Nuscale Power Corp (SMR)

NYSEIndustrialsElectrical Equipment & PartsSnapshot 2026-10-23

$5.380.00%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Nuscale Power Corp’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	9.18M
EPS	—	-0.121
Annual ending 2026-12-31
Revenue	—	16.78M
EPS	—	-0.51
Annual ending 2027-12-31
Revenue	—	109.2M
EPS	—	-0.608

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
expansion of nuclear training centers and global partnerships	NuScale leads in modular nuclear power with new training centers and global partnerships.	Intact	no new training centers or partnership progress announced in next 4 quarters	Qualitative progress confirmed (deal closing, SMR interest) vs target of continued expansion NuScale closing a transformative deal and Europe betting big on SMRs supports commercial deployment objectives. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
earnings per share (EPS)	A primary condition in Nuscale Power Corp's published investment case. The stated target is EPS improves from -$0.51 in 2026 to better than -$0.69 in 2027.	Improving	EPS worsens beyond -$0.69 in FY27	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
annual revenue growth	A primary condition in Nuscale Power Corp's published investment case. The stated target is >=207% YoY growth from 2026 to 2027.	Improving	annual revenue growth falls below 0% in FY27	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$-0.61

$-0.73 → $-0.61 · observed estimates

FY2027 revenue$0.11B

$0.17B → $0.11B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-0.73	$169,270,590	11 / 15
2026-07-25	$-0.73	$169,270,590	11 / 15
2026-07-26	$-0.73	$169,270,590	11 / 15
2026-07-27	$-0.73	$169,270,590	11 / 15
2026-07-28	$-0.73	$169,270,590	11 / 15
2026-07-29	$-0.73	$169,270,590	11 / 15
2026-07-30	$-0.73	$169,270,590	11 / 15
2026-07-31	$-0.73	$157,511,327	9 / 10
2026-08-01	$-0.73	$157,511,327	9 / 10
2026-08-02	$-0.73	$169,270,590	11 / 15
2026-08-03	$-0.73	$157,511,327	9 / 10
2026-08-04	$-0.73	$169,270,590	11 / 15
2026-08-05	$-0.73	$169,270,590	11 / 15
2026-08-06	$-0.73	$157,511,327	9 / 10
2026-08-08	$-0.71	$148,831,060	10 / 15
2026-08-09	$-0.71	$148,831,060	10 / 15
2026-08-10	$-0.75	$164,306,592	9 / 10
2026-08-12	$-0.75	$164,306,592	9 / 10
2026-08-13	$-0.66	$140,960,370	11 / 16
2026-08-14	$-0.75	$164,306,592	9 / 10
2026-08-15	$-0.75	$164,306,592	9 / 10
2026-08-16	$-0.75	$164,306,592	9 / 11
2026-08-17	$-0.75	$164,306,592	9 / 11
2026-08-18	$-0.75	$164,306,592	9 / 11
2026-08-19	$-0.75	$164,306,592	9 / 11
2026-08-20	$-0.67	$143,968,581	9 / 11
2026-08-21	$-0.67	$134,497,993	9 / 11
2026-08-22	$-0.67	$134,497,993	8 / 11
2026-08-23	$-0.67	$134,497,993	8 / 11
2026-08-24	$-0.67	$134,497,993	8 / 11
2026-08-25	$-0.67	$134,497,993	8 / 11
2026-08-26	$-0.67	$134,497,993	8 / 11
2026-08-27	$-0.67	$134,497,993	8 / 11
2026-08-28	$-0.67	$134,497,993	8 / 11
2026-08-29	$-0.67	$134,497,993	8 / 11
2026-08-30	$-0.67	$134,497,993	8 / 11
2026-08-31	$-0.67	$134,497,993	8 / 11
2026-09-01	$-0.61	$116,916,618	8 / 11
2026-09-02	$-0.61	$116,916,618	8 / 11
2026-09-03	$-0.61	$116,916,618	8 / 11
2026-09-04	$-0.61	$116,916,618	8 / 11
2026-09-05	$-0.61	$116,916,618	8 / 11
2026-09-06	$-0.61	$116,916,618	8 / 11
2026-09-07	$-0.61	$116,916,618	8 / 11
2026-09-08	$-0.61	$116,916,618	8 / 11
2026-09-09	$-0.61	$116,916,618	8 / 11
2026-09-10	$-0.61	$116,916,618	8 / 11
2026-09-11	$-0.61	$116,916,618	8 / 11
2026-09-12	$-0.62	$116,916,618	8 / 11
2026-09-13	$-0.62	$116,916,618	8 / 11
2026-09-14	$-0.62	$116,916,618	8 / 11
2026-09-15	$-0.62	$116,916,618	8 / 11
2026-09-16	$-0.62	$116,916,618	8 / 11
2026-09-17	$-0.62	$116,916,618	8 / 11
2026-09-18	$-0.62	$109,829,624	8 / 10
2026-09-19	$-0.62	$109,829,624	8 / 10
2026-09-20	$-0.62	$109,829,624	8 / 10
2026-09-21	$-0.62	$109,829,624	8 / 10
2026-09-22	$-0.62	$109,829,624	8 / 10
2026-09-23	$-0.62	$109,829,624	8 / 10
2026-09-24	$-0.62	$109,829,624	8 / 10
2026-09-25	$-0.62	$109,829,624	8 / 10
2026-09-26	$-0.62	$109,829,624	8 / 10
2026-09-27	$-0.62	$109,829,624	8 / 10
2026-09-28	$-0.62	$109,829,624	8 / 10
2026-09-29	$-0.62	$109,829,624	8 / 10
2026-09-30	$-0.62	$109,829,624	8 / 10
2026-10-01	$-0.62	$109,829,624	8 / 10
2026-10-02	$-0.62	$109,829,624	8 / 10
2026-10-03	$-0.62	$109,829,624	8 / 10
2026-10-04	$-0.62	$109,829,624	8 / 10
2026-10-05	$-0.62	$109,829,624	8 / 10
2026-10-06	$-0.62	$109,829,624	8 / 10
2026-10-07	$-0.62	$109,829,624	8 / 10
2026-10-08	$-0.62	$109,829,624	8 / 10
2026-10-09	$-0.62	$109,829,624	8 / 10
2026-10-10	$-0.62	$109,829,624	8 / 10
2026-10-11	$-0.62	$109,829,624	8 / 10
2026-10-12	$-0.62	$109,829,624	8 / 10
2026-10-13	$-0.62	$109,829,624	8 / 10
2026-10-14	$-0.62	$109,829,624	8 / 10
2026-10-15	$-0.62	$109,829,624	8 / 10
2026-10-16	$-0.62	$109,829,624	8 / 10
2026-10-17	$-0.62	$109,829,624	8 / 10
2026-10-18	$-0.62	$109,829,624	8 / 10
2026-10-19	$-0.62	$109,829,624	8 / 10
2026-10-20	$-0.62	$109,829,624	8 / 10
2026-10-21	$-0.61	$109,829,624	8 / 10
2026-10-22	$-0.61	$109,829,624	8 / 10
2026-10-23	$-0.61	$109,204,624	8 / 10
2026-10-24	$-0.61	$109,204,624	8 / 10

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	6	9	2
2026-06-01	6	9	2
2026-07-01	6	10	2
2026-08-01	6	10	2
2026-09-01	6	10	3
2026-10-01	6	9	4

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 6 Buy / Strong Buy · 9 Hold · 4 Sell / Strong Sell

0 upgrades1 downgrades2 maintains

Recent actions · Sep 25–Oct 24 · 3 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Truist FinancialOct 22 · prior Jul 13

$10.00 → $8.00-20.0%

BarclaysOct 20 · prior Jul 22

$11.00 → $5.00-54.5%

$0$6.05$12.10

0 raises · 2 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

earnings per share (EPS)Direct metric needs a verified mapping
annual revenue growthDirect metric needs a verified mapping

Next proof point

Nov 5, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

2 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

3.2%Typical daily move · historical

Downside history

-88.0%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Nuscale Power Corp outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a high-risk, speculative growth thesis, not an established earnings compounder: SMR is loss-making and current revenue is limited. The thesis is in a watch state, with management focused on commercial deployment and supply-chain readiness.

What's priced into Nuscale Power Corp

The evidence labels the valuation stretched, with a 74% premium versus peers and a low-confidence model. The identified expectations gap is modest, and the premium appears tied to future optionality, meaning investors are already assigning value to possible commercial progress before it shows up as substantial revenue.

What the fundamentals likely do

Near term, results may remain weak: quarterly revenue fell to $75K from $8.05M a year earlier after prior FEED Phase 2 work ended, while research and development spending increased. Management reports $1.9 billion of liquidity, but continuing losses and reported operating cash outflows make cash use an important watch point; recent earnings history is uneven, and the next report carries elevated miss risk.

What Nuscale Power Corp hinges on

Over the multi-year view, the central question is whether work with TVA and European partners, along with supply-chain progress, leads to commercial deployment agreements and meaningful revenue. Near-term sector signals also matter: continued strength from ETN, VRT, and BE could support Industrials sentiment, while weaker results or materially slower GDP growth could add pressure.