NBIS
Nebius Group N.V.
There isn't enough reported data to score NBIS yet.
SPHR
Sphere Entertainment Co.
SPHR lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to shrink, though they disagree widely on how much.
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.
SPHR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Strong | |
| Under pressure |
SPHR's cash flow is currently strong, and its revenue is stable, but its profitability and balance sheet are under pressure.
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.
SPHR PE Valuation
SPHR has no meaningful PE right now: it lost money over the past year.
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.
SPHR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect SPHR's losses to shrink, with revenue holding steady. However, they disagree widely on these estimates.
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 SPHR in the latest year-over-year earnings comparison.
SPHR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.53 | +$1.64 |
| Q2 2026 | -$1.49 | +$3.83 |
| Q1 2026 | $2.97 | +$13.01 |
| Q4 2025 | $0.74 | +$9.84 |
| Q3 2025 | -$5.17 | +$5.35 |
| Q2 2025 | -$5.32 | +$0.36 |
| Q1 2025 | -$10.04 | -191% |
| Q4 2024 | -$9.10 | -178% |
SPHR is still losing money, but far less than before: $3.53 per share over the past year, against $10.52 at its worst in late 2024.
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.
SPHR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $274.3M | +4.5% |
| Q2 2026 | $313.6M | +11% |
| Q1 2026 | $386.4M | +38% |
| Q4 2025 | $394.3M | +28% |
| Q3 2025 | $262.5M | +15% |
| Q2 2025 | $282.7M | +3.4% |
| Q1 2025 | $280.6M | -13% |
| Q4 2024 | $308.3M | -1.9% |
SPHR has the edge over NBIS in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -88% | -38 points |
| Q2 2026 | -20% | -1.8 points |
| Q1 2026 | 1.9% | +30 points |
| Q4 2025 | 7.3% | +54 points |
| Q3 2025 | -49% | +2.2 points |
| Q2 2025 | -18% | +8.4 points |
| Q1 2025 | -28% | N/A |
| Q4 2024 | -46% | N/A |
SPHR's operating margin was −88% last quarter, down 38 points from the same quarter a year ago.
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.
SPHR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $56.9M | -51% |
| Q2 2026 | -$33.7M | +$25.4M |
| Q1 2026 | $136.2M | +2046% |
| Q4 2025 | $180.2M | +614% |
| Q3 2025 | $115.8M | +240% |
| Q2 2025 | -$59.1M | +$13.4M |
| Q1 2025 | $6.3M | -94% |
| Q4 2024 | $25.3M | -46% |
SPHR generated $340M in free cash flow over the past year, about four times what it generated 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 SPHR 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 |
SPHR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +186K shares |
| 1 year | -19% | -8.5M shares |
| 3 years | +4% | +1.4M shares |
| 5 years | -30% | -15.9M shares |
SPHR has 36M diluted shares, down 19% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | $16,000 |
| Q4 2024 | $1.3M |
| Q1 2020 | — |
| Q4 2019 | — |
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).
SPHR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.4x | Elevated |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 0.9x | Very low |
| Q4 2025 | 2.9x | Moderate |
| Q3 2025 | 4.2x | High |
| Q2 2025 | 4.2x | High |
| Q1 2025 | 8.2x | High |
| Q4 2022 | 15.9x | High |
SPHR's net debt is about 3.4 years of its operating earnings (EBITDA), down from 4.2 years a year ago.
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).
SPHR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.2 | Neutral |
| Stochastic | 23.2 | Neutral |
SPHR's weekly RSI is 47 (neutral) and its Stochastic is 23 (neutral).
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.
SPHR PE vs Communication Services Sector
| Metric | SPHR | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 16x | — |
SPHR has no meaningful PE right now: it lost money over the past year.
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 |
SPHR has stronger trend alignment. NBIS is above 1 of 4 weekly averages versus SPHR above 3 of 5.
SPHR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $117.6 | 5.1% above |
| 20 week MA | $136.7 | 9.5% below |
| 50 week MA | $125.4 | 1.4% below |
| 100 week MA | $85.6 | 44% above |
| 200 week MA | $60.9 | 103% above |
SPHR's trend is mixed: it's above three of its five weekly moving averages, and 103% above its 200-week average.
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 SPHR on returns for 2026, with the stronger performance.
SPHR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $40.9 | $40.7 | -0.3% |
| 2021 | $40.7 | $32.8 | -19% |
| 2022 | $32.8 | $19.9 | -39% |
| 2023 | $19.9 | $34.0 | +71% |
| 2024 | $34.0 | $38.1 | +12% |
| 2025 | $38.1 | $93.4 | +145% |
| 2026 YTD | $93.4 | $123.7 | +32% |
SPHR is up 32% so far in 2026, after finishing lower in three of the previous six years.