NYSE : CCJ
Cameco Corporation — Financial statements
Energy · Uranium · Canada
Last price 76.91 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 33.59B
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Financial statements
Cameco Corporation (CCJ) reported revenue of 3.48B CAD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.48B | 3.48B | 3.14B | 2.59B | 1.87B | 1.47B |
| Cost of Revenue | 2.30B | 2.22B | 2.07B | 1.81B | 1.46B | 1.24B |
| Gross Profit | 1.18B | 1.26B | 1.06B | 781.99M | 410.67M | 232.71M |
| Selling, General & Admin | 348.63M | 311.25M | 253.15M | 245.54M | 166.53M | 127.57M |
| Research & Development | 51.38M | 38.47M | 36.54M | 21.04M | 12.18M | 7.17M |
| Other Operating Expenses | 4.69M | 12.32M | -1.44M | 32.11M | 51.92M | 13.04M |
| Operating Expenses | 728.71M | 682.77M | 588.37M | 536.56M | 418.59M | 346.20M |
| Operating Income | 448.39M | 580.60M | 474.91M | 245.43M | -7.92M | -113.50M |
| Interest Expense | -51.98M | -54.88M | -92.04M | -53.61M | -46.65M | -39.94M |
| Interest & Investment Income | 32.13M | 23.17M | 21.23M | 111.67M | 37.50M | 6.80M |
| Earnings From Equity Investments | 144.68M | 216.39M | -10.84M | 154.46M | 93.99M | 68.28M |
| Currency Exchange Gain (Loss) | 30.39M | -61.74M | 65.52M | 15.69M | 74.13M | 446.00K |
| Other Non Operating Income (Expenses) | -116.80M | 76.84M | -201.02M | 15.70M | -83.05M | -3.00M |
| EBT Excluding Unusual Items | 486.82M | 780.38M | 257.76M | 489.34M | 68.00M | -80.90M |
| Merger & Restructuring Charges | -1.50M | |||||
| Gain (Loss) on Sale of Assets | -2.78M | -3.12M | -1.04M | -2.19M | -514.00K | -3.80M |
| Legal Settlements | -4.00M | |||||
| Other Unusual Items | 25.70M | 22.80M | -19.15M | |||
| Pretax Income | 509.74M | 777.26M | 256.72M | 487.15M | 84.80M | -103.86M |
| Income Tax Expense | 112.01M | 187.72M | 84.87M | 126.34M | -4.47M | -1.20M |
| Earnings From Continuing Operations | 397.73M | 589.54M | 171.84M | 360.82M | 89.26M | -102.65M |
| Minority Interest in Earnings | 19.00K | 35.00K | 11.00K | 31.00K | 118.00K | 77.00K |
| Net Income | 397.75M | 589.58M | 171.85M | 360.85M | 89.38M | -102.58M |
| Net Income to Common | 397.75M | 589.58M | 171.85M | 360.85M | 89.38M | -102.58M |
| Shares Outstanding (Basic) | 435.50M | 435.36M | 434.87M | 433.38M | 405.49M | 397.63M |
| Shares Outstanding (Diluted) | 435.64M | 435.58M | 435.96M | 435.36M | 407.13M | 397.63M |
| EPS (Basic) | 0.91 | 1.35 | 0.40 | 0.83 | 0.22 | -0.26 |
| EPS (Diluted) | 0.91 | 1.35 | 0.39 | 0.83 | 0.22 | -0.26 |
| Free Cash Flow | 358.73M | 1.08B | 693.65M | 534.50M | 161.16M | 359.50M |
| Free Cash Flow Per Share | 0.82 | 2.47 | 1.59 | 1.23 | 0.40 | 0.90 |
| Dividend Per Share | 0.24 | 0.24 | 0.16 | 0.12 | 0.12 | 0.08 |
| Gross Margin | 33.83% | 36.28% | 33.91% | 30.22% | 21.98% | 15.78% |
| Operating Margin | 12.89% | 16.68% | 15.14% | 9.48% | -0.42% | -7.70% |
| Profit Margin | 11.43% | 16.93% | 5.48% | 13.94% | 4.78% | -6.95% |
| Free Cash Flow Margin | 10.31% | 30.89% | 22.12% | 20.66% | 8.63% | 24.37% |
| EBITDA | 778.33M | 911.29M | 789.34M | 502.89M | 196.32M | 96.50M |
| EBITDA Margin | 22.37% | 26.17% | 25.17% | 19.43% | 10.51% | 6.54% |
| D&A For EBITDA | 329.94M | 330.69M | 314.43M | 257.46M | 204.24M | 209.99M |
| EBIT | 448.39M | 580.60M | 474.91M | 245.43M | -7.92M | -113.50M |
| EBIT Margin | 12.89% | 16.68% | 15.14% | 9.48% | -0.42% | -7.70% |
| Effective Tax Rate | 21.97% | 24.15% | 33.06% | 25.93% |
Balance sheet
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 859.82M | 1.11B | 600.46M | 566.81M | 1.14B | 1.25B |
| Short-Term Investments | 99.60M | 1.14B | 84.91M | |||
| Cash & Short-Term Investments | 859.82M | 1.21B | 600.46M | 566.81M | 2.28B | 1.33B |
| Accounts Receivable | 305.06M | 338.43M | 309.57M | 413.79M | 167.69M | 271.01M |
| Other Receivables | 49.26M | 64.06M | 40.83M | 10.54M | 48.16M | 10.67M |
| Receivables | 354.32M | 402.49M | 350.40M | 424.33M | 215.85M | 281.69M |
| Inventory | 1.06B | 1.01B | 972.25M | 841.61M | 822.61M | 504.86M |
| Other Current Assets | 8.93M | 68.00K | 9.14M | 1.33M | 22.65M | |
| Total Current Assets | 2.28B | 2.64B | 1.92B | 1.84B | 3.32B | 2.14B |
| Property, Plant & Equipment | 3.60B | 3.33B | 3.29B | 3.37B | 3.47B | 3.58B |
| Long-Term Investments | 2.96B | 2.99B | 3.22B | 3.17B | 210.97M | 233.24M |
| Other Intangible Assets | 33.83M | 36.16M | 39.82M | 43.58M | 47.12M | 51.25M |
| Long-Term Deferred Tax Assets | 595.93M | 666.46M | 843.13M | 892.86M | 984.07M | 937.58M |
| Other Long-Term Assets | 916.96M | 647.25M | 595.90M | 613.77M | 595.51M | 577.53M |
| Total Assets | 10.38B | 10.30B | 9.91B | 9.93B | 8.63B | 7.52B |
| Accounts Payable | 563.14M | 190.72M | 129.83M | 99.85M | 249.96M | 213.38M |
| Accrued Expenses | 553.58M | 367.56M | 368.85M | 59.57M | 61.03M | |
| Current Portion of Long-Term Debt | 756.00K | 285.71M | 499.82M | |||
| Current Portion of Leases | 3.34M | |||||
| Current Income Taxes Payable | 21.64M | 16.52M | 21.23M | 24.08M | 6.50M | 4.13M |
| Other Current Liabilities | 308.59M | 305.27M | 381.44M | 196.51M | 244.81M | 135.20M |
| Total Current Liabilities | 893.37M | 1.07B | 1.19B | 1.19B | 560.84M | 413.74M |
| Long-Term Debt | 996.95M | 997.27M | 995.58M | 1.28B | 1.08B | 1.01B |
| Long-Term Leases | 12.09M | 11.59M | 9.84M | 10.82M | 9.29M | 4.87M |
| Other Long-Term Liabilities | 1.24B | 1.32B | 1.35B | 1.36B | 1.15B | 1.24B |
| Total Liabilities | 3.14B | 3.40B | 3.54B | 3.84B | 2.80B | 2.67B |
| Common Stock | 2.94B | 2.94B | 2.94B | 2.91B | 2.88B | 1.90B |
| Additional Paid-In Capital | 193.86M | 211.41M | 210.78M | 215.68M | 224.69M | 230.04M |
| Retained Earnings | 3.81B | 3.61B | 3.10B | 2.98B | 2.70B | 2.64B |
| Comprehensive Income & Other | 292.76M | 144.94M | 118.89M | -15.28M | 34.65M | 72.80M |
| Total Common Equity | 7.23B | 6.90B | 6.36B | 6.09B | 5.84B | 4.85B |
| Minority Interest | 31.00K | 15.00K | 26.00K | 4.00K | 11.00K | 127.00K |
| Shareholders' Equity | 7.23B | 6.90B | 6.36B | 6.09B | 5.84B | 4.85B |
| Total Liabilities & Equity | 10.38B | 10.30B | 9.91B | 9.93B | 8.63B | 7.52B |
| Total Debt | 1.01B | 1.01B | 1.29B | 1.79B | 1.08B | 1.02B |
| Net Cash (Debt) | -149.22M | 201.50M | -690.67M | -1.23B | 1.20B | 315.47M |
| Net Cash Per Share | -0.34 | 0.46 | -1.58 | -2.82 | 2.94 | 0.79 |
| Filing Date Shares Outstanding | 435.53M | 435.53M | 435.31M | 434.18M | 432.72M | 398.29M |
| Total Common Shares Outstanding | 435.53M | 435.46M | 435.31M | 434.18M | 432.52M | 398.06M |
| Working Capital | 1.38B | 1.57B | 737.43M | 652.79M | 2.76B | 1.73B |
| Book Value Per Share | 16.61 | 15.85 | 14.62 | 14.04 | 13.49 | 12.17 |
| Tangible Book Value | 7.20B | 6.87B | 6.32B | 6.05B | 5.79B | 4.79B |
| Tangible Book Value Per Share | 16.53 | 15.77 | 14.53 | 13.94 | 13.38 | 12.04 |
| Land | 5.28B | 5.29B | 5.21B | 5.20B | 5.15B | |
| Machinery | 3.21B | 3.11B | 2.99B | 2.90B | 2.82B | |
| Construction In Progress | 355.77M | 265.67M | 237.28M | 234.59M | 167.20M |
Cash flow statement
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 397.75M | 589.58M | 171.85M | 360.85M | 89.38M | -102.58M |
| Depreciation & Amortization | 333.00M | 333.75M | 316.94M | 259.94M | 206.35M | 211.86M |
| Loss (Gain) From Sale of Assets | 2.78M | 3.12M | 1.04M | 2.19M | 514.00K | 3.80M |
| Loss (Gain) on Equity Investments | -144.68M | -216.39M | 10.84M | -154.46M | -93.99M | -68.28M |
| Stock-Based Compensation | 11.54M | 9.66M | 6.78M | 3.69M | 3.32M | 4.54M |
| Other Operating Activities | 301.10M | 480.19M | 450.05M | 281.82M | 218.46M | 121.70M |
| Change in Accounts Receivable | -97.78M | -15.25M | 78.56M | -242.42M | 99.60M | -75.68M |
| Change in Inventory | -106.60M | 20.15M | -111.53M | 46.80M | -226.36M | 294.40M |
| Change in Accounts Payable | 120.77M | 232.14M | 21.40M | 169.04M | 16.40M | 91.76M |
| Change in Other Net Operating Assets | -28.51M | -28.51M | -40.66M | -39.33M | -9.07M | -23.23M |
| Operating Cash Flow | 789.37M | 1.41B | 905.29M | 688.14M | 304.61M | 458.29M |
| Capital Expenditures | -430.64M | -333.02M | -211.63M | -153.63M | -143.45M | -98.78M |
| Sale of Property, Plant & Equipment | 314.00K | 245.00K | 377.00K | 69.00K | 780.00K | 5.36M |
| Cash Acquisitions | -113.20M | -3.03B | -101.68M | |||
| Investment in Securities | -99.60M | 1.14B | -1.04B | -59.92M | ||
| Other Investing Activities | -1.14M | 4.82M | 1.00M | -2.00M | 73.05M | |
| Investing Cash Flow | -543.52M | -433.52M | -206.44M | -2.04B | -1.29B | -80.30M |
| Long-Term Debt Issued | 497.02M | 816.58M | ||||
| Long-Term Debt Repaid | -287.97M | -1.04B | -2.43M | -2.91M | -2.73M | |
| Lease Payments | -2.77M | -2.73M | -2.05M | -2.43M | -2.91M | -2.73M |
| Net Debt Issued (Repaid) | -2.77M | -287.97M | -546.62M | 814.15M | -2.91M | -2.73M |
| Issuance of Common Stock | 1.92M | 2.17M | 16.66M | 27.54M | 962.92M | 26.77M |
| Common Dividends Paid | -104.48M | -104.48M | -69.64M | -52.08M | -51.90M | -31.84M |
| Other Financing Activities | -51.16M | -52.64M | -88.82M | -40.80M | -38.86M | -38.98M |
| Financing Cash Flow | -156.48M | -442.93M | -688.42M | 748.81M | 869.26M | -46.77M |
| Foreign Exchange Rate Adjustments | -8.20M | -17.59M | 23.23M | 31.04M | 13.18M | -2.15M |
| Net Cash Flow | 81.17M | 514.40M | 33.65M | -576.87M | -103.77M | 329.06M |
| Free Cash Flow | 358.73M | 1.08B | 693.65M | 534.50M | 161.16M | 359.50M |
| Free Cash Flow Margin | 10.31% | 30.89% | 22.12% | 20.66% | 8.63% | 24.37% |
| Free Cash Flow Per Share | 0.82 | 2.47 | 1.59 | 1.23 | 0.40 | 0.90 |
| Levered Free Cash Flow | 197.08M | 479.94M | 556.59M | 186.73M | -23.46M | 369.29M |
| Unlevered Free Cash Flow | 229.57M | 514.24M | 614.11M | 220.23M | 5.69M | 394.26M |
| Free Cash Flow After Leases | 355.96M | 1.07B | 691.60M | 532.08M | 158.25M | 356.78M |
| Cash Interest Paid | 51.15M | 52.64M | 88.82M | 40.80M | 38.86M | 38.98M |
| Cash Income Tax Paid | 295.24M | 90.21M | 38.49M | -70.37M | 1.52M | -9.58M |
| Change in Working Capital | -112.11M | 208.52M | -52.23M | -65.90M | -119.43M | 287.25M |
Ratios
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 33.59B | 39.91B | 22.35B | 18.77B | 9.81B | 8.67B |
| Enterprise Value | 33.69B | 40.08B | 23.21B | 17.60B | 9.59B | 8.40B |
| Last Close Price | 76.91 | 91.49 | 51.29 | 42.93 | 22.54 | 21.60 |
| PE Ratio | 118.15 | 92.82 | 187.16 | 68.69 | 148.50 | |
| PS Ratio | 13.71 | 15.72 | 10.26 | 9.58 | 7.11 | 7.44 |
| PB Ratio | 6.59 | 7.93 | 5.05 | 4.07 | 2.27 | 2.27 |
| P/TBV Ratio | 6.62 | 7.97 | 5.09 | 4.10 | 2.29 | 2.29 |
| P/FCF Ratio | 130.89 | 50.88 | 46.37 | 46.37 | 82.36 | 30.53 |
| P/OCF Ratio | 59.48 | 38.85 | 35.53 | 36.02 | 43.58 | 23.95 |
| EV/Sales Ratio | 13.75 | 15.78 | 10.65 | 8.98 | 6.95 | 7.21 |
| EV/EBITDA Ratio | 61.46 | 60.30 | 42.31 | 46.23 | 66.13 | 110.20 |
| EV/EBIT Ratio | 106.68 | 94.64 | 70.33 | 94.72 | ||
| EV/FCF Ratio | 131.30 | 51.10 | 48.15 | 43.49 | 80.56 | 29.58 |
| Debt / Equity Ratio | 0.14 | 0.15 | 0.20 | 0.29 | 0.19 | 0.21 |
| Debt / EBITDA Ratio | 1.29 | 1.11 | 1.63 | 3.55 | 5.46 | 10.34 |
| Debt / FCF Ratio | 2.81 | 0.94 | 1.86 | 3.36 | 6.73 | 2.83 |
| Net Debt / Equity Ratio | 0.02 | -0.03 | 0.11 | 0.20 | -0.20 | -0.07 |
| Net Debt / EBITDA Ratio | 0.19 | -0.22 | 0.88 | 2.44 | -6.10 | -3.27 |
| Net Debt / FCF Ratio | 0.42 | -0.19 | 1.00 | 2.30 | -7.43 | -0.88 |
| Asset Turnover | 0.35 | 0.34 | 0.32 | 0.28 | 0.23 | 0.20 |
| Inventory Turnover | 2.35 | 2.23 | 2.29 | 2.17 | 2.20 | 1.95 |
| Quick Ratio | 1.36 | 1.51 | 0.80 | 0.83 | 4.45 | 3.90 |
| Current Ratio | 2.55 | 2.47 | 1.62 | 1.55 | 5.92 | 5.18 |
| Return on Equity (ROE) | 5.68% | 8.89% | 2.76% | 6.05% | 1.67% | -2.09% |
| Return on Assets (ROA) | 2.79% | 3.59% | 2.99% | 1.65% | -0.06% | -0.94% |
| Return on Invested Capital (ROIC) | 4.86% | 6.40% | 4.42% | 3.04% | -0.17% | -2.38% |
| Return on Capital Employed (ROCE) | 4.70% | 6.30% | 5.40% | 2.80% | -0.10% | -1.60% |
| Earnings Yield | 0.85% | 1.08% | 0.53% | 1.46% | 0.67% | -0.94% |
| FCF Yield | 0.76% | 1.97% | 2.16% | 2.16% | 1.21% | 3.28% |
| Dividend Yield | 0.22% | 0.19% | 0.22% | 0.21% | 0.39% | 0.29% |
| Payout Ratio | 26.37% | 17.72% | 40.52% | 14.43% | 58.06% | |
| Buyback Yield / Dilution | 0.03% | 0.09% | -0.14% | -6.93% | -2.39% | -0.46% |
| Total Shareholder Return | 0.25% | 0.28% | 0.08% | -6.72% | -2.00% | -0.17% |