# Centrus Energy Corp. (LEU)

> Source: Nexqual · https://nexqual.com/LEU · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Centrus Energy Corp. (LEU), nexqual.com/LEU" · informational, not investment advice.

**Price:** USD 104.15 (-4.37% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 108.91 · day 102.21–107.24 · 52w 102.16–402 · market cap $2.13B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $474M, net income $48.5M (10.2% margin), free cash flow -$164M (SEC filings).
- Valuation: P/E 43.9x (avg 29.0x at the last 3 fiscal year-ends), EV/EBITDA 84.7x, net cash $691M.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $62K; 1 not under a Rule 10b5-1 plan ($62K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.26 on a 1–5 scale) (19 analysts), mean target USD 225.15 (range 115–337).
- Total return with dividends: 1Y -69.7% vs S&P 500 +14.9%; 5Y +113.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD -0.07, revenue estimate $58.5M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $298M | $294M | $320M | $442M | $449M | $474M |
| Gross profit | $115M | $118M | $112M | $112M | $118M | — |
| Operating income | $68.3M | $59.7M | $52.4M | $48.0M | $50.2M | $7.4M |
| Net income | $175M | $52.2M | $84.4M | $73.2M | $77.8M | $48.5M |
| EPS (diluted) | $9.75 | $3.38 | $5.44 | $4.47 | $3.90 | — |
| Free cash flow | $48.8M | $19.9M | $7.5M | $32.9M | $31.3M | -$164M |
| Gross margin | 38.4% | 40.1% | 35.0% | 25.2% | 26.2% | — |
| Operating margin | 22.9% | 20.3% | 16.4% | 10.9% | 11.2% | 1.6% |
| Net margin | 58.7% | 17.8% | 26.4% | 16.6% | 17.3% | 10.2% |
| Revenue growth | +20.7% | -1.5% | +9.0% | +38.0% | +1.5% | — |
| Cash + short-term investments | $194M | $180M | $201M | $671M | $1.96B | — |
| Total debt | $108M | $102M | $95.7M | $479M | $1.17B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 43.9x · P/S 4.5x · EV/EBITDA 84.7x · EV/Sales 3.0x · P/B 2.5x · FCF yield -7.69% · Earnings yield 2.28% · Net cash $691M · EV $1.44B
P/E at fiscal year-ends: Dec 2025 62.2x, Dec 2024 14.9x, Dec 2023 10.0x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-11 | Tinelli Todd M | SVP, CFO & Treasurer | 306 | $62K | 100% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.26 on a 1–5 scale), 19 analysts; mean target USD 225.15 (low 115, high 337).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Truist Securities | Target lowered | Buy | $215 → $178 |
| 2026-10-21 | HC Wainwright & Co. | Reiterated | Buy | $300 |
| 2026-10-20 | Needham | Target lowered | Buy | $262 → $206 |
| 2026-10-08 | Guggenheim | Initiated | Buy | $167 |
| 2026-09-03 | Jefferies | Initiated | Hold | $169 |
| 2026-08-25 | Stifel | Target lowered | Buy | $246 → $216 |
| 2026-08-19 | UBS | Target raised | Neutral | $170 → $185 |
| 2026-08-18 | Barclays | Initiated | Equal-Weight | $207 |
| 2026-08-07 | JP Morgan | Target raised | Neutral | $178 → $180 |
| 2026-08-07 | Needham | Target lowered | Buy | $264 → $262 |
| 2026-08-07 | Evercore ISI Group | Target lowered | Outperform | $390 → $337 |
| 2026-07-29 | JP Morgan | Target lowered | Neutral | $236 → $178 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -69.7% | +113.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -69.9% | +16.4% |
| Volatility (annualized) | 87.0% | 77.8% |
| Max drawdown | -73.3% (Oct 2025→Oct 2026) | -75.1% (Nov 2021→May 2022) |

## Peers (Uranium)
UUUU (Energy Fuels Inc) USD 7.69 -6.22% · DNN (Denison Mines Corp) USD 2.16 -7.30% · UROY (Uranium Royalty Corp.) USD 3.38 -1.17% · UEC (Uranium Energy Corp.) USD 7.48 -5.32% · NXE (Nexgen Energy Ltd.) USD 8.1 -5.04% · ISOU (IsoEnergy Ltd.) USD 8.02 -5.87%

## More
Full page: https://nexqual.com/LEU · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name LEU in their own reports (relationship from LEU's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | Oklo Inc. (OKLO) | 10-K 2026-03-17 | "The execution, termination, expiration, or failure to renew agreements with our suppliers, including, but not limited to, Siemens Energy, Inc., Amentum Technology Inc., Kiewit, and Centrus, whether du…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $153.4M | 87.1% | +22.0% |
| — Separative Work Units (part of Product) | $100.0M | 56.8% | -20.4% |
| — Uranium (part of Product) | $53.4M | 30.3% | — |
| Service | $22.7M | 12.9% | -21.2% |
| Total revenue | $176.1M | 100% | — |

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $335.3M | 74.7% | +32.3% |
| Foreign | $113.4M | 25.3% | -39.9% |
| — Japan (part of Foreign) | $102.7M | 22.9% | -12.4% |
| — Other Foreign (part of Foreign) | $10.7M | 2.4% | -63.1% |
| Total revenue | $448.7M | 100% | — |

## Customer concentration

Period ended 2025-12-31: 16%, 15%, 13%, 11% of revenue from unnamed direct customers (10-K, filed 2026-02-11).

## Company outlook (8-K filed 2026-08-05)

- "The Company is updating some of its financial and operational guidance for the full year 2026 based on information available to the Company at the time of this release."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.07 | $0.52 | -114.4% | $58.5M | 8 |
| Next quarter (ends 2026-12-31) | $1.55 | $1.96 | -20.5% | $166.2M | 8 |
| Current fiscal year (ends 2026-12-31) | $3.58 | $4.07 | -11.9% | $476.9M | 8 |
| Next fiscal year (ends 2027-12-31) | $4.10 | $4.17 | -1.5% | $490.8M | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±20.2%; last 8 reports averaged ±17.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 90.4% | ±20.2% |
| 2026-12-18 | 56 | 82.4% | ±25.8% |
| 2027-01-15 | 84 | 81.1% | ±30.9% |
| 2027-04-16 | 175 | 80.4% | ±43.6% |