Cameco Corporation (CCJ) financials

NYSE · Energy · Uranium · 3,082 employees · CEO Timothy S. Gitzel

Price: $76.91 -7.88%
Market cap: $33.5B
Enterprise value: CA$47B
Last report: Q3 '26 filed 2026-10-30
Next report: 2027-02-12

Revenue (TTM)CA$3.46B-0.1% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)12.6%-5.4 pp vs a year agoOperating income CA$438M

Net income (TTM)CA$397M-24.6% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)CA$338M-65.3% vs a year agoCapex CA$427M

Diluted EPS (TTM)CA$0.91-24.5% vs a year agoSum of the last 4 quarters

Net cash-CA$150M+34.5% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $33.5B
Revenue: CA$3.46B
Revenue growth: +2%
Profit margin: 11.5%
P/E: 117.5×
P/S: 13.5×
EV / EBITDA: 53.9×
Free cash flow: CA$338M
Net income: CA$397M
Revenue estimate: CA$3.54B
Earnings: 2027-02-12
Dividend: $0.17

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Revenue growth accelerating: -1.9% year on yearQ3 '26 revenue CA$603M, against an average of -3.3% over the four quarters before.
Operating margin 12.6% (TTM), -5.4 pp on a year agoOperating income grew -30.1% while revenue grew -0.1%.
13.9% of pre-tax profit is non-operatingPre-tax income CA$508M vs operating income CA$438M (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
Capex 12.3% of revenue (a year ago 8.3%)CA$427M invested in the last 4 quarters (+48.1% on a year earlier). Free cash flow CA$338M = 85.1% of net income.
Returned CA$104M to shareholders = 31.0% of free cash flowBuybacks CA$0 (a year earlier CA$0), dividends CA$104M, stock-based pay CA$5.61M (TTM).
Diluted share count up 0.0% in a year436M diluted shares in Q3 '26, 435M a year earlier.
Net debt CA$150MCash + short-term investments CA$863M, debt incl. leases CA$1.01B; a year ago net debt CA$229M.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q3 '26	Year ago	Change
Revenue	CA$603M	CA$615M	-1.9%
Gross margin	16.1%	37.3%	-21.3 pp
Operating income	CA$25.1M	CA$93M	-73.0%
Operating margin	4.2%	15.1%	-11.0 pp
Net income	CA$41.6M	-CA$141K	+29,604.2%
Diluted EPS	CA$0.10	-CA$0.00	+31,933.3%
Operating cash flow	-CA$52.6K	CA$156M	-100.0%
Capex	CA$134M	CA$92.5M	+44.5%
Free cash flow	-CA$134M	CA$63.2M	-311.6%
R&D	CA$12.5M	CA$10.3M	+21.8%
Stock-based compensation	CA$0	CA$2.45M	-100.0%

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: CA$765M
Capex: -CA$427M
Buybacks: CA$0
Dividends: -CA$104M
Acquisitions: CA$179K
Net debt issued: -CA$2.28M
Stock-based compensation: CA$5.61M
Free cash flow: CA$338M
Returned to shareholders / FCF: 31.0%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	117.5×	121.5× 4 of 5 years	68.7× – 184.8×
EV / EBITDA	53.9×	46.7×	32.5× – 72.7×
EV / Sales	13.5×	10.0×	6.6× – 15.7×
Price / FCF	152.4×	50.2×	30.5× – 77.2×
Price / Book	6.5×	4.3×	2.1× – 7.9×
FCF yield	0.7%	2.2%	1.3% – 3.3%
Return on invested capital	3.5%	1.8%	-1.9% – 4.8%
Return on equity	5.6%	3.3%	-2.1% – 8.5%

Analysts

Consensus target $133.60 (+73.7%)
range $95.00 – $175.00 · rating Buy

Strong buy1

Buy13

Hold5

Sell2

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	CA$3.54B	+1.8%	CA$1.40	+3.8%	–	6
FY2027	CA$4B	+13.1%	CA$2.55	+81.8%	–	12
FY2028	CA$4.35B	+8.7%	CA$3.30	+29.4%	–	6
FY2029	CA$4.58B	+5.2%	CA$3.99	+20.9%	–	9
FY2030	CA$4.82B	+5.3%	CA$5.19	+30.1%	–	5

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02 · Amounts in CAD as reported; price and market cap in USD.