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Centrus Energy

LEU on NYSE. Centrus Energy sells nuclear fuel to nuclear power plant operators. Market value $3.2bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Good business, but not cheap right now

Why it could be worth it

What to watch out for

See cheaper Materials stocks on the list

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-5.3%low

For every $100 of what the whole company costs, it produced $-5.34 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
321.0×full

You pay 321.0 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: 84 of 100. Price score: 8 of 100. Our list needs 70 on quality and 60 on price.

$153.88 a share, 13% above its 1-year low

Over the past year the price has ranged from $135.75 to $464.25.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.0
0.0
0.0
0.0
0.0
-0.2
2021202220232024202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: a shortfall of $164 million in the past 12 months, $31 million in the year to December 2025.

Revenue
$298m$294m$320m$442m$449m
Operating margin
22.9%20.3%16.4%10.9%11.2%
Debt to equity
n/an/a2.772.931.54
Shares outstanding
0.01bn0.01bn0.02bn0.02bn0.02bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)5 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt1.54× equity
  • Revenue growth, five yearsStrong, 12.7% a year
  • Buying back its own sharesNo, 46% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $176 million last quarter, up 14% on a year ago.
  • Profit: $17 million, down 42% on a year ago.
  • It keeps 2 cents of each $1 of sales as operating profit, down from 21 cents a year earlier.
  • Over the past 12 months it spent $164 million more cash than it brought in. A year earlier it had $107 million spare.
  • 21% more shares than a year ago. Each share owns a bit less of the company.
  • It has $691 million more cash than debt, up from $443 million a year ago.
  • Sales grew on a year ago in 3 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$58m
December 2024$152m
March 2025$73m
June 2025$155m
September 2025$75m
December 2025$146m
March 2026$77m
June 2026$176m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$5m
December 2024$54m
March 2025$27m
June 2025$29m
September 2025$4m
December 2025$18m
March 2026$10m
June 2026$17m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
11 February 2026
Next quarterly (estimated, 10-Q)
5 November 2026

Who owns it

2 long-term investors we follow own it, unchanged from 2 last quarter. 377 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 1 sold $62,286.

  • TINELLI TODD M
    SVP, CFO & Treasurer
    Sold
    Date
    11 May 2026
    Shares
    306
    Price
    $203.55
    Value
    $62,286

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 11 Feb 2026, plus the 10-Q filed 6 Aug 2026 and 12 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It isn't cheap on profits: 321.0× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.