Centrus Energy Corp. (LEU) 10-Year Financial Performance & Capital Metrics

LEU • • Industrial / General

EnergyUraniumIntegrated Uranium ProducersMajor Integrated Producers

AboutCentrus Energy Corp. supplies nuclear fuel and services for the nuclear power industry in the United States, Japan, Belgium, and internationally. The company operates through two segments, Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment sells separative work units (SWU) component of LEU; SWU and natural uranium components of LEU; and natural uranium for utilities that operate nuclear power plants. The Technical Solutions segment offers technical, manufacturing, engineering, procurement, construction, and operations services to public and private sector customers, including the American Centrifuge engineering and testing activities. The company was formerly known as USEC Inc. and changed its name to Centrus Energy Corp. in September 2014. Centrus Energy Corp. was incorporated in 1998 and is headquartered in Bethesda, Maryland.Show more

Revenue $442M +38.0%
EBITDA $59M -1.2%
Net Income $73M -13.3%
EPS (Diluted) 4.47 -17.8%
Gross Margin 25.23% -27.9%
EBITDA Margin 13.3% -28.4%
Operating Margin 10.86% -33.6%
Net Margin 16.56% -37.2%
ROE 75.58% -71.1%
ROIC -
Debt/Equity 0.97 -82.0%
Interest Coverage 17.78 -55.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 168.4%
✓Momentum leader: RS Rating 94 (top 6%)
✓Strong 5Y sales CAGR of 16.1%
✓Healthy 5Y average net margin of 28.3%

✗Weaknesses

✗Trading more than 30% below 52-week high
✗Expensive at 31.1x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-1.5%

5Y16.08%

3Y14%

TTM15.25%

Profit (Net Income) CAGR

10Y-13.09%

5Y-

3Y-25.21%

TTM50%

EPS CAGR

10Y-19.92%

5Y-

3Y-22.89%

TTM37.37%

ROCE

10Y Avg3.31%

5Y Avg28.53%

3Y Avg18.14%

Latest8.96%

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+	418.2M	311.3M	218.4M	193M	209.7M	247.2M	298.3M	293.8M	320.2M	442M
Revenue Growth %	-0.19%	-0.26%	-0.3%	-0.12%	0.09%	0.18%	0.21%	-0.02%	0.09%	0.38%
Cost of Goods Sold+	349.3M	266.2M	161.6M	210.9M	177.2M	149.6M	183.8M	175.9M	208.1M	330.5M
COGS % of Revenue	0.84%	0.86%	0.74%	1.09%	0.85%	0.61%	0.62%	0.6%	0.65%	0.75%
Gross Profit+	68.9M	45.1M	56.8M	-17.9M	32.5M	97.6M	114.5M	117.9M	112.1M	111.5M
Gross Margin %	0.16%	0.14%	0.26%	-0.09%	0.15%	0.39%	0.38%	0.4%	0.35%	0.25%
Gross Profit Growth %	2.67%	-0.35%	0.26%	-1.32%	2.82%	2%	0.17%	0.03%	-0.05%	-0.01%
Operating Expenses+	89M	108M	78.9M	72.6M	52.2M	46.6M	46.2M	58.2M	59.7M	63.5M
OpEx % of Revenue	0.21%	0.35%	0.36%	0.38%	0.25%	0.19%	0.15%	0.2%	0.19%	0.14%
Selling, General & Admin	42.6M	46.2M	43.1M	39.9M	33.7M	36M	36M	33.9M	35.6M	36.2M
SG&A % of Revenue	0.1%	0.15%	0.2%	0.21%	0.16%	0.15%	0.12%	0.12%	0.11%	0.08%
Research & Development	33M	47.9M	15.7M	26.1M	0	0	0	0	0	0
R&D % of Revenue	0.08%	0.15%	0.07%	0.14%	-	-	-	-	-	-
Other Operating Expenses	13.4M	12.5M	10.6M	-10.6M	18.5M	10.6M	10.2M	24.3M	24.1M	27.3M
Operating Income+	-168.4M	-61.7M	-17.5M	-92.4M	-19.7M	51M	68.3M	59.7M	52.4M	48M
Operating Margin %	-0.4%	-0.2%	-0.08%	-0.48%	-0.09%	0.21%	0.23%	0.2%	0.16%	0.11%
Operating Income Growth %	-0.49%	0.63%	0.72%	-4.28%	0.79%	3.59%	0.34%	-0.13%	-0.12%	-0.08%
EBITDA+	-154.6M	-48.6M	-5.5M	-85M	-12.7M	58.3M	76.9M	69.3M	59.5M	58.8M
EBITDA Margin %	-0.37%	-0.16%	-0.03%	-0.44%	-0.06%	0.24%	0.26%	0.24%	0.19%	0.13%
EBITDA Growth %	-0.49%	0.69%	0.89%	-14.45%	0.85%	5.59%	0.32%	-0.1%	-0.14%	-0.01%
D&A (Non-Cash Add-back)	13.8M	13.1M	12M	7.4M	7M	7.3M	8.6M	9.6M	7.1M	10.8M
EBIT	-168.1M	-47.9M	17.4M	-100M	-13.2M	53.1M	136M	68.3M	85.8M	75.7M
Net Interest Income+	-19.3M	-19.7M	-4M	-4.1M	-3M	-100K	-100K	-500K	-1.3M	-2.7M
Interest Income	300K	0	1.3M	0	0	0	0	0	0	0
Interest Expense	19.6M	19.7M	5.3M	4.1M	3M	100K	100K	500K	1.3M	2.7M
Other Income/Expense	-19.3M	-5.9M	-1.6M	-11.7M	3.5M	2M	67.6M	8.1M	32.1M	25M
Pretax Income+	-187.7M	-67.6M	12.1M	-104.1M	-16.2M	53M	135.9M	67.8M	84.5M	73M
Pretax Margin %	-0.45%	-0.22%	0.06%	-0.54%	-0.08%	0.21%	0.46%	0.23%	0.26%	0.17%
Income Tax+	-300K	-600K	-100K	0	300K	-1.4M	-39.1M	15.6M	100K	-200K
Effective Tax Rate %	1%	0.99%	1.01%	1%	1.02%	1.03%	1.29%	0.77%	1%	1%
Net Income+	-187.4M	-67M	12.2M	-104.1M	-16.5M	54.4M	175M	52.2M	84.4M	73.2M
Net Margin %	-0.45%	-0.22%	0.06%	-0.54%	-0.08%	0.22%	0.59%	0.18%	0.26%	0.17%
Net Income Growth %	-1.63%	0.64%	1.18%	-9.53%	0.84%	4.3%	2.22%	-0.7%	0.62%	-0.13%
Net Income (Continuing)	-187.4M	-67M	12.2M	-104.1M	-16.5M	54.4M	175M	52.2M	84.4M	73.2M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-20.82	-7.36	0.58	-11.38	-1.72	5.37	9.75	3.38	5.44	4.47
EPS Growth %	-1.5%	0.65%	1.08%	-20.62%	0.85%	4.12%	0.82%	-0.65%	0.61%	-0.18%
EPS (Basic)	-20.82	-7.36	0.58	-11.38	-1.72	5.54	10.03	3.47	5.55	4.49
Diluted Shares Outstanding	9M	9.1M	9.08M	9.15M	9.57M	10.12M	13.88M	14.99M	15.5M	16.37M
Basic Shares Outstanding	9M	9.1M	9.08M	9.15M	9.57M	9.82M	13.49M	14.6M	15.21M	16.31M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

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+	658M	560.6M	566.9M	484.5M	369.6M	406.1M	465.9M	587.1M	685.4M	1.02B
Cash & Short-Term Investments	234M	260.7M	208.8M	123.1M	130.7M	152M	193.8M	179.9M	201.2M	671.4M
Cash Only	234M	260.7M	208.8M	123.1M	130.7M	152M	193.8M	179.9M	201.2M	671.4M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	26.5M	19.9M	60.2M	60.2M	21.1M	29.6M	29.1M	38.1M	49.4M	80M
Days Sales Outstanding	23.13	23.33	100.61	113.85	36.73	43.71	35.61	47.33	56.31	66.06
Inventory	319.2M	177.4M	153.1M	129.7M	64.5M	64.8M	91.1M	209.2M	306.4M	161.6M
Days Inventory Outstanding	333.55	243.24	345.8	224.47	132.86	158.1	180.91	434.1	537.41	178.47
Other Current Assets	78.3M	102.6M	144.8M	171.5M	153.1M	159.7M	151.9M	159.9M	128.4M	102.2M
Total Non-Current Assets+	162.7M	152.9M	108.4M	87.2M	86.3M	80.2M	106.5M	118.4M	110.8M	480.7M
Property, Plant & Equipment	3.5M	6M	4.9M	4.2M	3.7M	4.9M	5.3M	5.5M	7M	9.4M
Fixed Asset Turnover	119.49x	51.88x	44.57x	45.95x	56.68x	50.45x	56.28x	53.42x	45.74x	47.02x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	105.8M	93.3M	82.7M	76M	69.5M	62.8M	54.7M	45.7M	39.4M	432.1M
Long-Term Investments	23M	22.8M	19.7M	6.3M	0	0	0	0	0	0
Other Non-Current Assets	53.4M	53.6M	-18.1M	-16.8M	13.1M	10.6M	5.1M	40.4M	35.9M	9.9M
Total Assets+	820.7M	713.5M	675.3M	571.7M	455.9M	486.3M	572.4M	705.5M	796.2M	1.09B
Asset Turnover	0.51x	0.44x	0.32x	0.34x	0.46x	0.51x	0.52x	0.42x	0.40x	0.40x
Asset Growth %	-0.31%	-0.13%	-0.05%	-0.15%	-0.2%	0.07%	0.18%	0.23%	0.13%	0.37%
Total Current Liabilities+	350.3M	325.7M	403.4M	438.7M	336.8M	366.1M	393.3M	449.2M	471.1M	346.8M
Accounts Payable	5.4M	11.5M	6.3M	3.9M	7M	4.9M	4.9M	5.9M	6.1M	5.8M
Days Payables Outstanding	5.64	15.77	14.23	6.75	14.42	11.96	9.73	12.24	10.7	6.41
Short-Term Debt	0	0	6.1M	32.8M	6.1M	6.1M	6.1M	16M	20.4M	45.9M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	142.4M	101.3M	82M	111M	32.9M	38.7M	38.5M	83.8M	87.5M	45.6M
Current Ratio	1.88x	1.72x	1.41x	1.10x	1.10x	1.11x	1.18x	1.31x	1.45x	2.93x
Quick Ratio	0.97x	1.18x	1.03x	0.81x	0.91x	0.93x	0.95x	0.84x	0.80x	2.46x
Cash Conversion Cycle	351.03	250.81	432.18	331.57	155.17	189.85	206.79	469.19	583.03	238.13
Total Non-Current Liabilities+	636.1M	623.9M	490.8M	454.9M	456M	440.8M	321M	330.4M	292.8M	585.2M
Long-Term Debt	247M	234.1M	157.5M	120.2M	114.1M	108M	124.2M	144.4M	152.7M	109.7M
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	0	0	19.5M	107.6M	0	0	0	0	0	0
Other Non-Current Liabilities	388.5M	389.8M	333.3M	319.7M	312.5M	287.6M	151.7M	139.8M	140.1M	475.5M
Total Liabilities	986.4M	949.6M	894.2M	893.6M	792.8M	806.9M	714.3M	779.6M	763.9M	932M
Total Debt+	247.6M	234.1M	157.5M	153M	122.7M	116.5M	131.2M	163.7M	174.5M	157M
Net Debt	13.6M	-26.6M	-51.3M	29.9M	-8M	-35.5M	-62.6M	-16.2M	-26.7M	-514.4M
Debt / Equity	-	-	-	-	-	-	-	-	5.40x	0.97x
Debt / EBITDA	-	-	-	-	-	2.00x	1.71x	2.36x	2.93x	2.67x
Net Debt / EBITDA	-	-	-	-	-	-0.61x	-0.81x	-0.23x	-0.45x	-8.75x
Interest Coverage	-8.59x	-3.13x	-3.30x	-22.54x	-6.57x	510.00x	683.00x	119.40x	40.31x	17.78x
Total Equity+	-165.7M	-236.1M	-218.9M	-321.9M	-336.9M	-320.6M	-141.9M	-74.1M	32.3M	161.4M
Equity Growth %	-8.67%	-0.42%	0.07%	-0.47%	-0.05%	0.05%	0.56%	0.48%	1.44%	4%
Book Value per Share	-18.41	-25.95	-24.11	-35.18	-35.22	-31.67	-10.22	-4.94	2.08	9.86
Total Shareholders' Equity	-165.7M	-236.1M	-218.9M	-321.9M	-336.9M	-320.6M	-141.9M	-74.1M	32.3M	161.4M
Common Stock	900K	900K	900K	900K	900K	1.2M	1.5M	1.5M	1.6M	1.7M
Retained Earnings	-229.7M	-296.7M	-284.5M	-388.5M	-405M	-407.7M	-284.6M	-233.9M	-149.5M	-76.3M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	4.1M	200K	100K	-100K	1.1M	800K	500K	200K	-300K	-500K
Minority Interest	0	0	0	0	0	0	0	0	0	0

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+	8.5M	37.7M	-25.1M	-74.4M	11.3M	67.1M	50M	20.6M	9.1M	37M
Operating CF Margin %	0.02%	0.12%	-0.11%	-0.39%	0.05%	0.27%	0.17%	0.07%	0.03%	0.08%
Operating CF Growth %	1.08%	3.44%	-1.67%	-1.96%	1.15%	4.94%	-0.25%	-0.59%	-0.56%	3.07%
Net Income	-187.4M	-67M	12.2M	-104.1M	-16.5M	54.4M	175M	52.2M	84.4M	73.2M
Depreciation & Amortization	13.8M	13.1M	12M	7.4M	7M	7.3M	8.6M	9.6M	7.1M	10.8M
Stock-Based Compensation	400K	500K	500K	400K	0	7.1M	12.1M	1.9M	2.3M	1.5M
Deferred Taxes	0	0	0	0	0	-1.9M	-39.5M	14.7M	-1.6M	-700K
Other Non-Cash Items	110.9M	-3.8M	-61.1M	18.1M	17M	-3.4M	-52.9M	35.3M	-38.8M	-15.1M
Working Capital Changes	71.2M	95.4M	11.8M	4.2M	3.8M	3.6M	-53.3M	-93.1M	-44.3M	-32.7M
Change in Receivables	29.3M	6.5M	-17.6M	9.7M	29.3M	-8.6M	500K	-9M	-11.3M	-30.5M
Change in Inventory	90.9M	89.5M	44.7M	61M	100K	25.8M	-10.7M	-88.5M	-60.3M	2.1M
Change in Payables	-1.8M	10.4M	-43.8M	3.7M	-12.3M	-5.2M	-4.6M	2.6M	8.5M	-1.4M
Cash from Investing+	6.7M	-1.2M	4.2M	400K	600K	-1.4M	-1.2M	-700K	-1.6M	-4.1M
Capital Expenditures	-300K	-3M	-500K	-100K	-100K	-1.4M	-1.2M	-700K	-1.6M	-4.1M
CapEx % of Revenue	0%	0.01%	0%	0%	0%	0.01%	0%	0%	0%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	7M	1.8M	4.7M	500K	700K	0	0	0	0	0
Cash from Financing+	0	-9.8M	-31M	-11.1M	-35M	-44.4M	-9.9M	-4.3M	13.9M	437.1M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	-9M	-6.1M	-7.5M	-5.9M	-7.6M	-7.9M	-9.3M	-6.3M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	8.2M	34.7M	-25.6M	-74.5M	11.2M	65.7M	48.8M	19.9M	7.5M	32.9M
FCF Margin %	0.02%	0.11%	-0.12%	-0.39%	0.05%	0.27%	0.16%	0.07%	0.02%	0.07%
FCF Growth %	1.07%	3.23%	-1.74%	-1.91%	1.15%	4.87%	-0.26%	-0.59%	-0.62%	3.39%
FCF per Share	0.91	3.81	-2.82	-8.14	1.17	6.49	3.52	1.33	0.48	2.01
FCF Conversion (FCF/Net Income)	-0.05x	-0.56x	-2.06x	0.71x	-0.68x	1.23x	0.29x	0.39x	0.11x	0.51x
Interest Paid	12.2M	0	0	0	1.5M	0	0	0	0	6.1M
Taxes Paid	300K	0	0	0	0	0	0	0	0	700K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	-	-	-	-	-	261.3%	75.58%
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-	-	701.79%	-
Gross Margin	16.48%	14.49%	26.01%	-9.27%	15.5%	39.48%	38.38%	40.13%	35.01%	25.23%
Net Margin	-44.81%	-21.52%	5.59%	-53.94%	-7.87%	22.01%	58.67%	17.77%	26.36%	16.56%
Debt / Equity	-	-	-	-	-	-	-	-	5.40x	0.97x
Interest Coverage	-8.59x	-3.13x	-3.30x	-22.54x	-6.57x	510.00x	683.00x	119.40x	40.31x	17.78x
FCF Conversion	-0.05x	-0.56x	-2.06x	0.71x	-0.68x	1.23x	0.29x	0.39x	0.11x	0.51x
Revenue Growth	-18.65%	-25.56%	-29.84%	-11.63%	8.65%	17.88%	20.67%	-1.51%	8.99%	38.04%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Product	-	-	-	-	-	-	-	269M	349.9M
Product Growth	-	-	-	-	-	-	-	-	30.07%
Separative Work Units	-	195.4M	130.6M	123.7M	151.5M	163.3M	196.2M	208.2M	246.8M
Separative Work Units Growth	-	-	-33.16%	-5.28%	22.47%	7.79%	20.15%	6.12%	18.54%
Uranium	-	-	33.8M	45.7M	39M	22.8M	39.4M	60.8M	103.1M
Uranium Growth	-	-	-	35.21%	-14.66%	-41.54%	72.81%	54.31%	69.57%
Service	-	-	28.6M	40.3M	56.7M	112.2M	58.2M	-	-
Service Growth	-	-	-	40.91%	40.69%	97.88%	-48.13%	-	-
Low Enriched Uranium	272.8M	-	-	-	-	-	-	-	-
Low Enriched Uranium Growth	-	-	-	-	-	-	-	-	-
Contract Services	38.5M	-	-	-	-	-	-	-	-
Contract Services Growth	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	112.1M	171.7M	220.5M	154.3M	281.6M	253.4M
UNITED STATES Growth	-	-	-	-	53.17%	28.42%	-30.02%	82.50%	-10.01%
JAPAN	-	-	3.1M	23.4M	23.4M	34.6M	61.6M	23.6M	117.2M
JAPAN Growth	-	-	-	654.84%	0.00%	47.86%	78.03%	-61.69%	396.61%
NETHERLANDS	-	-	-	-	-	-	-	-	42.4M
NETHERLANDS Growth	-	-	-	-	-	-	-	-	-
Other	-	-	-	-	16.3M	6.6M	39.6M	14.9M	29M
Other Growth	-	-	-	-	-	-59.51%	500.00%	-62.37%	94.63%
BELGIUM	-	-	35.2M	21.5M	35.8M	36.6M	38.3M	100K	-
BELGIUM Growth	-	-	-	-38.92%	66.51%	2.23%	4.64%	-99.74%	-
Non-US	-	-	51.7M	-	-	-	-	-	-
Non-US Growth	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Centrus Energy Corp. (LEU) has a price-to-earnings (P/E) ratio of 68.5x. This suggests investors expect higher future growth.

Growth & Financials

Centrus Energy Corp. (LEU) reported $454.1M in revenue for fiscal year 2024. This represents a 73% decrease from $1.67B in 2011.

Centrus Energy Corp. (LEU) grew revenue by 38.0% over the past year. This is strong growth.

Yes, Centrus Energy Corp. (LEU) is profitable, generating $113.7M in net income for fiscal year 2024 (16.6% net margin).

Dividend & Returns

Centrus Energy Corp. (LEU) has a return on equity (ROE) of 75.6%. This is excellent, indicating efficient use of shareholder capital.

Centrus Energy Corp. (LEU) generated $146.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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