Latest Ratios: P/E Ratio -3.2x · EV/EBITDA N/A · ROE -27.0%. (2010–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $258M | $463M | $621M | $566M | $249M | $253M | $112M | $17M | $10M | $5M | $4M |
| Enterprise Value | $319M | $524M | $601M | $578M | $247M | $244M | $106M | $15M | $9M | $4M | $3M |
| P/E Ratio → | -3.24 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 4.36 | 7.83 | 10.64 | 25.56 | 58.67 | — | — | — | — | — | — |
| P/B Ratio | 0.96 | 1.79 | 1.95 | 2.16 | 1.16 | 1.70 | 7.05 | 2.87 | 1.70 | 0.97 | 0.96 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.85 | 10.31 | 26.11 | 58.12 | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.5% | 22.5% | -12.4% | 11.6% | 37.4% | — | — | — | — | — | — |
| Operating Margin | -152.4% | -152.4% | -123.7% | -183.9% | -610.4% | — | — | — | — | — | — |
| Net Profit Margin | -131.7% | -131.7% | -105.2% | -115.6% | -545.5% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -27.0% | -27.0% | -21.2% | -10.7% | -12.7% | -10.4% | -20.2% | -17.5% | -7.0% | -5.0% | -5.0% |
| ROA | -19.0% | -19.0% | -17.1% | -9.3% | -12.1% | -9.4% | -14.9% | -16.7% | -6.7% | -4.7% | -4.6% |
| ROIC | -21.9% | -21.9% | -18.9% | -12.5% | -11.0% | -6.0% | -23.8% | -17.5% | -7.1% | -5.9% | -4.9% |
| ROCE | -23.2% | -23.2% | -21.1% | -15.1% | -13.9% | -6.8% | -15.1% | -17.4% | -7.4% | -6.4% | -6.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.44 | 0.44 | 0.06 | 0.08 | 0.00 | 0.00 | 0.03 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.24 | -0.06 | 0.05 | -0.01 | -0.06 | -0.39 | -0.35 | -0.15 | -0.29 | -0.03 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -24.32 | -24.32 | -41.61 | -6.44 | — | -753.31 | — | — | -18.29 | -66.05 | -27.72 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.03 | 8.03 | 2.91 | 4.03 | 2.93 | 1.95 | 7.69 | 7.44 | 3.11 | 8.93 | 0.29 |
| Quick Ratio | 7.64 | 7.64 | 2.21 | 4.03 | 3.76 | 1.95 | 7.69 | 7.44 | 3.16 | 9.19 | 0.33 |
| Cash Ratio | 7.02 | 7.02 | 2.12 | 3.88 | 1.56 | 1.55 | 7.33 | 7.34 | 3.05 | 8.68 | 0.25 |
| Asset Turnover | — | 0.14 | 0.15 | 0.07 | 0.02 | — | — | — | — | — | — |
| Inventory Turnover | 8.64 | 8.64 | 3.13 | 2174.78 | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 30.48 | — | 15.35 | 107.01 | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $187M | $182M | $144M | $106M | $65M | $50M | $45M | $38M | $36M | $24M |
Operational restart execution risk
According to current market data, enCore Energy trades at a price-to-sales multiple of 4.43, which appears to price in significant future production growth rather than current operational output, as evidenced by the lack of a meaningful forward P/E or EV/EBITDA multiple in the provided financial datasets.
The current valuation suggests that investors are paying a premium for the company's US-domiciled ISR assets, effectively ignoring the lack of current earnings. This multiple implies that the market expects a rapid transition to full-scale production, yet the absence of positive EBITDA metrics warrants caution regarding the sustainability of this valuation if production ramp-up timelines face further delays.
Based on reported figures, enCore Energy's ROIC has consistently remained in negative territory, reaching -5.5% in 2026Q1, which indicates that the company is currently destroying shareholder value as it deploys capital into the restart of its Texas-based ISR processing facilities rather than generating returns.
The persistent negative ROIC reflects the heavy capital intensity required to bring idled assets back online before they can contribute to the bottom line. Investors should monitor whether the company can achieve a positive spread between its cost of capital and returns on invested capital once the Alta Mesa facility reaches nameplate capacity.
As reported in financial statements, the company's asset turnover ratio remains extremely low at 0.04 in 2026Q1, highlighting the significant idle capacity and the long lead times inherent in the uranium mining cycle compared to more mature industrial peers in the energy sector.
The erratic nature of the cash conversion cycle, which saw significant swings in inventory days, suggests that management is still optimizing its supply chain and production throughput. This lack of operational efficiency is a structural hurdle that must be cleared to improve the company's overall cash flow profile.
According to recent SEC filings, enCore Energy's debt-to-equity ratio has climbed to 0.40 as of 2026Q1, a marked increase from historical levels, suggesting that the firm is increasingly reliant on external financing to bridge the gap between its current operational burn and future production revenue.
While the current interest coverage ratio of 2.28 in 2026Q1 provides a temporary buffer, the trend of rising debt levels in a high-rate environment poses a risk to the balance sheet. The company's ability to service this debt will depend heavily on the successful and timely execution of its production ramp-up strategy.
The price-to-sales ratio is the most commonly misapplied metric for enCore Energy, as it fails to distinguish between high-margin produced uranium and low-margin trading revenue, potentially misleading investors about the true underlying profitability of the company's ISR operations.
Analysts should instead focus on the 'Realized Price per Pound' and 'All-In Sustaining Costs' to gauge the actual earning power of the business. Relying on P/S ignores the significant non-cash charges and capital expenditures that are currently masking the true economic viability of the company's mining assets.
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying EU stock.
enCore Energy Corp.'s current P/E ratio is -3.2x. This places it at the 50th percentile of its historical range.
enCore Energy Corp.'s return on equity (ROE) is -27.0%. The historical average is -18.8%.
Based on historical data, enCore Energy Corp. is trading at a P/E of -3.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
enCore Energy Corp. has 22.5% gross margin and -152.4% operating margin.