NuScale Power (SMR) | Financial Analysis & Statements
NuScale Power Corporation Mid-cap Industrials
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
1.8M
Gross Profit
-61.0K
-3.37%
Operating Income
-72.7M
-4,022.23%
Net Income
-63.8M
-3,529.42%
Balance Sheet Metrics
Total Assets
1.4B
Total Liabilities
299.0M
Shareholders Equity
1.1B
Debt to Equity
0.27
Cash Flow Metrics
Operating Cash Flow
-199.7M
Free Cash Flow
-204.1M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
NuScale Power Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 31.5M | 37.0M | 22.8M | 11.8M | 2.9M |
| Cost of Goods Sold | 20.0M | 4.9M | 19.0M | 7.3M | 1.8M |
| Gross Profit | 11.4M | 32.1M | 3.8M | 4.5M | 1.1M |
| Gross Margin % | 36.3% | 86.7% | 16.9% | 38.0% | 38.2% |
| Operating Expenses | |||||
| Research & Development | 45.5M | 46.8M | 156.0M | 127.7M | 94.4M |
| Selling, General & Administrative | 609.8M | 75.9M | 65.4M | 55.3M | 38.7M |
| Other Operating Expenses | 45.6M | 48.1M | 58.0M | 51.5M | 42.3M |
| Total Operating Expenses | 701.0M | 170.8M | 279.4M | 234.5M | 175.4M |
| Operating Income | -689.6M | -138.7M | -275.6M | -230.0M | -174.3M |
| Operating Margin % | -2,190.6% | -374.5% | -1,208.1% | -1,948.4% | -6,090.1% |
| Non-Operating Items | |||||
| Interest Income | - | 8.4M | - | - | - |
| Interest Expense | - | - | - | - | - |
| Other Non-Operating Income | 25.5M | -216.1M | 84.7M | 84.7M | 73.5M |
| Pre-tax Income | -664.1M | -346.5M | -180.1M | -141.6M | -102.5M |
| Income Tax | 342.0K | 1.9M | 0 | 0 | 0 |
| Effective Tax Rate % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Income | -664.5M | -348.4M | -180.1M | -141.6M | -102.5M |
| Net Margin % | -2,110.8% | -940.4% | -789.6% | -1,199.4% | -3,581.2% |
| Key Metrics | |||||
| EBITDA | -713.7M | 86.1M | -296.6M | -239.4M | -172.1M |
| EPS (Basic) | - | $-1.47 | $-0.80 | $-0.51 | $-2.35 |
| EPS (Diluted) | - | $-1.47 | $-0.80 | $-0.51 | $-2.35 |
| Basic Shares Outstanding | - | 93249872 | 73386018 | 50763844 | 43615304 |
| Diluted Shares Outstanding | - | 93249872 | 73386018 | 50763844 | 43615304 |
Income Statement Trend
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NuScale Power Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 836.4M | 401.6M | 120.3M | 217.7M | 77.1M |
| Short-term Investments | 417.8M | 40.0M | 0 | 50.0M | 0 |
| Accounts Receivable | 8.4M | 21.1M | 10.1M | 11.2M | 4.8M |
| Inventory | - | - | - | - | - |
| Other Current Assets | 4.9M | 3.4M | - | - | - |
| Total Current Assets | 1.3B | 471.1M | 154.5M | 284.4M | 86.1M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 1.2M | 1.2M | 1.2M | 347.0K | 347.0K |
| Goodwill | 33.9M | 34.1M | 34.3M | 34.5M | 34.6M |
| Intangible Assets | 17.4M | 17.6M | 17.8M | 18.0M | 18.1M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 79.4M | 45.3M | 40.2M | 33.2M | 3.8M |
| Total Non-Current Assets | 139.9M | 73.5M | 70.3M | 64.2M | 35.1M |
| Total Assets | 1.4B | 544.7M | 224.9M | 348.6M | 121.2M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 286.5M | 47.9M | 44.9M | 28.0M | 22.4M |
| Short-term Debt | - | - | 1.5M | 1.6M | 15.5M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | 32.3M | 32.3M | - | - |
| Total Current Liabilities | 296.1M | 89.7M | 87.5M | 38.6M | 48.4M |
| Non-Current Liabilities | |||||
| Long-term Debt | - | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 2.6M | 1.6M | 1.4M | 2.8M | 3.0M |
| Total Non-Current Liabilities | 2.9M | 1.8M | 8.1M | 33.0M | 4.4M |
| Total Liabilities | 299.0M | 91.6M | 95.5M | 71.5M | 52.8M |
| Equity | |||||
| Common Stock | 34.0K | 27.0K | 23.0K | 23.0K | 0 |
| Retained Earnings | -732.9M | -377.1M | -240.5M | -182.1M | -781.6M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 1.1B | 453.1M | 129.3M | 277.1M | 68.4M |
| Key Metrics | |||||
| Total Debt | 0 | 0 | 1.5M | 1.6M | 15.5M |
| Working Capital | 976.5M | 381.4M | 67.1M | 245.9M | 37.7M |
Balance Sheet Composition
NuScale Power Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -664.5M | -348.4M | -180.1M | -141.6M | -102.5M |
| Depreciation & Amortization | 1.2M | 1.8M | 2.6M | 2.7M | 2.2M |
| Stock-Based Compensation | 19.2M | 13.6M | 16.2M | 9.3M | 6.4M |
| Working Capital Changes | 199.3M | -14.8M | 13.6M | -5.5M | -9.9M |
| Operating Cash Flow | -444.8M | -347.8M | -150.1M | -132.7M | -102.1M |
| Investing Activities | |||||
| Capital Expenditures | -508.0K | 151.0K | -1.7M | -2.3M | -2.0M |
| Acquisitions | - | - | - | - | - |
| Investment Purchases | -666.8M | -65.0M | - | -50.0M | 0 |
| Investment Sales | 256.1M | 25.0M | - | - | - |
| Investing Cash Flow | -411.3M | -39.8M | -1.7M | -52.3M | -2.0M |
| Financing Activities | |||||
| Share Repurchases | - | 0 | 0 | -566.0K | -17.0K |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | - | - | - | 0 | 0 |
| Debt Repayment | - | - | 0 | 0 | -47.2M |
| Financing Cash Flow | 1.3B | 202.0M | 9.8M | 338.5M | 145.4M |
| Free Cash Flow | -460.1M | -108.7M | -185.0M | -150.9M | -101.1M |
| Net Change in Cash | 443.2M | -185.6M | -141.9M | 153.5M | 41.3M |
Cash Flow Trend
NuScale Power Key Financial Ratios
Valuation Ratios
Forward P/E
-29.66
Price to Book
3.47
Price to Sales
130.92
PEG Ratio
-29.66
Profitability Ratios
Profit Margin
36.31%
Operating Margin
-3,337.78%
Return on Equity
-84.83%
Return on Assets
-11.64%
Financial Health
Current Ratio
4.30
Debt to Equity
0.00
Beta
2.28
Per Share Data
EPS (TTM)
$-2.17
Book Value per Share
$3.67
Revenue per Share
$0.19
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| SMR | 4.1B | - | 3.47 | -84.83% | 36.31% | 0.00 |
| GE Vernova | 308.9B | 33.64 | 27.72 | 75.71% | 23.81% | 18.63 |
| Eaton | 164.9B | 39.53 | 8.25 | 21.53% | 14.89% | 54.88 |
| Chart Industries | 10.0B | 630.09 | 3.08 | 1.22% | 0.96% | 109.01 |
| A.O. Smith | 8.9B | 16.72 | 4.80 | 29.20% | 14.26% | 10.97 |
| Donaldson Company | 8.1B | 23.58 | 5.56 | 24.58% | 9.94% | 49.34 |
Financial data is updated regularly. All figures are in the company's reporting currency.






