Nebius Group NV vs ON Holding AG — how do they compare? Nebius Group NV trades at $258.18 (market cap $70.46B), while ON Holding AG trades at $31.53 (market cap $10.36B). The key difference: Nebius Group NV is far larger — about 6.8× ON Holding AG's market cap, and Nebius Group NV is trading nearer its 52-week high, ON Holding AG nearer its low. Which is the better fit depends on your goals.
| NBIS | ONON | |
|---|---|---|
Market Cap | $70.46B | $10.36B |
Sector | Technology | Technology |
52-Week High | $286.69 | $50.63 |
52-Week Low | $64.06 | $30.91 |
Enterprise Value | $72.48B | $9.50B |
Signals from Pluang's Aura AI — not financial advice
NBIS surged 34.32% to $259.20, reflecting strong bullish momentum after Q2 2026 earnings beat expectations. Revenue growth of 454% year-over-year and a $40 billion backlog highlight robust AI infrastructure demand. The stock trades near resistance at $270, with technical indicators signaling bullish trends. Analyst consensus is overwhelmingly positive, with 89% recommending Buy and a $270.25 price target.
Outlook remains optimistic due to explosive revenue growth and strategic partnerships, but high valuation multiples (P/E 74.61) and negative cash flow from investing pose risks. Competitive pressure and reliance on debt financing require monitoring for sustained shareholder value.
ONON trades at $31.01, down 0.32% amid a bearish technical signal after Q2 2026 results. The stock plunged 20% on August 11, 2026, due to a revenue miss and lowered growth guidance, though earnings beat estimates. Fundamentals show strong profitability with a 64.82% gross margin and 12.3% net margin, while valuation ratios like P/E of 21.28 appear elevated. Analyst consensus remains bullish with a $47.27 price target, but technical indicators signal caution with key support at $30.
The outlook is mixed: robust earnings growth and margin expansion support upside, but slowing revenue guidance and high valuation pose risks. Investors face volatility from wholesale softness and consumer spending concerns, though direct-to-consumer strength offers resilience. Near-term performance hinges on Q3 2026 results and macroeconomic trends.
Trailing returns across standard periods
Latest headlines on both assets
Nebius Group N.V. is a technology company specializing in AI, machine learning, and cloud computing solutions. The company provides a range of enterprise-level cloud services, including large-scale data processing, advanced analytics, and AI model development and deployment. Nebius Group focuses on serving businesses that require high-performance, scalable, and secure infrastructure to handle complex computational tasks and accelerate their digital transformation.
Read more on NBIS →ON Holding AG is a Swiss sports company primarily known for its high-performance running shoes, apparel, and accessories under the 'On' brand. The company emphasizes a blend of high-end design, proprietary cloud technology (like CloudTec cushioning), and sustainability in its products. On has rapidly gained market share globally, appealing to both competitive athletes and general consumers in the performance and lifestyle footwear segments.
Read more on ONON →