Tearsheet

Centrus Energy (LEU)

Market Price (12/4/2025): $268.0 | Market Cap: $4.9 Bil
Sector: Energy | Industry: Coal & Consumable Fuels

Centrus Energy (LEU)

Market Price (12/4/2025): $268.0
Market Cap: $4.9 Bil
Sector: Energy
Industry: Coal & Consumable Fuels

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 32%	Expensive valuation multiples P/SPrice/Sales ratio is 13x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 46x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 36x, P/EPrice/Earnings or Price/(Net Income) is 50x
1	Megatrend and thematic drivers Megatrends include Energy Transition & Decarbonization, Datacenter Power, and US Energy Independence. Themes include Advanced Nuclear Energy & Fuel, Show more.	Stock price has recently run up significantly 12M Rtn12 month market price return is 249%
2		Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 458%
3		Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2%
4		Significant short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 25%

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 32%
1	Megatrend and thematic drivers Megatrends include Energy Transition & Decarbonization, Datacenter Power, and US Energy Independence. Themes include Advanced Nuclear Energy & Fuel, Show more.
2	Expensive valuation multiples P/SPrice/Sales ratio is 13x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 46x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 36x, P/EPrice/Earnings or Price/(Net Income) is 50x
3	Stock price has recently run up significantly 12M Rtn12 month market price return is 249%
4	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 458%
5	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2%
6	Significant short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 25%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$268.00	$66.61	$54.41	$32.48	$49.91
Market Cap CYE ($ Bil)	4.9	1.1	0.8	0.5	0.7
Total Debt ($ Bil)	1.2	0.2	0.2	0.2	0.1
Total Cash ($ Bil)	1.6	0.7	0.2	0.2	0.2
Enterprise Value ($ Bil)	4.5	1.3	1.0	0.7	0.8
Valuation Ratios
P/S TTM	12.5	2.5	2.6	1.6	2.3
P/EBIT TTM	45.7	14.3	9.7	6.9	5.0
P/E TTM	49.9	14.8	9.8	9.1	3.9
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0	0.0	0.0

	12/4/25	2024	2023
Share Price CYE	$268.00	$66.61	$54.41
Market Cap CYE ($ Bil)	4.9	1.1	0.8
Total Debt ($ Bil)	1.2	0.2	0.2
Total Cash ($ Bil)	1.6	0.7	0.2
Enterprise Value ($ Bil)	4.5	1.3	1.0
Valuation Ratios
P/S TTM	12.5	2.5	2.6
P/EBIT TTM	45.7	14.3	9.7
P/E TTM	49.9	14.8	9.8
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0

	LEU	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.5
Rev Chg Q	29.8%	7.1%
Rev Chg LTM	15.3%	6.1%
Rev Chg 3Y Avg	21.3%	5.5%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	18.2%	18.8%
CFO/Rev LTM	34.6%	20.5%
Net Inc Mgn	25.0%	13.1%
VALUATION	VERY HIGH
P/S	12.5	3.2
P/CFO	36.1	15.8
P/FCF	38.8	20.5
P/E	49.9	23.5
STABILITY	VERY GOOD
Debt/Equity	0.22	0.20
Cash/Assets	0.73	0.07

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Metric	Value	Date	Source
High-Assay Low-Enriched Uranium (HALEU) Production	over 920 kg	6272025	Link
Total Order Backlog	$3.9 billion	9302025	Link
LEU Segment Backlog	$3.0 billion	9302025	Link
Technical Solutions Segment Backlog	$0.9 billion	9302025	Link
Reactor Years of Fuel Supplied Since 1998	more than 1,850	1152025	Link

Recent
11/05/2025	Earnings Release	Rev: $74 Mil (A) vs. $151 Mil (E) EPS: 0.19 (A) vs. $0.20 (E)
Upcoming
2/05/2026	Earnings Release	Rev: $146 Mil (E) EPS: $1.39 (E)

LEU Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

The approximate time period provided (8/31/2025 to 12/4/2025) falls in the future relative to my current knowledge cut-off. However, based on the search results, several significant events occurred for Centrus Energy (LEU) around this general timeframe that could influence its stock performance. The search results show some articles published in late 2024 and through 2025, which discuss events up to "today" (December 4, 2025). Therefore, I will extract key points from these results as the basis for the stock movement. Here are the key points for Centrus Energy (LEU)'s stock movement:

1. Major Government Contracts and Funding for HALEU and LEU Production.
Centrus Energy secured multiple significant awards from the U.S. Department of Energy (DOE) for expanding domestic commercial production of High-Assay, Low-Enriched Uranium (HALEU) and Low-Enriched Uranium (LEU). In October 2024, the company was awarded contracts, alongside others, involving up to $2.7 billion in government funding for HALEU development, crucial for advanced nuclear reactors. Additionally, in December 2024, Centrus secured its third DOE award for LEU enrichment, with potential contracts up to $3.4 billion over ten years. These contracts aim to reduce U.S. reliance on foreign nuclear fuel suppliers, particularly Russia, and revive the domestic uranium enrichment sector.

2. HALEU Production Milestones and Contract Extensions.
Centrus Energy has achieved critical milestones in its HALEU production. In June 2025, the company announced that the U.S. Department of Energy exercised an option to extend Centrus' contract to produce HALEU through June 30, 2026, with additional options for up to eight more years. Later in June 2025, Centrus announced the successful production and delivery of 900 kilograms of HALEU to the DOE, meeting its Phase II production target and continuing into Phase III. This positions Centrus as a key pioneer and the only source of HALEU enrichment in the Western world, crucial for next-generation reactors.

3. Strong Financial Performance and Revenue Growth.
The company reported significant financial improvements. In Q1 2025, Centrus delivered net income of $27.2 million, a dramatic turnaround from a net loss in the prior year, driven by a 67% year-over-year revenue increase to $73.1 million. The Low-Enriched Uranium (LEU) segment experienced explosive 117% growth in Q1 2025. Furthermore, in Q3 2025, total revenues increased 30% year-over-year to $75 million, primarily due to improved uranium sales, with the LEU segment's revenues rising 29%.

4. Uplisting to the New York Stock Exchange (NYSE).
On December 1, 2025, Centrus Energy announced its approval for uplisting from the NYSE American to the New York Stock Exchange (NYSE), with trading commencing on December 4, 2025. This strategic move is expected to enhance liquidity and visibility for Centrus, supporting its mission to re-establish large-scale U.S.-owned uranium enrichment capacity.

5. Strategic Market Positioning Amidst Uranium Market Revival.
Centrus Energy is strategically positioned as a key player in the uranium enrichment market, benefiting from a resurgence in the uranium market. Factors such as rising uranium prices, increased demand for nuclear fuel driven by global energy security concerns, and a focus on clean energy solutions contribute to a favorable market backdrop. The company's unique competitive position as the only U.S.-owned company utilizing domestic technology for uranium enrichment is increasingly valuable amidst geopolitical tensions and supply chain security concerns.

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Stock Movement Drivers

Fundamental Drivers

The 33.0% change in LEU stock from 9/3/2025 to 12/3/2025 was primarily driven by a 26.9% change in the company's P/E Multiple.

	9032025	12032025	Change
Stock Price ($)	201.54	268.10	33.03%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	436.90	454.10	3.94%
Net Income Margin (%)	23.99%	25.04%	4.38%
P/E Multiple	34.04	43.19	26.87%
Shares Outstanding (Mil)	17.70	18.32	-3.47%
Cumulative Contribution			32.87%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
LEU	33.0%
Market (SPY)	6.2%	38.9%
Sector (XLE)	3.8%	-14.3%

Fundamental Drivers

The 90.1% change in LEU stock from 6/4/2025 to 12/3/2025 was primarily driven by a 92.1% change in the company's P/E Multiple.

	6042025	12032025	Change
Stock Price ($)	141.00	268.10	90.14%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	471.40	454.10	-3.67%
Net Income Margin (%)	22.59%	25.04%	10.83%
P/E Multiple	22.48	43.19	92.10%
Shares Outstanding (Mil)	16.98	18.32	-7.86%
Cumulative Contribution			88.97%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
LEU	90.1%
Market (SPY)	15.1%	30.7%
Sector (XLE)	13.0%	-7.5%

Fundamental Drivers

The 248.5% change in LEU stock from 12/3/2024 to 12/3/2025 was primarily driven by a 159.2% change in the company's P/E Multiple.

	12032024	12032025	Change
Stock Price ($)	76.92	268.10	248.54%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	394.00	454.10	15.25%
Net Income Margin (%)	19.24%	25.04%	30.15%
P/E Multiple	16.66	43.19	159.18%
Shares Outstanding (Mil)	16.42	18.32	-11.54%
Cumulative Contribution			243.90%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
LEU	248.5%
Market (SPY)	14.3%	37.2%
Sector (XLE)	-0.5%	19.5%

Fundamental Drivers

The 600.9% change in LEU stock from 12/4/2022 to 12/3/2025 was primarily driven by a 1035.9% change in the company's P/E Multiple.

	12042022	12032025	Change
Stock Price ($)	38.25	268.10	600.92%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	256.60	454.10	76.97%
Net Income Margin (%)	57.33%	25.04%	-56.32%
P/E Multiple	3.80	43.19	1035.89%
Shares Outstanding (Mil)	14.62	18.32	-25.26%
Cumulative Contribution			556.19%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
LEU	419.0%
Market (SPY)	53.2%	32.4%
Sector (XLE)	15.0%	19.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
LEU Return	236%	116%	-35%	68%	22%	299%	3760%
Peers Return	63%	62%	-2%	813%	3%	96%	4711%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
LEU Win Rate	67%	50%	33%	67%	50%	80%
Peers Win Rate	42%	48%	37%	65%	48%	72%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
LEU Max Drawdown	-38%	-15%	-63%	-16%	-35%	-18%
Peers Max Drawdown	-51%	-11%	-25%	-15%	-27%	-31%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: EU, NC, CCJ, UEC, LEU.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	LEU	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-78.2%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	359.4%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	890 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-55.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	125.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	75 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-83.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	518.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	525 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-88.2%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	747.4%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	Not Fully Recovered days	1480 days

Compare to EU, NC, CCJ, UEC, LEU

In The Past

Centrus Energy's stock fell -78.2% during the 2022 Inflation Shock from a high on 11/12/2021. A -78.2% loss requires a 359.4% gain to breakeven.

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About Centrus Energy (LEU)

Centrus Energy Corp. supplies nuclear fuel and services for the nuclear power industry in the United States, Japan, Belgium, and internationally. The company operates through two segments, Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment sells separative work units (SWU) component of LEU; SWU and natural uranium components of LEU; and natural uranium for utilities that operate nuclear power plants. The Technical Solutions segment offers technical, manufacturing, engineering, procurement, construction, and operations services to public and private sector customers, including the American Centrifuge engineering and testing activities. The company was formerly known as USEC Inc. and changed its name to Centrus Energy Corp. in September 2014. Centrus Energy Corp. was incorporated in 1998 and is headquartered in Bethesda, Maryland.

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Qualcomm for nuclear fuel
TSMC for nuclear fuel
Valero for nuclear fuel

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Low-Enriched Uranium (LEU): This is the standard nuclear fuel product used to power commercial nuclear reactors worldwide.
High-Assay Low-Enriched Uranium (HALEU): An advanced nuclear fuel with a higher concentration of uranium-235, essential for fueling next-generation advanced nuclear reactors.
Uranium Enrichment Services: Centrus provides the specialized process of enriching natural uranium to produce fuel for nuclear power generation.

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Centrus Energy (LEU) - Major Customers

Centrus Energy (LEU) primarily sells to other companies, making its business model Business-to-Business (B2B).

According to Centrus Energy's public filings, its major customers fall into the following categories:

Nuclear Utilities: Centrus Energy's primary customers are nuclear utilities located in the United States and abroad. These companies operate nuclear power plants and require nuclear fuel products and services, including uranium, enrichment services, and fabrication services. While the company's 2023 annual report (10-K) indicates that its top four customers accounted for approximately 50% of its total revenue, Centrus Energy does not disclose the specific names of these private utility customers in its public filings. Therefore, their specific names and corresponding public symbols cannot be provided.
U.S. Government: The U.S. government, specifically the Department of Energy (DOE), is a key customer for Centrus, particularly for its High-Assay Low-Enriched Uranium (HALEU) program. Centrus has a contract with the DOE for a demonstration project to produce HALEU.

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Amir Vexler President and Chief Executive Officer
Amir Vexler was appointed President and Chief Executive Officer of Centrus Energy in January 2024. Prior to joining Centrus, he served as President and Chief Executive Officer of Orano USA starting in 2021, where he oversaw the company's U.S. operations for nuclear fuel, decommissioning services, used nuclear fuel management, medical isotopes, and engineering and technology services for the federal government. Earlier in his career, Mr. Vexler spent two decades at General Electric Company, holding various leadership positions including Chief Executive Officer, Chairman of the Board, and Chief Operating Officer of Global Nuclear Fuels, a joint venture between GE and Hitachi.

Todd Tinelli Senior Vice President, Chief Financial Officer and Treasurer
Todd Tinelli joined Centrus Energy as Senior Vice President, Chief Financial Officer, and Treasurer on August 11, 2025. Before his tenure at Centrus, Mr. Tinelli served as Chief Financial Officer of Sprague Resources LP, a multinational subsidiary of Hartree Partners LP. In this role at Sprague, a $4 billion trading and marketing company, he was responsible for the strategic development and execution of capital structures to provide liquidity for the growing and acquisitive firm, in addition to overseeing all accounting and back-office support functions. During his 18 years at Sprague, he advanced through senior positions, including Treasurer and Managing Director of Finance, and Director of FP&A and Business Development. His previous experience also includes Senior Operations positions at Sempra Energy Trading, a subsidiary of publicly-traded Sempra Energy Corporation, and various credit roles at Premcor Refining, also a publicly traded entity.

Patrick Brown Senior Vice President, Field Operations, and President, American Centrifuge Operating, LLC
Patrick Brown serves as Senior Vice President, Field Operations, and President, American Centrifuge Operating, LLC.

John M.A. Donelson Senior Vice President & Chief Marketing Officer
John M.A. Donelson is the Senior Vice President & Chief Marketing Officer at Centrus Energy.

Neal Nagarajan Senior Vice President, Head of Investor Relations
Neal Nagarajan holds the position of Senior Vice President, Head of Investor Relations. He participates in Centrus Energy's earnings calls, providing introductions and discussing financial results.

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The clear emerging threat for Centrus Energy is the intensifying competition in the nascent but crucial High-Assay, Low-Enriched Uranium (HALEU) market from larger, established global uranium enrichment players. Specifically, companies such as Urenco are actively developing their own HALEU production capabilities, directly competing with Centrus's strategic investments and first-mover advantage in this segment. Should these major players rapidly scale their HALEU production and secure supply contracts with advanced reactor developers, they could significantly impact Centrus's projected growth, market share, and profitability in the advanced nuclear fuel supply chain.

AI Generated Analysis | Feedback

Centrus Energy (LEU) operates primarily in the nuclear fuel industry, focusing on the supply of enriched uranium and advanced nuclear fuel technologies. The company's main products and services include Low-Enriched Uranium (LEU) and High-Assay Low-Enriched Uranium (HALEU), as well as related enrichment services and advanced fuel forms such as TRISO fuel.

The addressable markets for Centrus Energy's main products and services are as follows:

Uranium Enrichment (including LEU): The global uranium enrichment market is estimated at USD 14.24 billion in 2025 and is projected to reach USD 22.16 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 9.25% during this period. Another estimate places the global market at USD 14.52 billion in 2025, expected to reach USD 25.90 billion by 2032 with a CAGR of 7.61% from 2026-2033. North America is the largest market for uranium enrichment, holding approximately 40% of the global share, and is expected to grow at a CAGR of about 9.34% from 2026-2033. Asia-Pacific also represents a significant portion, with a 38% share in 2025.
High-Assay Low-Enriched Uranium (HALEU): The global market for HALEU is projected to grow substantially from an estimated $260 million in 2025 to $6.2 billion by 2035. This growth is driven by the deployment of advanced nuclear reactors and initiatives by the U.S. Department of Energy. Within the broader uranium enrichment market, HALEU is anticipated to record a 12.3% CAGR during 2025-2030.
TRISO Fuel: The global Tri-structural Isotropic (TRISO) fuel market was valued at approximately USD 382.49 million in 2024 and is projected to reach USD 554.28 million by 2033, demonstrating a CAGR of 4.28% during the forecast period of 2025-2033. North America is expected to hold the highest market share in this sector. Uranium-based TRISO fuel accounts for a significant portion, holding an 85.56% share of the TRISO fuel market.

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Centrus Energy (LEU) is poised for future revenue growth over the next two to three years, driven by several key factors in the evolving nuclear fuel market:

Expansion of High-Assay, Low-Enriched Uranium (HALEU) Production: Centrus is the only U.S. company licensed to produce HALEU, a critical fuel for next-generation advanced nuclear reactors. The company has secured contract extensions from the U.S. Department of Energy (DOE) for HALEU production through June 30, 2026, with options for an additional eight years. Centrus also received awards for expanded HALEU production and deconversion, with a total contract ceiling of $2.7 billion for production (cumulative for four awardees) and $800 million for deconversion (cumulative for six awardees) over a 10-year period. The successful achievement of a 900-kilogram HALEU production target by June 2025, and plans to bring a full-scale HALEU cascade online within approximately 42 months, contingent on funding, signal a significant ramp-up in this specialized and high-demand product.
Increased Demand and Favorable Pricing for Low-Enriched Uranium (LEU) and Separative Work Units (SWU): The broader nuclear energy market is experiencing renewed interest, with major technology companies signaling plans to use nuclear power for data centers. This is driving strong demand for U.S.-owned uranium enrichment capacity, evidenced by LEU SWU spot prices nearing historic levels. The anticipated cessation of Russian LEU and SWU imports by the end of 2028 is expected to create a supply gap, further bolstering prices and demand for Centrus' offerings. Centrus' LEU segment has already demonstrated revenue growth driven by higher average prices and increased volumes sold.
Expansion of Domestic LEU Production Capacity: Centrus is actively pursuing a public-private partnership to establish large-scale LEU production at its Piketon, Ohio facility. This initiative is backed by significant contingent LEU sales commitments, totaling approximately $2.3 billion as of September 30, 2025, which are subject to securing substantial public and private investment and finalizing definitive agreements. Strategic agreements, such as the one signed with KHNP and POSCO International, explore potential investments to support this expansion, positioning Centrus to meet growing market needs.
New Government Contracts and Funding Opportunities: Centrus is strategically positioned to secure additional government funding and contracts for both HALEU and LEU production, capitalizing on its unique American-owned technology and NRC license. Congress has appropriated over $3.4 billion for domestic nuclear fuel production, and Centrus is actively competing for task order awards under various DOE contracts, which represent significant opportunities for future revenue.
Robust Contract Backlog: The company benefits from a substantial existing backlog of contracts, extending to 2040, which provides a solid foundation for future revenue. As of September 30, 2025, Centrus reported a total backlog of $3.9 billion. This includes approximately $3.0 billion in its LEU segment backlog, covering future SWU and uranium deliveries under medium and long-term fixed-commitment contracts, and an approximately $0.9 billion backlog in its Technical Solutions segment.

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Share Issuance

Centrus Energy announced an "at-the-market" (ATM) equity offering program on November 6, 2025, to sell up to $1,000,000,000 of its Class A common stock.
The company's issuance of common stock averaged $29.74 million from fiscal years ending December 2020 to 2024, with a peak of $175.6 million in June 2025.
Centrus successfully priced an oversubscribed and upsized private offering of $700 million in Zero-Coupon Convertible Senior Notes due 2032, and closed an $805 million 0% convertible notes offering in Q3 2025, yielding approximately $782.4 million in net proceeds.

Inbound Investments

Centrus received a $62.4 million credit allocation from the IRS on January 10, 2025, stemming from a qualified investment of $208.0 million in eligible property.
The company was selected as a U.S. Department of Energy (DOE) contract awardee for low-enriched uranium (LEU) and high-assay low-enriched uranium (HALEU) production and HALEU Deconversion.
A nonbinding Memorandum of Understanding (MOU) was signed with Korea Hydro and Nuclear Power and POSCO International, indicating a focus on potential investment to expand Centrus's uranium enrichment plant in Ohio.

Capital Expenditures

Centrus announced an approximate $60.0 million investment in 2024 for centrifuge manufacturing activities and capacity at Oak Ridge, Tennessee, aimed at de-risking the supply chain and accelerating deployment.
The company is undertaking a multibillion-dollar expansion of its Piketon facility to strengthen its strategic importance.
Proceeds from the $1 billion ATM equity offering are expected to be used for general working capital and corporate purposes, which may include capital expenditures.

Better Bets than Centrus Energy (LEU)

	LEU	Better Performance than LEU
Metric	Value	INDUSTRY: Coal & Consumable Fuels
Rev Chg LTM	15.3%	UEC (29737.9%), UUUU (103.7%), CNR (65.4%), CCJ (23.9%), DNN (23.3%)
Rev Chg 3Y Avg	21.3%	UEC (10082.6%), UUUU (91.8%), DNN (30.7%), CNR (26.2%), CCJ (24.2%)
Op Mgn LTM	18.2%	CCJ (18.6%)
CFO/Rev LTM	34.6%	UROY (44.6%), CCJ (36.4%)
FCF/Rev LTM	32.3%
Total Yield	2.0%	NC (11.5%)
P/S	12.5	BTU (0.8), CNR (1.2), HNRG (1.6), CCJ (10.5), EU (12.0)
P/Op Inc	68.6	HNRG (22.5), CCJ (56.5)

	LEU	Better Performance than LEU
Metric	Value	SECTOR: Energy
Rev Chg LTM	15.3%	FANG (60.1%), OKE (58.4%), ENB (32.3%), TRP (24.5%), LNG (17.8%)
Rev Chg 3Y Avg	21.3%	UEC (10082.6%), NE (59.6%), PR (48.7%), CNR (26.2%), CCJ (24.2%)
Op Mgn LTM	18.2%	WMB (34.3%), EOG (33.4%), KMI (27.2%), COP (21.0%), CNQ (20.3%)
CFO/Rev LTM	34.6%	FANG (57.3%), TRP (51.4%), WMB (48.2%), EOG (45.2%), KMI (34.9%)
FCF/Rev LTM	32.3%	AM (60.7%), HESM (44.3%), DTM (40.3%), WES (38.7%), STNG (37.7%)
Total Yield	2.0%	ENB (12.9%), COP (10.8%), XOM (10.3%), CVX (8.3%), WMB (6.2%)
P/S	12.5	XOM (1.4), CVX (1.6), ENB (1.7), COP (2.0), WMB (6.7)
P/Op Inc	68.6	COP (9.4), ENB (9.8), XOM (12.4), WMB (19.6), CVX (20.0)

	LEU	Better Performance than LEU
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	15.3%	NVDA (71.6%), LLY (36.8%), AVGO (28.0%), META (21.3%), MSFT (15.6%)
Rev Chg 3Y Avg	21.3%	NVDA (92.0%), APP (36.0%), PLTR (29.3%), AVGO (24.0%), LLY (23.4%)
Op Mgn LTM	18.2%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	34.6%	META (56.8%), MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), GOOGL (39.3%)
FCF/Rev LTM	32.3%	V (53.9%), MA (52.5%), PLTR (46.0%), NVDA (43.6%), AVGO (41.6%)
Total Yield	2.0%	GOOGL (4.6%), MSFT (3.4%), AMZN (3.0%), AAPL (3.0%), NVDA (2.3%)
P/S	12.5	BRK-B (2.7), AMZN (3.5), GOOGL (7.6), AAPL (9.3), META (9.8)
P/Op Inc	68.6	GOOGL (23.7), MSFT (28.3), AAPL (29.1), AMZN (30.7), NVDA (40.1)

		Best Bets In Energy Sector
	LEU
What You Pay
P/E	50.0
P/EBIT	45.7
What You Get
Rev Chg Q	29.8%
Rev Chg LTM	15.3%
Rev Chg 3Y Avg	21.3%
FCF/Rev 3Y Avg	14.6%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 5.4%, alpha of -0.1%, and sharpe of 0.25

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Centrus Energy Earnings Notes
2	Is 27.8% Fall In Centrus Energy (LEU) Stock A Buying Opportunity?	Actionable
3	Would You Still Hold Centrus Energy Stock If It Fell Another 30%?	Return
4	Is The 27.4% Decline In Centrus Energy (LEU) Stock A Dip Buying Opportunity?	Actionable
5	Big Decline for LEU, but Do OKE's Margins and Growth Give It the Edge?	Counter-Intuitive Comparisons
6	LEU Drops 18% in a Week, But Does CNR Offer Better Fundamentals?	Counter-Intuitive Comparisons
7	Is The 24.8% Decline In Centrus Energy (LEU) Stock A Dip Buying Opportunity?	Actionable
8	Better Bet Than LEU Stock: Pay Less Than Centrus Energy To Get More From CALM, ADMA
9	Why Centrus Energy Stock Moved: LEU Stock Has Gained 725% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
10	LEU Dip Buy Analysis
11	ARTICLES
12	Centrus Energy Stock To $218?		October 23rd, 2025
13	LEU Stock Has Fallen 27%, Is It Time To Get In?		August 21st, 2025
14	LEU Plunges 25%, Should You Consider Buying The Dip?		August 14th, 2025
15	LEU Stock Up 32% after 8-Day Win Streak		June 24th, 2025

	Title
0	DASHBOARDS
1	Centrus Energy Earnings Notes
2	Is 27.8% Fall In Centrus Energy (LEU) Stock A Buying Opportunity?
3	Would You Still Hold Centrus Energy Stock If It Fell Another 30%?
4	Is The 27.4% Decline In Centrus Energy (LEU) Stock A Dip Buying Opportunity?
5	Big Decline for LEU, but Do OKE's Margins and Growth Give It the Edge?
6	LEU Drops 18% in a Week, But Does CNR Offer Better Fundamentals?
7	Is The 24.8% Decline In Centrus Energy (LEU) Stock A Dip Buying Opportunity?
8	Better Bet Than LEU Stock: Pay Less Than Centrus Energy To Get More From CALM, ADMA
9	Why Centrus Energy Stock Moved: LEU Stock Has Gained 725% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
10	LEU Dip Buy Analysis
11	ARTICLES
12	Centrus Energy Stock To $218?
13	LEU Stock Has Fallen 27%, Is It Time To Get In?
14	LEU Plunges 25%, Should You Consider Buying The Dip?
15	LEU Stock Up 32% after 8-Day Win Streak

Trade Ideas

Select past ideas related to LEU. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	8.3%	8.3%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	13.3%	13.3%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.8%	2.8%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	22.5%	22.5%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-0.4%	-0.4%	-5.7%
LEU_8312025_Quality_Momentum_RoomToRun_10%	08312025	LEU	Centrus Energy	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	31.7%	31.7%	-1.3%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	8.3%	8.3%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	13.3%	13.3%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.8%	2.8%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	22.5%	22.5%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-0.4%	-0.4%	-5.7%
LEU_8312025_Quality_Momentum_RoomToRun_10%	08312025	LEU	Centrus Energy	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	31.7%	31.7%	-1.3%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for Centrus Energy

Peers to compare with:

Financials

	LEU	EU	NC	CCJ	UEC	Median
Name	Centrus .	enCore E.	NACCO In.	Cameco	Uranium .
Mkt Price	268.10	2.83	46.70	89.45	12.95	46.70
Mkt Cap	4.9	0.5	0.3	38.9	5.8	4.9
Rev LTM	454	45	281	3,464	67	281
Op Inc LTM	83	-90	-46	646	-73	-46
FCF LTM	146	-55	6	973	-70	6
FCF 3Y Avg	62	-52	-2	593	-36	-2
CFO LTM	157	-23	65	1,261	-64	65
CFO 3Y Avg	67	-32	43	801	-33	43

Growth & Margins

	LEU	EU	NC	CCJ	UEC	Median
Name	Centrus .	enCore E.	NACCO In.	Cameco	Uranium .
Rev Chg LTM	15.3%	-23.1%	25.3%	23.9%	29,737.9%	23.9%
Rev Chg 3Y Avg	21.3%	-	8.0%	24.2%	10,082.6%	22.7%
Rev Chg Q	29.8%	-31.1%	24.3%	-14.7%	-	4.8%
QoQ Delta Rev Chg LTM	3.9%	-3.6%	5.6%	-3.0%	0.0%	0.0%
Op Mgn LTM	18.2%	-202.9%	-16.2%	18.6%	-109.9%	-16.2%
Op Mgn 3Y Avg	14.3%	-357.2%	-18.2%	13.3%	-8,450.6%	-18.2%
QoQ Delta Op Mgn LTM	-2.8%	0.7%	0.8%	0.3%	-20.6%	0.3%
CFO/Rev LTM	34.6%	-51.0%	23.0%	36.4%	-96.4%	23.0%
CFO/Rev 3Y Avg	15.9%	133.4%	17.4%	27.3%	-15,863.7%	17.4%
FCF/Rev LTM	32.3%	-122.7%	2.3%	28.1%	-105.0%	2.3%
FCF/Rev 3Y Avg	14.6%	10.3%	-1.0%	20.1%	-16,376.8%	10.3%

Valuation

	LEU	EU	NC	CCJ	UEC	Median
Name	Centrus .	enCore E.	NACCO In.	Cameco	Uranium .
Mkt Cap	4.9	0.5	0.3	38.9	5.8	4.9
P/S	12.5	12.0	1.1	10.5	45.3	12.0
P/EBIT	45.7	-5.8	14.1	46.8	-34.1	14.1
P/E	50.0	-6.8	10.8	69.4	-34.6	10.8
P/CFO	36.1	-23.5	4.9	29.0	-47.0	4.9
Total Yield	2.0%	-14.7%	11.5%	1.4%	-2.9%	1.4%
Dividend Yield	0.0%	0.0%	2.3%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	2.4%	-7.2%	-2.6%	2.3%	-0.4%	-0.4%
D/E	0.2	0.0	0.3	0.0	0.0	0.0
Net D/E	-0.1	-0.1	0.1	0.0	-0.0	-0.0

Returns

	LEU	EU	NC	CCJ	UEC	Median
Name	Centrus .	enCore E.	NACCO In.	Cameco	Uranium .
1M Rtn	-21.8%	-1.4%	11.1%	-11.1%	-7.5%	-7.5%
3M Rtn	33.0%	19.9%	24.3%	16.2%	12.5%	19.9%
6M Rtn	90.1%	32.9%	31.4%	49.6%	110.6%	49.6%
12M Rtn	248.5%	-21.6%	50.8%	51.0%	58.1%	51.0%
3Y Rtn	600.9%	2,738.5%	8.9%	278.8%	247.2%	278.8%
1M Excs Rtn	-21.8%	-1.4%	11.1%	-11.0%	-7.5%	-7.5%
3M Excs Rtn	29.4%	16.6%	12.7%	12.2%	9.5%	12.7%
6M Excs Rtn	75.4%	18.1%	16.7%	34.9%	95.8%	34.9%
12M Excs Rtn	181.1%	-38.7%	36.3%	37.3%	42.3%	37.3%
3Y Excs Rtn	563.1%	2,665.7%	-57.5%	219.0%	185.9%	219.0%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	2/7/2025	2/9/2024	2/22/2023	3/11/2022	3/22/2021	3/27/2020
Key Financials
Total Revenue	454	442	320	294	298	247	210
EBITDA	134	86	93	78	145	60	-6
Operating Income	83	48	56	60	68	51	-20
Net Income	114	73	84	52	175	54	-16
EPS	6.65	4.49	5.55	3.47	10.03	0.59	-2.54
Growth Rates
Total Revenue Growth	15.3%	38.0%	9.0%	-1.5%	20.7%	17.9%	8.7%
EBITDA Growth	41.2%	-6.9%	19.3%	-46.1%	139.4%	1074.2%	93.3%
Operating Income Growth	111.8%	-13.8%	-7.0%	-11.9%	33.9%	358.9%	78.7%
Net Income Growth	50.0%	-13.3%	61.7%	-70.2%	221.7%	429.7%	84.1%
Margins
EBITDA Margin	29.5%	19.6%	29.0%	26.5%	48.5%	24.4%	-3.0%
Operating Income Margin	18.2%	10.9%	17.5%	20.5%	22.9%	20.6%	-9.4%
Net Income Margin	25.0%	16.6%	26.4%	17.8%	58.7%	22.0%	-7.9%
Cash & Debt
Total Cash	1,632	671	201	180	194	152	131
Total Debt	1,248	157	174	164	131	116	123
Net Debt / (Cash)	-384	-514	-27	-16	-63	-36	-8
Cash Flows
Net Cash from Operations	157	37	9	21	50	67	11
Free Cash from Operations	146	33	8	20	49	66	11
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	44	62	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/6/2025	5/8/2025	2/7/2025	10/29/2024	8/7/2024	5/8/2024	2/9/2024	11/8/2023	8/4/2023	5/9/2023	2/22/2023
Key Financials Quarterly
Total Revenue	75	154	73	152	58	189	44	104	51	98	67	126
Ebitda	-3	44	40	53	-3	44	-7	61	3	18	11	31
Operating Income	-17	34	20	45	-8	21	-11	36	-3	14	8	31
Net Income	4	29	27	54	-5	31	-6	56	8	13	7	21
EPS	0.21	1.63	1.60	3.21	-0.30	1.89	-0.38	3.64	0.53	0.84	0.49	1.35
Key Financials TTM
Total Revenue TTM	454	437	471	442	394	388	297	320	343	325	325	294
Ebitda TTM	134	134	133	86	95	101	75	93	63	54	88	78
Operating Income TTM	83	92	79	48	39	44	37	56	51	41	72	60
Net Income TTM	114	105	106	73	76	89	71	84	49	35	60	52
Growth Rates Quarterly
Total Revenue Growth	29.8%	-18.3%	67.3%	46.3%	12.5%	92.1%	-34.7%	-17.9%	54.5%	-0.7%	89.5%	41.8%
EBITDA Growth	0.0%	1.6%	698.5%	-13.8%	-219.2%	141.4%	-159.8%	97.4%	140.0%	-65.4%	833.3%	-61.0%
Operating Income Growth	-118.4%	58.8%	293.4%	25.4%	-162.1%	46.5%	-229.3%	15.7%	77.3%	-68.1%	341.2%	44.2%
Net Income Growth	178.0%	-5.6%	545.9%	-4.6%	-161.0%	140.9%	-184.7%	164.3%	234.4%	-66.0%	1900.0%	-81.7%
Margins Quarterly
EBITDA Margin	-4.1%	28.7%	54.9%	34.7%	-5.4%	23.1%	-15.3%	58.9%	5.1%	18.4%	16.7%	24.5%
Operating Income Margin	-22.2%	21.7%	28.0%	29.9%	-13.2%	11.2%	-24.3%	34.9%	-5.7%	14.6%	12.3%	24.8%
Net Income Margin	5.2%	18.7%	37.2%	35.4%	-8.7%	16.2%	-14.0%	54.3%	16.0%	12.9%	10.8%	16.9%
Cash & Debt
Total Cash	1,632	833	653	671	194	227	209	201	183	212	189	180
Total Debt	1,248	430	458	157	171	172	170	174	170	173	172	164
Net Debt / (Cash)	-384	-403	-195	-514	-24	-55	-39	-27	-13	-40	-17	-16
Cash Flows Quarterly
FCF from Operations	10	53	36	58	-33	7	5	18	-24	25	-10	56
Cash Flows TTM
FCF from Operations TTM	157	114	68	37	-3	6	24	9	47	92	24	21
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	93.7%	-	-14.1%	44.7%	-20.5%	90.2%	-6.9%	32.2%	14.9%	67.3%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	107.3%	-	19.4%	29.6%	24.7%	36.0%	27.7%	22.5%	33.5%	32.3%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Low-Enriched Uranium (LEU) segment	274	236	186	190	169
Technical Solutions segment	51	58	112	57	40
Elimination of intersegment revenue	-5	0
Total	320	294	298	247	210

Price Behavior

Price Behavior

Market Price	$268.10
Market Cap ($ Bil)	4.9
First Trading Date	07/23/1998
Distance from 52W High	-38.5%
	50 Days	200 Days
DMA Price	$320.60	$187.81
DMA Trend	up	up
Distance from DMA	-16.4%	42.8%
	3M	1YR
Volatility	99.2%	94.9%
Downside Capture	481.47	177.67
Upside Capture	488.08	280.01
Correlation (SPY)	38.8%	37.1%

LEU Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	3.25	3.13	3.04	2.45	1.77	1.65
Up Beta	0.99	0.43	-0.54	0.67	1.52	1.32
Down Beta	5.07	1.50	2.05	2.35	1.73	1.69
Up Capture	25%	412%	675%	607%	663%	2038%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	8	20	31	66	120	372
Down Capture	480%	413%	349%	218%	132%	109%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	12	22	32	59	128	375

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of LEU With Other Asset Classes (Last 1Y)
	LEU	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	225.0%	-1.1%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	95.7%	24.6%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	1.65	-0.09	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		19.8%	36.9%	11.6%	16.8%	17.9%	32.1%

ETFs used for asset classes: Sector ETF = XLE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of LEU With Other Asset Classes (Last 5Y)
	LEU	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	85.9%	22.4%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	85.3%	27.1%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	1.11	0.76	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		29.2%	38.3%	12.1%	19.3%	23.9%	25.9%

Based On 10-Year Data

		Comparison of LEU With Other Asset Classes (Last 10Y)
	LEU	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	66.6%	7.1%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	91.3%	29.9%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.95	0.29	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		17.5%	22.4%	5.4%	14.2%	15.6%	15.1%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	4,610,699
Short Interest: % Change Since 10312025	3.4%
Average Daily Volume	1,371,885
Days-to-Cover Short Interest	3.36
Basic Shares Quantity	18,317,000
Short % of Basic Shares	25.2%

Returns Analyses

	Title
0	Would You Still Hold Centrus Energy Stock If It Fell Another 30%?

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8062025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	2072025	10-K 12/31/2024
9302024	10292024	10-Q 9/30/2024
6302024	8072024	10-Q 6/30/2024
3312024	5082024	10-Q 3/31/2024
12312023	2092024	10-K 12/31/2023
9302023	11082023	10-Q 9/30/2023
6302023	8042023	10-Q 6/30/2023
3312023	5092023	10-Q 3/31/2023
12312022	2222023	10-K 12/31/2022
9302022	11092022	10-Q 9/30/2022
6302022	8052022	10-Q 6/30/2022
3312022	5062022	10-Q 3/31/2022
12312021	3112022	10-K 12/31/2021

External Quote Links

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5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Centrus Energy (LEU)

Market Price (12/4/2025): $268.0 | Market Cap: $4.9 BilSector: Energy | Industry: Coal & Consumable Fuels

Centrus Energy (LEU)

Market Price (12/4/2025): $268.0Market Cap: $4.9 BilSector: EnergyIndustry: Coal & Consumable Fuels

Valuation, Metrics & Events

LEU Stock

Why The Stock Moved

Qualitative Assessment

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About Centrus Energy (LEU)

Centrus Energy (LEU) - Major Customers

Amir Vexler

Todd Tinelli

Patrick Brown

John M.A. Donelson

Neal Nagarajan

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Market Price (12/4/2025): $268.0 | Market Cap: $4.9 Bil
Sector: Energy | Industry: Coal & Consumable Fuels

Market Price (12/4/2025): $268.0
Market Cap: $4.9 Bil
Sector: Energy
Industry: Coal & Consumable Fuels