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NXE

NexGen Energy Ltd.

NXE

NexGen Energy Ltd. • NYSE
$8.96 ▲ 3.94% (+0.34)
Market Cap $5.86 B
52w High $9.95
52w Low $3.91
Dividend Yield 0%
P/E -21.33
Volume 9.11M
Outstanding Shares 654.56M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $21.428M ▲ $-129.22M ▼ 0% $-0.23 ▼ $-115.093M ▼
Q2-2025 $0 $14.948M ▼ $-86.693M ▼ 0% $-0.15 ▼ $-72.131M ▼
Q1-2025 $0 $16.257M ▼ $-50.935M ▲ 0% $-0.089 ▲ $-28.095M ▲
Q4-2024 $0 $24.416M ▲ $-66.387M ▼ 0% $-0.12 ▼ $-55.014M ▼
Q3-2024 $0 $18.712M $10.252M 0% $0.02 $21.641M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $371.556M ▼ $1.546B ▼ $520.339M ▲ $1.026B ▼
Q1-2025 $434.64M ▼ $1.567B ▼ $463.559M ▼ $1.103B ▼
Q4-2024 $476.587M ▼ $1.657B ▼ $478.202M ▲ $1.179B ▼
Q3-2024 $537.766M ▼ $1.684B ▲ $468.84M ▼ $1.215B ▲
Q2-2024 $572.363M $1.679B $486.614M $1.193B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-129.22M ▼ $-10.437M ▲ $-66.106M ▼ $10.28M ▲ $-65.571M ▼ $-76.543M ▼
Q2-2025 $-86.693M ▼ $-10.927M ▼ $-37.906M ▼ $-11.792M ▼ $-63.084M ▼ $-36.833M ▼
Q1-2025 $-50.935M ▲ $-1.143M ▲ $-34.317M ▲ $-6.537M ▲ $-41.947M ▲ $-29.21M ▲
Q4-2024 $-66.387M ▼ $-9.528M ▼ $-37.963M ▼ $-9.662M ▼ $-61.179M ▼ $-137.937M ▼
Q3-2024 $10.252M $-2.836M $-32.028M $1.058M $-34.597M $-3.365M

Five-Year Company Overview

Income Statement

Income Statement NexGen is still a development-stage uranium company, so it has not yet generated revenue from operations. The income statement is driven mainly by exploration, development, and corporate costs, which show up as steady operating losses each year. Losses have been relatively controlled and predictable, without large swings, which fits a disciplined build-out rather than a distressed situation. The one recent year of positive net income looks more like a one-off accounting or financing gain than a sign of a profitable operating business. Overall, the income statement tells the story of a pre-production miner steadily investing, not yet earning.

Balance Sheet

Balance Sheet The balance sheet has grown significantly over the last five years, reflecting the build-out of the Rook I project and related assets. Total assets and shareholders’ equity have climbed as the company has raised capital and invested in its flagship project. Cash levels have moved higher over time, giving NexGen more room to fund development. Debt has also increased but remains paired with a larger equity base, suggesting a capital structure that still leans more toward equity than heavy leverage. In plain terms, the company looks asset-rich for its stage, with a balance sheet clearly oriented toward future production rather than current earnings.

Cash Flow

Cash Flow Cash flows show exactly what you would expect from a company building a major mine: money is going out, not coming in. Operating cash flow is consistently negative, reflecting ongoing corporate, exploration, and development spending. Free cash flow is more deeply negative, particularly in the most recent years, as capital spending on the project has ramped up. This pattern indicates growing commitment to construction and development. The key implication is that NexGen remains dependent on external funding (equity, debt, or partnerships) until the project reaches production and begins to generate its own cash.

Competitive Edge

Competitive Edge NexGen’s competitive position is built around one core fact: it controls one of the highest-grade, largest undeveloped uranium deposits in the world in a politically stable part of Canada. The geology allows for simpler, lower-cost underground mining than many peers, which could position the project at the low end of the global uranium cost curve once in production. On top of that, the company has leaned heavily into environmental and social practices, including tight engagement with local Indigenous communities and an innovative approach to waste management, which together strengthen its “social license” to operate. The flip side is concentration risk: NexGen is heavily tied to a single flagship asset and to the long-term health of the uranium market, so its fortunes are less diversified than larger, multi-mine producers.

Innovation and R&D

Innovation and R&D NexGen is not inventing brand-new mining technologies, but it is applying proven tools in smart ways. The big innovation is its plan to store processed waste underground as backfill, sharply reducing the need for large surface tailings facilities and improving environmental risk management. It also uses advanced imaging and exploration techniques, like muon tomography, to better map ore bodies and guide drilling, which can cut both cost and time. Much of NexGen’s “R&D” edge comes from integrating engineering, environmental design, and community partnership into a cohesive project plan. The opportunity is to set a new standard for how uranium mines are designed and permitted; the risk is that these innovations must work as intended at full scale and under regulatory scrutiny.

Summary

NexGen is a classic pre-production resource story: no operating revenue yet, controlled but persistent losses, and a balance sheet increasingly packed with assets tied to a single world-class uranium project. Cash is being consumed to move that project toward construction and, eventually, production, so external funding will remain important until first output. Competitively, the company stands out for the quality of its deposit, its expected low-cost profile, and its strong environmental and community positioning, all in a stable jurisdiction. The main uncertainties center on project execution, capital needs, timelines, and long-term uranium prices. If NexGen can successfully convert its geological and ESG advantages into a functioning, on-budget mine, the current financial profile could transition from cash-burning developer to cash-generating producer over the coming years, but that path still carries the usual development and commodity-cycle risks.

NEWS

November 19, 2025 · 11:00 AM UTC

Canadian Nuclear Safety Commission ("CNSC") Hearing for the Approval of the Rook I Project

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November 12, 2025 · 6:30 AM UTC

NexGen Announces New Significant High Grade Assay Results at Patterson Corridor East

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October 30, 2025 · 6:30 AM UTC

NexGen Energy to Host Q3 2025 Conference Call

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October 16, 2025 · 6:30 AM UTC

NexGen Energy Ltd. Closes A$1 Billion (C$950 Million) Global Equity Offering

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October 2, 2025 · 8:40 AM UTC

NexGen Announces Upsized AUD $600 Million Equity Offering in Australia

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