LEUCentrus Energy Corp.
Is the business good?
More warning than reassurance: margins compressing and returns that lean on debt.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
Leverage-amplified, a high assets-to-equity ratio does much of the work. ROE 14% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is LEU?
Centrus Energy Corp. earns 3.8% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 5.2 points below what the capital costs: growth destroys value
- Operating margin
- 1.6%
Operating margin · Uranium median −155% · 12 months to Q2 2026
- Share count, year on year
- +21%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 8.5%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 21% |
| FY2021 | 23% |
| FY2022 | 20% |
| FY2023 | 16% |
| FY2024 | 11% |
| FY2025 | 11% |
Details›
- Gross margin12 months to Q2 2026
- 24%
- Operating margin12 months to Q2 2026
- 1.6%
- Net margin12 months to Q2 2026
- 10%
- Free cash flow margin
- −35%
- R&D as % of revenue
- 8.5%
- Revenue, trailing twelve months
- $474M
- Free cash flow, trailing twelve months
- −$164M
- Net income, trailing twelve months
- $49M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 3.8%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from LEU and who it buys from, as the companies report it.
- 1st customer over 10%16%
Share of revenue · FY2025 10-K
- 2nd customer over 10%15%
Share of revenue · FY2025 10-K
- 3rd customer over 10%13%
Share of revenue · FY2025 10-K
- 4th customer over 10%11%
Share of revenue · FY2025 10-K
- Ten largest customers77%
Combined share of revenue · FY2025 10-K
- Two largest customers31%
Combined share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; LEU’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.