Added to YB: 2026-08-28
Pitch date: 2026-08-26
NBIS [neutral]
Nebius Group N.V.
-2.19%
current return
Author Info
MVC Investing is a long-term investor. BSc in Economics, MSc in Finance. Equity Analyst with a focus on Fundamental Analysis and Valuation. Sign up for the newsletter.
Company Info
Nebius Group N.V., a technology company, engages in building full-stack infrastructure to service the global AI industry in the United States, the United Kingdom, and internationally.
Market Cap
$58.6B
Pitch Price
$223.37
Price Target
N/A
Dividend
N/A
EV/EBITDA
136.00
P/E
1.3K
EV/Sales
44.86
Sector
Software
Category
growth
Nebius Group (NBIS): Updated Valuation Model
NBIS (hold): Despite nearly 800% appreciation, Nebius remains the largest position as Q2 contract disclosures materially improved expected economics: mid-term capacity commands $20-25M of annual contract value per MW and short-duration deals $40-50M+. The updated YE2027 base-case benchmark is $397.82 per share versus $221.97 currently, assuming 1.8GW active power, $17M ARR per MW, a 20% EBIT margin and $40B net debt. Key catalysts are 2027 guidance and another large contract; AI-demand disruption remains the major unmodeled downside.
Read full article (23 min)