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How Cameco (CCJ) makes money
Cameco (CCJ) made $3.5B of revenue in the fiscal 2025 (FY2025), +11% from a year earlier. Of every dollar of revenue, 28¢ was left as gross profit, 18¢ was left as operating profit, 17¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | FY2025 | % of revenue |
|---|---|---|
| Revenue | $3.5B | 100.0% |
| Cost of revenue | $2.5B | 72.1% |
| Gross profit | $970M | 27.9% |
| Operating expenses | $352M | 10.1% |
| Operating profit | $618M | 17.8% |
| Income tax | $188M | 5.4% |
| Net earnings | $590M | 16.9% |
| Operating cash flow | $1.4B | 40.4% |
| Free cash flow | $1.1B | 30.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| FY2025 | $3.5B | +11% |
| FY2024 | $3.1B | +21% |
From Cameco's 40-F filed Mar 19, 2026 (on EDGAR).
Questions
How does Cameco make money?
Cameco (CCJ) made $3.5B of revenue in the fiscal 2025 (FY2025), +11% from a year earlier. Of every dollar of revenue, 28¢ was left as gross profit, 18¢ was left as operating profit, 17¢ was left as net earnings.
What is Cameco's profit margin?
Net earnings were $590M, 16.9% of revenue, in the fiscal 2025; the operating margin was 17.8%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.