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NuScale Power (SMR)
NYSE:SMR
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NuScale Power
(NYSE:SMR)
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Rating:42Neutral
Price Target:―
NuScale Power's overall stock score reflects a company with strong revenue growth and strategic advancements in the SMR market, yet facing significant challenges with profitability and valuation. The financial performance struggles to maintain positive cash flows and earnings, impacting its attractiveness. Despite positive sentiment from the latest earnings call, the technical indicators and valuation concerns contribute to a cautious overall outlook.
Positive Factors
Revenue Growth
NuScale's substantial revenue growth indicates strong market demand for its SMR technology, enhancing its competitive position and long-term growth potential.
Strategic Positioning
Having NRC Design Certification gives NuScale a significant competitive advantage, positioning it as a leader in the SMR market and facilitating faster deployment.
Cash Position
A strong cash position enhances NuScale's ability to invest in R&D and expansion, supporting long-term strategic initiatives and operational resilience.
Negative Factors
Profitability Challenges
Ongoing net losses highlight significant challenges in achieving profitability, which could impact NuScale's ability to sustain operations without additional financing.
Negative Cash Flow
Negative cash flow raises concerns about NuScale's operational sustainability and reliance on external financing, which may affect long-term financial stability.
Complexity in Agreements
Difficulties in securing long-term agreements may delay revenue realization and hinder strategic partnerships, impacting NuScale's market expansion efforts.
NuScale Power (SMR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.53B
Dividend YieldN/A
Average Volume (3M)24.75M
Price to Earnings (P/E)―
Beta (1Y)2.96
Revenue Growth765.67%
EPS Growth-202.81%
CountryUS
Employees330
SectorIndustrials
Sector Strength72
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-1.85
Shares Outstanding133,893,370
10 Day Avg. Volume22,810,375
30 Day Avg. Volume24,754,424
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)2.70
Price to Sales (P/S)45.13
P/FCF Ratio-15.38
Enterprise Value/Market Cap0.56
Enterprise Value/Revenue66.14
Enterprise Value/Gross Profit99.06
Enterprise Value/Ebitda-6.83
Forecast
1Y Price Target
$38.35Price Target Upside43.42% Upside
Rating ConsensusHold
Number of Analyst Covering12
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
NuScale Power Business Overview & Revenue Model
Company DescriptionNuScale Power Corporation is a pioneering energy company focused on the development and commercialization of small modular reactors (SMRs) for the nuclear power industry. Based in the United States, NuScale specializes in providing scalable and flexible nuclear power solutions designed to offer safe, reliable, and carbon-free energy. The company's flagship product, the NuScale Power Module, is a small, factory-fabricated nuclear reactor that offers a cost-effective and efficient alternative to traditional nuclear power plants.
How the Company Makes MoneyNuScale Power makes money primarily through the development and sale of its small modular reactors (SMRs). The company generates revenue by licensing its SMR technology to utility companies and other energy providers seeking to deploy nuclear power solutions. Additionally, NuScale may earn income from engineering and consulting services related to the implementation and maintenance of its nuclear reactors. Significant partnerships with government entities, such as the U.S. Department of Energy, and strategic alliances with energy companies around the world further contribute to its revenue streams by facilitating research, development, and deployment support for its advanced nuclear technologies.
NuScale Power Earnings Call Summary
Earnings Call Date:Sep 30, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 12, 2026
Earnings Call Sentiment Positive
The earnings call presented strong strategic advancements, notably the agreement with TVA and InterOne, and robust financial performance with increased liquidity and revenue. However, concerns about the partnership with InterOne and substantial milestone payments were noted. The positive developments appear to outweigh the challenges, indicating optimism for NuScale Power Corporation's future.Q3-2025 Updates
Positive Updates
Strong Liquidity Increase
NuScale Power Corporation's overall liquidity increased to $753.8 million as of September 30, 2025, from $489.9 million as of June 30, 2025, driven by the sale of 13.2 million Class A shares, generating $475.2 million in gross proceeds.
Significant Strategic Partnership
NuScale Power Corporation announced a landmark agreement with TVA and InterOne Energy to deploy six gigawatts of SMR technology, marking the largest SMR deployment program in U.S. history.
Increased Revenue
Reported revenue increased to $8.2 million for the quarter ended September 30, 2025, compared to $5 million during the same period in the prior year, driven by services provided to the Row Power project.
U.S.-Japan Framework Agreement
InterOne positioned to receive up to $25 billion in investment capital as part of a U.S.-Japan framework agreement to expand critical energy infrastructure.
Negative Updates
Significant Milestone Payment
NuScale Power Corporation made a $148.5 million payment related to the PMA milestone triggered by the TVA and InterOne agreement, impacting cash flow.
Uncertainty Around InterOne Partnership
Questions arose about InterOne's capability to execute large-scale projects due to limited publicly available information on their past projects and operational experience.
Company Guidance
During NuScale Power Corporation's third quarter 2025 earnings call, the company provided significant guidance on its strategic initiatives and financial outlook. NuScale highlighted their pivotal partnership with InterOne and the Tennessee Valley Authority (TVA) to deploy up to six gigawatts of new nuclear capacity, marking the largest small modular reactor (SMR) deployment in U.S. history. This partnership includes the potential deployment of approximately 72 NuScale modules across multiple sites, with the first power delivery anticipated by 2030. The company also emphasized its strengthened cash position, reporting an increase in liquidity to $753.8 million as of September 30, 2025, driven by the sale of Class A shares. Additionally, NuScale discussed a $148.5 million payment related to a Partnership Milestone Agreement (PMA) with InterOne, designed to accelerate commercialization. The call also addressed the strategic agreement with Fluor, enabling the monetization of its investment in NuScale, and underscored the favorable market conditions and regulatory policies driving demand for NuScale’s carbon-free power solutions.NuScale Power Financial Statement Overview
Summary
NuScale Power shows strong revenue growth and improved financial structure with decreasing reliance on debt. However, persistent negative earnings and cash flows highlight challenges in achieving profitability. The company's financial health shows signs of improvement, yet achieving stable positive cash flow and net income remains critical for long-term success.Income Statement
NuScale Power has shown significant revenue growth, increasing from $600,000 in 2020 to $37,045,000 in 2024. However, the company consistently reports negative EBIT and net income, indicating ongoing profitability challenges. Gross profit margins have improved but remain overshadowed by substantial operating losses. The trend suggests aggressive expansion or R&D activities, but the lack of profitability is a concern.30
Negative
Balance Sheet
The company's balance sheet reflects substantial equity growth, with stockholders' equity turning positive in recent years. With zero total debt in 2024, the debt-to-equity ratio is favorable, showcasing financial prudence. However, the equity ratio is low, and the company has historically negative equity, indicating ongoing recovery from financial distress. Asset growth is evident, but sustained profitability is necessary for long-term stability.40
Negative
Cash Flow
NuScale Power has managed to improve its cash position significantly, with cash and short-term investments increasing over the years. Despite negative operating cash flow, the company has successfully raised financing, supporting operations and investments. However, free cash flow remains negative, raising concerns about the sustainability of operations without new financing.35
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.90M | 37.05M | 22.81M | 11.80M | 2.86M | 600.00K |
| Gross Profit | 42.66M | 32.11M | 3.85M | 4.49M | 1.09M | 245.00K |
| EBITDA | -618.34M | -133.65M | -273.01M | -227.30M | -172.10M | -156.76M |
| Net Income | -379.94M | -136.62M | -58.36M | -57.07M | -102.49M | -88.39M |
Balance Sheet | ||||||
| Total Assets | 883.13M | 544.67M | 224.86M | 348.63M | 121.20M | 47.06M |
| Cash, Cash Equivalents and Short-Term Investments | 691.78M | 441.56M | 120.27M | 267.69M | 77.09M | 4.86M |
| Total Debt | 0.00 | 0.00 | 2.94M | 4.35M | 15.69M | 36.89M |
| Total Liabilities | 448.32M | 91.55M | 95.52M | 71.55M | 52.80M | 74.06M |
| Stockholders Equity | 828.71M | 618.70M | 93.46M | 114.68M | 195.86M | -29.14M |
Cash Flow | ||||||
| Free Cash Flow | -282.57M | -108.71M | -184.98M | -150.94M | -101.11M | -50.76M |
| Operating Cash Flow | -282.32M | -108.67M | -183.25M | -148.61M | -99.16M | -47.23M |
| Investing Cash Flow | -301.38M | -39.85M | 48.27M | -52.33M | -1.95M | -3.53M |
| Financing Cash Flow | 879.66M | 429.81M | 16.13M | 368.06M | 173.34M | 38.49M |
NuScale Power Technical Analysis
Negative
26.74
Price Trends
38.66
Negative
39.62
Negative
30.79
Negative
Market Momentum
-3.22
Positive
33.56
Neutral
4.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SMR, the sentiment is Negative. The current price of 26.74 is below the 20-day moving average (MA) of 37.70, below the 50-day MA of 38.66, and below the 200-day MA of 30.79, indicating a bearish trend. The MACD of -3.22 indicates Positive momentum. The RSI at 33.56 is Neutral, neither overbought nor oversold. The STOCH value of 4.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SMR.
NuScale Power Risk Analysis
NuScale Power disclosed 47 risk factors in its most recent earnings report. NuScale Power reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NuScale Power Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $6.91B | 52.02 | 5.45% | 0.45% | 6.07% | 12.07% | |
70 Neutral | $7.12B | 15.08 | 13.20% | 5.35% | 2.54% | 124.89% | |
70 Neutral | $7.12B | 14.23 | 13.20% | 5.69% | 2.54% | 124.89% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $2.68B | 25.75 | 7.64% | ― | 42.09% | 219.69% | |
56 Neutral | $7.94B | ― | -38.17% | 3.32% | 5.93% | -39.88% | |
42 Neutral | $7.53B | ― | -76.85% | ― | 765.67% | -202.81% |
* Industrials Sector Average
SMR
NuScale Power
25.96
0.98
3.92%
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111.32
32.58
41.38%
CWEN
Clearway Energy
35.71
10.31
40.59%
CWEN.A
Clearway Energy
33.70
9.93
41.78%
BEPC
Brookfield Renewable
42.03
13.51
47.37%
RNW
ReNew Energy Global
7.33
2.11
40.42%
NuScale Power Corporate Events
Financial Disclosures
NuScale Power Schedules Q1 2025 Earnings Call
Neutral
Apr 10, 2025
NuScale Power Corporation announced it will hold a conference call on May 12, 2025, to discuss its first quarter 2025 financial results. This update is significant as it provides stakeholders with insights into the company’s operational and financial performance, potentially impacting its market positioning and investor relations.
Spark’s Take on SMR Stock
According to Spark, TipRanks’ AI Analyst, SMR is a Neutral.
NuScale Power’s stock score reflects strong revenue growth and strategic advancements in the SMR market, offset by ongoing profitability challenges and technical weaknesses. While the company shows potential with its cash reserves and strategic partnerships, its financial performance and valuation metrics suggest caution.
To see Spark’s full report on SMR stock, click here.
Financial Disclosures
NuScale Power Reschedules 2024 Earnings Call to March 2025
Neutral
Feb 25, 2025
NuScale Power Corporation has rescheduled its earnings conference call to discuss the fourth quarter and full year 2024 results, now set for March 3, 2025. This change may impact stakeholders’ expectations and planning as they await the company’s financial performance insights, which are critical for assessing NuScale’s market position and future growth potential.
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.