Centrus Energy Corp. (LEU) Stock Price & How to Invest
Short answer
You can invest in Centrus Energy (LEU) by buying shares or fractional shares at any major broker, through an ETF that holds it, or as one holding in a thematic basket. Centrus is a US nuclear-fuel company that supplies enriched uranium to power-plant operators and runs the only US-licensed HALEU enrichment facility, in Piketon, Ohio, producing the high-assay low-enriched uranium that advanced reactors need. The thesis is that US efforts to reshore enrichment and the ban on Russian uranium imports give Centrus a policy-backed runway to expand domestic capacity. The biggest risks are heavy dependence on government funding and contracts, customer concentration, swings in enrichment (SWU) prices, and the execution risk of scaling up a capital-intensive plant.
LEU stock price
As of 2026-06-26, Centrus Energy Corp. (LEU) last closed at $165.52, down 1.9% over the past year. Over the past 52 weeks it has traded between $146.61 and $436.00.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Centrus Energy Corp.'s investor relations page. Walnut is informational, not investment advice.
What does Centrus Energy Corp. (LEU) do?
Centrus Energy, headquartered in Bethesda, Maryland, supplies nuclear fuel and fuel-cycle services to the commercial power industry. It operates through two segments. The Low-Enriched Uranium (LEU) segment buys separative work units (SWU) and uranium and sells enriched uranium to utilities that run nuclear reactors, a business carried by long-term contracts and a large multi-year order backlog. The Technical Solutions segment houses the company's American Centrifuge work, including its US-government HALEU enrichment contract, contract engineering, and technical services, and is the platform Centrus is using to build new domestic enrichment capacity.
Centrus traces its roots to the former US Enrichment Corporation, the government enrichment enterprise that was privatized, and it emerged from a 2014 bankruptcy reorganization refocused on its own centrifuge technology. Its strategic turn came as Washington moved to rebuild a domestic nuclear-fuel supply chain: Congress passed the Prohibiting Russian Uranium Imports Act in 2024, which banned most Russian enriched-uranium imports and unlocked about $2.7 billion in federal funding for US enrichment. Centrus runs the only US-licensed HALEU facility, delivered its first HALEU to the Department of Energy, and in early 2026 was selected for a roughly $900 million DOE task order to add commercial-scale HALEU and expand enrichment at Piketon, Ohio. That Russian-import-ban tailwind plus growing demand for HALEU from advanced-reactor developers is the core of the investment story.
What's driving Centrus Energy Corp. (LEU)?
1. HALEU and the DOE expansion award.
Centrus runs the only US-licensed HALEU enrichment plant and has delivered HALEU to the Department of Energy, including a 900-kilogram milestone delivery in 2025. In early 2026 it was selected for a roughly $900 million DOE task order, which could exceed $1 billion with options, to build commercial-scale HALEU and expand enrichment at Piketon, Ohio. The base build-out targets about 12 metric tons of HALEU capacity per year with a first cascade aimed to come online around 2029, positioning Centrus as a domestic supplier for advanced reactors.
2. Russian-import-ban tailwind and reshoring.
The Prohibiting Russian Uranium Imports Act, effective in 2024, banned most Russian enriched-uranium imports, which had supplied around a quarter of US reactor demand, and unlocked about $2.7 billion in federal funding for US enrichment. Russia retaliated with its own export restrictions. As one of the few Western enrichers, Centrus benefits from utilities and the government seeking non-Russian supply, which underpins its LEU contracting and its case for new capacity.
3. Long-term LEU backlog and contracting.
Centrus ended 2025 with a total company backlog of about $3.8 billion extending to 2040, including roughly $2.9 billion in its LEU segment. The company has secured around $2.3 billion in LEU purchase commitments from domestic and export utilities, with a portion under definitive agreements. These multi-year contracts give the LEU business a degree of revenue visibility that helps fund the expansion.
4. Balance sheet and capacity to invest.
Centrus ended 2025 with roughly $2.0 billion in unrestricted cash and reported full-year revenue of about $448.7 million with net income near $77.8 million. It raised more than $1.2 billion in private capital through convertible-note transactions in late 2024 and 2025 to fund growth, and has described plans for a multi-billion-dollar enrichment expansion. That cash cushion gives it room to scale, though large capital projects also carry execution and dilution risk.
What are the risks to Centrus Energy Corp. (LEU)?
Centrus is heavily dependent on government funding and contracts: its HALEU program runs on DOE awards and extensions, and a multi-billion-dollar expansion relies on continued federal support and appropriations that can shift with politics. Customer concentration is high, with a limited set of utilities and the US government driving revenue, so the loss or delay of a single contract can swing results. The business is exposed to enrichment (SWU) and uranium price cycles, which are volatile and can compress margins. Scaling up centrifuge cascades is capital-intensive and technically demanding, raising execution and timeline risk, and the company faces competition from larger global enrichers and from other US funding recipients. The stock has run up sharply and trades at a high valuation, leaving it sensitive to any disappointment.
How is Centrus Energy Corp. (LEU) valued? (approximate, FY2025 results and latest quarter)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Centrus Energy Corp.'s investor relations page or your broker.
- Revenue (FY2025): ~$448.7 million, up ~1.5% year over year; SWU revenue up ~21%
- Net income (FY2025): ~$77.8 million
- Backlog: ~$3.8 billion total (to 2040), including ~$2.9 billion in the LEU segment
- Cash: ~$2.0 billion in unrestricted cash at year-end 2025
- Market cap: ~$3 billion in 2026, highly volatile
- P/E ratio: Elevated, roughly in the mid-50s on trailing earnings, well above its long-run average
A nuclear-fuel company like Centrus is read differently from a typical industrial: the multi-year backlog and contract structure matter more than any single quarter, because LEU revenue is lumpy and recognized as deliveries occur, so results can swing quarter to quarter. Much of the stock's value reflects future capacity and policy leverage, especially the DOE HALEU awards and the Russian-import-ban tailwind, rather than current profits, which is why the P/E sits far above its historical average. All figures are approximate as of the dates noted and refresh each quarter; verify against Centrus's investor relations page or your broker.
Which ETFs hold Centrus Energy Corp. (LEU)?
If you want LEU exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.
| ETF | Name | % in LEU | Expense ratio | |
|---|---|---|---|---|
| URA | Global X Uranium ETF | approximately 3% | 0.69% |
Who competes with Centrus Energy Corp. (LEU)?
Uranium enrichers and fuel suppliers
Centrus competes in enrichment with large global players, most of which are state-linked or privately held: Urenco (a European consortium), Orano (France, which also received US HALEU funding), and Russia's Rosatom/Tenex, historically the dominant low-cost supplier now largely shut out of the US. Other US funding recipients such as General Matter and Global Laser Enrichment are emerging rivals for domestic enrichment capacity. Most of these are not directly investable as US-listed stocks, which is part of Centrus's scarcity appeal.
Uranium miners
Centrus enriches uranium rather than mining it, but investors often compare it with miners that supply the front of the fuel cycle. Cameco (CCJ) is the largest publicly traded Western uranium miner, and Kazatomprom (Kazakhstan) is the world's biggest producer. These names give exposure to uranium prices and nuclear demand but with a different business model than enrichment.
ETFs and nuclear-fuel alternatives
Investors who want diversified exposure to the nuclear and uranium theme rather than a single enricher often use ETFs such as the Global X Uranium ETF (URA), the Sprott Uranium Miners ETF (URNM), and the VanEck Uranium and Nuclear ETF (NLR). These funds hold baskets of miners, enrichers, utilities, and reactor builders, and some include Centrus at a small weight; check current holdings with the provider.
How to invest in Centrus Energy Corp. (LEU)
There are three common ways to get LEU exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (URA), which spreads the position across many companies. Or build it into a focused thematic basket, so LEU sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where LEU fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Centrus Energy Corp. (LEU)
If you believe the US will keep reshoring uranium enrichment away from Russia and that Centrus can scale its Piketon plant to serve both existing reactors and the next generation of advanced reactors that run on HALEU, then Centrus Energy (LEU) is a focused way to express that view. It is a volatile, policy-driven growth stock whose price swings sharply with DOE funding news, contract awards, enrichment prices, and the broader nuclear-sentiment cycle, so most holders treat it as a high-volatility position sized inside a broader basket.
More on Centrus Energy Corp. (LEU)
Whether LEU is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is LEU a buy?, and where the stock could go from here in the LEU stock forecast.
For income investors, whether LEU pays a dividend and how the payout looks is covered in does LEU pay a dividend?
Build a basket around LEU with Walnut
Use Centrus Energy Corp. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Centrus Energy do?
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Centrus Energy supplies nuclear fuel and fuel-cycle services. Its Low-Enriched Uranium segment sells enriched uranium to utilities that run nuclear reactors under long-term contracts, and its Technical Solutions segment houses its American Centrifuge work, including a US-government HALEU enrichment contract and engineering services. Centrus runs the only US-licensed HALEU enrichment facility, in Piketon, Ohio, producing the high-assay fuel that advanced reactors need.
What is LEU's ticker symbol and where is it listed?
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The company trades as LEU on the NYSE American exchange, officially Centrus Energy Corp., headquartered in Bethesda, Maryland. The ticker comes from low-enriched uranium, its core product. It is available at every major US brokerage with commission-free trading, and many brokers also offer fractional shares so you can invest a fixed dollar amount.
Does LEU pay a dividend?
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No. Centrus Energy does not currently pay a dividend on its common stock, so its yield is 0%. The company is reinvesting in expanding US enrichment capacity rather than returning cash to shareholders, so any return would come from share-price changes rather than dividend income. The figure is current as of the dates noted; verify against Centrus's investor relations page.
What is HALEU and why does it matter?
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HALEU stands for high-assay low-enriched uranium, fuel enriched to between 5% and 20% uranium-235, higher than the roughly 5% used in today's reactors. Many next-generation advanced and small modular reactors are designed to run on it, but there has been almost no commercial Western supply. Centrus runs the only US-licensed HALEU facility and has delivered HALEU to the Department of Energy, which is central to its growth story.
How does the Russian uranium import ban help Centrus?
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The Prohibiting Russian Uranium Imports Act, effective in 2024, banned most Russian enriched-uranium imports, which had supplied around a quarter of US reactor demand, and unlocked about $2.7 billion in federal funding for domestic enrichment. As one of the few Western enrichers, Centrus benefits from utilities and the government seeking non-Russian supply, supporting its LEU contracting and its case for building new US capacity.
Is LEU a good stock?
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This is descriptive, not advice. The bull case is that Centrus is the leading US-listed enricher with the only US-licensed HALEU plant, a large DOE award, a multi-billion-dollar backlog, and a strong policy tailwind from the Russian-import ban. The bear case is heavy dependence on government funding and contracts, customer concentration, volatile enrichment prices, costly scale-up execution, and a high valuation after a big run. Whether it fits depends on your own goals and risk tolerance.
Is LEU a good stock to buy right now?
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This is informational, not a recommendation. Centrus has been one of the strongest-performing nuclear-fuel stocks, driven by DOE HALEU awards and the reshoring of enrichment, but it trades at a high valuation and is volatile, swinging sharply on policy and contract news. Timing depends on your own goals, time horizon, and risk tolerance, and past performance does not predict future returns. Walnut provides information, not investment advice.
Which ETFs or baskets include LEU?
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Centrus appears in uranium and nuclear-energy ETFs such as the Global X Uranium ETF (URA), the Sprott Uranium Miners ETF (URNM), and the VanEck Uranium and Nuclear ETF (NLR), typically at a small weight, and in small-cap index funds. Holdings shift as funds rebalance, so check a fund's current holdings with its provider. In Walnut you can also hold LEU as one constituent of a thematic nuclear or energy basket.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Centrus Energy Corp.'s investor relations page or your broker before making investment decisions.