289 111 2,435 3,678
Total debt 0 0 502 468 376 309 — 0 0 1,127 1,155 728 1,578 — 4,837
Net debt (negative = net cash) −195 −227 −92 226 −24 −181 −614 −873 −764 −655 28 439 1,467 −2,435 1,159
Diluted shares 328m 336m 335m 326m 324m 326m 331m 335m 335m 353m 362m 368m 371m 281m 248m
Returned to shareholders
Buybacks — — 260 150 — — — 145 18 138 94 — — 10 —
Total returned — — 260 150 — — — 145 18 138 94 — — 10 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 6 checks passed · December 31, 2025
What it owns · $12.4bn
Short-term assets $4.7bnLonger-term assets $7.7bn
What it owes, and who funded it · $12.4bn
Short-term liabilities $1.5bnLonger-term liabilities $6.3bnShareholders' equity $4.6bn
  • Short-term assets cover short-term liabilities $4.7bn of assets due within a year against $1.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $4.7bn short-term assets against $6.3bn of longer-dated liabilities.
  • More cash than debt $3.7bn of cash against $4.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 90% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $385m of operating cash flow against $4.1bn of debt.
  • Operating profit covers interest at least five times over Operating income of −$612m against $62m of interest.

From Nebius Group N.V.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2024 Q4 TTM
Buybacks (TTM)
$10M
Returned to shareholders
-2%
of free cash flow
Buybacks, last 3 fiscal years
$241M
Diluted share count
−11.9%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
R&D spending
33.5%
of revenue
Sales & admin spending
71.7%
of revenue
Days sales outstanding
496 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in internet services & infrastructure
Last 12 months unless stated NBIS FUFU CORZ FVRR RIOT FSLY Median
Revenue, last 12 months $530m $478m $440m $431m $675m $687m $242m
Revenue growth, last 12 months 479.0% 3.1% 26.4% 10.1% 24.5% 20.4% 8.3%
Revenue growth, 3-year average −24.0% — −6.1% — 38.0% 13.6% 7.6%
Revenue growth, latest quarter — — 108.8% — 13.9% 23.3% 5.5%
Gross margin 68.6% 6.1% 28.3% 81.6% 62.4% 61.5% 49.5%
Operating margin −115.5% −5.0% −127.4% −0.3% −199.2% −12.0% −56.0%
Operating margin, 3-year average −35.1% — −62.2% −17.7% −58.8% −24.9% −25.3%
Net margin 15.6% −6.5% −324.9% 4.9% −196.3% −11.8% −55.8%
Cash from operations / revenue 72.6% −23.6% 118.2% 24.3% −73.0% 17.4% −10.4%
Free-cash-flow margin −694.8% −29.5% −217.5% 24.1% −115.1% 7.4% −25.9%
Free-cash-flow margin, 3-year average −230.9% — −97.0% 7.3% −114.1% 3.4% −17.4%
Stock pay / revenue 15.7% 0.1% 21.3% 11.9% 20.9% 19.7% 11.9%
Change in share count −11.9% 2.5% −0.4% −1.8% 44.8% 7.1% 5.2%

Median of all 34 companies we cover in internet services & infrastructure. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

34 internet services & infrastructure companies
Measure Company Peer median Rank
Revenue growth Growth 479.0% 10.1% 1 of 34
Change in growth rate Growth -354.7pp -0.6pp 34 of 34
Gross margin Profitability 68.6% 61.5% 6 of 16
Operating margin Profitability -115.5% -49.3% 20 of 33
Net margin Profitability 15.6% -47.1% 5 of 34
Free-cash-flow margin Cash generation -694.8% 16.2% 17 of 17
Stock pay as % of revenue Cash generation 15.7% 12.4% 20 of 32
Long-term debt as % of assets Balance sheet 33.0% 20.2% 16 of 25
Change in share count Balance sheet -11.9% 5.2% 1 of 26
Days sales outstanding Balance sheet 496 days 48 days 14 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$42.8B
Institutions reporting
1,044
Shares held vs prior quarter
▲ 32.3%
Positions opened / closed
387 / 60

Top buyers and sellers, Q2 2026: 675 institutions bought and 331 sold ; the biggest buyer was Goldman Sachs Group Inc (+6.7M shares) and the biggest seller Fred Alger Management, LLC (−3.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $3.2B 11.5M 7.4% ▲ 16.0%
Goldman Sachs Group Inc $2.7B 9.8M 6.3% ▲ 217.8%
Invesco Ltd. $1.9B 6.9M 4.5% ▲ 293.5%
Orbis Allan Gray Ltd $1.8B 6.5M 4.2% ▼ 21.9%
Bank Of America Corp $1.7B 6.1M 4.0% ▲ 309.6%
Value Aligned Research Advisors, LLC $1.7B 6.1M 3.9% ▲ 5.0%
Fred Alger Management, LLC $1.6B 5.7M 3.7% ▼ 40.3%
UBS Group AG $1.4B 5.2M 3.4% ▲ 68.1%
Situational Awareness LP $1.2B 4.5M 2.9% New
Lone Pine Capital LLC $1.2B 4.3M 2.7% New
State Street Corp $1.1B 4.1M 2.6% ▲ 16.2%
Jennison Associates LLC $1.1B 4.0M 2.6% ▲ 134.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Nebius Group N.V.'s complete shareholder register. Values are as reported by the filers ; 23 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $330,440 11 trades by 1 insider, last 12 months Insider sales History → $423M 126 trades by 10 insiders · 87% under pre-set plans
Net ▼ $422M net selling
Insider Date Trade Shares Price Value
Boynton John Wilson Iv Director October 29, 2026 Sell pre-set plan 333 $173.07 $57,632
Grimme Arne Director October 29, 2026 Buy pre-set plan 148 $169.42 $25,074
Grimme Arne Director October 28, 2026 Buy pre-set plan 148 $169.84 $25,136
Grimme Arne Director October 27, 2026 Buy pre-set plan 205 $159.04 $32,603
Grimme Arne Director October 26, 2026 Buy pre-set plan 208 $153.96 $32,024
Grimme Arne Director October 23, 2026 Buy pre-set plan 205 $158.98 $32,591
Grimme Arne Director October 22, 2026 Buy pre-set plan 357 $161.97 $57,823
Grimme Arne Director October 21, 2026 Buy pre-set plan 148 $167.94 $24,855
Grimme Arne Director October 20, 2026 Buy pre-set plan 151 $164.62 $24,858
Grimme Arne Director October 19, 2026 Buy pre-set plan 148 $169.99 $25,159
Grimme Arne Director October 16, 2026 Buy pre-set plan 148 $169.99 $25,159
Grimme Arne Director October 15, 2026 Buy pre-set plan 148 $169.99 $25,159

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Nebius Group N.V. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Nebius Group N.V. in brief

What does Nebius Group N.V. do?
Nebius Group N.V. is a US-listed company in the internet services & infrastructure industry. Its financial year ends in December.
What is Nebius Group N.V.'s stock ticker?
Nebius Group N.V. trades under the ticker NBIS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Nebius Group N.V.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Nebius Group N.V. reported revenue of $530M, 479.0% higher than a year earlier, according to its SEC filings.
What is Nebius Group N.V.'s free cash flow?
Nebius Group N.V.'s free-cash-flow margin is -694.8% of revenue over the trailing twelve months, ranking 17 of the 17 internet services & infrastructure companies we cover.
Who are Nebius Group N.V.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Goldman Sachs Group Inc and Invesco Ltd. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Nebius Group N.V. buying back stock, and does it pay a dividend?
Nebius Group N.V. spent $10M on share repurchases over the trailing twelve months, and its diluted share count fell 11.9% over the year.
What is Nebius Group N.V.'s market cap?
On December 31, 2025, Nebius Group N.V.'s market capitalisation was about $20.7B, with a price-to-earnings ratio of 251.3 and net debt of $1.2B. Market figures come from third-party market data and may be delayed.
How much debt does Nebius Group N.V. have?
Nebius Group N.V.'s debt-to-equity ratio is 89.8%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Nebius Group N.V.'s competitors?
In our Internet Services & Infrastructure peer group, the companies closest to Nebius Group N.V. are Bitfufu Inc., Core Scientific, Inc., Fiverr International Ltd., Riot Platforms, Inc. and Fastly, Inc. The side-by-side comparison below sets their revenue, margins and growth against Nebius Group N.V.'s.
Are insiders buying or selling Nebius Group N.V. stock?
Over the last 12 months, Nebius Group N.V.'s directors and officers reported 11 open-market purchases and 126 sales on Form 4. The insider trading page charts every trade.
When is Nebius Group N.V.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Nebius Group N.V. announces its own schedule.