What Is 1 of the Best Industrial Stocks to Own for the Next 10 Years?

Why It Matters

Rising nuclear capacity drives sustained uranium demand, and Cameco’s scale and financial strength make it a prime beneficiary, offering investors a rare growth story in a capital‑intensive commodity space.

Key Takeaways

• Cameco produced 164 M lbs uranium, 15% of global supply 2025.
• 2025 revenue $3.48 B, EPS $1.35, up 237% YoY.
• Debt‑to‑Equity 0.14, net profit margin 16.9%, strong balance sheet.
• Uranium price up 33% year‑over‑year, mid‑$80s per pound.
• 75 reactors under construction, 120 planned, fueling long‑term demand.

Pulse Analysis

The global push toward low‑carbon electricity is reigniting interest in nuclear power, with the World Nuclear Association reporting 75 reactors under construction and another 120 in the pipeline. This surge translates into a multi‑decade demand curve for uranium, a commodity that has outperformed other energy inputs over the past twelve months, climbing roughly 33% and stabilizing in the mid‑$80s per pound. Investors are watching the supply side closely, as any bottleneck could accelerate price appreciation.

Cameco stands out in this environment not only because it supplies a sizable slice—15%—of the world’s uranium, but also due to its integrated business model. The company’s 49% joint venture in Westinghouse gives it a foothold in reactor engineering and fuel fabrication, extending its revenue streams beyond raw ore. Financially, Cameco posted an 11% revenue increase to $3.48 billion in 2025, while EPS surged 237% to $1.35, underscoring the impact of higher uranium prices on profitability. A debt‑to‑equity ratio of 0.14 and a net profit margin near 17% signal a robust balance sheet uncommon in mining.

From an investment standpoint, Cameco’s market cap of $50 billion and a share price near the upper end of its 52‑week range suggest the market has already priced in some of the upside. However, the company’s modest 0.15% dividend yield and low leverage provide a cushion against potential price volatility. Compared with peers like Kazatomprom, Cameco offers a blend of growth potential and financial discipline, making it a compelling addition for portfolios seeking exposure to the long‑term nuclear energy transition.