Energy Fuels Inc. (UUUU) financials

AMEX · Energy · Uranium · 1,069 employees · CEO Ross R. Bhappu

Price: $7.71 -6.32%
Market cap: $2.04B
Enterprise value: $2.67B
Last report: Q2 '26 filed 2026-08-05
Next report: 2026-11-04 EPS est. -$0.06

Revenue (TTM)$106M+62.5% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)-88.8%+43.0 pp vs a year agoOperating income -$93.9M

Net income (TTM)-$81.7M+12.2% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)-$111M-1.7% vs a year agoCapex $57.7M

Diluted EPS (TTM)-$0.33+32.0% vs a year agoSum of the last 4 quarters

Net cash$255M+28.8% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $2.04B
Revenue: $106M
Revenue growth: +93%
Profit margin: -77.3%
P/E: -23.0×
P/S: 19.3×
EV / EBITDA: -35.5×
Free cash flow: -$111M
Net income: -$81.7M
Revenue estimate: $127M
Earnings: 2026-11-04
Dividend: –

Key takeaways

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

Last report (2026-08-06): revenue missed by 18.4%, EPS missed by 160.0%Revenue $25.1M vs $30.8M expected (-18.4%); EPS -$0.13 vs -$0.05 (-160.0%).
Revenue growth accelerating: 496.1% year on yearQ2 '26 revenue $25.1M, against an average of 91.5% over the four quarters before.
Operating margin -88.8% (TTM), +43.0 pp on a year agoOperating income grew -9.4% while revenue grew 62.5%.
Capex 54.6% of revenue (a year ago 21.3%)$57.7M invested in the last 4 quarters (+317.4% on a year earlier). Free cash flow -$111M.
Diluted share count up 5.9% in a year233M diluted shares in Q2 '26, 220M a year earlier.
Net cash $255MCash + short-term investments $937M, debt incl. leases $682M; a year ago net cash $198M.

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	$25.1M	$4.21M	+496.1%
Gross margin	57.4%	-39.1%	+96.5 pp
Operating income	-$30.6M	-$26.2M	-16.8%
Operating margin	-121.8%	-621.4%	+499.7 pp
Net income	-$33.4M	-$21.8M	-53.0%
Diluted EPS	-$0.13	-$0.10	-31.0%
Operating cash flow	-$26.1M	-$25.9M	-0.5%
Capex	$12.2M	-$2.6M	+570.3%
Free cash flow	-$38.3M	-$23.3M	-64.2%
R&D	$0	$0	–
Stock-based compensation	$3.64M	$2.89M	+26.2%

Reported vs consensus

2026-08-06

	Actual	Consensus	vs consensus
Revenue	$25.1M	$30.8M	-18.4%
EPS (as estimated)	-$0.13	-$0.05	-160.0%

From the report of 2026-08-06 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 reports

Revenue

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

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q3 '17	y/y	Share	TTM	TTM y/y	12 quarters
Conventional Segment	$3.5M	-59.8%	100.0%	$55.5M	–
ISR Segment	$0	–	0.0%	$21.3M	–

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q2 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Uranium Segment	–	–	$271K	+103.1%	–	–	-$13M
Heavy Mineral Sands Segment	–	–	-$13.6M	-5.3%	–	–	-$46.6M
Rare Earth Elements Segment	–	–	-$6.54M	-40.8%	–	–	-$23.6M
Corporate (unallocated)	–	–	-$10.7M	–	–	–	–

Operating income by segment

quarterly

Segment operating margin

quarterly

Fourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.

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: -$53.3M
Capex: -$57.7M
Buybacks: -$2.83M
Dividends: $0
Acquisitions: -$4.33M
Net debt issued: $676M
Stock-based compensation: $14.3M
Free cash flow: -$111M
Returned to shareholders / FCF: -2.5%

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)	-23.0×	387.2× 2 of 5 years	11.4× – 763.0×
EV / EBITDA	-35.5×	91.5× 2 of 5 years	10.5× – 172.4×
EV / Sales	25.2×	99.4×	10.8× – 323.6×
Price / FCF	-18.4×	–	–
Price / Book	2.3×	3.5×	1.7× – 5.0×
FCF yield	-5.4%	-5.2%	-9.3% – -2.7%
Return on invested capital	-6.3%	-10.2%	-17.6% – -6.7%
Return on equity	-11.3%	-3.9%	-24.9% – 26.6%

Analysts

Consensus target $21.06 (+173.2%)
range $16.00 – $29.25 · rating Buy

Strong buy0

Buy7

Hold2

Sell0

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	$127M	+92.6%	-$0.27	+27.0%	-28.5×	3
FY2027	$245M	+92.6%	$0.13	+149.0%	58.2×	2
FY2028	$410M	+67.6%	$0.29	+117.6%	26.8×	1
FY2029	$663M	+61.7%	$0.90	+211.6%	8.6×	1
FY2030	$1.13B	+69.9%	$1.53	+70.9%	5.0×	1

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

Every reported line

All 230 figures Energy Fuels Inc. 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
	$2.33M	$39K	+5,879.5%	–	–	–
Accounts Payable and Accrued Liabilities, Current	$29.2M	$22.2M	+31.7%	$25M	$32.2M	-22.5%
Accounts Payable, Current	$5.49M	$4.91M	+11.7%	$5.29M	$7.51M	-29.5%
Accounts Receivable, after Allowance for Credit Loss	$16M2025-12-31	$29M	-44.9%	$16M	$29M	-44.9%
Accounts Receivable, Allowance for Credit Loss, Current	$0	$0	–	$223K2023-12-31	$223K	0.0%
Accounts Receivable, before Allowance for Credit Loss	$16M2025-12-31	$29M	-44.9%	$16M	$29M	-44.9%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$51.9M	$44.2M	+17.5%	$48M	$40.7M	+17.7%
Accumulated Other Comprehensive Income (Loss), Net of Tax	$170K	-$2.98M	+105.7%	-$2.9M	-$6.07M	+52.3%
Amortization of Debt Issuance Costs	$996K	–	–	$1.02M	–	–
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3.52M	5.07M	-30.6%	4.19M	1.96M	+113.8%
Asset Retirement Obligation	$23.5M	$31.9M	-26.2%	$22.2M	$44.1M	-49.7%
Asset Retirement Obligation, Accretion Expense	$3.71M	$862K	+330.5%	$3.22M	$2.07M	+55.8%
Asset Retirement Obligation, Current	$2.5M	$11M	-77.3%	$788K	$24.6M	-96.8%
Asset Retirement Obligation, Liabilities Incurred	$597K2026-03-31	–	–	$0	$34.2M	-100.0%
Asset Retirement Obligation, Liabilities Settled	$1.22M	$6.54M	-81.4%	$25.1M	$3.21M	+684.3%
Asset Retirement Obligation, Revision of Estimate	–	–	–	$0	-$165K	+100.0%
Asset Retirement Obligations, Noncurrent	$21M	$20.9M	+0.8%	$21.4M	$19.5M	+9.7%
AssetAcquisitionConsiderationTransferredContingentConsideration	–	–	–	$1.69M2024-08-16	–	–
AssetAcquisitionContingentConsiderationLiabilityCurrent	$1.77M	$1.72M	+2.6%	$1.72M	$1.76M	-2.3%
Assets	$1.53B	$702M	+118.3%	$1.41B	$612M	+130.7%
Assets, Current	$1.03B	$289M	+257.6%	$959M	$230M	+316.5%
Assets, Fair Value Disclosure	$903M	$139M	+547.9%	$807M	$80.9M	+898.5%
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	–	–	–	$39.5M2024-10-02	–	–
Business Combination, Acquisition Related Costs	$10.7M	$0	–	$0	$10.3M	-100.0%
Cash and Cash Equivalents, at Carrying Value	$58.4M	$71.5M	-18.3%	$64.7M	$38.6M	+67.7%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$81.3M	$91.8M	-11.5%	$87.2M	$58.6M	+48.8%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$49.8M	-$1.33M	-3,638.9%	$28.6M	-$16.4M	+274.2%
Collateral Already Posted, Aggregate Fair Value	$2.47M2025-12-31	$1.9M	+30.1%	$2.47M	$1.9M	+30.1%
Common Stock, Shares, Issued	250M	229M	+8.9%	240M	199M	+21.0%
Common Stock, Shares, Outstanding	250M	229M	+8.9%	240M	199M	+21.0%
Common Stock, Value, Issued	$1.33B	$1.1B	+21.1%	$1.17B	$938M	+24.9%
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	-$225K	-$28K	-703.6%	-$477K	-$76K	-527.6%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	-$32.7M	-$18.1M	-80.3%	-$82.5M	-$51.9M	-58.9%
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	-$32.9M	-$18.2M	-81.3%	-$82.9M	-$52M	-59.6%
Contract with Customer, Asset, after Allowance for Credit Loss	$13.1M	$330K	+3,872.7%	–	–	–
Contract with Customer, Liability, Current	$02025-09-30	$600K	-100.0%	–	–	–
Cost of Revenue	$10.7M	$3.66M	+192.5%	$52.2M	$55.9M	-6.7%
Costs and Expenses	$55.7M	$30.4M	+83.2%	$167M	$126M	+33.0%
Debt Instrument, Fair Value Disclosure	$725M	–	–	$721M	–	–
Debt Issuance Costs, Net	$22.3M	–	–	$24.3M	–	–
Debt Securities, Available-for-sale	$776M2025-12-31	$64.1M	+1,111.8%	$776M	$64.1M	+1,111.8%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	$137M2025-12-31	$64.1M	+113.5%	$137M	$64.1M	+113.5%
Debt Securities, Trading, and Equity Securities, FV-NI	$797M2025-12-31	$80.9M	+885.9%	$797M	$80.9M	+885.9%
Deferred Revenue, Current	$02025-12-31	$813K	-100.0%	$0	$813K	-100.0%
Deferred Tax Assets, Capital Loss Carryforwards	$861K2025-12-31	$837K	+2.9%	$861K	$837K	+2.9%
Deferred Tax Assets, Gross	$175M2025-12-31	$162M	+8.3%	$175M	$162M	+8.3%
Deferred Tax Assets, Inventory	$1.97M2025-12-31	$832K	+136.2%	$1.97M	$832K	+136.2%
Deferred Tax Assets, Investments	$209K2025-12-31	$209K	0.0%	$209K	$209K	0.0%
Deferred Tax Assets, Net of Valuation Allowance	$02025-12-31	$0	–	$0	$0	–
Deferred Tax Assets, Operating Loss Carryforwards	$136M2025-12-31	$117M	+15.9%	$136M	$117M	+15.9%
Deferred Tax Assets, Property, Plant and Equipment	$1.91M2025-12-31	$8.91M	-78.5%	$1.91M	$8.91M	-78.5%
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals	$7.17M2025-12-31	$6.92M	+3.6%	$7.17M	$6.92M	+3.6%
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Asset Retirement Obligations	$1.42M2025-12-31	$1.91M	-25.8%	$1.42M	$1.91M	-25.8%
Deferred Tax Assets, Valuation Allowance	$175M2025-12-31	$162M	+8.3%	$175M	$162M	+8.3%
Deposit Contracts, Liabilities	$3M	–	–	$3M	$0	–
Deposit Liabilities, Accrued Interest	$875K	–	–	$1.31M	$0	–
Depreciation	$1.45M	$1.25M	+16.0%	$5.07M	$2.99M	+69.6%
Depreciation, Depletion and Amortization	$1.67M	$1.34M	+24.4%	$5.43M	$3.13M	+73.7%
Earnings Per Share, Basic	-$0.13	-$0.10	-30.0%	-$0.38	-$0.28	-35.7%
Earnings Per Share, Diluted	-$0.13	-$0.10	-30.0%	-$0.38	-$0.28	-35.7%

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