NuScale Power (SMR) Heads Into Earnings With Project Updates Putting Valuation Back In Focus

NuScale Power (SMR) is in focus ahead of its second quarter 2026 earnings release on August 5, as investors watch for concrete updates on the Tennessee Valley Authority discussions and Romania’s RoPower project.

See our latest analysis for NuScale Power.

NuScale Power’s recent price action has been volatile, with a 7.01% 1 day share price return and 9.61% 7 day share price return, yet the 1 year total shareholder return has fallen 80.04%. This highlights building short term momentum against a weaker longer record.

If the NuScale Power story has you looking more broadly at nuclear themes, this could be a useful moment to scan 88 nuclear energy infrastructure stocks

After NuScale Power’s sharp recent swing and weak 1-year record, the real debate now is whether most of the rebound is already in the price or if the bigger upside is still ahead as the projects and cash flows are valued.

Most Popular Narrative: 91% Undervalued

The leading narrative on NuScale Power pegs fair value at $100 per share compared with the last close at $9.01. That gap is driving a very different story from what the share price alone suggests.

NuScale (SMR) is experiencing the kind of noise typical of the broader nuclear power thesis. The stock is trading in the $10–11 range on volume roughly in line with its 30-day average near 37M shares, while Wall Street's consensus price target sits around $15. The real question isn't mere sentiment; it is the timeline: how quickly NuScale can integrate its SMR reactors into the tech layer that actually controls and dispatches the power. What most coverage misses is that this technology is not limited to data center fueling. It is a broader play on high-energy-demand infrastructure across the private sector, anywhere that needs firm, around-the-clock power at scale.

Read the complete narrative.

According to Delphic, this fair value leans heavily on aggressive revenue expansion, rising margins and a future earnings multiple more often associated with mature, highly profitable platforms. Curious which specific growth path and profitability assumptions have to line up to reach that $100 mark and how they compare with NuScale Power's current fundamentals.

Result: Fair Value of $100 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, NuScale Power still faces real risks if project timelines slip further or costs rise again, which could test investor patience with this long-term story.

Find out about the key risks to this NuScale Power narrative.

Next Steps

The mix of pressure and optimism around NuScale Power may feel conflicting, so consider acting while the story is still evolving and weigh both sides for yourself with 1 key reward and 3 important warning signs

Looking for more investment ideas beyond NuScale Power?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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