X-energy (XE)
Develops Xe-100 modular reactors and TRISO-X fuel for electricity and industrial heat.
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Develops the Xe-100 high-temperature gas-cooled reactor, TRISO-X pebble fuel, and engineering and licensing services for electricity and industrial heat projects. Revenue is currently concentrated in U.S. government-backed development work, while commercial deployment depends on regulatory approvals, customer commitments, and specialized nuclear-fuel supply.
Designs the Xe-100 high-temperature gas-cooled small modular reactor and manufactures TRISO-X fuel formed into graphite pebbles. The platform is designed to supply electricity, high-temperature process heat, or both. Engineering, licensing, and project-development services connect the reactor and fuel programs to customer deployments.
Commercial programs span the United States and United Kingdom, including Dow’s Seadrift industrial project, Amazon and Energy Northwest’s Washington power project, and Centrica’s planned Hartlepool fleet. U.S. Department of Energy-backed development services currently generate most revenue; commercial reactor and recurring fuel sales await deployment.
Execution centers on completing designs, advancing projects through regulators, and building the Oak Ridge fuel campus and specialized supply chain. Deployment depends on construction and operating approvals, customer commitments, government cost sharing, and reliable access to HALEU enrichment and nuclear-grade graphite.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 8, 2026 | Piper Sandler | Initiate | Rating: —Target: — | Target: $9 |
| Jul 1, 2026 | UBS | Reiterate | Rating: —Target: $40 | Target: $34 |
| Jun 24, 2026 | Jefferies | Reiterate | Rating: —Target: $28 | Target: $22 |
| May 19, 2026 | Cantor Fitzgerald | Target | Target: — | Target: $38 |
| May 19, 2026 | Jefferies | Target | Target: — | Target: $28 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.64B · Total debt $26.8M · Total assets $2.26B · Shareholders' equity $1.81B
- Revenue
- $54.6M
- Operating income
- −$110.0M
- Net income
- −$59.1M
No dividends on record.
| Institutions | 44.69% | 181.61M shares | |
|---|---|---|---|
| 202 holders · as of Jun 30, 2026 | |||
| Insiders | 1.22% | 4.97M shares | |
| 11 holders · as of Jun 26, 2026 | |||
| Other | 54.09% | 219.79M shares | |
| remainder | |||
406.37M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (406.37M in the company's Sep 22, 2026 report, 21.95M elsewhere); stakes use the report.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Amazon Com IncInstitution | 16.20% | 65.84M A | as of Jun 30, 2026 |
Segra Capital Management, LLCInstitution | 3.56% | 14.48M A | as of Jun 30, 2026 |
Ares Management LLCInstitution | 3.41% | 13.84M A | as of Jun 30, 2026 |
Ontario Teachers Pension Plan BoardInstitution | 2.08% | 8.46M A | as of Jun 30, 2026 |
Van Eck Associates CorpInstitution | 1.75% | 7.12M A | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 27, 2026 | Laura Garcia | officer: Chief Accounting Officer | +1,200 | $23.00 |
| Apr 27, 2026 | Joel Duling | officer: President, TRISO-X | +100 | $23.00 |
| Apr 27, 2026 | Kathleen W. Hyle | director | +10,000 | $23.00 |
| Apr 27, 2026 | Michael J. Wallace Wallace | director | +1,000 | $23.00 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| X-energy | $16.41 | +0.24% | $359.3M | — | — | — | — |
| NuScale Power | $8.90 | +1.25% | $2.62B | — | — | 245.5 | −99.1% |
| Oklo | $40.70 | +1.29% | $6.99B | — | — | 5,777.7 | — |
| GE Vernova | $950.72 | +0.48% | $252.01B | 27.2 | 46.1 | 6.1 | +21.9% |
| Nano Nuclear Energy | $17.25 | +0.88% | $918.2M | — | — | 4,290.0 | — |
| BWX Technologies | $145.21 | −1.54% | $13.51B | 38.0 | 29.1 | 3.8 | +18.0% |
| Centrus Energy | $158.82 | +2.56% | $2.93B | 70.4 | 62.8 | 6.2 | +14.0% |
| Median | 38.0 | 46.1 | 125.8 | +16.0% |