X-Energy, Inc. (XE) AI Stock Analysis
XE AI stock analysis summary
AI ResearchX-Energy, Inc. (XE) is a nuclear reactor technology and fuel manufacturing company that went public in 2026. While the business delivered TTM revenue of $150.3M and quarterly revenue growth of 196.2%, it remains unprofitable with a FY2025 net income of -$389.8M. The company maintains a strong liquidity position with $1.64B in cash and short-term investments as of June 30, 2026.
- Market cap
- $4.21B
- Revenue (TTM)
- $150.3M
- P/E
- —
- 1Y return
- — S&P 500 16.8%
- Avg. target
- $33.50 223.4% vs last close
Bull case
- Quarterly revenue grew 196.2% year-over-year for the period ending June 30, 2026.
- The balance sheet maintains substantial liquidity with $1.61B in net cash and a current ratio of 17.20.
- Analyst consensus projects significant top-line expansion to $858.2M for next fiscal year, representing 305.7% revenue growth.
Bear case
- Net losses widened to -$389.8M in FY2025 alongside a negative gross margin of -47.9%.
- Cash burn remains elevated, with free cash flow of -$267.1M reported in FY2025.
- Valuation multiples are elevated relative to the sector, with a price-to-sales multiple of 28.0x compared to the US-listed Industrials peer median of 1.5x.
What X-Energy does
X-Energy, Inc. designs and develops nuclear reactor technology and manufactures nuclear fuels. The company provides the Xe-100 reactor, which is designed to generate 80 megawatts of electric power or 200 megawatts of thermal output (heat). It also produces TRISO-X, an advanced fuel for reactors. Founded in 2009 and headquartered in Rockville, Maryland, the company operates in the Industrials sector within the Specialty Industrial Machinery industry and employs 889 people.
Growth and profitability
Between FY2021 and FY2025, X-Energy's revenue expanded from $77.0M to $109.1M, representing a 4-year revenue CAGR of 9.1%. Annual performance has fluctuated, with revenue falling 31.1% in FY2024 to $84.0M before rebounding 29.9% in FY2025. Profitability remains significantly negative across all reported periods. In FY2025, gross margin was -47.9%, operating margin was -156.1%, and net income reached -$389.8M. For the trailing twelve months ended June 30, 2026, revenue stood at $150.3M with an operating margin of -219.6% and EPS of -$0.75, though quarterly revenue grew 196.2% year-over-year.
Balance sheet and cash flow
As of June 30, 2026, X-Energy held $1.64B in cash and short-term investments against total debt of $26.8M, resulting in net cash of $1.61B. The balance sheet reflects a current ratio of 17.20 and a debt-to-equity ratio of 0.01 on shareholders' equity of $1.81B. Free cash flow was -$267.1M in FY2025, driven by operating cash flow of -$149.9M and capital expenditures of $117.2M. The company also allocated $25.3M to share buybacks during FY2025.
Valuation and performance
With a market cap of $4.21B and an enterprise value of $3.11B, X-Energy trades at a price-to-sales multiple of 28.0x and an EV-to-revenue multiple of 20.7x. These multiples stand well above the median of its US-listed Industrials peers, which trade at a price-to-sales multiple of 1.5x. The company's price-to-book ratio is 2.6x. The stock closed at $10.36 on October 16, 2026, near its 52-week low of $10.07 and down from its 52-week high of $37.10, while the broader market benchmark SPY generated a 1-year return of 16.8%.
What analysts expect
Wall Street coverage includes 4 Strong Buy, 2 Buy, 2 Hold, and 1 Sell recommendations. The mean price target is $33.50, representing a 223.4% premium over the last close of $10.36. For the fiscal year ending December 31, 2026, analysts expect an EPS estimate of -$0.58 on revenue of $211.6M. For the following fiscal year, 4 analysts project revenue of $858.2M, reflecting 305.7% revenue growth, and an EPS estimate of -$0.55. The next earnings date is scheduled for November 12, 2026.
Key risks and what to watch
- Continuing negative operating margins, which stood at -219.6% over the trailing twelve months, may prolong cash burn.
- Capital intensity is significant, with FY2025 capital expenditures reaching $117.2M.
- Short interest represents 12.3% of the float, indicating meaningful market skepticism.
- The stock price of $10.36 trades close to its 52-week low of $10.07 after retreating from a 52-week high of $37.10.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this XE AI stock analysis
This page is an AI-written research summary of X-Energy, Inc. (XE). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: XE income statement, XE balance sheet, XE key metrics, XE analyst forecast, XE chart. See the XE stock overview for the latest quote and news.
XE AI stock analysis FAQ
What does X-Energy do?
X-Energy, Inc. designs and develops nuclear reactor technology, including the Xe-100 reactor capable of producing 80 megawatts of electricity or 200 megawatts of thermal output, and manufactures TRISO-X nuclear fuel.
Is X-Energy profitable?
No, X-Energy is currently unprofitable. It reported a net income of -$389.8M for FY2025 and an EPS of -$0.75 over the trailing twelve months.
What is X-Energy's cash and debt position?
As of June 30, 2026, X-Energy held $1.64B in cash and short-term investments against $26.8M in total debt, resulting in a net cash balance of $1.61B.
What are analysts' price targets for XE stock?
Analysts have established a mean price target of $33.50 for XE, which is 223.4% above its closing price of $10.36 on October 16, 2026.
Does X-Energy pay a dividend?
No, X-Energy does not pay a dividend.