SMR
NuScale Power Corporation
SMR offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
SRE
Sempra
SRE has the edge over SMR overall, supported by lower modeled downside and stronger fundamentals.
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.
SRE Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Weak | |
| Weak |
SRE's revenue and profitability are currently healthy, but its cash flow and balance sheet are weak.
SMR PE Valuation
SMR has no meaningful PE right now: it lost money over the past year.
SRE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $69.90 | -11% |
| Forward | 15x | $78.98 | — |
| Current | 17x | $78.98 | — |
| Fair | 19x | $86.51 | +9.5% |
| Expensive | 32x | $151 | +91% |
Historical ranges are pointers, not guarantees.
SRE's PE is 17x, but its earnings don't support one, so it isn't a reliable read right now.
SMR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect SMR's losses to shrink, with revenue growing.
SRE Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Stable | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect SRE's profitability to improve, with its earnings and revenue holding steady.
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.
SRE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.13 | +10% |
| Q3 2026 | $4.66 | +43% |
| Q2 2026 | $3.44 | -17% |
| Q1 2026 | $2.94 | -35% |
| Q4 2025 | $2.75 | -38% |
| Q3 2025 | $3.26 | -28% |
| Q2 2025 | $4.14 | -12% |
| Q1 2025 | $4.55 | +0.7% |
| Q4 2024 | $4.42 | -7.7% |
SRE has the edge over SMR on earnings quality, reporting a profit while its opponent remains loss making.
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 has the edge over SRE on sales, with stronger typical year-over-year growth.
| 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.
SRE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3B | +9.9% |
| Q2 2026 | $3B | +11% |
| Q1 2026 | $3.4B | -6.9% |
| Q4 2025 | $3.3B | -13% |
| Q3 2025 | $2.8B | -0.7% |
| Q2 2025 | $2.7B | -10% |
| Q1 2025 | $3.7B | +1.1% |
| Q4 2024 | $3.8B | +7.6% |
SRE's revenue is recovering but still below its 2023 peak: $3B last quarter, up 9.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +9.3 points |
| Q2 2026 | 17% | -0.4 points |
| Q1 2026 | 29% | +7.5 points |
| Q4 2025 | 7.2% | -21 points |
| Q3 2025 | 11% | -1.3 points |
| Q2 2025 | 17% | +1.8 points |
| Q1 2025 | 22% | -1.5 points |
| Q4 2024 | 29% | +9.5 points |
SRE has the edge over SMR on profitability, with a higher operating margin.
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 |
SRE has the stronger cash trend. Its trailing FCF is down 55% versus its history, compared with SMR at down 161%.
SRE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.1B | +$374M |
| Q2 2026 | -$918M | +$602M |
| Q1 2026 | -$652M | +$202M |
| Q4 2025 | -$2.2B | -$1.1B |
| Q3 2025 | -$1.5B | -$538M |
| Q2 2025 | -$1.5B | -$292M |
| Q1 2025 | -$854M | -$772M |
| Q4 2024 | -$1.1B | +$149M |
SRE has burned cash in almost every quarter: −$4.9B over the past year, against −$4.9B the year before.
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 | — |
SRE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -6K shares |
| 1 year | +0.3% | +1.9M shares |
| 3 years | +3.7% | +23.6M shares |
| 5 years | +2.8% | +17.7M shares |
| Available history | +14% | +78.3M shares |
SRE has the edge over SMR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $1M |
| Q1 2026 | $20M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $1M |
| Q1 2025 | $57M |
| Q4 2024 | $2M |
SRE has spent almost nothing on buybacks in the past year.
SMR Net Leverage
SMR's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
SRE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 7.8x | High |
| Q2 2026 | 8.1x | High |
| Q1 2026 | 7.9x | High |
| Q4 2025 | 8.0x | High |
| Q3 2025 | 6.3x | High |
| Q2 2025 | 7.4x | High |
| Q1 2025 | 7.0x | High |
| Q4 2024 | 6.7x | High |
SRE's net debt is about 7.8 years of its operating earnings (EBITDA), up from 6.3 years a year ago.
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).
SRE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.9 | Neutral |
| Stochastic | 32.2 | Neutral |
SRE's weekly RSI is 40 (neutral) and its Stochastic is 32 (neutral).
SMR PE vs Utilities Sector
SMR has no meaningful PE right now: it lost money over the past year.
SRE PE vs Utilities Sector
| Metric | SRE | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 20x | 17% below |
| PE % | 29 | 44 | 15 pts below |
SRE is trading at 17x earnings, a 17% discount to the Utilities sector's median of 20x, though its earnings don't support one.
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.
SRE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $81.0 | 2.5% below |
| 20 week MA | $84.8 | 6.8% below |
| 50 week MA | $89.1 | 11% below |
| 100 week MA | $85.0 | 7.1% below |
| 200 week MA | $80.5 | 1.8% below |
SRE is in a downtrend: it's below all five of its weekly moving averages, and 1.8% below its 200-week average.
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.
SRE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $75.4 | $63.0 | -17% |
| 2021 | $63.0 | $64.7 | +2.8% |
| 2022 | $64.7 | $78.9 | +22% |
| 2023 | $78.9 | $74.7 | -5.3% |
| 2024 | $74.7 | $87.8 | +17% |
| 2025 | $87.8 | $88.6 | +1% |
| 2026 YTD | $88.6 | $79.0 | -11% |
SRE has the edge over SMR on returns for 2026, with the stronger performance.