SMR
NuScale Power Corporation

NuScale Power CorporationSMR

Industrials · Specialty Industrial Machinery
5.08USD
+16.25%
Nov 08, 2026
SMR overview ready
Licensor and Developer of NRC-Certified Small Modular Nuclear Reactors
NuScale is a pre-commercial advanced-reactor technology developer and licensor.
Primary theme is lagging
Nuclear / Uranium is lagging (-13.7pp vs SPY over 21 sessions; 2 of 14 members ahead of SPY).
Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the cash it currently generates.
Fundamentals not measured
Primary risk
Delay or failure to secure first commercial contract.
Market Nov 6Filing Sep 30Price action Nov 7Research Jul 30

Conviction Level

PriceAction1.4BusinessPerformance2.0BusinessQuality—Valuation0.3ThemeMomentum1.0Weakening — Revenue fell 97% year over year in the latest quarter. Per-share figures are not comparable across a large share-count change; the net loss moved to -$43.7M from -$273.3M a year earlier. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−13.7pp
Theme return
−18.6%
Beating SPY
2 of 14
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$1.2B
Avg Volume (60D)
34.6M
60 sessions
Revenue Growth YoY
-15.0%
FY2025 vs FY2024
Gross Margin
-2.2%
Trailing twelve months
Free Cash Flow Yield
-50.5%
Distance from 200DMA
-51.5%
P/E
N/M
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Weakening

Revenue fell 97% year over year in the latest quarter. Per-share figures are not comparable across a large share-count change; the net loss moved to -$43.7M from -$273.3M a year earlier.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthDeclining
-97%
$281K in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. n/a
  2. -96%
  3. -99%
  4. -97%
Earnings growthLoss narrowing
-$43.7M
Net income -$43.7M. Per-share figures are not comparable across a large share-count change.
Not enough comparable diluted EPS quarters for a YoY sequence.
Operating marginNot enough data
—
No year-ago comparison
The business is consuming cash
The share count is rising

Business Quality

Not assessed

Not assessed yet — the business is too early-stage for its economics to show in filings.

Fundamentals & Valuation

One of the two valuation perspectives says expensive; intrinsic is the dissenting view.
NuScale Power Corporation has an Expensive valuation stance because the price embeds expectations that run ahead of the cash it currently generates.

What changed

  • SMR rose 16.2% in one session
    SMR closed +16.2% while the broad market was close to flat (+0.3%).
    2026-11-06

Company Research

Thesis
NuScale is a pre-commercial advanced-reactor technology developer and licensor.
Opportunity
High opportunity
Development and commercialization of factory-oriented small nuclear generation systems intended to provide firm, carbon-free electricity or industrial heat for utilities, data centers, industrial users, remote loads, and constrained power markets.
Key risk
Delay or failure to secure first commercial contract.

Economic classification

Loading the economic classification…

Business & Markets

Industrials · Specialty Industrial Machinery
What they do

NuScale Power Corporation designs and licenses small modular nuclear reactors and provides related engineering, regulatory, training, and commissioning services without operating power plants directly.

How it earns

Project-based revenue from licensing, design, engineering, and support services related to small modular reactor deployment.

Products & services
NuScale Power Module (77 MWe small modular reactor)
Regulatory licensing support
Plant design and engineering services
Training and commissioning support
Customers & end markets
Utilities
Industrial users
Data centers
Remote power markets
Market position

Leader in the U.S. Small modular reactor market with the only NRC-certified SMR design.

Demand drivers
Low cyclicality

Demand driven by long-term infrastructure and energy transition projects rather than short-term economic cycles.