Nuclear energy stocks sit at the crossroads of two powerful forces: reliable baseload power and the global push for lower-carbon electricity. While inflation, interest rates and bond yields move markets from Argentina to Japan, the nuclear theme is drawing attention as investors look for clearer long-term stories backed by real assets and established technologies. This Nuclear Energy Stocks screener helps you cut through noise by highlighting companies involved in uranium supply, enrichment and reactor construction or operation. In this article, you will see 3 stocks from the screener to consider for further research.

AtkinsRéalis Group (TSX:ATRL)

Overview: AtkinsRéalis Group is a Montreal based engineering and project management company that works across infrastructure, power, nuclear, transportation, defence and industrial markets, providing consultancy, design, construction management and long term operations and maintenance services worldwide.

Operations: AtkinsRéalis generates most of its revenue from engineering services in the UKI segment at about CA$2.8b, followed by Nuclear at about CA$2.5b, USLA at about CA$2.1b, Canada at about CA$1.5b and AMEA at about CA$1.3b, with a smaller segment adjustment line of about CA$1.2b.

Market Cap: CA$13.2b

Investors watching the nuclear theme may find AtkinsRéalis Group interesting because its nuclear segment sits alongside sizeable engineering businesses in the UK, North America and the Middle East, supported by a record backlog and recent wins such as long term work with EDF’s UK nuclear portfolio and an SMR alliance with First American Nuclear. At the same time, the stock combines a low P/E, a fair value estimate above the current share price and strong recent profit margins, with clear risks around heavy use of external debt, reliance on large nuclear contracts, earnings forecasts that point to pressure ahead and recent insider selling. How these positives and drawbacks fit together is where the real opportunity or disappointment could lie for AtkinsRéalis.

A low P/E, a fair value estimate above the share price, and strong recent margins hint that AtkinsRéalis Group might be priced for less than its full story, but the real twist sits inside the 5 key rewards and 3 important warning signs (2 are major!)

NuScale Power (SMR)

Overview: NuScale Power develops and licenses small modular reactor technology, centered on its 77 MWe NuScale Power Module, to help utilities and industrial customers add flexible nuclear generation and related services such as design, construction support, operations, maintenance and training.

Operations: NuScale currently generates its US$18.7m in revenue from utilities, all from customers in the United States.

Market Cap: US$4.3b

NuScale Power stands out in nuclear energy because it already holds U.S. NRC approval for its small modular reactor design and is tied into projects like the Romania SMR plant and potential deployments with Tennessee Valley Authority, putting it closer to commercial use than many peers. At the same time, the company is still loss making, relies heavily on external funding and has a history of shareholder dilution, so investors are effectively backing the commercialization of its ENTRA1 partnership and long term power purchase agreements before meaningful cash flow arrives. How that trade off between first mover advantage, policy tailwinds and high funding risk plays out is where the real investment debate on NuScale begins.

NuScale Power sits at the intersection of licensed SMR technology and significant funding risk. The full story only really comes into focus when you see the 1 key reward and 3 important warning signs

Constellation Energy (CEG)

Overview: Constellation Energy is a Baltimore based power producer that sells electricity, natural gas and energy solutions across the United States, anchored by a large fleet of nuclear, wind, solar, gas and hydro assets totaling about 31,676 megawatts of capacity serving utilities, businesses and households.

Operations: Constellation Energy generates about US$29.9b in revenue from its Generation segment, with sales spread across regions such as the Mid-Atlantic, Midwest, New York, ERCOT and other power markets.

Market Cap: US$97.9b

Constellation Energy provides direct exposure to the growing demand for reliable, carbon free power, as data centers and large corporates sign long term contracts that support nuclear cash flows and new capacity such as the Crane Clean Energy Center and Calpine assets. Analysts expect earnings and returns on equity to improve, while federal support for nuclear production tax credits and zero emission credits adds visibility to cash generation, even if the stock currently trades above typical utility P/E levels. On the other hand, the company carries meaningful leverage, depends on regulated and centralized nuclear plants, and has customer concentration in a handful of hyperscalers, which could be challenging if regulations or power markets change. The balance of those long dated contracts, risks and valuation assumptions is unpacked in the 4 key rewards and 2 important warning signs

Constellation Energy’s nuclear fleet and long term contracts could be masking a far more interesting risk reward profile than the headline P/E implies. The full picture only really shows up in the 4 key rewards and 2 important warning signs

The three nuclear energy stocks in this article are only a starting point. The full Nuclear Energy Stocks screener surfaces 299 more companies that pair nuclear fuel, enrichment and reactor exposure with equally compelling narratives waiting to be analyzed. Use Simply Wall St to identify and filter for the specific catalysts, risks and long term stories that matter most to you so you can focus on the highest conviction opportunities across the sector.

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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.