Cameco Corporation (CCJ) 10-Year Financial Performance & Capital Metrics

CCJ • • Industrial / General

EnergyUraniumIntegrated Uranium ProducersMajor Integrated Producers

AboutCameco Corporation produces and sells uranium. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. This segment also produces fuel bundles or reactor components for CANDU reactors. The company sells its uranium and fuel services to nuclear utilities in the Americas, Europe, and Asia. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada.Show more

Revenue $3.14B +21.2%
EBITDA $825M +63.9%
Net Income $172M -52.4%
EPS (Diluted) 0.39 -53.0%
Gross Margin 33.91% +12.2%
EBITDA Margin 26.29% +35.2%
Operating Margin 16.27% +48.8%
Net Margin 5.48% -60.7%
ROE 2.76% -54.4%
ROIC 5.32% +63.1%
Debt/Equity 0.20 -30.4%
Interest Coverage 3.98 +29.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 18.4%
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 22.1% free cash flow margin
✓Momentum leader: RS Rating 89 (top 11%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 11.0%

✗Weaknesses

✗Weak 3Y average ROE of 3.5%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.72%

5Y10.98%

3Y28.58%

TTM23.88%

Profit (Net Income) CAGR

10Y-0.75%

5Y18.35%

3Y-

TTM351.54%

EPS CAGR

10Y-1.85%

5Y15.47%

3Y-

TTM365.81%

ROCE

10Y Avg0.83%

5Y Avg1.26%

3Y Avg3.13%

Latest5.84%

Peer Comparison

Major Integrated Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CCJCameco Corporation	49.13B	112.84	289.33	21.18%	15.18%	7.76%	1.41%	0.20
LEUCentrus Energy Corp.	5.35B	306.10	68.48	38.04%	25.04%	31.31%	0.61%	0.97

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.75B	2.43B	2.16B	2.09B	1.86B	1.8B	1.47B	1.87B	2.59B	3.14B
Revenue Growth %	0.15%	-0.12%	-0.11%	-0.03%	-0.11%	-0.03%	-0.18%	0.27%	0.39%	0.21%
Cost of Goods Sold+	2.06B	1.97B	1.72B	1.8B	1.62B	1.43B	1.47B	1.63B	1.81B	2.07B
COGS % of Revenue	0.75%	0.81%	0.8%	0.86%	0.87%	0.79%	1%	0.88%	0.7%	0.66%
Gross Profit+	697.04M	463.48M	436.27M	295.75M	241.63M	370.09M	1.93M	233.29M	781.99M	1.06B
Gross Margin %	0.25%	0.19%	0.2%	0.14%	0.13%	0.21%	0%	0.12%	0.3%	0.34%
Gross Profit Growth %	0.09%	-0.34%	-0.06%	-0.32%	-0.18%	0.53%	-0.99%	119.63%	2.35%	0.36%
Operating Expenses+	233.66M	220.11M	198.73M	223.21M	149.21M	448.82M	138.15M	218.24M	499.13M	553.17M
OpEx % of Revenue	0.08%	0.09%	0.09%	0.11%	0.08%	0.25%	0.09%	0.12%	0.19%	0.18%
Selling, General & Admin	186.81M	206.65M	163.09M	141.55M	124.87M	156.22M	127.57M	172.03M	245.54M	272.57M
SG&A % of Revenue	0.07%	0.08%	0.08%	0.07%	0.07%	0.09%	0.09%	0.09%	0.09%	0.09%
Research & Development	6.59M	4.95M	5.66M	1.76M	6.06M	3.96M	7.17M	12.18M	21.04M	36.54M
R&D % of Revenue	0%	0%	0%	0%	0%	0%	0%	0.01%	0.01%	0.01%
Other Operating Expenses	-4.6M	59.57M	-1.32M	2.16M	18.29M	288.63M	3.41M	34.04M	232.55M	244.06M
Operating Income+	245.57M	-141.78M	-127.73M	70.24M	92.41M	-78.73M	-136.21M	15.05M	282.86M	510.11M
Operating Margin %	0.09%	-0.06%	-0.06%	0.03%	0.05%	-0.04%	-0.09%	0.01%	0.11%	0.16%
Operating Income Growth %	5.41%	-1.58%	0.1%	1.55%	0.32%	-1.85%	-0.73%	1.11%	17.79%	0.8%
EBITDA+	558.09M	250.54M	224.52M	481.34M	368.16M	142.56M	54.2M	192.43M	503.19M	824.54M
EBITDA Margin %	0.2%	0.1%	0.1%	0.23%	0.2%	0.08%	0.04%	0.1%	0.19%	0.26%
EBITDA Growth %	0.48%	-0.55%	-0.1%	1.14%	-0.24%	-0.61%	-0.62%	2.55%	1.61%	0.64%
D&A (Non-Cash Add-back)	312.52M	392.32M	352.25M	411.1M	275.75M	221.29M	190.41M	177.38M	220.32M	314.43M
EBIT	17.25M	-59.19M	-112.01M	136.65M	218.94M	-37.08M	-43.14M	153.83M	579.2M	474.91M
Net Interest Income+	-98.2M	-107.53M	-105.34M	-89.71M	-68.86M	-60.86M	-53.91M	-31.54M	-4.2M	-125.94M
Interest Income	5.42M	4.38M	5.26M	22.07M	29.76M	10.84M	6.8M	37.5M	87.85M	2.22M
Interest Expense	96.51M	95.05M	95.23M	96.72M	83.92M	57.74M	60.71M	69.04M	92.05M	128.16M
Other Income/Expense	-324.84M	-12.45M	-79.5M	-30.31M	42.61M	39.2M	32.36M	69.74M	204.29M	-253.4M
Pretax Income+	-79.27M	-154.23M	-207.24M	39.93M	135.02M	-39.53M	-103.86M	84.8M	487.15M	256.72M
Pretax Margin %	-0.03%	-0.06%	-0.1%	0.02%	0.07%	-0.02%	-0.07%	0.05%	0.19%	0.08%
Income Tax+	-142.63M	-94.36M	-2.52M	-126.31M	61.08M	13.67M	-1.2M	-4.47M	126.34M	84.87M
Effective Tax Rate %	-0.82%	0.4%	0.99%	4.17%	0.55%	1.34%	0.99%	1.05%	0.74%	0.67%
Net Income+	65.29M	-61.61M	-204.94M	166.32M	74M	-53.17M	-102.58M	89.38M	360.85M	171.85M
Net Margin %	0.02%	-0.03%	-0.1%	0.08%	0.04%	-0.03%	-0.07%	0.05%	0.14%	0.05%
Net Income Growth %	-0.65%	-1.94%	-2.33%	1.81%	-0.56%	-1.72%	-0.93%	1.87%	3.04%	-0.52%
Net Income (Continuing)	63.36M	-59.88M	-204.72M	166.24M	73.94M	-53.2M	-102.65M	89.26M	360.82M	171.84M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-1.74M	157K	371K	310K	183.53K	206K	127K	11K	4K	26K
EPS (Diluted)+	0.16	-0.16	-0.52	0.42	0.19	-0.13	-0.26	0.22	0.83	0.39
EPS Growth %	-0.66%	-2%	-2.25%	1.81%	-0.55%	-1.68%	-1%	1.85%	2.77%	-0.53%
EPS (Basic)	0.16	-0.16	-0.52	0.42	0.19	-0.13	-0.26	0.22	0.83	0.40
Diluted Shares Outstanding	395.79M	395.79M	395.79M	396.05M	396.06M	395.83M	397.63M	407.13M	435.36M	435.96M
Basic Shares Outstanding	395.79M	385.07M	394.12M	395.79M	395.8M	395.83M	397.63M	405.49M	433.38M	434.87M
Dividend Payout Ratio	2.42%	-	-	0.43%	0.33%	-	-	0.58%	0.14%	0.41%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	2.18B	2.04B	2.14B	2.08B	1.39B	1.95B	2.14B	3.32B	1.84B	1.92B
Cash & Short-Term Investments	458.6M	320.28M	591.62M	1.1B	819.3M	943.37M	1.33B	2.28B	566.81M	600.46M
Cash Only	458.6M	320.28M	591.62M	711.53M	819.3M	918.38M	1.25B	1.14B	566.81M	600.46M
Short-Term Investments	0	0	0	391.02M	0	24.98M	84.91M	1.14B	0	0
Accounts Receivable	259.55M	264.53M	444.32M	423.17M	255.8M	166.05M	304.34M	217.18M	433.47M	309.57M
Days Sales Outstanding	34.39	39.71	75.19	73.84	50.12	33.67	75.31	42.44	61.14	36.03
Inventory	1.47B	1.46B	1.1B	557M	247.36M	769.8M	504.86M	822.61M	841.61M	972.25M
Days Inventory Outstanding	260.06	270.24	233.28	113.2	55.69	196.49	125.1	183.67	170.12	171.23
Other Current Assets	0	0	0	0	71M	65.83M	0	0	0	40.9M
Total Non-Current Assets+	6.61B	6.21B	5.64B	5.94B	4.33B	5.64B	5.38B	5.31B	8.09B	7.98B
Property, Plant & Equipment	5.23B	4.66B	4.19B	3.88B	2.87B	3.77B	3.58B	3.47B	3.37B	3.29B
Fixed Asset Turnover	0.53x	0.52x	0.51x	0.54x	0.65x	0.48x	0.41x	0.54x	0.77x	0.95x
Goodwill	122.31M	118.66M	0	0	0	0	0	0	0	0
Intangible Assets	94.82M	84.65M	70.01M	65.6M	46.59M	55.82M	51.25M	47.12M	43.58M	39.82M
Long-Term Investments	2.47M	0	0	230.5M	218.58M	219.69M	233.24M	210.97M	3.17B	3.22B
Other Non-Current Assets	449.24M	512.48M	520.07M	751.87M	462.2M	1.59B	577.53M	595.51M	613.77M	595.9M
Total Assets+	8.79B	8.25B	7.78B	8.02B	5.73B	7.58B	7.52B	8.63B	9.93B	9.91B
Asset Turnover	0.31x	0.29x	0.28x	0.26x	0.33x	0.24x	0.20x	0.22x	0.26x	0.32x
Asset Growth %	0.04%	-0.06%	-0.06%	0.03%	-0.29%	0.32%	-0.01%	0.15%	0.15%	-0%
Total Current Liabilities+	671.64M	469.25M	410.99M	875.88M	213.93M	303.78M	413.74M	560.84M	1.19B	1.19B
Accounts Payable	199.08M	213.48M	177.04M	123.22M	77.43M	137.19M	213.38M	249.96M	368.85M	129.83M
Days Payables Outstanding	35.32	39.6	37.56	25.04	17.43	35.02	52.87	55.81	74.56	22.87
Short-Term Debt	0	0	0	499.6M	3.06M	0	0	0	499.82M	287.03M
Deferred Revenue (Current)	0	0	0	1000K	0	0	0	0	0	0
Other Current Liabilities	472.55M	255.77M	233.95M	253.06M	128.59M	128.24M	69.16M	179.63M	87.66M	399.21M
Current Ratio	3.25x	4.35x	5.20x	2.38x	6.51x	6.40x	5.18x	5.92x	1.55x	1.62x
Quick Ratio	1.07x	1.25x	2.52x	1.74x	5.36x	3.87x	3.96x	4.46x	0.84x	0.80x
Cash Conversion Cycle	259.13	270.36	270.91	162.01	88.38	195.14	147.54	170.3	156.7	184.4
Total Non-Current Liabilities+	2.58B	2.52B	2.51B	2.15B	1.66B	2.32B	2.26B	2.24B	2.65B	2.36B
Long-Term Debt	1.49B	1.49B	1.49B	996.07M	768.63M	1B	996.25M	997M	1.28B	997.43M
Capital Lease Obligations	0	0	0	0	6.86M	7.95M	0	0	0	9.42M
Deferred Tax Liabilities	35.18M	15.94M	12.47M	0	0	0	0	0	0	0
Other Non-Current Liabilities	167.32M	138.93M	138.57M	1.15B	886.26M	1.31B	1.26B	1.24B	1.37B	1.35B
Total Liabilities	3.25B	2.99B	2.92B	3.03B	1.88B	2.62B	2.67B	2.8B	3.84B	3.54B
Total Debt+	1.49B	1.49B	1.49B	1.5B	778.55M	1.01B	996.25M	997M	1.78B	1.3B
Net Debt	1.03B	1.17B	902.85M	784.14M	-40.75M	91.16M	-251.2M	-146.67M	1.22B	695.55M
Debt / Equity	0.27x	0.28x	0.31x	0.30x	0.20x	0.20x	0.21x	0.17x	0.29x	0.20x
Debt / EBITDA	2.67x	5.96x	6.66x	3.11x	2.11x	7.08x	18.38x	5.18x	3.55x	1.57x
Net Debt / EBITDA	1.85x	4.68x	4.02x	1.63x	-0.11x	0.64x	-4.63x	-0.76x	2.42x	0.84x
Interest Coverage	2.54x	-1.49x	-1.34x	0.73x	1.10x	-1.36x	-2.24x	0.22x	3.07x	3.98x
Total Equity+	5.55B	5.26B	4.86B	4.99B	3.85B	4.96B	4.85B	5.84B	6.09B	6.36B
Equity Growth %	0.02%	-0.05%	-0.08%	0.03%	-0.23%	0.29%	-0.02%	0.2%	0.04%	0.04%
Book Value per Share	14.01	13.29	12.28	12.61	9.73	12.53	12.19	14.33	14.00	14.60
Total Shareholders' Equity	5.55B	5.26B	4.86B	4.99B	3.85B	4.96B	4.85B	5.84B	6.09B	6.36B
Common Stock	1.86B	1.86B	1.86B	1.86B	1.44B	1.87B	1.9B	2.88B	2.91B	2.94B
Retained Earnings	3.24B	3.02B	2.65B	2.79B	2.18B	2.74B	2.64B	2.7B	2.98B	3.1B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.94B	-4.52B	-4.95B	-5.13B	55.29M	115.46M	0	0	0	118.89M
Minority Interest	-1.74M	157K	371K	310K	183.53K	206K	127K	11K	4K	26K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	450.01M	312.38M	596.05M	667.52M	350.52M	-6.8M	458.29M	304.61M	688.14M	905.29M
Operating CF Margin %	0.16%	0.13%	0.28%	0.32%	0.19%	-0%	0.31%	0.16%	0.27%	0.29%
Operating CF Growth %	-0.06%	-0.31%	0.91%	0.12%	-0.47%	-1.02%	68.44%	-0.34%	1.26%	0.32%
Net Income	63.36M	-59.88M	-204.72M	166.24M	57.07M	-41.73M	-102.65M	89.26M	360.85M	171.84M
Depreciation & Amortization	312.52M	371.69M	330.35M	327.97M	230.67M	193.84M	190.41M	177.38M	220.32M	316.94M
Stock-Based Compensation	16.85M	14.1M	13.96M	14.98M	0	0	4.54M	3.32M	3.69M	48.86M
Deferred Taxes	-142.63M	-94.36M	-2.52M	-126.31M	40.35M	14.67M	-1.2M	-4.47M	126.34M	0
Other Non-Cash Items	281.04M	160.25M	382.87M	74.92M	-51.96M	-22.15M	56.71M	149.47M	3.5M	441.27M
Working Capital Changes	-81.13M	-79.43M	76.11M	209.72M	74.4M	-151.43M	310.48M	-110.36M	-26.57M	-73.63M
Change in Receivables	216.27M	1.53M	-174.61M	-44.35M	45.1M	112.81M	-75.68M	99.6M	-242.42M	78.56M
Change in Inventory	-285.17M	-62.97M	315.42M	293.69M	87.44M	-295.85M	294.4M	-226.36M	38.39M	-111.53M
Change in Payables	-12.22M	-17.99M	-64.69M	-39.62M	-48M	28.66M	0	0	169.04M	0
Cash from Investing+	-340.81M	-217.82M	-93.05M	-411.63M	337.31M	-79.3M	-80.3M	-1.29B	-2.04B	-206.44M
Capital Expenditures	-358.56M	-216.91M	-114.03M	-55.36M	-58M	-60.8M	-98.78M	-143.45M	-153.63M	-211.63M
CapEx % of Revenue	0.13%	0.09%	0.05%	0.03%	0.03%	0.03%	0.07%	0.08%	0.06%	0.07%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	17.75M	-912K	20.97M	34.76M	93.24M	711.93K	78.41M	-1.22M	1.14B	5.19M
Cash from Financing+	-227.83M	-228.76M	-227.79M	-144.2M	-412.13M	-25.46M	-46.77M	869.26M	748.81M	-688.42M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-158.31M	-158.31M	-158.3M	-71.22M	-24.38M	-24.83M	-31.84M	-51.9M	-52.08M	-69.64M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-69.51M	-70.45M	-69.5M	-72.98M	-2.24M	-2.92M	-38.98M	-38.86M	-40.8M	-88.82M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	91.45M	95.47M	482.02M	612.15M	292.52M	-67.6M	359.5M	161.16M	534.5M	693.65M
FCF Margin %	0.03%	0.04%	0.22%	0.29%	0.16%	-0.04%	0.24%	0.09%	0.21%	0.22%
FCF Growth %	1234.78%	0.04%	4.05%	0.27%	-0.52%	-1.23%	6.32%	-0.55%	2.32%	0.3%
FCF per Share	0.23	0.24	1.22	1.55	0.74	-0.17	0.90	0.40	1.23	1.59
FCF Conversion (FCF/Net Income)	6.89x	-5.07x	-2.91x	4.01x	4.74x	0.13x	-4.47x	3.41x	1.91x	5.27x
Interest Paid	0	0	0	0	0	0	0	0	0	88.82M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	1.19%	-1.14%	-4.05%	3.38%	1.67%	-1.21%	-2.09%	1.67%	6.05%	2.76%
Return on Invested Capital (ROIC)	2.85%	-1.63%	-1.57%	0.91%	1.45%	-1.33%	-2.12%	0.22%	3.26%	5.32%
Gross Margin	25.31%	19.06%	20.23%	14.14%	12.97%	20.56%	0.13%	12.49%	30.22%	33.91%
Net Margin	2.37%	-2.53%	-9.5%	7.95%	3.97%	-2.95%	-6.95%	4.78%	13.94%	5.48%
Debt / Equity	0.27x	0.28x	0.31x	0.30x	0.20x	0.20x	0.21x	0.17x	0.29x	0.20x
Interest Coverage	2.54x	-1.49x	-1.34x	0.73x	1.10x	-1.36x	-2.24x	0.22x	3.07x	3.98x
FCF Conversion	6.89x	-5.07x	-2.91x	4.01x	4.74x	0.13x	-4.47x	3.41x	1.91x	5.27x
Revenue Growth	14.88%	-11.73%	-11.29%	-3.02%	-10.94%	-3.37%	-18.06%	26.65%	38.53%	21.18%

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2024
United States	1.69B	1.66B	1.3B	1.18B	770.26M	873.47M	640.02M
United States Growth	-	-1.90%	-22.01%	-9.07%	-34.60%	13.40%	-26.73%
Canada	316.61M	424.08M	567.73M	622.32M	704.72M	994.53M	-
Canada Growth	-	33.94%	33.87%	9.61%	13.24%	41.12%	-
Switzerland	-	4.04M	-	-	-	-	-
Switzerland Growth	-	-	-	-	-	-	-
Germany	147.31M	2.82M	-	-	-	-	-
Germany Growth	-	-98.09%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Cameco Corporation (CCJ) has a price-to-earnings (P/E) ratio of 289.3x. This suggests investors expect higher future growth.

Growth & Financials

Cameco Corporation (CCJ) reported $3.46B in revenue for fiscal year 2024. This represents a 45% increase from $2.38B in 2011.

Cameco Corporation (CCJ) grew revenue by 21.2% over the past year. This is strong growth.

Yes, Cameco Corporation (CCJ) is profitable, generating $526.0M in net income for fiscal year 2024 (5.5% net margin).

Dividend & Returns

Yes, Cameco Corporation (CCJ) pays a dividend with a yield of 0.14%. This makes it attractive for income-focused investors.

Cameco Corporation (CCJ) has a return on equity (ROE) of 2.8%. This is below average, suggesting room for improvement.

Cameco Corporation (CCJ) generated $972.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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