Yellow Cake plc (GB:YCA)
LSE:YCA
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Yellow Cake plc
(LSE:YCA)
Select Model
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Rating:55Neutral
Price Target:
674.00 p
▲(22.10% Upside)
Action:N/ADate:01/04/26
The score is held back primarily by weak and inconsistent financial performance, especially persistently negative cash flow and volatile earnings, despite a low-risk (zero-debt) balance sheet. Technicals are supportive with a strong uptrend, but near-overbought momentum and a negative P/E limit the overall score.
Positive Factors
Pure-play uranium exposure
Yellow Cake's business model is a straightforward, durable exposure to physical uranium prices via holding U3O8. That asset-only model avoids mining operational risk, is scalable through inventory purchases, and appeals to investors seeking long-term commodity exposure.
Negative Factors
Persistent negative cash flow
Consistently negative operating and free cash flow undermines liquidity and forces reliance on financing or asset sales to meet obligations. Over time this weakens the company's ability to accumulate inventory organically and raises questions about the sustainability of reported gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Pure-play uranium exposure
Yellow Cake's business model is a straightforward, durable exposure to physical uranium prices via holding U3O8. That asset-only model avoids mining operational risk, is scalable through inventory purchases, and appeals to investors seeking long-term commodity exposure.
Read all positive factors
Yellow Cake plc (YCA) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.52B
Dividend YieldN/A
Average Volume (3M)1.87M
Price to Earnings (P/E)1.1
Beta (1Y)1.17
Revenue GrowthN/A
EPS Growth-115.51%
CountryUK
Employees2
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)1.29
Shares Outstanding252,659,180
10 Day Avg. Volume1,683,866
30 Day Avg. Volume1,874,876
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.83
Price to Sales (P/S)-2.57
P/FCF Ratio-89.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£709.00Price Target Upside28.44% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)1.09
Revenue Forecast (FY)N/A
Yellow Cake plc Business Overview & Revenue Model
Company Description
Yellow Cake plc, a specialist company, operates in the uranium sector. It is involved in the purchase and holding of uranium oxide concentrates; and exploitation of other uranium-related opportunities. The company was incorporated in 2018 and is h...
How the Company Makes Money
Yellow Cake primarily makes money by increasing the value of its investment portfolio as uranium prices rise. Its key economic driver is the change in the market value of its physical uranium holdings (and any additional uranium it acquires), whic...
Yellow Cake plc Financial Statement Overview
Summary
Income Statement
43
Neutral
Balance Sheet
78
Positive
Cash Flow
29
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -375.10M | -456.11M | 735.02M | -96.90M | -5.96M | 1.32M |
| Gross Profit | -375.10M | -456.11M | 735.02M | -97.13M | -7.84M | 1.04M |
| EBITDA | 374.22M | -471.30M | 722.72M | -1.77M | 417.18M | -1.96M |
| Net Income | -7.39M | -469.23M | 727.01M | -102.94M | 417.27M | 29.91M |
Balance Sheet | ||||||
| Total Assets | 1.96B | 1.42B | 1.89B | 1.04B | 1.07B | 428.38M |
| Cash, Cash Equivalents and Short-Term Investments | 184.18M | 20.01M | 133.19M | 84.43M | 153.14M | 126.16M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 5.26M | 3.40M | 3.54M | 1.93M | 970.00K | 6.98M |
| Stockholders Equity | 1.96B | 1.41B | 1.88B | 1.04B | 1.07B | 421.39M |
Cash Flow | ||||||
| Free Cash Flow | -11.69M | -13.17M | -6.48M | -5.17M | -9.23M | 509.00K |
| Operating Cash Flow | -11.69M | -13.17M | -6.48M | -5.17M | -9.23M | 509.00K |
| Investing Cash Flow | 0.00 | -100.00M | -66.02M | -132.69M | -193.96M | -5.07M |
| Financing Cash Flow | 169.80M | 0.00 | 121.26M | 69.20M | 230.13M | 124.26M |
Yellow Cake plc Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | £4.40B | -42.84 | -3.13% | 14.05% | 41.95% | -140.18% | |
69 Neutral | £5.33B | -24.34 | -4.05% | 8.77% | 57.55% | -54.80% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | £1.63B | -8.35 | -65.81% | 10.99% | 27.35% | -228.25% | |
55 Neutral | £1.52B | 1.11 | -0.44% | ― | ― | -115.51% | |
46 Neutral | £3.75M | 118.61 | -12.73% | ― | -88.25% | -905.77% |
* Energy Sector Average
GB:YCA
Yellow Cake plc
602.50
148.90
32.83%
GB:HBR
Harbour Energy
293.00
142.08
94.15%
GB:THAL
Thalassa Holdings
22.50
0.00
0.00%
GB:ENOG
Energean
881.50
105.07
13.53%
GB:ITH
Ithaca Energy PLC
266.00
146.75
123.06%
Yellow Cake plc Corporate Events
Business Operations and Strategy
Yellow Cake boosts uranium holdings with new deliveries and purchase commitments
Positive
Mar 17, 2026
Yellow Cake plc, a specialist uranium holding company, has expanded its physical uranium position through deliveries and new purchase commitments with key suppliers. The strategy underscores its role as a vehicle for exposure to uranium prices and...
Business Operations and StrategyPrivate Placements and Financing
Yellow Cake Raises US$110m to Expand Physical Uranium Holdings
Positive
Feb 12, 2026
Yellow Cake plc has raised approximately US$110 million through an oversubscribed placing of 12,818,760 new shares at £6.29 each with existing and new institutional investors, increasing the deal size from the originally targeted US$75 millio...
Business Operations and StrategyPrivate Placements and Financing
Yellow Cake to Raise US$75m to Maximise 2026 Kazatomprom Uranium Option
Positive
Feb 11, 2026
Yellow Cake plc plans to raise at least US$75 million through a non-pre-emptive placing of new shares at £6.29 each, with the accelerated bookbuild aimed at institutional investors. The proceeds, together with existing cash, will fund the pur...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Yellow Cake Expands Uranium Holdings as Nuclear Power Demand Accelerates
Positive
Jan 30, 2026
Yellow Cake reported a modest 0.5% decline in the value of its uranium holdings to US$1.77bn and a similar decrease in net asset value per share to £6.03 in the quarter to 31 December 2025, reflecting a slight softening in the spot uranium pr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.