Solstice Advanced Materials Inc "Nuclear Deep Dive takeaways" (Neutral) Spector

研报英文原文证据摘录

Solstice Advanced Materials Inc "Nuclear Deep Dive takeaways" (Neutral) Spector

Global Research

4 June 2026ab

Solstice Advanced Materials Inc Equities

United StatesNuclear Deep Dive takeaways

Chemicals, Specialty

12-month rating Neutral

Well positioned in a tightening market

SOLS operates the only US-based based capacity for UF6 conversion, a critical step 12m price target US$88.00

in the nuclear fuel production cycle, which holds disproportionate value vs its ~5%

share of overall fuel cost. SOLS is confident in the opportunity facing this business,

Price (03 Jun 2026) US$86.60

which they expect to drive a DD% EBITDA growth CAGR through 2030, with

potential upside from capacity expansions being evaluated. This is consistent with RIC: SOLS.O BBG: SOLS US

what is in our model, and we provided a deeper dive review of scenarios (and

Trading data and key metrics

what's priced in) here - link.

52-wk range US$88.57-41.43

Market conditions are structurally favorable with limited new capacity planned, Market cap. US$13.8b

while nearing enforcement of US bans on Russian material will further curtail Shares o/s 159m (COM)

market supply. This falls against a constructive demand backdrop, with US nuclear Free float 100%

capacity expected to increase to 400MW by 2050 from 100MW currently. SOLS is Avg. daily volume ('000) 2,484

well positioned to serve this demand particularly as customers (and the Avg. daily value (m) US$191.9

US government) are increasingly focused on developing a domestic US supply

Common s/h equity (12/26E) US$1.70b

chain.

P/BV (12/26E) 8.1x

Realized pricing lags contract indices by 2-3 years, which should drive meaningful Net debt to EBITDA (12/26E) 1.2x

price accretion over the medium term. Contract prices have increased by $20/kgU

EPS (UBS, diluted) (USD)