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Nebius Group N.V. (NBIS) financial health, profit and balance sheet · Scorvest

NBIS · Nasdaq · United States · Services-Computer Programming, Data Processing, Etc.

Nebius Group N.V.

Amsterdam · Fiscal year ends in December 2023 · Figures in RUB

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In shortNebius Group N.V. is profitable, burns cash and carries moderate debt, with revenue growing (+53.4% last year).

Financial health

Weak

Built from five areas over the last five annual reports. Tap an area to see the figures behind it.

How is this score calculated? →

Profitability28

Operating marginShare of each sale left after running the business, before interest and tax.	3.6%	29/100
Net marginShare of each sale left as profit after every cost, interest and tax.	2.5%	30/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	6.5%	32/100
Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.	3.3%	22/100

Weight in the score: 25%

Balance sheet41

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.	0.89×	8/100
Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.	0.48×	85/100
Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.	0.66×	96/100
Interest coverageHow many times operating profit covers interest. Below 2 is risky.	2.62×	11/100
Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.	1.37	7/100

Weight in the score: 25%

Cash generation12

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	-2.5%	10/100
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	-1.02×	0/100
Years with positive free cash flow (last 5)	2 of 5	25/100

Weight in the score: 20%

Stability72
Profitable years (last 5) 4 of 5 80/100
Years of revenue decline (last 5) 0 of 5 100/100
Revenue growth volatility 14.8% 56/100
Operating margin volatility 6.5% 50/100
Weight in the score: 20%
Growth50
Revenue growth, 3-year average 54.2% 100/100
EPS growth, 3-year average -8.6% 0/100
Weight in the score: 10%

Profitable years (last 5)	4 of 5	80/100
Years of revenue decline (last 5)	0 of 5	100/100
Revenue growth volatility	14.8%	56/100
Operating margin volatility	6.5%	50/100

Revenue growth, 3-year average	54.2%	100/100
EPS growth, 3-year average	-8.6%	0/100

Fiscal year 2023 · change vs prior year

Revenue: RUB 800.1B; ▲ 53.4%
Net income: RUB 19.9B; ▼ 49.7%
Free cash flow: −RUB 20.4B; ▼ 129.9%
Operating margin: 3.6%; +1.0 pts
Cash & investments: RUB 96.5B; –
Total debt: RUB 141.5B; ▲ 176.4%
Diluted EPS: RUB53.26; ▼ 35.5%
Return on equity: 6.5%; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Revenue and net income

RevenueNet income

Margins

Statements

The last 5 fiscal years from the company's annual reports.

RUB millions; negative values in parentheses.

Fiscal year	FY19	FY20	FY21	FY22	FY23
Revenue	175,391	218,344	356,171	521,699	800,125
Cost of revenue	55,788	85,734	173,952	233,219	360,033
Gross profit	119,603	132,610	182,219	288,480	440,092
Research & development	29,209	36,339	48,461	72,278	102,991
Selling, general & admin	50,295	62,913	122,924	172,092	267,552
Operating income	24,560	15,671	(13,277)	13,236	28,461
Interest expense	74	2,373	3,711	3,396	10,863
Pre-tax income	22,721	36,543	(7,223)	70,349	43,147
Income tax	11,656	13,193	7,430	22,734	21,372
Net income	11,065	24,713	(14,669)	39,465	19,870
Diluted EPS	RUB37.81	RUB69.77	−RUB40.48	RUB82.53	RUB53.26
Diluted shares (millions)	335	353	362	368	371

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Risk checks

Altman Z'' score

1.37 Grey zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

4/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: passed
Positive operating cash flow: passed
Return on assets improved: failed
Cash flow exceeds net income: passed
Long-term debt ratio fell: failed
Current ratio improved: failed
No share dilution: failed
Gross margin improved: failed
Asset turnover improved: passed

Sources

20-FPeriod ending Dec 31, 2025Filed Apr 30, 2026Open the report ↗
20-FPeriod ending Dec 31, 2024Filed Apr 30, 2025Open the report ↗
20-FPeriod ending Dec 31, 2023Filed Apr 26, 2024Open the report ↗
20-FPeriod ending Dec 31, 2022Filed Apr 20, 2023Open the report ↗
20-FPeriod ending Dec 31, 2021Filed Apr 20, 2022Open the report ↗
20-FPeriod ending Dec 31, 2020Filed Apr 1, 2021Open the report ↗
20-FPeriod ending Dec 31, 2019Filed Apr 2, 2020Open the report ↗
20-FPeriod ending Dec 31, 2018Filed Apr 19, 2019Open the report ↗