Oklo Inc (OKLO) AI Stock Analysis

• Market Cap: $10.66B
• Dividend Yield: N/A
• Average Volume (3M): 11.45M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.14
• Revenue Growth: N/A
• EPS Growth: 89.94%
• Country: US
• Employees: 120
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Electric
• EPS (TTM): -0.20
• Shares Outstanding: 156,247,070
• 10 Day Avg. Volume: 12,649,107
• 30 Day Avg. Volume: 11,452,675
• PEG Ratio: -0.48
• Price to Book (P/B): 8.37
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -54.20
• Enterprise Value/Market Cap: 0.87
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -95.77
• 1Y Price Target: $124.64
• Price Target Upside: 82.68% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 14
• EPS Forecast (FY): -0.63
• Revenue Forecast (FY): $1.86M

• Rating: 57 Neutral
• Price Target: $81.00 ▲(18.72% Upside)

The score is held back primarily by weak financial performance (no revenue, ongoing losses, and rising cash burn) and limited valuation support (negative P/E, no dividend). These are partly offset by a strong earnings-call outlook (substantial cash position, burn within guidance, and major deployment/regulatory and partnership milestones) and a mixed-to-moderate technical setup.

Positive Factors

Balance sheet strength

Oklo's very low leverage and substantially increased equity/assets provide durable financial runway for multi‑year licensing, construction and fuel‑cycle investments. This reduces near‑term refinancing risk and supports capital-intensive project execution central to commercializing plants.

Business model: long‑term contracted power sales

A build‑own‑operate model targeting long‑duration contracts (PPAs, capacity or service payments) creates predictable, recurring revenue potential once plants operate. That structural approach aligns incentives for long life‑cycle cash generation and scalable deployment.

Regulatory progress and fuel strategy

DOE pilot selection plus a planned Advanced Fuel Center and international partnerships materially de‑risk licensing and fuel supply over time. Strong regulatory pathways and integrated fuel strategy improve odds of on‑schedule deployments and long‑term operational control.

Negative Factors

Pre‑commercial losses

Oklo remains pre‑revenue with sustained operating losses, meaning long‑term profitability hinges entirely on successful licensing, construction and customer contracting. If commercialization timelines slip, structural margin recovery and returns may be materially delayed.

Negative cash generation and rising burn

Operating and free cash flow are persistently negative and have worsened TTM, increasing funding needs. Higher structural burn amplifies dilution risk and dependence on capital markets to finance multi‑year development and plant builds if revenue generation is delayed.

Supply chain and fuel cost uncertainty

Sustained HALEU supply constraints, tariffs and procurement volatility can raise long‑run operating costs and delay builds. For a company selling contracted power, higher or unpredictable fuel costs and supply bottlenecks structurally impair project economics and contract delivery certainty.

Oklo Inc Business Overview & Revenue Model

Company Description

Oklo Inc. designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.

How the Company Makes Money

Oklo Inc generates revenue primarily through the development, sale, and operation of its advanced nuclear reactors. The company secures contracts with utilities and industrial customers who require stable and sustainable energy solutions. Oklo's reactors are designed to be deployed in a variety of settings, offering flexibility to its clients. Additionally, Oklo may engage in strategic partnerships with governments and private entities to further expand its market reach and technological capabilities. Revenue streams are further enhanced by providing long-term operational support and maintenance services for the reactors, ensuring a continuous relationship with clients.

Oklo Inc Financial Statement Overview

Summary

Pre-revenue with persistent operating losses and increasing cash burn (TTM free cash flow more negative than 2024), which is a material risk. Offsetting this, the balance sheet is a clear strength with very low leverage and meaningfully higher equity/assets, supporting runway while the business remains pre-commercial.

Income Statement

Across 2021–2024 and TTM (Trailing-Twelve-Months), the company reports zero revenue and persistent operating losses, indicating a pre-commercial model with no meaningful margin profile yet. Losses have widened materially in TTM (Trailing-Twelve-Months) versus 2024 (EBIT roughly -$97.6M vs. -$52.8M) while maximizing runway will depend on funding rather than earnings power. A positive is that reported net loss in TTM (Trailing-Twelve-Months) is not dramatically worse than 2024, but overall profitability and operating leverage are still clearly negative.

Balance Sheet

The balance sheet is a key strength: leverage is extremely low, with debt minimal relative to equity in both 2024 and TTM (Trailing-Twelve-Months) (debt-to-equity near zero). Equity and total assets increased substantially from 2024 to TTM (Trailing-Twelve-Months), suggesting significant capitalization and improved balance-sheet support. The main weakness is that returns on equity are negative in the most recent periods due to ongoing losses, meaning the strong capital base is not yet translating into shareholder returns.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are consistently negative, reflecting ongoing cash burn. TTM (Trailing-Twelve-Months) free cash flow is more negative than 2024 (about -$68.5M vs. -$38.7M), indicating rising cash needs, although the reported free cash flow growth is positive in TTM (Trailing-Twelve-Months) versus the prior period. A relative positive is that free cash flow is broadly in line with net loss (free cash flow to net income near 1x in 2024 and TTM), suggesting losses are not being heavily understated by non-cash accounting—but the absolute burn remains the central risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00
EBITDA	-97.12M	-52.53M	-18.56M	-10.00M	-5.16M
Net Income	-74.51M	-73.62M	-32.17M	-10.02M	-5.16M
Balance Sheet
Total Assets	1.25B	281.74M	14.88M	10.99M	11.04M
Cash, Cash Equivalents and Short-Term Investments	921.60M	227.81M	9.87M	9.65M	10.44M
Total Debt	1.94M	1.28M	250.00K	304.18K	494.32K
Total Liabilities	40.63M	30.88M	49.25M	39.10M	4.74M
Stockholders Equity	1.21B	250.86M	-34.36M	-28.11M	6.30M
Cash Flow
Free Cash Flow	-68.54M	-38.74M	-16.08M	-10.14M	-1.94M
Operating Cash Flow	-62.21M	-38.39M	-16.00M	-9.99M	-1.88M
Investing Cash Flow	-587.71M	-175.77M	-83.00K	-149.56K	-500.00M
Financing Cash Flow	968.16M	301.43M	16.30M	9.35M	505.22M

Oklo Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 68.23
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OKLO, the sentiment is Negative. The current price of 68.23 is below the 20-day moving average (MA) of 89.46, below the 50-day MA of 88.62, and below the 200-day MA of 81.52, indicating a bearish trend. The MACD of -4.12 indicates Positive momentum. The RSI at 36.04 is Neutral, neither overbought nor oversold. The STOCH value of 12.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OKLO.

Oklo Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OGE	67 Neutral	$8.97B	17.37	10.69%	3.82%	18.03%	29.46%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
LNT	65 Neutral	$17.16B	20.94	11.46%	3.11%	7.76%	23.48%
IDA	65 Neutral	$7.24B	23.00	9.41%	2.72%	-1.58%	8.49%
PNW	65 Neutral	$11.25B	19.23	8.62%	4.15%	5.70%	-8.25%
TXNM	60 Neutral	$6.42B	34.43	6.02%	2.80%	10.65%	-10.67%
OKLO	57 Neutral	$10.66B	―	-10.14%	―	―	89.94%

Oklo Inc Corporate Events

Oklo Inc. Announces $1.5 Billion Equity Distribution

On December 4, 2025, Oklo Inc. entered into an equity distribution agreement with several major financial institutions, allowing the company to offer and sell shares of its Class A common stock, potentially raising up to $1.5 billion. This agreement enables Oklo Inc. to conduct an ‘at the market’ equity offering, providing flexibility in selling shares through various market venues, with the sales agents receiving a commission for their services. This move is expected to impact Oklo Inc.’s financial strategy and market presence, as it allows the company to raise significant capital while maintaining control over the timing and pricing of the stock sales.

The most recent analyst rating on (OKLO) stock is a Hold with a $95.00 price target. To see the full list of analyst forecasts on Oklo Inc stock, see the OKLO Stock Forecast page.