Nebius Group N.V. (NBIS)

Nebius Group Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	42.4	82.5	-641.4	241.3	745.6	-195.48
Depreciation & Amortization	863.8	468.5	85.8	36.4	29.5	436.07
Other Amortization	60.7	21.2	-	-	-	147.48
Loss (Gain) From Sale of Investments	-782.1	-598.9	-	-	-	-
Loss (Gain) on Equity Investments	13	24.3	-0.4	10.9	14	-84.85
Stock-Based Compensation	188.9	83.2	54.5	28.8	9.6	277.57
Provision & Write-off of Bad Debts	9.4	5.5	0.2	-0.2	1.1	16.64
Other Operating Activities	20.3	-47.8	303.8	-538.3	-929.5	-77.83
Change in Accounts Receivable	-242.2	-714.6	-9.8	2.3	-2.7	-256.66
Change in Inventory	-	-	-	-	-	-63.38
Change in Accounts Payable	-20.7	-29	-28	1.5	13	301.72
Change in Unearned Revenue	5,958	1,566	10	1.9	0.8	50.72
Change in Other Net Operating Assets	-853.3	-458.8	-44.6	-6.6	-21.1	-428.17
Operating Cash Flow	5,258	384.8	245.6	829.8	697	123.84
Operating Cash Flow Growth	-	56.68%	-70.40%	19.05%	462.82%	-71.91%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-11,142	-4,066	-807.5	-82.9	-14.6	-594.63
Sale of Property, Plant & Equipment	5.2	-	1.6	-	2	-
Cash Acquisitions	-251.6	-	-	-	-	-109.75
Divestitures	-	-	1,467	-	-	-
Investment in Securities	-	-167.7	10	-10	-	1,025
Other Investing Activities	16.4	4.4	-359.9	-1,119	-390.5	-28.68
Investing Cash Flow	-11,372	-4,229	311.6	-1,212	-403.1	293.1

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	-	-	-	-	39.19
Long-Term Debt Issued	-	4,163	-	-	-	-
Total Debt Issued	7,500	4,163	-	-	-	39.19
Short-Term Debt Repaid	-	-	-	-	-	-5.29
Long-Term Debt Repaid	-	-0.8	-0.7	-	-	-9.82
Total Debt Repaid	-0.8	-0.8	-0.7	-	-	-15.11
Net Debt Issued (Repaid)	7,499	4,162	-0.7	-	-	24.08
Issuance of Common Stock	4,161	1,258	700	-	-	15.37
Repurchase of Common Stock	-	-	-	-	-	-92.83
Other Financing Activities	1,808	-294.6	126.2	375.6	-100.3	-1,077
Financing Cash Flow	13,467	5,126	825.5	375.6	-100.3	-1,131

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-9.3	-9.7	-23.6	-102.6	-61.8	6.81
Net Cash Flow	7,344	1,271	1,359	-109.3	131.8	-706.92

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	-5,884	-3,681	-561.9	746.9	682.4	-470.79
Free Cash Flow Growth	-	-	-	9.45%	-	-
Free Cash Flow Margin	-434.20%	-694.83%	-614.10%	7621.43%	5054.81%	-9.92%
Free Cash Flow Per Share	-21.25	-14.86	-2.00	2.01	1.85	-1.30
Levered Free Cash Flow	-9,615	-3,600	-1,292	659.81	-406.56	106.15
Unlevered Free Cash Flow	-9,526	-3,583	-1,292	659.81	-406.56	109.47

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	12.2	12.2	-	-	-	7.66
Cash Income Tax Paid	4.5	4.5	3.7	2	0.2	167.55
Change in Working Capital	4,842	363.4	-72.4	-0.9	-10	-395.78

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Aug 12, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 31, 2026

Data Sources Report a data error