# Uranium Energy Corp. (UEC)

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

**Price:** USD 7.48 (-5.32% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 7.9 · day 7.4–7.77 · 52w 7.27–20.34 · market cap $3.71B · ASE

## Key facts
- Last four reported quarters (through Jul 31, 2026): revenue $37.3M, net income -$137M (-368.6% margin), free cash flow -$107M (SEC filings).
- Analysts: Buy (mean 2.09 on a 1–5 scale) (11 analysts), mean target USD 16.03 (range 10–26.75).
- Total return with dividends: 1Y -43.8% vs S&P 500 +14.9%; 5Y +90.8% vs S&P 500 +80.3%.
- Next earnings: 2026-12-08, EPS estimate USD -0.01, revenue estimate $9.5M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $23.2M | $164M | $224K | $66.8M | $37.3M | $37.3M |
| Gross profit | $7.3M | $49.7M | $37K | $24.5M | $16.9M | — |
| Operating income | -$22.7M | $8.9M | -$56.4M | -$73.3M | -$133M | -$133M |
| Net income | $5.3M | -$3.3M | -$29.2M | -$87.7M | -$137M | -$137M |
| EPS (diluted) | $0.02 | -$0.01 | -$0.07 | -$0.20 | -$0.28 | — |
| Free cash flow | -$53.6M | $72.0M | -$108M | -$69.9M | -$107M | -$107M |
| Gross margin | 31.5% | 30.2% | 16.5% | 36.6% | 45.4% | — |
| Operating margin | -98.1% | 5.4% | -25179.5% | -109.7% | -357.4% | -357.4% |
| Net margin | 22.7% | -2.0% | -13045.1% | -131.1% | -368.6% | -368.6% |
| Revenue growth | — | +609.8% | -99.9% | +29737.9% | -44.3% | — |
| Cash + short-term investments | — | $45.6M | $87.5M | $149M | $495M | — |
| Total debt | $0K | — | — | — | — | — |
Fiscal years end Jul. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 31, 2026)
P/S 99.5x · P/B 2.7x · FCF yield -2.90% · Earnings yield -3.70%

## Analysts
Consensus Buy (mean 2.09 on a 1–5 scale), 11 analysts; mean target USD 16.03 (low 10, high 26.75).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-02 | RBC Capital | Initiated | Sector Perform | $10 |
| 2026-09-30 | HC Wainwright & Co. | Reiterated | Buy | $26.75 |
| 2026-09-03 | Jefferies | Initiated | Hold | $11.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -43.8% | +90.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -44.0% | +13.8% |
| Volatility (annualized) | 77.9% | 68.9% |
| Max drawdown | -62.9% (Jan 2026→Oct 2026) | -60.5% (Apr 2022→May 2023) |

## Peers (Uranium)
NXE (Nexgen Energy Ltd.) USD 8.1 -5.04% · LEU (Centrus Energy Corp.) USD 104.15 -4.37% · 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% · ISOU (IsoEnergy Ltd.) USD 8.02 -5.87%

## More
Full page: https://nexqual.com/UEC · 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)

Named in UEC's own 10-K filed 2026-09-29 (https://www.sec.gov/Archives/edgar/data/1334933/000143774926031414/uec20260731_10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Solstice Advanced Materials Inc. (SOLS) | "Currently, the uranium we purchase is or will be stored at the licensed uranium conversion facilities at ConverDyn, located in Metropolis, Illinois, a joint partnership between Solstice Advanced Materials Inc. and Genera…" |
| Partner | CAMECO CORP (CCJ) | "In 1983, the Saskatchewan Mining and Development Corporation ("SMDC"), predecessor to Cameco, became the operator of the Dawn Lake Joint Venture." |
| Partner | Saskatchewan Power | "In August 2026, we entered into a Definition Study Agreement with Saskatchewan Power Corporation to advance engineering, environmental assessment and community engagement work specifically for the connection of a high-vo…" |
| Partner | Adnani | "On July 24, 2013, we entered into a services agreement with Adnani Corp., as supplemented by letter agreements dated August 1, 2015 and September 24, 2024 (collectively the "Adnani Agreement")." |

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

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| related | Uranium Royalty Corp. (UROY) | 10-K 2026-07-28 | "During the year ended April 30, 2024, Uranium Energy Corp. ("UEC"), a shareholder and related party of the Company, purchased 2,978,364 common shares in public offerings." |

## Revenue by business segment (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Total revenue | $17.1M | 100% | — |
The lines above cover 0% of total revenue.

## Revenue by product line (fiscal year ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Sale Of Inventory | $37.3M | 100.0% | -44.3% |
| Total revenue | $37.3M | 100% | — |

## Customer concentration

Period ended 2026-07-31: 54%, 46%, 0%, 0%, 0%, 0% of revenue from unnamed direct customers (10-K, filed 2026-09-29).

## Company outlook (8-K filed 2026-09-29)

- "(" Fluor "), UR&C completed core execution plans, built a combined dedicated 63-member project team, began preparing its U.S."
- "The Class IV cost estimate is expected to be completed by mid-2027. ● Wellfield Construction Underway at Ludeman, UEC ' s Next In-Situ Recovery ( " ISR " ) Mine: Installation of the monitoring, injection and recovery wells in the initial wellfield is underway."
- "The Army anticipated more than 20 microreactors to be deployed through the Janus Program with all requiring unobligated U.S.-origin uranium and conversion services."
- "United States Uranium Refining & Conversion Corp (UR&C) During fiscal 2026, UR&C advanced its planned uranium conversion facility across technology development, licensing and project execution, working with its engineering partner Fluor."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $-0.01 | $0.00 | — | $9.5M | 2 |
| Next quarter (ends 2027-01-31) | $-0.04 | $0.01 | -500.0% | $10.9M | 1 |
| Current fiscal year (ends 2027-07-31) | $-0.23 | $-0.11 | +119.4% | $63.6M | 5 |
| Next fiscal year (ends 2028-07-31) | $-0.07 | $0.01 | -840.0% | $177.2M | 5 |