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NuScale Power
(NYSE:SMR)
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Rating:50Neutral
Price Target:
$9.50
▲(17.43% Upside)
Action:Reiterated
Date:08/17/26
The score is held down primarily by weak financial performance—shrinking recent revenues, large losses, and accelerating cash burn. Offsetting factors include a low-debt balance sheet, strong reported liquidity and commercialization-readiness progress discussed on the earnings call, while technicals and valuation signals are mixed and do not meaningfully improve the risk/reward profile.
Positive Factors
Regulatory and Fuel Readiness
NRC certification and access to conventional fuel reduce regulatory and supply-chain barriers versus less-developed reactor designs. This strengthens NuScale’s positioning as customers evaluate deployment timelines and lowers exposure to HALEU availability risk.
Negative Factors
Severe Revenue Contraction
The sharp revenue decline shows that NuScale has not yet established a dependable commercial revenue base. With product and services revenue tied to project activity, delays or gaps between development phases can produce substantial volatility and limit operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory and Fuel Readiness
NRC certification and access to conventional fuel reduce regulatory and supply-chain barriers versus less-developed reactor designs. This strengthens NuScale’s positioning as customers evaluate deployment timelines and lowers exposure to HALEU availability risk.
Read all positive factors
NuScale Power (SMR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.95B
Dividend YieldN/A
Average Volume (3M)30.25M
Price to Earnings (P/E)―
Beta (1Y)3.41
Revenue Growth-80.95%
EPS Growth-91.30%
CountryUS
Employees428
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-2.57
Shares Outstanding410,389,530
10 Day Avg. Volume31,251,139
30 Day Avg. Volume30,249,927
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)1.98
Price to Sales (P/S)73.70
P/FCF Ratio-5.04
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$11.83Price Target Upside46.27% Upside
Rating ConsensusHold
Number of Analyst Covering12
EPS Forecast (FY)-0.52
Revenue Forecast (FY)$25.76M
NuScale Power Business Overview & Revenue Model
Company Description
NuScale Power Corporation provides proprietary and innovative small modular reactor (SMR) nuclear technology. The company's mission is to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. Its pr...
How the Company Makes Money
NuScale’s revenue model is primarily based on monetizing its SMR technology through a combination of service and licensing-related activities tied to project development and commercialization.
Key revenue streams include:
- Engineering, design, a...
NuScale Power Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call emphasized NuScale's strong commercial readiness: unique NRC certification, conventional fuel supply, mature engineering, key supplier partners with long‑lead items in production, and a fortified liquidity position ($1.9B). However, the company currently generates almost no recurring product revenue (Q2 revenue $0.1M, down ~98.8% year‑over‑year) and remains dependent on third‑party milestones (ENTRA1/TVA PPAs, RoPower prime contractor and government approvals). While risks and timing uncertainty persist, management presented a clear path to commercialization and significant de‑risking actions already taken.Positive Updates
Regulatory and Fuel Readiness
Only SMR company with U.S. NRC design certification (including standard design approvals for 2 designs); uses conventional low-enriched uranium (LEU) available today, avoiding HALEU supply risk.
Negative Updates
Sharp Revenue Decline
Reported revenue of $0.1 million for Q2 2026 versus $8.1 million in Q2 2025 — a year‑over‑year decline of approximately 98.8% due to completion of Fluor FEED Phase 2 work in late 2025 and no comparable activity in the current quarter.
Read all updates
Q2-2026 Updates
Positive
Negative
Regulatory and Fuel Readiness
Only SMR company with U.S. NRC design certification (including standard design approvals for 2 designs); uses conventional low-enriched uranium (LEU) available today, avoiding HALEU supply risk.
Read all positive updates
Company Guidance
NuScale’s Q2 2026 guidance stressed near‑term commercial readiness: revenue was $0.1M for the quarter (vs. $8.1M year‑ago), cash, cash equivalents and investments totaled ≈$1.9B (up ≈$900M since Mar‑31‑2026) with ≈$800M moved into longer‑term investments; the company holds NRC design certification (including two standard design approvals), has a supply chain of >60 specialized suppliers (more than half under negotiated agreements), long‑lead forgings have been in production for ~2 years, it references 12 NuScale modules and the opening of its 12th E2 training center, expects ~60% of prior COLA work to be reusable, estimates OEM costs at ~30% of project cost, and said product and services revenue should grow as project activity advances (RoPower could generate revenue next year and commercialization will proceed once definitive PPAs such as TVA are signed).NuScale Power Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
70
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.69M | 31.48M | 37.05M | 22.81M | 11.80M | 2.86M |
| Gross Profit | 2.25M | 11.43M | 32.11M | 3.85M | 4.49M | 1.09M |
| EBITDA | -691.69M | -662.94M | -133.65M | -177.56M | -138.88M | -98.58M |
| Net Income | -415.70M | -355.79M | -136.62M | -58.36M | -57.07M | -102.49M |
Balance Sheet | ||||||
| Total Assets | 2.05B | 1.41B | 544.67M | 224.86M | 348.63M | 121.20M |
| Cash, Cash Equivalents and Short-Term Investments | 1.07B | 1.25B | 441.56M | 120.27M | 267.69M | 77.09M |
| Total Debt | 5.94M | 0.00 | 0.00 | 2.94M | 4.35M | 15.44M |
| Total Liabilities | 35.54M | 298.96M | 91.55M | 95.52M | 71.55M | 54.94M |
| Stockholders Equity | 2.06B | 1.17B | 618.70M | 93.46M | 114.68M | 66.26M |
Cash Flow | ||||||
| Free Cash Flow | -776.87M | -460.12M | -108.71M | -184.98M | -150.94M | -101.11M |
| Operating Cash Flow | -776.36M | -459.61M | -108.67M | -183.25M | -148.61M | -99.16M |
| Investing Cash Flow | -936.78M | -411.26M | -39.85M | 48.27M | -52.33M | -1.95M |
| Financing Cash Flow | 2.15B | 1.31B | 429.81M | 16.13M | 368.06M | 173.34M |
NuScale Power Technical Analysis
Negative
8.09
Price Trends
9.35
Negative
10.44
Negative
14.46
Negative
Market Momentum
0.03
Negative
44.82
Neutral
14.05
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 8.09 is below the 20-day moving average (MA) of 8.99, below the 50-day MA of 9.35, and below the 200-day MA of 14.46, indicating a bearish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 44.82 is Neutral, neither overbought nor oversold. The STOCH value of 14.05 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 40 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 |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $15.72B | 44.21 | 27.92% | 0.60% | 22.70% | 20.60% | |
61 Neutral | $2.49B | 22.43 | 8.54% | ― | 14.06% | 11.99% | |
58 Neutral | $7.01B | 54.76 | 4.96% | 0.48% | 31.13% | -4.27% | |
50 Neutral | $3.95B | -3.58 | -31.82% | ― | -80.95% | -91.30% | |
48 Neutral | $6.40B | -1.35 | 243.54% | 3.84% | -2.38% | -301.98% |
* Industrials Sector Average
SMR
NuScale Power
8.64
-24.01
-73.54%
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109.68
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18.73%
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165.01
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33.52
1.23
3.81%
RNW
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6.82
-0.93
-12.00%
NuScale Power Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
NuScale Power Launches $750 Million ATM Equity Program
Positive
Aug 11, 2026
On August 11, 2026, NuScale Power entered into a Sales Agreement with multiple securities firms to establish an at-the-market equity offering program for its Class A common stock. The arrangement allows the company to issue and sell up to $750 mil...
Business Operations and StrategyShareholder Meetings
NuScale Shareholders Approve Directors, Pay and Auditor Slate
Positive
Jun 2, 2026
At its 2026 Annual Meeting, NuScale Power shareholders approved the full slate of director nominees, including Alan L. Boeckmann, Bum-Jin Chung, Shinji Fujino, Stuart Harshaw, John L. Hopkins, Dale Klein, Kent Kresa, Diana J. Walters, and Kimberly...
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.