NuScale Power Corporation (SMR) financials
NYSE · Industrials · Electrical Equipment & Parts · 428 employees · CEO John Lawrence Hopkins
- Price
- $5.62 -5.07%
- Market cap
- $1.68B
- Enterprise value
- $915M
- Last report
- Q2 '26 filed 2026-08-05
- Next report
- 2026-11-05
Revenue (TTM)$10.7M-81.0% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)-6,854.0%-6,620.1 pp vs a year agoOperating income -$733M
Net income (TTM)-$416M-235.0% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-$777M-715.2% vs a year agoCapex $508K
Diluted EPS (TTM)-$2.57-116.0% vs a year agoSum of the last 4 quarters
Net cash$1.07B+153.4% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $1.68B EV $915M
- Revenue
- $10.7M Trailing 12 months
- Revenue growth
- – Next fiscal year
- Profit margin
- -3,888.7% Net income / revenue, TTM
- P/E
- -2.2×
- P/S
- 156.8× Price / sales, TTM
- EV / EBITDA
- -1.3× TTM
- Free cash flow
- -$777M Trailing 12 months
- Net income
- -$416M Trailing 12 months
- Revenue estimate
- – Next fiscal year
- Earnings
- 2026-11-05
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-05): revenue missed by 99.1%, EPS in lineRevenue $75K vs $8.8M expected (-99.1%); EPS -$0.13 vs -$0.13 (+0.2%).
- Revenue growth slowing: -99.1% year on yearQ2 '26 revenue $75K, against an average of 544.4% over the four quarters before.
- Operating margin -6,854.0% (TTM), -6,620.1 pp on a year agoOperating income grew -458.1% while revenue grew -81.0%.
- Capex 4.8% of revenue (a year ago 0.1%)$508K invested in the last 4 quarters (+1,054.5% on a year earlier). Free cash flow -$777M.
- Diluted share count up 22.7% in a year164M diluted shares in Q2 '26, 133M a year earlier.
- Net cash $1.07BCash + short-term investments $1.07B, debt incl. leases $5.94M; a year ago net cash $421M.
Last quarter: Q2 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $75K | $8.05M | -99.1% |
| Gross margin | -202.7% | 22.1% | -224.8 pp |
| Operating income | -$64M | -$43.1M | -48.6% |
| Operating margin | -85,337.3% | -534.9% | -84,802.4 pp |
| Net income | -$47.5M | -$17.6M | -169.5% |
| Diluted EPS | -$0.29 | -$0.13 | -123.1% |
| Operating cash flow | -$58.2M | -$33.3M | -74.6% |
| Capex | -$1.52M | -$67K | -2,171.6% |
| Free cash flow | -$56.7M | -$33.3M | -70.4% |
| R&D | $18.4M | $11.8M | +56.2% |
| Stock-based compensation | $0 | $0 | – |
Reported vs consensus
2026-08-05| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $75K | $8.8M | -99.1% |
| EPS (as estimated) | -$0.13 | -$0.13 | +0.2% |
From the report of 2026-08-05 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Other | $0 | -100.0% | – | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- -$776M
- Capex
- -$508K
- Buybacks
- $0
- Dividends
- $0
- Acquisitions
- $0
- Net debt issued
- $0
- Stock-based compensation
- $14.7M
- Free cash flow
- -$777M
- Returned to shareholders / FCF
- 0.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & 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) | -2.2× | – | – |
| EV / EBITDA | -1.3× | – | – |
| EV / Sales | 85.6× | 128.9× | 18.4× – 318.8× |
| Price / FCF | -2.2× | – | – |
| Price / Book | 0.4× | 3.7× | 2.0× – 6.6× |
| FCF yield | -46.4% | -31.0% | -76.6% – -6.5% |
| Return on invested capital | -36.3% | -112.5% | -198.4% – -30.5% |
| Return on equity | -31.8% | -63.9% | -154.7% – -22.1% |
Analysts
Consensus target $9.86 (+75.4%)
range $5.00 – $16.00 · rating Buy
Strong buy0
Buy8
Hold4
Sell5
Strong sell0
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.
Every reported line
All 182 figures NuScale Power Corporation tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts and Other Receivables, Net, Current | $13.2M | $12.8M | +3.1% | $8.38M | $21.1M | -60.3% |
| Accounts Payable and Accrued Liabilities, Current | $19.8M | $64.6M | -69.4% | $287M | $47.9M | +497.6% |
| Accounts Receivable, Allowance for Credit Loss | $0 | – | – | $0 | $1M | -100.0% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $1K2025-09-30 | – | – | $1M | – | – |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $17.3M | $18.4M | -6.1% | $16.7M | $17.9M | -6.5% |
| Additional Paid in Capital | $2.89B | $1.1B | +162.0% | $1.9B | $996M | +91.0% |
| Advertising Expense | – | – | – | $35.8M | $20M | +79.2% |
| Amortization of Intangible Assets | – | – | – | $177K | $177K | 0.0% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 28.8M | 161M | -82.1% | 28.3M | 166M | -82.9% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $6.51M | $5.24M | +24.3% | $19.2M | $13.6M | +40.4% |
| Assets | $2.05B | $606M | +237.9% | $1.41B | $545M | +159.3% |
| Assets, Current | $1.1B | $443M | +148.8% | $1.27B | $471M | +170.1% |
| Business Development | $495M2025-09-30 | – | – | $507M | – | – |
| Capital Expenditures Incurred but Not yet Paid | $02026-03-31 | $65K | -100.0% | $02022-12-31 | $0 | – |
| Cash and Cash Equivalents, at Carrying Value | $766M | $298M | +157.5% | $836M | $402M | +108.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $776M | $303M | +156.3% | $842M | $407M | +106.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $430M | -$194M | +321.9% | $435M | $281M | +54.6% |
| Class of Warrant or Right, Outstanding | 02025-12-31 | 0 | – | 0 | 0 | – |
| Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Modification of Contract | -$175K | – | – | – | – | – |
| Contract with Customer, Liability, Current | $240K | $299K | -19.7% | $613K | $762K | -19.6% |
| Contract with Customer, Liability, Noncurrent | $513K | $343K | +49.6% | $335K | $181K | +85.1% |
| Contractual Obligation | $168M | $194M | -13.4% | $398M | – | – |
| Contractual Obligation, to be Paid, after Year Five | $5.45M | – | – | – | – | – |
| Contractual Obligation, to be Paid, Year Five | $1.66M | – | – | – | – | – |
| Contractual Obligation, to be Paid, Year Four | $1.65M | $3.3M | -50.1% | $34K | – | – |
| Contractual Obligation, to be Paid, Year One | $39.9M | $86.1M | -53.7% | $339M | – | – |
| Contractual Obligation, to be Paid, Year Three | $14.2M | $19.2M | -26.2% | $5.13M | – | – |
| Contractual Obligation, to be Paid, Year Two | $106M | $85.9M | +22.9% | $53.8M | – | – |
| Cost of Goods and Services Sold | $227K | $6.27M | -96.4% | $20M | $4.94M | +306.1% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $322K | $1.94M | -83.4% |
| Deferred Tax Assets, Capital Loss Carryforwards | $127K2025-12-31 | $69K | +84.1% | $127K | $69K | +84.1% |
| Deferred Tax Assets, Gross | $1.31B2025-12-31 | $250M | +426.2% | $1.31B | $250M | +426.2% |
| Deferred Tax Assets, Investment in Subsidiaries | $1.21B2025-12-31 | $219M | +453.2% | $1.21B | $219M | +453.2% |
| Deferred Tax Assets, Net | $02025-12-31 | $0 | – | $0 | $0 | – |
| Deferred Tax Assets, Net of Valuation Allowance | $02025-12-31 | $0 | – | $0 | $0 | – |
| Deferred Tax Assets, Operating Loss Carryforwards | $98.5M2025-12-31 | $30M | +227.8% | $98.5M | $30M | +227.8% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $02025-12-31 | $17K | -100.0% | $0 | $17K | -100.0% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $1.74M2025-12-31 | $203K | +756.2% | $1.74M | $203K | +756.2% |
| Deferred Tax Assets, Valuation Allowance | $1.31B2025-12-31 | $250M | +426.2% | $1.31B | $250M | +426.2% |
| Defined Contribution Plan, Cost | $497K | $365K | +36.2% | $2.12M | $2.1M | +1.2% |
| Depreciation | $289K | $260K | +11.2% | $1M | $1.67M | -39.7% |
| Depreciation, Depletion and Amortization | $334K | $305K | +9.5% | – | – | – |
| Earnings Per Share, Basic | -$0.13 | -$0.13 | 0.0% | -$2.17 | -$1.47 | -47.6% |
| Earnings Per Share, Diluted | -$0.13 | -$0.13 | 0.0% | -$2.17 | -$1.47 | -47.6% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | -$139M | -$72.8M | -91.7% |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | – | – |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | – | – | – | $75.4M | $11.1M | +582.1% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | – | – | – | -11.3% | – | – |
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | – | – | – | $0 | – | – |
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent | – | – | – | 0.0% | – | – |
| Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount | – | – | – | -$64.8M | -$43.9M | -47.6% |
| Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Percent | – | – | – | 9.8% | – | – |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | – | – | – | $268K | $244K | +9.8% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | – | – | – | 0.0% | – | – |
| Effective Income Tax Rate Reconciliation, Percent | 0.0% | 0.0% | – | 0.0% | 5.0% | -100.0% |
| Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | – | – | – | -$3.35M | -$1.7M | -97.1% |
| Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | – | – | – | 0.5% | – | – |
| Effective Income Tax Rate Reconciliation, Tax Credit, Amount | – | – | – | $0 | – | – |
| Effective Income Tax Rate Reconciliation, Tax Credit, Percent | – | – | – | 0.0% | – | – |
| EffectiveIncomeTaxRateReconciliationCrossBorderTaxEffectAmount | – | – | – | $0 | – | – |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02