NuScale Power Corporation (SMR) 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 10, 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 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SMR SEC filings page.
NuScale Power Corporation (SMR) reported $10.7M in revenue over the twelve months to Jun 30, 2026, down 81.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
NuScale remains a development-stage business, with external financing supporting operations while customer revenue stays far below annual costs.
FY2025 operating cash outflow of$459.6M against revenue of$31.5M makes cash conversion the central issue: operations consumed many times the revenue they produced. From FY2023 to FY2025, debt-to-equity fell from 1.0x to 0.3x even as operating cash flow remained deeply negative, indicating that capitalization—not operating earnings—drove balance-sheet strengthening.
Gross margin recovered from
FY2025 financing cash inflow was
Financial Health Signals
Scored against emerging 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 NuScale Power Corporation'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.
NuScale Power Corporation held $1.3B in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $459.6M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and NuScale Power Corporation scores 58/100 among other emerging companies.
Not available for NuScale Power Corporation, and counted as zero in the overall score.
NuScale Power Corporation spent $45.5M on research and development in fiscal year 2025, which was 6.3% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and NuScale Power Corporation scores 27/100 among other emerging companies.
NuScale Power Corporation reported revenue of $31.5M in fiscal year 2025, against $37.0M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and NuScale Power Corporation scores 62/100 among other emerging companies.
NuScale Power Corporation's operations used $459.6M of cash in fiscal year 2025, against $108.7M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and NuScale Power Corporation scores 13/100 among other emerging companies.
NuScale Power Corporation's cash, cash equivalents and investments came to $1.3B at the end of fiscal year 2025, against $299.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and NuScale Power Corporation scores 87/100 among other emerging companies.
NuScale Power Corporation scores 4.44, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.0B) relative to total liabilities ($299.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
NuScale Power Corporation passes 0 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
NuScale Power Corporation reported a net loss of $355.8M while operations used $459.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
NuScale Power Corporation generated $75K in revenue in Q2 2026. This represents a decrease of 99.1% from the same quarter a year earlier. Against the prior quarter it is down 86.7%.
NuScale Power Corporation's EBITDA was -$63.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 48.9% from the same quarter a year earlier. Against the prior quarter it is down 11.4%.
NuScale Power Corporation reported -$47.5M in net income in Q2 2026. This represents a decrease of 169.5% from the same quarter a year earlier. Against the prior quarter it is down 8.0%.
NuScale Power Corporation earned -$0.13 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 7.1%.
Cash & Balance Sheet
NuScale Power Corporation recorded an outflow of $58.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 75.6% from the same quarter a year earlier. Against the prior quarter it is up 81.5%.
NuScale Power Corporation held $766.5M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
NuScale Power Corporation's ROE was -2.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.5 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.
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
NuScale Power Corporation invested $18.4M in research and development in Q2 2026. This represents an increase of 56.2% from the same quarter a year earlier. Against the prior quarter it is up 43.9%.
NuScale Power Corporation invested $431K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 543.3% from the same quarter a year earlier. Against the prior quarter it is down 71.7%.
Not reported for Q2 2026.
SMR 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 | $75K-99.1% | $565K-95.8% | $1.8M-94.7% | $8.2M+1635.2% | $8.1M+732.9% | $13.4M+869.9% | $34.2M+650.5% | $475K-93.2% |
| Cost of Revenue | $227K-96.4% | $544K-91.5% | $1.9M-38.9% | $5.5M+1775.6% | $6.3M+638.0% | $6.4M+767.1% | $3.1M-20.4% | $295K-95.0% |
| Gross Profit | -$152K-108.5% | $21K-99.7% | -$61K-100.2% | $2.7M+1405.0% | $1.8M+1422.2% | $7.0M+987.3% | $31.2M+4228.8% | $180K-82.2% |
| R&D Expenses | $18.4M+56.2% | $12.8M+40.2% | $13.5M+44.6% | $11.1M-9.1% | $11.8M-2.7% | $9.1M-30.6% | $9.4M-75.2% | $12.2M-80.9% |
| SG&A Expenses | $26.9M+19.3% | $24.8M+6.8% | $44.8M+97.5% | $519.2M+2950.5% | $22.5M+33.9% | $23.3M+20.2% | $22.7M+26.2% | $17.0M+3.8% |
| Operating Income | -$64.0M-48.6% | -$57.5M-62.8% | -$72.7M-513.4% | -$538.4M-1212.7% | -$43.1M-2.9% | -$35.3M+19.7% | -$11.9M+83.3% | -$41.0M+55.9% |
| EBITDA | -$63.7M-48.9% | -$57.2M-63.4% | -$72.4M-533.4% | -$538.2M-1226.2% | -$42.8M-3.2% | -$35.0M+19.4% | -$11.4M+83.8% | -$40.6M+56.0% |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | $1.9M | $12K |
| Net Income | -$47.5M-169.5% | -$44.0M-214.3% | -$50.8M+32.2% | -$273.3M-1465.5% | -$17.6M+36.1% | -$14.0M+15.5% | -$75.0M-299.8% | -$17.5M+8.7% |
| EPS (Basic) | -$0.130.0% | -$0.14-27.3% | -$0.80-3.9% | -$1.85-927.8% | -$0.13+58.1% | -$0.11+47.6% | -$0.77-208.0% | -$0.18+30.8% |
| EPS (Diluted) | -$0.13 | -$0.14 | -$0.80 | -$1.85 | -$0.13 | -$0.11 | -$0.77-208.0% | -$0.18+30.8% |
| Diluted Shares (Avg) | 365M | 320M | N/A | 148M | 133M | 128M | N/A | 95M+27.2% |
Not reported in any period shown, so not listed: Interest Expense.
SMR 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 | $2.0B+237.9% | $1.1B+85.8% | $1.4B+159.3% | $883.1M+248.7% | $606.5M+164.6% | $618.1M+169.0% | $544.7M+142.2% | $253.3M-17.9% |
| Current Assets | $1.1B+148.8% | $908.5M+67.2% | $1.3B+170.1% | $719.8M+298.7% | $442.6M+183.2% | $543.4M+246.6% | $471.1M+204.9% | $180.6M+13.4% |
| Cash & Equivalents | $766.5M+157.5% | $341.1M-30.6% | $836.4M+108.3% | $407.6M+265.1% | $297.7M+127.4% | $491.4M+272.3% | $401.6M+233.9% | $111.6M-5.0% |
| Short-Term Investments | $305.7M+148.4% | $549.0M+1730.0% | $417.8M+944.5% | $284.2M+531.6% | $123.1M | $30.0M | $40.0M | $45.0M |
| Long-Term Investments | $820.8M+1086.7% | $118.6M | $33.0M | $62.0M | $69.2M | $0 | $0 | $0 |
| Goodwill | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% |
| Total Liabilities | $35.5M+141.1% | $38.4M+144.7% | $299.0M+503.9% | $54.4M-41.6% | -$86.4M-163.6% | -$85.9M-185.0% | -$74.0M-177.5% | $93.2M-54.0% |
| Current Liabilities | $29.1M-72.3% | $30.9M-64.5% | $296.1M+230.0% | N/A | $104.9M+78.4% | $87.3M+2.5% | $89.7M+2.6% | $80.6M-1.1% |
| Non-Current Liabilities | $6.5M+103.4% | $7.5M+104.3% | $2.9M+101.8% | N/A | -$191.3M-348.2% | -$173.2M-1180.9% | -$163.7M-2131.1% | $12.7M-89.6% |
| Total Equity | $2.1B+197.5% | $1.2B+65.7% | $1.2B+88.9% | $828.7M+417.7% | $692.9M+408.2% | $704.0M+462.9% | $618.7M+562.0% | $160.1M+51.1% |
| Retained Earnings | -$824.4M-101.7% | -$776.9M-98.7% | -$732.9M-94.4% | -$682.0M-125.8% | -$408.7M-43.6% | -$391.1M-52.2% | -$377.1M-56.8% | -$302.1M-36.3% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.
SMR 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 | -$58.2M-74.6% | -$314.7M-1281.0% | -$203.7M-671.1% | -$199.8M-1469.8% | -$33.3M+7.5% | -$22.8M+32.0% | -$26.4M+63.9% | -$12.7M+54.0% |
| Depreciation & Amortization | $289K-5.2% | $309K-1.3% | $314K-25.8% | $249K-43.2% | $305K-31.8% | $313K-41.4% | $423K-30.8% | $438K-36.1% |
| Stock-Based Compensation | N/A | $5.2M+17.5% | N/A | N/A | N/A | $4.5M+101.0% | N/A | N/A |
| Capital Expenditures | $431K+543.3% | $1.5M+2171.6% | $367K+734.1% | $141K | -$67K | $67K | $44K-13.7% | $0-100.0% |
| Free Cash Flow | -$58.6M-75.6% | -$316.2M-1283.6% | -$204.1M-671.2% | -$199.9M-1470.9% | -$33.4M+7.3% | -$22.9M+31.8% | -$26.5M+63.9% | -$12.7M+54.1% |
| Investing Cash Flow | -$459.3M-183.3% | -$218.4M-2298.8% | -$104.9M-2217.2% | -$154.1M-242.5% | -$162.2M-83254.9% | $9.9M | $5.0M+9817.6% | -$45.0M-83233.3% |
| Financing Cash Flow | $947.3M+54156.0% | $37.8M-63.2% | $737.5M+136.8% | $463.8M+1107.1% | $1.7M-95.0% | $102.7M+127.2% | $311.4M+15516.3% | $38.4M+293.6% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SMR 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 | -202.7% | 3.7%-48.6pp | -3.4%-94.4pp | 32.9%-5.0pp | 22.1%+10.0pp | 52.3%+5.6pp | 91.1%+75.3pp | 37.9%+23.4pp |
| Operating Margin | -85337.3% | -10181.2% | -4022.2% | -6532.9% | -534.9% | -264.1% | -34.6% | -8635.6% |
| Net Margin | -63385.3% | -7790.3% | -2811.3% | -3316.2% | -219.0% | -104.7% | -219.1% | -3675.6% |
| Return on Equity | -2.3%+0.2pp | -3.8%-1.8pp | -4.3%+7.8pp | -33.0%-22.1pp | -2.5%+17.7pp | -2.0%+11.3pp | -12.1%+7.9pp | -10.9%+7.1pp |
| Return on Assets | -2.3%+0.6pp | -3.8%-1.6pp | -3.6%+10.2pp | -30.9%-24.1pp | -2.9%+9.1pp | -2.3%+4.9pp | -13.8%-5.4pp | -6.9%-0.7pp |
| Current Ratio | 37.88+33.7x | 29.36+23.1x | 4.30-1.0x | N/A | 4.22+1.6x | 6.23+4.4x | 5.25+3.5x | 2.24+0.3x |
| Debt-to-Equity | 0.02 | 0.03 | 0.26 | 0.07-0.5x | N/A | N/A | N/A | 0.58-1.3x |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.00-0.1x | 0.010.0x | 0.010.0x | 0.020.0x | 0.060.0x | 0.000.0x |
| FCF Margin | -78150.7% | -55964.6% | -11287.1% | -2425.9% | -414.6% | -170.9% | -77.3% | -2679.6% |
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: Gross Margin, 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 |
|---|---|---|---|---|---|---|
| NuScale Power Corporation SMR | FY2025 | $31.5M | -$355.8M | N/A | $3.0B | 41/100 |
| Enpro Inc. NPO | FY2025 | $1.1B | $40.5M | 3.5% | $6.6B | 57/100 |
| Franklin Electric Co Inc FELE | FY2025 | $2.1B | $147.1M | 6.9% | $4.3B | 71/100 |
| Mirion Technologies, Inc. MIR | FY2025 | $925.4M | $28.8M | 3.1% | $4.1B | 57/100 |
| Mueller Water Products, Inc. MWA | FY2025 | $1.4B | $191.7M | 13.4% | $3.4B | 74/100 |
| Kadant Inc. KAI | FY2025 | $1.1B | $102.0M | 9.7% | $3.1B | 66/100 |
Where NuScale Power Corporation Ranks
Frequently Asked Questions
What is NuScale Power Corporation's annual revenue?
NuScale Power Corporation (SMR) reported $31.5M in total revenue for fiscal year 2025. This represents a -15.0% 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 NuScale Power Corporation's revenue growing?
NuScale Power Corporation (SMR) revenue declined by 15.0% year-over-year, from $37.0M to $31.5M in fiscal year 2025.
Is NuScale Power Corporation profitable?
No, NuScale Power Corporation (SMR) reported a net income of -$355.8M in fiscal year 2025.
What is NuScale Power Corporation's EBITDA?
NuScale Power Corporation (SMR) had EBITDA of -$688.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is NuScale Power Corporation's gross margin?
NuScale Power Corporation (SMR) had a gross margin of 36.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is NuScale Power Corporation's return on equity (ROE)?
NuScale Power Corporation (SMR) has a return on equity of -30.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is NuScale Power Corporation's free cash flow?
NuScale Power Corporation (SMR) recorded an outflow of $460.1M in free cash flow during fiscal year 2025. This represents a -323.3% 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 NuScale Power Corporation's operating cash flow?
NuScale Power Corporation (SMR) recorded an outflow of $459.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are NuScale Power Corporation's total assets?
NuScale Power Corporation (SMR) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are NuScale Power Corporation's capital expenditures?
NuScale Power Corporation (SMR) invested $508K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does NuScale Power Corporation spend on research and development?
NuScale Power Corporation (SMR) invested $45.5M in research and development during fiscal year 2025.
What is NuScale Power Corporation's current ratio?
NuScale Power Corporation (SMR) had a current ratio of 4.30 as of fiscal year 2025, which is generally considered healthy.
What is NuScale Power Corporation's debt-to-equity ratio?
NuScale Power Corporation (SMR) had a debt-to-equity ratio of 0.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is NuScale Power Corporation's return on assets (ROA)?
NuScale Power Corporation (SMR) had a return on assets of -25.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is NuScale Power Corporation's P/E ratio?
NuScale Power Corporation (SMR) 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 $3.0B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is NuScale Power Corporation's price-to-sales ratio?
NuScale Power Corporation (SMR) trades at 276x sales, its market capitalization divided by revenue of $10.7M revenue, trailing 12 months to June 30, 2026. The market capitalization is $3.0B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does NuScale Power Corporation's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, NuScale Power Corporation (SMR) held $1.3B in cash, cash equivalents and investments, and reported an operating cash outflow of $459.6M over that year. Dividing the one by the other, the reported balance equals about 34 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 NuScale Power Corporation's Altman Z-Score?
NuScale Power Corporation (SMR) has an Altman Z-Score of 4.44, placing it in the Safe Zone (low 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 NuScale Power Corporation's Piotroski F-Score?
NuScale Power Corporation (SMR) has a Piotroski F-Score of 0 out of 7 computable signals; 2 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.
Are NuScale Power Corporation's earnings high quality?
NuScale Power Corporation (SMR) reported a net loss of $355.8M while operations used $459.6M 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.
How financially healthy is NuScale Power Corporation?
NuScale Power Corporation (SMR) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.