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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 | -32.0% | -15.0% | - |
| 2024 | $37M | $-137M | $-137M | $-109M | -30.2% | 62.4% | - |
| 2023 | $23M | $-273M | $-58M | $-185M | -45.1% | 93.2% | - |
| 2022 | $12M | $-227M | $-57M | $-151M | -20.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 11.80 | 22.81 | 37.05 | 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 |
| Operating Income | -230 | -275.56 | -138.72 | -689.57 |
| EBITDA | -227.30 | -273.01 | -136.88 | -688.39 |
| EBIT | -230 | -275.56 | -138.72 | -689.57 |
| Pretax Income | -141.57 | -180.12 | -346.45 | -664.12 |
| Tax Provision | 0 | 0 | 1.94 | 0.34 |
| Net Income | -57.07 | -58.36 | -136.62 | -355.79 |
| Net Income Common Stockholders | -25.91 | -58.36 | -136.62 | -355.79 |
| Total Expenses | 241.80 | 298.38 | 175.77 | 721.05 |
| Interest Income | 3.76 | 10.79 | 8.39 | 0 |
| Research And Development | 127.66 | 156.05 | 46.82 | 45.53 |
| Selling General And Administration | 55.31 | 65.40 | 75.90 | 609.83 |
| Normalized EBITDA | -239.44 | -307.43 | 77.73 | -713.69 |
| Normalized Income | -69.22 | -92.78 | 32.92 | -381.10 |
| Basic EPS | -0.51 | -0.80 | -1.47 | 0 |
| Diluted EPS | -0.51 | -0.80 | -1.47 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | -45.07 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0.21 | 0 |
| Total Unusual Items | 12.15 | 34.42 | -214.61 | 25.30 |
| Total Unusual Items Excluding Goodwill | 12.15 | 34.42 | -214.61 | 25.30 |
| Net Income From Continuing Operation Net Minority Interest | -57.07 | -58.36 | -136.62 | -355.79 |
| Reconciled Depreciation | 2.70 | 2.56 | 1.84 | 1.18 |
| Reconciled Cost Of Revenue | 7.32 | 18.96 | 4.94 | 20.05 |
| Net Interest Income | 3.76 | 10.79 | 8.39 | 0 |
| Net Income From Continuing And Discontinued Operation | -57.07 | -58.36 | -136.62 | -355.79 |
| Total Operating Income As Reported | -230 | -275.56 | -138.72 | -689.57 |
| Diluted Average Shares | 50.76 | 73.39 | 93.25 | 0 |
| Basic Average Shares | 50.76 | 73.39 | 93.25 | 0 |
| Diluted NI Availto Com Stockholders | -25.91 | -58.36 | -136.62 | -355.79 |
| Otherunder Preferred Stock Dividend | -31.16 | 0 | 0 | 0 |
| Minority Interests | 84.50 | 121.75 | 211.76 | 308.67 |
| Net Income Including Noncontrolling Interests | -141.57 | -180.12 | -348.39 | -664.46 |
| Net Income Continuous Operations | -141.57 | -180.12 | -348.39 | -664.46 |
| Other Income Expense | 84.66 | 95.45 | -207.73 | 25.45 |
| Other Non Operating Income Expenses | 72.51 | 61.03 | 6.88 | 0.15 |
| Gain On Sale Of Security | 12.15 | 34.42 | -214.61 | 25.30 |
| Net Non Operating Interest Income Expense | 3.76 | 10.79 | 8.39 | 0 |
| Total Other Finance Cost | -3.94 | -10.79 | 0 | 0 |
| Interest Income Non Operating | 3.76 | 10.79 | 8.39 | 0 |
| Other Operating Expenses | 51.51 | 57.96 | 48.12 | 45.65 |
| General And Administrative Expense | 55.31 | 65.40 | 75.90 | 609.83 |
| Other Gand A | 55.31 | 65.40 | 75.90 | 609.83 |
| Operating Revenue | 11.80 | 22.81 | 37.05 | 31.48 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NuScale Power Corporationthis co. | SMR | $3.7B | - | 3.08 | -32.0% | -12.69 |
| Herc Holdings Inc. | HRI | $4.4B | - | 2.25 | 0.1% | 15.30 |
| Archer Aviation Inc. | ACHR | $4.2B | - | 1.89 | -28.1% | -3.28 |
| GPGI, Inc. | GPGI | $4.2B | - | 7.52 | -55.9% | -335.00 |
| Intuitive Machines, Inc. | LUNR | $4.0B | - |
| -3.98 |
| -40.9% |
| -55.99 |
| York Space Systems, Inc. | YSS | $3.7B | - | 1.68 | -9.7% | -473.39 |
| Maximus, Inc. | MMS | $3.6B | 10.02 | 2.07 | 19.1% | 7.27 |
| BETA Technologies, Inc. | BETA | $3.5B | - | 1.83 | -41.0% | -5.24 |
| Exponent, Inc. | EXPO | $3.2B | 31.97 | 8.41 | 27.2% | 24.03 |
| Peer Median | - | 21.00 | 1.98 | -18.9% | -4.26 | |