Rankings Commodities & uranium IsoEnergy
IsoEnergy
62
15070100
A view of the same findings, not a new score. How it works
A good business with a real question mark: the price, a crack, or both.
Biggest deductions
- Margin−11
- Valuation vs history and resource−6
- Dilution and financing−5
Strengths
- Net cash+2
- Strategic shareholder+2
How the score is built
From 100 to 62, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 11.31 CAD
- Median analyst target
- 23.38 CAD
- Upside to median
- +106.7%
- Analysts
- 8
- Target range
- 19.00 – 27.15 CAD
- 52-week change
- −21%
- P/E (trailing)
- n/a
- Forward P/E
- n/a
- PEG
- n/a
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−18 of −30
- −11MarginNo revenue. The operating result is −C$19.6m TTM, net result −12.5m and FCF −C$38.2m (operating cash flow −13.0m and exploration/capex −25.2m). ROE −2.7% and ROIC −2.6% are not counted again.
- −4Resource and studiesHurricane is the world's highest-grade indicated uranium resource (48.6m lb at 34.5%), and Wiluna adds about 75m lb of near-surface but low-grade uranium with capex of about C$300m. Neither project has a PEA or a recent economic study: Wiluna expects an updated study in 6–12 months, and Tony M's study comes at the end of 2026.
- −3Capital allocationThe portfolio is spread across Saskatchewan, Utah, Virginia, Quebec and several Australian projects, and growth was bought with shares (Consolidated Uranium 2023, Toro 2026 for 4.4m shares at approx. 64m C$). At the same time, small assets are sold for shares in micro-cap companies (Dieter Lake, Jaguar, Royal Uranium). Focus and capital are being spread thin before a single project has been brought to a decision.
Price
Today's multiples against the company's own history and its peers. · 1 finding−6 of −35
- −6Valuation vs history and resourceP/B 1.59 vs 1.53–7.08 in 2021–25, i.e. at the bottom of its own history. EV CAD 705m equals approx. CAD 13.7 per lb for Hurricane alone and approx. CAD 5.6 per lb incl. Wiluna. That is not expensive for high-grade Athabasca uranium, but a market value of CAD 865m for a developer without a PEA rests on expectations that no study yet supports.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−12 of −35
- −5Dilution and financingThe share count has risen 24% over a year to 65.2m: bought deal of C$57.5m and NexGen placement of C$25m in January 2026 (both at C$15), Toro shares in June and a new ATM program of up to C$50m (April 2026, running to 2028). The accounts say that going concern depends on new financing, and the construction of Wiluna and Hurricane will require far more capital.
- −4JurisdictionA large part of the resources lies where uranium mining is banned or restricted: Coles Hill (132.9m lb historical) is locked by Virginia's moratorium, which the US Supreme Court let stand in 2019, Matoush is in Quebec, which also does not allow uranium mines, and Western Australia only allows Wiluna because its approval predates the ban on new uranium mines.
- −2ExecutionSummer drilling at Larocque East (Hurricane) was stopped by forest fires in June 2026 after only six of 20 planned holes, and the restart of Tony M still awaits an economic study and market conditions.
- −1SentimentThe stock is −9% over 52 weeks and trades below both the 50- and 200-day averages (C$14.51 and 14.89) at C$13.25 – below the issue price of C$15 from January.
Plus
Only documented strengths. · 2 findings+4 of +15
- +2Net cashCash C$122.9m and listed securities C$43.0m at 30/6-2026 vs debt of only about C$6m (convertible bonds); adjusted working capital C$160.9m, several years of spending.
- +2Strategic shareholderNexGen Energy (Arrow project) owns 27.8% and bought for C$25m in January 2026 at C$15 per share – above the current price.
Caveats
What the score does not capture, or where the data is weak.
Uranium developer without revenue and without proven reserves; listed on the TSX (ISO) and NYSE American (ISOU) – the analysis follows the TSX listing in CAD. The shares were consolidated 1:4 in March 2025, so the history before that is adjusted. The acquisition of Anfield (Shootaring mill, Utah) was terminated by Anfield in January 2025 and is not included. Consolidated Uranium (American mines in Utah, Coles Hill in Virginia, Australian projects) was bought in December 2023, and Toro Energy (Wiluna, Western Australia, approx. 75m lb) in June 2026. Hurricane has 48.6m lb indicated at 34.5% U3O8 plus 2.7m lb inferred, but there is no PEA yet, so P/NAV cannot be calculated; T2 is based on P/B history and EV per lb. The Coles Hill figures (132.9m lb indicated) are historical and not a current resource. The Utah mines (Tony M etc.) are on standby with a tollmilling agreement with Energy Fuels; no restart decision before an economic study at the end of 2026. NexGen owns 27.8% and has influence. Quarterly spending (operations + exploration) was approx. CAD 7.4m in Q2 2026. Insider trades and short interest have not been examined (Stockanalysis shows no short data for the TSX). Q3 report expected 4/11-2026.
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