DNN Energy

Denison Mines Corp.

$2.10-1.41%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Energy
Industry: Uranium
Country: Canada
Market cap: 1.9B USD
Enterprise value: 2.0B USD

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.64 vs a peer median of 0.57)bigger price swings (beta 1.64 vs peers 0.57)
Drawback: more debt relative to equity (2.38× vs a peer median of 0.47×)more debt vs equity (2.38× vs peers 0.47×)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #350 of 363 energy companies (bottom 4%)

See how it ranks against its peers

Worth knowing

Much more borrowing than peers. Debt is 2.4× equity vs a peer median of 0.5×.Debt is 2.4× equity vs peers 0.5×.
Debt is 2.4× shareholders' equity, against a peer median of 0.5×, among the highest 10% of its peer group.Debt is 2.4× shareholders' equity, vs peers 0.5×, among the highest 10% of its peer group.
Stock-based pay is a large cost. Stock pay was 97% of revenue in FY Dec 2025.
Denison Mines paid employees CAD 5M in stock in FY Dec 2025, 97% of its CAD 5M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Investment surge. Capital spending 1027% of revenue, up from 174% in FY Dec 2023.
Denison Mines is spending 1027% of revenue on facilities and equipment, up from 174% in FY Dec 2023. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.
Growing fast, still losing money. Revenue grew faster than 86% of peers, at an operating loss, from a small base ($3.5M of revenue over 12 months).
Revenue grew faster than 86% of peers, but the business runs at an operating loss (margin -1248%).

StockQuotient Score

18/ 100

Oct 5 18 → Nov 4 18

Valuation

Is the price right?

2/100

Weak

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-8.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · CAD→USD at the current rateNegative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.49Sector median: 0.0522 · MAD: 0.0351

EBITDA yield-2.0%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 months · CAD→USD convertedNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -2.33Sector median: 0.1209 · MAD: 0.0518

Free cash flow yield-4.4%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · CAD→USD at the current rate · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.26Sector median: 0.0618 · MAD: 0.0491

Other data (not scored)

Book yield13.8%

SEC filings (IFRS mapped) · latest balance sheet · CAD→USD at the current rateReported valueInformational · 0% composite weightSector median: 0.5851 · MAD: 0.2677

Growth

Is it growing?

32/100

Weak

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 22.2%

Why

Weaker than most peers on:

▼ 3-yr revenue
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

The loss per share widened33% base weight · Z-score -1.27Sector median: 0.0107 · MAD: 0.3431

3-year revenue growth-18.2%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported value33% base weight · Z-score -2.08Sector median: -0.0135 · MAD: 0.0807

Revenue growth22.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 1.97Sector median: 0.0050 · MAD: 0.1101

Profitability

Does it earn well?

1/100

Weak▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last year: No major change

Why it changed since the Oct 27, 2026 close: Score 0 → 1

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-1247.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -2.98Sector median: 0.1169 · MAD: 0.0936

Return on assets-19.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -4.36Sector median: 0.0444 · MAD: 0.0302

Return on invested capital-23.8%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.26Sector median: 0.0929 · MAD: 0.0648

Other data (not scored)

Gross margin-90.9%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.3310 · MAD: 0.1935

Return on equity-59.0%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.1014 · MAD: 0.0743

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last year: No major change

Why

Mixed versus peers:

▲ Current ratio
▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.64

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.37Sector median: 0.5680 · MAD: 0.2415

Current ratio10.75×

SEC filings (IFRS mapped) · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score 8.07Sector median: 1.3710 · MAD: 0.5060

Debt / equity2.38×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -6.02Sector median: 0.4659 · MAD: 0.3175

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Denison Mines

Is Denison Mines getting weaker?: Its latest SEC filing (Mar 30, 2026) showed no major changes. Its overall score is unchanged at 18/100 since Oct 28, 2026.
How is Denison Mines valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 2/100 against 404 energy peers. Earnings yield -8.1% vs a peer median of 5.2% (weaker than 100% of peers).Earnings yield -8.1% vs peers 5.2% (weaker than 100% of peers).
Is Denison Mines growing?: More slowly than most of its peers. Growth scores 32/100 against 404 energy peers. Revenue growth 22.2% vs a peer median of 0.5% (stronger than 86% of peers).Revenue growth 22.2% vs peers 0.5% (stronger than 86% of peers). 3-year revenue growth -18.2% vs a peer median of -1.3% (weaker than 93% of peers).3-year revenue growth -18.2% vs peers -1.3% (weaker than 93% of peers).
How profitable is Denison Mines?: Less profitable than most of its peers. Profitability scores 1/100 against 404 energy peers. Operating margin -1247.5% vs a peer median of 11.7% (weaker than 100% of peers).Operating margin -1247.5% vs peers 11.7% (weaker than 100% of peers).
How risky is Denison Mines?: Moderate risk relative to 404 energy peers, judged on debt, liquidity and share-price swings. Current ratio 10.75× vs a peer median of 1.37× (stronger than 95% of peers).Current ratio 10.75× vs peers 1.37× (stronger than 95% of peers). Beta 1.64 vs a peer median of 0.57 (weaker than 100% of peers).Beta 1.64 vs peers 0.57 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Mar 30, 2026 · compared with the year ended Dec 31, 2024

No major changes

Worth watching: Denison Mines is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous year	Latest year	Change
Revenue (12 months)	4.0M CAD	4.9M CAD	+22.2%
Net income (12 months)	−91.1M CAD	−217.3M CAD	+138.5%
Operating margin	-2349.0%	-1247.5%	+1101.5 pts
Free cash flow (12 months)	−48.1M CAD	−118.6M CAD	+146.8%
Cash	108.5M CAD	465.9M CAD	+329.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in CAD, as reported

Key ratios	FY Nov 2023	FY 2023	FY Nov 2024	FY 2024	FY 2025	Change
Operating margin	—	4985.6%	—	-2349.0%	-1247.5%	▲ >999 pts
Net margin	—	4872.0%	—	-2265.0%	-4418.2%	▼ >999 pts
Return on assets (ROA)	—	12.4%	—	-13.7%	-19.6%	▼ 5.9 pts
Return on equity (ROE)	—	14.1%	—	-16.1%	-59.0%	▼ 43 pts
Free cash flow margin	—	-1827.5%	—	-1195.0%	-2412.4%	▼ >999 pts
Current ratio	—	8.28×	—	3.65×	10.75×	▲ 194%
Quick ratio	—	8.08×	—	3.54×	10.51×	▲ 197%
Interest coverage	—	87.08×	—	-35.55×	—	—

DNN price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.64 vs a peer median of 0.57)bigger price swings (beta 1.64 vs peers 0.57)

Drawback: more debt relative to equity (2.38× vs a peer median of 0.47×)more debt vs equity (2.38× vs peers 0.47×)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #350 of 363 energy companies (bottom 4%)

See how it ranks against its peers

Worth knowing

Much more borrowing than peers. Debt is 2.4× equity vs a peer median of 0.5×.Debt is 2.4× equity vs peers 0.5×.

Debt is 2.4× shareholders' equity, against a peer median of 0.5×, among the highest 10% of its peer group.Debt is 2.4× shareholders' equity, vs peers 0.5×, among the highest 10% of its peer group.

Stock-based pay is a large cost. Stock pay was 97% of revenue in FY Dec 2025.

Denison Mines paid employees CAD 5M in stock in FY Dec 2025, 97% of its CAD 5M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Investment surge. Capital spending 1027% of revenue, up from 174% in FY Dec 2023.

Denison Mines is spending 1027% of revenue on facilities and equipment, up from 174% in FY Dec 2023. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.

Growing fast, still losing money. Revenue grew faster than 86% of peers, at an operating loss, from a small base ($3.5M of revenue over 12 months).

Revenue grew faster than 86% of peers, but the business runs at an operating loss (margin -1248%).

Questions investors ask about Denison Mines

Is Denison Mines getting weaker?

Its latest SEC filing (Mar 30, 2026) showed no major changes. Its overall score is unchanged at 18/100 since Oct 28, 2026.

How is Denison Mines valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 2/100 against 404 energy peers. Earnings yield -8.1% vs a peer median of 5.2% (weaker than 100% of peers).Earnings yield -8.1% vs peers 5.2% (weaker than 100% of peers).

Is Denison Mines growing?

More slowly than most of its peers. Growth scores 32/100 against 404 energy peers. Revenue growth 22.2% vs a peer median of 0.5% (stronger than 86% of peers).Revenue growth 22.2% vs peers 0.5% (stronger than 86% of peers). 3-year revenue growth -18.2% vs a peer median of -1.3% (weaker than 93% of peers).3-year revenue growth -18.2% vs peers -1.3% (weaker than 93% of peers).

How profitable is Denison Mines?

Less profitable than most of its peers. Profitability scores 1/100 against 404 energy peers. Operating margin -1247.5% vs a peer median of 11.7% (weaker than 100% of peers).Operating margin -1247.5% vs peers 11.7% (weaker than 100% of peers).

How risky is Denison Mines?

Moderate risk relative to 404 energy peers, judged on debt, liquidity and share-price swings. Current ratio 10.75× vs a peer median of 1.37× (stronger than 95% of peers).Current ratio 10.75× vs peers 1.37× (stronger than 95% of peers). Beta 1.64 vs a peer median of 0.57 (weaker than 100% of peers).Beta 1.64 vs peers 0.57 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

4.0M CAD

4.9M CAD

+22.2%

Net income (12 months)

−91.1M CAD

−217.3M CAD

+138.5%

Operating margin

-2349.0%

-1247.5%

+1101.5 pts

Free cash flow (12 months)

−48.1M CAD

−118.6M CAD

+146.8%

Cash

108.5M CAD

465.9M CAD

+329.3%

Key ratios

FY Nov 2023

FY 2023

FY Nov 2024

FY 2024

FY 2025

Change

Operating margin

—

4985.6%

—

-2349.0%

-1247.5%

▲ >999 pts

Net margin

—

4872.0%

—

-2265.0%

-4418.2%

▼ >999 pts

Return on assets (ROA)

—

12.4%

—

-13.7%

-19.6%

▼ 5.9 pts

Return on equity (ROE)

—

14.1%

—

-16.1%

-59.0%

▼ 43 pts

Free cash flow margin

—

-1827.5%

—

-1195.0%

-2412.4%

▼ >999 pts

Current ratio

—

8.28×

—

3.65×

10.75×

▲ 194%

Quick ratio

—

8.08×

—

3.54×

10.51×

▲ 197%

Interest coverage

—

87.08×

—

-35.55×

—