Nuclear stocks by value-chain stage
The listed companies between mined pounds and delivered electricity: enrichment and fuel, reactor vendors and SMR developers, nuclear utilities. Their economics ride capacity, contracts, licensing and technology milestones, not pounds in the ground, so each row leads with a cited structural figure instead of a resource ratio. Uranium miners live in the screener →
Fuel cycle
Conversion, enrichment, fuel fabrication and fuel technology: the steps between mined pounds and a loaded assembly. Economics ride capacity, contracts and technology milestones, so resource metrics do not apply.
| Company | Segment | Price | Mkt cap | 1y | Short % | Headline figure | Sources |
|---|---|---|---|---|---|---|---|
| ASP IsotopesNASDAQ:ASPI | Isotope separationHALEU and deconversionUnited States / South Africa | $2.86 | $438M | -67.3% | 18.6% | — | [1][2] |
| BWX TechnologiesNYSE:BWXT | Fuel fabricationHALEU and deconversion · Reactor vendorUnited States | $146.18 | $13.39B | -28.9% | 4.4% | 2 facilitiesFuel-cycle facilities · WNA lists no nameplate for these facilities[1][2] | [1][2][3][4] |
| Centrus EnergyNYSE American:LEU | Uranium enrichmentHALEU and deconversionUnited States | $153.60 | $3.03B | -60.3% | 27.7% | 1 facilityFuel-cycle facilities · WNA lists no nameplate for these facilities[1] | [1][2][3] |
| LightbridgeNASDAQ:LTBR | Fuel technologyUnited States | $6.83 | $241M | -72.0% | 14.6% | — | [1] |
| Silex SystemsASX:SLX · OTC: SILXY | Laser enrichment technologyAustralia / United States | A$4.38 | $852M | -36.6% | — | 2 awardsDOE awards in the policy ledger · $28M in stated single-award amounts across 1 of 2; ceilings and per-recipient minimums are counted, not summed[1][2] | [1][2] |
| GE VernovaNYSE:GEVDiversified: excluded from totals | Reactor vendorFuel fabricationUnited States | $1034.69 | $275.57B | +64.5% | 3.3% | 900 MWTracked reactor pipeline · 300 MW licensing · 300 MW under construction · 300 MW planning[1][2][3] | [1][2][3][4] |
Reactor vendors and SMR developers
Companies that own a reactor design. Value rides licensing milestones, project pipelines and offtake, not pounds in the ground.
| Company | Segment | Price | Mkt cap | 1y | Short % | Headline figure | Sources |
|---|---|---|---|---|---|---|---|
| BWX TechnologiesNYSE:BWXT | Fuel fabricationHALEU and deconversion · Reactor vendorUnited States | $146.18 | $13.39B | -28.9% | 4.4% | 2 facilitiesFuel-cycle facilities · WNA lists no nameplate for these facilities[1][2] | [1][2][3][4] |
| GE VernovaNYSE:GEVDiversified: excluded from totals | Reactor vendorFuel fabricationUnited States | $1034.69 | $275.57B | +64.5% | 3.3% | 900 MWTracked reactor pipeline · 300 MW licensing · 300 MW under construction · 300 MW planning[1][2][3] | [1][2][3][4] |
Methodology
Real- Who belongs here
- Listed companies whose business is a nuclear value-chain step other than mining: the fuel cycle (conversion, enrichment, deconversion and HALEU, fuel fabrication, fuel technology, isotope separation), reactor vendors and SMR developers, utilities with nuclear fleets, and nuclear services. They are tracked separately from miners because their economics ride capacity, contracts, licensing and technology milestones rather than pounds in the ground, so none of the resource-based screener metrics (EV/lb, cost, margin) apply. Inclusion is rule-based: a primary listing on a US, UK, Australian or Canadian exchange with a resolvable quote; no overlap with the miner, explorer or fund universes; and a cited materiality statement. Utilities qualify at 2 GW of owned nuclear capacity or nuclear at 15% of owned capacity, cited to the 10-K properties table.
- Materiality
- Every company carries a materiality tier with the filing that proves it: pure play, a reportable nuclear segment, or diversified (nuclear is a named but small line). Diversified companies show a badge and never enter stage totals or rankings, so a conglomerate cannot be read as a nuclear proxy.
- Market caps and prices
- Computed live from the primary listing via EODHD (shares x price x FX) and never stored. A row degrades to its cited facts alone when live data is unavailable, never an estimated cap.
- Joined figures
- Facilities, SMR projects, datacenter deals, DOE awards, Reactor Pilot Program milestones and operated reactor fleets are not copied into this dataset. Each company lists exact-match alias keys into the site's cited datasets and the figures are joined when the page renders, so an update to the source dataset reaches every company page in the same deploy. A test fails if an alias matches nothing. Reactor fleet figures come from Global Energy Monitor's Global Nuclear Power Tracker (CC BY 4.0) and are labelled operated site capacity, never ownership share.
- Citations
- Every stated fact links the company page or disclosure that states it. Facts are structural (what the company does, where, with whom); figures that change with each quarter belong to the company's filings, not this dataset. Every row records the date of its last human review.
Considered and not listed
- Urenco, Orano, Framatome, Westinghouse, X-energy, TerraPower, Kairos Power, Holtec, Global Laser Enrichment, General Matter: Not listed (state-owned, private, or a subsidiary of a listed parent). Appear only through joins and cross-references.
- Honeywell (ConverDyn), Brookfield (Westinghouse): Nuclear is immaterial to the listed parent; cross-referenced from facilities only.
- Cameco, Kazatomprom, Energy Fuels, Uranium Royalty: Tracked in the miner universe; related fuel-cycle assets are cross-referenced via relatedTickers.
- Deep Fission: OTC-only quotation after a 2025 reverse merger; held out until the first 10-Q is on EDGAR.
- Mitsubishi Heavy Industries, Hitachi, Doosan Enerbility, KEPCO, CGN Power, Fortum: Asia and Europe primary listings deferred by the owner (first pass is US, UK, AU and CA).
Cite this page
Using our data in an article or report? Please credit Yellowcake Analytics with a link.
Yellowcake Analytics. "Nuclear Stocks by Value-Chain Stage." Yellowcake Analytics, 2026, https://www.yellowcakeanalytics.com/nuclear-stocks.
<a href="https://www.yellowcakeanalytics.com/nuclear-stocks">Nuclear Stocks by Value-Chain Stage</a> — Yellowcake Analytics (www.yellowcakeanalytics.com)
Fuel-cycle companies also appear as their own tier in the uranium stock screener, and on the fuel-cycle view.
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