NBIS Rule of 40
Rule of 40 combines revenue growth and free cash flow margin in one quarterly score.
Rule of 40
2026 Q2
n/m
Not meaningful
Revenue growth context+454.0%
FCF margin context−585.8%
Why R40 is not meaningful yet
Capital expenditure and cash flow are too large relative to current revenue for the combined Rule of 40 score to be meaningful.
Quarter context
2025 Q4
Revenue $227.7M (+546.9% YoY). Capex $2.1B (9.0× revenue); FCF −$1.2B.
2026 Q1
Revenue $399.0M (+683.9% YoY). Capex $2.5B (6.2× revenue); FCF −$214.9M.
2026 Q2
Revenue $582.3M (+454.0% YoY). Capex $5.7B (9.7× revenue); FCF −$3.4B.
Other NBIS Charts
More quarter-by-quarter fundamentals for Nebius Group N.V.
1 / 10
Revenue
EPS
Free Cash Flow
Gross Margin
FCF Margin
P/E Ratio
Cumulative FCF
Shares Outstanding
Total Assets
Total Debt
AI Infrastructure Comparison
1 / 3
NVDA · Rule of 40
Q2 FY2027 · latest
128.1✓ Passing
Growth +105.9%
FCF +22.2%
142
FY2025
Q3
117
Q4
129
Q1
84
Q2
101
FY2026
Q3
124
Q4
145
Q1
128
FY2027
Q2
40
0
Mix
CRWV · Rule of 40
2026 Q2 · latest
n/mNot meaningful yet
IREN · Rule of 40
2026 Q2 · latest
n/mNot meaningful yet
Latest Rule of 40: 0 (2026Q2).