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Side-by-side financial comparison of NUSCALE POWER Corp (SMR) and Viper Energy, Inc. (VNOM), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Viper Energy, Inc. is the larger business by last-quarter revenue ($393.0M vs $1.8M, roughly 217.4× NUSCALE POWER Corp). Viper Energy, Inc. runs the higher net margin — -2811.3% vs -19.6%, a 2791.7% gap on every dollar of revenue. On growth, Viper Energy, Inc. posted the faster year-over-year revenue change (88.0% vs -94.7%).
NuScale Power Corporation is a publicly traded American company that designs and markets small modular reactors (SMRs). It is headquartered in Tigard, Oregon. The company's VOYGR power plant, which uses 50 MWe modules and scales to 12 modules, was the first SMR to be certified by the US Nuclear Regulatory Commission (NRC) (2022). The newer 77 MWe module designs, known as the VOYGR-4 and VOYGR-6, were submitted for NRC review on January 1, 2023, and approved May 29, 2025. NuScale is now seekin...
Commonwealth Fusion Systems (CFS) is an American fusion power company founded in 2018 in Cambridge, Massachusetts, after a spin-off from the Massachusetts Institute of Technology (MIT). Its stated goal is to build a small fusion power plant based on the ARC tokamak design. It has participated in the United States Department of Energy’s INFUSE public-private knowledge innovation scheme with several national labs and universities.
SMR vs VNOM — Head-to-Head
Income Statement — Q4 2025 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $1.8M | $393.0M |
| Net Profit | $-50.8M | $-77.0M |
| Gross Margin | -3.4% | — |
| Operating Margin | -4022.2% | -44.8% |
| Net Margin | -2811.3% | -19.6% |
| Revenue YoY | -94.7% | 88.0% |
| Net Profit YoY | 32.2% | -257.1% |
| EPS (diluted) | $-0.08 | $-0.52 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $1.8M | — | ||
| Q3 25 | $8.2M | $393.0M | ||
| Q2 25 | $8.1M | — | ||
| Q1 25 | $13.4M | — | ||
| Q4 24 | $34.2M | — | ||
| Q3 24 | $475.0K | $209.0M | ||
| Q2 24 | $967.0K | — | ||
| Q1 24 | $1.4M | — |
| Q4 25 | $-50.8M | — | ||
| Q3 25 | $-273.3M | $-77.0M | ||
| Q2 25 | $-17.6M | — | ||
| Q1 25 | $-14.0M | — | ||
| Q4 24 | $-75.0M | — | ||
| Q3 24 | $-17.5M | $49.0M | ||
| Q2 24 | $-27.6M | — | ||
| Q1 24 | $-16.6M | — |
| Q4 25 | -3.4% | — | ||
| Q3 25 | 32.9% | — | ||
| Q2 25 | 22.1% | — | ||
| Q1 25 | 52.4% | — | ||
| Q4 24 | 91.1% | — | ||
| Q3 24 | 37.9% | — | ||
| Q2 24 | 12.1% | — | ||
| Q1 24 | 46.7% | — |
| Q4 25 | -4022.2% | — | ||
| Q3 25 | -6532.9% | -44.8% | ||
| Q2 25 | -534.9% | — | ||
| Q1 25 | -264.1% | — | ||
| Q4 24 | -34.6% | — | ||
| Q3 24 | -8635.6% | 65.1% | ||
| Q2 24 | -4330.7% | — | ||
| Q1 24 | -3188.8% | — |
| Q4 25 | -2811.3% | — | ||
| Q3 25 | -3316.2% | -19.6% | ||
| Q2 25 | -219.0% | — | ||
| Q1 25 | -104.7% | — | ||
| Q4 24 | -219.1% | — | ||
| Q3 24 | -3675.6% | 23.4% | ||
| Q2 24 | -2855.9% | — | ||
| Q1 24 | -1201.7% | — |
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $-1.85 | $-0.52 | ||
| Q2 25 | $-0.13 | — | ||
| Q1 25 | $-0.11 | — | ||
| Q4 24 | $-0.77 | — | ||
| Q3 24 | $-0.18 | $0.52 | ||
| Q2 24 | $-0.31 | — | ||
| Q1 24 | $-0.21 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $53.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $4.6B |
| Total Assets | $1.4B | $13.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $1.3B | — | ||
| Q3 25 | $691.8M | $53.0M | ||
| Q2 25 | $420.7M | — | ||
| Q1 25 | $521.4M | — | ||
| Q4 24 | $441.6M | — | ||
| Q3 24 | $156.6M | — | ||
| Q2 24 | $130.9M | — | ||
| Q1 24 | $132.0M | — |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $828.7M | $4.6B | ||
| Q2 25 | $692.9M | — | ||
| Q1 25 | $704.0M | — | ||
| Q4 24 | $618.7M | — | ||
| Q3 24 | $160.1M | $3.3B | ||
| Q2 24 | $136.3M | — | ||
| Q1 24 | $125.1M | — |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $883.1M | $13.7B | ||
| Q2 25 | $606.5M | — | ||
| Q1 25 | $618.1M | — | ||
| Q4 24 | $544.7M | — | ||
| Q3 24 | $253.3M | — | ||
| Q2 24 | $229.2M | — | ||
| Q1 24 | $229.8M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-203.7M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | — | — |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $-203.7M | — | ||
| Q3 25 | $-199.8M | — | ||
| Q2 25 | $-33.3M | — | ||
| Q1 25 | $-22.8M | — | ||
| Q4 24 | $-26.4M | — | ||
| Q3 24 | $-12.7M | — | ||
| Q2 24 | $-36.0M | — | ||
| Q1 24 | $-33.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | $-199.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-22.9M | — | ||
| Q4 24 | $-26.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -2425.1% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -170.9% | — | ||
| Q4 24 | -77.3% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.0% | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
SMR
Segment breakdown not available.
VNOM
| Oil Income | $332.0M | 84% |
| Natural Gas Liquids Income | $46.0M | 12% |
| Natural Gas Income | $15.0M | 4% |
