01 / Equity research
Centrus Energy.
An investment thesis at the intersection of energy, policy, and technology.
Investment pitch
Group project · Team contributor
UNC Charlotte Investment Club
OVERVIEW
Prepared as a group project for the UNC Charlotte Investment Club, this presentation evaluates Centrus Energy (NYSE: LEU) through its uranium enrichment and technical services businesses. It examines advanced nuclear fuel in the context of energy demand, domestic supply policy, and the challenge of scaling production.
INSIDE THE PROJECT
Understand the business
Separate the core fuel business from technical services, and examine how contracts and backlog support the team’s investment thesis.
Evaluate the catalysts
Consider domestic enrichment capacity, government contracts, and the timing of advanced reactor demand.
Test the downside
Balance the thesis against execution risk, customer concentration, demand uncertainty, and supply-chain dependence.
KEY TAKEAWAY
A compelling investment story needs more than a growth forecast. The timing of revenue, the assumptions behind valuation, and the conditions that could invalidate the thesis matter just as much.
The original deck presents a $282 target and bear, base, and bull scenarios. These reflect the team’s April 2026 analysis, not current prices or a current recommendation.