SMR
NuScale Power Corporation
SMR offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
WTRG
Essential Utilities, Inc.
WTRG has the edge over SMR overall, supported by stronger fundamentals and lower modeled downside.
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.
WTRG Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Weak |
WTRG's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is weak.
SMR PE Valuation
SMR has no meaningful PE right now: it lost money over the past year.
WTRG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $35.68 | -20% |
| Forward | 19x | $44.65 | — |
| Current | 23x | $44.65 | — |
| Fair | 24x | $46.87 | +5% |
| Expensive | 37x | $73.38 | +64% |
Historical ranges are pointers, not guarantees.
WTRG's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 19x next year's earnings, in its cheap range.
SMR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect SMR's losses to shrink, with revenue growing.
WTRG Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for WTRG, but weaker profitability.
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.
WTRG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.29 | +16% |
| Q3 2026 | $1.98 | -18% |
| Q2 2026 | $1.95 | -16% |
| Q1 2026 | $1.96 | -12% |
| Q4 2025 | $2.20 | +1.4% |
| Q3 2025 | $2.41 | +21% |
| Q2 2025 | $2.33 | +14% |
| Q1 2025 | $2.23 | +5.7% |
| Q4 2024 | $2.17 | +17% |
WTRG 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'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.
WTRG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $508.3M | +6.6% |
| Q2 2026 | $530.9M | +3.1% |
| Q1 2026 | $861.8M | +10% |
| Q4 2025 | $699.1M | +16% |
| Q3 2025 | $477M | +9.6% |
| Q2 2025 | $514.9M | +19% |
| Q1 2025 | $783.6M | +28% |
| Q4 2024 | $604.4M | +26% |
WTRG's revenue has grown year over year for nine quarters in a row: $508M last quarter, up 6.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 38% | +2.3 points |
| Q2 2026 | 36% | +0.4 points |
| Q1 2026 | 36% | -7.2 points |
| Q4 2025 | 32% | -5 points |
| Q3 2025 | 36% | 0 points |
| Q2 2025 | 36% | +2.5 points |
| Q1 2025 | 43% | +5.6 points |
| Q4 2024 | 38% | +1.2 points |
WTRG 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 |
WTRG has the stronger cash trend. Its trailing FCF is up 33% versus its history, compared with SMR at down 161%.
WTRG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $229.2M | -1.4% |
| Q2 2026 | $323.6M | +19% |
| Q1 2026 | $265.4M | -11% |
| Q4 2025 | $206.1M | +39% |
| Q3 2025 | $232.5M | +19% |
| Q2 2025 | $272.3M | +47% |
| Q1 2025 | $299.5M | +24% |
| Q4 2024 | $147.8M | +15% |
WTRG's free cash flow has been positive every quarter for six years: $1B over the past year, up 7.6% from 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 | — |
WTRG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +933K shares |
| 1 year | +1% | +2.7M shares |
| 3 years | +6.7% | +17.8M shares |
| 5 years | +9.9% | +25.6M shares |
| Available history | +32% | +69.1M shares |
WTRG has the edge over SMR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1,000 |
| Q2 2026 | $20,000 |
| Q1 2026 | $2.9M |
| Q4 2025 | $9,000 |
| Q3 2025 | $38,000 |
| Q2 2025 | $3,000 |
| Q1 2025 | $2.2M |
| Q4 2024 | $1.8M |
WTRG 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.
WTRG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.2x | High |
| Q2 2026 | 6.3x | High |
| Q1 2026 | 6.3x | High |
| Q4 2025 | 6.1x | High |
| Q3 2025 | 5.9x | High |
| Q2 2025 | 6.0x | High |
| Q1 2025 | 6.1x | High |
| Q4 2024 | 6.7x | High |
WTRG's net debt is about 6.2 years of its operating earnings (EBITDA), up from 5.9 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).
WTRG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 66.9 | Neutral |
| Stochastic | 86.1 | Overbought |
WTRG's weekly RSI is 67 (neutral) and its Stochastic is 86 (overbought).
SMR PE vs Utilities Sector
SMR has no meaningful PE right now: it lost money over the past year.
WTRG PE vs Utilities Sector
| Metric | WTRG | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 20x | 10% above |
| PE % | 47 | 44 | 3 pts above |
WTRG is trading at 23x earnings, a 10% premium to the Utilities sector's median of 20x.
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.
WTRG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $41.9 | 6.5% above |
| 20 week MA | $40.9 | 9.2% above |
| 50 week MA | $39.6 | 13% above |
| 100 week MA | $39.0 | 15% above |
| 200 week MA | $38.9 | 15% above |
WTRG has the edge over SMR on trend strength, trading above more of its moving averages.
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.
WTRG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $46.7 | $45.5 | -2.7% |
| 2021 | $45.5 | $52.2 | +15% |
| 2022 | $52.2 | $47.6 | -8.9% |
| 2023 | $47.6 | $37.4 | -21% |
| 2024 | $37.4 | $36.5 | -2.4% |
| 2025 | $36.5 | $38.6 | +5.8% |
| 2026 YTD | $38.6 | $44.7 | +16% |
WTRG has the edge over SMR on returns for 2026, with the stronger performance.