Paladin Energy Ltd PDN

EnergyUraniumAustralia

Last close 7.19 CAD on Nov 2, 2026, −17.2% year to date

Quant rating

Quant rating D Rank 64 of 73 in Energy

Growth C 42 of 73
Valuation C 50 of 73
Quality B 25 of 73
Revisions D 62 of 73
Momentum D 71 of 73

Wall Street consensus Buy (1.87)Average target 12.31 CAD +71.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 3.3B
Enterprise value: 3.0B
52-week range: 6.67 – 14.40
3-year range: 3.45 – 14.40
Dividend yield: –
Beta (5 years): –
Shares outstanding: 449M
Next earnings: Feb 9, 2027

About the company

Paladin Energy Ltd is an Australia-based independent uranium producer with 75% ownership of the Langer Heinrich Mine (LHM) located in Namibia. The Company also owns a portfolio of uranium exploration and development assets in the mining jurisdictions of Canada and Australia. Its segments include Australia, Namibia and Canada. The LHM is located in central western Namibia, approximately 80 kilometers (km) east of Swakopmund and 85 km northeast of the Walvis Bay deepwater harbor. Its Patterson Lake South (PLS) Project hosts the Triple R deposit, a high-grade and near-surface uranium deposit. The property comprises over 49 claims covering approximately 57,622 hectares. It owns a number of greenfield exploration projects that are prospective for hosting high-grade uranium, including West Cluff, Larocque, Seahawk, Merlin, Corsair and Typhoon. Its projects also include Michelin (Labrador, Canada), Mount Isa and Manyingee projects in both Queensland and Western Australia.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	432	242	0	0	6.0	–
Revenue growth	78.7%	–	–	−100.0%	63.5%	159.1%
EPS (basic, normalized)	0.04	−0.17	−0.17	−0.05	−0.13	–
EPS growth	–	–	–	–	–	–
Gross margin	17.8%	−7.9%	–	–	0.1%	3.4%
Net margin	1.8%	−25.1%	–	–	−569.0%	−197.5%
ROE	0.5%	−6.5%	12.2%	−2.6%	−7.7%	−0.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	376
Current ratio	3.68x
Long-term debt (mil)	198
Net debt (mil)	−327
Total equity (mil)	1,644
Net debt / equity	−0.20x
Net debt / EBITDA	−3.40x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	432	+78.7%	7.0x	96.2	+195.2%	31.5x	0.04	+123.8%	172.7x
2027	596	+37.9%	5.1x	188	+95.5%	16.1x	0.18	+332.0%	40.0x
2028	740	+24.2%	4.1x	340	+80.6%	8.9x	0.38	+108.6%	19.2x
2029	774	+4.6%	3.9x	329	−3.0%	9.2x	0.34	−9.7%	21.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	596	−2.0%	−2.4%	−11.6%	0.18	−15.2%	−26.6%	−45.9%
2028	740	−1.1%	+0.9%	−1.9%	0.38	−2.9%	−8.5%	−13.5%
2029	774	−0.1%	−3.1%	−3.1%	0.34	−2.1%	−0.6%	−31.6%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	43.8	33.5	61.0	36.0	36.0	102	70.7	95.3
Sales mean (mil)	–	–	44.0	33.0	61.0	39.0	62.0	85.2	92.0	130
Surprise	–	–	−0.5%	+1.4%	0.0%	−7.8%	−42.0%	+20.1%	−23.1%	−26.7%
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	−0.05	–	0.01	–	0.02
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Uranium

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PDN Paladin Energy Ltd	3.3B	−3.40x	1.8%	2.07x	40.0x	19.2x	16.1x	8.9x
UEC Uranium Energy Corp.	5.2B	3.93x	−368.6%	2.71x	−38.1x	−64.7x	−55.4x	−196.7x
LEU Centrus Energy Corp.	2.7B	−11.50x	17.3%	2.24x	35.8x	26.4x	22.4x	13.9x
EFR Energy Fuels Inc.	2.7B	2.86x	−129.9%	2.32x	−27.7x	15.2x	−38.3x	12.7x
DML Denison Mines Corp	2.7B	−2.02x	−4,418.2%	9.31x	−22.2x	−38.5x	−44.2x	−61.3x
UROY Uranium Royalty Corp	1.7B	–	−36.3%	1.27x	32.5x	108.3x	–	–
Mean		−2.03x	−822.3%	3.32x	3.4x	11.0x	−19.9x	−44.5x
Median		−2.02x	−83.1%	2.28x	5.2x	17.2x	−38.3x	8.9x

Technical analysis

1M−21.5%
3M−21.3%
1Y−17.3%
3Y+6.5%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Paladin Energy Ltd, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	432	242	0	0	6.0	3.7
Cost of revenue	355	261	0	0	6.0	3.7
Gross profit	77.0	−19.1	0	0	0	0
Selling, general & administrative expenses	47.5	34.0	19.5	19.5	11.1	10.9
Research & development	–	–	–	–	–	–
Depreciation/amortization	0.9	0.6	8.6	3.6	19.4	18.7
Interest expense (income), operating	−8.3	−2.6	−0.5	−6.8	10.5	4.9
Unusual expense (income)	15.1	16.4	−126	0.7	0	0.4
Other operating expenses	−0.7	−1.7	−0.1	−0.2	−1.3	−3.0
Operating income	22.6	−65.8	98.6	−16.8	−39.8	−31.8
Net interest income (expense)	−18.7	−21.8	−7.2	−4.8	−4.1	−18.6
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−16.2	−14.8	−9.3	−14.2	−12.7	−21.6
Net income before taxes	−12.3	−102	82.1	−35.8	−56.6	−72.0
Provision for taxes	0.6	1.7	0	0	0	0.2
Minority interest	20.4	43.4	−8.7	21.8	22.1	17.7
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	7.6	−60.7	73.3	−14.0	−34.4	−54.5
Extraordinary items	–	–	–	–	–	0
Net income	7.6	−60.7	73.3	−14.0	−34.4	−54.5
EBIT, normalized	29.4	−52.0	−28.1	−22.9	−29.3	−26.6
EBITDA, normalized	59.0	−26.6	−19.3	−19.1	−9.5	−7.7
Basic EPS, normalized	0.04	−0.17	−0.17	−0.05	−0.13	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Paladin Energy Ltd, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	376	121	66.8	168	228	38.0
Receivables	67.6	76.0	10.9	3.6	6.5	2.5
Total inventory	180	142	171	7.5	6.6	6.3
Prepaid expenses	14.3	12.4	17.8	14.7	1.6	1.6
Other current assets	7.1	6.2	5.9	3.4	1.3	1.2
Total current assets	645	358	273	197	244	49.6
Property, plant & equipment	1,213	1,138	548	418	365	366
Goodwill	–	–	–	–	–	–
Intangibles	16.5	17.1	17.6	10.3	10.0	10.3
Long-term investments	0.7	0.6	0.6	–	0	16.0
Note receivable	1.1	1.4	0.3	0.5	0.2	5.9
Other long-term assets	63.1	16.9	11.4	0	0	0
Total assets	1,940	1,532	850	626	619	448
Liabilities
Accounts payable	68.5	38.9	20.7	12.0	2.8	2.8
Payable/accrued	–	–	–	–	–	–
Accrued expenses	3.7	2.4	1.1	0.4	0.4	0.7
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	22.2	29.3	46.0	0.2	0.1	0.1
Other current liabilities	80.9	70.5	0	0	0	0
Total current liabilities	175	141	67.8	12.7	3.3	3.5
Long-term debt	198	239	183	120	102	86.2
Minority interest	−171	−144	−101	−95.9	−70.3	−45.2
Other liabilities	93.4	61.3	55.7	50.4	52.2	52.1
Total liabilities	296	297	205	86.7	87.5	96.6
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	4,787	4,238	3,623	3,503	3,406	3,085
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	−2,885	−2,774	−2,723	−2,718	−2,637	−2,523
Treasury stock	–	–	–	–	–	–
Other equity	−259	−229	−255	−246	−237	−211
Total equity	1,644	1,235	645	539	532	351
Total liabilities & shareholders' equity	1,940	1,532	850	626	619	448

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Paladin Energy Ltd, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	–	–	–	–	–	–
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	9.7	5.0	−1.1	5.6	0.3	1.8
Cash from operations	53.6	−5.2	−65.8	−12.4	−8.7	−6.9
Investing activities
Capital expenditures	−69.7	−66.4	−11.1	−3.5	−1.5	−1.4
Other investing cash flows	−184	103	−118	−43.9	16.9	−1.4
Cash from investing	−254	36.2	−129	−47.4	15.4	−2.7
Financing activities
Financing cash flow items	−12.6	0	−5.6	0	−6.6	−62.4
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	297	19.9	95.7	0.1	209	63.9
Cash from financing	284	19.9	90.2	0.1	203	1.5
Foreign exchange effects	5.2	3.7	−1.3	−7.1	−20.8	3.7
Net change in cash	89.3	54.7	−106	−66.7	188	−4.4
Free cash flow	−16.1	−71.5	−76.9	−15.9	−10.3	−8.3

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.