CamecoTSX:CCO -0.71%86 Gross Margin % is 35.68% as of Mar. 2026, which is 115% above its 10-year median of 16.60. GuruFocus rates TSX:CCO with a GF Score™ of 86/100 and a GF Value™ of C$94.18 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 124 Other Energy Sources companies, Cameco ranks better than 67.74% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Cameco's Gross Profit for the
three
months ended in Mar. 2026 was C$302 Mil. Cameco's Revenue for the
three
months ended in Mar. 2026 was C$845 Mil. Therefore, Cameco's Gross Margin % for the quarter that ended in Mar. 2026 was 35.68%.
The historical rank and industry rank for Cameco's Gross Margin % or its related term are showing as below:
TSX:CCO'
s Gross Margin % Range Over the Past 10 Years
Min: 0.13 Med: 16.6 Max: 28.31
Current: 28.31
During the past 13 years, the highestGross Margin % of Cameco was 28.31%. The lowest was 0.13%. And the median was 16.60%.
TSX:CCO's Gross Margin % is ranked better than 67.74% of 124
companies
in the Other Energy Sources industry
Industry Median: 18.775
vs TSX:CCO: 28.31
Cameco had a gross margin of 35.68% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Cameco was 99.00% per year.
Cameco (TSX:CCO) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Cameco had a gross margin of 35.68% for the quarter that ended in Mar. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Cameco Gross Margin % Related Terms
Cameco Gross Margin % Historical Data
* Premium members only.
The historical data trend for Cameco's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Uranium subindustry, Cameco's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Cameco Gross Margin % vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Cameco's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Cameco's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Cameco (TSX:CCO) has a Gross Margin % of 35.68% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Cameco and its competitors. This is 115% above median its historical median of 16.60. Over the past decade, Cameco's Gross Margin % has ranged from 0.13 to 28.31. According to the industry distribution chart, Cameco ranks #40 out of 124 companies in the Other Energy Sources industry, placing it in the top 32.3%.
Is Cameco's Gross Margin % too high?
Cameco's current Gross Margin % of 35.68% is 115% above median its 10-year median of 16.60. Over the past 10 years, this metric has ranged from a low of 0.13 to a high of 28.31. The Other Energy Sources industry median Gross Margin % is 18.78. Cameco's value of 35.68% is 90% above this industry median. Based on the distribution chart, Cameco ranks #40 out of 124 companies in the Other Energy Sources industry, which is above the industry midpoint. Overall, Cameco has a GF Score™ of 86/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cameco's Gross Margin % compare to UEC and LEU?
According to the Other Energy Sources industry distribution chart, Cameco ranks #40 out of 124 companies for Gross Margin %. This puts Cameco in the upper half of its industry. The industry median Gross Margin % is 18.78. Cameco's value of 35.68% is 90% above this benchmark. Historically, Cameco's own Gross Margin % has ranged from 0.13 to 28.31 over the past decade. While the company's 10-year median is 16.60 vs. the industry median of 18.78, Cameco has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for an Other Energy Sources company?
The median Gross Margin % among Other Energy Sources companies is 18.78, based on 124 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cameco's current Gross Margin % of 35.68% is 90% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Cameco and its competitors. For the Other Energy Sources industry, the median Gross Margin % is 18.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cameco's current Gross Margin % is 35.68%, which is 115% above median its own 10-year median of 16.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cameco stock overvalued right now?
Based on GuruFocus' analysis, Cameco (TSX:CCO) is currently considered Significantly Overvalued. The stock's GF Value™ is C$94.18, compared to a current price of C$146.92 — trading 56% above its estimated fair value. The current Gross Margin % is 35.68%, which is 115% above median its 10-year median of 16.60 and 90% above the Other Energy Sources industry median of 18.78. Cameco's overall GF Score™ is 86/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Cameco (TSX:CCO), the current Gross Margin % is 35.68% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Cameco (TSX:CCO) Overvalued in 2026?
Based on GuruFocus' analysis, Cameco stock appears to be overvalued.
The current stock price of C$146.92 is trading 56% above its estimated GF Value™ of C$94.18.
GuruFocus considers Cameco to be Significantly Overvalued.
Key valuation signals for TSX:CCO:
Gross Margin %: 35.68% (115% above median its 10-year median of 16.60)
GF Value™: C$94.18 vs. price of C$146.92 (56% above fair value)
Industry Position: 90% above the Other Energy Sources median (#40 of 124)
No single metric tells the full story. See the TSX:CCO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cameco Corp is a provider of uranium needed to generate clean, reliable baseload electricity around the globe and is one of those uranium producers. It has three reportable segments: Uranium, Fuel Services, and Westinghouse, deriving maximum revenue from the Westinghouse segment. The Uranium segment involves the exploration for, mining, milling, purchase, and sale of uranium concentrate, while the Fuel Services segment involves the refining, conversion, and fabrication of uranium concentrate and the purchase and sale of conversion services. Westinghouse Electric Company provides products and services to nuclear reactors, including outage and maintenance services, engineering support, instrumentation and controls equipment, plant modification, and components and parts.
86GF Score
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