National Atomic Company (KAP) fair value: what the stock is really worth
We calculate from audited financials what National Atomic Company is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range $17.99 – $91.20 · fair‑value band $64.65 – $168.21 · the $70.50 price screens below the $106.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
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.
Show more
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.
Stock analysis
National Atomic Company (KAP) currently trades at $70.50, while our model-based Fair Value estimate is $106.03, implying the stock looks roughly 33.5% undervalued today.
Show more
Valuation
Bull case: the Earnings-Based group reads highest at a median of $972.27 per share, and 26 of the 26 models we run sit above the $70.50 price.
Bear case: the Asset-Based group reads lowest at $143.92, and 0 of the 26 models stay below the price. Evidence for this calculation is medium.
Scenario range: $64.65 (bear) to $168.21 (bull), the price of $70.50 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap $764B · P/E ratio 0.1 · P/S ratio 0.02 · EPS (TTM) $4.13 · Net margin 31.6% · Return on equity 25.8% · Return on assets (EBIT) 21.4% · Revenue (TTM) $1.8T.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (medium confidence).
What moves the price
The share trades about 24% below its 52-week high and 90% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −74% fair-value upside, at 50%, KAP screens cheaper than that median.
Fair Value models
Bear $64.65Fair Value $106.03Bull $168.21
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then ($3.28 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−3.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.4%
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.2%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+23.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.9%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.24% vs 31%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.46% → 43%
Compare National Atomic Company with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer Groupⓘ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.Uranium · 25 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "National Atomic Company Fair Value". https://www.fairvalue-calculator.com/stock/KAP.LSE
Frequently asked questions
Is National Atomic Company (KAP) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of $106.03 versus a price of $70.50, about +50% upside (undervalued).
What is the fair value of KAP?
Our model-based fair value for National Atomic Company is $106.03 (as of Sep 13, 2026), built from audited fundamentals. The current price: $70.50.
What is the quality score of KAP?
National Atomic Company has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for National Atomic Company (KAP)?
Our model-based price target is the fair value of $106.03 (as of Sep 13, 2026) from 26 valuation models. Cautious scenario $64.65, optimistic scenario $168.21. It is a calculation from audited fundamentals, not an analyst target.
What is the National Atomic Company stock forecast for 2026?
Our models put fair value at $106.03, about +50% upside versus a price of $70.50 (undervalued). Cautious scenario $64.65, optimistic scenario $168.21. The calculation is refreshed regularly with new filings.
What is the revenue of National Atomic Company (KAP)?
National Atomic Company reported trailing-twelve-month revenue of about $1.8T (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of National Atomic Company (KAP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For National Atomic Company it is $106.03 per share (as of Sep 13, 2026), against a price of $70.50. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is National Atomic Company stock overvalued or undervalued in 2026?
As of Sep 13, 2026, KAP trades below its calculated fair value: price $70.50, fair value $106.03, a gap of about +50% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of KAP?
No. The price is what the market pays today ($70.50); the fair value is what the company's own numbers justify ($106.03). For National Atomic Company the two are $35.53 per share apart. That gap is exactly why we show both numbers side by side.
How much is National Atomic Company worth?
The market values National Atomic Company at about $764B (market capitalisation, as of Sep 13, 2026). Per share that is $70.50; our models calculate a fair value of $106.03 per share.
What do the bullish and bearish scenarios say about KAP?
Our models span a range for National Atomic Company: cautious scenario $64.65, base $106.03, optimistic $168.21 per share (as of Sep 13, 2026, price $70.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KAP?
National Atomic Company trades at a price-to-earnings ratio of 0.1 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $106.03 is built from several models across several years.
How solid is the balance sheet of National Atomic Company (KAP)?
Balance-sheet figures for National Atomic Company (as of Sep 13, 2026): return on equity 25.8%, debt of 0.02 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is KAP from its 52-week high?
National Atomic Company trades at $70.50, about 24% below its 52-week high of $93.00 and 90% above the low of $37.20 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of $106.03 is for.
Which stocks are comparable to National Atomic Company?
From the same area (Energy) we also value Cameco Corporation, China National Uranium Co, NexGen Energy Ltd, Sprott Physical Uranium Trust Fund, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is National Atomic Company stock attractive at the current price?
The data as of Sep 13, 2026: price $70.50, calculated fair value $106.03 (+50%), Quality Score 61/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of KAP calculated?
We run National Atomic Company through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $106.03, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.8 % above its aggregate fair value. National Atomic Company currently trades 50 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What should I pay attention to with National Atomic Company right now?
The model range is unusually wide ($64.65 to $168.21). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of National Atomic Company (KAP) come from?
Earnings per share at National Atomic Company grew +30.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +18.3 %, EBIT margin +11.8 %, tax rate −0.8 %, residual (interest, one-offs) −0.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of National Atomic Company
How large is the market capitalisation of National Atomic Company (KAP)?
The market capitalisation of National Atomic Company is $764B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of National Atomic Company (KAP)?
The price-to-sales ratio of National Atomic Company is 0.02 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of National Atomic Company (KAP)?
Earnings per share at National Atomic Company are $4.13 (price ÷ EPS = P/E 0.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of National Atomic Company (KAP)?
The net margin of National Atomic Company is 31.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of National Atomic Company (KAP)?
The return on equity (ROE) of National Atomic Company is 25.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of National Atomic Company (KAP)?
On an EBIT basis the return on assets of National Atomic Company is 21.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How fast is revenue growing at National Atomic Company (KAP)?
Revenue at National Atomic Company is growing −28.1% versus a year earlier (3y avg +20.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at National Atomic Company (KAP)?
Earnings per share at National Atomic Company are growing −42.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does National Atomic Company (KAP) generate?
The free cash flow of National Atomic Company is $695B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does National Atomic Company (KAP) hold?
National Atomic Company holds more cash than debt, $139B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Continue in the live analysis
Fair value and trend for 35,000+ stocks, watchlist, comparison and the diversification check. You can also try 14 days of Pro there, no card.
