Cameco Corp (CCJ) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.38	$0.18	-52.6%	—	—	—
Q2 26	$0.34	$0.47	+38.2%	—	—	—
Q1 26	$0.27	$0.07	-74.1%	—	—	—
Q4 25	$0.52	$0.71	+36.5%	—	—	—
Q3 25	$0.19	$0.16	-15.8%	—	—	—
Q2 25	$0.32	$0.36	+12.5%	—	—	—
Q1 25	$0.25	-$0.01	-104.0%	—	—	—
Q4 24	$0.26	$0.14	-46.2%	—	—	—
Q3 24	$0.34	$0.13	-61.8%	—	—	—
Q2 24	$0.25	$0.21	-16.0%	—	—	—
Q1 24	$0.13	$0.32	+146.2%	—	—	—
Q4 23	$0.13	-$0.01	-107.7%	—	—	—
Q3 23	$0.22	$0.27	+22.7%	—	—	—
Q2 23	$0.05	$0.09	+80.0%	—	—	—
Q1 23	-$0.01	$0.03	+400.0%	—	—	—
Q4 22	$0.02	$0.18	+800.0%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.35	—	—	$3.5B	—
FY24	—	$0.4	—	—	$2.3B	—
FY23	—	$0.83	—	—	$2.6B	—
FY22	—	$0.22	—	—	$1.9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.4B	$2.2B	$2.1B	$1.9B	$1.8B	$1.5B	$1.9B	$2.6B	$2.3B	$3.5B
YoY change	-11.7%	-11.3%	-3.02%	-10.9%	-3.37%	-18.1%	+26.6%	+38.5%	-11%	+51.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.4B	2.2B	2.1B	1.9B	1.8B	1.5B	1.9B	2.6B	2.3B	3.5B
Cost of revenue	2B	1.7B	1.8B	1.6B	1.7B	1.5B	1.6B	2B	1.7B	2.5B
Gross profit	463.5M	436.3M	295.7M	241.6M	106.4M	1.9M	233.3M	561.7M	574.7M	970.3M
Gross margin	19.1%	20.2%	14.1%	13%	5.91%	0.13%	12.5%	21.7%	25%	27.9%
Research & development	5M	5.7M	1.8M	6.1M	4M	7.2M	12.2M	21M	26.8M	38.5M
Selling, general & administrative	206.7M	163.1M	141.6M	124.9M	145.3M	127.6M	172M	245.5M	185.9M	311.3M
Operating expenses	220.1M	198.7M	223.2M	147.3M	146.8M	113.1M	217.7M	276.6M	199.3M	349M
Operating income	243.4M	237.5M	72.5M	94.3M	-40.3M	-111.2M	15.6M	285M	375.4M	621.3M
Operating margin	10%	11%	3.47%	5.06%	-2.24%	-7.54%	0.83%	11%	16.3%	17.8%
Non-operating income, net	-290.1M	-339.4M	57.1M	109.6M	61.6M	77.2M	117.5M	206.3M	-94.4M	248M
Pretax income	-154.2M	-207.2M	39.9M	135M	-39.5M	-103.9M	84.8M	487.2M	188.5M	777.3M
Income tax	-94.4M	-2.5M	-126.3M	61.1M	13.7M	-1.2M	-4.5M	126.3M	62.3M	187.7M
Net income	-59.9M	-204.7M	166.2M	73.9M	-53.2M	-102.7M	89.3M	360.8M	126.2M	589.5M
Net margin	-2.46%	-9.49%	7.95%	3.97%	-2.96%	-6.96%	4.78%	13.9%	5.48%	16.9%
EBITDA	603.1M	556.5M	442M	430.5M	201.9M	138.1M	307.7M	748.2M	575.9M	1.1B
EPS	-0.16	-0.52	0.42	0.19	-0.13	-0.26	0.22	0.83	0.4	1.35
Diluted EPS	-0.16	-0.52	0.42	0.19	-0.13	-0.26	0.22	0.83	0.39	1.35

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	877M	614.6M	1.2B	845.4M	813.8M
Cost of revenue	—	—	—	—	—	—	—	619.9M	444.3M	928.1M	543.8M	623.6M
Gross profit	—	—	—	—	—	—	—	257.1M	170.3M	272.8M	301.6M	190.1M
Gross margin	—	—	—	—	—	—	—	29.3%	27.7%	22.7%	35.7%	23.4%
Research & development	—	—	—	—	—	—	—	-708K	10.3M	14.9M	13.9M	9.7M
Selling, general & administrative	—	—	—	—	—	—	—	96.4M	67.5M	88.5M	122.5M	77M
Operating expenses	—	—	—	—	—	—	—	100.8M	87.7M	68.5M	137.4M	116M
Operating income	—	—	—	—	—	—	—	156.3M	82.5M	204.3M	164.1M	74.1M
Operating margin	—	—	—	—	—	—	—	17.8%	13.4%	17%	19.4%	9.11%
Non-operating income, net	—	—	—	—	—	—	—	247.6M	-55.9M	94.8M	16.7M	-17.2M
Pretax income	—	—	—	—	—	—	—	392M	15.7M	246.4M	162.9M	45.9M
Income tax	—	—	—	—	—	—	—	71.1M	15.9M	47.4M	32.2M	20.7M
Net income	—	—	—	—	—	—	—	320.9M	-158K	199.1M	130.8M	25.2M
Net margin	—	—	—	—	—	—	—	36.6%	-0.03%	16.6%	15.5%	3.1%
EBITDA	257.4M	126.8M	125.3M	120M	95.7M	350.1M	221.2M	432.4M	127.7M	364.5M	290.8M	168.1M
EPS	0.34	—	-0.02	0.08	0.02	—	0.16	0.74	-0	—	0.3	0.06
Diluted EPS	0.34	—	-0.02	0.08	0.02	—	0.16	0.74	-0	—	0.3	0.06

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	6B	5.3B	6.5B	5.1B	7.7B	12.6B	13.4B	26.8B	—	—	37.9B
Enterprise value	7.2B	6.2B	6.9B	5.1B	7.8B	12.3B	12.1B	28.2B	—	—	27.2B
Shares outstanding	575.1M	575.1M	575.1M	575.1M	575.1M	577.8M	589.2M	622.2M	319.3M	435.4M	435.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	39.3	69.2	—	—	149.6	74.3	—	—	152.8
P/S	2.48	2.46	3.12	2.75	4.28	8.54	7.15	10.4	—	—	10.9
P/B	1.15	1.09	1.31	1.02	1.55	2.6	2.29	4.4	—	—	7.52
EV/EBITDA	11.9	11.2	15.7	11.8	38.6	88.8	39.2	37.7	—	—	48.2
EV/Sales	2.96	2.88	3.31	2.73	4.32	8.32	6.46	10.9	—	—	11.1
Earnings yield	—	—	2.55%	1.44%	—	—	0.67%	1.35%	—	—	0.65%
FCF yield	1.59%	9.08%	9.38%	8.83%	-0.27%	2.85%	1.21%	1.99%	—	—	0.09%
PEG	—	—	—	—	—	—	—	—	—	—	1.75

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	19.1%	20.2%	14.1%	13%	5.91%	0.13%	12.5%	21.7%	25%	27.9%	35.7%
Operating margin	10%	11%	3.47%	5.06%	-2.24%	-7.54%	0.83%	11%	16.3%	17.8%	9.11%
Net margin	-2.46%	-9.49%	7.95%	3.97%	-2.96%	-6.96%	4.78%	13.9%	5.48%	16.9%	10.2%
ROE	-1.14%	-4.21%	3.33%	1.48%	-1.07%	-2.12%	1.53%	5.92%	2.7%	8.54%	5.11%
ROA	-0.73%	-2.63%	2.07%	1%	-0.7%	-1.37%	1.03%	3.63%	1.73%	5.72%	2.98%
ROIC	3.78%	4.12%	1.35%	1.04%	-0.8%	-2.47%	0.34%	2.83%	4.86%	7.05%	6.96%
Return on tangible assets	-0.76%	-2.68%	2.11%	1.01%	-0.71%	-1.38%	1.05%	3.66%	1.75%	5.76%	6.46%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	4.35	5.2	2.38	6.51	6.4	5.18	5.92	1.55	1.62	2.47	3.06
Quick ratio	1.25	2.52	1.74	5.05	3.87	3.96	4.46	0.84	0.8	1.52	1.84
Debt / equity	0.28	0.31	0.3	0.21	0.21	0.21	0.17	0.29	0.2	0.14	0.17
Debt / assets	0.18	0.19	0.19	0.14	0.13	0.13	0.12	0.18	0.13	0.1	0.1
Net debt / EBITDA	1.94	1.62	0.89	-0.08	0.39	-2.43	-4.18	1.84	0.87	-0.19	-0.09
Interest coverage	-0.62	-1.18	1.41	2.61	0.32	-0.71	2.23	6.29	3	9.12	8.94
Effective tax rate	0%	0%	0%	45.2%	0%	0%	0%	25.9%	33.1%	24.2%	20.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.23	3.75	3.64	3.24	3.13	2.55	3.17	4.16	7.21	8	7.98
EPS (basic)	-0.16	-0.52	0.42	0.19	-0.13	-0.26	0.22	0.83	0.4	1.35	1.35
EPS (diluted)	-0.16	-0.52	0.42	0.19	-0.13	-0.26	0.22	0.83	0.39	1.35	0.57
Book value per share	9.14	8.45	8.68	8.69	8.62	8.39	9.91	9.8	14.6	15.9	11.6
FCF per share	0.17	0.84	1.06	0.79	-0.04	0.62	0.27	0.86	1.6	2.47	2.12
Cash per share	0.56	1.03	1.92	1.85	1.64	2.31	3.87	0.66	1.38	2.79	2.56
Capex per share	0.37	0.19	0.09	0.13	0.13	0.16	0.24	0.25	0.49	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	8.83%	5.2%	2.59%	4%	4.27%	6.33%	7.64%	5.93%	6.74%	—	—
Capex / operating cash flow	137.3%	26.5%	8.13%	11.8%	146.5%	26.8%	64.4%	34.1%	34.1%	—	—
Payout ratio	-264.4%	-77.3%	42.8%	42.8%	-59.5%	-31%	58.1%	14.4%	40.5%	17.7%	29.6%
Dividend yield	2.63%	2.98%	1.09%	0.62%	0.41%	0.25%	0.39%	0.19%	—	—	0.79%

Yield

0.79%

trailing twelve months

Frequency

Annual

Last dividend

$0.172

ex-dividend Dec 1, 2025

Payout ratio

30%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Dec 1, 2025	$0.172
Nov 27, 2024	$0.1144
Nov 29, 2023	$0.0879

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	$877M	$614.6M	$1.2B	$845.4M	$813.8M
YoY change	—	—	—	—	—	—	—	—	—	—	—	-7.21%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	320.3M	591.6M	1.1B	1.1B	943.4M	1.3B	2.3B	410.5M	440.9M	1.2B
Receivables	236.4M	392.8M	392.9M	321.6M	166.1M	271M	167.7M	413.8M	227.3M	338.4M
Inventory	1.5B	1.1B	557M	406.3M	769.8M	504.9M	822.6M	841.6M	714M	1B
Total current assets	2B	2.1B	2.1B	1.8B	1.9B	2.1B	3.3B	1.8B	1.4B	2.6B
Property, plant & equipment	3.5B	3.1B	7.9B	7.7B	7.9B	7.7B	2.4B	2.3B	1.6B	2.2B
Goodwill & intangibles	406.6M	140M	131.2M	120.8M	111.6M	102.5M	94.2M	87.2M	58.5M	72.3M
Total assets	8.2B	7.8B	8B	7.4B	7.6B	7.5B	8.6B	9.9B	7.3B	10.3B
Accounts payable	213.5M	177M	123.2M	100.4M	137.2M	213.4M	250M	388.9M	95.3M	190.7M
Short-term debt	—	—	499.6M	33.1M	26.1M	—	—	499.8M	209.8M	—
Total current liabilities	469.3M	411M	875.9M	277.4M	303.8M	413.7M	560.8M	1.2B	870.7M	1.1B
Long-term debt	1.5B	1.5B	996.1M	996.7M	995.5M	996.3M	997M	1.3B	731.1M	996.3M
Total liabilities	3B	2.9B	3B	2.4B	2.6B	2.7B	2.8B	3.8B	2.6B	3.4B
Shareholders' equity	5.3B	4.9B	5B	5B	5B	4.8B	5.8B	6.1B	4.7B	6.9B
Total debt	1.5B	1.5B	1.5B	1B	1B	996.3M	997M	1.8B	940.9M	996.3M
Net debt	1.2B	902.9M	784.1M	-32.6M	103.3M	-251.2M	-146.7M	1.4B	500M	-118.5M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	2.4B	410.5M	164.8M	203.1M	114.4M	440.9M	361.5M	716.3M	778.7M	1.2B	1.1B	1.1B
Receivables	297.7M	413.8M	206.8M	172.9M	217.6M	227.3M	149.3M	291.1M	190.9M	338.4M	180.3M	337.1M
Inventory	709.1M	841.6M	915.1M	972.7M	718.7M	714M	953.2M	734.2M	900M	1B	899.3M	946.8M
Total current assets	3.7B	1.8B	1.5B	1.5B	1.1B	1.4B	1.5B	1.8B	1.9B	2.6B	2.2B	2.4B
Property, plant & equipment	—	2.3B	—	—	—	1.6B	—	—	—	2.2B	—	—
Goodwill & intangibles	44.4M	87.2M	42.7M	41.5M	29M	58.5M	39.1M	37.8M	37.1M	72.3M	35.2M	34.2M
Total assets	8.7B	9.9B	9.5B	9.4B	6.6B	7.3B	9.4B	9.6B	9.7B	10.3B	10.1B	10.3B
Accounts payable	261.8M	388.9M	376.7M	253.2M	261.7M	95.3M	346.2M	434.9M	402.7M	190.7M	440.4M	504.2M
Short-term debt	499.7M	499.8M	499.9M	—	—	209.8M	—	—	—	—	—	—
Total current liabilities	956.4M	1.2B	1B	481.2M	376.1M	870.7M	554.6M	608.9M	631.4M	1.1B	727M	798.5M
Long-term debt	497.9M	1.3B	1B	1.4B	900.1M	731.1M	995.7M	996M	996.2M	996.3M	996.5M	996.8M
Total liabilities	2.6B	3.8B	3.4B	3.2B	2.2B	2.6B	2.9B	2.8B	3B	3.4B	3B	3.2B
Shareholders' equity	6.1B	6.1B	6.1B	6.2B	4.4B	4.7B	6.5B	6.7B	6.8B	6.9B	7.1B	7.1B
Total debt	997.6M	1.8B	1.5B	1.4B	900.1M	940.9M	995.7M	996M	996.2M	996.3M	996.5M	996.8M
Net debt	-1.4B	1.4B	1.4B	1.2B	785.7M	500M	634.3M	279.7M	217.5M	-118.5M	-78.6M	-116M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-59.9M	-204.7M	166.2M	73.9M	-53.2M	-102.7M	89.3M	360.8M	126.2M	589.5M
Depreciation & amortization	371.7M	330.3M	328M	275.7M	208.7M	190.4M	177.4M	220.3M	206.1M	293.1M
Stock-based compensation	14.1M	14M	15M	14.3M	6.6M	4.5M	3.3M	3.7M	5M	9.7M
Change in working capital	-61.4M	140.8M	249.3M	175.5M	-237.2M	218.7M	-126.8M	-195.6M	-24.2M	4.9M
Operating cash flow	156.4M	423.6M	665.3M	633.6M	52.5M	348.6M	221.6M	450.9M	455.1M	1.4B
Capital expenditure	-214.7M	-112.1M	-54.1M	-74.5M	-77M	-93.4M	-142.7M	-153.6M	-155.1M	—
Investing cash flow	-217.8M	-93.1M	-411.6M	46.4M	-101M	-80.3M	-1.3B	-3.2B	-151.6M	-1.1M
Dividends paid	-158.3M	-158.3M	-71.2M	-31.6M	-31.6M	-31.8M	-51.9M	-52.1M	-51.1M	-104.5M
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-158.3M	-158.3M	-71.2M	-534.4M	-32.4M	-7.8M	908.1M	789.6M	-440.3M	-390.3M
Net change in cash	-219.8M	172.3M	182.4M	145.6M	-80.9M	260.5M	-161.2M	-1.9B	-136.8M	1B
Free cash flow	95.5M	482M	612.2M	451.8M	-20.6M	359.5M	161.2M	534.5M	509.4M	1.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	148.1M	80.1M	-7.1M	36M	5.3M	99.5M	69.8M	320.9M	-158K	199.1M	130.8M	25.2M
Depreciation & amortization	56M	46.1M	43.2M	61.9M	50.7M	76.8M	60.6M	86.5M	59.1M	86.9M	67.1M	72.2M
Stock-based compensation	949K	982K	1.3M	1.7M	1.3M	1.5M	2.1M	2.4M	2.4M	2.8M	2.9M	2.9M
Change in working capital	39.3M	-208.1M	187.6M	-39.6M	-124.2M	-4.8M	207.5M	18.9M	65.6M	-287M	315M	-168.1M
Operating cash flow	213.9M	4.7M	232M	191.7M	-46.3M	191.6M	359.2M	465.2M	155.7M	677.3M	-22.3M	131M
Capital expenditure	-43.1M	-43.6M	-40M	-46.8M	-42.9M	-47.1M	-56.4M	—	—	—	—	—
Investing cash flow	-23.6M	-3.1B	-40M	-39.8M	-42.9M	-48.7M	-57.4M	931K	-1.1M	0	65M	34.6M
Dividends paid	0	-52.1M	0	0	0	-51.1M	0	0	0	-104.5M	0	0
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	8.2M	-48.3M	-268.2M	-125.5M	-98M	-50.1M	-285.8M	1M	300K	-103.7M	1.1M	-1.2M
Net change in cash	198.4M	-3.1B	-76.2M	26.4M	-187.3M	92.8M	16.1M	467.2M	154.9M	573.6M	43.9M	164.4M
Free cash flow	141.6M	157.7M	23.1M	213.2M	-5.7M	341.7M	53.7M	390.3M	63.2M	568.2M	-100M	24.5M

Date	Ratio
Feb 23, 2006	2:1
Jan 7, 2005	3:1

Cameco Corp Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history