| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 10 | 137.8x | 17.3x | Bottom tier | |
Growth | 53 | -2.7% | 7.1% | Around median | |
Quality | 50 | 5.0% | 4.5% | Around median | |
Safety | 78 | — | 2.6x | Top tier | |
Capital Return | 37 | 0.21% | 0.06% | Bottom tier | |
Momentum | 30 | 5.5% | -1.6% | Bottom tier | |
Sentiment | 85 | 13 | 3 | Top tier |
The floor: what the company is worth if growth stopped today
92% of today's price is what a buyer pays for growth that has not happened yet.
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Cameco Corporation operates across the nuclear value chain, from high-quality uranium assets and fuel services to its strategic investment in Westinghouse and the AP1000, AP300, and eVinci reactor technologies, as well as its investment in Global Laser Enrichment. The company benefits from uranium sales, conversion services, and fuel fabrication, while Westinghouse provides exposure to reactor construction, fuel services, refueling, and scheduled maintenance after operations begin.
In fiscal year 2025, revenue increased to $3.5 billion from $3.1 billion in fiscal year 2024, and gross profit reached $970.3 million versus $782.6 million. This equates to an approximate gross margin of 27.7%, up from about 25.2%, while net income jumped to $589.5 million from $171.8 million and earnings per share rose to 1.35 from 0.39. The business mix reflects integrated exposure to uranium, fuel services, and Westinghouse, rather than reliance on mining alone.
Results for Q2 fiscal year 2026 were weaker than the comparable period, as adjusted earnings before interest, taxes, depreciation, and amortization declined by 42% due to lower uranium sales volumes and a weaker contribution from Westinghouse, with the comparison also affected by the contribution from the Dukovany project in fiscal year 2025. In contrast, management said average realized prices improved in both the uranium and fuel services segments and kept the annual production plan unchanged at an attributable share of between 19.5 and 21.5 million pounds of U3O8.
The analyst consensus is “Buy,” with an average target of $134.25 and a wide range between $97 and $175. The average is less than 1% below the 52-week range high of $135.24, while the wide spread in targets reflects fundamental disagreement over Westinghouse's value, the sustainability of uranium prices, and the ability of the AP1000 project pipeline to convert into executed contracts.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
Cameco generates revenue from uranium, fuel services, and its investment in Westinghouse, giving it a presence across multiple parts of the nuclear value chain. Fiscal year 2025 revenue was approximately $3.5 billion, compared with $3.1 billion in fiscal year 2024. Existing contracts support average uranium deliveries exceeding 28 million pounds annually during the five years following Q2 fiscal year 2026.
Adjusted earnings before interest, taxes, depreciation, and amortization declined by 42% compared with the same period of the previous year. The data attributed this to lower uranium sales volumes and weaker Westinghouse earnings, in addition to a difficult comparison with the contribution from the Dukovany project in fiscal year 2025. Nevertheless, Cameco kept its annual attributable production plan unchanged at between 19.5 and 21.5 million pounds of U3O8.
Westinghouse provides exposure to reactor construction and the AP1000, AP300, and eVinci technologies, in addition to fuel, refueling, and maintenance services. Its pipeline includes 91 AP1000 reactor opportunities, with an expected share equal to 40% to 45% of project value and an average earnings before interest, taxes, depreciation, and amortization margin of approximately 20%. After a reactor begins operating, Westinghouse expects recurring annual opportunities from fuel, outage, and maintenance services, while Cameco also benefits from demand for uranium and conversion.
Automated analysis for informational purposes only — not investment advice.
On July 31, 2026, Westinghouse confidentially submitted a draft registration statement for a proposed initial public offering to the U.S. Securities and Exchange Commission. Management did not provide additional details about the offering's size, timing, or use of proceeds because of regulatory restrictions associated with the process. Cameco confirmed that Cameco and Brookfield control Westinghouse and do not expect that to change.
The long-term uranium price was in the mid-$90s per pound in Q2 fiscal year 2026, even though utility contracting had not yet reached the replacement rate. Management said the increase in the average realized price came from market-related components in existing contracts and the strength of the U.S. dollar against the Canadian dollar. It also indicated that some new market-related contracts include floors in the high-$70s and ceilings near $160 with contractual escalation.
Spring road conditions in Q2 fiscal year 2026 affected northern supply routes and caused temporary disruptions at Key Lake and McArthur River. After the end of the quarter, Cigar Lake production stopped for approximately two weeks due to additional operational challenges. The company managed these developments without changing its annual production plan, but the events confirm that operating remote and heavily regulated uranium mines and mills remains complex.