Nebius Group N.V. (NBIS) AI Stock Analysis

Nebius Group N.V. builds full-stack infrastructure for the artificial intelligence industry. Its core business operates large-scale GPU clusters and an AI-focused cloud platform with tools for developers and enterprises to train, fine-tune, and run AI models. The company maintains a strategic alliance with NVIDIA to support AI cloud capacity expansion. Nebius Group also owns TripleTen, an education technology platform for tech career training, and Avride, which creates autonomous driving technology for self-driving cars and delivery robots. Headquartered in Schiphol, the Netherlands, it serves customers in the United States, the United Kingdom, and international markets.

Nebius Group experienced significant structural changes over recent fiscal periods. Revenue fell 99.7% from $4.76B in FY2021 to $13.5M in FY2022 following the separation from its former Russian businesses, before rebounding to $20.9M in FY2023, $117.5M in FY2024, and $529.8M in FY2025. Gross margin expanded to 68.6% in FY2025 from 37.5% in FY2024, while operating margin remained negative at -112.5%. Net income reached $101.7M in FY2025, producing a net margin of 19.2% and EPS of -$2.16. For the latest trailing twelve months ended June 30, 2026, revenue stood at $1.36B with quarterly revenue growth of 454.0%, an operating margin of -0.2%, and EPS of $1.28.

As of June 30, 2026, Nebius Group held $8.04B in cash and short-term investments against total debt of $10.06B, resulting in net debt of $2.01B. Total assets stood at $27.96B and shareholders' equity was $10.34B. The balance sheet maintained a current ratio of 4.03 and a debt-to-equity ratio of 0.97. In FY2025, operating cash flow was $384.8M, but capital expenditures of $4.07B drove free cash flow to -$3.68B. Over five years, the company reduced its share count by 22.8%.

Nebius Group trades at an enterprise value of $63.73B and a market capitalization of $44.98B. Its trailing P/E ratio is 129.3x and forward P/E is 46.1x, compared to the median of its Nasdaq-100 Communication Services peers of 17.1x and 20.2x. The enterprise value-to-sales multiple is 47.0x and price-to-sales is 33.2x, above the peer medians of 7.0x for price-to-sales and 12.5x for EV/EBITDA. The stock returned 34.5% over the past one year, outperforming the SPY return of 16.8%, and advanced 117.2% over five years versus 83.0% for SPY.

Consensus ratings include 13 Strong Buy, 2 Buy, 5 Hold, 1 Sell, and 1 Strong Sell recommendations. The mean price target is $283.60, representing an upside of 71.4% from the last close of $165.47. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $3.34B and EPS of -$2.11. For the following fiscal year, 10 analysts expect revenue to rise 268.0% to $12.29B with EPS of -$6.16. Nebius Group beat EPS estimates in 3 of the last 4 quarters, with its next earnings scheduled for November 10, 2026.

This page is an AI-written research summary of Nebius Group N.V. (NBIS). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: NBIS income statement, NBIS balance sheet, NBIS key metrics, NBIS analyst forecast, NBIS chart. See the NBIS stock overview for the latest quote and news.