Latest Ratios: P/E Ratio -30.6x · EV/EBITDA N/A · ROE -14.1%. (2000–2025 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 | $2.8B | $3.4B | $882M | $1.2B | $977M | $1.1B | $516M | $183M | $238M | $127M | $93M |
| Enterprise Value | $3.4B | $4.0B | $846M | $1.1B | $916M | $1.0B | $497M | $188M | $239M | $136M | $105M |
| P/E Ratio → | -30.59 | — | — | 11.60 | — | — | — | — | — | — | — |
| P/S Ratio | 42.92 | 51.33 | 11.29 | 30.36 | 78.07 | 358.79 | 311.32 | 31.15 | 7.50 | 4.09 | 1.70 |
| P/B Ratio | 3.86 | 4.96 | 1.66 | 3.04 | 4.00 | 3.87 | 3.28 | 1.40 | 1.64 | 1.00 | 0.67 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
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 | — | 60.59 | 10.83 | 28.88 | 73.16 | 323.59 | 299.62 | 32.02 | 7.54 | 4.37 | 1.93 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | 10.95 | — | 685.97 | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
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 | 7.7% | 7.7% | 21.8% | 41.7% | -1.2% | -97.5% | 100.0% | -244.9% | 39.8% | 21.3% | 17.4% |
| Operating Margin | -153.4% | -153.4% | -47.6% | -85.3% | -359.1% | -1112.6% | -1485.3% | -691.9% | -67.2% | -78.5% | -68.9% |
| Net Profit Margin | -129.9% | -129.9% | -61.1% | 263.3% | -478.2% | 48.4% | -1675.3% | -647.5% | -79.6% | -89.4% | -72.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -14.1% | -14.1% | -10.5% | 32.0% | -22.2% | 0.7% | -19.3% | -27.6% | -18.6% | -20.9% | -28.4% |
| ROA | -8.5% | -8.5% | -9.4% | 29.5% | -20.3% | 0.6% | -15.5% | -20.4% | -13.2% | -14.5% | -20.3% |
| ROIC | -8.5% | -8.5% | -6.8% | -9.6% | -18.4% | -16.5% | -13.5% | -21.6% | -11.3% | -12.8% | -18.2% |
| ROCE | -10.5% | -10.5% | -7.9% | -10.0% | -15.9% | -14.8% | -15.2% | -23.8% | -11.7% | -13.5% | -20.7% |
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 | 0.99 | 0.99 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.14 | 0.11 | 0.22 | 0.21 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.90 | -0.07 | -0.15 | -0.25 | -0.38 | -0.12 | 0.04 | 0.01 | 0.07 | 0.09 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -361.11 | 27.81 | -28.28 | -24.55 | -13.73 | -12.32 | -16.42 |
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 | 30.69 | 30.69 | 3.88 | 22.46 | 7.28 | 24.42 | 4.26 | 1.91 | 6.87 | 4.36 | 2.98 |
| Quick Ratio | 28.34 | 28.34 | 2.76 | 18.71 | 5.23 | 19.38 | 2.02 | 0.90 | 5.00 | 2.69 | 1.60 |
| Cash Ratio | 27.59 | 27.59 | 2.01 | 18.39 | 4.03 | 18.48 | 1.82 | 0.78 | 4.71 | 1.88 | 1.40 |
| Asset Turnover | — | 0.05 | 0.13 | 0.09 | 0.05 | 0.01 | 0.01 | 0.03 | 0.16 | 0.17 | 0.28 |
| Inventory Turnover | 0.83 | 0.83 | 0.92 | 0.57 | 0.33 | 0.20 | — | 0.89 | 1.15 | 1.48 | 2.69 |
| Days Sales Outstanding | — | 99.76 | 176.45 | 7.85 | 15.14 | 453.27 | 257.35 | 78.04 | 13.70 | 14.73 | 2.44 |
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 | — | — | — | 8.6% | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 1.9% | 1.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.9% | 1.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $233M | $172M | $160M | $157M | $150M | $121M | $96M | $83M | $71M | $56M |
Includes 30+ ratios · 26 years · Updated daily
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Quick answers to the most common questions about buying UUUU stock.
Energy Fuels Inc.'s current P/E ratio is -30.6x. The historical average is 24.1x.
Energy Fuels Inc.'s return on equity (ROE) is -14.1%. The historical average is -45.0%.
Based on historical data, Energy Fuels Inc. is trading at a P/E of -30.6x. Compare with industry peers and growth rates for a complete picture.
Energy Fuels Inc. has 7.7% gross margin and -153.4% operating margin.
Key Metrics
Top Statement Risk
Debt-funded expansion and cash burn
Metrics are mathematically derived from official filings.
Persistent Losses Despite Margin Swings
Energy Fuels' gross margin swung from -39.1% to 59.5% over the past year, yet operating margin remained deeply negative at -121.8% in 2026Q2, indicating structural cost issues. According to quarterly filings, SG&A consistently exceeds gross profit.
The gross margin volatility reflects uranium price and volume fluctuations, but the persistent negative operating margin reveals that overhead costs are not scaling with revenue. In 2026Q2, SG&A of $19.2M exceeded gross profit of $14.4M, leading to an operating loss. This suggests that even when the company achieves favorable pricing, its cost structure prevents profitability, a trend that has persisted for nine consecutive quarters.
Capital Efficiency Deteriorating
ROIC has remained negative for nine consecutive quarters, with 2026Q2 at -1.7%, while total assets surged to $1.5B. As reported in financial statements, the company is investing heavily but not generating returns, indicating capital allocation challenges.
The expansion of PP&E to $402.8M has not translated into positive returns, as ROIC has hovered near -2% to -4% over the past year. This suggests that the company's investments in tangible assets are not yet productive, or that the uranium market downturn is suppressing returns. The negative ROIC, combined with rising debt, implies that the company is not compounding capital but rather consuming it, which warrants close monitoring of future asset utilization.
Working Capital Swings Amplify Cash Burn
Energy Fuels' cash conversion cycle spiked to 488 days in 2026Q2, driven by DIO of 613 days, reflecting slow inventory turnover. Based on quarterly data, working capital changes have swung from -$13.0M to +$15.1M, indicating inefficient cash management.
The extremely high DIO suggests that inventory is accumulating, possibly due to strategic stockpiling of uranium, but this ties up cash and exacerbates the negative FCF margin of -152.6%. The volatile CCC, ranging from 150 to 1,333 days, indicates that the company's working capital requirements are unpredictable, which complicates cash flow forecasting. This inefficiency is a key driver of the persistent cash burn, as operating cash flow has been negative in eight of ten quarters.
Debt Load Emerges from Zero
Energy Fuels' debt-to-equity ratio surged from zero in 2025Q3 to 0.86 by 2026Q2, with total debt reaching $681.9M. According to balance sheet data, this leverage spike marks a strategic shift to debt financing, increasing financial risk.
The company was debt-free for most of the past two years, but the recent debt issuance has raised its D/E to 0.86, which is above the peer average of 0.44 for enCore Energy. While the current ratio remains high at 27.90, the rapid debt accumulation, combined with negative interest coverage (not calculable due to negative EBITDA), suggests that debt service could become challenging if cash flows do not improve. Investors should monitor whether this debt is funding productive assets or merely extending the cash runway.
Liquidity Cushion Thinning Rapidly
Despite a current ratio of 27.90 in 2026Q2, cash dropped 46% quarter-over-quarter to $58.4M, as reported in financial statements. The quick ratio of 25.87 remains high, but the rapid cash burn suggests the cushion is eroding.
The high current and quick ratios are misleading because they are driven by large inventory and other current assets, not by liquid cash. With FCF margin at -152.6% and cumulative losses exceeding $200M, the company is consuming its liquidity at an unsustainable pace. If the cash burn continues, the current ratio could deteriorate quickly, especially if inventory becomes difficult to monetize. This suggests that the apparent liquidity strength is temporary and warrants close monitoring.
Misapplied Metric: Current Ratio
The current ratio is commonly misapplied to Energy Fuels because its high value (27.90) masks a severe cash burn and illiquid inventory. As reported in quarterly data, DIO of 613 days indicates inventory is not readily convertible to cash.
For a uranium producer with long production cycles and strategic stockpiling, the current ratio overstates liquidity because inventory may not be sellable at book value in the near term. A more appropriate metric is the quick ratio adjusted for inventory, or the cash runway (cash divided by monthly burn). In 2026Q2, cash of $58.4M against quarterly operating cash outflow of roughly $38M implies a runway of less than two quarters, which is a more accurate measure of liquidity risk. Investors should focus on cash runway and inventory turnover rather than the current ratio.