enCore Energy (EU) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 30, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EU SEC filings page.
enCore Energy Corp. (EU) reported $43.2M in revenue for fiscal year 2025, down 26.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Gross profitability recovered in FY2025, but overhead, investment spending, and leverage still kept the business deeply cash-consuming.
Revenue fell26.0% , while cost of revenue fell48.9% . That combination lifted gross margin by34.8 percentage points despite lower sales, pointing to cost or mix effects rather than scale-driven expansion.
Gross profit reached
Operating cash flow was
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of enCore Energy Corp.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
enCore Energy Corp.'s reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 15/100.
enCore Energy Corp.'s revenue declined 26.0% year-over-year, from $58.3M to $43.2M. This contraction results in a growth score of 95/100.
enCore Energy Corp. carries a low D/E ratio of 0.48, meaning only $0.48 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 65/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 8.03, enCore Energy Corp. holds $8.03 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 96/100.
enCore Energy Corp.'s reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 6/100.
enCore Energy Corp. posts a -24.8% return on equity (ROE), meaning it loses $25 for every $100 of shareholders' equity. This results in a returns score of 30/100. This is down from -21.5% the prior year.
enCore Energy Corp. scores -0.33, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $207.7M against total assets of $430.4M. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
enCore Energy Corp. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
enCore Energy Corp. reported a net loss of $56.9M while operations used $25.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
enCore Energy Corp. reported an operating loss of $65.8M against $3.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
enCore Energy Corp. generated $15.7M in revenue in Q2 2026. This represents an increase of 328.4% from the same quarter a year earlier. Against the prior quarter it is down 14.2%.
enCore Energy Corp.'s EBITDA was -$27.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 348.5%.
enCore Energy Corp. reported a net loss of $41.4M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 867.0%.
enCore Energy Corp. earned -$0.21 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 800.0%.
Cash & Balance Sheet
enCore Energy Corp. held $21.8M in cash against $110.5M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
enCore Energy Corp.'s gross margin was -16.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 47.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 16.1 percentage points.
enCore Energy Corp.'s quarterly ROE was -18.7% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 16.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 20.8 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q2 2026.
EU Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.7M+328.4% | $18.3M+0.3% | $12.4M-7.4% | $8.9M-4.1% | $3.7M-31.1% | $18.2M-40.0% | $13.4M | $9.3M |
| Cost of Revenue | $18.3M+621.1% | $18.4M+0.6% | $7.7M-43.7% | $5.0M-53.0% | $2.5M-75.7% | $18.3M-40.8% | $13.7M | $10.6M |
| Gross Profit | -$2.6M-328.0% | -$64Kn/m | $4.7Mn/m | $3.9Mn/m | $1.1Mn/m | -$23Kn/m | -$288K | -$1.3M |
| SG&A Expenses | $13.8M+36.9% | $10.2M+26.4% | $12.6M+158.9% | $11.9M+27.0% | $10.1M+100.8% | $8.0M+45.9% | $4.9M | $9.4M |
| Operating Income | -$29.5Mn/m | $10.0Mn/m | -$16.8Mn/m | -$14.0Mn/m | -$19.3Mn/m | -$15.6Mn/m | -$20.1M | -$17.4M |
| EBITDA | -$27.8Mn/m | $11.2Mn/m | -$15.0Mn/m | -$12.8Mn/m | -$18.6Mn/m | -$14.5Mn/m | -$19.1M | -$16.5M |
| Interest Expense | $1.8M+657.9% | $1.8M+424.6% | $1.8M+293.0% | $1.1M+136.6% | $240K-46.1% | $346K-13.3% | $446K | $445K |
| Income Tax | $0n/m | -$193Kn/m | -$364Kn/m | $58Kn/m | $0n/m | -$182Kn/m | $0 | -$283K |
| Net Income | -$41.4Mn/m | $5.4Mn/m | -$21.5Mn/m | -$4.8Mn/m | -$6.3Mn/m | -$24.2Mn/m | -$17.1M | -$15.8M |
| EPS (Basic) | -$0.21n/m | $0.03n/m | -$0.11n/m | -$0.03n/m | -$0.03n/m | -$0.13n/m | -$0.09 | -$0.09 |
| EPS (Diluted) | -$0.21n/m | $0.03n/m | -$0.11n/m | -$0.03n/m | -$0.03n/m | -$0.13n/m | -$0.09 | -$0.09 |
| Diluted Shares (Avg) | 194M+3.9% | 191M+2.8% | N/A | 187M+1.2% | 187M+2.0% | 186M+7.3% | 186M | 185M |
Not reported in any period shown, so not listed: R&D Expenses.
EU Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $416.7M+15.9% | $451.7M+24.6% | $430.4M+9.6% | $441.9M+11.0% | $359.4M-11.9% | $362.6M-14.2% | $392.7M+20.3% | $398.2M |
| Current Assets | $99.5M+99.3% | $133.5M+147.1% | $109.8M+25.6% | $129.1M+34.5% | $49.9M-52.9% | $54.0M-55.7% | $87.4M+245.3% | $96.0M |
| Cash & Equivalents | $21.8M-18.9% | $41.6M+39.9% | $52.4M+32.0% | $91.9M+98.4% | $26.9M-51.8% | $29.7M-67.0% | $39.7M+429.8% | $46.3M |
| Short-Term Investments | N/A | N/A | N/A | N/A | N/A | N/A | $24.0M+42.4% | $20.6M |
| Inventory | $14.4M+48.7% | $9.9M+60.7% | $5.3M-74.6% | $11.0M-59.9% | $9.7M-63.8% | $6.2M-42.7% | $21.0M+232866.7% | $27.4M |
| Accounts Receivable | $0 | $5.0M | $4.9Mn/m | N/A | N/A | N/A | $0 | N/A |
| Long-Term Investments | N/A | N/A | N/A | N/A | N/A | N/A | $837K-72.5% | $755K |
| Total Liabilities | $171.5M+166.1% | $170.5M+171.9% | $172.0M+131.9% | $164.1M+149.9% | $64.5M+3.1% | $62.7M+0.6% | $74.2M+14.8% | $65.7M |
| Current Liabilities | $12.4M-37.0% | $12.1M-34.4% | $13.7M-54.5% | $9.5M-65.1% | $19.7M-18.5% | $18.4M-23.9% | $30.1M+378.9% | $27.2M |
| Non-Current Liabilities | $159.1M+255.5% | $158.4M+257.4% | $158.4M+259.1% | $154.7M+301.6% | $44.7M+16.7% | $44.3M+16.1% | $44.1M-24.4% | $38.5M |
| Long-Term Debt | $110.5M | $110.2M | $110.0Mn/m | $109.3M | N/A | N/A | $0-100.0% | N/A |
| Total Equity | $221.9M-16.2% | $254.8M-4.9% | $229.2M-19.8% | $248.6M-16.5% | $264.7M-14.1% | $267.9M-16.6% | $285.7M+9.1% | $297.5M |
| Retained Earnings | -$243.7Mn/m | -$202.3Mn/m | -$207.7Mn/m | -$186.2Mn/m | -$181.4Mn/m | -$175.1Mn/m | -$150.8Mn/m | -$134.3M |
Not reported in any period shown, so not listed: Goodwill.
EU Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$21.1Mn/m | -$21.4Mn/m | $12.9M+3242.4% | -$20.3Mn/m | -$9.9Mn/m | -$7.7Mn/m | $387K | -$5.5M |
| Depreciation & Amortization | $1.7M+134.0% | $1.2M+7.0% | $1.8M+88.1% | $1.2M+41.2% | $724K-6.7% | $1.1M+53.0% | $958K | $884K |
| Stock-Based Compensation | N/A | $2.4M+170.4% | N/A | N/A | N/A | $878K+7.3% | N/A | N/A |
| Capital Expenditures | N/A | N/A | $5.8M-5.5% | $6.0M+312.3% | $4.2M+94.0% | $4.0M+149.3% | $6.1M | $1.5M |
| Free Cash Flow | N/A | N/A | $7.2Mn/m | -$26.3Mn/m | -$14.1Mn/m | -$11.7Mn/m | -$5.7M | -$6.9M |
| Investing Cash Flow | -$5.5M-198.6% | -$6.0Mn/m | -$32.5Mn/m | -$11.6Mn/m | $5.6Mn/m | -$7.7Mn/m | -$11.6M | -$7.5M |
| Financing Cash Flow | $0-100.0% | $17.9M+231.0% | -$19.6M-520.6% | $97.7M+2740.6% | $1.1M-88.2% | $5.4M-94.0% | $4.6M | $3.4M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
EU Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -16.4%-47.3pp | -0.4%-0.2pp | 37.9%+40.1pp | 43.8%+58.3pp | 30.8%+126.9pp | -0.1%+1.4pp | -2.2% | -14.5% |
| Operating Margin | -187.9% | 54.4%+140.1pp | -135.9% | -158.2% | -526.1% | -85.7%-45.3pp | -150.3% | -187.5% |
| Net Margin | -264.1% | 29.5% | -173.9% | -53.6% | -172.7% | -132.9% | -128.0% | -171.2% |
| Return on Equity | -18.7%-16.3pp | 2.1%+11.2pp | -9.4%-3.4pp | -1.9%+3.4pp | -2.4%+4.8pp | -9.0%-6.8pp | -6.0% | -5.3% |
| Return on Assets | -10.0%-8.2pp | 1.2%+7.9pp | -5.0%-0.7pp | -1.1%+2.9pp | -1.8%+3.6pp | -6.7%-5.0pp | -4.3% | -4.0% |
| Current Ratio | 8.00+5.5x | 11.08+8.1x | 8.03+5.1x | 13.64+10.1x | 2.53-1.8x | 2.94-2.1x | 2.91-1.1x | 3.53 |
| Debt-to-Equity | 0.50 | 0.43 | 0.48+0.5x | 0.44 | N/A | N/A | 0.00-0.1x | N/A |
| Liabilities-to-Equity | 0.77+0.5x | 0.67+0.4x | 0.75+0.5x | 0.66+0.4x | 0.240.0x | 0.230.0x | 0.260.0x | 0.22 |
| Asset Turnover | 0.040.0x | 0.040.0x | 0.030.0x | 0.020.0x | 0.010.0x | 0.050.0x | 0.03 | 0.02 |
| FCF Margin | N/A | N/A | 57.8%+100.7pp | -296.6% | -385.2% | -64.1%-48.9pp | -42.9% | -74.9% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| enCore Energy Corp. EU | FY2025 | $43.2M | -$56.9M | N/A | $137.8M | 51/100 |
| Eagle Nuclear Energy Corp. NUCL | FY2025 | N/A | -$5.3M | N/A | $134.5M | — |
| Anfield Energy Inc. AEC | FY2025 | N/A | -$14.4M | N/A | $60.5M | — |
| Ur-Energy Inc. URG | FY2025 | $27.2M | -$74.9M | N/A | $338.9M | 45/100 |
| IsoEnergy Ltd. ISOU | FY2025 | N/A | -$821K | N/A | $565.8M | — |
| Uranium Royalty Corp. UROY | FY2026 | $186.8M | $40.2M | 21.6% | $1.3B | 73/100 |
Where enCore Energy Corp. Ranks
Frequently Asked Questions
enCore Energy Corp. (EU) reported $43.2M in total revenue for fiscal year 2025. This represents a -26.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
enCore Energy Corp. (EU) revenue declined by 26.0% year-over-year, from $58.3M to $43.2M in fiscal year 2025.
No, enCore Energy Corp. (EU) reported a net loss of $56.9M in fiscal year 2025.
enCore Energy Corp. (EU) had EBITDA of -$60.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, enCore Energy Corp. (EU) had $52.4M in cash and equivalents against $110.0M in long-term debt.
enCore Energy Corp. (EU) had a gross margin of 22.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
enCore Energy Corp. (EU) has a return on equity of -24.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
enCore Energy Corp. (EU) recorded an outflow of $45.0M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
enCore Energy Corp. (EU) recorded an outflow of $25.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
enCore Energy Corp. (EU) had $430.4M in total assets as of fiscal year 2025, including both current and long-term assets.
enCore Energy Corp. (EU) invested $20.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
enCore Energy Corp. (EU) had a current ratio of 8.03 as of fiscal year 2025, which is generally considered healthy.
enCore Energy Corp. (EU) had a debt-to-equity ratio of 0.48 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
enCore Energy Corp. (EU) had a liabilities-to-equity ratio of 0.75 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
enCore Energy Corp. (EU) had a return on assets of -13.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
enCore Energy Corp. (EU) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $137.8M as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
enCore Energy Corp. (EU) trades at 2.5x sales, its market capitalization divided by $55.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $137.8M as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
enCore Energy Corp. (EU) has an Altman Z-Score of -0.33, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
enCore Energy Corp. (EU) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
enCore Energy Corp. (EU) reported a net loss of $56.9M while operations used $25.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
enCore Energy Corp. (EU) reported an operating loss of $65.8M against $3.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
enCore Energy Corp. (EU) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.