# Cameco Corporation (CCO.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Basic Materials / Metals & Mining. Price C$139.44, market value C$60.7 billion.

## Valuation
- **P/E (trailing): 172.1×** (5-yr avg 122.4×, 3-yr avg 116.9×). Cameco Corporation trades at 172.1× trailing earnings, well above its own five-year average of 122.4×: investors are paying up relative to the company's past. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 53.3×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.22**. A PEG of 0.22 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 17.5×**. Each dollar of revenue is priced at 17.5×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 8.5×**. The shares trade at 8.5× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 73.3×**. Enterprise value is 73.3× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 0.9%** (5-yr avg 1.9%). Free cash flow equals 0.9% of the market value, below its five-year average of 1.9%, so the shares are pricier on cash than usual.
- **Earnings yield: 0.6%**. The inverse of the P/E: 0.6% of the price is earned each year.

## Profitability
- **Gross margin: 28.1%**. Cameco Corporation keeps 28.1% of revenue after the direct cost of what it sells.
- **Operating margin: 14.0%**. 14.0% of revenue is left after running the business.
- **Net margin: 16.9%**. 16.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 8.5%**. 8.5% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 5.4%**. Return on all capital, debt included, is 5.4%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 3.4%**. Each dollar of assets produces 3.4% of profit.

## Growth
- **Revenue growth (1 yr): 11.0%** (3-yr 23.1%/yr, 5-yr 14.1%/yr). Revenue grew 11.0% over the last year, against 14.1% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 246.2%** (3-yr 83.1%/yr). Earnings per share rose 246.2%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 103.0%/yr**. Free cash flow has compounded at 103.0% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.15**. Debt is 0.15 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Cameco Corporation holds more cash than debt.
- **Interest coverage: 8.8×**. Operating profit covers interest 8.8× over, a safe margin.
- **Current ratio: 2.47** (quick 1.68). Current assets cover the next year's liabilities 2.47 times.
- **Altman Z-score: 12.37**. A Z-score of 12.37 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 0.17%** (C$0.24 per share, trailing). Cameco Corporation yields 0.17%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 18%**. 18% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 7**. 7 straight years of increases.
- **Dividend growth (5 yr): 24.6%/yr** (1-yr 50.0%). The dividend has compounded at 24.6% a year over five years, doubling roughly every 3 years at that pace.

## Analyst view
- **Analyst consensus: buy** (15 analysts). 15 analysts cover Cameco Corporation; the consensus is buy, with an average price target of C$179.73 (+29% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 32.4%** (YTD 10.9%, 3-mo -3.2%). The shares are up 32.4% over twelve months including dividends.
- **From 52-week high: -23.7%** (30.9% above the low). Trading 24% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 53**. An RSI of 53 is neutral.
- **Beta (1 yr): 2.43** (volatility 56%). Beta of 2.43 against the S&P/TSX Composite: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CCO.TO · Page: https://foliofundamentals.com/stocks/cco.to

Not investment advice.