Energy Fuels Inc
Energy Fuels Inc’s revenue for fiscal 2025 (year ended December 2025) was $65.9 million, down 15.6% from fiscal 2024. In the quarter to June 2026, revenue grew 496.1%, EPS fell 30.0% and free cash flow fell 19.2%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Energy Fuels Inc (UUUU) Beneish M-score
Energy Fuels Inc's Beneish M-score for fiscal 2025 is −4.60; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −4.60 | (22.68) |
| FY2024 | 18.08 | 17.64 |
| FY2023 | 0.44 | 2.11 |
| FY2022 | −1.67 | (2.06) |
| FY2021 | 0.40 | 2.01 |
| FY2020 | −1.61 | (2.67) |
| FY2019 | 1.06 | 4.07 |
| FY2018 | −3.01 | (4.14) |
| FY2017 | 1.13 | 4.46 |
| FY2016 | −3.32 | (1.19) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.57 | — | 0.52 | |
| Gross margin index | 1.36 | — | 0.72 | |
| Asset quality index | 0.51 | — | 0.21 | |
| Sales growth index | 0.84 | — | 0.75 | |
| Depreciation index | 0.74 | — | 0.09 | |
| SG&A index | 2.10 | — | −0.36 | |
| Total accruals to total assets | 0.00 | — | 0.01 | |
| Leverage index | 5.17 | — | −1.69 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −4.60 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| UUUU Energy Fuels Inc | −4.6× |
| UROY Uranium Royalty Corp. compare | −3.4× |
| LEU Centrus Energy Corp. compare | −3.2× |
| EU enCore Energy Corp. compare | −2.0× |
| UEC Uranium Energy Corp. compare | — |
| NXE NexGen Energy compare | — |
| DNN Denison Mine Corp compare | — |
| ISOU IsoEnergy Ltd. compare | — |
| NUCL Eagle Nuclear Energy Corp. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI