SMR Industrials

NuScale Power Corporation

$5.37+0.37%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Industrials
Industry: Specialty Industrial Machinery
Country: United States
Market cap: 2.2B USD
Enterprise value: 1.0B USD
Full-time employees: 428

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 2.31 vs a peer median of 0.64)bigger price swings (beta 2.31 vs peers 0.64)

Ranks #2,043 of 2,308 industrials companies (bottom 12%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 61% of revenue in 2025.
NuScale Power paid employees $19M in stock in 2025, 61% of its $31M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Not profitable yet. Reported a loss in the 12 months to June 2026.
NuScale Power reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Revenue is falling. Revenue fell 81% in the 12 months to June 2026 vs the 12 months before.
NuScale Power's revenue fell 81% in the 12 months to June 2026 vs the 12 months before.
Little borrowing. Debt is 0.00× equity vs a peer median of 0.4×.Debt is 0.00× equity vs peers 0.4×.
NuScale Power has among the least debt in its peer group relative to shareholders' equity.

StockQuotient Score

26/ 100

Oct 5 26 → Nov 4 26

Valuation

Is the price right?

9/100

Weak

3/3 inputs reported · High confidence

Since last quarter: 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-21.2%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yield-21.7%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.64Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield-39.8%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield105.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

5/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

12-month revenue fell 42.7%

Why

Weaker than most peers on:

▼ Revenue growth
▼ 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 -1.31Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth-15.8%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -3.20Sector median: 0.0421 · MAD: 0.0625

Revenue growth-81.0%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.66Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

0/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

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-6854.0%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -5.28Sector median: 0.0773 · MAD: 0.0507

Return on assets-20.3%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.56Sector median: 0.0311 · MAD: 0.0241

Return on invested capital-44.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.78Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin23.5%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity-20.2%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio
▲ 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.

Beta2.31

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.49Sector median: 0.6440 · MAD: 0.2745

Current ratio37.88×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score 6.75Sector median: 1.6180 · MAD: 0.5360

Debt / equity<0.01×

Yahoo Finance fallback · no standard SEC debt tagOutlier capped at sector 5th/95th percentile33% base weight · Z-score 1.17Sector median: 0.4019 · MAD: 0.3378

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 NuScale Power

Is NuScale Power getting weaker?: Its latest SEC filing (Aug 5, 2026) got weaker in some ways: 12-month revenue fell 42.7%. Its overall score is unchanged at 26/100 since Oct 28, 2026.
How is NuScale Power valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 9/100 against 2,459 industrials peers. Earnings yield -21.2% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -21.2% vs peers 3.8% (weaker than 100% of peers).
Is NuScale Power growing?: More slowly than most of its peers. Growth scores 5/100 against 2,459 industrials peers. Revenue growth -81.0% vs a peer median of 4.4% (weaker than 100% of peers).Revenue growth -81.0% vs peers 4.4% (weaker than 100% of peers).
How profitable is NuScale Power?: Less profitable than most of its peers. Profitability scores 0/100 against 2,459 industrials peers. Operating margin -6854.0% vs a peer median of 7.7% (weaker than 100% of peers).Operating margin -6854.0% vs peers 7.7% (weaker than 100% of peers).
How risky is NuScale Power?: Lower risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 37.88× vs a peer median of 1.62× (stronger than 95% of peers).Current ratio 37.88× vs peers 1.62× (stronger than 95% of peers). Beta 2.31 vs a peer median of 0.64 (weaker than 100% of peers).Beta 2.31 vs peers 0.64 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

12-month revenue fell 42.7%

Worth watching: NuScale Power 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 quarter	Latest quarter	Change
Revenue (12 months)	18.7M USD	10.7M USD	−42.7%
Net income (12 months)	−385.8M USD	−415.7M USD	+7.7%
Operating margin	-3812.6%	-6854.0%	−3041.4 pts
Free cash flow (12 months)	−753.5M USD	−778.8M USD	+3.4%
Cash	341.1M USD	766.5M USD	+124.7%

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

Industry valuation context

Industry: Specialty Industrial Machinery · 42 companies

Valuations in Specialty Industrial Machinery are above their usual range since 2016.

75% of months since 2016 were valued lower than now.
46% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +21% and earnings +11% (medians): prices and earnings moved broadly together.
Median price-to-sales is +32% vs the whole market, against a usual −5%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	38.2%	38.0%	16.9%	86.7%	36.3%	▼ 50 pts
Operating margin	-6090.1%	-1948.4%	-1208.1%	-374.5%	-2190.6%	▼ >999 pts
Net margin	-3581.2%	-219.5%	-255.9%	-368.8%	-1130.3%	▼ 761 pts
Return on assets (ROA)	-84.6%	-7.4%	-26.0%	-25.1%	-25.2%	▼ 0.1 pts
Return on equity (ROE)	-154.7%	-22.6%	-62.4%	-22.1%	-30.4%	▼ 8.4 pts
Free cash flow margin	-3533.0%	-1278.7%	-811.0%	-293.5%	-1461.7%	▼ >999 pts
Current ratio	1.78×	7.38×	1.77×	5.25×	4.30×	▼ 18%
Debt to equity	0.00×	—	—	—	—	—

SMR 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 2.31 vs a peer median of 0.64)bigger price swings (beta 2.31 vs peers 0.64)

Ranks #2,043 of 2,308 industrials companies (bottom 12%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 61% of revenue in 2025.

NuScale Power paid employees $19M in stock in 2025, 61% of its $31M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Not profitable yet. Reported a loss in the 12 months to June 2026.

NuScale Power reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Revenue is falling. Revenue fell 81% in the 12 months to June 2026 vs the 12 months before.

NuScale Power's revenue fell 81% in the 12 months to June 2026 vs the 12 months before.

Little borrowing. Debt is 0.00× equity vs a peer median of 0.4×.Debt is 0.00× equity vs peers 0.4×.

NuScale Power has among the least debt in its peer group relative to shareholders' equity.

Questions investors ask about NuScale Power

Is NuScale Power getting weaker?

Its latest SEC filing (Aug 5, 2026) got weaker in some ways: 12-month revenue fell 42.7%. Its overall score is unchanged at 26/100 since Oct 28, 2026.

How is NuScale Power valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 9/100 against 2,459 industrials peers. Earnings yield -21.2% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -21.2% vs peers 3.8% (weaker than 100% of peers).

Is NuScale Power growing?

More slowly than most of its peers. Growth scores 5/100 against 2,459 industrials peers. Revenue growth -81.0% vs a peer median of 4.4% (weaker than 100% of peers).Revenue growth -81.0% vs peers 4.4% (weaker than 100% of peers).

How profitable is NuScale Power?

Less profitable than most of its peers. Profitability scores 0/100 against 2,459 industrials peers. Operating margin -6854.0% vs a peer median of 7.7% (weaker than 100% of peers).Operating margin -6854.0% vs peers 7.7% (weaker than 100% of peers).

How risky is NuScale Power?

Lower risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 37.88× vs a peer median of 1.62× (stronger than 95% of peers).Current ratio 37.88× vs peers 1.62× (stronger than 95% of peers). Beta 2.31 vs a peer median of 0.64 (weaker than 100% of peers).Beta 2.31 vs peers 0.64 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

18.7M USD

10.7M USD

−42.7%

Net income (12 months)

−385.8M USD

−415.7M USD

+7.7%

Operating margin

-3812.6%

-6854.0%

−3041.4 pts

Free cash flow (12 months)

−753.5M USD

−778.8M USD

+3.4%

Cash

341.1M USD

766.5M USD

+124.7%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

38.2%

38.0%

16.9%

86.7%

36.3%

▼ 50 pts

Operating margin

-6090.1%

-1948.4%

-1208.1%

-374.5%

-2190.6%

▼ >999 pts

Net margin

-3581.2%

-219.5%

-255.9%

-368.8%

-1130.3%

▼ 761 pts

Return on assets (ROA)

-84.6%

-7.4%

-26.0%

-25.1%

-25.2%

▼ 0.1 pts

Return on equity (ROE)

-154.7%

-22.6%

-62.4%

-22.1%

-30.4%

▼ 8.4 pts

Free cash flow margin

-3533.0%

-1278.7%

-811.0%

-293.5%

-1461.7%

▼ >999 pts

Current ratio

1.78×

7.38×

1.77×

5.25×

4.30×

▼ 18%

Debt to equity

0.00×

—