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Ur-Energy Inc (URG) stock analysis

URGNYSEGold and Silver OresFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 9, 2026Score 5/3036% below fair value
$0.62−0.03 (-5.25%)

Close on Nov 12, 2026Market cap $246.08MP/E –Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value2Growth1Performance1Health1Dividend0

Weak5 of 30 checks passed

Ur-Energy passes 5 of the 30 checks behind our score; 17 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
2/6
Growth
1/6
Past performance
1/6
Financial health
1/6
Dividend
0/6

What stands out

  • Margin of safety over 20%

    The price is 35.7% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $0.65 is below our fair value estimate of $1.01.

  • Revenue growing 10%+ a year

    Revenue grew 1027% a year over the last three fiscal years.

  • Net margin above its 5-year average

    Net margin was -191% over the last twelve months, against a 5-year average of -46836%.

What to watch

  • Return on equity under 15%

    Return on equity was -110% over the last twelve months and averaged -47.5% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -322%, below the 10% that usually covers the cost of capital.

  • Interest not well covered

    Operating income covers interest expense -9.3 times; we look for at least 5.

  • Elevated bankruptcy risk

    The Altman Z-score is -2.35; above 3 is the safe zone and below 1.8 the distress zone.

Valuation2/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B above the industry

    Ur-Energy's price-to-book of 4.91 is above the Materials median of 3.45.

  • Trading below fair value

    The share price of $0.65 is below our fair value estimate of $1.01.

  • Margin of safety over 20%

    The price is 35.7% below fair value, more than the 20% cushion we look for.

Growth1/6

  • Revenue growing 10%+ a year

    Revenue grew 1027% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growth against the industry

    Needs revenue for this year and last.

  • Guidance issued

    The latest outlook (2026 base deliveries of U₃O₈, Aug 10, 2026) was issued for the first time, so it neither adds nor takes away points.

  • Gross margin trend

    This company does not report gross profit.

Past performance1/6

  • Return on equity under 15%

    Return on equity was -110% over the last twelve months and averaged -47.5% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -322%, below the 10% that usually covers the cost of capital.

  • Return on equity below the industry

    Ur-Energy's return on equity of -110% is below the Materials median of -8.5%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was -191% over the last twelve months, against a 5-year average of -46836%.

  • Net margin below the industry

    Ur-Energy's net margin of -191% is below the Materials median of 10.8%.

Financial health1/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt coverage

    Needs operating cash flow.

  • Interest not well covered

    Operating income covers interest expense -9.3 times; we look for at least 5.

  • Short-term assets cover short-term debts

    Current assets are 5.05 times current liabilities.

  • Elevated bankruptcy risk

    The Altman Z-score is -2.35; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Ur-Energy has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$1.01

The share price is 36% below this estimate.

20%+ below
Near fair value
20%+ above
$0.65Price$1.01Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/B3.8×4.2×3.5×$0.5150%
P/S14.7×24.8×5.5×$1.5250%
Fair value$1.01100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Materials median 21.9

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Medium risk

Average value traded per day
$10.37M
Value traded per 1% price move
$2.50M

Downside

High risk

Typical loss in a bad month
31.3%
Volatility (annualized)
73%
Sharpe ratio, 1 year
-0.75
Beta to the S&P 500 (5Y)
1.38

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Gross margin

0.3%+56.2 pts over 5 years

Operating margin

-255.0%−94.6 pts over 5 years

Net margin

-275.3%−97.5 pts over 5 years

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