Nexi walked into this earnings print with its stock sitting at €4.25, up almost 20% over the past month and already priced as a recovery story. The headline is not revenue growth; it is the profit squeeze that still hangs over the business. H1 2026 revenue of about €3.0b and an EBITDA margin around 50% sit beside trailing 12 month net losses of about €3.4b. The market has been willing to look through that. Today is about whether that patience still holds.
Is Nexi a genuine value opportunity after a trailing net loss of about €3.4b, or is the low P/S multiple just a warning sign in disguise? See how the current market price compares to fair value and cash flow assumptions in our valuation analysis for Nexi
