Though nuclear energy has grown to provide about 9 per cent of the world’s electricity, and currently represents the most reliable source of carbon-free power at scale, far greater amounts are needed to stem the effects of climate change and achieve planet-wide sustainability. However, large and costly infrastructure, the chief limitation to this growth, makes widespread coverage economically unfeasible.
This is where the small modular nuclear reactor (SMR) steps into frame, offering clean energy both on and off-grid up to 300 megawatts of electricity (MWe) per unit, about one third the capacity of a full-sized reactor, with the added benefit of transportable components and considerable savings in construction and operating costs. This is in addition to:
- The ability to deploy SMRs incrementally based on market demand.
- Simple designs compared to legacy reactors, integrating passive safety systems based on natural circulation, convection, gravity and self-pressurization, that enable automatic shutdowns in the case of emergency.
- Reduced fuel requirements, calling for refueling every 3 to 7 years, compared to every 1 to 2 years for conventional nuclear plants.
These benefits are made even more flexible thanks to microreactors, generating up to 10 MWe per unit, suitable for more remote communities and businesses where backup power often comes in the form of diesel generators.
As a whole, these use-cases represent a US$7.49 billion market in 2025 expected to more than double to US$16.13 billion by 2034.
As global emissions continue to rise, the green energy transition is then incentivizing technology companies to develop smaller-scale nuclear solutions to displace fossil fuel, especially in areas where it is currently the only viable option.
Let’s delve into three stocks worth considering to put this thesis in play, each of which pairs differentiated nuclear reactor technology with solid income statements in support of your long-term conviction.
NuScale Power
Our first stock to watch is NuScale Power, market capitalization US$10.15 billion, a top global developer of small modular nuclear reactors, whose flagship NuScale Power Module can generate up to 77 MWe or 250 MW thermal (gross), with scalable configurations up to 12 units or 924 MWe.
The company’s SMR, the only one certified by the U.S. Nuclear Regulatory Commission, currently has 12 units in production positioned for near-term deployment under an exclusive partnership with ENTRA1 Energy, under which the companies will build NuScale-powered nuclear plants and market the SMRs across relevant industries, including petrochemical plants, AI data centers, hydrogen production and mission-critical applications.
Backed by an established manufacturing ecosystem with 29 suppliers, as well as a first-mover advantage when it comes to US regulatory approval, NuScale believes that it will secure a firm reactor order by the end of 2025, allowing it to ramp up revenue, enhance pricing power through greater scale and advance on its path to profitability as rising electricity demand foster greater nuclear capacity into the next decade (see slide 7 of the company’s latest investor presentation).
The company has increased revenue by 13x from 2021 to 2024 driven by engineering and design work for a new power plant in Romania, with funds still coming in as per Q2 2025 results, painting a prospective picture on the road to the first reactors becoming operational.
NuScale stock (NYSE:SMR) has reflected this optimism, adding 89.32 per cent year-over-year and 251.73 per cent since 2020, last trading at US$35.63.
GE Vernova
Second up is GE Vernova, market capitalization US$148.67 billion, an energy company active in the power, wind and electrification segments in 100 countries around the world. The company generated US$9.96 billion in revenue in Q3 2025, up from US$8 billion in Q1 2025, with net income of US$452 million, marking four straight quarters of bottom-line profitability.
Backed by more than 65 years of experience in the nuclear industry, GE Vernova is developing the BWRX-300 small nuclear reactor, a 300 MWe unit designed to operate for 60 years using cost-effective boiling water technology at a plant site 90 per cent smaller than conventionally required. Each reactor comes equipped with passive safety systems and can be built in 2-3 years.
The first of four planned BWRX-300s is under construction in Bowmanville, Ontario, and slated to become operational in 2030, when it will be capable of powering about 250,000 homes at full capacity.
GE Vernova’s full line of reactors, including larger and sodium fast models, generates 200,000 megawatts of carbon-free power every day.
GE Vernova stock (NYSE:GEV) last traded at US$547.96 and has added 93.53 per cent year-over-year.
BWX Technologies
Last in our look at small nuclear reactor stocks is BWX Technologies, market capitalization US$18.32 billion, which tracks one of the top global manufacturers and engineers of nuclear solutions across the security, clean energy, medicine, space exploration and environmental restoration industries.
Operations delivered US$866.3 million in revenue in Q3 2025, up from US$672 million year-over-year (YoY), with net income of US$82.2 million, up from US$69.6 million YoY, in the midst of what president and chief executive officer Rex D. Geveden describes in the Q3 news release as unprecedented demand for nuclear solutions.
The company’s Q3 results put it on track for four straight years of increasingly positive net income and more than five consecutive years of revenue growth, serving as a testament to its value-added technologies.
In the realm of nuclear reactors, BWX is active on two main projects. The first concerns its upcoming BANR microreactor, which was developed under the U.S. Department of Energy’s Advanced Reactor Demonstration Program, and is capable of delivering 50 MW of thermal power to remote areas or for the purposes of industrial heat generation.
The passively-cooled reactor uses TRISO-coated uranium particles, offering more resistance to irradiation, corrosion and high temperatures compared to conventional fuels, and is designed for integrated system testing before full assembly, lowering the cost of scaling operations.
BWX complements its in-house reactor with a C$1 billion contract with Ontario Power Generation signed in January 2025, including the manufacturing of the reactor pressure vessel for GE Vernova’s aforementioned BWRX-300 reactor.
Bolstered by a record backlog of US$7.4 billion, up 119 per cent YoY, Geveden expects BWX to close out the year and welcome 2026 with more profitable growth, with the company’s preliminary 2026 outlook estimating a low-double-digit to low-teens increase in adjusted EBITDA.
BWX Technologies stock (NYSE:BWXT) last traded at US$200.39 and has added 71.35 per cent year-over-year.
As always, take care to evaluate these nuclear reactor stocks in line with your financial goals, risk tolerance, investment knowledge and current financial situation, optimizing the probability of your due diligence being fruitful and your returns differentiated.
Join the discussion: Find out what investors are saying about these modular nuclear reactor stocks on the NuScale Power Corp., GE Vernova Inc. and BWX Technologies Inc. Bullboards and make sure to explore the rest of Stockhouse’s stock forums and message boards.
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