Centrus Energy (LEU) FY2025 results: revenue $449 million, up 1.5% on the year
Centrus Energy Corp. (LEU) reported revenue of $449 million for fiscal 2025, the year ended 31 December 2025, up 1.5% on the year before. Net income was $78 million, up 6.3%, and diluted earnings per share $3.90. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2026.
Revenue
$449 million
+1.5% on the year
FY2018FY2025
Operating margin
11.2%
10.9% a year earlier
FY2018FY2025
Net income
$78 million
+6.3% on the year
FY2018FY2025
Diluted EPS
$3.90
-12.8% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 4 new.
Full-year revenue and gross profit rose: Total revenue was $448.7 million for 2025 against $442.0 million in 2024. Gross profit was $117.5 million against $111.5 million.
Net income rose, diluted EPS fell: Full-year net income was $77.8 million against $73.2 million. Basic EPS was $4.33 against $4.49; diluted EPS was $3.90 against $4.47.
LEU gross profit rose on SWU mix: LEU gross profit was $111.5 million against $93.9 million, up 19%. The company attributed the increase to higher SWU volume and SWU margin from contract and pricing mix.
Total backlog $3.8 billion to 2040: Total backlog was $3.8 billion at December 31, 2025, against $3.9 billion at September 30, 2025. It extends to 2040.
LEU backlog includes contingent sales: LEU segment backlog was about $2.9 billion, against $3.0 billion in September. It includes $2.3 billion of contingent LEU sales, $2.1 billion under definitive agreements and $0.2 billion subject to entering into definitive agreements.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
51.0
37.0
9.1
+37.8%
Capital expenditure
19.7
4.1
1.6
+380.5%
Free cash flow
31.3
32.9
7.5
-4.9%
Free cash flow margin
7.0%
7.4%
2.3%
Cash from investing
-19.7
-4.1
-1.6
Cash from financing
1,225
437
13.9
+180.2%
Depreciation and amortisation
9.9
10.8
7.1
-8.3%
Share-based compensation
5.7
1.5
2.3
+280.0%
Diluted shares, weighted
20m
16m
16m
+21.7%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
765
161
32.3
+374.0%
Debt
1,175
479
95.7
+145.5%
Operating lease liabilities
1.0
1.2
2.6
-16.7%
Other liabilities
505
452
666
+11.7%
Total liabilities and equity
2,446
1,093
796
+123.7%
Fixed assets
29.5
9.4
7.0
+213.8%
Intangible assets
21.2
29.6
39.4
-28.4%
Cash and equivalents
1,957
671
201
+191.5%
Receivables
30.7
80.0
49.4
-61.6%
Inventory
323
162
306
+99.8%
Other assets
84.4
141
193
-40.3%
Total assets
2,446
1,093
796
+123.7%
10-K for the year ended 31 December 2025, filed 11 February 2026: the filing.