Germany 10 year Bund yields are near multi year highs as the European Central Bank keeps a firm focus on inflation and energy price risks. Higher long term borrowing costs keep attention on power sources that can provide steady output. Nuclear energy stocks sit directly in that conversation. This article highlights three stocks from the Nuclear Energy Stocks screener that show how investors are approaching this theme today.

The three nuclear energy stocks below are just a starting sample, and the full screen surfaced 32 more companies with equally detailed stories that are not covered here. To identify and analyze the nuclear opportunities that best fit your approach, head straight to the Nuclear Energy Stocks screener.

NuScale Power (SMR)

NuScale Power is a pure-play small modular reactor company built around its NuScale Power Module, a certified light water reactor design that generates 77 MWe and is sold with bundled licensing, construction, operation, and maintenance services for nuclear plants. The company currently reports about US$11 million of revenue from electric utility related services and has a market cap of roughly US$4 billion, which reflects investor focus on its potential role in future nuclear generation rather than its small current sales base.

For investors tracking nuclear energy, NuScale Power offers rare exposure to NRC-certified SMR technology with potential applications for utilities, data centers, and industrial heat, backed by about US$1.9b in liquidity to support early deployments. The story is not without real risks, including continued losses, equity dilution, and heavy dependence on securing large power purchase agreements such as the TVA and Romania RoPower projects. If those contracts move from discussion to binding commitments, the current pre-revenue status and modest P/B ratio could look very different. However, the path from promising projects to durable earnings is where the real debate begins.

NuScale Power’s 77 MWe SMR story and roughly US$1.9b liquidity raise important questions about how quickly those megawatts can translate into durable earnings. Before assumptions harden, scan the 1 key reward and 3 important warning signs (1 is major!)

Constellation Energy (CEG)

Constellation Energy runs one of the largest nuclear power fleets in the United States, supplying round the clock carbon free electricity alongside wind, solar, gas, and hydro generation. The company generated about US$31.3b from its Generation segment, which captures its nuclear output as well as other power sources, and serves utilities, municipalities, businesses, and households across regions such as the Mid Atlantic and Midwest. With a market cap near US$96.7b, Constellation Energy is a large scale player in the Nuclear Energy Stocks screener theme, grounded in operating reactors that already feed reliable nuclear power into the grid.

Investors watching the nuclear theme may pay attention to Constellation Energy because this is a company already selling large volumes of carbon free power, not just planning future reactors. Its nuclear fleet underpins long duration contracts with customers such as data centers and large corporates, which can support steadier cash flows, while federal support for nuclear production credits and plant restarts adds another layer to the story. The flip side is that a capital intensive, regulated nuclear portfolio brings higher decommissioning, compliance, and funding demands, especially when cash flows and debt obligations need to stay in balance. How Constellation manages that trade off between contracted growth and long term nuclear liabilities is a key element of the current investment debate.

Constellation Energy’s massive nuclear fleet and carbon free contracts often grab attention, yet the real story may sit in how its cash flows, debt profile, and long term liabilities fit together. Get the fuller context from the Constellation Energy financial health report

Oklo (OKLO)

Oklo is building small fission power plants called Aurora Powerhouses, designed to supply 15 to 75 megawatts of clean electricity to grid and industrial customers. This makes it a direct play on the nuclear reactor side of the Nuclear Energy Stocks screener theme. The company is also developing nuclear fuel recycling and fabrication to turn used fuel into feedstock for its reactors. Oklo currently does not break out revenue by segment and has minimal reported sales. The market is already valuing the business at about US$7.8b, reflecting investor focus on its potential role in future nuclear generation.

Oklo attracts attention because it aims to keep ownership of its Aurora reactors and sell long term electricity contracts rather than one off equipment, which could eventually support recurring revenue if projects move from agreements to operating plants. The company has cleared an important NRC design criterion milestone and has a cash and securities runway reported at roughly US$2.2b. It is still pre profit with recent net losses and no commercial power plants in service. For investors, the pull between a large US$7.8b valuation, early partnerships with big tech and the reality of regulatory risk, past license setbacks, equity dilution and board turnover is where the real story starts to get interesting, not where it ends.

Oklo’s early tech partnerships and US$2.2b cash runway are only half the story. See how that ambition lines up with real project risk, regulatory hurdles and valuation tension in the analysis report for Oklo

Seeking Fresh Alternatives Beyond Nuclear?

Some of the most interesting stock ideas often move first and get noticed later. Spot fresh momentum before the crowd while it matters, then get in early.

• Track cash rich companies that still look overlooked by screening for a list of solid balance sheet and fundamentals (50 results) curated to highlight businesses with healthier fundamentals.
• Ride potential secular tailwinds in digital assets by reviewing a focused set of 20 cryptocurrency and blockchain stocks that remain under the radar for now.
• Target companies building the next generation of data centers and chips through a tight group of 54 AI infrastructure stocks before interest really starts flying.

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.