Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Cameco's operating assets for the quarter that ended in Mar. 2026 was C$8,996 Mil. Cameco's operating liabilities for the quarter that ended in Mar. 2026 was C$2,044 Mil. Cameco's Total Assets for the quarter that ended in Dec. 2025 was C$10,301 Mil. Therefore, Cameco's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.67.
Cameco Scaled Net Operating Assets Related Terms
Cameco Scaled Net Operating Assets Historical Data
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The historical data trend for Cameco's Scaled Net Operating Assets 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.
TSX:CCO vs UEC, LEU: Scaled Net Operating Assets Comparison
For the Uranium subindustry, Cameco's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Cameco's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Cameco's Scaled Net Operating Assets 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.
What does a Scaled Net Operating Assets of 0.67 mean?
Cameco (TSX:CCO) has a Scaled Net Operating Assets of 0.67 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Cameco and its competitors.
Is Cameco's Scaled Net Operating Assets too high?
Cameco's current Scaled Net Operating Assets is 0.67. 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 Scaled Net Operating Assets compare to UEC and LEU?
Cameco's Scaled Net Operating Assets of 0.67 can be compared against companies in the Other Energy Sources industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for an Other Energy Sources company?
A good Scaled Net Operating Assets depends on the Other Energy Sources industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Cameco and its competitors. Cameco's current Scaled Net Operating Assets is 0.67. 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$94.82, compared to a current price of C$144.56 — trading 52.5% above its estimated fair value. The current Scaled Net Operating Assets is 0.67. Cameco's overall GF Score™ is 86/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Cameco (TSX:CCO), the current Scaled Net Operating Assets is 0.67 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$144.56 is trading 52.5% above its estimated GF Value™ of C$94.82.
GuruFocus considers Cameco to be Significantly Overvalued.
Key valuation signals for TSX:CCO:
Scaled Net Operating Assets: 0.67
GF Value™: C$94.82 vs. price of C$144.56 (52.5% above fair value)
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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