Centrus Energy vs Solaris Energy Infrastructure

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KIRA’s take AI analyst

I put Centrus Energy and Solaris Energy Infrastructure side by side, using each one’s latest annual report. Here is what stands out:

Solaris Energy Infrastructure is the larger business, with $622M of revenue in fiscal 2025 against $449M for Centrus Energy.
Solaris Energy Infrastructure grew revenue faster (98.7%, against 1.5%).
Solaris Energy Infrastructure kept more of each dollar of sales as operating profit (21.8% operating margin, against 11.2%).
Centrus Energy turned more of its sales into free cash flow (7.0% FCF margin, against −70.3%).

Who comes out ahead

Of the 7 measures where higher (or lower) is clearly better, how many each company leads.

Centrus Energy

LEU

4/7

Net marginFCF marginReturn on equityNet debt / EBITDA

Solaris Energy Infrastructure

SEI

3/7

Revenue growth5-year growthOperating margin

Side by side

Best in the row

Latest fiscal year	LEU FY25	SEI FY25
Size
Market cap	$2.2B	—
Revenue	$449M	$622M
Free cash flow	$31.3M	−$438M
Net income	$77.8M	$30.2M
Growth
Revenue growth	1.5%	98.7%
5-year growth	12.7%	43.3%
Share count change	21.7%	—
Profitability
Gross margin	26.2%	—
Operating margin	11.2%	21.8%
Net margin	17.3%	4.9%
FCF margin	7.0%	−70.3%
Return on capital	—	14.1%
Return on equity	16.8%	6.6%
Balance sheet
Net debt	−$782M	−$165M
Net debt / EBITDA	−13.0x	−0.8x
Dividends and buybacks	$0.0M	$21.8M
Valuation & quality
P/E	47.7x	—
Piotroski F-score	4	—

Ten years

Revenue

FY16

LEU $311M

SEI $18.2M

FY17

LEU $218M

SEI $67.4M

FY18

LEU $193M

SEI $197M

FY19

LEU $210M

SEI $242M

FY20

LEU $247M

SEI $103M

FY21

LEU $298M

SEI $159M

FY22

LEU $294M

SEI $320M

FY23

LEU $320M

SEI $293M

FY24

LEU $442M

SEI $313M

FY25

LEU $449M

SEI $622M

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

LEU SEI

Operating margin

FY16

LEU −19.8%

SEI 15.8%

FY17

LEU −20.5%

SEI 37.8%

FY18

LEU −47.9%

SEI 50.4%

FY19

LEU −9.4%

SEI 44.7%

FY20

LEU 20.6%

SEI −58.2%

FY21

LEU 22.9%

SEI −0.2%

FY22

LEU 20.3%

SEI 13.1%

FY23

LEU 16.4%

SEI 17.0%

FY24

LEU 10.9%

SEI 16.9%

FY25

LEU 11.2%

SEI 21.8%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

LEU SEI

Free cash flow

FY16

LEU $34.7M

SEI −$6.4M

FY17

LEU −$16.6M

SEI −$67.2M

FY18

LEU −$74.5M

SEI −$44.7M

FY19

LEU $11.2M

SEI $80.0M

FY20

LEU $65.7M

SEI $39.2M

FY21

LEU $48.8M

SEI −$3.2M

FY22

LEU $19.9M

SEI −$13.4M

FY23

LEU $7.5M

SEI $25.0M

FY24

LEU $32.9M

SEI −$129M

FY25

LEU $31.3M

SEI −$438M

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

LEU SEI

Return on capital

FY16

LEU —

SEI —

FY17

LEU —

SEI —

FY18

LEU —

SEI —

FY19

LEU —

SEI —

FY20

LEU —

SEI —

FY21

LEU —

SEI —

FY22

LEU —

SEI —

FY23

LEU —

SEI —

FY24

LEU —

SEI 6.8%

FY25

LEU —

SEI 14.1%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

LEU SEI

Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.