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Building products & equipment · Industrials · Fiscal year ends Dec 31
Nuscale Power reported revenue of $31M in the fiscal year ended Dec 2025, down 15.0% from the year before. Operating income was −$690M, an operating margin of −2190.6%, and net income was −$356M. Operating cash flow of −$460M less capital expenditure of $508,000 left free cash flow of −$460M.
Ranks among the 14 building products & equipment companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 2.9 | 11.8 | 22.8 | 37.0 | 31.5 |
| Cost of revenue | 1.8 | 7.3 | 19.0 | 4.9 | 20.0 |
| Gross profit | 1.1 | 4.5 | 3.8 | 32.1 | 11.4 |
| Research & development | 94.4 | 128 | 156 | 46.8 | 45.5 |
| Operating income | −174 | −230 | −276 | −139 | −690 |
| Net interest incomeBanks | −1.7 | 3.8 | 10.8 | – | – |
| Pre-tax income | −102 | −142 | −180 | −346 | −664 |
| Income tax | 0.0 | 0.0 | 0.0 | 1.9 | 0.3 |
| Net income | −102 | −25.9 | −58.4 | −137 | −356 |
| Diluted EPS | 0.00 | −0.51 | −0.80 | −1.47 | −2.17 |
| Diluted shares | 0.0 | 50.8 | 73.4 | 93.2 | 164 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 77.1 | 218 | 120 | 402 | 836 |
| Receivables | 4.8 | 11.2 | 10.1 | 21.1 | 8.4 |
| Current assets | 86.1 | 284 | 155 | 471 | 1,273 |
| Net PP&E | 5.0 | 4.8 | 4.1 | 2.4 | 1.9 |
| Goodwill | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 |
| Total assets | 121 | 349 | 225 | 545 | 1,413 |
| Payables | 0.3 | 28.0 | 44.9 | 47.9 | 287 |
| Deferred revenue | – | – | 0.0 | 0.8 | 0.6 |
| Current liabilities | 48.4 | 38.6 | 87.5 | 89.7 | 296 |
| Total liabilities | 52.8 | 71.5 | 95.5 | 91.6 | 299 |
| Shareholders' equity | 66.3 | 115 | 93.5 | 619 | 1,169 |
| Backlog (remaining obligations) | – | – | – | 5.0 | – |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −99.2 | −149 | −183 | −109 | −460 |
| Capital expenditure | 2.0 | 2.3 | 1.7 | 0.0 | 0.5 |
| Free cash flow | −101 | −151 | −185 | −109 | −460 |
| Depreciation & amortisation | 2.0 | 2.5 | 2.4 | 1.7 | 1.0 |
| Stock-based compensation | 6.4 | 9.3 | 16.2 | 13.6 | 19.2 |
| Share buybacks | 0.0 | 0.6 | 0.0 | 0.0 | – |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 312.4% | 93.2% | 62.4% | −15.0% |
| Gross margin | 38.2% | 38.0% | 16.9% | 86.7% | 36.3% |
| Operating margin | −6090.1% | −1948.4% | −1208.1% | −374.5% | −2190.6% |
| Net margin | −3581.2% | −219.5% | −255.9% | −368.8% | −1130.3% |
| Return on equityBlank when equity is negative | −154.7% | −22.6% | −62.4% | −22.1% | −30.4% |
| ROCEEBIT ÷ (assets − current liabilities) | −239.5% | −74.2% | −200.6% | −30.5% | −61.8% |
| Free cash flow margin | −3533.0% | −1278.7% | −811.0% | −293.5% | −1461.7% |
| Cash conversion (CFO ÷ net income) | 0.97x | 5.73x | 3.14x | 0.80x | 1.29x |
| Receivable days | 616 | 346 | 162 | 208 | 97 |
| Payable days | 63 | 1394 | 865 | 3545 | 5216 |
| Current ratio | 1.78x | 7.38x | 1.77x | 5.25x | 4.30x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.