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Oklo

OKLO NYSE Electric Utilities Financials FY2021–FY2025

Oklo reported revenue of $0 million in fiscal 2025. Free cash flow was −$115 million. The diluted share count rose 48.0%.

Last close · Oct 23, 2026

$26.35

2.4%
Value it Compare
Revenue Total sales reported in the income statement.
$0.0M
vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
−$106M
Free cash flow Cash from operations minus capital spending.
−$115M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$4.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
—

About these figures. Oklo has no revenue yet: it is building its first nuclear power plants, and its filings report operating costs only, so revenue is counted as zero.

What Oklo does

No business description yet.

Legal name
Oklo Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001628280-26-018698
0001849056

Revenue and margins

Oklo had $0.0M of revenue in fiscal 2025.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$115M in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Oklo returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 48.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Oklo yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 146.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Oklo can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $3.3M$3.6M$9.9M$228M$1.2B
Current ratio 13.5x2.7x4.4x43.5x49.1x
Quick ratio 13.5x2.7x4.4x43.5x49.1x
Total assets $505M$510M$14.9M$282M$1.5B
Total liabilities $17.9M$19.4M$49.2M$30.9M$52.2M
Shareholders' equity −$13.2M−$3.1M−$34.4M$251M$1.5B
Net debt (− = net cash) —————

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$5.8M

7 insiders

Of sales under plans

94%

$5.4M

DateInsiderTradeSharesPriceValueFiling
Oct 20, 2026 Vivek NarayanadasGeneral Counsel & Secretary Sold plan 1,021 $26.50 $0.0M Form 4
Oct 19, 2026 Vivek NarayanadasGeneral Counsel & Secretary Sold plan 2,359 $27.63 $0.1M Form 4
Oct 14, 2026 Alexandra RennerChief Product Officer Sold 688 $30.75 $0.0M Form 4
Oct 9, 2026 Vivek NarayanadasGeneral Counsel & Secretary Sold plan 364 $34.69 $0.0M Form 4
Sep 28, 2026 John HansonChief of Staff Sold 1,100 $37.39 $0.0M Form 4
Sep 28, 2026 William Carroll Murphy GoodwinChief Strategy Officer Sold 1,775 $37.39 $0.1M Form 4
Sep 14, 2026 John M JansenDirector Sold 6,354 $36.67 $0.2M Form 4
Sep 9, 2026 Vivek NarayanadasGeneral Counsel & Secretary Sold plan 365 $43.31 $0.0M Form 4
Sep 8, 2026 Vivek NarayanadasGeneral Counsel & Secretary Sold plan 238 $42.06 $0.0M Form 4
Sep 4, 2026 Vivek NarayanadasGeneral Counsel & Secretary Sold plan 538 $39.88 $0.0M Form 4
Sep 1, 2026 Jacob DeWitteCo-Founder, CEO, Director, 10% owner Sold plan 120,000 $38.59 $4.6M Form 4
Sep 1, 2026 Richard Craig BealmearChief Financial Officer Sold plan 16,430 $38.76 $0.6M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✕ ✕ ✕
Cash from operations is positive ✕ ✕ ✕
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets — — —
Current ratio rose ✓ ✓ ✓
Share count didn't rise — ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✕
F-score — / 9— / 9— / 9
Accruals ratio −6.2%−23.8%−2.6%
Altman Z'' −17.7710.9833.81

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Oklo OKLO $4.6B — — — — — —
American Electric Power AEP $71.0B 10.9% 24.3% −6.9% 6.7% 19.2x 7 Compare →
Constellation Energy CEG $91.2B 8.3% 12.1% 5.0% 10.4% 24.7x 5 Compare →
Duke Energy DUK $97.4B 5.6% 27.2% −5.3% 5.5% 19.1x 5 Compare →
Edison International EIX $22.2B 9.8% 36.7% −3.7% 9.8% 6.2x 6 Compare →

5 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY21FY22FY23FY24FY25
Income statement
Revenue $0.0M $0.0M $0.0M $0.0M $0.0M
Research and development — — $9.8M $26.7M $58.9M
Operating income −$1.2M −$1.8M −$18.6M −$52.8M −$139M
Interest expense — — $0.0M $0.0M —
Pretax income −$1.1M $5.4M −$32.2M −$72.9M −$110M
Income tax $0.0M $1.5M $0.0M $0.7M −$4.5M
Net income −$1.1M $3.9M −$32.2M −$73.6M −$106M
Diluted EPS — — −$0.47 −$0.74 −$0.72
Diluted shares — — 0.07B 0.10B 0.15B
Cash flow
Cash from operations −$1.9M −$1.0M −$16.0M −$38.4M −$82.2M
Capital expenditure — — $0.1M $0.4M $33.2M
Free cash flow — — −$16.1M −$38.7M −$115M
Depreciation and amortization — — $0.1M $0.3M $0.5M
Stock-based compensation — — $0.8M $12.5M $41.8M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.9M
Share buybacks $0.0M $0.0M $216M $0.0M $0.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $216M $0.0M $0.0M
Balance sheet
Cash and short-term investments $3.3M $3.6M $9.9M $228M $1.2B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $4.2M $4.0M $14.2M $232M $1.3B
Current liabilities $0.3M $1.5M $3.2M $5.3M $25.5M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net — — $0.6M $1.2M $42.3M
Total assets $505M $510M $14.9M $282M $1.5B
Total liabilities $17.9M $19.4M $49.2M $30.9M $52.2M
Shareholders' equity −$13.2M −$3.1M −$34.4M $251M $1.5B
Returns
Return on capital employed — −0.4% −7.2% −36.7% −15.7%
Return on equity — — — −68.0% −12.2%
Return on assets — 0.8% −12.3% −49.6% −11.7%
Growth
Net income growth — — −919.5% — —
Share count change — — — 43.6% 48.0%
Financial health
Current ratio 13.5x 2.7x 4.4x 43.5x 49.1x
Quick ratio 13.5x 2.7x 4.4x 43.5x 49.1x
Quality scores
Altman Z'' −0.8 −0.3 −17.8 11.0 33.8
Accruals ratio — 1.0% −6.2% −23.8% −2.6%

Source: SEC EDGAR XBRL filings (CIK 0001849056). Data updated October 13, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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