Latest Ratios: P/E Ratio -19.0x · EV/EBITDA N/A · ROE -31.5%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $840M | $1.5B | $378M | — | — |
| Enterprise Value | $639M | $1.3B | $351M | — | — |
| P/E Ratio → | -19.05 | — | — | — | — |
| P/S Ratio | — | — | — | — | — |
| P/B Ratio | 3.44 | 6.57 | 11.95 | — | — |
| 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 |
|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — |
| Operating Margin | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -31.5% | -31.5% | -52.6% | -137.1% | -48.9% |
| ROA | -30.4% | -30.4% | -48.0% | -131.8% | -45.9% |
| ROIC | -255.5% | -255.5% | -309.9% | -26528.6% | — |
| ROCE | -35.8% | -35.8% | -52.2% | -137.8% | -50.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.06 | — | — |
| Debt / EBITDA | — | — | — | — | — |
| Net Debt / Equity | — | -0.90 | -0.84 | -0.99 | -1.01 |
| Net Debt / EBITDA | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — |
Net cash position: cash ($203M) exceeds total debt ($3M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 53.48 | 53.48 | 15.96 | 31.82 | 16.31 |
| Quick Ratio | 53.48 | 53.48 | 15.96 | 31.82 | 16.31 |
| Cash Ratio | 53.12 | 53.12 | 15.51 | 30.90 | 15.46 |
| Asset Turnover | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $38M | $26M | $29M | $29M |
Regulatory licensing binary outcome
According to current market data, NNE trades at a price-to-book ratio of 3.38, which suggests investors are pricing in the strategic value of its vertical integration in the nuclear fuel cycle rather than current earnings, which remain negative as reported in recent financial statements.
The lack of meaningful P/E or EV/EBITDA multiples reflects the company's pre-revenue status, making traditional valuation metrics largely irrelevant for assessing its current market capitalization. Investors appear to be assigning a premium based on the potential for NNE to become a critical infrastructure provider, though this valuation remains highly sensitive to the successful navigation of NRC licensing milestones.
Based on reported figures, NNE's ROIC has fluctuated significantly, reaching -5.0% in 2026Q2, which highlights the heavy capital investment required for R&D and regulatory compliance before the company can achieve any meaningful return on its invested capital compared to established industrial peers.
The volatility in ROIC, which saw a low of -134.9% in 2025Q2, underscores the inherent difficulty in measuring capital efficiency for a firm that is currently in a pure-play development cycle. Until the company transitions from FOAK engineering to standardized production, these negative returns should be viewed as a necessary cost of building the foundational infrastructure for its microreactor and fuel transportation business.
As reported in recent financial filings, NNE maintains a current ratio of 95.72 as of 2026Q2, providing a massive liquidity cushion that appears designed to fund the multi-year NRC licensing process and the development of proprietary nuclear fuel transportation infrastructure without immediate reliance on external debt.
This exceptionally high liquidity position is a strategic choice, allowing the company to operate independently of credit markets during a period of high interest rates. While this provides a significant runway, investors should monitor how quickly this cash is consumed by the escalating R&D and regulatory personnel costs required to advance the ZEUS and ODIN reactor programs.
Based on institutional research, NNE's valuation gap compared to peers like NuScale Power and Oklo Inc. suggests that the market is distinguishing NNE's integrated fuel-cycle strategy from pure-play reactor designers, despite all firms facing similar regulatory hurdles and pre-revenue operational realities in the current sector environment.
While peers like BWX Technologies demonstrate established cash flows and positive margins, NNE remains in a distinct category of speculative growth. The structural gap between NNE and its peers is likely driven by the perceived optionality of its fuel transportation and fabrication subsidiaries, which may offer a more diversified revenue stream than reactor-only business models.
As indicated by the company's financial history, the most commonly misapplied metric for NNE is the traditional P/E ratio, which obscures the firm's true value by focusing on current net losses rather than the cash runway and regulatory progress essential for a pre-revenue industrial technology company.
Investors should instead prioritize 'Cash Runway' and 'Regulatory Milestone Progress' as the primary indicators of business health. Using earnings-based multiples for a company that has yet to commercialize its core technology risks misinterpreting the firm's strategic progress as a failure of operational efficiency, when in fact the current losses are a deliberate investment in future market access.
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Quick answers to the most common questions about buying NNE stock.
Nano Nuclear Energy Inc's current P/E ratio is -19.0x. This places it at the 50th percentile of its historical range.
Nano Nuclear Energy Inc's return on equity (ROE) is -31.5%. The historical average is -67.5%.
Based on historical data, Nano Nuclear Energy Inc is trading at a P/E of -19.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.