CWEN
Clearway Energy, Inc.
CWEN has the edge over SMR overall, supported by stronger fundamentals and lower modeled downside.
SMR
NuScale Power Corporation
SMR offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
CWEN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Strong | |
| Weak |
CWEN's revenue and cash flow are currently healthy, but its profitability and balance sheet are under pressure.
SMR Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Weak | |
| Weak | |
| Unavailable |
SMR's revenue, profitability and cash flow are currently weak. There isn't enough data to rate its balance sheet.
CWEN PE Valuation
CWEN has no meaningful PE right now: it lost money over the past year.
SMR PE Valuation
SMR has no meaningful PE right now: it lost money over the past year.
CWEN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong decline | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect CWEN's revenue to grow, but its earnings and profitability to decline. However, they disagree widely on these estimates.
SMR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect SMR's losses to shrink, with revenue growing.
CWEN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.29 | — |
| Q3 2026 | -$0.70 | -130% |
| Q2 2026 | $0.88 | +35% |
| Q1 2026 | $0.16 | -80% |
| Q4 2025 | $1.54 | +105% |
| Q3 2025 | $2.34 | +127% |
| Q2 2025 | $0.65 | -13% |
| Q1 2025 | $0.80 | +23% |
| Q4 2024 | $0.75 | +12% |
CWEN has the edge over SMR on earnings, with more consistent year-over-year improvement.
SMR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.72 | +$2.14 |
| Q2 2026 | -$2.46 | -$1.27 |
| Q1 2026 | -$2.46 | -$1.09 |
| Q4 2025 | -$2.43 | -$0.96 |
| Q3 2025 | -$2.86 | -$1.91 |
| Q2 2025 | -$1.19 | -$0.16 |
| Q1 2025 | -$1.37 | -$0.52 |
| Q4 2024 | -$1.47 | -$0.67 |
SMR is still losing money, but far less than before: $0.72 per share over the past year, against $2.86 at its worst in late 2025.
CWEN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $522M | +22% |
| Q2 2026 | $481M | +23% |
| Q1 2026 | $354M | +19% |
| Q4 2025 | $310M | +21% |
| Q3 2025 | $429M | -12% |
| Q2 2025 | $392M | +7.1% |
| Q1 2025 | $298M | +13% |
| Q4 2024 | $256M | +2.8% |
CWEN's revenue has grown year over year for four quarters in a row: $522M last quarter, up 22% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 26% | -0.3 points |
| Q2 2026 | 24% | +2.4 points |
| Q1 2026 | 5.7% | +5.7 points |
| Q4 2025 | -12% | +2.5 points |
| Q3 2025 | 26% | -11 points |
| Q2 2025 | 22% | -1.3 points |
| Q1 2025 | 0% | +11 points |
| Q4 2024 | -14% | -5.6 points |
CWEN has the edge over SMR on profitability, with a higher operating margin.
SMR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $281K | -97% |
| Q2 2026 | $75K | -99% |
| Q1 2026 | $565K | -96% |
| Q4 2025 | $1.8M | -95% |
| Q3 2025 | $8.2M | +1635% |
| Q2 2025 | $8.1M | +733% |
| Q1 2025 | $13.4M | +870% |
| Q4 2024 | $34.2M | +651% |
SMR's revenue has slid since its 2024 peak: $281,000 last quarter, down 97% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -23068% | -16535 points |
| Q2 2026 | -85337% | -84802 points |
| Q1 2026 | -10181% | -9917 points |
| Q4 2025 | -4022% | -3988 points |
| Q3 2025 | -6533% | +2103 points |
| Q2 2025 | -535% | +3796 points |
| Q1 2025 | -264% | +2925 points |
| Q4 2024 | -35% | +1524 points |
SMR's operating margin was −23068% last quarter, down 16535 points from the same quarter a year ago, near the bottom of its range since 2022.
CWEN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $76M | -47% |
| Q2 2026 | $130M | +13% |
| Q1 2026 | $326M | +736% |
| Q4 2025 | $71M | -50% |
| Q3 2025 | $144M | -46% |
| Q2 2025 | $115M | +25% |
| Q1 2025 | $39M | +$56M |
| Q4 2024 | $142M | +3.6% |
CWEN has the stronger cash trend. Its trailing FCF is up 15% versus its history, compared with SMR at down 161%.
SMR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$58.6M | -$25.3M |
| Q1 2026 | -$316.2M | -$293.3M |
| Q4 2025 | -$204.1M | -$177.6M |
| Q2 2025 | -$33.3M | +$2.7M |
| Q1 2025 | -$22.9M | +$10.6M |
| Q4 2024 | -$26.5M | +$46.8M |
| Q3 2024 | -$12.7M | +$15M |
| Q2 2024 | -$36M | +$4.5M |
SMR has burned cash in almost every quarter: −$608M over the past year, against −$95M the year before.
CWEN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +6.9K shares |
| 1 year | +1.5% | +3.1M shares |
| 3 years | +1.7% | +3.4M shares |
| 5 years | +1.9% | +3.8M shares |
CWEN has the edge over SMR on shareholder dilution, with a more favorable share count trend.
SMR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +45.9M shares |
| 1 year | +178% | +263M shares |
| 3 years | +448% | +336M shares |
SMR has 410M diluted shares, up 178% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
CWEN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 9.2x | High |
| Q2 2026 | 9.3x | High |
| Q1 2026 | 10.0x | High |
| Q4 2025 | 9.6x | High |
| Q3 2025 | 10.0x | High |
| Q2 2025 | 9.7x | High |
| Q1 2025 | 8.5x | High |
| Q4 2024 | 8.0x | High |
CWEN's net debt is about 9.2 years of its operating earnings (EBITDA), down from 10 years a year ago.
SMR Net Leverage
SMR's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
CWEN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.1 | Neutral |
| Stochastic | 64.8 | Neutral |
CWEN's weekly RSI is 51 (neutral) and its Stochastic is 65 (neutral).
SMR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.5 | Oversold |
| Stochastic | 8.6 | Oversold |
SMR's weekly RSI is 30 (oversold) and its Stochastic is 9 (oversold).
CWEN PE vs Utilities Sector
| Metric | CWEN | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 20x | 90% above |
| PE % | 47 | 44 | 3 pts above |
CWEN has no meaningful PE right now: it lost money over the past year.
SMR PE vs Utilities Sector
SMR has no meaningful PE right now: it lost money over the past year.
CWEN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.2 | 6.9% above |
| 20 week MA | $31.9 | 4.6% above |
| 50 week MA | $35.2 | 5.2% below |
| 100 week MA | $32.5 | 2.6% above |
| 200 week MA | $29.7 | 13% above |
CWEN has the edge over SMR on trend strength, trading above more of its moving averages.
SMR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.26 | 23% below |
| 20 week MA | $7.88 | 39% below |
| 50 week MA | $11.4 | 58% below |
| 100 week MA | $20.2 | 76% below |
| 200 week MA | $14.4 | 67% below |
SMR is in a downtrend: it's below all five of its weekly moving averages, and 67% below its 200-week average.
CWEN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $20.0 | $32.7 | +63% |
| 2021 | $32.7 | $35.8 | +9.6% |
| 2022 | $35.8 | $32.0 | -11% |
| 2023 | $32.0 | $27.4 | -14% |
| 2024 | $27.4 | $26.1 | -4.7% |
| 2025 | $26.1 | $33.2 | +27% |
| 2026 YTD | $33.2 | $33.4 | +0.6% |
CWEN has the edge over SMR on returns for 2026, with the stronger performance.
SMR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.1 | $10.3 | +1.2% |
| 2021 | $10.3 | $10.1 | -1.9% |
| 2022 | $10.1 | $10.1 | +0.5% |
| 2023 | $10.1 | $3.29 | -67% |
| 2024 | $3.29 | $19.5 | +493% |
| 2025 | $19.5 | $14.9 | -24% |
| 2026 YTD | $14.9 | $4.82 | -68% |
SMR's yearly returns have swung widely, from +493% in 2024 to −67% in 2023. It's down 68% so far in 2026.