CCO—59

Cameco Corp

UraniumVerified

Score breakdown

Profitability+32Sentiment+30Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion97AI synthesis40Observations23

Cameco Corp has a strong liquidity position, with a cash and equivalents balance of CAD 308.99 million and a free cash flow of CAD 453.14 million in the latest period [doc:1]. The company's debt-to-equity ratio is 0.14, indicating a conservative capital structure with low leverage [doc:1]. The company's return on equity (ROE) is 8.54%, and its return on assets (ROA) is 5.72%, both of which are in line with industry expectations for uranium producers [doc:1]. In terms of profitability, Cameco Corp reported a net income of CAD 589.58 million and an operating income of CAD 618.14 million in the latest period [doc:1]. The company's gross profit margin is 27.87%, which is a key performance indicator for uranium producers. The company's operating cash flow of CAD 1.41 billion supports its capital expenditures of CAD 333.03 million, indicating a healthy cash flow generation [doc:1]. Cameco Corp's revenue is primarily derived from its uranium and fuel services segments, with the Westinghouse segment contributing through equity investment earnings [doc:1]. The company's geographic exposure is not explicitly detailed in the provided data, but its operations are centered around its two operating mines, Cigar Lake and McArthur River, and a mill at Key Lake [doc:1]. The company also has ownership interests in Global Laser Enrichment, which may contribute to its geographic diversification [doc:1]. Looking ahead, Cameco Corp is expected to maintain a stable growth trajectory, with the latest outlook indicating a positive direction for the current fiscal year [doc:1]. The company's revenue history shows a consistent performance, supported by its strong cash flow and capital expenditure management [doc:1]. The company's risk assessment indicates a medium liquidity risk and a low dilution risk, with key flags noting that net cash is negative after subtracting total debt [doc:1]. The company's dilution potential is low, and no significant adjustments have been applied to its valuation metrics [doc:1]. Recent events and filings for Cameco Corp include analyst estimates with a mean price target of CAD 175.98 and a median price target of CAD 178.01 [doc:1]. The mean recommendation from analysts is 2.14, indicating a generally positive outlook, with 17 buy ratings and 2 hold ratings [doc:1]. The company's strong buy count is 1, and the low price target is CAD 143.22, while the high price target is CAD 217.18 [doc:1].

Profile

CompanyCameco Corp

TickerCCO.TO

SectorEnergy

BusinessUranium

Industry groupUranium

IndustryUranium

AI analysis

Business. Cameco Corporation is a provider of uranium fuel to generate baseload electricity around the globe, operating through uranium exploration, mining, milling, and fuel services, as well as through its equity investment in Westinghouse [doc:1].

Classification. Cameco is classified under the Energy economic sector, Uranium business sector, and Uranium industry with a confidence level of 0.92 [doc:1].

Key takeaways

Cameco Corp has a strong liquidity position with a free cash flow of CAD 453.14 million and a cash and equivalents balance of CAD 308.99 million [doc:1].
The company's conservative capital structure is reflected in a debt-to-equity ratio of 0.14, indicating low leverage [doc:1].
Cameco Corp's profitability is supported by a net income of CAD 589.58 million and an operating income of CAD 618.14 million [doc:1].
The company's revenue is primarily derived from its uranium and fuel services segments, with the Westinghouse segment contributing through equity investment earnings [doc:1].
Analysts have a generally positive outlook on Cameco Corp, with a mean recommendation of 2.14 and a median price target of CAD 178.01 [doc:1].
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Financial snapshot

PeriodHA-latest

CurrencyCAD

Revenue$3.48B

Gross profit$970.3M

Operating income$618.1M

Net income$589.6M

R&D—

SG&A—

D&A—

SBC—

Operating cash flow$1.41B

CapEx-$333.0M

Free cash flow$453.1M

Total assets$10.30B

Total liabilities$3.40B

Total equity$6.90B

Cash & equivalents$309.0M

Long-term debt$996.3M

Annual history (last 5)

PeriodRevenueOp IncomeNet IncomeFCF

FY0$3.48B$618.1M$589.6M$453.1M

FY-1$3.14B$510.1M$171.9M$171.4M

FY-2$2.59B$282.9M$360.8M$410.6M

FY-3$1.87B$37.9M$89.4M$141.6M

FY-4$1.47B-$115.0M-$102.6M-$25.3M

PeriodGross %Op %Net %FCF %

FY0————

FY-1————

FY-2————

FY-3————

FY-4————

PeriodAssetsEquityCashDebt

FY0$10.30B$6.90B$309.0M—

FY-1$9.91B$6.36B$395.7M—

FY-2$9.93B$6.09B$337.1M—

FY-3$8.63B$5.84B$441.9M—

FY-4$7.52B$4.85B$642.9M—

PeriodOCFCapExFCFSBC

FY0$1.41B-$333.0M$453.1M—

FY-1$905.3M-$211.6M$171.4M—

FY-2$688.1M-$153.6M$410.6M—

FY-3$304.6M-$143.4M$141.6M—

FY-4$458.3M-$98.8M-$25.3M—

Quarterly history (last 4)

PeriodRevenueOp IncomeNet IncomeFCF

FQ0$1.20B$173.3M$199.1M$184.9M

FQ-1$614.6M$93.0M-$141.0k-$33.6M

FQ-2$877.0M$166.0M$320.9M$332.4M

FQ-3$789.4M$185.8M$69.8M$73.9M

FQ-4$1.18B$181.0M$135.5M$175.8M

FQ-5$720.6M$100.3M$7.4M$18.2M

FQ-6$598.5M$102.0M$36.0M$51.0M

FQ-7$633.5M$126.7M-$7.1M-$3.9M

PeriodGross %Op %Net %FCF %

FQ0————

FQ-1————

FQ-2————

FQ-3————

FQ-4————

FQ-5————

FQ-6————

FQ-7————

PeriodAssetsEquityCashDebt

FQ0$10.30B$6.90B$309.0M—

FQ-1$9.74B$6.78B$229.9M—

FQ-2$9.58B$6.74B$263.8M—

FQ-3$9.38B$6.49B$95.0M—

FQ-4$9.91B$6.36B$395.7M—

FQ-5$9.29B$6.21B$0.00—

FQ-6$9.38B$6.19B$129.0M—

FQ-7$9.50B$6.11B$88.8M—

PeriodOCFCapExFCFSBC

FQ0$1.41B-$333.0M$184.9M—

FQ-1$731.1M-$223.9M-$33.6M—

FQ-2$575.4M-$131.4M$332.4M—

FQ-3$110.2M-$56.5M$73.9M—

FQ-4$905.3M-$211.6M$175.8M—

FQ-5$375.6M-$147.2M$18.2M—

FQ-6$323.2M-$86.9M$51.0M—

FQ-7$63.2M-$40.0M-$3.9M—

Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$6.90B

Net cash-$687.4M

Current ratio—

Debt/Equity0.1

ROA5.7%

ROE8.5%

Cash conversion2.4%

CapEx/Revenue-9.6%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Uranium · cohort 1 companies

MetricCCOActivity

Op margin17.8%11.2% medp25 11.2% · p75 11.2%top quartile

Net margin16.9%17.3% medp25 17.3% · p75 17.3%bottom quartile

Gross margin27.9%49.6% medp25 49.6% · p75 49.6%bottom quartile

R&D / revenue—3.8% medp25 3.8% · p75 3.8%

CapEx / revenue-9.6%4.4% medp25 4.4% · p75 4.4%bottom quartile

Debt / equity14.0%0.0% medp25 0.0% · p75 1.4%top quartile

Observations

IR observations

Mean price target175.98 CAD

Median price target178.01 CAD

High price target217.18 CAD

Low price target143.22 CAD

Mean recommendation2.14 (1=strong buy, 5=strong sell)

Strong-buy count1.00

Buy count17.00

Hold count2.00

Sell count1.00

Strong-sell count0.00

Mean EPS estimate1.57 CAD

Last actual EPS1.44 CAD

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-01 05:11 UTC#509cbacd

Source: analysis-pipeline (hybrid)Generated: 2026-05-01 05:13 UTCJob: b228f635