Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data NUSCALE POWER Corp files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.6
2.86
11.8
22.8
37
31.5
Cost of revenue
0.36
1.77
7.32
19
4.94
20
Gross profit
0.25
1.09
4.49
3.85
32.1
11.4
Research and development
95.3
94.4
128
156
46.8
45.5
General and administrative
37.2
38.7
55.3
65.4
75.9
610
Operating income
-159
-174
-230
-276
-139
-690
Interest income
0.02
Pre-tax income
-88.4
-102
-142
-180
-346
-664
Income tax
0
0
0
0
1.94
0.32
Net income to minority interests
0
0
-84.5
-122
-212
-309
Net income
-88.4
-102
-25.9
-58.4
-137
-356
EBITDA
-157
-172
-227
-273
-137
-689
EPS, basic
0.00
0.00
-0.51
-0.80
-1.47
-2.17
EPS, diluted
0.00
0.00
-0.51
-0.80
-1.47
-2.17
Shares, basic (weighted)
0
0
50.8
73.4
93.2
164
Shares, diluted (weighted)
0
0
50.8
73.4
93.2
164
Balance sheet
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
1.91
77.1
218
120
402
836
Short-term investments
0
50
0
40
418
Receivables
4.83
11.2
Other current assets
0.24
4.15
5.53
19.1
3.38
4.88
Total current assets
2.14
86.1
284
155
471
1,273
Property, plant and equipment
4.96
4.77
4.12
2.42
1.92
Lease right-of-use assets
1.27
3.87
2.57
1.63
Goodwill
8.26
8.26
8.26
8.26
8.26
Intangible assets
1.24
1.06
0.88
0.7
0.53
Long-term investments
0
33
Other non-current assets
3.77
6.7
3.8
1.87
15.6
Total assets
234
121
349
225
545
1,413
Accounts payable
0
0.31
28
44.9
47.9
287
Accrued liabilities
0.05
0.04
9.04
8.55
7.33
8.28
Deferred revenue
0
0.76
0.61
Total current liabilities
0.05
48.4
38.6
87.5
89.7
296
Lease liabilities
0.21
2.79
1.44
1.1
Other non-current liabilities
2.98
2.79
1.44
1.65
2.57
Total liabilities
41.8
52.8
71.5
95.5
91.6
299
Paid-in capital
18
0
297
334
996
1,902
Retained earnings
-39.6
-782
-182
-240
-377
-733
Shareholders' equity
-39.6
66.3
115
93.5
619
1,169
Minority interests
0
162
35.9
-166
-55.3
Total equity
-39.6
66.3
277
129
453
1,114
Total liabilities and equity
234
121
349
225
545
1,413
Cash flow statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-88.4
-102
-142
-180
-348
-664
Depreciation and amortization
1.9
2.02
2.52
2.38
1.67
1
Stock-based compensation
3.72
6.44
9.33
16.2
13.6
19.2
Deferred income tax
0
0
Change in receivables
18
-2.04
-6.37
1.07
-12
Change in payables
6.49
0.31
2.99
18.2
5.72
238
Cash from operations
-47.2
-99.2
-149
-183
-109
-460
Capital expenditures
-3.53
-1.95
-2.33
-1.73
-0.04
-0.51
Purchases of investments
0
0
-50
0
-65
-542
Sales and maturities of investments
0
0
91.9
Cash from investing
-3.53
-1.95
-52.3
48.3
-39.8
-411
Debt issued
23
0
0
Debt repaid
-3
-20
0
0
Stock issued
0.04
0.75
0.85
0
Share buybacks
-0.05
-0.02
-0.57
0
0
Cash from financing
38.5
173
368
16.1
430
1,306
Net change in cash
-12.3
72.2
167
-119
281
435
Free cash flow
-50.8
-101
-151
-185
-109
-460
Interest paid
0
1.48
0
0
Income taxes paid
0
0
1.94
0.32
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $8.42 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
23.5%
Gross profit / revenue.
Operating margin
-6,854.0%
Operating income / revenue.
Pre-tax margin
-6,485.0%
Pre-tax income / revenue.
Net margin
-3,889.0%
Net income / revenue.
FCF margin
-7,286.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-7,263.0%
Cash from operations / revenue.
Return on equity (ROE)
-20.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-20.3%
Net income / average total assets.
Return on invested capital (ROIC)
-44.7%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
522.3%
Research and development expense / revenue.
Stock-based pay / revenue
198.5%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
23.0%
Capital expenditures / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-15.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
38.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
120.8%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-64.4%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
36.6%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
115.7%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
88.9%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
116.8%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
159.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
59.4%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
43.2%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
75.6%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
47.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
37.9x
Current assets / current liabilities.
Quick ratio
36.9x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
36.9x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.03
Revenue / diluted weighted shares.
FCF per share
-$2.14
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$2.13
Cash from operations / diluted weighted shares.
Book value per share
$5.65
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
338x
Market cap / revenue.
P/B
1.76x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.76x
Market cap / tangible book value, when positive.
EV/Sales
238x
Enterprise value / revenue.
FCF yield
-21.5%
Free cash flow / market cap.
Earnings yield
-11.5%
Net income / market cap (the inverse of P/E).
What was NUSCALE POWER Corp's revenue in fiscal 2025?
NUSCALE POWER Corp reported revenue of $31.5M for fiscal 2025, 15% lower than the year before.
Was NUSCALE POWER Corp profitable in fiscal 2025?
No. It reported a net loss of $355.8M.
How much free cash flow did NUSCALE POWER Corp generate in fiscal 2025?
Cash from operations of $459.6M minus capital expenditures of $508.0K left free cash flow of -$460.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.