enCore Energy Corp. (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 Sep 15, 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).
Revenue contraction coincided with gross-margin recovery, but rising overhead and capital spending keep external financing central.
In FY2025, revenue fell to$43.2M while gross margin recovered to22.5% from a negative level, pointing to cost-of-revenue normalization or mix change rather than scale-led operating leverage. That improvement did not reach operating earnings: SG&A climbed to$42.6M , leaving the operating margin at-152.4% .
Operating cash flow improved to
External financing supplied
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 17/100.
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. has a moderate D/E ratio of 0.48. This balance of debt and equity financing earns a leverage score of 63/100.
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 5/100.
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 -0.18, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($179.9M) relative to total liabilities ($172.0M). 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 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
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. This represents a decrease of 53.6% from the same quarter a year earlier. Against the prior quarter it is down 348.5%.
enCore Energy Corp. reported -$41.4M in net income in Q2 2026. This represents a decrease of 555.2% from the same quarter a year earlier. Against the prior quarter it is down 867.0%.
enCore Energy Corp. earned -$0.21 per diluted share (EPS) in Q2 2026. This represents a decrease of 600.0% from the same quarter a year earlier. 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 ROE was -18.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. 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-Q | 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% | -$64K-178.3% | $4.7M+1729.9% | $3.9M+389.9% | $1.1M+122.1% | -$23K+95.1% | -$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 | -$29.5M-53.0% | $10.0M+163.7% | -$16.8M+16.2% | -$14.0M+19.1% | -$19.3M+16.1% | -$15.6M-27.3% | -$20.1M | -$17.4M |
| EBITDA | -$27.8M-53.6% | $11.2M+177.3% | -$15.0M+21.5% | -$12.8M+22.8% | -$18.1M+18.4% | -$14.5M-25.6% | -$19.1M | -$16.6M |
| Interest Expense | $1.8M+657.9% | $1.8M+424.6% | $1.8M+293.0% | $1.1M+136.6% | $240K-46.1% | $346K+53.8% | $446K | $445K |
| Income Tax | $0 | -$193K-6.0% | -$364K | $58K+120.5% | $0+100.0% | -$182K+96.4% | $0 | -$283K |
| Net Income | -$41.4M-555.2% | $5.4M+122.3% | -$21.5M-25.9% | -$4.8M+70.0% | -$6.3M+71.3% | -$24.2M-232.9% | -$17.1M | -$15.8M |
| EPS (Basic) | -$0.21-600.0% | $0.03+123.1% | -$0.11-22.2% | -$0.03+66.7% | -$0.03+75.0% | -$0.13-225.0% | -$0.09 | -$0.09 |
| EPS (Diluted) | -$0.21-600.0% | $0.03+123.1% | -$0.11-22.2% | -$0.03+66.7% | -$0.03+75.0% | -$0.13-225.0% | -$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-Q | 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 | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% | $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 | $4.9M | N/A | N/A | N/A | $0 | N/A |
| Long-Term Investments | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% | $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 | $110.0M | $109.3M | N/A | N/A | $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 | -$243.7M-34.4% | -$202.3M-15.5% | -$207.7M-37.7% | -$186.2M-38.6% | -$181.4M-53.5% | -$175.1M-82.6% | -$150.8M-68.6% | -$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-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$21.1M-113.0% | -$21.4M-177.0% | $12.9M+3242.4% | -$20.3M-270.8% | -$9.9M+73.3% | -$7.7M-153.7% | $387K | -$5.5M |
| Depreciation & Amortization | $1.7M+44.3% | $1.2M+7.0% | $1.8M+88.1% | $1.2M+57.6% | $1.2M+50.1% | $1.1M+53.0% | $958K | $792K |
| 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 | $7.2M+224.7% | -$26.3M-279.6% | -$14.1M+64.0% | -$11.7M-152.2% | -$5.7M | -$6.9M |
| Investing Cash Flow | -$5.5M-198.6% | -$6.0M+22.6% | -$32.5M-180.0% | -$11.6M-55.4% | $5.6M+196.1% | -$7.7M-51.4% | -$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-Q | 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+0.3x | 0.43+0.2x | 0.48+0.5x | 0.44+0.2x | 0.240.0x | 0.230.0x | 0.00-0.2x | 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.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| enCore Energy Corp. EU | FY2025 | $43.2M | -$56.9M | N/A | $179.9M | 51/100 |
| Uranium Royalty Corp. UROY | FY2026 | $186.8M | $40.2M | 21.6% | $1.7B | 62/100 |
| Ur-Energy Inc. URG | FY2025 | $27.2M | -$74.9M | N/A | $513.2M | 41/100 |
| Energy Fuels Inc. UUUU | FY2025 | $65.9M | -$86K | -0.1% | $3.4B | 48/100 |
| Denison Mines Corp DNN | FY2017 | $11.1M | -$14.2M | N/A | $2.7B | — |
| Uranium Energy Corp. UEC | FY2025 | $66.8M | -$87.7M | N/A | $5.2B | 35/100 |
Where enCore Energy Corp. Ranks
Frequently Asked Questions
What is enCore Energy Corp.'s annual revenue?
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.
How fast is enCore Energy Corp.'s revenue growing?
enCore Energy Corp. (EU) revenue declined by 26.0% year-over-year, from $58.3M to $43.2M in fiscal year 2025.
Is enCore Energy Corp. profitable?
No, enCore Energy Corp. (EU) reported a net income of -$56.9M in fiscal year 2025.
What is enCore Energy Corp.'s EBITDA?
enCore Energy Corp. (EU) had EBITDA of -$60.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does enCore Energy Corp. have?
As of fiscal year 2025, enCore Energy Corp. (EU) had $52.4M in cash and equivalents against $110.0M in long-term debt.
What is enCore Energy Corp.'s gross margin?
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.
What is enCore Energy Corp.'s return on equity (ROE)?
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.
What is enCore Energy Corp.'s free cash flow?
enCore Energy Corp. (EU) recorded an outflow of $45.0M in free cash flow during fiscal year 2025. This represents a 20.4% change compared to the previous fiscal year. 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.
What is enCore Energy Corp.'s operating cash flow?
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.
What are enCore Energy Corp.'s total assets?
enCore Energy Corp. (EU) had $430.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are enCore Energy Corp.'s capital expenditures?
enCore Energy Corp. (EU) invested $20.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is enCore Energy Corp.'s current ratio?
enCore Energy Corp. (EU) had a current ratio of 8.03 as of fiscal year 2025, which is generally considered healthy.
What is enCore Energy Corp.'s debt-to-equity ratio?
enCore Energy Corp. (EU) had a debt-to-equity ratio of 0.48 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is enCore Energy Corp.'s return on assets (ROA)?
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.
What is enCore Energy Corp.'s P/E ratio?
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 $179.9M as of Sep 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is enCore Energy Corp.'s price-to-sales ratio?
enCore Energy Corp. (EU) trades at 3.3x sales, its market capitalization divided by revenue of $55.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $179.9M as of Sep 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does enCore Energy Corp.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, enCore Energy Corp. (EU) held $52.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $25.0M over that year. Dividing the one by the other, the reported balance equals about 25 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is enCore Energy Corp.'s Altman Z-Score?
enCore Energy Corp. (EU) has an Altman Z-Score of -0.18, 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.
What is enCore Energy Corp.'s Piotroski F-Score?
enCore Energy Corp. (EU) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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.
Are enCore Energy Corp.'s earnings high quality?
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.
Can enCore Energy Corp. cover its interest payments?
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.
How financially healthy is enCore Energy Corp.?
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 a 0-100 composite 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.