# Ur-Energy Inc. (URE.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Basic Materials / Metals & Mining. Price C$1.93, market value C$768 million.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Ur-Energy Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 15.9×**. Each dollar of revenue is priced at 15.9×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 8.1×**. The shares trade at 8.1× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: -18.7%** (5-yr avg -7.8%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: -90.0%**. Ur-Energy Inc. keeps -90.0% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: -218.2%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -275.3%**. The company reported a net loss over the last twelve months.
- **Return on equity: -96.7%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -277.1%**. Return on all capital, debt included, is -277.1%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -32.5%**. Each dollar of assets produces -32.5% of profit.

## Growth
- **Revenue growth (1 yr): -19.3%** (3-yr 1027.1%/yr, 5-yr 26.8%/yr). Revenue fell 19.3% over the last year, against 26.8% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -17.6%**. Earnings per share fell 17.6%, roughly in step with revenue.

## Financial health
- **Debt to equity: 0.88**. Debt is 0.88 times equity, moderate leverage.
- **Net debt / EBITDA: 0.8×**. It would take 0.8 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: -10.8×**. Operating profit covers interest only -10.8×: fragile.
- **Current ratio: 5.44** (quick 4.56). Current assets cover the next year's liabilities 5.44 times.
- **Altman Z-score: 2.56**. A Z-score of 2.56 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 1/9**. 1 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Ur-Energy Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -9.4%** (YTD 2.7%, 3-mo -15.4%). The shares are down 9.4% over twelve months including dividends.
- **From 52-week high: -41.5%** (21.4% above the low). Trading 42% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 50**. An RSI of 50 is neutral.
- **Beta (1 yr): 2.62** (volatility 70%). Beta of 2.62 against the S&P/TSX Composite: the shares move much more than the market.

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

Not investment advice.