Nuclear Energy Stocks With Real Revenue and Long Term Project Upside

Energy prices are easing and that is taking some pressure off central banks that had been raising rates in response to inflation. When policy makers sound less aggressive, investors often look again at long term themes like nuclear energy stocks that target reliable power. This article walks through 3 stocks from the Nuclear Energy Stocks screener that stand out on fundamentals and business focus.

The three stocks highlighted below are only a sample, and the full Nuclear Energy Stocks screen surfaced 55 more companies with narratives that could be just as compelling for different types of investors. If you want to identify your own highest conviction ideas in this theme, head straight to the Nuclear Energy Stocks screener.

Cameco (TSX:CCO)

Cameco Corporation is a large Canadian nuclear fuel company that supplies uranium and reactor services to power utilities across the Americas, Europe and Asia, with a market cap of about CA$57.6b. It earns most of its revenue from the Uranium segment at roughly CA$2.9b and from Fuel Services at about CA$551 million, while its Westinghouse-related revenue line is offset by unallocated adjustments in the latest figures. This mix gives Cameco exposure across the full fuel cycle from mining to reactor technology.

Cameco provides exposure to the nuclear power theme through both uranium production and its stake in Westinghouse, which is tied to an AP1000 reactor project pipeline and a potential US IPO. Analysts currently project higher earnings over the next few years, although current profit margins have eased and the P/S multiple is well above sector averages, so expectations are elevated. Recent production disruptions in Saskatchewan and at Cigar Lake illustrate that operational and supply chain issues can quickly affect output and earnings. For investors who believe long term contracting, policy support and new reactor builds will offset these risks, Cameco may merit closer consideration.

Cameco looks like a core nuclear power play with an extra twist from its Westinghouse stake and elevated P/S. To see how that mix lines up with cash flows, balance sheet and margins, review the analysis report for Cameco

Build your own nuclear power shortlist around Cameco

Cameco and the other two nuclear energy stocks in this article all came from a single custom screen, but the real value is setting filters that match how you invest. Use our flexible Screener to combine valuation, growth, balance sheet and risk checks, or start with the foundations in our curated Investing Ideas.

NexGen Energy (TSX:NXE)

NexGen Energy is a uranium exploration and development company focused on the Rook I project in Saskatchewan’s Athabasca Basin, where it holds a 100% interest across more than 35,000 hectares. As an early stage company it is still moving from exploration toward development, rather than generating meaningful operating revenue. NexGen Energy has a market cap of about CA$9.4b, which reflects investor focus on its resource potential and progress at Rook I rather than current earnings.

Investors looking at NexGen Energy are really weighing a future producing asset against present day financial strain. Rook I construction hit all key milestones in Q2 2026 on time and on budget, and the company has secured term sheets for 11.3 million pounds of uranium, all linked to future spot prices. At the same time, NexGen remains unprofitable, has no revenue expected over the next year, relies on external borrowing and has seen both shareholder dilution and insider selling. If you want exposure to a large uranium development that is advancing but still carries clear funding and execution risk, this is a stock that deserves a closer look before drawing any conclusions.

NexGen Energy sits at the point where a potential tier one uranium project meets real funding strain and shareholder dilution. Get the full context on how that trade off looks in the 1 key reward and 4 important warning signs (1 is major!)

WSP Global (TSX:WSP)

WSP Global is a Montreal based consulting firm that helps governments and companies plan, design and manage large infrastructure and energy projects, including lower carbon power such as nuclear. The company also advises on environmental permitting, decarbonization, digital building design and complex engineering problems across transport, water and urban infrastructure. WSP Global has a market cap of about CA$24.4b.

For investors following the nuclear and infrastructure theme, WSP Global offers a mix of consulting exposure to lower carbon power, a record CA$20.1b backlog and earnings growth that has recently outpaced both the Canadian market and construction peers. The stock is flagged as trading below some fair value estimates and cash flow models, yet it carries clear risks around high debt, reliance on public spending and ongoing acquisitions that need smooth execution. If you want a nuclear related play that is tied to planning and design rather than fuel or plant operation, WSP Global is a company worth studying in more depth.

WSP Global’s record CA$20.1b backlog and nuclear related work suggest a growth story that many investors may be underestimating. See how the analyst forecasts for WSP Global fits alongside its debt load and acquisition pace to reveal what could matter most next.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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