National Atomic Company (KAP) Fair Value & Analysis
Energy · GB · Market cap $764B · ISIN US63253R2013
What is National Atomic Company really worth?
A solid business, but trading 15% above our fair value of $65.89.
Strengths
Risks
Fair value as of: Aug 30, 2026
From 26 valuation models · updated 6 days ago
Share price +9.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide ($49.41 to $137.84). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range $17.99 – $91.20 · fair‑value band $49.41 – $137.84 · the $76.00 price screens above the $65.89 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
National Atomic Company (KAP) currently trades at $76.00, while our model-based Fair Value estimate is $65.89, implying the stock looks roughly 15.3% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Energy sector. Bull case: the Dividend Discount group reads highest at a median of $545.97 per share, and 26 of the 26 models we run sit above the $76.00 price. Bear case: the Asset-Based group reads lowest at $155.15, and 0 of the 26 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, National Atomic Company generated revenue of $1.8T at a net margin of 31.6%. Revenue declined 9.5% year over year. It earns a return on equity of 25.9%. The balance sheet holds a net cash position of $139B. Fundamentals as of Aug 30, 2026
Our scenario range runs from $49.41 (bear case) to $137.84 (bull case); at $76.00, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 18% below its 52-week high and 104% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at −66% fair-value upside, at −13%, KAP screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $3.17 per share, which is 4.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models ($1,311) versus Asset-Based ($155.15). Highest evidence: FCF DCF (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 67
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
National Atomic Company Kazatomprom JSC explores for, produces, processes, markets, and sells uranium and uranium related products. The company operates through two segments, Uranium and Ulba Metallurgical Plan. It also processes rare metals; and manufactures and sells beryllium, tantalum, and niobium products.
Full company description
National Atomic Company Kazatomprom JSC explores for, produces, processes, markets, and sells uranium and uranium related products. The company operates through two segments, Uranium and Ulba Metallurgical Plan. It also processes rare metals; and manufactures and sells beryllium, tantalum, and niobium products. In addition, the company provides communication and security services, and semiconductor materials. Further, it offers research, project, development, and engineering consulting services; scientific support; and procurement and transportation services, as well as monitors radiation level and environment conditions. Additionally, the company is involved in the commercial, investment, and administration of finances, goods, and rights; and provision of research, project, development, and engineering consulting services. It operates in Kazakhstan, China, the Russian Federation, Canada, France, the United Kingdom, the United States, Jersey, Cayman Islands, the United Arab Emirates, and internationally. National Atomic Company Kazatomprom JSC was founded in 1997 and is headquartered in Astana, Kazakhstan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
National Atomic Company reported revenue of 1.8T KZT in FY2025 versus 691B KZT in FY2021, a compound +26.2%/yr. Reported net income was 555B KZT in FY2025, compounding +26.0%/yr from FY2021.
of which total revenue +18.3 % · buybacks/dilution +0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
KAP screens 15% overvalued. Compare with China National Uranium Co →
Peer Group
Uranium · 26 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Uranium median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Uranium stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China National Uranium Co 001280 | ¥63.29 | ¥16.71 | −74% |
| NexGen Energy Ltd NXE | $9.93 | $1.03 | −90% |
| Sprott Physical Uranium Trust Fund UU | $18.61 | $29.76 | +60% |
| Centrus Energy Corp LEU | $170.46 | $58.25 | −66% |
| CGN Mining Company 1164 | HK$2.87 | HK$1.01 | −65% |
| Deep Yellow Limited DYL | A$1.75 | A$0.3000 | −83% |
| IsoEnergy Ltd ISO | C$15.59 | C$1.59 | −90% |
| Bannerman Energy Ltd BMN | A$3.63 | A$3.63 | +0% |
| Uranium Royalty Corp UROY | $4.44 | $1.62 | −64% |
| Boss Energy Limited BOE | A$1.53 | A$0.3600 | −76% |
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