Feed / SMR

NuScale Power Corporation

SMR

Industrials · 10.21 -5.3% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

NuScale Power Corporation's current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 10 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.

Company-5.3% todayVolume comparison unavailable
Market group0 of 10 activeNuclear-Led Energy Theme · unavailable
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
  • Other expenses rose $10.0M for the three months ended March 31, 2026, partly due to ramping resources for supply chain readiness and delivery of future commercial projects.

Invalidation: The isolated read changes if SMR's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Industrials · Specialty Industrial Machinery

No new filing conclusion is available. 0 of 10 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Other expenses rose $10.0M for the three months ended March 31, 2026, partly due to ramping resources for supply chain readiness and delivery of future commercial projects.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods6
Price observations327
Usable filing statements50
Verified relationships6
Evidence supporting the case

No qualifying supportive evidence was identified.

Evidence challenging the case
  • Latest annual revenue changed -15.0% year over year.
  • Operating margin changed -1816.1 percentage points in the latest annual period.
  • Net margin changed -761.5 percentage points in the latest annual period.
Questions before a position
  • EV/sales is 489% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

10.21
6m-17.6%12m-71.1%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$2.9M+377.0%$0.00
2022-12-31$11.8M+312.4%$-0.51
2023-12-31$22.8M+93.2%$-0.80+44.6%
2024-12-31$37.0M+62.4%$-1.47+27.1%
2025-12-31$31.5M-15.0%$-2.17

What management says matters

Persistent and emerging business drivers

Product pipeline and R&Dnegative · 2 filings
Research and Development Research and development (“R&D”) expenses decreased $1.1 million during the three months ended September 30, 2025 as compared to the three months ended September 30, 2024, primarily as a result of the Company signing revenue-generatin…
10-Q · Nov 6, 2025
Restructuring and cost reductionsnegative · 2 filings
Due to the nature of IPR&D, the expected life is indefinite, and it will be evaluated periodically for attainment of technological feasibility or impairment.
10-K · Feb 26, 2026
Demand and volumepositive · 1 filings
Outlook Foreign SMR Market Demand for energy in foreign markets is currently being driven by population growth, industrialization and urbanization with countries in Asia contributing the most to international growth.
10-Q · May 7, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 53.1× · EV/sales 26.5×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

10.21-5.3% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for SMR. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for SMR. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind SMR

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

FLRFluor CorporationsupplierFeb 26, 2026

NuScale has supported their scope of this FEED Phase 2 as a subcontractor to Fluor.

HONHoneywell International Inc.supplierFeb 26, 2026

Other key suppliers include Framatome (fuel assemblies), Honeywell International Inc.

Depended on by

FLRFluor CorporationinvesteeNov 7, 2025

During the 2025 Quarter, we converted 15 million of our NuScale voting shares (along with the associated ownership units in NuScale's operating subsidiary) into registered shares.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

SMR is currently a Follower in the organic co-movement group Nuclear-Led Energy Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.