CRTO
Criteo S.A.
CRTO's fundamentals are weak, but it looks cheap: trading at 13x earnings, below its usual 19x. Analysts expect earnings growth.
NBIS
Nebius Group N.V.
There isn't enough reported data to score NBIS yet.
CRTO Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Stable | |
| Healthy | |
| Unavailable |
CRTO's cash flow is currently healthy, and its profitability is stable, but its revenue is under pressure. There isn't enough data to rate its balance sheet.
NBIS Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| Unavailable | |
| Healthy |
NBIS's profitability and balance sheet are currently healthy. There isn't enough data to rate its revenue and cash flow.
CRTO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 4.9x | $17.43 | — |
| Cheap | 8.6x | $11.90 | -32% |
| Current | 13x | $17.43 | — |
| Fair | 19x | $26.52 | +52% |
| Expensive | 33x | $45.77 | +163% |
Historical ranges are pointers, not guarantees.
CRTO has the edge over NBIS in the historical PE scenario, which offers more potential upside but is not a forecast.
NBIS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 68x | $22.45 | -83% |
| Fair | 114x | $37.67 | -71% |
| Current | 390x | $129 | — |
| Expensive | 666x | $220 | +71% |
Historical ranges are pointers, not guarantees.
NBIS's PE is 390x, but its earnings don't support one, so it isn't a reliable read right now.
CRTO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect CRTO's earnings to grow and its profitability to improve, with its revenue holding steady.
NBIS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect NBIS's revenue to grow and its profitability to improve, with its earnings holding steady. However, they disagree widely on these estimates.
CRTO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.59 | +160% |
| Q3 2026 | $1.38 | -53% |
| Q2 2026 | $1.97 | -17% |
| Q1 2026 | $2.14 | -12% |
| Q4 2025 | $2.65 | +39% |
| Q3 2025 | $2.96 | +74% |
| Q2 2025 | $2.37 | +39% |
| Q1 2025 | $2.44 | +103% |
| Q4 2024 | $1.90 | +116% |
CRTO's earnings per share have fallen from their peak: $1.38 over the past year, against $2.96 in late 2025.
NBIS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2025 | $0.33 | +$2.61 |
| Q4 2024 | -$2.28 | -456% |
| Q4 2023 | $0.64 | -36% |
| Q4 2022 | $1.00 | +$1.49 |
| Q4 2021 | -$0.49 | -156% |
| Q4 2020 | $0.87 | +89% |
| Q4 2019 | $0.46 | -73% |
| Q4 2018 | $1.71 | +434% |
NBIS has the edge over CRTO in the latest year-over-year earnings comparison.
CRTO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $416.5M | -11% |
| Q2 2026 | $428M | -11% |
| Q1 2026 | $424.6M | -5.9% |
| Q4 2025 | $541.1M | -2.2% |
| Q3 2025 | $469.7M | +2.3% |
| Q2 2025 | $482.7M | +2.4% |
| Q1 2025 | $451.4M | +0.3% |
| Q4 2024 | $553M | -2.3% |
CRTO has the edge over NBIS in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5% | -6 points |
| Q2 2026 | 3.5% | -2.8 points |
| Q1 2026 | 2.5% | -8.2 points |
| Q4 2025 | 13% | -3.7 points |
| Q3 2025 | 11% | +8.9 points |
| Q2 2025 | 6.3% | -1.5 points |
| Q1 2025 | 11% | +8.4 points |
| Q4 2024 | 17% | +1.5 points |
CRTO's operating margin was 5% last quarter, down 6 points from the same quarter a year ago.
NBIS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2023 | $9.7B | +53% |
| Q4 2022 | $6.3B | +46% |
| Q4 2021 | $4.3B | +63% |
| Q4 2020 | $2.6B | +24% |
| Q4 2019 | $2.1B | +37% |
| Q4 2018 | $1.5B | +36% |
| Q4 2017 | $1.1B | +24% |
| Q4 2016 | $917M | +27% |
NBIS's revenue is growing: $530M last quarter, down 80% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2025 | -115% | -112 points |
| Q4 2023 | 3.6% | -11 points |
| Q4 2022 | 2.5% | -14 points |
| Q4 2021 | -3.7% | -18 points |
| Q4 2020 | 7.4% | -9.5 points |
| Q4 2019 | 14% | -2 points |
| Q4 2018 | 16% | -14 points |
| Q4 2017 | 14% | -19 points |
NBIS's operating margin was −115% last quarter, down 123 points from the same quarter a year ago, near the bottom of its range since 2011.
CRTO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $21.1M | -68% |
| Q2 2026 | -$37.9M | -$1.3M |
| Q1 2026 | $15.4M | -66% |
| Q3 2025 | $66.6M | +16% |
| Q2 2025 | -$36.6M | -313% |
| Q1 2025 | $45.3M | +223% |
| Q3 2024 | $57.5M | +193% |
| Q2 2024 | $17.2M | +1194% |
CRTO still generates free cash flow, though less than at its 2023 peak: $132M over the past year.
NBIS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | -$3.7B | -$3.1B |
| Q4 2024 | -$562.1M | -$316.2M |
| Q4 2023 | -$245.9M | -$138.9M |
| Q4 2022 | -$107M | +$319.7M |
| Q4 2021 | -$426.7M | -539% |
| Q4 2020 | $97.3M | -66% |
| Q4 2019 | $287.9M | +$289.2M |
| Q4 2018 | -$1.3M | -101% |
NBIS has burned cash in six of the last eight quarters: −$4.6B over the past year, against −$43M the year before.
CRTO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.5% | -751K shares |
| 1 year | -10% | -5.6M shares |
| 3 years | -17% | -10.4M shares |
| 5 years | -22% | -14.4M shares |
| Available history | -24% | -15.8M shares |
CRTO has 50M diluted shares, down 10% from a year ago, with $102M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.1M |
| Q2 2026 | $30.4M |
| Q1 2026 | $31M |
| Q4 2025 | $36.6M |
| Q3 2025 | $10.9M |
| Q2 2025 | $48.3M |
| Q1 2025 | $56.2M |
| Q4 2024 | $67.1M |
CRTO spent $102M buying back its own shares over the past year, down 44% from the year before.
NBIS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -12% | -33.3M shares |
| 1 year | -32% | -115M shares |
| 3 years | -26% | -86.9M shares |
NBIS has the edge over CRTO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2024 | $10M |
| Q4 2021 | $84.1M |
| Q4 2020 | $122.8M |
| Q4 2019 | $17.2M |
| Q4 2018 | $121.8M |
| Q4 2014 | $101.7M |
| Q4 2013 | $102.9M |
CRTO Net Leverage
NBIS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2023 | 0.7x | Very low |
| Q4 2022 | -0.7x | Net Cash |
NBIS's net debt is less than a year of its operating earnings (EBITDA).
CRTO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.3 | Neutral |
| Stochastic | 31.1 | Neutral |
CRTO's weekly RSI is 50 (neutral) and its Stochastic is 31 (neutral).
NBIS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.0 | Neutral |
| Stochastic | 8.3 | Oversold |
NBIS's weekly RSI is 38 (neutral) and its Stochastic is 8 (oversold).
CRTO PE vs Communication Services Sector
| Metric | CRTO | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 16x | 23% below |
| PE % | 39 | 26 | 13 pts above |
CRTO has the edge over NBIS on valuation relative to its sector.
NBIS PE vs Communication Services Sector
| Metric | NBIS | Sector median | Relative |
|---|---|---|---|
| PE | 390x | 16x | 2,264% above |
| PE % | 62 | 24 | 38 pts above |
NBIS is trading at 390x earnings, a 2264% premium to the Communication Services sector's median of 16x, though its earnings don't support one.
CRTO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $15.6 | 12% above |
| 20 week MA | $17.8 | 1.9% below |
| 50 week MA | $18.3 | 4.5% below |
| 100 week MA | $23.5 | 26% below |
| 200 week MA | $28.7 | 39% below |
NBIS has stronger trend alignment. CRTO is above 1 of 5 weekly averages versus NBIS above 1 of 4.
NBIS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $179.7 | 28% below |
| 20 week MA | $199.9 | 36% below |
| 50 week MA | $163.5 | 21% below |
| 100 week MA | $110.0 | 17% above |
NBIS has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 17% above its 100-week average.
CRTO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.2 | $20.8 | +21% |
| 2021 | $20.8 | $37.1 | +78% |
| 2022 | $37.1 | $26.0 | -30% |
| 2023 | $26.0 | $25.3 | -2.5% |
| 2024 | $25.3 | $40.5 | +60% |
| 2025 | $40.5 | $20.0 | -51% |
| 2026 YTD | $20.0 | $17.4 | -13% |
CRTO has finished lower in three of the last six years. It's down 13% so far in 2026.
NBIS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $19.6 | $27.3 | +40% |
| 2025 | $27.3 | $87.6 | +221% |
| 2026 YTD | $87.6 | $128.6 | +47% |
NBIS has the edge over CRTO on returns for 2026, with the stronger performance.