Nebius Group N.V.

NBISNASDAQCommunication Services● Active

$227.86

+$0.05(+0.02%)

Market Cap$54.7B

P/E Ratio—

52W High$278.84

52W Low$41.4

Avg Volume17.8M

Open$240.40

Beta1.43

Free Cash Flow Financials Revenue

Nebius Group N.V. (NBIS) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

NBIS · free cash flow · updated Jun 8, 2026

Core FCF metrics

NBIS · FCF · TTM · margin & CAGR

Free cash flow was −$3.68B for FY2025 (fiscal year ending 2025-12-31), down 554.9% year-over-year The FCF margin was -694.8%.

FY2025 Free Cash Flow−$3.68B▼ -554.9% YoY

Trailing 12M (TTM)−$2.47Btrailing 4 quarters sum

FCF Margin-694.8%−$3.68B ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

NBIS · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$384.8M(4.07B)−$3.68B▼ 554.9%-694.8%

FY2024$245.6M(808M)−$562.1M▼ 175.3%-478.4%

FY2023$829.8M(83M)$746.4M▲ +9.4%—

FY2022$697.0M(15M)$682.4M▲ +244.0%—

FY2021$124.6M(598M)−$473.7M▼ 537.7%-9.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

NBIS · P/FCF · FCF yield · FCF per share

Nebius Group N.V. (NBIS) reported negative free cash flow of −$3.68B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

NBIS · cash flow statement · operating / investing / financing

For FY2025, Nebius Group N.V. generated $384.8M in operating cash flow and spent 4.07B in capital expenditures, yielding −$3.68B in free cash flow.

Operating Activities

+$384.8M

Cash from core business operations

2025-12-31

Investing Activities

−$4.23B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$5.13B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($384.8M) − |CapEx| (4.07B) = FCF (−$3.68B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Communication Services)

NBIS vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Nebius Group N.V.YOU

NBIS

−$3.68B-554.9%-694.8%

Loss

About Free Cash Flow & Methodology

Nebius Group N.V. (NBIS) reported free cash flow of −$3.68B for FY2025 (fiscal year ending 2025-12-31), down 554.9% year-over-year. The FCF margin was -694.8%.

Based on available data, Nebius Group N.V. has maintained positive free cash flow for at least 11 fiscal year(s). FCF peaked at $746.4M in FY2023.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

NBIS free cash flow · 8 questions

Nebius Group N.V. free cash flow was −$3.68B for FY2025, down 554.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$2.47B.

NBIS free cash flowNBIS FCFNBIS FCF 2025NBIS free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Nebius Group N.V. · Nebius Group N.V. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026