Centrus Energy (LEU) AI Stock Analysis

• Market Cap: $4.10B
• Dividend Yield: N/A
• Average Volume (3M): 970.38K
• Price to Earnings (P/E): 56.1
• Beta (1Y): 1.76
• Revenue Growth: 15.25%
• EPS Growth: 37.48%
• Country: US
• Employees: 322
• Sector: Energy
• Sector Strength: 52
• Industry: Uranium
• EPS (TTM): 0.79
• Shares Outstanding: 18,945,366
• 10 Day Avg. Volume: 756,204
• 30 Day Avg. Volume: 970,377
• PEG Ratio: -15.73
• Price to Book (P/B): 5.70
• Price to Sales (P/S): 9.72
• P/FCF Ratio: 139.35
• Enterprise Value/Market Cap: 0.77
• Enterprise Value/Revenue: 7.00
• Enterprise Value/Gross Profit: 26.74
• Enterprise Value/Ebitda: 28.62
• 1Y Price Target: $277.42
• Price Target Upside: 33.08% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 14
• EPS Forecast (FY): 3.29
• Revenue Forecast (FY): $464.26M

• Rating: 54 Neutral
• Price Target: $213.00 ▲(2.18% Upside)
• Action: Downgraded Date: 02/12/26
• Date: Action: Downgraded 02/12/26

The score is held back primarily by middling financial quality (margin compression, higher leverage, and weak/volatile cash conversion) and an expensive valuation (P/E ~66 with no dividend yield provided). These are partly offset by a strong earnings-call backdrop featuring substantial backlog, significant DOE HALEU funding potential, and strong liquidity, though near-term momentum indicators are mixed-to-soft.

Positive Factors

Large multi‑year backlog

A $3.8B backlog extending toward 2040 gives multi‑year revenue visibility tied to reactor demand. This supports production planning, capital deployment and long‑range cash flow expectations, reducing near‑term market exposure and underpinning scale for enrichment operations.

Significant DOE HALEU award

The DOE task order materially de‑risks HALEU commercialization funding and underwrites capacity expansion to target 12 MT/year. Government backing enhances project financing certainty, strengthens strategic national‑security positioning, and supports long‑term contracted revenues.

Domestic manufacturing and EPC tie‑ups

Building domestic centrifuge production and partnering with Fluor shore up supply‑chain control and construction execution capacity. Localized manufacturing, EPC oversight and DOE waivers position Centrus as a first mover for U.S. enrichment capacity ahead of import restrictions, supporting durable competitive advantage.

Negative Factors

Elevated leverage

Higher debt levels constrain financial flexibility and raise refinancing and interest‑coverage risks as capital deployment accelerates. Even with improved equity, elevated leverage increases sensitivity to project delays, potentially forcing higher-cost financing or dilution to fund HALEU and Piketon buildouts.

Weak cash conversion & volatile FCF

Low operating cash conversion and volatile free cash flow signal earnings quality and working‑capital timing issues. This limits self‑funding for capex‑intensive HALEU and centrifuge projects, making the company more reliant on external capital during a prolonged multi‑year build‑out.

Execution and supplier timing risk

Long lead items, supply‑chain readiness and complex multi‑year construction introduce substantial schedule and cost risk. Delays can defer backlog realization, compress margins (as seen with shipment timing), and increase capital needs, making successful multi‑year execution critical to realize projected returns.

Centrus Energy Business Overview & Revenue Model

Company Description

Centrus Energy Corp. supplies nuclear fuel and services for the nuclear power industry in the United States, Japan, Belgium, and internationally. The company operates through two segments, Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment sells separative work units (SWU) component of LEU; SWU and natural uranium components of LEU; and natural uranium for utilities that operate nuclear power plants. The Technical Solutions segment offers technical, manufacturing, engineering, procurement, construction, and operations services to public and private sector customers, including the American Centrifuge engineering and testing activities. The company was formerly known as USEC Inc. and changed its name to Centrus Energy Corp. in September 2014. Centrus Energy Corp. was incorporated in 1998 and is headquartered in Bethesda, Maryland.

How the Company Makes Money

Centrus primarily makes money by selling nuclear fuel products and providing nuclear fuel-cycle services under customer contracts. A key revenue stream is the sale of low-enriched uranium (LEU) to nuclear power customers, typically structured through multi-year supply arrangements where Centrus sources enrichment and/or uranium products and delivers specified quantities to customers over time. In addition to commercial LEU-related sales, Centrus generates revenue from work performed for the U.S. government tied to domestic enrichment capabilities and advanced fuel initiatives, including activities related to HALEU production and associated engineering, operational, and technical services under contracted or award-based arrangements. The company’s earnings are influenced by contract volumes and pricing terms, its ability to source and deliver enrichment/fuel products reliably, and the pace of government and industry demand for HALEU and other domestically supplied nuclear fuel solutions. Specific counterparties, contract pricing formulas, and segment-level revenue breakdowns are null.

Centrus Energy Financial Statement Overview

Summary

Profitability remains solid (FY2025 net margin ~17%), but the latest period shows weakening growth and margin compression versus prior years. Balance sheet capitalization improved (now positive equity), yet leverage remains elevated with debt rising to ~${1.21}B in 2025. Cash flow quality is the biggest drag: operating cash flow conversion is low (~12% of net income in 2025) and free cash flow is volatile with sharply negative FCF growth in 2025.

Income Statement

Revenue expanded strongly from 2020 to 2024 (about $247M to $442M), but growth turned sharply negative in 2025 (annual revenue down materially to ~$449M with a reported negative growth rate). Profitability remains solid in 2025 with a gross margin around 26% and a net margin around 17%, though both are well below the stronger 2021–2023 levels and EBITDA margin also stepped down versus 2024. Overall, the income profile is profitable but shows meaningful margin compression and a weakening growth trajectory in the most recent period.

Balance Sheet

The balance sheet improved structurally over time, moving from negative equity in 2020–2022 to positive equity by 2023–2025, which is a clear credit-positive shift. However, leverage is still a key risk: total debt rose substantially in 2025 (to ~${1.21}B) and debt remains high relative to equity (about 1.6x in 2025, though better than 2023–2024 levels that were much higher). Asset base increased significantly in 2025, and return on equity normalized to ~10% in 2025 after unusually elevated/volatile levels in prior years. Net: improving capitalization trend, but elevated debt load keeps the score mid-range.

Cash Flow

Cash generation is positive but inconsistent. Operating cash flow in 2025 (~$51M) improved from 2024, yet free cash flow fell slightly versus 2024 and the reported free cash flow growth rate in 2025 is sharply negative, signaling a major step-down versus the prior year’s baseline. Cash conversion is mixed: free cash flow is a moderate share of net income in 2025 (roughly 61%), and operating cash flow remains a low share of net income across years (about 12% in 2025 and low-to-mid teens in 2024), suggesting earnings quality and working-capital timing are ongoing watch items.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	448.70M	442.00M	320.20M	293.80M	298.30M
Gross Profit	117.50M	111.50M	112.10M	117.90M	114.50M
EBITDA	109.80M	86.50M	92.90M	77.90M	144.60M
Net Income	77.80M	73.20M	84.40M	52.20M	175.00M
Balance Sheet
Total Assets	2.45B	1.10B	796.20M	705.50M	572.40M
Cash, Cash Equivalents and Short-Term Investments	1.96B	701.40M	201.20M	179.90M	193.80M
Total Debt	1.21B	547.20M	177.10M	169.80M	134.20M
Total Liabilities	1.68B	937.60M	763.90M	779.60M	714.30M
Stockholders Equity	765.10M	161.40M	32.30M	-74.10M	-141.90M
Cash Flow
Free Cash Flow	31.30M	32.90M	7.50M	19.90M	48.80M
Operating Cash Flow	51.00M	37.00M	9.10M	20.60M	50.00M
Investing Cash Flow	-19.70M	-4.10M	-1.60M	-700.00K	-1.20M
Financing Cash Flow	1.22B	437.10M	13.90M	-4.30M	-9.90M

Centrus Energy Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 208.46
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LEU, the sentiment is Negative. The current price of 208.46 is above the 20-day moving average (MA) of 204.65, below the 50-day MA of 248.92, and below the 200-day MA of 248.78, indicating a neutral trend. The MACD of -8.47 indicates Negative momentum. The RSI at 45.87 is Neutral, neither overbought nor oversold. The STOCH value of 65.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LEU.

Centrus Energy Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FRO	68 Neutral	$7.16B	12.81	15.91%	4.32%	-13.41%	-60.18%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
NOV	58 Neutral	$6.58B	40.10	2.26%	3.24%	-1.43%	-63.13%
UUUU	56 Neutral	$4.52B	-39.51	-13.16%	―	103.69%	-126.48%
LEU	54 Neutral	$4.10B	56.06	18.29%	―	15.25%	37.48%
UEC	53 Neutral	$6.63B	-149.77	-7.09%	―	189.19%	-38.15%
URG	49 Neutral	$548.31M	-6.84	-76.17%	―	138.94%	-62.94%

Centrus Energy Corporate Events

Centrus Energy Updates Bylaws, Tightens Governance and Disputes

On March 10, 2026, Centrus Energy Corp.’s board adopted Fourth Amended and Restated Bylaws that clarify its stockholder voting standard without changing the substantive requirements, aligning the language with the company’s existing practice. The revisions also implement detailed nomination and proxy card requirements for stockholder-nominated director candidates under the U.S. universal proxy regime, including color restrictions on proxy cards and conditions under which the company may disregard votes for noncompliant nominees.

The new bylaws further establish Delaware’s Court of Chancery, or other Delaware courts where jurisdiction requires, as the exclusive forum for key corporate law, derivative, and internal affairs disputes, while reserving U.S. federal district courts as the exclusive forum for Securities Act claims. These governance changes strengthen Centrus Energy’s control over shareholder nomination procedures and legal dispute venues, potentially reducing litigation uncertainty and tightening oversight of activist or dissident campaigns.

The most recent analyst rating on (LEU) stock is a Hold with a $211.00 price target. To see the full list of analyst forecasts on Centrus Energy stock, see the LEU Stock Forecast page.

Centrus Partners With Fluor to Expand Uranium Enrichment

On February 9, 2026, Centrus subsidiary American Centrifuge Operating entered an engineering, procurement and construction agreement with Fluor Federal Services to design, build and commission a commercial uranium enrichment facility expansion in Piketon, Ohio. The time-and-materials contract, which includes standard project protections such as warranties, indemnities, liability limits and staged funding with defined termination fees in the first year, forms a central element of Centrus’ previously announced multi‑billion‑dollar investment to scale its enrichment operations.

Announced publicly on February 11, 2026, the Fluor partnership marks a major step as Centrus moves from pilot operations to large‑scale deployment, with Fluor overseeing multi‑year engineering, supply chain management, construction and commissioning of new capacity at Piketon. The project is intended to support large‑scale low‑enriched uranium output to serve a $2.3 billion commercial backlog and growing reactor demand, complement planned 12‑metric‑ton HALEU capacity and a recently awarded $900 million U.S. Department of Energy task order, and strengthen Centrus’ role as the only production‑ready option for certain national security enrichment missions while bringing investment and jobs to Ohio and Tennessee.

The most recent analyst rating on (LEU) stock is a Hold with a $245.00 price target. To see the full list of analyst forecasts on Centrus Energy stock, see the LEU Stock Forecast page.

Centrus Energy Expands Tennessee Facility for Advanced Enrichment

On January 23, 2026, Centrus Energy announced a major expansion of its Technology & Manufacturing Center in Oak Ridge, Tennessee, converting it into a high-rate manufacturing plant for advanced uranium enrichment centrifuges. The company plans to invest more than $560 million and create nearly 430 new jobs in Anderson County over the next several years, with the first new centrifuges from Tennessee expected to begin operating at Centrus’s expanding Ohio enrichment plant in 2029. State officials highlighted the project as reinforcing Tennessee’s growing role as a hub for nuclear innovation and clean energy, while Centrus and local leaders framed the move as a significant step in rebuilding U.S. uranium enrichment capacity, strengthening energy security and delivering long-term economic benefits to the Oak Ridge region.

The most recent analyst rating on (LEU) stock is a Hold with a $344.00 price target. To see the full list of analyst forecasts on Centrus Energy stock, see the LEU Stock Forecast page.