Nexi stock reports an investment grade upgrade as debt falls

Nexi stock was trading at EUR 4.13 on Borsa Italiana at 12:45 p.m. CEST on October 7, 2026, down 0.60 percent from the previous close. The key credit signal came from Börse Express, which reported on September 30, 2026, that Moody's raised Nexi's long-term issuer and senior unsecured ratings from Ba1 to Baa3.

Investment grade changes debt picture

The upgrade moves Nexi into investment grade after a period of deleveraging. According to Börse Express, net financial debt stood at 2.7 times EBITDA at the end of the first half of 2026, while the ratio was 2.4 times excluding dividends and the Banca Popolare di Sondrio transaction.

The credit profile still has a clear threshold. Moody's cited adjusted leverage of 3.5 times in June 2026 and expects it to decline toward 3.0 times over the following two years; a move above 3.5 times would put renewed pressure on the rating, according to Börse Express.

Cash flow supports the rating

Nexi generated excess cash of EUR 400 million in the first half of 2026, while its full-year plan calls for adjusted free cash flow after dividends of EUR 450 million, as reported by Börse Express. The company also had cash of EUR 800 million and an unused revolving credit facility of EUR 1 billion at midyear.

The operating counterweight is growth. Nexi confirmed its 2026 earnings guidance after the half-year report, with net revenue growth broadly in line with 2025 and a reacceleration expected in Merchant Solutions, according to Simply Wall St. Nexi's investor-relations page reports fiscal-year 2025 revenue of EUR 3.583 billion, EBITDA of EUR 1.901 billion and an EBITDA margin of 53.1 percent.

Analysts see limited average upside

The consensus remains restrained. MarketScreener lists a Hold consensus from 15 analysts, an average target of EUR 4.088, a low target of EUR 2.60 and a high target of EUR 6.00. The average target is 1.02 percent below the EUR 4.13 intraday price, while the high target is 45.28 percent above it.

Results date sets next checkpoint

Nexi's investor-relations calendar schedules the nine-month 2026 results presentation and conference call for November 5, 2026. That date places the next operating test after the rating upgrade, with Merchant Solutions growth and leverage likely to remain central measures.

Nexi stock stays below yearly high

Nexi stock was trading at EUR 4.13 on Borsa Italiana on October 7, 2026. Its 52-week range was EUR 2.64 to EUR 5.03, and its market capitalization was EUR 4.9 billion.

Upcoming dates for Nexi stock

• November 5, 2026: Nine-month 2026 results presentation and conference call

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