Nexxen International Ltd. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Nexxen International Ltd. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	326	212	342	335	332	365	365
Cost of revenue	187	59.8	71.7	60.7	62.3	61	55
Gross profit	139	152	270	275	270	304	310
Research and development	16.2	13.3	18.4	33.7	49.7	50	58.1
Operating income	3.9	-6.03	74.5	44.8	-17	40.8	32.4
Interest expense	1.09	1.86	2.67	4.61	10.2	8.95	2.2
Interest income	0.77	0.45	0.48	2.28	8.19	6.66	7.01
Pre-tax income	3.59	-7.44	72.3	42.4	-19	38.5	37.3
Income tax	-2.64	-9.58	-0.95	19.7	2.5	3.1	12.2
Net income	6.22	2.14	73.2	22.7	-21.5	35.4	25
EBITDA	36.3	39.2	115	87.5	61.3	99.5	95.6
EPS, basic	0.12	0.04	1.02	0.30	-0.30	0.51	0.42
EPS, diluted	0.10	0.04	0.96	0.30	-0.30	0.51	0.41

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	79	97.5	368	218	234	187	133
Total current assets		271	552	462	452	413	337
Property, plant and equipment		3.29	3.46	29.9	21.4	15.7	18
Lease right-of-use assets	16.7	10.8	8.27	18.3	25.9	28.8	25.8
Goodwill			5.19
Total assets		535	803	956	905	841	756
Total current liabilities		185	221	281	229	286	262
Lease liabilities		12.2	7.88	15.2	25	22.9	18.6
Total liabilities		206	230	405	361	310	281
Paid-in capital		265	437	401	411	363	279
Retained earnings		60.5	134	156	135	170	195
Total equity	301	329	572	552	544	531	475
Total liabilities and equity		535	803	956	905	841	756

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	6.22	2.14	73.2	22.7	-21.5	35.4	25
Depreciation and amortization	32.4	45.2	40.3	42.7	78.3	58.7	63.1
Cash from operations	45.1	35.2	170	83	60.7	151	110
Capital expenditures	-1.06	-0.59	-3.38	-6.43	-4.5	-7.74	-12.1
Cash from investing	19.4	4.92	-16.5	-233	-17	-21.2	-48.6
Debt repaid	-17.3	0	0
Share buybacks	-24.7	-9.97	-6.64	-86	-9.52	-60.7	-102
Cash from financing	-52.8	-22.4	117	3.06	-26.5	-175	-118
Exchange rate effect	0.26	0.7	-0.21	-3.29	-0.43	-2.12	2.28
Free cash flow	44	34.6	167	76.6	56.2	143	98
Interest paid	0.94	1.12	0.57	0.59	8.49	6.38	2.03

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $8.70 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	84.9%	Gross profit / revenue.
Operating margin	8.9%	Operating income / revenue.
EBITDA margin	26.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	10.2%	Pre-tax income / revenue.
Net margin	6.9%	Net income / revenue.
FCF margin	26.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	30.2%	Cash from operations / revenue.
Effective tax rate	32.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	3.1%	Net income / average total assets.
R&D / revenue	15.9%	Research and development expense / revenue.
Capex / revenue	3.3%	Capital expenditures / revenue.
D&A / revenue	17.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	1.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	15.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-20.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-10.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-3.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	3.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	19.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-29.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	3.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	63.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-19.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	11.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	59.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-27.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	9.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	25.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-31.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	8.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	23.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-10.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-7.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	7.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.29x	Current assets / current liabilities.
Quick ratio	0.51x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.51x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	37.2%	Total liabilities / total assets.
Interest coverage	14.7x	Operating income / interest expense.
Working capital	$75.3M	Current assets - current liabilities.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.46x	Revenue / average total assets.
Fixed asset turnover	21.6x	Revenue / average property, plant and equipment.
FCF conversion	391.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.41	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$0.42	Net income per basic share, as reported (split-adjusted).
Buybacks / FCF	103.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$570.4M	Share price x shares outstanding.
Enterprise value	$437.1M	Market cap + total debt - cash - short-term investments.
P/E	22.8x	Market cap / net income. Only when net income is positive.
P/S	1.56x	Market cap / revenue.
P/FCF	5.82x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	5.18x	Market cap / cash from operations, when positive.
EV/Sales	1.20x	Enterprise value / revenue.
EV/EBIT	13.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	4.57x	Enterprise value / EBITDA, when both are positive.
EV/FCF	4.46x	Enterprise value / free cash flow, when both are positive.
FCF yield	17.2%	Free cash flow / market cap.
Earnings yield	4.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	17.8%	(Dividends paid + share buybacks) / market cap.
PEG	2.08x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Nexxen International Ltd.'s revenue in fiscal 2025?

Nexxen International Ltd. reported revenue of $364.8M for fiscal 2025, 0.2% lower than the year before.

Was Nexxen International Ltd. profitable in fiscal 2025?

Yes. Net income was $25.0M, a net margin of 6.9%.

How much free cash flow did Nexxen International Ltd. generate in fiscal 2025?

Cash from operations of $110.1M minus capital expenditures of $12.1M left free cash flow of $98.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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