Nexans stock holds on backlog strength after 2025 results

Nexans stock (FR0000044448) is backed by a 2025 revenue base of EUR 7.1 billion, adjusted EBITDA of EUR 706 million, and net free cash flow conversion above 50% in the company’s latest annual results. The company also completed a EUR 70 million share buyback by 31 December 2025, a cash-return detail that keeps the equity story tied to execution rather than only to the cable cycle.

EUR 7.1 billion revenue

In its 2025 results, Nexans reported revenue of EUR 7.1 billion and adjusted EBITDA of EUR 706 million, according to the company’s finance page and annual reporting materials. The ratio between those two figures shows why margin discipline matters: EBITDA represented about 9.9% of revenue in 2025, a level that investors can compare directly with earlier periods.

The same results point to a business that is still being judged on cash, not just sales. Net free cash flow conversion was above 50% in 2025, which matters because cable groups often carry large working-capital swings and project timing can quickly reshape reported performance.

Cash return stayed visible

Nexans said it completed a EUR 70 million share buyback by 31 December 2025. That figure is useful because it gives a concrete capital-allocation signal alongside the operating numbers, and it shows that management ended the year with a measurable return of capital in addition to earnings delivery.

For investors, the combination of EUR 7.1 billion in sales, EUR 706 million in adjusted EBITDA, and above-50% free cash flow conversion defines the 2025 base case more clearly than a narrative about electrification alone. The market will usually focus next on whether that earnings quality can be maintained through the next reporting cycle.

Backlog matters most

Within Nexans, the most representative product and end-market exposure still comes from power transmission, electrification, and grid-related cabling, where order timing and project delivery can influence quarterly read-throughs. That mix explains why reported margin and cash generation often matter as much as top-line growth for the shares.

The 2025 numbers also suggest that the company is not being valued only as a commodity-linked manufacturer. A revenue base of EUR 7.1 billion, adjusted EBITDA of EUR 706 million, and free cash flow conversion above 50% all point to a business that is trying to hold pricing power and project discipline at the same time.

Stock level to watch

A dated market quote was not available in the search results, so the clearest current reference is the company’s latest reported 2025 financial base rather than a live price point. For a stock like Nexans, that still gives a useful anchor because the 2025 revenue, EBITDA, and cash conversion numbers frame the next valuation debate.