Nuclear power has been part of our technological landscape since the 1950s, but apart from France, most countries have largely favored fossil fuels like oil, gas, and coal. That’s shifting now, though.
There’s a notable comeback in nuclear energy interest and investment across the globe. For instance, the U.S. Department of Energy aims to triple the country’s nuclear power output by 2050. Moreover, large tech companies are collaborating with energy firms to revive nuclear power plants, specifically for their data centers.
This renewed focus has led to a surge in nuclear stocks, which are seeing rapid growth. A few top performers stand out.
Start with Cameco (NYSE:CCJ), a major uranium mining company. In 2025, it produced about 15% of the world’s uranium, second only to Kazakhstan’s state-run Kazatomprom. Cameco operates extensively within the nuclear fuel cycle, with two high-grade mines in Canada and a third in Kazakhstan, plus a division for refining and producing uranium fuel rods.
Additionally, through a joint venture with Brookfield Asset Management (NYSE:BAM), Cameco holds a 49% stake in Westinghouse Corporation, known for manufacturing the AP1000 reactor, which is currently the most advanced nuclear reactor in use.
Cameco showed an 11% increase in revenue for 2025, maintaining a strong net profit margin of 16.9% and a low debt-to-equity ratio of 0.14—pretty impressive for such a capital-intensive industry.
The company supplies uranium primarily for nuclear reactors worldwide, including 94 across the U.S., mostly operated by Constellation Energy Corporation (NASDAQ:CEG).
Constellation is relatively straightforward as an energy firm, yet it stands out as the largest producer of both green energy and nuclear energy in America. With ownership of 21 nuclear reactors in the U.S., it plans to add more soon.
In a promising move, Constellation has teamed up with Microsoft (NASDAQ: MSFT). They plan to restart part of the Three Mile Island plant as the Crane Clean Energy Center, with Microsoft looking to sign a 20-year power purchase agreement to supply energy for regional data center requirements.
As an energy firm, Constellation shows stable growth. Their sales went up by 8.3% in 2025 compared to the previous year, with a net profit margin of 9.1% and a respectable debt-to-equity ratio of 0.61.
They’ve started paying dividends, which have grown annually since 2022, though the current yield is relatively low at 0.55%. However, given their payout ratio of 20.96%, they have ample room to increase dividends in the future.
Looking ahead, while Constellation’s nuclear fleet reflects contemporary nuclear technologies, several companies are also innovating in the field of nuclear fission. BWX Technologies (NYSE:BWXT) is one such firm with a rich history in naval reactors, having created components for the world’s first nuclear submarine, the USS Nautilus, since the 1950s, and has built over 400 nuclear reactors for the U.S. Navy.
With its extensive expertise, BWX has developed the BWXT Advanced Nuclear Reactor (BANR), a small modular reactor (SMR). These smaller reactors function similarly to conventional ones but are designed to be factory-assembled and then transported to their installation sites. Once operational, they are set to generate 75 megawatts of power—potentially catering to the energy needs of AI data centers.
Also, while many competitors in the SMR sector are new startups, BWX’s revenue largely comes from established operations. Their 2025 earnings reached $3.19 billion, showing an 18% growth from the previous year, and their earnings per share climbed 20% in that same period, with a net profit margin of 10.3%.
If Cameco and Constellation embody the current landscape of nuclear technology, BWX looks to the future, representing the cutting edge of nuclear engineering. All three companies deserve attention, especially as the demand for nuclear energy is expected to continue climbing this year and beyond.
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