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Cameco Corp (CCJ.US) - analysis, score and valuation

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Full analysis of Cameco Corp stock

Cameco Corp (CCJ) stock analysis

$80.70 +42.30% over 12 months Updated daily · last update: June 10, 2026

Cameco Corp (CCJ) is a company in the Uranium industry, listed on NYSE, with a market capitalisation of 35.1 billion USD. The stock trades at 80.70 USD, 40% below its 52-week high.

Revenue has grown 14.1% a year over the past five years.

Over the past twelve months the stock returned +42.3%, against +24.8% for SPY over the same period. The analysis below covers valuation, profitability, growth, the balance sheet and price behaviour, with data updated daily.

Cameco Corp (CCJ) stock: key data

Price, earnings and risk at a glance. Tap any figure to see what it means.

Cameco share price today

The stock sits 23% of the way between its one-year low and high and below its 50- and 200-day averages.

  • Open$82.34The price at which Cameco Corp shares first traded in the latest session.
  • Close$80.70↓ 13.2%The price of the last Cameco Corp trade in the session that closed.
  • Day range$80.58 - $82.47The lowest and highest price Cameco Corp shares reached in that session.
  • Volume1.86M↓ 41.2%How many Cameco Corp shares changed hands in the latest session.
  • 52-week range$64.71 - $135.24The lowest and highest price of Cameco Corp shares over the past year.
  • Position in the 52-week range2%Where the current price of Cameco Corp shares sits between the low and the high of the past year. 100% means right at the high.
  • 50-day average$113.95The average price of Cameco Corp shares over the last 50 sessions. Shows the short-term trend.
  • 200-day average$102.07The average price of Cameco Corp shares over the last 200 sessions. Shows the long-term trend.
  • Market cap$35.15BThe market value of all Cameco Corp shares combined.

Cameco earnings and valuation

Earnings per share rose 87.5% versus the same quarter last year. At today's price, you pay 76 times annual earnings.

  • Earnings per share$1.06↑ 87.5%How much net profit belongs to a single Cameco Corp share over the last twelve months.
  • Estimated earnings, current year$1.58↑ 49.3%The earnings per share analysts expect from Cameco Corp for the current financial year.
  • Estimated earnings, next year$2.65↑ 67.7%The earnings per share expected from Cameco Corp for the following financial year.
  • Revenue per share$8.13How much of the annual sales of Cameco Corp belongs to a single share.
  • Book value per share$11.62How much Cameco Corp equity belongs to one share, once debt is subtracted from assets.
  • Revenue, last 12 months$3.54B↑ 11.0%Total Cameco Corp sales across the last four reported quarters.
  • Price / earnings76.13xHow many years of current profit a Cameco Corp share costs at today price.
  • Forward price / earnings90.91xThe same ratio, but against the profit Cameco Corp is expected to make next year.
  • PEG1.92xThe price/earnings ratio of Cameco Corp divided by its growth rate. Below 1 is considered cheap relative to how fast it grows.
  • Enterprise value / EBITDA51.22xThe price of the whole Cameco Corp business, debt included, against operating profit before depreciation.

Cameco risk and dividends

The stock swings more than the market, and few investors are betting on a fall.

  • Net margin16.93%↑ 10.1 ppHow much net profit Cameco Corp keeps out of every unit of sales.
  • Return on equity8.88%How much net profit Cameco Corp produces from shareholder money.
  • Dividend yield0.17%How much Cameco Corp pays out in dividends each year, relative to the share price.
  • Dividend per share$0.17↓ 63.3%The estimated annual amount received for each Cameco Corp share held.
  • Payout ratio9.83%What share of Cameco Corp profit goes back to shareholders as dividends. The rest stays in the company.
  • Beta1.23How strongly Cameco Corp shares move against the market. 1 means the same, above 1 means wider swings.
  • Debt / equity0.15How much debt Cameco Corp carries for every unit of equity.
  • Short interest as % of float2.36%What share of freely tradable Cameco Corp stock is sold short, as a bet on a decline.
  • Days to cover short positions2.01How many normal trading days it would take to close every short position on Cameco Corp.

Some values update after the trading session opens, others are recalculated after it closes.

Is Cameco stock worth buying? The analysis in brief

The nine things an investor checks before buying, each with its own sign.

9 signs for Cameco

  • Business quality
  • Price risk
  • What large investors do

and 6 more signs

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Plus 3 full analyses a month, with the verdict and fair value.

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Indicators for Cameco Corp (CCJ) stock

How good the business is, how expensive the price is, and what the chart is doing for CCJ stock.

Scores for Cameco

  • Fundamentals
  • Valuation
  • Technicals

Each score brings several indicators together into one rating, easy to compare across companies.

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Each score’s rating, the indicators behind it and the full calculation.

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Cameco Corp (CCJ) stock: arguments for and against

What supports and what weakens the investment case for CCJ stock

14 for and 8 against

The count is not the verdict. Some arguments carry more weight than others, and the verdict weighs them all.

For14

  • Passes 8 of the nine financial health checks.

    The Piotroski score counts nine simple things: whether the firm is profitable, whether it generates cash, whether debt is falling, whether margins are improving. Here 8 pass.

  • Cameco Corp (CCJ) shares come from a business that keeps 16.9% of sales.

    More is left from sales than at rivals: 16.9% against 8.2% retained by companies in the Energy sector.

  • Cameco Corp carries less debt than its rivals, measured against operating earnings.

    Debt stands at 1.15 times annual operating earnings, so it could be brought down quickly if needed. Companies in the Energy sector are at 1.6.

See all 14 arguments Free with an account

Against8

  • At today's price, Cameco Corp (CCJ) shares cost the equivalent of 76.1 years of earnings.

    If profit stays where it is, the investment would only pay for itself in 76.1 years. Companies in the Energy sector need 15.5 years, and the gap would close only if profit grows sharply.

  • The dividend yields 0.6% a year, below the sector.

    The dividend yields 0.6% a year on the share price, so anyone looking for dividend income will find more elsewhere. Companies in the Energy sector pay 4.2%.

  • Cameco Corp shares come from a business earning 8.9% a year on shareholders' money.

    Every unit of capital put in by shareholders brings 8.9% a year. Companies in the Energy sector produce 9.9%.

See all 8 arguments Free with an account

Our verdict on Cameco Corp stock

The Cameco Corp score from 0 to 100, built from over 400 financial indicators. Not investment advice.

Today's verdict for Cameco

Which of the five tiers Cameco sits on, with its score and the reasoning behind it.

  • The score from 0 to 100 and its tier
  • The reasoning: what pushes the score up and what pulls it down
  • Fair value and projections, in the same analysis
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How often we were right

63%of “Very attractive” verdicts proved right over 2 years: the stock beat the typical company.

Picking at random, you would be right 50% of the time, because half of all stocks beat the typical company. “Very attractive” stocks returned a median +47.7% over 2 years, against +27.6% for the typical company.

  • Very attractivemedian return +47.7%63%
  • Attractivemedian return +37.7%55%
  • Neutralmedian return +27.6%predicts no direction
  • Unattractivemedian return +21.3%55%
  • Very unattractivemedian return +14.3%58%

Measured on 21,538 assessments that called a direction, not on a few hand-picked examples: 57% were right. The more cases there are, the harder it is to stay above 50%, because luck cancels out. For the negative tiers, a verdict is right when the stock stays below the typical company.

We publish and keep the full history of the verdicts we have given for every company. For transparency and honesty.

Analysis produced automatically by einvestitii.ro, on data as of October 3, 2026. It is not investment advice. Who produces it, what it rests on and what conflicts of interest exist: see the full disclosure.

What it is really worth

Value & Valuation

The market price is what buyers are asking today. Here we work out what the share should cost based on the company’s own figures: using the valuation models professional investors rely on, the growth the current price assumes, and the target set by the analysts who follow the company.

Analyst rating and price target for Cameco

What the 19 analysts covering Cameco think and where they see the price in 12 months. These are their estimates, not ours.

Good sign

What do analysts recommend for Cameco stock?

Strong buy

Of the 19 analysts, 19 rate it a buy, 0 a hold and 0 a sell. The average is 4.53 out of 5.

  • Strong buy1053%
  • Buy947%
  • Hold00%
  • Sell00%
  • Strong sell00%

How analysts compare with our score Unlock for free

Good sign

What is the price target for Cameco stock?

$129.01, 59.9% above today's price.

The stock is 25% above its one-year low and 40% below its high.

1-year low
$64.71
Price target
$129.01
Today's price
$80.70
1-year high
$135.24

Warning sign

How are analysts revising their estimates for Cameco?

6 raised · 7 lowered

Revisions over the past 30 days.

Good sign

How much do analysts expect Cameco's earnings to grow?

+67.74%

The average earnings growth analysts expect.

Good sign

How many analysts cover Cameco stock?

19

The more analysts cover a company, the sturdier their average estimate.

All analyst data 8
Average rating4.53 out of 5
Price target$129.01
Price today$80.70
Rise from the low of the past year+24.70%
Fall from the high of the past year−40.33%
Revisions, last 30 days6 / 7
Expected earnings growth+67.74%
Analysts covering19

Analyst estimates, third-party source. These are not our verdict.

Transparency · MAR

Cameco Corp (CCJ) stock fair value

What Cameco Corp shares should cost, judged by the cash the business generates, by its growth and margins, and by what the market pays for similar companies.

What is one Cameco share really worth?

Fair value
Today's price
$80.70

What one Cameco share should cost based on the company’s numbers, and how far today’s price is from that value.

See the answer with a free account

  • How far today’s price is above or below fair value
  • How much you can rely on the estimate and how far the models disagree
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These are estimates, not price targets. Tested on large US companies from 2018 to 2025, fair value did not anticipate 12-month returns: it is a price reference, not a buy signal.

Transparency · MAR

Cameco stock price projections

These are not forecasts. The range shows where the price ended up in 8 cases out of 10 for stocks with the same volatility. It carries no view on the company.

Projections for Cameco

  • 6 months
  • 12 months
  • 3 years
  • 5 years

For each horizon, the range the price reached for stocks with the same volatility as Cameco.

  • The exact prices: low end, midpoint and high end
  • Where today’s price sits in the range and how far each end is
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How often the ranges were right

79%of cases, over 6 months, the actual price landed inside the range.

Measured on 29,357 cases, large US stocks, from January 2023 to December 2025: the range calculated at the time, compared with the final price.

Model target: 80%

  • 6 months79%
  • 12 months79%
  • 3 years87%
  • 5 years85%

These are the model’s rates, checked against real past prices, not picked for Cameco.

Calculated on June 11, 2026.

The ranges are computed automatically by our own statistical model from historical prices.

This information is general in nature and is not investment advice. In line with Regulation (EU) 596/2014 on market abuse and Regulation (EU) 2024/1689 on artificial intelligence. Past performance does not guarantee future results. Full methodology

Transparency · MAR

How the business is actually doing

The Business & Its Results

Fundamental analysis of Cameco Corp (CCJ) stock: profitability, growth rate and capital efficiency, measured on reported figures. The fundamental score is 42.2 out of 100, held up by growth and pulled down by value.

Cameco profitability, growth and earnings quality

Four questions about the Cameco business, each scored from 0 to 100 against companies in the Energy sector.

Worth watching

How profitable is Cameco?

43 out of 100

Cameco earns 5.6% a year on the capital invested in the business.

The Energy sector median is 7.8%. Cameco does better than 23% of companies in its sector.

  • Return on invested capital (ROIC)Profit generated from all capital employed, equity and debt alike. Above the cost of capital (WACC) means value is created. Above 15% is very good.
  • Return on equity (ROE)How much net profit the company generates from shareholders' money. Above ~15% is very good; consistency matters as much as the level.
  • Net profit marginThe margin component of the DuPont breakdown of returns. Higher means the firm keeps more of every unit sold.
  • Return on assets (ROA)How much profit the company draws from the assets it owns. Above ~5% is solid, though it varies widely by industry.
  • Free cash flow marginHow much of sales is left as free cash after investment. Above ~15% is very healthy.
  • Gross profitabilityGross profit against assets, the quality measure proposed by Novy-Marx. High readings point to a durable competitive advantage.
  • Cash operating profitabilityProfitability measured on cash actually collected, not on accounting profit. High readings mean reported profit is backed by real money.
  • ROIC above the cost of capitalThe gap between the return on capital and what that capital costs. Positive means invested capital adds value. Negative means it destroys value.

Worth watching

How fast is Cameco growing?

59 out of 100

Over the past five years, revenue rose by an average of 14.1% a year.

On revenue, Cameco is above the sector median of 13.6%.

  • Revenue growthAverage yearly revenue growth over the past five years. Above ~10% is solid growth for a mature company.
  • Rule of 40Revenue growth added to the profitability margin. Above 40 means a good balance between growth and profitability.

Good sign

Are Cameco's earnings backed by real cash?

66 out of 100

The classic tests find no sign of inflated earnings, and Cameco ranks above the sector average.

The Piotroski score is 8 out of 9. The Beneish score, -2.54, is below the -1.78 threshold at which earnings manipulation is suspected.

  • Piotroski F-scoreNine financial health checks; each one passed adds a point. 7 or more means improving fundamentals.
  • Beneish M-scoreModel that detects patterns of aggressive accounting. Below −1.78 means no signals of aggressive reporting. A statistical test, not an accusation.
  • Montier C-scoreSix warning signals about the quality of accounting. 0-1 is clean; 4 or above calls for caution.
  • Accruals ratio (Sloan)How much of reported profit is accounting only, rather than cash collected. Low or negative means profit is backed by real money.
  • Dilution from stock-based payHow much of shareholders' stake is diluted by shares granted to employees. Below 2% a year is bearable dilution.

Bad sign

How efficiently does Cameco use its capital?

27 out of 100

At Cameco, 143 days pass between paying suppliers and collecting cash from customers.

Cameco does better than 9% of companies in its sector.

  • Cash conversion cycleHow many days pass between paying suppliers and collecting from customers. Low or negative means the company funds operations with its partners' money.
  • Cash conversion cycle, 5-year averageThe five-year average of the conversion cycle, it shows consistency, not just this year. Stable and low means durable operational discipline.
  • Cash conversion of earningsHow much of accounting profit actually turns into cash. Above 100% means profit is more than covered by real money.
  • ROIC above the cost of capital, 5 yearsThe same gap between the return on capital and its cost, but computed on the five-year average return rather than the current year. Positive and stable means growth worth financing.

The scores compare Cameco with companies in the same sector; they are not absolute grades. A low score means the sector does better, not necessarily that the numbers are poor.

Cameco financial statements: revenue, profit, balance sheet and cash

The income statement, balance sheet and cash flows of Cameco Corp. Totals and main components are shown by default; the rest open from “all rows”.

Cameco financial results: what the numbers say

The fiscal year ended December 31, 2025, explained in plain language.

Solid results

Strengths: profits turn into real cash and revenue is growing. Worth watching: the share count is rising.

  • RevenueStrong
    3.48 bn CAD+10.9% vs 2024

    Revenue grew 10.9% from 2024. Over 4 years, it is up 136% in total. It is the best year of the last 5 reported.

  • Net incomeStrong
    589.1 m CAD+242.8% vs 2024

    16.9% of revenue was left as net profit, compared with 5.5% in 2024. Net income rose 242.8%.

  • Free cash flowVery strong
    1.02 bn CAD+47.3% vs 2024

    After investment, 1.02 bn CAD was left as free cash, or 173% of net income. That is 47.3% more than the year before.

  • DebtStrong
    999.7 m CAD1.15x EBITDA

    Financial debt of 999.7 m CAD equals 1.15 times annual operating profit (EBITDA). It holds more cash and short-term investments (1.21 bn CAD) than debt.

  • Returned to shareholdersWeak
    104.4 m CAD10% of free cash flow

    The company paid 104.4 m CAD to shareholders in dividends. The share count is up 10% over 4 years, so each share now owns a smaller slice of the profits.

Latest quarterBeat estimates

In the quarter ended March 31, 2026, revenue came in at 845.4 m CAD and net income at 131.1 m CAD. Earnings per share of 0.47 beat the analyst estimate (0.34) by 38.2%. That makes 2 beats in a row.

Compared with its sector

How the company's margins and returns compare with the rest of its sector.

Sector comparison Free with an account

Figures come from the company's annual and quarterly reports, and the explanations are generated automatically from the same figures. For education only, not investment advice.

revenue3.48 bn+10.9%2016202520162.43 bn20172.16 bn20182.09 bn20191.86 bn20201.80 bn20211.47 bn20221.87 bn20232.59 bn20243.14 bn20253.48 bn
operating income580.4 m+13.8%201620252016−141.8 m2017−127.7 m201870.2 m201992.4 m2020−78.7 m2021−136.2 m202215.1 m2023282.9 m2024510.1 m2025580.4 m
net income589.1 m+243%201620252016−61.6 m2017−204.9 m2018166.3 m201974.0 m2020−53.2 m2021−102.6 m202289.4 m2023360.8 m2024171.9 m2025589.1 m
Income statement, annual, 6 periods
 2025Δ 202420242023202220212020
3.48 bn100%+10.9%3.14 bn100%2.59 bn100%1.87 bn100%1.47 bn100%1.80 bn100%

Everything the company collected from sales, before any expense. At Cameco Corp, in 2025: 3.48 bn · Δ +10.9% (2024).

2.55 bn73.3%+23.0%2.07 bn66.1%1.81 bn69.8%1.63 bn87.5%1.47 bn99.9%1.43 bn79.4%

What it cost to produce what was sold: materials, labour, the factory. At Cameco Corp, in 2025: 2.55 bn · Δ +23.0% (2024).

929.9 m26.7%−12.5%1.06 bn33.9%782.0 m30.2%233.3 m12.5%1.9 m0.1%370.1 m20.6%

What is left from sales after the direct cost of the product, before admin salaries and research. At Cameco Corp, in 2025: 929.9 m · Δ −12.5% (2024).

gross margin26.7%26.7%33.9%33.9%30.2%30.2%12.5%12.5%0.1%0.1%20.6%20.6%
38.4 m1.1%+5.2%36.5 m1.2%21.0 m0.8%12.2 m0.7%7.2 m0.5%4.0 m0.2%

Money put into tomorrow’s products: research, engineering, software. At Cameco Corp, in 2025: 38.4 m · Δ +5.2% (2024).

311.3 m8.9%+23.0%253.2 m8.1%245.5 m9.5%172.0 m9.2%127.6 m8.6%145.3 m8.1%

Sales and admin salaries, marketing, rent, everything that keeps the company running. At Cameco Corp, in 2025: 311.3 m · Δ +23.0% (2024).

of which: selling and marketing--19.4 m0.6%17.6 m0.7%----10.9 m0.6%
2.90 bn83.3%+10.4%2.63 bn83.7%2.30 bn89.1%1.85 bn99.2%1.61 bn109%1.88 bn104%

The sum of all costs: cost of product plus operating expenses. At Cameco Corp, in 2025: 2.90 bn · Δ +10.4% (2024).

349.4 m10.0%−36.8%553.2 m17.6%499.1 m19.3%218.2 m11.7%138.1 m9.4%448.8 m24.9%

The sum of expenses that do not go directly into the product. At Cameco Corp, in 2025: 349.4 m · Δ −36.8% (2024).

580.4 m16.7%+13.8%510.1 m16.3%282.9 m10.9%15.1 m0.8%−136.2 m-9.2%−78.7 m-4.4%

Profit from the core business, before interest and tax. At Cameco Corp, in 2025: 580.4 m · Δ +13.8% (2024).

operating margin16.7%16.7%16.3%16.3%10.9%10.9%0.8%0.8%-9.2%-9.2%-4.4%-4.4%
885.3 m25.4%+12.2%789.3 m25.2%799.5 m30.9%331.2 m17.7%147.3 m10.0%184.2 m10.2%

Profit before interest, tax and depreciation. Close to the cash the business produces. At Cameco Corp, in 2025: 885.3 m · Δ +12.2% (2024).

580.4 m16.7%+22.2%474.9 m15.1%579.2 m22.4%153.8 m8.2%−43.1 m-2.9%−37.1 m-2.1%

Profit before interest and tax. At Cameco Corp, in 2025: 580.4 m · Δ +22.2% (2024).

Depreciation and amortisation304.9 m8.8%−3.0%314.4 m10.0%220.3 m8.5%177.4 m9.5%190.4 m12.9%221.3 m12.3%
Reconciled depreciation293.1 m8.4%+4.4%280.7 m9.0%202.2 m7.8%177.4 m9.5%190.4 m12.9%208.7 m11.6%
Interest income23.2 m0.7%+9.2%21.2 m0.7%114.2 m4.4%92.6 m5.0%6.8 m0.5%10.8 m0.6%
Interest expense74.5 m2.1%−32.8%110.9 m3.5%76.3 m2.9%56.2 m3.0%55.6 m3.8%81.9 m4.6%
Net interest income−92.0 m-2.6%+26.9%−125.9 m-4.0%21.6 m0.8%−48.2 m-2.6%−69.8 m-4.7%−85.3 m-4.7%
196.2 m5.6%+177%−253.4 m-8.1%204.3 m7.9%69.7 m3.7%32.4 m2.2%39.2 m2.2%

The balance of all non-operating income and expense. At Cameco Corp, in 2025: 196.2 m · Δ +177% (2024).

776.6 m22.3%+203%256.7 m8.2%487.2 m18.8%84.8 m4.5%−103.9 m-7.0%−39.5 m-2.2%

Profit left after interest, but before the state takes its share. At Cameco Corp, in 2025: 776.6 m · Δ +203% (2024).

187.6 m5.4%+121%84.9 m2.7%126.3 m4.9%−4.5 m-0.2%−1.2 m-0.1%13.7 m0.8%

Income tax owed for the period. At Cameco Corp, in 2025: 187.6 m · Δ +121% (2024).

Tax provision187.7 m5.4%+121%84.9 m2.7%95.3 m3.7%−4.5 m-0.2%−1.2 m-0.1%13.7 m0.8%
Minority interest35.0 k0.0%+218%11.0 k0.0%24.0 k0.0%118.0 k0.0%77.0 k0.0%206.0 k0.0%
589.5 m16.9%+243%171.8 m5.5%265.3 m10.3%89.3 m4.8%−102.7 m-7.0%−53.2 m-3.0%

Profit from the businesses the company will still have next year. At Cameco Corp, in 2025: 589.5 m · Δ +243% (2024).

589.1 m16.9%+243%171.9 m5.5%360.8 m13.9%89.4 m4.8%−102.6 m-7.0%−53.2 m-3.0%

The profit left for shareholders after absolutely every expense. At Cameco Corp, in 2025: 589.1 m · Δ +243% (2024).

net margin16.9%16.9%5.5%5.5%13.9%13.9%4.8%4.8%-7.0%-7.0%-3.0%-3.0%
589.6 m16.9%+243%171.9 m5.5%360.8 m13.9%89.4 m4.8%−102.6 m-7.0%−53.2 m-3.0%

The share of profit that belongs to ordinary shares. At Cameco Corp, in 2025: 589.6 m · Δ +243% (2024).

revenue845.4 m+7.1%Q2 24Q1 26Q2 24598.5 mQ3 24720.6 mQ4 241.18 bnQ1 25789.4 mQ2 25877.0 mQ3 25614.6 mQ4 251.20 bnQ1 26845.4 m
operating income164.1 m−11.7%Q2 24Q1 26Q2 24102.0 mQ3 24100.3 mQ4 24181.0 mQ1 25185.8 mQ2 25166.0 mQ3 2593.0 mQ4 25163.6 mQ1 26164.1 m
net income131.1 m+87.9%Q2 24Q1 26Q2 2436.0 mQ3 247.4 mQ4 24135.5 mQ1 2569.8 mQ2 25320.9 mQ3 25−141.0 kQ4 25198.9 mQ1 26131.1 m
Income statement, quarterly, 6 periods
 Q1 26Δ Q1 25Q4 25Q3 25Q2 25Q1 25Q4 24
845.4 m100%+7.1%1.20 bn100%614.6 m100%877.0 m100%789.4 m100%1.18 bn100%

Everything the company collected from sales, before any expense. At Cameco Corp, in Q1 26: 845.4 m · Δ +7.1% (Q1 25).

543.8 m64.3%+4.7%933.1 m77.8%385.2 m62.7%619.9 m70.7%519.3 m65.8%933.6 m78.9%

What it cost to produce what was sold: materials, labour, the factory. At Cameco Corp, in Q1 26: 543.8 m · Δ +4.7% (Q1 25).

301.6 m35.7%+11.6%266.9 m22.2%229.4 m37.3%257.1 m29.3%270.1 m34.2%249.6 m21.1%

What is left from sales after the direct cost of the product, before admin salaries and research. At Cameco Corp, in Q1 26: 301.6 m · Δ +11.6% (Q1 25).

gross margin35.7%35.7%22.2%22.2%37.3%37.3%29.3%29.3%34.2%34.2%21.1%21.1%
13.9 m1.6%−0.6%14.9 m1.2%10.3 m1.7%708.0 k0.1%14.0 m1.8%10.4 m0.9%

Money put into tomorrow’s products: research, engineering, software. At Cameco Corp, in Q1 26: 13.9 m · Δ −0.6% (Q1 25).

122.5 m14.5%+108%88.5 m7.4%67.5 m11.0%96.4 m11.0%58.8 m7.5%76.7 m6.5%

Sales and admin salaries, marketing, rent, everything that keeps the company running. At Cameco Corp, in Q1 26: 122.5 m · Δ +108% (Q1 25).

of which: selling and marketing----8.0 m1.3%----4.0 m0.3%
681.2 m80.6%+12.9%1.04 bn86.4%521.5 m84.9%711.1 m81.1%603.6 m76.5%1.00 bn84.7%

The sum of all costs: cost of product plus operating expenses. At Cameco Corp, in Q1 26: 681.2 m · Δ +12.9% (Q1 25).

137.4 m16.3%+63.0%103.3 m8.6%136.3 m22.2%91.1 m10.4%84.3 m10.7%68.6 m5.8%

The sum of expenses that do not go directly into the product. At Cameco Corp, in Q1 26: 137.4 m · Δ +63.0% (Q1 25).

164.1 m19.4%−11.7%163.6 m13.6%93.0 m15.1%166.0 m18.9%185.8 m23.5%181.0 m15.3%

Profit from the core business, before interest and tax. At Cameco Corp, in Q1 26: 164.1 m · Δ −11.7% (Q1 25).

operating margin19.4%19.4%13.6%13.6%15.1%15.1%18.9%18.9%23.5%23.5%15.3%15.3%
252.8 m29.9%+20.8%250.4 m20.9%91.2 m14.8%500.8 m57.1%209.2 m26.5%263.8 m22.3%

Profit before interest, tax and depreciation. Close to the cash the business produces. At Cameco Corp, in Q1 26: 252.8 m · Δ +20.8% (Q1 25).

185.7 m22.0%+24.9%163.6 m13.6%21.8 m3.5%414.4 m47.2%148.6 m18.8%159.3 m13.5%

Profit before interest and tax. At Cameco Corp, in Q1 26: 185.7 m · Δ +24.9% (Q1 25).

Depreciation and amortisation67.1 m7.9%+10.7%86.8 m7.2%69.4 m11.3%86.5 m9.9%60.6 m7.7%104.5 m8.8%
Reconciled depreciation67.1 m7.9%+10.7%86.9 m7.2%59.1 m9.6%86.5 m9.9%60.6 m7.7%104.5 m8.8%
Interest income10.0 m1.2%+171%7.3 m0.6%6.8 m1.1%239.9 m27.4%3.7 m0.5%3.1 m0.3%
Interest expense22.8 m2.7%+13.1%19.3 m1.6%17.8 m2.9%17.4 m2.0%20.1 m2.5%22.8 m1.9%
Net interest income−18.0 m-2.1%+31.9%−52.7 m-4.4%−10.9 m-1.8%−21.6 m-2.5%−26.4 m-3.3%−27.5 m-2.3%
−1.2 m-0.1%+98.0%82.7 m6.9%−77.3 m-12.6%226.0 m25.8%−62.7 m-7.9%−47.7 m-4.0%

The balance of all non-operating income and expense. At Cameco Corp, in Q1 26: −1.2 m · Δ +98.0% (Q1 25).

162.9 m19.3%+32.3%246.2 m20.5%15.7 m2.6%392.0 m44.7%123.2 m15.6%133.3 m11.3%

Profit left after interest, but before the state takes its share. At Cameco Corp, in Q1 26: 162.9 m · Δ +32.3% (Q1 25).

32.2 m3.8%−39.8%47.3 m3.9%15.9 m2.6%71.1 m8.1%53.4 m6.8%−2.1 m-0.2%

Income tax owed for the period. At Cameco Corp, in Q1 26: 32.2 m · Δ −39.8% (Q1 25).

Tax provision32.2 m3.8%−39.8%47.4 m3.9%15.9 m2.6%71.1 m8.1%53.4 m6.8%−2.1 m-0.2%
Minority interest1.0 k0.0%−91.7%3.0 k0.0%17.0 k0.0%3.0 k0.0%12.0 k0.0%4.0 k0.0%
130.8 m15.5%+87.4%199.1 m16.6%−158.0 k0.0%320.9 m36.6%69.8 m8.8%135.5 m11.4%

Profit from the businesses the company will still have next year. At Cameco Corp, in Q1 26: 130.8 m · Δ +87.4% (Q1 25).

131.1 m15.5%+87.9%198.9 m16.6%−141.0 k0.0%320.9 m36.6%69.8 m8.8%135.5 m11.4%

The profit left for shareholders after absolutely every expense. At Cameco Corp, in Q1 26: 131.1 m · Δ +87.9% (Q1 25).

net margin15.5%15.5%16.6%16.6%0.0%0.0%36.6%36.6%8.8%8.8%11.4%11.4%
--199.1 m16.6%−141.0 k0.0%320.9 m36.6%69.8 m8.8%135.5 m11.4%

The share of profit that belongs to ordinary shares.

total assets10.29 bn+3.9%2016202520168.25 bn20177.78 bn20188.02 bn20197.43 bn20207.58 bn20217.52 bn20228.63 bn20239.93 bn20249.91 bn202510.29 bn
total liabilities3.40 bn−4.2%2016202520162.99 bn20172.92 bn20183.03 bn20192.43 bn20202.62 bn20212.67 bn20222.80 bn20233.84 bn20243.54 bn20253.40 bn
shareholders equity6.90 bn+8.4%2016202520165.26 bn20174.86 bn20184.99 bn20194.99 bn20204.96 bn20214.85 bn20225.84 bn20236.09 bn20246.36 bn20256.90 bn
Balance sheet, annual, 6 periods
 2025Δ 202420242023202220212020
10.29 bn100%+3.9%9.91 bn100%9.93 bn100%8.63 bn100%7.52 bn100%7.58 bn100%

Everything the company owns: factories, inventory, cash, receivables. At Cameco Corp, in 2025: 10.29 bn · Δ +3.9% (2024).

2.64 bn25.6%+37.1%1.92 bn19.4%1.84 bn18.5%3.32 bn38.5%2.14 bn28.5%1.95 bn25.7%

What turns into money in less than a year. At Cameco Corp, in 2025: 2.64 bn · Δ +37.1% (2024).

Cash1.11 bn10.8%+85.5%600.5 m6.1%566.8 m5.7%904.7 m10.5%1.01 bn13.5%728.2 m9.6%
Cash and equivalents309.0 m3.0%−21.9%395.7 m4.0%337.1 m3.4%441.9 m5.1%642.9 m8.6%414.9 m5.5%
Short-term investments99.5 m1.0%00.0%00.0%1.14 bn13.2%84.9 m1.1%25.0 m0.3%
Cash and short-term investments1.21 bn11.8%+102%600.5 m6.1%566.8 m5.7%2.04 bn23.7%1.10 bn14.6%753.2 m9.9%
Net receivables372.0 m3.6%+20.2%309.6 m3.1%433.5 m4.4%217.2 m2.5%304.3 m4.0%231.9 m3.1%
Inventory843.3 m8.2%−13.3%972.3 m9.8%841.6 m8.5%822.6 m9.5%504.9 m6.7%769.8 m10.2%
Other current assets208.3 m2.0%+409%40.9 m0.4%19.7 m0.2%239.0 m2.8%233.3 m3.1%190.1 m2.5%
7.66 bn74.4%−4.1%7.98 bn80.6%8.09 bn81.5%5.31 bn61.5%5.38 bn71.5%5.64 bn74.3%

What stays in the company for years: buildings, machinery, licences. At Cameco Corp, in 2025: 7.66 bn · Δ −4.1% (2024).

Property, plant and equipment3.33 bn32.3%+1.2%3.29 bn33.2%3.37 bn33.9%3.47 bn40.2%3.58 bn47.6%3.77 bn49.8%
PP&E, net3.32 bn32.3%+1.1%3.29 bn33.2%3.37 bn33.9%3.47 bn40.2%3.58 bn47.6%3.77 bn49.8%
9.95 bn96.7%+2.2%9.74 bn98.3%9.52 bn95.8%9.43 bn109%9.21 bn123%3.77 bn49.8%

The purchase value of buildings and machinery, before accumulated depreciation. That is why it exceeds the net value. At Cameco Corp, in 2025: 9.95 bn · Δ +2.2% (2024).

Intangible assets36.1 m0.4%−9.3%39.8 m0.4%43.6 m0.4%47.1 m0.5%51.2 m0.7%55.8 m0.7%
Long-term investments2.99 bn29.0%−7.2%3.22 bn32.5%3.79 bn38.1%211.0 m2.4%233.2 m3.1%219.7 m2.9%
Other non-current assets634.5 m6.2%+6.5%595.9 m6.0%613.8 m6.2%595.5 m6.9%577.5 m7.7%652.0 m8.6%
Other assets678.7 m6.6%−19.5%843.2 m8.5%912.2 m9.2%984.1 m11.4%1.52 bn20.2%1.59 bn21.0%
3.40 bn33.0%−4.2%3.54 bn35.8%3.84 bn38.7%2.80 bn32.4%2.67 bn35.5%2.62 bn34.6%

Everything the company owes, to banks and suppliers alike. At Cameco Corp, in 2025: 3.40 bn · Δ −4.2% (2024).

1.07 bn10.4%−9.8%1.19 bn12.0%1.19 bn12.0%560.8 m6.5%413.7 m5.5%303.8 m4.0%

Debts due in less than a year. At Cameco Corp, in 2025: 1.07 bn · Δ −9.8% (2024).

Accounts payable190.6 m1.9%+46.8%129.8 m1.3%368.8 m3.7%250.0 m2.9%213.4 m2.8%137.2 m1.8%
Short-term debt3.3 m0.0%−98.8%289.2 m2.9%499.8 m5.0%2.7 m0.0%2.7 m0.0%26.1 m0.3%
Current portion of long-term debt--285.7 m2.9%499.8 m5.0%----26.1 m0.3%
Deferred revenue----24.1 m0.2%−2.7 m0.0%−2.7 m0.0%114.4 m1.5%
Other current liabilities875.4 m8.5%+17.4%745.5 m7.5%296.4 m3.0%310.9 m3.6%200.4 m2.7%26.1 m0.3%
2.33 bn22.6%−1.3%2.36 bn23.8%2.65 bn26.7%2.24 bn25.9%2.26 bn30.0%2.32 bn30.6%

Debts due beyond one year. At Cameco Corp, in 2025: 2.33 bn · Δ −1.3% (2024).

Long-term debt996.3 m9.7%+0.1%995.6 m10.0%1.28 bn12.9%997.0 m11.5%996.3 m13.3%995.5 m13.1%
Total long-term debt996.3 m9.7%+0.1%995.6 m10.0%1.28 bn12.9%997.0 m11.5%996.3 m13.3%1.00 bn13.2%
Other non-current liabilities378.0 m3.7%+4.0%363.5 m3.7%343.4 m3.5%216.2 m2.5%171.8 m2.3%166.6 m2.2%
Other liabilities------1.15 bn13.3%1.24 bn16.5%1.31 bn17.3%
6.90 bn67.0%+8.4%6.36 bn64.2%6.09 bn61.3%5.84 bn67.6%4.85 bn64.5%4.96 bn65.4%

What would be left for shareholders if everything were sold and every debt paid. At Cameco Corp, in 2025: 6.90 bn · Δ +8.4% (2024).

2.94 bn28.5%2.94 bn29.6%2.91 bn29.3%2.88 bn33.4%1.90 bn25.3%1.87 bn24.7%

Money put in by shareholders at founding and at capital raises. At Cameco Corp, in 2025: 2.94 bn.

2.94 bn28.5%+0.1%2.94 bn29.6%2.91 bn29.3%2.88 bn33.4%1.90 bn25.3%1.87 bn24.7%

Capital subscribed by shareholders. At Cameco Corp, in 2025: 2.94 bn · Δ +0.1% (2024).

211.4 m2.1%+0.3%210.8 m2.1%215.7 m2.2%224.7 m2.6%230.0 m3.1%237.4 m3.1%

What was paid above the nominal value of the shares. At Cameco Corp, in 2025: 211.4 m · Δ +0.3% (2024).

3.61 bn35.0%+16.3%3.10 bn31.3%2.98 bn30.0%2.70 bn31.2%2.64 bn35.1%2.74 bn36.1%

Past years’ profits the company kept instead of distributing. At Cameco Corp, in 2025: 3.61 bn · Δ +16.3% (2024).

Accumulated other comprehensive income144.8 m1.4%+21.8%118.9 m1.2%−15.3 m-0.2%34.7 m0.4%72.8 m1.0%115.5 m1.5%
Other equity items211.2 m2.1%+0.2%210.8 m2.1%200.4 m2.0%224.7 m2.6%230.0 m3.1%237.4 m3.1%
Common stock, total----------1.87 bn24.7%
10.29 bn100%+3.9%9.91 bn100%9.93 bn100%8.63 bn100%7.52 bn100%7.58 bn100%

Liabilities plus equity. Must equal total assets. At Cameco Corp, in 2025: 10.29 bn · Δ +3.9% (2024).

−91.9 m-0.9%−113%695.6 m7.0%1.22 bn12.3%92.3 m1.1%−17.9 m-0.2%267.3 m3.5%

Debt left after subtracting cash in the bank. Negative means more money than debt. At Cameco Corp, in 2025: −91.9 m · Δ −113% (2024).

1.02 bn9.9%−21.1%1.30 bn13.1%1.78 bn18.0%999.7 m11.6%999.0 m13.3%1.03 bn13.6%

All borrowings, short and long term. At Cameco Corp, in 2025: 1.02 bn · Δ −21.1% (2024).

1.57 bn15.2%+113%737.4 m7.4%652.8 m6.6%2.76 bn32.0%1.73 bn23.0%1.64 bn21.7%

The difference between what it collects and what it pays in the short term. At Cameco Corp, in 2025: 1.57 bn · Δ +113% (2024).

------5.79 bn67.1%4.79 bn63.8%4.90 bn64.7%

Assets without goodwill and licences, that is only what can be touched.

7.90 bn76.7%+3.3%7.65 bn77.2%7.88 bn79.3%6.83 bn79.2%5.84 bn77.7%5.95 bn78.5%

The capital the business actually has at work. At Cameco Corp, in 2025: 7.90 bn · Δ +3.3% (2024).

435.6 m-−0.1%436.0 m-435.4 m-407.1 m-397.6 m-395.8 m-

How many shares exist. If the number rises, each shareholder’s slice shrinks. At Cameco Corp, in 2025: 435.6 m · Δ −0.1% (2024).

total assets7.27 bn−22.6%Q2 24Q1 26Q2 249.38 bnQ3 249.29 bnQ4 249.91 bnQ1 259.38 bnQ2 259.58 bnQ3 259.74 bnQ4 2510.29 bnQ1 267.27 bn
total liabilities2.19 bn−24.4%Q2 24Q1 26Q2 243.19 bnQ3 243.08 bnQ4 243.54 bnQ1 252.89 bnQ2 252.84 bnQ3 252.96 bnQ4 253.40 bnQ1 262.19 bn
shareholders equity5.08 bn−21.8%Q2 24Q1 26Q2 246.19 bnQ3 246.21 bnQ4 246.36 bnQ1 256.49 bnQ2 256.74 bnQ3 256.78 bnQ4 256.90 bnQ1 265.08 bn
Balance sheet, quarterly, 6 periods
 Q1 26Δ Q1 25Q4 25Q3 25Q2 25Q1 25Q4 24
7.27 bn100%−22.6%10.29 bn100%9.74 bn100%9.58 bn100%9.38 bn100%9.91 bn100%

Everything the company owns: factories, inventory, cash, receivables. At Cameco Corp, in Q1 26: 7.27 bn · Δ −22.6% (Q1 25).

1.61 bn22.1%+7.2%2.64 bn25.6%1.89 bn19.4%1.80 bn18.8%1.50 bn16.0%1.92 bn19.4%

What turns into money in less than a year. At Cameco Corp, in Q1 26: 1.61 bn · Δ +7.2% (Q1 25).

Cash772.9 m10.6%+114%1.11 bn10.8%778.7 m8.0%716.3 m7.5%361.5 m3.9%600.5 m6.1%
Cash and equivalents--309.0 m3.0%229.9 m2.4%263.8 m2.8%95.0 m1.0%395.7 m4.0%
Short-term investments24.9 m0.3%99.5 m1.0%------00.0%
Cash and short-term investments797.8 m11.0%+121%1.21 bn11.8%778.7 m8.0%716.3 m7.5%361.5 m3.9%600.5 m6.1%
Net receivables140.4 m1.9%−24.3%372.0 m3.6%190.9 m2.0%351.5 m3.7%185.4 m2.0%309.6 m3.1%
Inventory518.6 m7.1%−45.6%843.3 m8.2%900.0 m9.2%734.2 m7.7%953.2 m10.2%972.3 m9.8%
Other current assets151.9 m2.1%+101,828%208.3 m2.0%18.9 m0.2%16.3 m0.2%149.0 k0.0%40.9 m0.4%
5.66 bn77.9%−28.3%7.66 bn74.4%7.85 bn80.6%7.78 bn81.2%7.88 bn84.0%7.98 bn80.6%

What stays in the company for years: buildings, machinery, licences. At Cameco Corp, in Q1 26: 5.66 bn · Δ −28.3% (Q1 25).

Property, plant and equipment--3.33 bn32.3%3.31 bn34.0%3.26 bn34.0%3.28 bn34.9%3.29 bn33.2%
PP&E, net2.42 bn33.3%−26.3%3.32 bn32.3%3.31 bn34.0%3.26 bn34.0%3.28 bn34.9%3.29 bn33.2%
--9.95 bn96.7%------9.74 bn98.3%

The purchase value of buildings and machinery, before accumulated depreciation. That is why it exceeds the net value.

Intangible assets25.3 m0.3%−35.3%36.1 m0.4%37.1 m0.4%37.8 m0.4%39.1 m0.4%39.8 m0.4%
Long-term investments3.02 bn41.5%−5.1%2.99 bn29.0%3.14 bn32.2%3.11 bn32.4%3.18 bn33.9%3.22 bn32.5%
Other non-current assets586.0 m8.1%−1.9%634.5 m6.2%1.36 bn14.0%659.6 m6.9%597.1 m6.4%595.9 m6.0%
Other assets--678.7 m6.6%706.5 m7.3%744.2 m7.8%789.0 m8.4%843.2 m8.5%
2.19 bn30.1%−24.4%3.40 bn33.0%2.96 bn30.4%2.84 bn29.6%2.89 bn30.8%3.54 bn35.8%

Everything the company owes, to banks and suppliers alike. At Cameco Corp, in Q1 26: 2.19 bn · Δ −24.4% (Q1 25).

522.7 m7.2%−5.7%1.07 bn10.4%631.4 m6.5%608.9 m6.4%554.6 m5.9%1.19 bn12.0%

Debts due in less than a year. At Cameco Corp, in Q1 26: 522.7 m · Δ −5.7% (Q1 25).

Accounts payable316.6 m4.4%−8.5%870.6 m8.5%402.7 m4.1%434.9 m4.5%346.2 m3.7%129.8 m1.3%
Short-term debt--3.3 m0.0%00.0%00.0%00.0%289.2 m2.9%
Current portion of long-term debt----------285.7 m2.9%
Other current liabilities206.0 m2.8%−0.8%195.3 m1.9%228.7 m2.3%173.5 m1.8%207.6 m2.2%745.5 m7.5%
1.66 bn22.9%−28.8%2.33 bn22.6%2.33 bn23.9%2.23 bn23.3%2.34 bn24.9%2.36 bn23.8%

Debts due beyond one year. At Cameco Corp, in Q1 26: 1.66 bn · Δ −28.8% (Q1 25).

Long-term debt996.5 m13.7%+0.1%996.3 m9.7%996.2 m10.2%996.0 m10.4%995.7 m10.6%995.6 m10.0%
Total long-term debt--996.3 m9.7%996.2 m10.2%996.0 m10.4%995.7 m10.6%995.6 m10.0%
Other non-current liabilities353.8 m4.9%+4.5%378.0 m3.7%358.6 m3.7%281.5 m2.9%338.6 m3.6%363.5 m3.7%
5.08 bn69.9%−21.8%6.90 bn67.0%6.78 bn69.6%6.74 bn70.4%6.49 bn69.2%6.36 bn64.2%

What would be left for shareholders if everything were sold and every debt paid. At Cameco Corp, in Q1 26: 5.08 bn · Δ −21.8% (Q1 25).

2.11 bn29.1%−28.0%2.94 bn28.5%2.94 bn30.2%2.94 bn30.7%2.94 bn31.3%2.94 bn29.6%

Money put in by shareholders at founding and at capital raises. At Cameco Corp, in Q1 26: 2.11 bn · Δ −28.0% (Q1 25).

2.94 bn40.5%+0.1%2.94 bn28.5%2.94 bn30.2%2.94 bn30.7%2.94 bn31.3%2.94 bn29.6%

Capital subscribed by shareholders. At Cameco Corp, in Q1 26: 2.94 bn · Δ +0.1% (Q1 25).

--211.4 m2.1%208.9 m2.1%206.6 m2.2%204.5 m2.2%210.8 m2.1%

What was paid above the nominal value of the shares.

2.69 bn37.0%−15.2%3.61 bn35.0%3.49 bn35.8%3.49 bn36.4%3.17 bn33.8%3.10 bn31.3%

Past years’ profits the company kept instead of distributing. At Cameco Corp, in Q1 26: 2.69 bn · Δ −15.2% (Q1 25).

Accumulated other comprehensive income141.8 m2.0%144.8 m1.4%144.7 m1.5%108.2 m1.1%--118.9 m1.2%
Other equity items135.1 m1.9%−65.1%211.2 m2.1%208.9 m2.1%206.6 m2.2%387.3 m4.1%210.8 m2.1%
7.27 bn100%−22.6%10.29 bn100%9.74 bn100%9.58 bn100%9.38 bn100%9.91 bn100%

Liabilities plus equity. Must equal total assets. At Cameco Corp, in Q1 26: 7.27 bn · Δ −22.6% (Q1 25).

−56.5 m-0.8%−109%−91.9 m-0.9%228.5 m2.3%291.1 m3.0%634.3 m6.8%695.6 m7.0%

Debt left after subtracting cash in the bank. Negative means more money than debt. At Cameco Corp, in Q1 26: −56.5 m · Δ −109% (Q1 25).

716.4 m9.9%−28.0%1.02 bn9.9%1.01 bn10.3%1.01 bn10.5%995.7 m10.6%1.30 bn13.1%

All borrowings, short and long term. At Cameco Corp, in Q1 26: 716.4 m · Δ −28.0% (Q1 25).

1.51 bn20.8%+59.8%1.57 bn15.2%1.26 bn12.9%1.19 bn12.5%945.6 m10.1%737.4 m7.4%

The difference between what it collects and what it pays in the short term. At Cameco Corp, in Q1 26: 1.51 bn · Δ +59.8% (Q1 25).

8.06 bn111%+7.7%7.90 bn76.7%7.78 bn79.8%7.74 bn80.8%7.49 bn79.8%7.65 bn77.2%

The capital the business actually has at work. At Cameco Corp, in Q1 26: 8.06 bn · Δ +7.7% (Q1 25).

435.6 m-435.5 m-435.4 m-435.5 m-435.5 m-436.4 m-

How many shares exist. If the number rises, each shareholder’s slice shrinks. At Cameco Corp, in Q1 26: 435.6 m.

from operations1.35 bn+49.6%201620252016312.4 m2017596.1 m2018667.5 m2019527.0 m202056.9 m2021458.3 m2022304.6 m2023688.1 m2024905.3 m20251.35 bn
from investing−433.2 m−110%201620252016−217.8 m2017−93.1 m2018−411.6 m2019437.4 m2020−101.0 m2021−80.3 m2022−1.29 bn2023−2.04 bn2024−206.4 m2025−433.2 m
from financing−390.0 m+43.4%201620252016−228.8 m2017−227.8 m2018−144.2 m2019−606.9 m2020−98.0 m2021−46.8 m2022869.3 m2023748.8 m2024−688.4 m2025−390.0 m
Cash flows, annual, 6 periods
 2025Δ 202420242023202220212020
589.1 m-+243%171.8 m-360.8 m-89.3 m-−102.7 m-−53.2 m-

The profit left for shareholders after absolutely every expense. At Cameco Corp, in 2025: 589.1 m · Δ +243% (2024).

304.9 m-−3.8%316.9 m-220.3 m-177.4 m-190.4 m-208.7 m-

The accounting wear on buildings and machinery. It lowers profit but takes no cash out. At Cameco Corp, in 2025: 304.9 m · Δ −3.8% (2024).

9.7 m-−80.2%48.9 m-3.7 m-3.3 m-4.5 m-6.6 m-

Shares given to employees instead of money. No cash cost, but it dilutes shareholders. At Cameco Corp, in 2025: 9.7 m · Δ −80.2% (2024).

------128.3 m-61.2 m-79.9 m-

Adjustments that bring accounting profit closer to money collected.

208.4 m-+383%−73.6 m-−26.6 m-−110.4 m-310.5 m-−200.7 m-

Money tied up in or released from inventory, receivables and payables. At Cameco Corp, in 2025: 208.4 m · Δ +383% (2024).

of which: receivables−15.2 m-−119%78.6 m-−242.4 m-99.6 m-−75.7 m-143.7 m-
of which: inventory44.2 m-+140%−111.5 m-38.4 m-−226.4 m-294.4 m-−380.9 m-
of which: liabilities------16.4 m-91.8 m-36.5 m-
of which: other changes------−9.1 m-−23.2 m-7.8 m-
Other non-cash items75.5 m-−82.9%441.3 m-3.5 m-149.5 m-56.7 m-81.9 m-
1.35 bn-+49.6%905.3 m-688.1 m-304.6 m-458.3 m-56.9 m-

The money the business actually produced, before investment. At Cameco Corp, in 2025: 1.35 bn · Δ +49.6% (2024).

332.8 m-+57.2%211.6 m-153.6 m-143.4 m-98.8 m-77.5 m-

Money put into factories, machinery and equipment. At Cameco Corp, in 2025: 332.8 m · Δ +57.2% (2024).

−99.6 m-+51.8%−206.4 m-266.2 m-−1.29 bn-−59.9 m-−101.0 m-

Purchases and sales of financial holdings. At Cameco Corp, in 2025: −99.6 m · Δ +51.8% (2024).

Other investing flows−1.1 m-−122%5.2 m-1.14 bn-−1.15 bn-73.1 m-907.0 k-
−433.2 m-−110%−206.4 m-−2.04 bn-−1.29 bn-−80.3 m-−101.0 m-

The balance of investing cash. Negative means the company is building. At Cameco Corp, in 2025: −433.2 m · Δ −110% (2024).

2.2 m-−87.0%16.7 m-1.63 bn-962.9 m-26.8 m-5.4 m-

Shares bought back from the market or issued. At Cameco Corp, in 2025: 2.2 m · Δ −87.0% (2024).

2.2 m-−87.0%16.7 m-967.0 m-9.6 m-26.8 m-5.4 m-

Money raised by issuing new shares. At Cameco Corp, in 2025: 2.2 m · Δ −87.0% (2024).

104.4 m-+49.9%69.6 m-52.1 m-51.9 m-31.8 m-31.6 m-

Money given to shareholders as dividends. At Cameco Corp, in 2025: 104.4 m · Δ +49.9% (2024).

−288.0 m-+47.3%−546.6 m-814.2 m-−2.9 m-−2.7 m-−6.2 m-

Loans taken minus loans repaid. At Cameco Corp, in 2025: −288.0 m · Δ +47.3% (2024).

Other financing flows−2.7 m-+96.9%−88.8 m-−40.8 m-914.4 m-−39.0 m-332.0 m-
−390.0 m-+43.4%−688.4 m-748.8 m-869.3 m-−46.8 m-−98.0 m-

The balance of financing cash: loans, dividends, buybacks. At Cameco Corp, in 2025: −390.0 m · Δ +43.4% (2024).

541.4 m-+1,509%33.7 m-−576.9 m-−103.8 m-329.1 m-−144.0 m-

How much the cash in the bank rose or fell. At Cameco Corp, in 2025: 541.4 m · Δ +1,509% (2024).

572.5 m-+1.0%566.8 m-1.14 bn-1.25 bn-918.4 m-1.06 bn-

Cash in the bank at the start of the period. At Cameco Corp, in 2025: 572.5 m · Δ +1.0% (2024).

1.11 bn-+85.5%600.5 m-566.8 m-1.14 bn-1.25 bn-918.4 m-

Cash in the bank at the end of the period. At Cameco Corp, in 2025: 1.11 bn · Δ +85.5% (2024).

1.02 bn-+47.3%693.7 m-534.5 m-161.2 m-359.5 m-−20.6 m-

The money left after the business paid for its investments. Dividends and debt repayment come from here. At Cameco Corp, in 2025: 1.02 bn · Δ +47.3% (2024).

from operations−22.3 m−120%Q2 24Q1 26Q2 24154.7 mQ3 2452.3 mQ4 24529.7 mQ1 25110.2 mQ2 25465.2 mQ3 25155.7 mQ4 25655.3 mQ1 26−22.3 m
from investing−12.7 m+77.8%Q2 24Q1 26Q2 24−29.1 mQ3 24−60.3 mQ4 24−66.3 mQ1 25−57.4 mQ2 25−73.9 mQ3 25−93.6 mQ4 25−208.4 mQ1 26−12.7 m
from financing−4.4 m+98.5%Q2 24Q1 26Q2 24−91.7 mQ3 24−149.3 mQ4 24−94.5 mQ1 25−291.6 mQ2 25−21.5 mQ3 25−4.2 mQ4 25−104.0 mQ1 26−4.4 m
Cash flows, quarterly, 6 periods
 Q1 26Δ Q1 25Q4 25Q3 25Q2 25Q1 25Q4 24
130.8 m-+87.4%198.9 m-−141.0 k-320.9 m-69.8 m-135.5 m-

The profit left for shareholders after absolutely every expense. At Cameco Corp, in Q1 26: 130.8 m · Δ +87.4% (Q1 25).

67.1 m-+10.7%86.8 m-69.4 m-86.5 m-60.6 m-112.3 m-

The accounting wear on buildings and machinery. It lowers profit but takes no cash out. At Cameco Corp, in Q1 26: 67.1 m · Δ +10.7% (Q1 25).

2.9 m-+38.1%2.8 m-23.2 m-2.4 m-2.1 m-18.0 m-

Shares given to employees instead of money. No cash cost, but it dilutes shareholders. At Cameco Corp, in Q1 26: 2.9 m · Δ +38.1% (Q1 25).

−141.1 m-−76.0%202.0 m-64.4 m-107.8 m-−80.2 m-−35.6 m-

Money tied up in or released from inventory, receivables and payables. At Cameco Corp, in Q1 26: −141.1 m · Δ −76.0% (Q1 25).

of which: receivables190.8 m-−3.3%−168.9 m-100.4 m-−143.9 m-197.3 m-−40.0 m-
of which: inventory124.2 m-+1,123%−130.1 m-−34.8 m-162.8 m-10.2 m-33.5 m-
Other non-cash items−114.1 m-−2,625%132.9 m-−1.1 m-−123.4 m-4.5 m-299.6 m-
−22.3 m-−120%655.3 m-155.7 m-465.2 m-110.2 m-529.7 m-

The money the business actually produced, before investment. At Cameco Corp, in Q1 26: −22.3 m · Δ −120% (Q1 25).

77.7 m-+37.7%109.0 m-92.5 m-74.9 m-56.5 m-64.4 m-

Money put into factories, machinery and equipment. At Cameco Corp, in Q1 26: 77.7 m · Δ +37.7% (Q1 25).

65.0 m-+213%--−93.6 m-−73.9 m-−57.4 m-−66.3 m-

Purchases and sales of financial holdings. At Cameco Corp, in Q1 26: 65.0 m · Δ +213% (Q1 25).

Other investing flows--−100.5 m-−1.1 m-987.0 k-−931.0 k-−1.9 m-
−12.7 m-+77.8%−208.4 m-−93.6 m-−73.9 m-−57.4 m-−66.3 m-

The balance of investing cash. Negative means the company is building. At Cameco Corp, in Q1 26: −12.7 m · Δ +77.8% (Q1 25).

--2.2 m-1.4 m-1.1 m-73.0 k-16.7 m-

Shares bought back from the market or issued.

1.1 m-+1,470%773.0 k-300.0 k-1.0 m-73.0 k-1.9 m-

Money raised by issuing new shares. At Cameco Corp, in Q1 26: 1.1 m · Δ +1,470% (Q1 25).

0-104.4 m-0-0-0-69.6 m-

Money given to shareholders as dividends. At Cameco Corp, in Q1 26: 0.

−677.0 k-+99.8%−375.0 k-−628.0 k-−1.1 m-−285.8 m-−489.0 k-

Loans taken minus loans repaid. At Cameco Corp, in Q1 26: −677.0 k · Δ +99.8% (Q1 25).

Other financing flows−4.8 m-+17.5%−7.7 k-−3.6 m-−21.4 m-−5.9 m-−26.3 m-
−4.4 m-+98.5%−104.0 m-−4.2 m-−21.5 m-−291.6 m-−94.5 m-

The balance of financing cash: loans, dividends, buybacks. At Cameco Corp, in Q1 26: −4.4 m · Δ +98.5% (Q1 25).

−39.7 m-+83.4%346.8 m-62.4 m-354.8 m-−239.0 m-403.3 m-

How much the cash in the bank rose or fell. At Cameco Corp, in Q1 26: −39.7 m · Δ +83.4% (Q1 25).

1.11 bn-+85.7%767.1 m-716.3 m-361.5 m-600.5 m-197.1 m-

Cash in the bank at the start of the period. At Cameco Corp, in Q1 26: 1.11 bn · Δ +85.7% (Q1 25).

1.08 bn-+197%1.11 bn-778.7 m-716.3 m-361.5 m-600.5 m-

Cash in the bank at the end of the period. At Cameco Corp, in Q1 26: 1.08 bn · Δ +197% (Q1 25).

−100.0 m-−286%546.3 m-63.2 m-390.3 m-53.7 m-465.3 m-

The money left after the business paid for its investments. Dividends and debt repayment come from here. At Cameco Corp, in Q1 26: −100.0 m · Δ −286% (Q1 25).

Cameco quarterly results: estimates, surprises and the stock's reaction

What analysts expect from the next report, how often Cameco has beaten estimates and how the price moved after results.

When does Cameco report its next results?

Date not announced

The last announced date, July 31, 2026, has passed.

The results will cover the quarter ending June 30, 2026. The analysts' earnings estimate is almost unchanged from 90 days ago.

Expected earnings per share
$0.36

between $0.26 and $0.45

Expected revenue
$0.82 bn

6 analysts

Versus 90 days ago
+0.7%

from $0.36 to $0.36

Fiscal year 2027
$2.65

earnings per share, 19 analysts

Worth watching

How often has Cameco beaten analyst estimates?

4 of 8 reports

Cameco reported earnings above estimates in 4 of the last 8 quarters.

The average surprise was +6.6%. Last time, earnings per share came in at $0.47, against $0.34 expected.

How far earnings per share came in above or below the estimate

  • -46.2%Q2 24
  • 0.0%Q3 24
  • +12.9%Q4 24
  • -15.8%Q1 25
  • +36.5%Q2 25
  • 0.0%Q3 25
  • +13.6%Q4 25
  • +38.2%Q1 26

Worth watching

How does Cameco stock react to earnings?

-0.84%

On average, the stock fell the day after results.

It rose after 3 of the 8 reports.

  • May 5, 2026+38.2%-3.21%+2.2%
  • February 13, 2026+13.6%-3.00%+5.2%
  • November 5, 2025-1.76%-2.8%
  • July 31, 2025+36.5%-3.63%+1.9%
  • May 1, 2025-15.8%+0.80%+8.2%
  • February 6, 2025+12.9%-3.28%+0.8%
  • November 7, 2024+4.63%-0.9%
  • July 31, 2024-46.2%+2.73%-16.2%

How does Cameco stock move before earnings?

-1.5%

On average, over the 5 days before. It rose in 3 of 8 quarters.

How does the stock move in the 10 days before?

-2.1%

On average. It rose in 3 of 8 quarters.

How does the stock move in the 5 days after?

-0.2%

On average. It rose in 5 of 8 quarters. It is not a pattern to rely on.

Analyst estimates from a third-party source. The reaction is the change in closing price on the day after the report. This is not investment advice.

What can go wrong

Risks & Resilience

Risks in Cameco Corp (CCJ) stock: balance sheet strength, distance from financial distress, and behaviour in past crises. The low-risk score is 71.7 out of 100, in the upper end of the market.

Cameco debt and solvency

Whether Cameco can pay its debts from what it earns, and how far it is from financial distress.

Good sign

Can Cameco pay its debts?

1.15× debt to EBITDA

Cameco would need about 1.2 years of operating profit to repay all of its financial debt.

Below 3× is considered comfortable. Cameco does better than 62% of companies in its sector.

Balance sheet as of March 31, 2026

Financial debt$0.72 bn
Cash and short-term investments$0.80 bn
Net cash
$0.08 bn

cash and investments minus debt

Credit health
97 out of 100

above 75 means no concern

Good sign

How close is Cameco to bankruptcy?

Very far

None of the bankruptcy models with a published threshold flags stress at Cameco.

The Altman Z'' score is 7.90, above the 2.6 safety threshold. The probability of default from the Merton model is practically zero.

  • Altman Z'' scoreStatistical model estimating bankruptcy risk, adapted for non-financial firms. Above 2.6 is the safe zone; below 1.1 is the distress zone.
  • Distance to default (Merton)How many standard deviations the firm value sits above its debt level. Above 3 is a comfortable margin.
  • Probability of default (Merton)Estimated chance the firm cannot service its debt over one year. Below 1% means negligible credit risk.
  • Probability of distress (Ohlson)Statistical model estimating the risk of financial distress. Low means a balance sheet under no strain.
  • Probability of distress (Zmijewski)Alternative model for estimating financial distress risk. Low means limited risk; useful as a cross-check on the Ohlson model.

Signs of accounting manipulation at Cameco

Statistical models that look for patterns linked to aggressive reporting. A flag means "worth a closer look", not "fraud".

Good sign

Are there signs of accounting manipulation at Cameco?

No serious flags

The models find no pattern of inflated earnings or massaged numbers at Cameco.

The only point to watch is the Montier score, at 3 out of 6, between the clean and the caution thresholds.

  • Beneish M-scoreModel that detects patterns of aggressive accounting. Below −1.78 means no signals of aggressive reporting. A statistical test, not an accusation.
  • Montier C-scoreSix warning signals about the quality of accounting. 0-1 is clean; 4 or above calls for caution.
  • Dilution from stock-based payHow much of shareholders' stake is diluted by shares granted to employees. Below 2% a year is bearable dilution.
  • Accruals ratio (Sloan)How much of reported profit is accounting only, rather than cash collected. Low or negative means profit is backed by real money.
  • Cash conversion of earningsHow much of accounting profit actually turns into cash. Above 100% means profit is more than covered by real money.
  • Tax rate deviationHow far the tax actually paid differs from the statutory rate in the company’s country. Close to zero is normal. A large, sustained deviation is worth a look at the notes.

The Beneish, Montier and Sloan models are published in academic literature, and the thresholds are those from the original papers.

A statistical screening signal, not an accusation of fraud.

Transparency · MAR

How Cameco stock behaved in market crises

What happened to Cameco stock when the market fell. This is not a forecast, it is what already happened.

Worth watching

How far did Cameco stock fall in past crises?

-42.1% largest drop

Cameco stock held up better than the sector median in 1 of 2 crises.

The drop is measured from peak to trough, on the actual price at the time.

  • COVID-19 crash2020
    -42.1%

    Better than 83% of the sector

  • 2022 bear market2022
    -34.8%

    Better than 34% of the sector

All crisis data 5
MetricCameco
COVID-19 crash (2020)-42.1%
2022 bear market (2022)-34.8%
Share of market declines captured135%
Beta to the market1.23
Recession resilience score35 out of 100

Worth watching

How much of the market's declines does Cameco stock capture?

135%

When the market falls 10%, Cameco stock falls by about 13.5% on average.

Above 100% means the stock amplifies the market's declines. Its beta of 1.23 says the same.

Market falls-10.0%
Cameco falls-13.5%

Real historical data, not a simulation. How a stock came through past crises does not guarantee how it will come through the next one.

Cameco Corp (CCJ) stock: biggest drops and how long the recovery took

The falls the price has been through, from a peak to the lowest point, and how long it took to recover.

Biggest drops since 2010

From a peak to the lowest point after it, how long the fall lasted and how long the recovery took.

  • Feb 2011 - Mar 2020-87.4%fell for 9 years and 1 month, then took 3 years and 8 months to get back to the peak
  • Dec 2024 - Apr 2025-40.0%fell for 4 months, then took 2 months to get back to the peak
  • Jan 2010 - Jul 2010-36.8%fell for 6 months, then took 4 months to get back to the peak

Measured on each day’s closing price, adjusted for splits, since 2010-01-04. Elsewhere on this page, drops are measured with dividends reinvested, which is why they can come out slightly smaller there.

What you get while you wait

Dividends and shareholder return

How much Cameco Corp pays in dividends, how secure it is, and what happens to the share count.

Cameco dividends: how much it pays and how safe it is

What you receive as a dividend for one Cameco share, how often, and whether the payout is covered by earnings.

How much dividend does Cameco pay?

0.57% a year, at today's price

Cameco paid $0.46 per share over the last 12 months, in 4 quarterly payments.

The Energy sector median is 4.20%.

Dividend per share, at each payment

  • $0.06Nov 18
  • $0.06Nov 19
  • $0.06Nov 20
  • $0.06Nov 21
  • $0.09Nov 22
  • $0.09Nov 23
  • $0.11Nov 24
  • $0.17Dec 25
Expected dividend for the next year
$0.17

a yield of 0.20%

How often it pays
Quarterly

4 times a year

Good sign

How safe is the Cameco dividend?

81 out of 100

Cameco pays out only 17.7% of its earnings as a dividend, so it has plenty of room to keep it.

The sector median is 43.0%. The model sees no risk of the dividend being cut.

  • Payout ratioHow much of the profit is paid out as dividend. Below 60% leaves room to grow; above 100% means the dividend exceeds the profit.
  • Dividend safetyHow well the dividend is covered by earnings and cash. The higher the score, the better supported the payout.
  • Risk of a cutThe model's estimate of the risk that the dividend is reduced or suspended. 0 means no warning signal shows up.

Bad sign

How fast is the Cameco dividend growing?

-5.0% a year

Over the past five years, the dividend per share has fallen by an average of 5.0% a year.

That is slower than most companies in the sector. The latest increase, on December 1, 2025, was 50.9%.

  • Years of dividend increases in a rowHow many years in a row the dividend per share has grown, without a single break. A long streak shows a company that can afford to raise the payout to shareholders year after year.
  • Dividend growthAverage yearly growth in the dividend per share. Steadily positive points to a predictable dividend policy.
All dividend payments 8
Ex-dividend datePaidAmountVersus previous
December 1, 2025December 16, 2025$0.17+50.9%
November 27, 2024December 13, 2024$0.11+29.5%
November 29, 2023December 15, 2023$0.09-1.1%
November 29, 2022December 15, 2022$0.09+41.3%
November 29, 2021December 15, 2021$0.06+3.3%
November 27, 2020December 15, 2020$0.06+1.7%
November 26, 2019December 13, 2019$0.060.0%
November 29, 2018December 14, 2018$0.06

Past dividends do not guarantee future payments. Amounts are adjusted for stock splits.

Total shareholder yield for Cameco

Besides the dividend, a company also returns money to shareholders when it buys back its shares or pays down its debt.

What has Cameco spent its money on over the last 5 years?

31% acquisitions

Over the last 5 years, most of Cameco's money went to acquisitions.

The total yield for the last 12 months cannot be calculated because data on buybacks and financing is missing. The percentages show the share of the money the company deployed that went in each direction.

How Cameco used its money over the last 5 years

  • Dividends8%
  • Investment25%
  • Acquisitions31%

What you would have made

What has already happened, taken out of percentages and put into money.

What you would have made by investing in Cameco Corp (CCJ) stock

$1,000 put in Cameco Corp stock 10 years ago, with dividends reinvested, would have grown to $7,503, a return of 22.33% a year. On the share price alone, without dividends, it would have been $8,122. Type your own amount and everything recalculates.

$
  • 3 years ago$2,639of which $1,639 is gain, at 38.19% a year
  • 5 years ago$3,777of which $2,777 is gain, at 30.45% a year
  • 10 years ago$7,503of which $6,503 is gain, at 22.33% a year

These figures have already happened and are not an estimate for what comes next. Dividends are reinvested in the same stock, and the amounts are in the currency the stock trades in, before tax and fees.

Cameco stock split history

In a split, each share is divided into several. The price falls in the same proportion, and the value you hold stays the same.

How many times has Cameco split its stock?

2 splits

The latest split was on February 23, 2006, 2-for-1.

One Cameco share bought before January 7, 2005 has become 6 shares after all the splits.

  • February 23, 2006
    2-for-1
  • January 7, 2005
    3-for-1

Who owns it and what they do with it

Holders and flow

Who stands behind Cameco Corp shares, what they buy and sell, and who bets against them.

Who owns Cameco stock: institutional shareholders

How much of the company is held by funds and institutions, who the largest shareholders are, and whether they are adding to or cutting their stakes.

Who are the largest shareholders of Cameco?

68.1% held by institutions

Funds and institutions hold 68.1% of Cameco shares, and management and employees hold 0.1%.

The five largest shareholders hold 16.8% together. The largest, Vanguard Group Inc, owns 4.1%. 2 of them are passive funds, which buy the stock because it is in an index.

  • Institutions68.1%
  • Management and employees0.1%
  • Other31.7%
Stake and changeThe stake is the share of the company's stock held by the shareholder. The change shows how much they increased or reduced their position in the latest filing.
  • Vanguard Group IncDecember 31, 2025 · passive fund
    4.15%+1.45%
  • MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.March 31, 2026
    3.53%+5.80%
  • Global X Uranium ETFMay 29, 2026
    3.34%0.00%
  • Capital World InvestorsMarch 31, 2026
    3.05%-2.09%
  • Vanguard Capital Management, LLCMarch 31, 2026 · passive fund
    2.72%0.00%

Good sign

Are big investors buying or selling Cameco stock?

21 of 40 bought

Of the 40 large shareholders on file, 21 added to their stake and 9 cut it.

Overall, they were net buyers of 9.4 million shares. The data comes from quarterly filings, the latest up to May 30, 2026.

Bought21
Sold9

10 left their stake unchanged.

Net shares bought
+9.4m

all large shareholders

Active funds
14 bought

7 sold

The list covers the largest reported shareholders, not the whole shareholder base, so the stakes do not add up to 100%.

Cameco short interest: how much is being bet on a fall

Investors who expect the price to fall sell borrowed shares, planning to buy them back cheaper. The more of them there are, the bigger the bet on a decline.

Good sign

How many Cameco shares are sold short?

2.36% of the free float

Only 2.36% of the Cameco shares in the free float are sold short, or 6.0 million shares.

It would take 2.0 days of normal trading for all positions to be closed, so the risk of a short squeeze is low.

0%3%10%20%
  • Of the free floatThe share of freely traded stock that is sold short. Below 3% is normal; above 10% points to a big bet on a fall.
  • Days to coverHow many days of normal volume it would take for all short sellers to buy back their shares. Above 5-7 days, a sudden price jump can force them to buy in a hurry.
  • Shares sold shortThe number of shares borrowed and sold by investors betting on a falling price, at the latest report.
  • Short squeeze riskWhen the price jumps suddenly and short sellers have to buy back in a hurry, which pushes the price even higher.

Short positions are reported twice a month, so this figure is older than the price on the page. Latest report: June 10, 2026.

Where it stands against the rest

Context & Comparisons

A number on its own says nothing. Here Cameco Corp is placed next to its sector, its industry and the market, so every figure gets a position.

How Cameco compares with the Energy sector

Cameco belongs to the Energy sector, in the Uranium industry. Each metric is shown next to the median of companies in the sector and the industry.

How Cameco compares with its sector.

Where the company ranks among its sector peers on every metric, from 0 to 100.

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Transparency · MAR

Companies comparable to Cameco and its direct competitors

Two different lists: stocks with a profile similar to Cameco, whatever their business, and companies that do the same thing, in the same industry.

Which stocks are most similar to Cameco?

84.4% similar to Texas Pacific Land Corporation

The closest in profile to Cameco are Texas Pacific Land Corporation, Helios Towers Plc and Carpenter Technology Corporation.

Similarity comes from exposure to the same style factors, such as size, quality or volatility, not from the line of business. That is why companies from other sectors also appear. This is not a recommendation.

Similarity and scoreSimilarity, from 0 to 100%, shows how close the two stocks are on style factors. The score is our overall company score, from 0 to 100.
  • Texas Pacific Land Corporation
    Texas Pacific Land CorporationTPL · Energy
    84.4%
  • Helios Towers Plc
    Helios Towers PlcHTWS.LSE · Communication Services
    84.2%
  • Carpenter Technology CorporationCRS · Industrials
    83.9%
  • Allegheny Technologies Incorporated
    Allegheny Technologies IncorporatedATI · Industrials
    83.6%
  • Zegona Communications Plc
    Zegona Communications PlcZEG.LSE · Communication Services
    82.4%
  • TKMS AG & Co KGaA
    TKMS AG & Co KGaATKMS.XETRA · Industrials
    82.0%

Who are Cameco's direct competitors?

6 companies in the Uranium industry

The closest in size is Cameco Corp.

The list is sorted by company size, but market value is not shown: it comes in each market's own currency, so the figures cannot be compared.

ScoreOur overall score for each company, from 0 to 100, the same one the verdict comes from.
  • Cameco CorpCCO.TO · CA
  • NexGen Energy Ltd.
    NexGen Energy Ltd.NXE.TO · CA
  • Energy Fuels IncEFR.TO · CA
  • Sprott Physical Uranium TrustU-U.TO · CA
  • Denison Mines CorpDML.TO · CA
  • UUUU
    UUUUUUUU · US

How the price moves

Market & Momentum

So far this has been about the company. From here on it is about the share: how much it swings, how deep it fell, and whether the move was worth the risk.

Cameco stock volatility: how much the price moves and how far it has fallen

How much Cameco's share price swings, how it moves against the market and how deep its declines have been.

How volatile is Cameco stock?

56.88% volatility over the past year

Over the past year, Cameco stock had annualized volatility of 56.88%, and 48.05% over three years.

A beta of 1.23 shows how the stock moves against the market: when the market moves 10%, Cameco has moved 12.3% on average.

How much the price moved day to day, over the last 90 sessions

On 40 of 90 days, the price moved by more than 2%. Largest one-day drop: -13.24%, largest rise: +7.24%.

When the market moves 10%, the stock moves on average

Market10%
Cameco12.3%
  • Annualised volatility (1 year)How much the price swings over a year, as a standard deviation. Lower means a smoother ride, not necessarily a higher return.
  • Annualised volatility (3 years)How widely the price swings in a year, measured over the last three. Below 20% is calm; above 40% takes a strong stomach.
  • BetaAgainst the market, over 5 years. How strongly the share moves when the market moves. Below 1 is calmer than the market; above 1 amplifies its moves.
  • Downside betaOnly on days the market falls. How much the share moves against the market, measured ONLY on days the market falls. Lower than ordinary beta = falls less than it rises. Higher = amplifies the falls.
  • Beta over the last yearCalculated on the past year only. The same market sensitivity, but computed on the last twelve months only. Compared with long-term beta, it shows whether the share has turned choppier lately.
  • Raw betaWithout the adjustment toward 1. How much the share moves against the market, without the usual statistical adjustment. Above 1 = moves more than the market. This is the unsmoothed figure; adjusted beta is steadier.

How far has Cameco stock fallen from its peak?

-85.04% largest decline

Cameco stock's largest decline was 85.04%, and getting back to the previous peak took 1,255 days.

The price is now 29.13% below its previous peak.

  • Maximum drawdownFrom peak to trough. The largest peak-to-trough fall over the period analysed. Smaller is easier to sit through.
  • Current drawdownHow far below the previous peak it is now. How far today’s price sits below the highest peak reached. Zero means it is at the peak. The deeper it is, the more there is to recover.
  • Distance from the 52-week highAgainst the highest price of the past year. How far the price sits below its highest level of the past 52 weeks. Near zero = at the high. Deeply negative = it has given up a lot from the peak.
  • Likely worst-case drawdownExceeded on only 5% of days. How deep the fall could be in the worst 5% of scenarios. Lower is better. It is a statistical estimate, not a guaranteed floor.
  • Ulcer index (1 year)How deep and how long the falls of the past year were, in a single figure. Lower is better: it measures discomfort, not just swing.
  • Ulcer index (3 years)How deep and how long the falls below previous peaks have been. Low means few long stretches spent below the peak.
  • Days to recoverUntil it got back to the peak. How many days the price needed to return to its peak after the largest fall. Fewer is better. Hundreds of days means patience was tested.

Volatility is calculated from daily prices, over the last year and the last three years. Beta compares the stock's moves with the market's over the last five years; one-year beta uses only the last twelve months. These measure the past, they are not forecasts. The histogram uses daily closing prices from the last three months.

Cameco stock's risk-adjusted return

The same gain earned with wide or narrow swings is not worth the same. The figures below divide the return by the risk it was earned with.

Worth watching

Was Cameco stock worth the risk?

0.81 Sharpe ratio over one year

Partly. A Sharpe ratio of 0.81 shows Cameco stock returned more than a risk-free investment, but not much for how much it swung.

Over three years, the Sharpe ratio is 0.91, almost the same as in the past year.

Risk ratiosEach divides the gain by a form of risk. The Sharpe and Sortino bars start from 0, the Omega bar from 1, the point where gains equal losses. Each row has its own scale. Below the one-year value you see the three-year value, where it exists.
  • Sharpe ratioReturn above the risk-free rate for each unit of volatility. Above 1 is good; above 2 is remarkable.
  • Sortino ratioLike Sharpe, but only penalising downward swings, not upward ones. Above 1.5 means good return relative to downside risk.
  • Omega ratioThe ratio of gains to losses over the past year, weighted by their size. Above 1 means the good side weighed more than the bad.
  • Total return, 12 monthsPast 12 months, with dividends. Gain over the past year, with dividends reinvested. Compared with the benchmark index, not in isolation.
  • Calmar ratioAgainst the largest decline. Annual return divided by the largest drawdown suffered. Above 0.5 is decent. It says how much return you got for each unit of pain.
  • Treynor ratioAgainst market risk, past year. Return above the risk-free rate divided by beta - against market risk, not total swing. Higher is better. Useful when the share is held in a portfolio rather than alone.

Each one relates the gain to a form of risk: Sharpe to total swings, Sortino only to the downside, Omega weighs gains against losses, Calmar uses the deepest fall, Treynor market risk. Thresholds used: Sharpe and Sortino above 1 good, 0 to 1 moderate, below 0 weak; Omega above 1 good, below 1 weak; Calmar above 0.5 good, 0 to 0.5 moderate, below 0 weak. Treynor has no general threshold, so we show it without a verdict. The words next to the figures are states with established names, not recommendations: “oversold” does not mean “worth buying”. Verdicts appear only on the risk ratios, where there is a clear direction of better.

Cameco stock trend: moving averages and oscillators

Where Cameco's share price stands against its averages and how stretched the recent move is.

Is Cameco stock in an uptrend?

2 of 4 trend signals pointing up

Cameco's share price has dropped below its 200-day average, although the 50-day average is still above the 200-day one.

  • Above the 200-day averageWhether today’s price is above or below the long-term average. Above is read as a structural uptrend; below, a downtrend.
  • Short average above the long oneWhether the 50-day average is above the 200-day. When the short crosses above the long it is called a golden cross; the reverse, a death cross.
  • Moving-average crossover stateWhich average is on top, expressed as +1 or -1. +1 = short above long; -1 = the reverse.
  • Parabolic SAR directionThe direction signal given by the Parabolic SAR indicator. +1 = uptrend; -1 = downtrend.

The price over the last 91 sessions, with the 50-day average. The dashed line marks today's level of the 200-day average.

$123.69$77.52
May 29, 2026October 19, 2026
  • Current priceThe latest closing price in the daily data, the white line on the chart.
  • 50-day moving averageAverage price, last 50 days. The average price over the last fifty trading sessions. It is the short-term reference: price above it means a recent upward trend.
  • 200-day moving averageAverage price, last 200 days. The average price over the last two hundred sessions. It is the long-term reference, the most watched line in technical analysis.

Is Cameco stock overbought?

34.25 14-day RSI

No. An RSI of 34.25 is close to the 30 threshold, below which Cameco stock would be considered oversold.

Trend strength (ADX) is 21.54, between 20 and 25: the move has a direction, but a weak one.

OscillatorsThey show how stretched the recent price move is. Each scale marks the usual thresholds from technical analysis. These are states with established names, not recommendations.
  • MACD lineDifference between the 12-day and 26-day averages. The gap between the 12-day and the 26-day exponential average - how fast direction is changing. Above the signal and rising means upward momentum.
  • MACD signal9-day average of the MACD line. The nine-day average of the MACD line. It is the threshold the line is read against. It is not judged on its own: what matters is whether the line is above or below it.
  • MACD histogramThe line minus the signal. The gap between the MACD line and its signal - how fast momentum is changing. Positive and rising = upward momentum; negative = downward momentum.
  • On-balance volume slope (50 days)Direction of volume, last 50 days. Where cumulative volume is heading over the last fifty sessions. Positive means more is being accumulated than distributed.
  • Relative strength index (RSI 14)Usual thresholds: 30 and 70. How fast the price rose or fell over the last fourteen days, on a scale from 0 to 100. Below 30 is considered oversold, above 70 overbought. In between, no signal.
  • Commodity channel index (CCI 20)Usual thresholds: -100 and 100. How far the price is from its twenty-day average, measured in typical deviations. Between -100 and +100 is normal; outside that, an unusual move against the recent pattern.
  • Position in the Bollinger bandBetween 0 and 1, the price is inside the band. Where the price sits between the lower band (0) and the upper band (1) of the volatility channel. Below 0 or above 1 means the price has left the channel - rare, and usually brief.
  • Trend strength (ADX 14)Above 25, the trend is clear. How clear the price direction is, whether it rises or falls. Above 25 = a clear trend; below 20 = it moves sideways.

The thresholds marked on the scales are the usual ones in technical analysis: 30 and 70 for RSI, ±100 for CCI, 0 and 1 for the Bollinger band, 20 and 25 for trend strength. They are widely used conventions, not rules. The words next to the figures are states with established names, not recommendations: “oversold” does not mean “worth buying”. Verdicts appear only on the risk ratios, where there is a clear direction of better.

Who Cameco stock is suited for

Each row is an investing style. The more checks Cameco passes for a style, the better it suits people who invest that way. There is no right style.

Worth watching

What kind of investor is Cameco stock right for?

15 of 26 checks passed

Cameco best suits investors looking for a strong balance sheet and least suits those looking for a low price.

A failed check is not a flaw in itself: a growth company fails almost everything to do with value, and that is normal. What matters is the pattern, where it passes and where it fails, not the count on its own.

Strongest point
Financial health

5 of 6

Weakest point
Value

0 of 3

The checksEach style has a few checks, each with a threshold. The bar shows how many of them the company passes. Open a style to see which pass and which fail.
ValueFor those looking for a low price against what the company produces0 of 3
  • Upside to fair valueHow much room there is between today’s price and the value computed from discounted cash flows. Positive means the model sees the share below its value.
  • Price / earnings (trailing 12 months)How many years of current profit you pay for one share. Judged against sector and growth rate, never in isolation.
  • Price / sales (trailing 12 months)How many times annual sales you pay for a share. Useful for companies without profit; judged against the sector, not in absolute terms.
  • Free cash flow yieldHow much free cash the company produces relative to its market value. Above ~5% is attractive; below 2% is expensive.
  • Margin of safetyHow far the market price sits below our fair-value estimate. Positive and wide means buying below value. Negative means paying above it.
QualityFor those looking for a business that earns well on the capital it uses3 of 6
  • Return on capital above its costWhether the return on invested capital exceeds the weighted average cost of capital. Above the cost of capital the company creates value; below, it destroys it.
  • Return on equityHow much net profit the company generates from shareholders' money. Above ~15% is very good; consistency matters as much as the level.
  • Net margin (DuPont breakdown)The margin component of the DuPont breakdown of returns. Higher means the firm keeps more of every unit sold.
  • Competitive moatHow well defended the company’s position is against competitors. A wide moat means profit is harder to erode.
  • Piotroski F-scoreNine balance-sheet and profitability checks, one point for each one passed. Above 7 out of 9 is considered solid; below 3, weak.
  • Sloan ratioHow much of the profit comes from accounting accruals rather than cash received. Near zero is better: the profit shows up in the account, not just the report.
Financial healthFor those who want to sleep easy: low debt, solid balance sheet5 of 6
  • Warning flagsThe number of forensic flags raised by the reporting-quality models. Zero is what you want to see.
  • Debt / EBITDAHow many years of operating profit it would take to cover total debt. Below 3 is comfortable; above 4 becomes a burden.
  • Altman Z'' scoreStatistical model estimating bankruptcy risk, adapted for non-financial firms. Above 2.6 is the safe zone; below 1.1 is the distress zone.
  • Interest coverageHow many times operating profit covers the interest the company owes in a year. Above 3 is comfortable; below 1.5 means interest eats almost all the profit.
  • Probability of default (Merton)Estimated chance the firm cannot service its debt over one year. Below 1% means negligible credit risk.
  • Behaviour in recessionHow the share behaved through recent economic contractions. A smaller fall than the market shows resilience.
GrowthFor those looking for revenue and profit rising year after year2 of 3
  • Earnings per share growth (5-year annual)Average yearly growth in earnings per share. Faster than revenue means expanding margins or buybacks.
  • Revenue growth (5-year annual)Average yearly revenue growth over the past five years. Above ~10% is solid growth for a mature company.
  • Rule of 40Revenue growth added to the profitability margin. Above 40 means a good balance between growth and profitability.
  • Analyst revisionsWhich way analysts have moved their estimates lately. Upward means expectations are rising.
DividendsFor those who want regular income, not just a rising price1 of 3
  • Dividend yield (trailing 12 months)Dividends paid over the past year against the current price. Judged together with sustainability, not on level alone.
  • Payout ratioHow much of the profit is paid out as dividend. Below 60% leaves room to grow; above 100% means the dividend exceeds the profit.
  • Streak of good reportsHow many quarters in a row the company has beaten expectations. A long streak shows predictability; a broken one, a change.
Momentum and performanceFor those who follow the recent trend in the price4 of 5
  • Beats, last yearHow many times over the last year the result came in above estimates. More beats suggest cautious estimates or good execution.
  • Beats, three yearsHow many times over the last three years the result came in above estimates. More beats suggest cautious estimates or good execution.
  • Beats, five yearsHow many times over the last five years the result came in above estimates. More beats suggest cautious estimates or good execution.
  • Price momentumThe direction and strength of the recent price move. Positive means the recent trend is upward.
  • Sharpe ratio (1 year)Return above the risk-free rate for each unit of volatility. Above 1 is good; above 2 is remarkable.

Transparency · MAR

In short

Frequently asked questions about Cameco Corp (CCJ) stock

Short answers to the questions investors ask most about Cameco, with figures as of October 19, 2026.

What is the Cameco (CCJ) share price today?

$80.70

At the close on October 19, 2026, one Cameco share cost $80.70. Over the past 52 weeks, the price has ranged between $64.71 and $135.24. Compared with a year ago, the stock is up 48.9%.

See the full analysis

Does Cameco pay a dividend?

0.57% a year

Yes, Cameco pays a quarterly dividend: $0.46 per share over the last 12 months, a yield of 0.57% at today's price. The 0.57% yield is below the Energy sector median of 4.20%. It pays out 17.7% of its earnings as dividends. The latest payment was $0.17 per share, with an ex-dividend date of December 1, 2025.

See the full analysis

Is Cameco stock expensive?

P/E 76.1

At today's price, Cameco shares trade at 76.1 times earnings (price-to-earnings ratio), compared with a median of 15.5 in the Energy sector. Investors are paying a 390% premium over the typical company in the sector, a sign they expect more from it than from the sector.

See the full analysis

Is Cameco profitable?

16.9% margin

Yes. Cameco keeps 16.9% of its revenue as net profit (net margin). Its return on invested capital (ROIC) is 5.6%.

See the full analysis

Are Cameco’s revenue and earnings growing?

Revenue +10.9%

In its latest fiscal year, Cameco grew revenue by 10.9% compared with 2024. Net income rose 242.8%. Over the past 5 years, revenue has grown by an average of 14.1% a year.

See the full analysis

What is the analyst price target for Cameco stock?

Target +35.8%

The average 12-month analyst price target for Cameco shares is $129.01. The target is 35.8% above today's price. The estimate comes from 19 analysts, not from our analysis, and their average recommendation is “strong buy”, at 4.53 out of 5.

See the full analysis

When does Cameco report earnings?

Cameco has not yet announced the date of its next earnings report. Over the last 8 quarters, Cameco beat earnings estimates 4 times.

See the full analysis

Does Cameco have a lot of debt?

Debt 1.15x EBITDA

Cameco carries $999.7 m in financial debt, or 1.15 times its annual operating profit (EBITDA). That is below the sector median of 1.63, so the debt load is light for its industry. Cash and short-term investments of $1.21 bn cover all of that debt. Its Altman Z-score puts it in the safe zone, far from bankruptcy risk.

See the full analysis

How do you buy Cameco (CCJ) shares?

CCJ

Cameco shares trade on the New York Stock Exchange (NYSE) under the ticker CCJ, in US dollars. You buy them through a broker with access to this exchange: search for the ticker CCJ or the ISIN CA13321L1085 and place an order. Brokers with access to this exchange, from our comparison: eToro, Trading212 and XTB. CCJ trades Monday to Friday, from 9:30 to 16:00 New York time. Many brokers also offer fractional Cameco shares, so you don't need $80.70 to get started. Because Cameco is a US company, investors outside the US fill in form W-8BEN once, so the broker can apply their country's tax-treaty rate to US withholding on its dividends instead of the standard 30%.

Affiliate links: if you open an account, we may earn a commission at no cost to you. Investing involves the risk of losing money.

How risky is Cameco stock?

Beta 1.23

Cameco shares have a beta of 1.23, so the stock has moved more than the market: when the market moved 10%, it moved 12.3% on average. Its largest drop from a peak was 85.0%, and the recovery took 1,255 days. Volatility over the past year is 56.9%.

See the full analysis

Is Cameco stock in an uptrend or a downtrend?

-6.9% vs 200-day average

Long term, it is trending down: Cameco shares trade 6.9% below their 200-day average.

See the full analysis

How much would you have made with Cameco stock?

+650% in 10 years

Anyone who bought Cameco shares 10 years ago has a total gain of 650% today, with dividends reinvested, or 22.3% a year. Over the past year, the gain was 26.7%.

See the full analysis

This information is educational and is not investment advice. Figures update together with the data on this page.

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Key figuresAnalysis summaryIndicatorsPros and consVerdict
AnalystsFair valueProjections
ProfitabilityGrowthEarnings qualityCapital efficiencyFinancial statementsEarnings reports
Debt and solvencyForensics and manipulationBehaviour in crisesBiggest drops
DividendsShareholder yieldWhat you would have madeSplits
Institutional holdingsShort interest
Position in sectorComparable companiesWho it suits
Volatility and riskRisk-adjusted returnTrend and oscillators
Frequently asked questions