Cameco (TSX:CCO) Moat Score: 6/10 (As of Jul. 06, 2026)


TSX:CCO Cameco Corp TSX:CCO
89 GF Score
Price C$139.59
GF Value C$94.08
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Cameco Moat Score?

Cameco TSX:CCO +1.98% 89 Moat Score is 6 as of Jul. 06, 2026. GuruFocus rates TSX:CCO with a GF Score™ of 89/100 and a GF Value™ of C$94.08 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 185 Other Energy Sources companies, Cameco ranks better than 98.92% on this metric.

Cameco has the Moat Score of 6, which implies that the company might have Narrow Moat - Strong narrow moat, clearly distinguishable but not wide.

Cameco has Narrow Moat: Cameco Corp has a strong position in the uranium market with significant regulatory barriers and cost advantages due to its scale and expertise. However, it faces competition and lacks strong brand loyalty or network effects. Its moat is strong but not wide, supported by its market position and regulatory environment.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Cameco might have Narrow Moat - Strong narrow moat, clearly distinguishable but not wide.

Cameco  (TSX:CCO) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Cameco Moat Score Related Terms

TSX:CCO vs UEC, LEU: Moat Score Comparison

For the Uranium subindustry, Cameco's Moat Score, along with its competitors' market caps and Moat Score 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 Moat Score vs Other Energy Sources Industry

For the Other Energy Sources industry and Energy sector, Cameco's Moat Score distribution charts can be found below:

* The bar in red indicates where Cameco's Moat Score falls into.


TSX:CCO
89GF Score
Cameco Corp TSX:CCO
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 6 mean?
Cameco (TSX:CCO) has a Moat Score of 6 as of Jul. 06, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, Cameco ranks #2 out of 185 companies in the Other Energy Sources industry, placing it in the top 1.1%.
Is Cameco's Moat Score too high?
Cameco's current Moat Score is 6. Based on the distribution chart, Cameco ranks #2 out of 185 companies in the Other Energy Sources industry, which is in the top quartile — a strong position relative to peers. Overall, Cameco has a GF Score™ of 89/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cameco's Moat Score compare to UEC and LEU?
According to the Other Energy Sources industry distribution chart, Cameco ranks #2 out of 185 companies for Moat Score. This places Cameco in the top 1% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for an Other Energy Sources company?
A good Moat Score depends on the Other Energy Sources industry context. However, Moat Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. Cameco's current Moat Score is 6. 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$94.08, compared to a current price of C$139.59 — trading 48.4% above its estimated fair value. The current Moat Score is 6. Cameco's overall GF Score™ is 89/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Moat Score calculated?
Moat Score is calculated from a company's financial statements. For Cameco (TSX:CCO), the current Moat Score is 6 as of Jul. 06, 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$139.59 is trading 48.4% above its estimated GF Value™ of C$94.08. GuruFocus considers Cameco to be Significantly Overvalued.

Key valuation signals for TSX:CCO:

  • Moat Score: 6
  • GF Value™: C$94.08 vs. price of C$139.59 (48.4% above fair value)
  • GF Score™: 89/100 with 3 warning signs

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 Business Description

Address 11th Street West, Suite 2121, Saskatoon, SK, CAN, S7M 1J3
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.
89GF Score

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C$139.59
Price
C$94.08
GF Value