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Nebius Group N.V.

NBIS
31
Internet Content & Information · Communication Services
Price
$218.16
+1.24 (+0.57%)
Market Cap
$52.36B
Exchange
NASDAQ
Winston Score
31
Winston is serious
Below-average fundamentals — multiple weak pillars.

Share count falling — buybacks

30.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 362.0M (2021) → 253.0M (2025)

Nebius Group N.V., operates as a technology company that engages in building full-stack infrastructure to service the global AI industry. Its businesses include Nebius, an AI-centric cloud platform built for intensive AI workloads. Nebius builds full-stack infrastructure for AI, including large-scale GPU clusters, cloud platforms, and tools and services for developers. The company's businesses also comprise Toloka AI, a data partner for various stages of generative AI development; TripleTen, an

Winston Score History

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1 trades / 12mo

1 Congressional buy and 0 sells on NBIS in the last 12 months.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+621.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+600.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$177M/ year

Rising (+37% vs prior year)

33.5% of revenue

2.8x the sector average (12%)

Investing heavily in future products and technology

Insider Activity

15.8%ownership

Flat

Insiders holding steady — not selling despite ability to

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

$10.9B cash & investments at current burn rate

Revenue accelerating

Nebius Group N.V. grew revenue 622% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin
20.9%
Thin — 20.9% gross margin
Operating Margin
-32.1%
Losing money on operations — -32.1%
ROCE
-0.8%
Weak — -0.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
+490.8%
Fast-growing sales (490.8% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion
360%
Turns 360% of profit into real cash
FCF Margin
-281.6%
Burning cash (-281.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
1.17
Elevated debt (1.17)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
64.4x
Expensive — P/E 64.4

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward
-128.4
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.
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