NASDAQ · NBIS

Nebius Group N.V.

Technology · Software - Application

$213.38▲ 1.92% ($4.02)today

As of 1:37 PM ET

52-week

$73.52$299.86

Market cap

$51.21B

P/E

971.25

EPS (TTM)

$0.22

Next earnings

Nov 10, 2026

What the market price implies · Reverse DCF

To support a price of $213.38, this model requires revenue to grow by 66.94%/yr over the next 10 years, compounded annually.

Historical revenue grew by -42.24%/yr over the past 4 years. The required annual growth rate is 109.18 percentage points higher.

Selected forecast · Base scenario

19.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 40%

Market-implied · Base operating assumptions + edited margins

66.94%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$213.38

Estimated value / share

$1.83

Base scenario

This estimate is 99.14% below the price used.

USD · TTM ending 2026-06-30

Latest quarterly growth differs materially from the latest annual pace. It remains an observed growth input; review whether acceleration or a change in the business explains it.

Reported operating earnings and the comparable cash-flow estimate differ substantially; the model retains the reported-margin anchor.

Year 1 growth 40% · Ending margin 0% · Discount rate 11.6%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 17, 2026, 5:37 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 17, 2026, 5:23 PM UTC · cache

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveModerate confidence

1Y Price: 130.06%Revenue (TTM): 460.89%FCF (TTM): -716.97%

What changed

The stock rose 130.06% over the last year. Revenue grew 460.89% over the trailing twelve months. Operating margin moved from -197.43% to -49.34%. Free cash flow declined 716.97% over the trailing twelve months.

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum. The operating data is doing enough work that the move does not need an overvaluation story to explain it.

What would invalidate this read

Operating margin is at -49.34%. Revenue grew 460.89% — this thesis depends on that trajectory holding. Despite the price move, free cash flow fell 716.97%, which is worth watching as a leading indicator of future pressure. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.

Performance

Return analysis

Company profile

Nebius Group N.V. is a technology company dedicated to developing comprehensive infrastructure to serve the global artificial intelligence industry.

CEOArkady Volozh

SectorTechnology

IndustrySoftware - Application

Employees1,543

IPO dateMay 24, 2011

https://nebius.com/company

Market multiples

Forward P/E—

EV/EBITDA45.43

Enterprise value$22.48B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth454.04%

Gross margin (FY2025)68.63%▲31.1ppvs FY2024

Operating margin (FY2025)-112.53%▲262.5ppvs FY2024

ROE0.87%▼1.7ppvs FY2025

Analyst consensus

RatingBuy

Target price$262.22▲22.89%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 10, 2026

Q4 FY26 · EPS est -$0.67 · Revenue est $907.61M

View

NASDAQ · NBIS

Nebius Group N.V.

Technology · Software - Application

$213.38▲ 1.92% ($4.02)today

As of 1:37 PM ET

52-week

$73.52$299.86

Market cap

$51.21B

P/E

971.25

EPS (TTM)

$0.22

Next earnings

Nov 10, 2026

What the market price implies · Reverse DCF

To support a price of $213.38, this model requires revenue to grow by 66.94%/yr over the next 10 years, compounded annually.

Historical revenue grew by -42.24%/yr over the past 4 years. The required annual growth rate is 109.18 percentage points higher.

Selected forecast · Base scenario

19.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 40%

Market-implied · Base operating assumptions + edited margins

66.94%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$213.38

Estimated value / share

$1.83

Base scenario

This estimate is 99.14% below the price used.

USD · TTM ending 2026-06-30

Latest quarterly growth differs materially from the latest annual pace. It remains an observed growth input; review whether acceleration or a change in the business explains it.

Reported operating earnings and the comparable cash-flow estimate differ substantially; the model retains the reported-margin anchor.

Year 1 growth 40% · Ending margin 0% · Discount rate 11.6%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 17, 2026, 5:37 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 17, 2026, 5:23 PM UTC · cache

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveModerate confidence

1Y Price: 130.06%Revenue (TTM): 460.89%FCF (TTM): -716.97%

What changed

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum. The operating data is doing enough work that the move does not need an overvaluation story to explain it.

What would invalidate this read

Performance

Return analysis

Company profile

Nebius Group N.V. is a technology company dedicated to developing comprehensive infrastructure to serve the global artificial intelligence industry.

CEOArkady Volozh

SectorTechnology

IndustrySoftware - Application

Employees1,543

IPO dateMay 24, 2011

https://nebius.com/company

Market multiples

Forward P/E—

EV/EBITDA45.43

Enterprise value$22.48B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth454.04%

Gross margin (FY2025)68.63%▲31.1ppvs FY2024

Operating margin (FY2025)-112.53%▲262.5ppvs FY2024

ROE0.87%▼1.7ppvs FY2025

Analyst consensus

RatingBuy

Target price$262.22▲22.89%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 10, 2026

Q4 FY26 · EPS est -$0.67 · Revenue est $907.61M

View