FLNC
Fluence Energy, Inc.
FLNC has the edge over SMR overall, supported by stronger fundamentals and stronger modeled upside.
SMR
NuScale Power Corporation
SMR has lower modeled downside risk, despite its lower overall score.
FLNC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Under pressure | |
| Strong |
FLNC's balance sheet is currently strong, and its revenue is stable, but its profitability and cash flow 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.
FLNC PE Valuation
FLNC 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.
FLNC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect FLNC's losses to shrink, with revenue growing. 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.
FLNC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.56 | -$0.35 |
| Q1 2026 | -$0.31 | -$0.09 |
| Q4 2025 | -$0.39 | -$0.34 |
| Q3 2025 | -$0.37 | -385% |
| Q2 2025 | -$0.21 | -$0.02 |
| Q1 2025 | -$0.22 | +$0.17 |
| Q4 2024 | -$0.05 | +$0.48 |
| Q3 2024 | $0.13 | +$0.73 |
FLNC 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.
FLNC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $649.8M | +7.9% |
| Q1 2026 | $464.9M | +7.7% |
| Q4 2025 | $475.2M | +154% |
| Q3 2025 | $1B | -15% |
| Q2 2025 | $602.5M | +25% |
| Q1 2025 | $431.6M | -31% |
| Q4 2024 | $186.8M | -49% |
| Q3 2024 | $1.2B | +82% |
FLNC's revenue is recovering but still below its 2024 peak: $650M last quarter, up 7.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -6.7% | -8.6 points |
| Q1 2026 | -6% | +4.2 points |
| Q4 2025 | -15% | +17 points |
| Q3 2025 | 4.4% | -1.7 points |
| Q2 2025 | 1.9% | +0.8 points |
| Q1 2025 | -10% | -7.8 points |
| Q4 2024 | -31% | -24 points |
| Q3 2024 | 6.2% | +4.5 points |
FLNC 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.
FLNC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$20M | +$137.4M |
| Q1 2026 | -$123.6M | -$73.1M |
| Q4 2025 | -$232.6M | -$19.3M |
| Q3 2025 | $260.9M | +3497% |
| Q2 2025 | -$157.4M | -$134M |
| Q1 2025 | -$50.5M | -172% |
| Q4 2024 | -$213.3M | -1292% |
| Q3 2024 | $7.3M | -85% |
FLNC has the stronger cash trend. Its trailing FCF is up 38% 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.
FLNC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +4.2% | +5.6M shares |
| 1 year | +6.3% | +8.1M shares |
| 3 years | +19% | +21.9M shares |
| 5 years | +179% | +88.6M shares |
FLNC has the edge over SMR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2024 | $88,000 |
| Q4 2023 | — |
| Q3 2023 | $1.2M |
| Q2 2023 | $1.3M |
| Q1 2023 | — |
| Q4 2022 | $288,000 |
| Q3 2022 | $22,000 |
| Q4 2021 | — |
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 | — |
FLNC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2024 | -9.8x | Net Cash |
| Q3 2024 | -8.0x | Net Cash |
FLNC has more cash than debt.
SMR Net Leverage
SMR's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
FLNC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.0 | Oversold |
| Stochastic | 2.5 | Oversold |
FLNC's weekly RSI is 29 (oversold) and its Stochastic is 2 (oversold).
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).
FLNC PE vs Utilities Sector
FLNC 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.
FLNC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.25 | 24% below |
| 20 week MA | $10.0 | 53% below |
| 50 week MA | $15.8 | 70% below |
| 100 week MA | $12.8 | 63% below |
| 200 week MA | $16.7 | 72% below |
FLNC is in a downtrend: it's below all five of its weekly moving averages, and 72% below its 200-week average.
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.
FLNC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $35.6 | $35.4 | -0.6% |
| 2022 | $35.4 | $17.1 | -52% |
| 2023 | $17.1 | $23.9 | +40% |
| 2024 | $23.9 | $16.2 | -32% |
| 2025 | $16.2 | $20.2 | +24% |
| 2026 YTD | $20.2 | $4.74 | -77% |
FLNC has finished lower in three of the last five years. It's down 77% so far in 2026.
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 has the edge over FLNC on returns for 2026, with the stronger performance.