NuScale Power vs. Centrus Energy: Which Nuclear Stock Has an Edge Now?

Core Insights - NuScale Power and Centrus Energy are significant contributors to the advanced nuclear technology sector, with NuScale focusing on small modular reactors (SMRs) and Centrus specializing in High-Assay Low-Enriched Uranium (HALEU) enrichment [1][2] Market Overview - The global SMR market was valued at $5.81 billion in 2024 and is projected to reach $8.37 billion by 2032, growing at a CAGR of 4.98% from 2025 to 2032 [2] NuScale Power Insights - NuScale Power is experiencing growth due to advancements in SMR technology and an expanding partner base, including major tech companies and financial institutions [4][7] - The increasing energy demand, particularly from data centers, is a significant growth driver for NuScale Power, as these centers are expected to triple their energy use over the next three years [5][6] - NuScale Power's technology is well-positioned to meet the energy needs of hyperscale data centers, which are projected to account for 12% of U.S. electricity consumption by 2028 [6] Centrus Energy Insights - Centrus Energy is benefiting from rising demand for nuclear fuel, especially HALEU, and has secured a contract extension with the U.S. Department of Energy for HALEU production through June 30, 2026 [8][9] - The Department of Energy's support for HALEU highlights the growing demand for this type of uranium, which is crucial for advanced reactors [8] Financial Performance - Centrus Energy's 2025 EPS estimate increased by 9.2% to $3.53, while NuScale Power's estimate reflects a loss of 41 cents [11] - Year-to-date, NuScale Power's shares have appreciated by 141.2%, while Centrus Energy shares surged by 188.2% [12] - Valuation metrics indicate that both SMR and LEU shares are currently overvalued, with SMR trading at a Price/Sales ratio of 119.46X compared to LEU's 7.23X [15] Conclusion - Both NuScale Power and Centrus Energy are positioned to benefit from the nuclear energy boom, but Centrus Energy appears to have a stronger earnings potential and demand for nuclear fuel, particularly HALEU [19]