NuScale Power Corporation (SMR) Stock Analysis

Why this analysis is different

• A sector-relative MoonshotScore — five pillars (business quality, financial safety, valuation, growth durability, momentum) re-ranked nightly against the full universe of US-listed common stocks.
• An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
• Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.

NuScale Power Corporation (SMR) Utility Operations & Dividend Profile

NuScale Power Corporation is a developer of small modular reactor (SMR) technology, offering scalable nuclear power solutions. Their VOYGR plants aim to provide reliable and clean energy for diverse applications, positioning them within the evolving landscape of renewable utilities and advanced nuclear energy.

What Is the Investment Thesis for SMR?

NuScale Power Corporation presents a notable research candidate within the renewable utilities sector, driven by the increasing demand for clean and reliable energy sources. The company's small modular reactor (SMR) technology offers a scalable and cost-effective alternative to traditional nuclear power plants. Key value drivers include the potential for government incentives and regulatory support for advanced nuclear energy, as well as the growing market for distributed power generation and industrial process heat. The successful deployment of the VOYGR plants and the securing of long-term power purchase agreements are critical catalysts for growth. However, potential risks include regulatory hurdles, construction delays, and competition from other renewable energy sources. With a gross margin of 36.3%, NuScale aims to improve profitability as it scales its operations and secures more contracts.

Based on FMP financials and quantitative analysis

SMR Key Highlights

NuScale Power Module: A 77 MWe small light water reactor designed for scalability and diverse applications.

• VOYGR Plant Series: Offering configurations from 4 to 12 modules, providing flexible power generation options up to 924 MWe.
• Gross Margin: 36.3% indicates potential for profitability as projects scale.
• Market Capitalization: $3.06B reflects investor interest in the company's growth prospects.
• Beta: 2.28 suggests higher volatility compared to the overall market.

Who Are SMR's Competitors?

SMR is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance

What Are SMR's Key Strengths?

Proprietary small modular reactor (SMR) technology.

• Partnership with Fluor Enterprises, Inc.
• Scalable and flexible plant configurations.
• Potential for diverse applications beyond electricity generation.

What Are SMR's Weaknesses?

High initial capital costs.

• Dependence on regulatory approvals.
• Limited operating history.
• Negative profit margin.

What Could Drive SMR Stock Higher?

Securing contracts for VOYGR plant deployments with utilities and industrial customers.

• Advancing regulatory approvals for SMR technology in various countries.
• Development of partnerships with key industry players and government entities.
• Expansion into international markets with high energy demand.
• Integration of SMRs with renewable energy systems.

What Are the Key Risks for SMR?

Negative return on equity (-31.8%) — the business is not currently generating profit on shareholder capital.

• Weak fundamentals — a Piotroski F-Score of 1/9 flags soft profitability, leverage or efficiency.
• Insider selling — insiders were net sellers of roughly $473.6M recently.
• Delays in regulatory approvals for SMR technology.
• Construction delays and cost overruns for VOYGR plant deployments.
• Competition from other renewable energy sources and alternative technologies.
• Public perception and concerns about nuclear safety.
• Changes in government policies and regulations affecting the nuclear energy sector.

What Are the Growth Opportunities for SMR?

• Deployment of VOYGR Plants: NuScale's primary growth opportunity lies in the successful deployment of its VOYGR series of SMR plants. Each VOYGR plant represents a significant revenue stream and demonstrates the viability of NuScale's technology. Securing contracts with utilities and industrial customers for VOYGR plants is crucial for driving long-term growth.
• Government Incentives and Regulatory Support: Government policies and incentives play a critical role in supporting the adoption of nuclear energy. NuScale can benefit from government funding, tax credits, and streamlined regulatory processes. The U.S. government, for example, has expressed support for advanced nuclear technologies, which could provide significant financial and regulatory advantages for NuScale. Ongoing:
• Expansion into International Markets: NuScale has the opportunity to expand its operations into international markets, particularly in countries with growing energy demand and a need for clean energy solutions. Regions such as Eastern Europe, Asia, and the Middle East offer significant potential for SMR deployment. Establishing partnerships with local companies and navigating international regulations are key to successful expansion. Ongoing:
• Integration with Renewable Energy Systems: NuScale's SMRs can be integrated with other renewable energy sources, such as solar and wind, to provide a reliable and baseload power supply. This hybrid approach can enhance the stability and resilience of the grid, addressing the intermittency challenges associated with some renewable energy sources. Developing integrated energy systems can create new market opportunities for NuScale. Ongoing:
• Applications Beyond Electricity Generation: NuScale's technology can be used for a variety of applications beyond electricity generation, including district heating, desalination, hydrogen production, and industrial process heat. These applications can diversify NuScale's revenue streams and expand its market reach. Developing partnerships with companies in these sectors is crucial for realizing this growth opportunity. Ongoing:

What Are SMR's Competitive Advantages?

• Proprietary SMR Technology: NuScale's patented SMR technology provides a unique and differentiated offering.
• Regulatory Approvals: Obtaining regulatory approvals for nuclear power plants is a lengthy and complex process, creating a barrier to entry for competitors.
• Partnership with Fluor: NuScale's partnership with Fluor provides access to engineering and construction expertise, enhancing its ability to deliver projects on time and within budget.
• First-Mover Advantage: NuScale is one of the first companies to develop and commercialize SMR technology, giving it a competitive advantage in the market.

What Does SMR Do?

NuScale Power Corporation, founded in 2007 and headquartered in Portland, Oregon, is focused on the design, development, and commercialization of small modular reactor (SMR) nuclear power plants. As a subsidiary of Fluor Enterprises, Inc., NuScale leverages Fluor's engineering and construction expertise to advance its nuclear technology. The company's core offering is the NuScale Power Module (NPM), a small light water reactor capable of generating 77 megawatts of electricity (MWe). These modules can be combined to create larger power plants, such as the VOYGR-12, which can generate 924 MWe. NuScale also offers the VOYGR-4 and VOYGR-6 plants, providing flexible configurations to meet specific customer needs. NuScale's technology targets a broad range of applications, including electricity generation, district heating, desalination, hydrogen production, and other process heat applications. The company aims to provide a safer, more scalable, and cost-effective alternative to traditional nuclear power plants, contributing to a cleaner and more reliable energy future. NuScale's modular approach allows for easier construction and deployment, making nuclear power accessible to a wider range of customers and locations.

What Products and Services Does SMR Offer?

• Develops small modular reactor (SMR) nuclear power plants.
• Offers the NuScale Power Module (NPM), a 77 MWe light water reactor.
• Provides VOYGR plant configurations ranging from 4 to 12 modules.
• Targets applications including electricity generation, district heating, and desalination.
• Aims to provide a safer and more scalable alternative to traditional nuclear power.
• Offers solutions for hydrogen production and other process heat applications.

How Does SMR Make Money?

• Sells NuScale Power Modules (NPMs) and VOYGR plant configurations.
• Generates revenue through engineering, procurement, and construction (EPC) contracts.
• Provides long-term service and maintenance agreements for its plants.
• Pursues partnerships with utilities and industrial customers.

What Industry Does SMR Operate In?

NuScale Power Corporation operates within the renewable utilities sector, which is experiencing significant growth driven by the global transition to clean energy. The market for small modular reactors (SMRs) is projected to grow substantially as countries seek to reduce carbon emissions and enhance energy security. NuScale's competitors include established nuclear power companies and other renewable energy providers. The company's modular design and focus on safety differentiate it from traditional nuclear power plants. The industry is also influenced by government regulations, public perception, and technological advancements in nuclear energy.

Who Are SMR's Key Customers?

• Utilities seeking to diversify their energy sources.
• Industrial facilities requiring reliable and clean process heat.
• Municipalities looking for district heating solutions.
• Government entities interested in energy security and carbon reduction.

Company Profile

NuScale Power Corporation operates in the Renewable Utilities industry within the Utilities sector. It is headquartered in Corvallis, US. The company is led by CEO John Lawrence Hopkins. SMR has traded publicly since 2022.

NuScale Power Corporation's Piotroski F-Score is 1/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of 43.43 places it in the safe zone, indicating low near-term bankruptcy risk.

Return on equity for NuScale Power Corporation stands at -31.8%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -20.3%, showing how much profit it generates from its asset base. Its free cash flow yield is -27.5%, a gauge of the cash the business throws off relative to its market value. A current ratio of 37.88 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -26.8%, the inverse of the P/E and a quick read on earnings relative to price.

SMR Valuation & Market Position

With a $2.70B market cap, NuScale Power Corporation sits in the mid-cap segment of the market. Relative to its peer group, SMR's quantitative score of 12/100 is below the peer average of 51/100.

Wall Street analysts project NuScale Power Corporation revenue of about $25.8M for fiscal 2026, with EPS near $-0.52. The estimate reflects 5 contributing analysts.

Over the past six months, NuScale Power Corporation insiders filed 27 SEC Form 4 transactions — 9 sales and 18 purchases. On net that is roughly 39.6M shares disposed (about $473.6M), a signal worth weighing alongside the fundamentals.

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Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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