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Unless the context otherwise requires, all references in this section to NuScale, the Company, we, us or our refer to the consolidated operations of NuScale Corp and NuScale LLC. Overview NuScale is redefining nuclear power through the development of proprietary and innovative SMR technology that the Company believes will deliver safe, scalable, cost-effective and reliable carbon-free power.
The business is unprofitable at the operating level (-2190.57% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 15.0% YoY. Margins deteriorated 1816.1pp alongside, both lines moving the wrong way.
ROIC dropped from -30.65% to -60.95%, capital efficiency is deteriorating. Negative free cash flow of -$460M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$19M
▼ -15.0% YoY
Net Income (TTM)
-$386M
▼ -160.4% YoY
Op. Margin
-3812.57%
▼ -1816.1pp YoY
ROIC
-58.22%
▼ -30.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$752M
▼ -323.3% YoY
Op. Cash Flow (TTM)
-$752M
▼ -323.0% YoY
Net Debt
-$884M
Net Cash Position
Cash & Equiv.
$890M
5Y CAGR: +120.8%
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