NuScale Power Corporation
SMR
$0.00
-1.07%
NuScale Power Corporation is a developer of small modular nuclear reactor (SMR) technology in the Renewable Utilities industry. It is a pioneering company focused on delivering safe, scalable, and carbon-free power through its proprietary reactor design.
SMR
NuScale Power Corporation
$0.00
Related headlines
Investment Opinion: Should I buy SMR Today?
Based on a synthesis of the available data, the objective assessment for SMR is Sell/Hold for Speculative Portfolios Only. The company's financials are deeply concerning, with massive losses and cash burn far outweighing its negligible revenue. The stock's extreme decline and high valuation multiple signal substantial downside risk. While its technology holds long-term promise, the near-term path is fraught with execution and financial risks that make it unsuitable for most investors. Only those with a very high risk tolerance and a long-term horizon should consider a speculative position, understanding it carries a high probability of permanent capital loss.
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SMR 12-Month Price Forecast
The fundamental financial deterioration, extreme valuation, and severe price decline outweigh the promising long-term technology thesis for the next 12 months. The base case suggests further stagnation or decline is more likely than a recovery.
Wall Street consensus
Most Wall Street analysts maintain a constructive view on NuScale Power Corporation's 12-month outlook, with a consensus price target around $0.00 and implied upside of — versus the current price.
Average Target
$0.00
5 analysts
Implied Upside
—
vs. current price
Analyst Count
5
covering this stock
Price Range
$0 - $0
Analyst target range
Analyst coverage data for specific price targets and consensus ratings is not available in the provided inputs. The available data shows recent rating actions from several firms, including 'Neutral' from UBS and Goldman Sachs, 'Sell' from Citigroup, and 'Buy' from Canaccord Genuity and B. Riley Securities, indicating a mixed sentiment. However, without a consolidated consensus target price or detailed distribution, a comprehensive summary of analyst targets cannot be provided.
Bulls vs Bears: SMR Investment Factors
NuScale Power represents a high-risk, high-potential investment in next-generation nuclear technology. Its pioneering position and clean energy tailwinds are offset by severe financial losses, a precarious cash position, and a valuation disconnected from current fundamentals. The stock's extreme volatility reflects this binary outcome profile.
Bullish
- Pioneering SMR Technology: Leader in small modular nuclear reactors, a key solution for carbon-free, reliable power.
- Strong Balance Sheet: Debt-free with a high current ratio of 4.3, providing financial flexibility.
- Regulatory Approval & Contracts: Has secured project approvals, providing a clearer path than some peers.
- Significant Long-Term Revenue Potential: Analyst revenue estimates average $1.2B, indicating massive growth potential.
Bearish
- Severe Cash Burn: TTM free cash flow is -$460M, threatening financial runway.
- Minimal Revenue, Deep Losses: Q4 revenue of $1.8M with a -28.1% net margin.
- Extremely High Valuation: P/S ratio of 73.7 is unsustainable without near-term commercial success.
- Critical Project Delays: News highlights delays and timeline risks to commercialization.
SMR Technical Analysis
The stock has experienced a severe and sustained downtrend over the observed period, falling from a high near $53.43 in mid-October 2025 to a closing price of $10.84 on March 31, 2026. This represents a decline of over 72% in six months, significantly underperforming the broader market, as indicated by a -69.74 relative strength over the same period. Short-term performance remains weak, with the stock down 15.64% over the past month and 23.50% over the past three months, both substantially worse than the S&P 500's performance. The current price of $10.84 is near the lower end of its 52-week range of $10.01 to $57.42, sitting just 8.3% above the 52-week low, which indicates significant technical weakness and potential oversold conditions.
Beta
2.28
2.28x market volatility
Max Drawdown
-81.0%
Largest decline past year
52-Week Range
$10-$57
Price range past year
Annual Return
-32.8%
Cumulative gain past year
| Period | SMR Return | S&P 500 |
|---|---|---|
| 1m | -19.0% | -4.3% |
| 3m | -37.8% | -4.0% |
| 6m | -74.7% | -2.0% |
| 1y | -32.8% | +22.2% |
| ytd | -37.8% | -3.8% |
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SMR Fundamental Analysis
Revenue is minimal and highly volatile, with the latest quarterly figure at $1.8 million, representing a year-over-year decline of 94.7%. The company is deeply unprofitable, with a net loss of $50.8 million for Q4 2025 and a negative net margin of -28.1%, driven by substantial operating expenses far exceeding revenue. The company's financial health is characterized by a debt-free balance sheet (debt-to-equity of 0) and a strong current ratio of 4.3, indicating good short-term liquidity. However, cash flow is a major concern, with operating cash flow deeply negative at -$203.7 million for Q4 2025 and free cash flow over the trailing twelve months at -$460.1 million, reflecting a high cash burn rate. Operational efficiency metrics are poor, with a negative Return on Equity (ROE) of -30.4% and a negative Return on Assets (ROA) of -11.6%, indicating the company is destroying shareholder value as it invests heavily in development before generating meaningful commercial revenue.
Quarterly Revenue
$1808000.0B
2025-12
Revenue YoY Growth
-0.94%
YoY Comparison
Gross Margin
-0.03%
Latest Quarter
Free Cash Flow
$-460117999.0B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is SMR Overvalued?
Given the company's consistent net losses and negative EBITDA, traditional earnings-based metrics like P/E are not meaningful. Therefore, the valuation is assessed using the Price-to-Sales (P/S) ratio, which stands at an extremely high 73.7. This elevated multiple reflects the market's valuation of the company's future growth potential rather than its current negligible revenue base. A peer comparison cannot be performed as industry average valuation multiples were not provided in the data inputs.
PE
-6.5x
Latest Quarter
vs. Historical
High-End
5-Year PE Range -75x~-3x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
-6.5x
Enterprise Value Multiple
Investment Risk Disclosure
The primary risk is financial viability. The company is burning cash at an alarming rate, with TTM free cash flow of -$460.1 million and operating cash flow deeply negative. With minimal revenue ($1.8M last quarter) and no clear path to profitability in the near term, there is a significant risk of further dilution or financial distress if capital markets become less favorable. The high P/S ratio of 73.7 leaves the stock vulnerable to a severe de-rating if growth timelines slip.
Operational and execution risks are paramount. Recent news highlights critical project delays and growing analyst skepticism, which threaten the commercialization timeline essential for justifying its valuation. The stock's extreme technical weakness, trading near its 52-week low after a 72% decline, reflects a loss of investor confidence and high volatility (beta of 2.25), indicating it is more than twice as volatile as the market. While the debt-free balance sheet mitigates bankruptcy risk in the short term, the combination of high cash burn, execution uncertainty, and market sentiment creates a very high-risk profile.
FAQ
The key risks are financial, operational, and market-related. Financially, the company's high cash burn rate (-$460M TTM) threatens its ability to continue operations without further dilutive financing. Operationally, the company faces significant risks of project delays and execution failures, as highlighted in recent news. Market-wise, the stock is highly volatile (beta of 2.25) and has shown extreme downside momentum, trading just 8% above its 52-week low.
The 12-month outlook is highly uncertain and skewed to the downside. The base case (50% probability) sees the stock trading between $10 and $18 as it grapples with cash burn and slow progress. A bear case (30% probability) could see it fall to $5-$10 on further bad news. A bull case (20% probability) driven by major catalysts could lift it to $25-$35. The consensus from the data suggests stagnation or further decline is more likely than a sustained recovery in the near term.
Based on traditional metrics, SMR appears significantly overvalued. It trades at a Price-to-Sales (P/S) ratio of 73.7, an extremely high multiple that prices in decades of flawless future growth. Given its current quarterly revenue of just $1.8 million and deep losses, this valuation is not supported by fundamentals. The stock's value is entirely based on the optionality of its technology succeeding commercially, which is a high-risk proposition.
For the vast majority of investors, SMR is not a good stock to buy at this time. The company is burning over $460 million in cash annually while generating only $1.8 million in quarterly revenue, creating a unsustainable financial model. The stock has fallen over 72% in six months, reflecting a severe loss of market confidence. It is a purely speculative bet on distant future success, carrying a high risk of permanent capital loss.
SMR is unsuitable for short-term investment due to its extreme volatility and lack of near-term catalysts. It is only theoretically suitable for very long-term investors (7-10+ year horizon) who believe strongly in the SMR technology and are willing to accept a high likelihood of total loss for a small chance of outsized returns. The company does not expect meaningful commercial revenue until the 2030s, making it a multi-decade story with immense interim risk.