enCore Energy Corp. (EU) vs Centrus Energy Corp. (LEU)

enCore Energy Corp. and Centrus Energy Corp. are both Uranium companies. Centrus Energy Corp. is the larger, with a market value of $3.1B against $235.1M — 13.0× the size. enCore Energy Corp. has negative trailing earnings, so its P/E is not meaningful; Centrus Energy Corp. trades at 58.6×. enCore Energy Corp. grew revenue faster over the last twelve months: 24.1% against 8.47%. Centrus Energy Corp. has the higher net margin (10.2% vs −112.8%) and the higher return on invested capital (3.00% vs −11.2%). Across the 18 metrics below, Centrus Energy Corp. leads on 12 and enCore Energy Corp. on 6.

Valuation

Metric EU LEU Uranium median
P/E n/m 58.59 —
P/S 4.36 6.17 16.46
P/B 0.98 3.46 3.35
Price to free cash flow n/m n/m —
EV/EBITDA n/m 96.76 —
EV/Sales 5.40 4.72 14.86
Earnings yield (26.61%) 1.71% (2.82%)
Free cash flow yield (26.89%) (5.60%) (4.18%)

Profitability

Metric EU LEU Uranium median
Gross margin 10.76% 23.65% 23.65%
Operating margin (91.23%) 1.56% 0.00%
Net margin (112.82%) 10.23% 0.00%
Free cash flow margin (115.39%) (34.56%) 0.00%
Return on equity (23.08%) 8.05% (11.34%)
Return on assets (16.06%) 2.52% (8.14%)
Return on invested capital (11.19%) 3.00% (4.64%)

Growth

Metric EU LEU Uranium median
Revenue growth (TTM) 24.09% 8.47% 43.30%
EPS growth (last fiscal year) 11.76% (12.75%) —
Revenue growth, 5-year CAGR — 12.66% —
Net income growth, 5-year CAGR 0.00% 68.08% 0.00%

Health

Metric EU LEU Uranium median
Debt to equity 0.45 1.39 0.45
Current ratio 8.00 5.39 9.41
Net debt to EBITDA (0.25) (11.71) 1.94

Dividend

Metric EU LEU Uranium median
Dividend yield — — —
Payout ratio — 0.00 0.00

Size

Metric EU LEU Uranium median
Market cap 235.08m 3.05b 2.40b

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