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NuScale Power Corporation provides small modular reactor technology solutions. It offers NuScale Power Module (NPM), a light water nuclear reactor that can generate 77 megawatts of electricity (MWe). The company also provides design and nuclear regulatory licensing basis information to construct and operate the power plant; and licensing, design, development, construction, operation, and maintenance of the power plant. In addition, it offers regulatory licensing support services; start-up testing and commissioning support; accredited training programs to support initial and ongoing power plant operations; management of all aspects of the U.S. Nuclear Regulatory Commission required inspections, tests, analysis, and acceptance criteria process; NuScale Power Module mechanical handling; initial and ongoing fuel bundle loading and movement; design engineering management during commercial operation; operations and maintenance program management; procurement and spare parts management; nuclear fuel management, including reload analysis; and outage planning and execution support services. The company has a strategic partnership with Ebara Elliott Energy for the development, demonstration, and testing of industrial scale compressors using power modules. NuScale Power Corporation was founded in 2007 and is headquartered in Corvallis, Oregon.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $31M | $-688M | $-356M | $-460M | -30.4% | -15.0% | 160.4% |
| 2024 | $37M | $-137M | $-137M | $-109M | -22.1% | 62.4% | 134.1% |
| 2023 | $23M | $-273M | $-58M | $-185M | -62.4% | 93.2% | 2.3% |
| 2022 | $12M | $-227M | $-57M | $-151M | -19.2% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 11.80 | 22.81 | 37.04 | 31.48 |
| Operating Revenue | - | 11.80 | 22.81 | 37.04 | 31.48 |
| Cost Of Revenue | - | 7.32 | 18.96 | 4.94 | 20.05 |
| Gross Profit | - | 4.49 | 3.85 | 32.11 | 11.43 |
| Operating Expense | - | 234.48 | 279.41 | 170.83 | 701 |
| Research And Development | - | 127.66 | 156.05 | 46.82 | 45.53 |
| Selling General And Administration | - | 55.31 | 65.40 | 75.90 | 609.83 |
| Total Expenses | - | 241.80 | 298.38 | 175.77 | 721.05 |
| Operating Income | - | -230 | -275.56 | -138.72 | -689.57 |
| Total Operating Income As Reported | - | -230 | -275.56 | -138.72 | -689.57 |
| EBITDA | - | -227.30 | -273.01 | -136.88 | -688.39 |
| Normalized EBITDA | - | -239.44 | -307.43 | 77.73 | -713.69 |
| EBIT | - | -230 | -275.56 | -138.72 | -689.57 |
| Interest Income | - | 3.76 | 10.79 | 8.39 | - |
| Net Interest Income | -1.72 | 3.76 | 10.79 | 8.39 | - |
| Other Non Operating Income Expenses | - | 72.51 | 61.03 | 6.88 | 0.15 |
| Other Income Expense | - | 84.66 | 95.45 | -207.73 | 25.45 |
| Interest Income Non Operating | - | 3.76 | 10.79 | 8.39 | - |
| Net Non Operating Interest Income Expense | -1.72 | 3.76 | 10.79 | 8.39 | - |
| Pretax Income | - | -141.57 | -180.12 | -346.45 | -664.12 |
| Tax Provision | - | 0 | 0 | 1.94 | 0.34 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -45.07 | 0 |
| Net Income Continuous Operations | - | -141.57 | -180.12 | -348.39 | -664.46 |
| Net Income From Continuing And Discontinued Operation | - | -57.07 | -58.36 | -136.62 | -355.79 |
| Net Income From Continuing Operation Net Minority Interest | - | -57.07 | -58.36 | -136.62 | -355.79 |
| Net Income | - | -57.07 | -58.36 | -136.62 | -355.79 |
| Net Income Common Stockholders | - | -25.91 | -58.36 | -136.62 | -355.79 |
| Net Income Including Noncontrolling Interests | - | -141.57 | -180.12 | -348.39 | -664.46 |
| Normalized Income | - | -69.22 | -92.78 | 32.92 | -381.10 |
| Diluted NI Availto Com Stockholders | - | -25.91 | -58.36 | -136.62 | -355.79 |
| Basic Average Shares | 43.62 | 50.76 | 73.39 | 93.25 | - |
| Diluted Average Shares | 43.62 | 50.76 | 73.39 | 93.25 | - |
| Reconciled Depreciation | - | 2.70 | 2.56 | 1.84 | 1.18 |
| Reconciled Cost Of Revenue | - | 7.32 | 18.96 | 4.94 | 20.05 |
| Total Unusual Items | - | 12.15 | 34.42 | -214.61 | 25.30 |
| Total Unusual Items Excluding Goodwill | - | 12.15 | 34.42 | -214.61 | 25.30 |
| Minority Interests | - | 84.50 | 121.75 | 211.76 | 308.67 |
| Gain On Sale Of Security | - | 12.15 | 34.42 | -214.61 | 25.30 |
| General And Administrative Expense | - | 55.31 | 65.40 | 75.90 | 609.83 |
| Other Gand A | - | 55.31 | 65.40 | 75.90 | 609.83 |
| Total Other Finance Cost | 1.72 | -3.94 | -10.79 | - | - |
| Other Operating Expenses | - | 51.51 | 57.96 | 48.12 | 45.64 |
| Otherunder Preferred Stock Dividend | 0 | -31.16 | 0 | 0 | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NuScale Power Corporationthis co. | SMR | $4.2B | -11.67 | 3.55 | -30.4% | - |
| Herc Holdings Inc. | HRI | $4.7B | 4690.39 | 2.41 | 0.1% | 9.57 |
| Xometry, Inc. | XMTR | $4.6B | -74.00 | 16.58 | -22.4% | -130.48 |
| BETA Technologies, Inc. | BETA | $4.3B | -5.82 | 2.39 | -41.0% | -3.99 |
| Redwire Corporation | RDW | $4.3B | -18.82 |
| - |
| - |
| - |
| - |
| - |
| - |
| 4.02 |
| -21.4% |
| -23.94 |
| The Brink's Company | BCO | $4.2B | 20.82 | 14.97 | 71.9% | 7.92 |
| York Space Systems, Inc. | YSS | $3.8B | -45.52 | 4.43 | -9.7% | -211.18 |
| Tutor Perini Corporation | TPC | $3.8B | 47.50 | 3.14 | 6.6% | 11.47 |
| GPGI, Inc. | GPGI | $3.5B | -25.51 | 14.27 | -55.9% | -15.20 |
| Peer Median | - | -12.32 | 4.23 | -15.6% | -9.59 | |