| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 2 | — | 17.8x | Bottom tier | |
Growth | 18 | -81.0% | 7.1% | Bottom tier | |
Quality | 14 | -35.4% | 4.5% | Bottom tier | |
Safety | 37 | — | 2.6x | Bottom tier | |
Capital Return | — | — | 2.12% | N/A | |
Momentum | 10 | -73.2% | 2.9% | Bottom tier | |
Sentiment | 39 | 7 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
NuScale Power Corporation develops small modular reactor technology, and its business model is based on supplying NuScale Power Module units and providing engineering services within ENTRA1 Energy plants. The company operates as the system integrator and engineer of record, while its commercial partner ENTRA1 builds the plants; its ecosystem includes more than 60 specialized suppliers, and it has entered into agreements with more than half of them. The technology uses conventional low-enriched uranium, and two of the company’s designs have received standard design approvals from the U.S. Nuclear Regulatory Commission, while the targeted applications include electricity generation, industrial heat, and hydrogen and ammonia production.
In Q2 of fiscal year 2026, revenue was approximately $0.1 million, compared with $8.1 million in the corresponding period, and management attributed the decline to the completion of Phase 2 Front-End Engineering and Design work for the RoPower project with Fluor in late 2025 and the absence of similar activity in the new period. Management noted that the power plants segment recorded negative revenue and a negative margin due to a settlement related to Fluor, confirming that the settlement does not represent an ongoing trend; however, the revenue base remained extremely limited. The Q1 fiscal year 2026 statements show revenue of $565 thousand and gross profit of $21 thousand, representing a gross margin of approximately 3.7%, with a net loss of $44.0 million, while the trailing twelve-month loss in 2026 was approximately $385.8 million on revenue of $18.7 million.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is Buy, with an average target of $12, a high target of $16, and a low target of $9; the average is approximately 79% below the 52-week range peak of $57.42, illustrating the scale of the revaluation that followed weak revenue, continued losses, and dilution risk. The price-to-earnings ratio cannot be used because the trailing twelve-month net loss in 2026 was $385.8 million, so the valuation depends primarily on the likelihood of converting TVA and RoPower into contracts and on the $1.9 billion in liquidity, while the $9–$16 target range remains evidence of elevated uncertainty.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
NuScale’s revenue was approximately $0.1 million in Q2 of fiscal year 2026, compared with $8.1 million in the corresponding period. Management attributed the decline to the completion of Phase 2 Front-End Engineering and Design work with Fluor for the RoPower project in late 2025, with no similar activity in the new period. An August 18, 2026 news item also reported precise revenue of $75 thousand, highlighting the dependence of current revenue on the timing of engineering project phases.
ENTRA1 is discussing a final power purchase agreement with Tennessee Valley Authority to use NuScale technology, and management describes the discussions as active and advanced. Once the agreement is executed, NuScale plans to begin the combined construction and operating license application, Front-End Engineering and Design, and manufacturing contract negotiations. Approximately 60% of the license application prepared for the previous U.S. project can be reused, but the final commercial contract remains the necessary catalyst for this work to begin.
The project targets the deployment of 6 NuScale units in Doicesti at the site of a former coal-fired power plant, and management describes it as the most advanced SMR project in Europe. NuScale successfully completed the Front-End Engineering and Design work as a subcontractor to Fluor and is working with Nuclearelectrica and RoPower to satisfy the conditions of the shareholder resolution. The next phase requires an agreement between the customer and the main contractor before NuScale negotiates with an EPC contractor, and management estimated that the pre-EPC phase would take approximately one year to reach the final notice to proceed.
The company ended Q2 of fiscal year 2026 with approximately $1.9 billion in cash, cash equivalents, and investments, an increase of $900 million since March 31, 2026. Management says this liquidity gives it flexibility to fund the completion of design, fuel, supply-chain agreements, and working capital associated with first-of-a-kind technology. In contrast, the company announced a $750 million share offering on August 18, 2026, which supports funding but introduces the possibility of dilution for existing shareholders.
NuScale says it is the only company in the SMR sector to have received design certification from the U.S. Nuclear Regulatory Commission, with standard approvals for two designs. Its units use conventional low-enriched uranium rather than HALEU, and it is collaborating with Framatome on fuel design, Doosan Enerbility on heavy components, and Paragon on safety-related control systems. The supply chain includes more than 60 suppliers, with agreements signed with more than half of them and long-lead components in production for two years, according to management.
The trailing twelve-month net loss in 2026 was approximately $385.8 million compared with revenue of $18.7 million, so there is no usable price-to-earnings ratio. Q2 fiscal year 2026 revenue also fell to approximately $0.1 million due to the completion of the previous Fluor scope of work, while the TVA contracts and the next RoPower phase remain nonfinal. The $750 million share offering adds dilution risk, while analyst targets range from $9 to $16, reflecting a wide divergence in estimates of the commercial transition path.
