Latest Ratios: P/E Ratio -6.5x · EV/EBITDA N/A · ROE -71.2%. (2005–2025 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 | $513M | $512M | $365M | $400M | $254M | $239M | $132M | $94M | $99M | $101M | $75M |
| Enterprise Value | $457M | $456M | $290M | $347M | $232M | $205M | $141M | $99M | $107M | $116M | $98M |
| P/E Ratio → | -6.45 | — | — | — | — | — | — | — | 21.74 | 1367.20 | — |
| P/S Ratio | 18.84 | 18.82 | 10.84 | 22.65 | 13345.86 | 14921.50 | 15.83 | 2.92 | 4.19 | 2.63 | 2.76 |
| P/B Ratio | 6.14 | 6.61 | 2.75 | 5.35 | 4.06 | 3.44 | 3.86 | 2.12 | 1.90 | 2.60 | 2.08 |
| P/FCF | — | — | — | — | — | — | — | 25.39 | — | 18.58 | 24.83 |
| P/OCF | — | — | — | — | — | — | — | 23.60 | — | 17.93 | 22.63 |
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 | — | 16.78 | 8.62 | 19.65 | 12191.81 | 12805.94 | 16.90 | 3.07 | 4.55 | 3.03 | 3.58 |
| EV / EBITDA | — | — | — | — | — | — | — | — | 20.51 | 16.63 | 16.63 |
| EV / EBIT | — | — | — | — | — | — | — | — | 81.74 | 83.93 | 360.89 |
| EV / FCF | — | — | — | — | — | — | — | 26.69 | — | 21.45 | 32.20 |
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 | 0.3% | 0.3% | -26.6% | -9.5% | -36010.5% | -43650.0% | -55.9% | 6.1% | 48.1% | 36.4% | 42.0% |
| Operating Margin | -255.0% | -255.0% | -187.2% | -174.5% | -104178.9% | -104731.3% | -160.4% | -25.7% | 5.6% | 3.6% | 1.0% |
| Net Profit Margin | -275.3% | -275.3% | -157.8% | -173.4% | -90210.5% | -143362.5% | -177.8% | -26.1% | 19.3% | 0.2% | -11.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -71.2% | -71.2% | -51.2% | -44.6% | -26.0% | -44.3% | -37.7% | -17.5% | 10.0% | 0.2% | -8.8% |
| ROA | -32.1% | -32.1% | -33.0% | -25.9% | -15.0% | -22.6% | -17.2% | -8.8% | 4.8% | 0.1% | -3.2% |
| ROIC | -130.4% | -130.4% | -118.7% | -74.3% | -39.0% | -32.0% | -21.7% | -11.4% | 1.7% | 1.8% | 0.3% |
| ROCE | -33.1% | -33.1% | -43.0% | -28.1% | -18.3% | -17.4% | -16.0% | -9.1% | 1.5% | 1.7% | 0.3% |
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 | 0.88 | 0.88 | 0.01 | 0.09 | 0.18 | 0.18 | 0.39 | 0.28 | 0.28 | 0.50 | 0.66 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | 2.82 | 2.78 | 4.07 |
| Net Debt / Equity | — | -0.72 | -0.56 | -0.71 | -0.35 | -0.49 | 0.26 | 0.11 | 0.16 | 0.40 | 0.62 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | 1.59 | 2.22 | 3.81 |
| Debt / FCF | — | — | — | — | — | — | — | 1.30 | — | 2.87 | 7.37 |
| Interest Coverage | -37.47 | -37.47 | — | — | -36.02 | -30.29 | -19.82 | -11.60 | 1.30 | 1.01 | 0.14 |
Net cash position: cash ($124M) exceeds total debt ($68M)
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 | 5.44 | 5.44 | 5.99 | 6.35 | 6.66 | 7.81 | 1.42 | 3.64 | 1.21 | 1.16 | 0.79 |
| Quick Ratio | 4.56 | 4.56 | 4.91 | 6.09 | 5.16 | 7.81 | 1.42 | 3.64 | 0.97 | 0.59 | 0.29 |
| Cash Ratio | 4.48 | 4.48 | 3.95 | 5.95 | 5.00 | 7.42 | 1.19 | 3.24 | 0.85 | 0.49 | 0.19 |
| Asset Turnover | — | 0.10 | 0.17 | 0.14 | 0.00 | 0.00 | 0.10 | 0.36 | 0.23 | 0.43 | 0.30 |
| Inventory Turnover | 1.12 | 1.12 | 2.06 | 7.53 | 0.69 | — | — | — | 6.63 | 5.40 | 3.86 |
| Days Sales Outstanding | — | 9.50 | 182.63 | 1.59 | 153.68 | 91.25 | — | 0.25 | 0.48 | 0.31 | 0.21 |
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 | — | — | — | — | — | — | — | — | 4.6% | 0.1% | — |
| FCF Yield | — | — | — | — | — | — | — | 3.9% | — | 5.4% | 4.0% |
| 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 | — | $368M | $318M | $260M | $220M | $196M | $164M | $160M | $152M | $148M | $142M |
Operational ramp-up execution risk
According to current market data, Ur-Energy trades at a price-to-sales multiple of 19.72, a valuation that appears to price in significant future production growth rather than current financial performance, as the company continues to navigate a period of negative earnings and high capital intensity.
The elevated P/S ratio suggests that investors are valuing the company based on its permitted ISR capacity and potential output rather than its current, thin gross margins. This valuation implies a market expectation of rapid production scaling, which warrants caution given the historical volatility in realized uranium prices and the company's ongoing transition phase.
Based on reported financial statements, Ur-Energy's gross margin has fluctuated significantly, reaching 31.6% in 2026Q1 but remaining inconsistent, which highlights the difficulty of achieving stable profitability while the company absorbs the high fixed-cost burden of maintaining its Lost Creek processing infrastructure during the current ramp-up.
The erratic nature of these margins suggests that the company is highly sensitive to the timing of uranium deliveries and the mix of spot versus contract sales. Investors should monitor whether the recent improvement in gross margin can be sustained as production volumes increase, or if it remains vulnerable to the high cash costs of wellfield development.
As indicated by the company's reported figures, the ROIC has remained deeply negative, hitting -59.7% in 2026Q1, which reflects the heavy upfront investment in wellfield development that has yet to generate a commensurate return in the form of operational cash flow or net income.
The persistent decay in returns on invested capital is a direct consequence of the company's strategy to prioritize asset readiness over immediate profitability. This trend suggests that the company is currently in a capital-consuming phase, and long-term value creation will depend on its ability to transition these investments into high-margin production.
Data from recent filings reveals a cash conversion cycle that has expanded to 589 days in 2026Q1, a significant increase that underscores the operational challenges of managing inventory and receivables during the transition from care and maintenance to active, large-scale uranium production and delivery cycles.
The extreme volatility in the cash conversion cycle, particularly the high days inventory outstanding, suggests that the company is accumulating significant processed material that has yet to be converted into revenue. This inefficiency appears to be a structural byproduct of the current ramp-up phase and requires careful monitoring to ensure it does not lead to liquidity constraints.
The price-to-sales ratio is frequently misapplied to Ur-Energy, as it fails to account for the company's lumpy revenue recognition and the high proportion of capital expenditures that are not reflected in the top-line, potentially misleading investors regarding the company's true underlying earning power.
Because revenue is only recognized upon physical delivery, the P/S ratio can fluctuate wildly based on delivery schedules rather than operational success. A more appropriate metric for this business model would be an EV-to-production-capacity ratio, which better captures the value of the company's permitted ISR assets regardless of the timing of individual sales.
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying URG stock.
Ur-Energy Inc.'s current P/E ratio is -6.5x. The historical average is 21.7x.
Ur-Energy Inc.'s return on equity (ROE) is -71.2%. The historical average is -23.8%.
Based on historical data, Ur-Energy Inc. is trading at a P/E of -6.5x. Compare with industry peers and growth rates for a complete picture.
Ur-Energy Inc. has 0.3% gross margin and -255.0% operating margin.