Gross margin
68.6% Fiscal year 2025
Rank 78 of 100: higher than 78% of 153 peers (All). strong.
Rank 71 of 100: higher than 71% of 57 peers (Sector). strong.
Median Technology: 56.1%
Share of revenue left after the direct cost of the products sold.
About the company
Nebius Group, based in Amsterdam, emerged from the international business of Yandex. Its core is a cloud for artificial intelligence with its own data centers in Europe and the US. It also holds stakes such as the data service Toloka and the learning platform TripleTen. As of Oct 16, 2026
Fact sheet (from the annual report) IT services and data processing · Amsterdam
Nebius Group is headquartered in Amsterdam and listed on the Nasdaq. Its core is a cloud for artificial intelligence with computing clusters of graphics processors, storage, managed services and developer tools. The company designs servers and racks itself and works with chipmakers such as NVIDIA. For data centers such as those in Finland and Missouri, the company owns the land and designs the facilities itself. Customers range from large corporations and software companies to artificial intelligence firms and startups, research labs and individual developers. The group also includes Avride, a developer of autonomous vehicles and delivery robots, and the learning platform TripleTen.
Automatically summarized from SEC annual report (20-F, filed Apr 30, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 17, 2026
Price performance at a glance
Last 30 trading days
- Today +11.2%
- 7 days −0.6%
- 30 days −28.2%
- 1 year +35.9%
Day range (last trading day)
−7.1%Price at 92% of the range+0.6%
52-week range
−56.9%Price at 43% of the range+75.9%
- Distance from the all-time high
- −43.2%
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Gap with volume · Analysis method
This method currently detects no pattern for NBIS. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What does the pattern show?
What is this? After strong news, usually earnings, the price opened above the previous day’s high and closed much higher on heavy volume. Such moves often continue for a few more days.
This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice
Fundamental analysis
SEC filing (10-K, 10-Q)Required reports of listed companies to the US Securities and Exchange Commission (SEC): 10-K is the annual report, 10-Q the quarterly report, 20-F the annual report of foreign companies. We show the figures of the first filing.Example: 10-K for the fiscal year ending Sep 27, 2025, filed on Oct 31, 2025.More in the Academy: Lesson revenue, profit and marginNebius Group · Sector Technology · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Apr 30, 2026.
Quality checks
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
Quality
Profitability, consistency, balance sheet · 2 without data
3 of 6 criteria met
Growth
Revenue and earnings per share · 6 without data
1 of 1 criteria met
Dividend
Level, consistency, coverage · 7 without data
no criteria with data
Financial strength
Piotroski, debt, liquidity · 2 without data
3 of 4 criteria met
Quality 3 of 6 met · 2 without data
- met: Gross margin above 40% 68.6%
- not met: Operating margin above 15% −115.5%
- met: Net margin above 10% 15.6%
- not met: Return on equity above 15% 1.8%
- not met: Free cash flow margin above 10% −694.8%
- no data: Profit in each of the last 5 fiscal years fewer than 5 fiscal years reported
- no data: Free cash flow positive in each of the last 3 fiscal years not stated in the SEC filings
- met: Equity ratio above 30% 37.0%
Operating margin
−115.5% Fiscal year 2025
Rank 8 of 100: higher than 8% of 192 peers (All). weak.
Rank 13 of 100: higher than 13% of 60 peers (Sector). weak.
Median Technology: 14.2%
Operating income divided by revenue: what the core business earns before interest and taxes.
Net margin
15.6% Fiscal year 2025
Rank 56 of 100: higher than 56% of 237 peers (All). medium.
Rank 53 of 100: higher than 53% of 63 peers (Sector). medium.
Median Technology: 12.5%
Profit after all costs, interest and taxes divided by revenue.
Return on equity
1.8% Fiscal year 2025
Rank 17 of 100: higher than 17% of 218 peers (All). weak.
Rank 35 of 100: higher than 35% of 61 peers (Sector). medium.
Median Technology: 13.5%
Net income divided by equity at fiscal year end.
Return on assets
0.7% Fiscal year 2025 (total assets at year end)
Rank 20 of 100: higher than 20% of 238 peers (All). weak.
Rank 36 of 100: higher than 36% of 63 peers (Sector). medium.
Median Technology: 5.9%
Net income divided by total assets at fiscal year end.
Equity ratio
37.0% Fiscal year 2025
Rank 52 of 100: higher than 52% of 239 peers (All). medium.
Rank 28 of 100: higher than 28% of 63 peers (Sector). weak.
Median Technology: 51.6%
Equity as a share of total assets. Usually low for banks.
Free cash flow margin
−694.8% Fiscal year 2025
Rank 4 of 100: higher than 4% of 213 peers (All). weak.
Rank 6 of 100: higher than 6% of 62 peers (Sector). weak.
Median Technology: 19.0%
Free cash flow divided by revenue.
Free cash flow
−3.7B USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
Growth 1 of 1 met · 6 without data
- no data: Over 3 years, revenue grew by more than 5% per year no comparable figures over 3 years
- no data: Over 5 years, revenue grew by more than 5% per year no comparable figures over 5 years
- no data: Over 10 years, revenue grew by more than 5% per year no comparable figures over 10 years
- no data: Over 3 years, EPS grew by more than 5% per year not computable (loss in the first or last year, or figures missing)
- no data: Over 5 years, EPS grew by more than 5% per year not computable (loss in the first or last year, or figures missing)
- no data: Revenue rose in at least 4 of the last 5 fiscal years fewer than 6 fiscal years reported
- met: Revenue rose in the last fiscal year +350.9%
Dividend no criteria with data · 7 without data
- no data: Pays a dividend 20-F filer without dividend per share
- no data: Payout ratio at most 60% of earnings 20-F filer without dividend per share
- no data: Dividend paid in each of the last 5 fiscal years 20-F filer without dividend per share
- no data: Dividend per share never lowered in the last 5 fiscal years 20-F filer without dividend per share
- no data: Dividend per share higher than 5 years ago 20-F filer without dividend per share
- no data: Free cash flow per share covers the dividend 20-F filer without dividend per share
- no data: Dividends paid over the last 5 years covered by free cash flow 20-F filer without dividend per share
Financial strength 3 of 4 met · 2 without data
- no data: Piotroski F-Score at least 7 of 9 too many criteria without data 5 of 6 · 3 without data
- met: Long-term debt no higher than equity 0.89
- met: Current assets cover current liabilities 3.08
- met: Positive equity 4.6B USD
- no data: In 5 years, share count up by at most 5% no comparable share count 5 years ago
- not met: Free cash flow positive in the last fiscal year −3.7B USD
Piotroski F-Score
5 of 6 Fiscal year 2025
No rank: not all 9 criteria have data.
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
Debt / equity
0.89 at fiscal year end
Rank 37 of 100: lower than 37% of 199 peers (All). medium.
Rank 31 of 100: lower than 31% of 54 peers (Sector). weak.
Median Technology: 0.41
Long-term financial debt divided by equity.
Liquidity (current ratio)
3.08 at fiscal year end
Rank 83 of 100: higher than 83% of 215 peers (All). strong.
Rank 75 of 100: higher than 75% of 63 peers (Sector). strong.
Median Technology: 2.02
Current assets divided by current liabilities.
The 9 criteria of the Piotroski F-Score
- met: Profit in the last fiscal year (positive return on assets)
- met: Positive operating cash flow
- no data: Return on assets higher than the prior year
- met: Operating cash flow higher than net income
- no data: Long-term debt relative to total assets fell
- not met: Liquidity (current assets / current liabilities) rose
- met: No additional shares (diluted share count did not rise)
- met: Gross margin higher than the prior year
- no data: Revenue relative to total assets higher than the prior year
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
20-F filer (foreign company): amounts in the reporting currency, no price-based criteria.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
In short
- Light green: Net margin 15.6%, above the sector median (12.5%).
- Light yellow: Debt higher than usual in the sector.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
- Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 117.5M USD · Net income −641.4M USD · Net margin −545.9%
- Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 529.8M USD · Net income 82.5M USD · Net margin 15.6%
No quarterly figures reported (companies filing a 20-F annual report usually report only once a year).
- Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Earnings per share −2.28 USD
- Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Earnings per share 0.33 USD
No quarterly figures reported (companies filing a 20-F annual report usually report only once a year).
No reported values for “Dividend per share” in this interval.
No quarterly figures reported (companies filing a 20-F annual report usually report only once a year).
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 529.8M USD · Net income 82.5M USD · Net margin 15.6%
Figures over time
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Money flow in fiscal year 2025
Of 100 USD of revenue, 68.6 USD gross profit remained.
Operating loss: −115.5% of revenue
Net income is positive nonetheless: 15.6% of revenue (one-off items, interest or investment income, taxes).
Money flow as a table
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 529.8M USD | 100.0% |
| Gross profit | 363.6M USD | 68.6% |
| Cost of revenue | 166.2M USD | 31.4% |
| Operating expenses | 975.3M USD | 184.1% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
Margins
Gross marginOperating marginNet margin Margins above ±200% hidden (revenue very small relative to the result).- Fiscal year 2024: Gross margin 37.5% · Operating margin not available · Net margin not available
- Fiscal year 2025: Gross margin 68.6% · Operating margin −115.5% · Net margin 15.6%
Returns
Return on equity rose within one year from −19.7% to 1.8%.
Return on equityReturn on assets- Fiscal year 2024: Return on equity −19.7% · Return on assets −18.1%
- Fiscal year 2025: Return on equity 1.8% · Return on assets 0.7%
Equity and long-term debt
The equity ratio fell within one year from 91.7% to 37.0%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.- Fiscal year 2024: Equity 3.3B USD · Long-term debt not available
- Fiscal year 2025: Equity 4.6B USD · Long-term debt 4.1B USD
Liquidity (current ratio)
The current ratio fell within one year from 9.60 to 3.08.
Current ratio- Fiscal year 2024: Current ratio 9.60
- Fiscal year 2025: Current ratio 3.08
Cash flow
Free cash flow fell within one year from −562.1M USD to −3.7B USD.
Operating cash flowCapital expenditureFree cash flow in USD- Fiscal year 2024: Operating cash flow 245.6M USD · Capital expenditure 807.7M USD · Free cash flow −562.1M USD
- Fiscal year 2025: Operating cash flow 384.8M USD · Capital expenditure 4.1B USD · Free cash flow −3.7B USD
Share count
The share count fell within one year by 11.9% (mostly through share repurchases).
Average share count- Fiscal year 2024: Average share count 281.0M
- Fiscal year 2025: Average share count 247.7M
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
Dividends and share repurchases
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
- Dividend per share
- none pays no dividend
- To shareholders (1 year)
- 10.0M USD 100% through repurchases
What goes back to shareholders
In one year, 10.0M USD went back to shareholders, 100% of it through share repurchases. Free cash flow over those years was not positive in total.
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USD- Fiscal year 2024: Dividends paid not available · Share repurchases 10.0M USD · New shares issued (including employee plans) not available · Free cash flow −562.1M USD
- Fiscal year 2025: Dividends paid not available · Share repurchases not available · New shares issued (including employee plans) not available · Free cash flow −3.7B USD
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Valuation over time
20-F filer or other currency: earnings per share and share count do not reliably match the price of the US listing (ADR) – so there is no price-based valuation here.
Sector comparison
Nebius Group next to 8 stocks of the sector Technology we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| CRDO Credo Technology Group | 1.3B USD | +86.8% | 68.0% | 33.3% | 35.4% | 22.9% | 89.9% | 30.5% | – |
| MARA MARA Holdings | 907.1M USD | +190.9% | – | −135.0% | −144.6% | −37.8% | 47.6% | −133.4% | – |
| TE T1 Energy | 755.3M USD | – | 7.4% | −31.1% | −48.7% | −146.9% | 18.2% | 2.2% | 6/9 |
| IREN IREN | 707.0M USD | +145.7% | 68.9% | −148.0% | −99.4% | −16.8% | 26.5% | −127.0% | 3/9 |
| RIOT Riot Platforms | 647.4M USD | +121.7% | – | −96.1% | −102.4% | −23.2% | 72.6% | −119.6% | – |
| NBIS Nebius Group this stock | 529.8M USD | – | 68.6% | −115.5% | 15.6% | 1.8% | 37.0% | −694.8% | – |
| AAOI Applied Optoelectronics | 455.7M USD | +14.2% | 30.0% | −12.0% | −8.4% | −5.2% | 62.8% | −77.6% | 5/9 |
| AI C3.ai | 250.3M USD | +6.4% | 30.9% | −199.2% | −187.9% | −71.9% | 80.1% | −76.8% | – |
| CIFR Cipher Mining | 223.9M USD | – | 63.7% | −188.2% | −367.2% | −102.1% | 18.8% | −310.7% | 3/9 |
| Median of the sector 63 symbols | 11.0B USD | +14.5% | 56.1% | 14.2% | 12.5% | 13.5% | 51.6% | 19.0% | 6/9 |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Key figures with traffic lights
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 97 symbols in the Technology sector on our list (current members of the S&P 500 and other lists).
Revenue growth
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth– per year, last 3 years
Sector Technology: median +10.0% (93 symbols)
What does this mean? Reported annual figures for a comparison over at least 3 fiscal years are missing (or the SEC data has not been fully loaded yet).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net income (total)
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth– per year, last 3 years
Sector Technology: median +6.6% (63 symbols)
per share: not available
What does this mean? Reported annual figures for a comparison over at least 3 fiscal years are missing (or the SEC data has not been fully loaded yet).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net margin
Profit marginThe share of revenue that is left as profit after all costs.Example: Profit €60m on €500m revenue → margin 12%.More in the Academy: Lesson revenue, profit and margin15.6% last fiscal year
Sector Technology: median 12.5% (97 symbols)
What does this mean? Of every 100 USD in revenue, 15.57 USD remained as profit – at least as much as the median company in the sector (12.5%).
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
Debt / equity
Debt-to-equity ratioFinancial debt (loans, bonds) divided by equity. A high value amplifies good and bad years alike. The key figures bar in the chart only uses long-term financial debt.Example: Financial debt €300m, equity €500m → 0.6.More in the Academy: Lesson debt, dividends and growth0.89 latest balance sheet
Sector Technology: median 0.45 (79 symbols)
What does this mean? For every 1 USD of equity there is 0.89 USD of financial debt – more than the median company in the sector (0.45). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
Payout ratio
Payout ratioThe share of profit that a company pays out as a dividend. Above 100% it pays out more than it earns.Example: Dividend €1, earnings per share €2.50 → payout ratio 40%.More in the Academy: Lesson debt, dividends and growth– Dividend / earnings per share
Sector Technology: median 30% (36 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
Profitable years
Profitable yearsHow many of the last fiscal years ended with a profit rather than a loss on the bottom line. The figure shows how consistently a company earns.Example: Profit in 9 of 10 years → one loss year.More in the Academy: Lesson revenue, profit and margin1 of 2 fiscal years with a profit
What does this mean? Fewer than 3 fiscal years are available to say anything about consistency.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
All figures as a table
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 529.8M | 82.5M | 15.6% | 0.33 | – | – |
| 2024 | Dec 31, 2024 | 117.5M | −641.4M | −545.9% | −2.28 | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
Insiders
Insider transactionsExecutives, directors and major shareholders (over 10%) of US companies report their own transactions in their company’s stock to the SEC within two business days (Form 4). Purchases in the market count as more meaningful than sales (often taxes, estate planning).Example: Three executives acquire stock worth a total of 2 million USD within two weeks → “purchases by several insiders”.More in the Academy: Glossary| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $247.6K1 person | $157.2M8 people | −$157.0M |
| 6 months | $247.6K1 person | $304.5M10 people | −$304.3M |
| 12 months | $247.6K1 person | $319.5M10 people | −$319.3M |
Latest transactions
- Oct 26, 2026 Grimme Arne Director Open-market purchase · 10b5-1 plan 208 shares · $32.0K · SEC
- Oct 23, 2026 Grimme Arne Director Open-market purchase · 10b5-1 plan 205 shares · $32.6K · SEC
- Oct 22, 2026 Grimme Arne Director Open-market purchase · 10b5-1 plan 357 shares · $57.8K · SEC
- Oct 21, 2026 Grimme Arne Director Open-market purchase · 10b5-1 plan 148 shares · $24.9K · SEC
- Oct 20, 2026 Grimme Arne Director Open-market purchase · 10b5-1 plan 151 shares · $24.9K · SEC
- Oct 19, 2026 Grimme Arne Director Open-market purchase · 10b5-1 plan 148 shares · $25.2K · SEC
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
Trend score -30
Price vs. EMA 50-15
Price vs. EMA 200-15
EMA 50 vs. EMA 200+20
ADX (trend strength)-15
Highs and lows+10
Relative strength-15
Volatility and trend strength
ADX 14 (trend strength)26.6
Rel. strength 60 d−20.6%
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
More stocks from Technology
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