Nebius Group N.V. (NBIS) Key Metrics
NBIS valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $44.98B
- Enterprise value
- $63.73B
- P/E (TTM)
- 129.3 10-yr median 71.6
- Forward P/E
- 46.1
- PEG ratio
- 0.51
- Price / sales
- 33.2 10-yr median 6.4
- Price / book
- 6.0 10-yr median 4.9
- EV / EBITDA
- 55.1 10-yr median 29.2
- Dividend yield
- —
- Beta
- 1.46
NBIS key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNBIS valuation Price multiples at each fiscal year-end price.
NBIS returns How much profit the business earns on the capital it uses.
NBIS per-share figures Results divided by the shares outstanding at year-end.
NBIS financial health Debt, liquidity and how easily interest is covered.
NBIS efficiency & capital use Working capital cycle and where the cash goes.
NBIS valuation history
NBIS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NBIS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NBIS cash returned to shareholders
NBIS price vs earnings per share
NBIS key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $21.18B | $7.78B | — | — | $21.90B | $24.56B | $14.22B | $8.94B | $12.31B | $6.56B |
| Enterprise value | $22.48B | $5.38B | — | — | $22.35B | $22.82B | $13.15B | $8.23B | $11.48B | $5.84B |
| P/E ratio | 208.3 | — | — | — | — | 73.6 | 69.5 | 13.6 | 77.3 | 59.4 |
| Price / sales | 40.0 | 66.2 | — | — | 4.6 | 8.3 | 5.0 | 4.9 | 7.6 | 5.3 |
| Price / book | 4.6 | 2.4 | — | — | 6.3 | 5.6 | 4.5 | 3.5 | 8.6 | 5.2 |
| Price / free cash flow | — | — | — | — | — | 226.9 | 37.0 | — | 62.4 | 25.7 |
| Price / operating cash flow | 55.0 | 31.7 | — | — | 175.7 | 56.1 | 19.9 | 22.0 | 29.9 | 15.9 |
| EV / sales | 42.4 | 45.8 | — | — | 4.7 | 7.7 | 4.7 | 4.5 | 7.0 | 4.7 |
| EV / EBITDA | 45.4 | — | — | — | 92.8 | 53.8 | 21.1 | 17.8 | 29.2 | 17.1 |
| EV / free cash flow | — | — | — | — | — | 210.8 | 34.2 | — | 58.2 | 22.8 |
| Earnings yield | 0.5% | −8.2% | — | — | −0.9% | 1.4% | 1.4% | 7.4% | 1.3% | 1.7% |
| Free cash flow yield | −17.4% | −7.2% | — | — | −2.2% | 0.4% | 2.7% | −0.0% | 1.6% | 3.9% |
| Shareholder yield (dividends + buybacks) | — | 0.1% | — | — | 0.4% | 0.6% | 0.2% | 1.6% | — | — |
| Share price at fiscal year-end | $83.70 | $27.70 | — | — | $60.50 | $69.58 | $43.49 | $27.35 | $32.75 | $20.13 |
| Per share | ||||||||||
| Revenue per share | $2.09 | $0.42 | $0.06 | $0.03 | $13.15 | $8.35 | $8.64 | $5.60 | $4.33 | $3.79 |
| Earnings per share | $0.40 | −$2.28 | $0.65 | $1.81 | −$0.54 | $0.94 | $0.63 | $2.02 | $0.42 | $0.34 |
| Operating cash flow per share | $1.52 | $0.87 | $2.24 | $1.69 | $0.34 | $1.24 | $2.19 | $1.24 | $1.10 | $1.27 |
| Free cash flow per share | −$14.55 | −$2.00 | $2.01 | $1.65 | −$1.31 | $0.31 | $1.18 | −$0.00 | $0.52 | $0.78 |
| Cash per share | $14.54 | $8.72 | $0.33 | $2.73 | $3.97 | $9.07 | $4.36 | $3.03 | $3.03 | $3.16 |
| Book value per share | $18.23 | $11.58 | $8.88 | $10.28 | $9.56 | $12.37 | $9.62 | $7.87 | $3.82 | $3.86 |
| Tangible book value per share | $18.15 | $11.56 | $4.52 | $4.03 | $4.37 | $7.57 | $6.53 | $5.05 | $3.16 | $3.16 |
| Capex per share | $16.07 | $2.87 | $0.22 | $0.04 | $1.65 | $0.93 | $1.01 | $1.25 | $0.57 | $0.48 |
| Debt per share | $19.65 | $0.18 | $1.58 | $3.37 | $5.21 | $4.13 | $1.08 | $0.84 | $0.82 | $0.94 |
| Shares outstanding | 253.0M | 281.0M | 371.0M | 413.0M | 362.0M | 353.0M | 327.0M | 327.0M | 376.0M | 326.0M |
| Change in shares outstanding | −9.9% | −24.3% | −10.2% | +14.1% | +2.5% | +8.0% | 0.0% | −13.0% | +15.3% | +0.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 2.6% | −19.6% | 6.4% | 19.3% | −5.0% | 8.9% | 7.2% | 32.9% | 11.8% | 10.0% |
| Return on invested capital (ROIC) | −15.5% | −15.1% | −6.3% | −3.0% | −4.3% | 5.8% | 10.1% | 20.5% | 25.1% | 19.8% |
| Return on assets (ROA) | 1.3% | −10.4% | 2.8% | 9.8% | −2.8% | 5.7% | 4.9% | 22.0% | 7.7% | 6.5% |
| Return on tangible assets | 0.8% | −18.1% | 3.4% | 13.1% | −3.9% | 6.4% | 5.5% | 23.5% | 7.9% | 6.8% |
| Free cash flow margin | −694.8% | −478.4% | — | — | −10.0% | 3.7% | 13.6% | −0.1% | 12.1% | 20.7% |
| Income quality (OCF / net income) | 3.78 | — | 3.44 | 0.93 | — | 1.31 | 3.50 | 0.62 | 2.59 | 3.74 |
| Financial health | ||||||||||
| Total debt | $4.97B | $49.7M | $584.8M | $1.39B | $1.89B | $1.46B | $353.3M | $274.5M | $309.2M | $306.2M |
| Cash & short-term investments | $3.68B | $2.45B | $121.2M | $1.13B | $1.44B | $3.20B | $1.42B | $990.0M | $1.14B | $1.03B |
| Net debt | $1.29B | −$2.40B | $463.6M | $265.9M | $450.1M | −$1.74B | −$1.07B | −$715.5M | −$830.0M | −$723.2M |
| Debt / equity | 1.08 | 0.02 | 0.18 | 0.33 | 0.55 | 0.33 | 0.11 | 0.11 | 0.22 | 0.24 |
| Debt / assets | 0.40 | 0.01 | 0.07 | 0.17 | 0.27 | 0.21 | 0.08 | 0.07 | 0.14 | 0.16 |
| Net debt / EBITDA | 2.62 | — | — | — | 1.87 | −4.11 | −1.72 | −1.55 | −2.11 | −2.12 |
| Current ratio | 3.08 | 9.60 | 0.89 | 1.28 | 1.80 | 4.62 | 2.58 | 3.09 | 2.27 | 5.13 |
| Quick ratio | 3.08 | 9.60 | 0.83 | 1.13 | 1.71 | 4.54 | 2.57 | 3.08 | 2.27 | 5.13 |
| Interest coverage | -10.3 | — | -2.6 | -3.3 | -3.5 | 6.4 | 395.7 | 16.6 | 14.8 | 11.6 |
| Working capital | $3.18B | $2.27B | −$416.9M | $699.2M | $1.19B | $3.06B | $1.19B | $894.0M | $782.6M | $985.6M |
| Invested capital | $5.91B | $853.8M | $3.76B | $4.51B | $3.91B | $2.62B | $2.07B | $1.86B | $606.2M | $535.7M |
| Tangible asset value | $4.59B | $3.25B | $1.68B | $1.96B | $1.78B | $2.98B | $2.69B | $2.16B | $1.36B | $1.06B |
| Net current asset value | −$3.13B | $2.24B | −$2.01B | −$518.2M | −$571.2M | $1.65B | $945.1M | $682.4M | $743.2M | $644.3M |
| Graham number | $12.84 | — | $11.40 | $20.43 | — | $16.21 | $11.63 | $18.90 | $6.04 | $5.43 |
| Graham net-net per share | −$13.90 | $7.79 | −$14.05 | −$3.28 | −$2.96 | $3.88 | $2.28 | $1.75 | $1.73 | $1.76 |
| Capital allocation | ||||||||||
| Share buybacks (net) | — | $10.0M | $0 | $0 | $93.4M | $136.6M | $22.9M | $145.1M | — | — |
| Dividends + buybacks / free cash flow | — | — | 0.0% | 0.0% | — | 126.2% | 6.0% | — | — | — |
| Capex / revenue | 767.5% | 687.4% | 399.0% | 108.1% | 12.6% | 11.2% | 11.7% | 22.2% | 13.2% | 12.7% |
| Capex / operating cash flow | 1,056.7% | 328.9% | 10.1% | 2.1% | 480.2% | 75.3% | 46.3% | 100.4% | 52.1% | 38.1% |
| Capex / depreciation | 8.61 | 9.36 | 2.27 | 0.49 | 1.07 | 0.81 | 0.82 | 1.59 | 0.81 | 1.00 |
| Stock-based compensation / revenue | 15.7% | 48.2% | 150.2% | 71.1% | 5.9% | 7.2% | 5.6% | 5.1% | 4.5% | 4.5% |
| R&D / revenue | 33.5% | 110.4% | 537.3% | 431.9% | 13.6% | 16.6% | 16.7% | 17.7% | 20.1% | 20.9% |
| SG&A / revenue | 71.7% | 236.4% | 14,463.4% | 17,110.8% | 34.6% | 28.7% | — | — | — | — |
| Efficiency | ||||||||||
| Days sales outstanding | 309.4 | 86.8 | 12,525.7 | 31,483.7 | 54.5 | 57.6 | 45.7 | 51.8 | 43.9 | 41.2 |
| Days of inventory on hand | — | — | 3,542.3 | 3,260.3 | 15.2 | 12.3 | 3.4 | 1.6 | 0.4 | -0.2 |
| Days payables outstanding | 1,211.9 | 115.4 | 5,720.8 | 10,992.1 | 86.6 | 112.5 | 113.3 | 131.6 | 126.6 | 119.4 |
| Cash conversion cycle (days) | -902.6 | -28.5 | 10,347.2 | 23,751.9 | -16.9 | -42.7 | -64.1 | -78.2 | -82.4 | -78.4 |
| Receivables turnover | 1.18 | 4.20 | 0.03 | 0.01 | 6.70 | 6.34 | 7.99 | 7.05 | 8.31 | 8.86 |
| Payables turnover | 0.30 | 3.16 | 0.06 | 0.03 | 4.22 | 3.24 | 3.22 | 2.77 | 2.88 | 3.06 |
| Inventory turnover | — | — | 0.10 | 0.11 | 24.06 | 29.79 | 106.71 | 228.57 | 1,014.30 | — |
| Asset turnover | 0.07 | 0.02 | 0.00 | 0.00 | 0.69 | 0.51 | 0.67 | 0.61 | 0.79 | 0.73 |
| Average receivables | $449.1M | $27.9M | $717.2M | $1.16B | $710.5M | $464.7M | $353.8M | $259.8M | $195.9M | $139.4M |
| Average payables | $551.9M | $23.2M | $500.0M | $855.3M | $551.4M | $356.6M | $278.9M | $185.7M | $143.9M | $105.0M |
| Average inventory | — | — | $309.6M | $253.7M | $96.6M | $38.8M | $8.4M | $2.3M | $408,982 | −$161,533 |
| Intangibles / total assets | 0.2% | 0.1% | 18.5% | 31.2% | 27.2% | 24.5% | 21.5% | 24.8% | 11.0% | 12.2% |
Computed from NBIS's annual financial statements (latest annual report filed April 30, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NBIS valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Nebius traded at 208.3 times earnings, against a 10-year median of 71.6. Based on the latest twelve months, the trailing P/E is 129.3 and the forward P/E is 46.1. Nebius earned a return on equity of 2.6% and a return on invested capital of −15.5% in fiscal 2025. It ended the year with $5.0 billion of debt and $3.7 billion in cash and short-term investments, net debt of $1.3 billion. The share count fell 22.4% from 326.0M to 253.0M over 9 years.
See the NBIS income statement, the NBIS chart for price history, or the NBIS stock overview for the latest quote and news.
NBIS key metrics FAQ
What is Nebius's P/E ratio?
Nebius's trailing P/E ratio is 129.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 46.1. At the end of fiscal 2025 it was 208.3, compared with a 10-year median of 71.6.
What is Nebius's EV/EBITDA?
Nebius's enterprise value was 45.4 times EBITDA at the end of fiscal 2025 (enterprise value $22.5 billion, EBITDA $494.8 million); the current EV/EBITDA is 55.1.
What is Nebius's return on equity?
Nebius's return on equity (ROE) was 2.6% in fiscal 2025: net income of $101.7 million on average shareholders' equity of $3.9 billion.
What is Nebius's ROIC?
Nebius's return on invested capital was −15.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Nebius have?
Nebius had total debt of $5.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.08 and $1.3 billion of net debt (2.62 times EBITDA).
What is Nebius's free cash flow yield?
Nebius generated -$3.7 billion of free cash flow in fiscal 2025, a free cash flow yield of −17.4% on its market value at year-end ($21.2 billion).
What is Nebius's current ratio?
Nebius's current ratio was 3.08 at the end of fiscal 2025: current assets were 3.08 times current liabilities.