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NuScale Power Corporation

NuScale Power Corporation

NYSE•SMR
CEO: Mr. John L. Hopkins
Sector: Utilities
Industry: Renewable Utilities
Listing Date: 2022-03-01
NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs. The company was founded in 2007 and is headquartered in Portland, Oregon. NuScale Power Corporation operates as a subsidiary of Fluor Enterprises, Inc.
Contact Information
12725 SW 66th Avenue, Suite 107, Portland, OR, 97223, United States
971-371-1592
www.nuscalepower.com
Market Cap
$5.48B
P/E (TTM)
-7.1
85.1
Dividend Yield
--
52W High
$57.42
52W Low
$11.08
52W Range
16%
Rank61Top 80.3%
2.4
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Weak • 2.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2024

Financial Dashboard

Q3 2025 Data

Revenue

$8.24M+1635.16%
4-Quarter Trend

EPS

-$1.85+927.78%
4-Quarter Trend

FCF

-$199.94M+1470.87%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Surge Q3 3M Revenue reached $8.242M, up over 1,600% from $475K in Q3 2024, driven by services supporting RoPower deployment.
Nine Months Revenue Growth Totaled $29.671M for nine months 2025, reflecting 952% growth versus $2.821M reported last year due to licensing fees.
Capital Raised via ATM Secured $562.4M net proceeds from Class A stock sales through ATM programs during the first nine months of 2025.
LLM Ownership Secured Finalized LLM Settlement payment of $32.3M, securing sole legal ownership of long-lead materials in October 2025.

Risk Factors

Widening Net Loss Net Loss attributable to Class A stockholders hit $(273.3M) for the quarter, a substantial increase in quarterly operating loss.
Increased Cash Burn Net cash used in operating activities rose sharply to $(255.9M) for the nine months ended September 30, 2025.
Internal Control Weakness Disclosure controls deemed not effective as of September 30, 2025, due to material weakness in ITGC and personnel support.
Milestone Expense Hit Recognized $495.0M Milestone Contribution 1 expense without guaranteed corresponding revenue generation from ENTRA1 partnership.

Outlook

Fluor Exchange Agreement Executed November 2025 agreement with Fluor to exchange Class B units for Class A common stock shares, limiting sales.
TRA Payment Reduction Amended TRA agreement with Fluor, reducing future tax payments due to Fluor by 50% effective November 2025.
Control System Remediation Investing resources to hire qualified personnel and implement ITGCs to fully remediate identified material weakness in reporting.
Commercial Focus Shift Continuing transition from R&D focus to commercialization, evidenced by increased revenue from RoPower engineering services.

Peer Comparison

Revenue (TTM)

Korea Electric Power CorporationKEP
$69.19B
+5.3%
The AES CorporationAES
$12.09B
-1.5%
Companhia de Saneamento Básico do Estado de São Paulo - SABESPSBS
$7.23B
+15.9%

Gross Margin (Latest Quarter)

Korea Electric Power CorporationKEP
100.0%
+84.2pp
Evergy, Inc.EVRG
41.7%
-15.0pp
Companhia de Saneamento Básico do Estado de São Paulo - SABESPSBS
31.8%
-41.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
KEP$21.45B5.015.6%0.0%
SBS$17.22B13.018.2%36.4%
EVRG$16.99B20.08.5%44.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-37.8%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Mar 2, 2026
|
EPS:-$0.11
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $8.24M+1635.2%
    |
    EPS: $-1.85+927.8%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $8.05M+732.9%
    |
    EPS: $-0.13-58.1%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 12, 2025|
    Revenue: $13.38M+869.9%
    |
    EPS: $-0.11-47.6%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 3, 2025|
    Revenue: $37.05M+62.4%
    |
    EPS: $-1.47-83.8%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $475.00K-93.2%
    |
    EPS: $-0.18-30.8%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 9, 2024|
    Revenue: $967.00K-83.3%
    |
    EPS: $-0.31+138.5%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $1.38M-75.0%
    |
    EPS: $-0.21+31.3%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 15, 2024|
    Revenue: $22.81M+93.2%
    |
    EPS: $-0.80-56.9%
    Miss