Latest Ratios: P/E Ratio 30.8x · EV/EBITDA 302.6x · ROE 16.8%. (1998–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0B | $4.8B | $1.1B | $843M | $487M | $693M | $234M | $66M | $15M | $36M | $58M |
| Enterprise Value | $1.2B | $4.1B | $936M | $819M | $477M | $633M | $199M | $58M | $45M | $-8785190 | $31M |
| P/E Ratio → | 30.76 | 62.25 | 14.90 | 10.00 | 9.61 | 5.12 | 40.58 | — | — | 6.91 | — |
| P/S Ratio | 4.36 | 10.78 | 2.47 | 2.63 | 1.66 | 2.32 | 0.95 | 0.31 | 0.08 | 0.17 | 0.19 |
| P/B Ratio | 2.72 | 6.32 | 6.76 | 26.11 | — | — | — | — | — | — | — |
| P/FCF | — | 154.54 | 33.15 | 112.45 | 24.46 | 14.19 | 3.56 | 5.88 | — | — | 1.67 |
| P/OCF | 38.87 | 94.84 | 29.48 | 92.68 | 23.63 | 13.85 | 3.49 | 5.82 | — | — | 1.54 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.13 | 2.12 | 2.56 | 1.62 | 2.12 | 0.80 | 0.28 | 0.24 | -0.04 | 0.10 |
| EV / EBITDA | 302.57 | 68.14 | 15.93 | 13.77 | 6.88 | 8.23 | 3.41 | — | — | — | — |
| EV / EBIT | 24.71 | 40.99 | 12.37 | 9.55 | 6.98 | 4.66 | 3.74 | — | — | -0.50 | — |
| EV / FCF | — | 130.83 | 28.46 | 109.24 | 23.96 | 12.97 | 3.02 | 5.16 | — | — | 0.91 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.2% | 26.2% | 25.2% | 35.0% | 40.1% | 38.4% | 39.5% | 15.5% | -9.3% | 26.0% | 14.5% |
| Operating Margin | 11.2% | 11.2% | 10.9% | 16.4% | 20.3% | 22.9% | 20.6% | -9.4% | -47.9% | -8.0% | -19.8% |
| Net Profit Margin | 17.3% | 17.3% | 16.6% | 26.4% | 17.8% | 58.7% | 22.0% | -7.9% | -53.9% | 5.6% | -21.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.8% | 16.8% | 75.6% | 261.3% | — | — | — | — | — | — | — |
| ROA | 4.4% | 4.4% | 7.7% | 11.2% | 8.2% | 33.1% | 11.5% | -3.2% | -16.7% | 1.8% | -8.7% |
| ROIC | 248.5% | 248.5% | 467.5% | 479.3% | — | — | — | — | — | — | — |
| ROCE | 3.6% | 3.6% | 8.9% | 18.0% | 27.4% | 45.6% | 42.6% | -15.6% | -45.6% | -5.3% | -14.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.59 | 1.59 | 3.39 | 5.48 | — | — | — | — | — | — | — |
| Debt / EBITDA | 20.22 | 20.22 | 9.31 | 2.98 | 2.45 | 1.75 | 2.00 | — | — | — | — |
| Net Debt / Equity | — | -0.97 | -0.96 | -0.75 | — | — | — | — | — | — | — |
| Net Debt / EBITDA | -12.35 | -12.35 | -2.62 | -0.41 | -0.15 | -0.78 | -0.61 | — | — | — | — |
| Debt / FCF | — | -23.71 | -4.69 | -3.21 | -0.51 | -1.22 | -0.54 | -0.71 | — | — | -0.77 |
| Interest Coverage | 7.14 | 7.14 | 28.04 | 66.00 | 136.60 | 1360.00 | 531.00 | -4.40 | -24.39 | 3.28 | -2.43 |
Net cash position: cash ($2.0B) exceeds total debt ($1.2B)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.59 | 5.59 | 2.74 | 1.45 | 1.31 | 1.18 | 1.11 | 1.10 | 1.10 | 1.41 | 1.72 |
| Quick Ratio | 4.83 | 4.83 | 2.28 | 0.80 | 0.84 | 0.95 | 0.93 | 0.91 | 0.81 | 1.03 | 1.18 |
| Cash Ratio | 4.63 | 4.63 | 2.02 | 0.43 | 0.40 | 0.49 | 0.42 | 0.39 | 0.28 | 0.52 | 0.80 |
| Asset Turnover | — | 0.18 | 0.40 | 0.40 | 0.42 | 0.52 | 0.51 | 0.46 | 0.34 | 0.32 | 0.44 |
| Inventory Turnover | 1.03 | 1.03 | 2.05 | 0.68 | 0.84 | 2.02 | 2.31 | 2.75 | 1.63 | 1.06 | 1.50 |
| Days Sales Outstanding | — | 24.97 | 66.06 | 56.31 | 47.33 | 35.61 | 43.71 | 36.73 | 113.85 | 100.61 | 23.33 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 1.6% | 6.7% | 10.0% | 10.4% | 19.5% | 2.5% | — | — | 14.5% | — |
| FCF Yield | — | 0.6% | 3.0% | 0.9% | 4.1% | 7.0% | 28.1% | 17.0% | — | — | 59.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $20M | $16M | $16M | $15M | $14M | $10M | $10M | $9M | $9M | $9M |
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying LEU stock.
Centrus Energy Corp.'s current P/E ratio is 30.8x. The historical average is 27.6x. This places it at the 67th percentile of its historical range.
Centrus Energy Corp.'s current EV/EBITDA is 302.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.0x.
Centrus Energy Corp.'s return on equity (ROE) is 16.8%. The historical average is 21.6%.
Based on historical data, Centrus Energy Corp. is trading at a P/E of 30.8x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Centrus Energy Corp. has 26.2% gross margin and 11.2% operating margin. Operating margin between 10-20% is typical for established companies.
Centrus Energy Corp.'s Debt/EBITDA ratio is 20.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Capex ramp and Russian supply exposure
Metrics are mathematically derived from official filings.
Premium Multiples Pricing Expansion Optionality
Based on LEU's reported figures, a trailing P/E of 26.82 and forward P/E of 43.58 imply the market is pricing in substantial earnings growth that trailing revenue growth of roughly 1.5% does not yet demonstrate.
The forward P/E sitting well above the trailing multiple suggests investors expect earnings to rise sharply as new centrifuge capacity comes online, though the PEG of 0.57 appears to rely on that growth materializing. Against an EV/EBITDA of 20.64 and P/FCF of 63.34, the valuation looks demanding on current cash generation, which is negative. Investors should monitor whether the scarcity premium for HALEU capacity holds, since the uranium peer group shown trades on negative earnings and offers no clean multiple benchmark.
Margins Swing Too Widely to Anchor Earning Power
According to recent SEC filings, LEU's operating margin moved from 28.0% in early 2025 to negative 53.5% in the latest quarter, with gross margin ranging from negative 19.1% to 45.0%, leaving no stable profitability baseline.
This volatility appears driven by shipment timing and the spread between legacy procurement costs and contract pricing rather than a steady demand trend. Fixed overhead deleverages sharply when gross profit compresses, which suggests the cost base is heavier than current revenue volume supports. Net margin of 56.9% in the latest quarter appears inflated by non-operating items relative to the operating loss, so operating margin is the more reliable gauge of earning power here.
Debt Stabilized but Structurally Elevated
As reported in financial statements, LEU's debt-to-equity fell from a peak above 3.3 to 1.07 in 2026Q3, yet total debt near $1.2B against a D/EBITDA that is not meaningful on recent figures keeps leverage a live concern.
The decline in debt-to-equity reflects equity growth and stable debt rather than deleveraging, which means absolute obligations remain large relative to operating earnings. Interest coverage has swung from 124.67 to negative 58.00 across recent quarters, indicating that debt service comfort depends heavily on which quarter is observed. Refinancing and covenant terms are not disclosed in the supplied data, so the risk profile warrants further investigation rather than a firm conclusion.
Cash Pile Overstates Freely Usable Liquidity
Based on the supplied figures, LEU's current ratio of 8.61 and $2.2B cash balance appear very strong, but a quick ratio of 7.99 and customer prepayments suggest much of this liquidity may be committed rather than free.
The current ratio is elevated largely because of cash that may be tied to advances and government funding, which are performance obligations rather than spendable reserves. Inventory dependence is low given the quick ratio tracks the current ratio closely, so the liquidity question centers on the nature of the cash rather than its composition. Under a severe stress scenario, the true cushion would depend on how much of the balance is restricted, a detail the supplied data does not resolve.
Working Capital Cycle Lengthening Sharply
Based on LEU's reported figures, the cash conversion cycle expanded from 131 days in 2024Q2 to 303 days in 2026Q3, driven by inventory days that rose to 386 while payables days stayed near 126.
A lengthening cycle this pronounced suggests inventory build ahead of deliveries and extended receivable or prepayment timing, consistent with the working capital drain seen in recent cash flow results. Asset turnover has compressed to 0.02 in the latest quarter, indicating the expanded asset base is not yet generating revenue proportionally. Investors should monitor whether inventory conversion accelerates once centrifuge output reaches commercial scale.
Net Margin Is the Wrong Yardstick Here
Net margin is most commonly misapplied to LEU because reported net income of $31.6M against an operating loss of $29.7M shows non-operating items can dominate the figure, making it an unreliable proxy for earning power.
For an enrichment business with lumpy delivery timing and large prepayment balances, net margin can swing on interest income, tax effects, and non-recurring items unrelated to SWU economics. Operating margin, adjusted for prepayment timing, or free cash flow conversion would better reflect the underlying economics. Relying on net margin risks overstating profitability in quarters where cash generation is negative.