Nuclear Fuel Services
Companies providing uranium enrichment and nuclear fuel fabrication.
Market snapshot
These figures describe Nuclear Power Generation (6.4.6), the segment that Nuclear Fuel Services sits within. They are not figures for Nuclear Fuel Services on its own.
- Market size
- ~$35B
- Growth
- ~3.6%CAGR (2017–22, nominal)
- Companies
- ~36 firms
A handful of operators, enormous fixed costs, and an economics that turned in the last few years: plants slated for closure are now being relicensed and even restarted as data-center demand puts a premium on firm carbon-free power. Deals here are corporate and financing events, not the kind of asset trade the rest of this sector describes.
NAICS 221113. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.
Business model & economics
Revenue model
Baseload wholesale power, PPAs, and clean-energy credits
Key economics
- Revenue per firm
- $961,101,333
- Revenue per employee
- $874,568
- Employees per firm
- 1,066.0
- Recurring revenue
- High
- EBITDA margin
- Strong
- Capex intensity
- High
recurring baseload generation
low-marginal-cost baseload
Characteristics
- Scale-driven: payroll is only 15% of revenue, so the cost base is assets, not headcount
- Largest source of U.S. carbon-free electricity.
- Renaissance: data-center PPAs, restarts, license extensions.
- SMRs promise new build for firm clean power.
NAICS 221113. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.
M&A deal context
Who’s acquiring
- Nuclear utilities & IPPs
- Hyperscalers & corporate clean-power buyers
- SMR developers & investors
What’s driving deals
- Data-center demand for firm clean power.
- License extensions, uprates, and restarts.
- SMR development and new build.
Find Nuclear Fuel Services acquisition targets
Search Acquisera’s index for companies classified under Nuclear Fuel Services (6.4.6.1) and build a targeted deal pipeline.
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