All research in Nuclear Fuel & Power — 1 reports.
Cameco is the largest uranium producer in the Western world, with roughly 18% global share, and owns a strategic 49% stake in Westinghouse, the leading U.S. nuclear equipment company. The core thesis is a full nuclear-fuel-cycle position spanning upstream uranium mining, midstream conversion, and downstream reactor OEM exposure, supported by FY2024 revenue of CAD 3.14 billion, adjusted EBITDA of CAD 1.395 billion, and Q1 2026 net income growth of 87%. Report rating Watch: a high-quality nuclear-cycle asset, but the current price already embeds optimistic assumptions for uranium, Westinghouse, and SMR optionality.
