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Terrestrial Energy
(NASDAQ:IMSR)
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Rating:51Neutral
Price Target:
$5.50
▲(2.61% Upside)
Action:Reiterated
Date:08/19/26
The score is held down primarily by weak financial performance (minimal revenue, large losses, and sustained cash burn). Technicals are neutral-to-soft with the stock below key longer-term moving averages. These are partially offset by a relatively positive earnings-call outlook highlighting regulatory progress and improved projected unit economics, while valuation remains hard to justify given negative earnings and no dividend yield.
Positive Factors
Regulatory Progress
The NRC safety evaluation report adds a foundational licensing element that can be referenced in future applications. This reduces a key development barrier and supports a more repeatable regulatory pathway for eventual IMSR commercialization.
Negative Factors
Pre-Commercial Financial Profile
The company remains pre-commercial, with negligible revenue relative to its expense base and persistent operating losses. Until reactor deployment or other meaningful revenue begins, profitability depends on successful commercialization rather than an established operating franchise.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory Progress
The NRC safety evaluation report adds a foundational licensing element that can be referenced in future applications. This reduces a key development barrier and supports a more repeatable regulatory pathway for eventual IMSR commercialization.
Read all positive factors
Terrestrial Energy (IMSR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$591.12M
Dividend YieldN/A
Average Volume (3M)1.97M
Price to Earnings (P/E)―
Beta (1Y)1.03
Revenue GrowthN/A
EPS Growth-351.78%
CountryUS
Employees74
SectorGeneral
Sector StrengthN/A
IndustryRegulated Electric
Share Statistics
EPS (TTM)-0.46
Shares Outstanding105,935,260
10 Day Avg. Volume1,997,923
30 Day Avg. Volume1,969,846
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)1.48
Price to Sales (P/S)0.00
P/FCF Ratio-24.85
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$15.00Price Target Upside179.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.66
Revenue Forecast (FY)N/A
Terrestrial Energy Business Overview & Revenue Model
Company Description
Terrestrial Energy Inc. produces carbon free nuclear energy in North Carolina. It offers Pre-construction services, such as site selection and site and use-specific engineering studies for construction and licensing planning preparation; construct...
How the Company Makes Money
null...
Terrestrial Energy Earnings Call Summary
Earnings Call Date:Aug 11, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Apr 05, 2027
Earnings Call Sentiment Positive
The call conveyed meaningful technical and commercial progress (NRC topical approvals, DOE-backed TETRA/TEFLA advancement, improved unit economics and a larger addressable market, strategic partnerships including Riot, and a solid cash position). These positives were balanced by expected higher near-term spending, some timing variability in testing and R&D, regulatory and supply-chain steps still to complete (UF4/fuel-salt production and liquid-fuel qualification), and limited specificity on near-term milestones and financing for first commercial plants. On balance, the highlights — notably stronger unit economics, regulatory approvals, DOE partnerships, and commercial pipeline growth — outweigh the lowlights, though execution and funding risk remain important near-term considerations.Positive Updates
Regulatory Progress — NRC Safety Evaluation Report Approval
On May 12 the NRC issued a safety evaluation report approving the topical report on postulated initiating events; this follows earlier NRC approval of IMSR principal design criteria, creating foundational licensing elements that can be referenced in future applications.
Negative Updates
Increasing Near-Term Spend and Planned H2 2026 Acceleration
Management expects increased spending in the second half of 2026 as testing programs, site characterization (RELLIS) and organizational expansion scale up; this will raise cash burn over calendar 2026 despite sequential reductions in Q2.
Read all updates
Q2-2026 Updates
Positive
Negative
Regulatory Progress — NRC Safety Evaluation Report Approval
On May 12 the NRC issued a safety evaluation report approving the topical report on postulated initiating events; this follows earlier NRC approval of IMSR principal design criteria, creating foundational licensing elements that can be referenced in future applications.
Read all positive updates
Company Guidance
Management reiterated March guidance across its three execution pillars and updated unit economics: cumulative lifetime revenues per plant are now $2.7 billion (from $2.1B) with a blended gross margin of 33% (vs. 22%), of which core‑unit supply is 58% (~$1.6B over a 56‑year plant life via 16 core replacements every 7 years) and fuel‑salt supply 21% (40% gross margin); 79% of revenues occur post‑construction. They raised the serviceable addressable market to $2.3 trillion by 2050 (from $1.9T, +$400B) and report an indicative commercial pipeline of 7.8 GW including a Riot Platforms pairing targeting 4 GW; the IMSR plant is 390 MWe, 585°C operating temperature and 56‑year design life. Engineering and regulatory milestones advanced: DOE‑backed TETRA and TEFLA progressed, NRC issued an SER for the postulated initiating events topical report (following the principal design criteria SER) and at least two further topical submissions are expected. Financially, cash and investments were $283.4M at quarter end (down from $289.9M), quarterly cash burn was $6.4M (~$2.2M/mo) vs. $7.9M (~$2.6M/mo) in Q1 with H2 spending set to increase; R&D was down ~$1.1M QoQ (timing/added three graphite irradiation cycles at NRG Petten), G&A up ~$700k (stock‑based comp +$500k), and fully diluted shares rose ~300k; company also secured a 77‑acre exclusive RELLIS lease and added EVP Engineering Pam Cowan and director Kathryn McCarthy.Terrestrial Energy Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 0.00 | 0.00 | 248.36K | 18.61K |
| Gross Profit | -1.37M | 0.00 | 248.36K | 18.61K |
| EBITDA | -45.72M | -22.50M | -8.90M | -11.90M |
| Net Income | -49.21M | -28.02M | -11.49M | -13.91M |
Balance Sheet | ||||
| Total Assets | 289.87M | 302.98M | 5.33M | 7.89M |
| Cash, Cash Equivalents and Short-Term Investments | 273.52M | 297.79M | 3.02M | 4.60M |
| Total Debt | 3.88M | 2.07M | 16.98M | 10.97M |
| Total Liabilities | 8.21M | 7.57M | 18.82M | 12.77M |
| Stockholders Equity | 281.65M | 295.41M | -13.49M | -5.41M |
Cash Flow | ||||
| Free Cash Flow | -31.94M | -17.61M | -8.87M | -10.27M |
| Operating Cash Flow | -30.72M | -16.47M | -8.20M | -9.16M |
| Investing Cash Flow | -152.19M | -200.64M | -662.27K | -1.10M |
| Financing Cash Flow | 311.53M | 311.39M | 7.25M | 10.13M |
Terrestrial Energy Technical Analysis
5.36
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMSR, the sentiment is undefined. The current price of 5.36 is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of ― indicates undefined momentum. The RSI at ― is undefined, neither overbought nor oversold. The STOCH value of ― is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a undefined sentiment for IMSR.
Terrestrial Energy Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $45.74B | 16.22 | 9.61% | 3.45% | 6.56% | 3.72% | |
60 Neutral | $58.87B | 23.16 | 8.89% | 3.76% | 21.98% | -0.39% | |
59 Neutral | $49.57B | 27.08 | 10.41% | 2.17% | 10.19% | -2.59% | |
58 Neutral | $175.68B | 18.84 | 16.82% | 2.65% | 11.83% | 55.48% | |
57 Neutral | $15.22B | 2.85 | 16.03% | 4.33% | -1.36% | 22.18% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | $591.12M | -12.74 | -18.00% | ― | ― | -351.78% |
* General Sector Average
IMSR
Terrestrial Energy
5.36
-6.41
-54.46%
D
Dominion Energy
66.91
9.63
16.81%
ETR
Entergy
107.23
21.24
24.70%
EXC
Exelon
44.44
1.83
4.29%
KEP
Korea Electric Power
12.24
-1.25
-9.27%
NEE
NextEra Energy
84.22
13.62
19.29%
Terrestrial Energy Corporate Events
Executive/Board Changes
Terrestrial Energy Announces Routine Board Director Resignation
Neutral
Jul 31, 2026
On July 27, 2026, Terrestrial Energy Inc. announced that Shawn Matthews resigned from its Board of Directors, effective the same day. The company stated that his departure was not due to any disagreement related to its operations, policies or prac...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Terrestrial Energy Adds Veteran Director, Sets Q2 Earnings Date
Positive
Jul 28, 2026
Terrestrial Energy Inc., a developer of Generation IV small modular nuclear plants using its proprietary Integral Molten Salt Reactor technology, is positioning its IMSR plants to provide modular, high-temperature industrial heat and electricity f...
Business Operations and StrategyRegulatory Filings and Compliance
Terrestrial Energy Updates Investors on Nuclear Growth Strategy
Positive
Jul 21, 2026
On July 21, 2026, Terrestrial Energy Inc. made its latest investor presentation available on its investor relations website and furnished it with a current report filing. The presentation provides an overview of the company’s business, risk ...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Terrestrial Energy Announces Upcoming Departure of Chief Counsel
Negative
Jul 17, 2026
Terrestrial Energy Inc. has announced that the employment of Steven Millsap, who serves as General Counsel, Secretary and Chief Compliance Officer, will end effective September 12, 2026. The scheduled departure of such a key legal and compliance e...
Executive/Board ChangesShareholder Meetings
Terrestrial Energy Shareholders Back Directors and Auditor Slate
Positive
Jun 12, 2026
On June 11, 2026, Terrestrial Energy Inc. held its 2026 Annual Meeting of Stockholders, where investors voted on board composition and other governance matters. Shareholders elected three nominees, Frederick Buckman, William Johnson and Hugh MacDi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.