<p><strong>NuScale Power</strong>(SMR 12.17%) 处于核能行业的领先地位。它正在取得重要进展，朝着大规模生产小型模块化核反应堆的目标迈进。在一个越来越关注无碳能源的世界中，它正在为美好的未来做好准备。但并非每位投资者都适合投资。以下是购买该股票的原因以及不购买的原因。</p>
<h2>NuScale 正在缓慢迈向核能未来</h2>
<p>如今，核反应堆是巨大的基础设施资产，需要耗费巨额资金进行建设，并经过多年的努力才能投入运营。NuScale Power 正在努力颠覆这种低效的模式，提供在工厂建造并随后运送到需要的地方的小型模块化反应堆。</p>
<p>如果一个反应堆不够，它们可以连接在一起形成一个更大的反应堆。最终结果是提供成本更低、更灵活的核能产品，并带来更安全的运营。这就是为什么投资者喜欢这支股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTA1MjIvMjNfMTJfMTItYS1wZXJzb24taW4tYS1oYXJkLWhhdC1hbmQtc3VpdC1zdGFuZGluZy1pbi1mcm9udC1vZi1hLW51Y2xlYXItcG93ZXItcGxhbnQtX21mLWRsb2FkZ2V0dHlpbWFnZXMtNTE1MzA5NjEzLTEyMDB4ODAwLTViMmRmNzkuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTA1MjIvMjNfMTJfMTItYS1wZXJzb24taW4tYS1oYXJkLWhhdC1hbmQtc3VpdC1zdGFuZGluZy1pbi1mcm9udC1vZi1hLW51Y2xlYXItcG93ZXItcGxhbnQtX21mLWRsb2FkZ2V0dHlpbWFnZXMtNTE1MzA5NjEzLTEyMDB4ODAwLTViMmRmNzkuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<p>更吸引人的是其资产负债表上没有债务，且拥有 1.36 亿美元现金。换句话说，它在一个强劲的财务状况下运作。此外，NuScale Power 的最大股东是 <strong>Fluor</strong>(FLR 2.21%)，一家大型建筑公司。</p>
<p>显然，Fluor 支持 NuScale 有其自身的动机，比如支持一个新市场的增长（小型核电厂建设），但这意味着 NuScale 有一个强大的母公司来支持其发展。目前，这一点已经显现出来，因为来自 Fluor 的一个项目将帮助增加 NuScale 的收入报表，帮助这家新兴核能公司支付自己的产品开发计划。</p>
<p>确实有一些理由支持 NuScale Power 未来的前景，包括管理层喜欢强调的&#34;它是唯一获得美国核监管委员会认证的 SMR&#34;。因此，它目前基本上领先于竞争对手。</p>
<h2>NuScale Power 带来一些重大风险</h2>
<p>尽管有积极因素，但 NuScale Power 并非每位投资者的最佳选择。事实上，只有那些积极型投资者才应该考虑购买该股票。有许多原因。</p>
<p>首先，NuScale Power 的产品计划已获得美国监管机构的批准，但尚未完全获得可以开始建造和销售单位的批准。因此，在 NuScale Power 甚至有产品可销售之前还有更多工作要做。虽然它已经签署了一项初步协议以销售其首批产品，但实际上还不能这样做。它必须在努力获得最终政府批准以开始建造和交付产品的过程中花费更多资金。</p>
<p>这反过来意味着更多亏损。NuScale Power 基本上仍处于创业模式，因此支出大于收入并不奇怪。与 Fluor 的合作收入将有所帮助，但收入报表在未来几年可能看起来不太乐观。这是因为即使在获得所有所需批准之后，它仍需要加大生产能力。总的来说，NuScale Power 有一个很棒的故事，但这个故事仍处于早期阶段。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c6cff39ec24e332683e186665acdc185.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c6cff39ec24e332683e186665acdc185.png"/></p>
<p>SMR 数据来源：YCharts。</p>
<h2>NuScale Power 是一种独特的选择</h2>
<p>要强调这里的风险，看一下股价会有所帮助。在过去一年中，股价从每股约 2 美元的低点上涨到每股 15 美元以上的高点，目前约为 7 美元。如果你无法承受这样的价格波动，那么你绝对不想拥有这家核能初创公司。</p>
<p>也就是说，风险承受能力较高的投资者可能对 NuScale Power 感兴趣，因为它在生产小型模块化核反应堆的道路上取得了巨大成就。但对于大多数投资者来说，目前风险可能太大，无法证明按下购买按钮是合理的。</p>

<p>NuScale Power 正在核能领域取得进展，其小型模块反应堆使其在无碳能源领域拥有光明的未来。然而，该公司仍处于初创阶段，面临监管障碍和财务挑战，这可能会阻止保守型投资者。尽管公司资产负债表强劲，得到了弗 Fluor 的支持，但该公司尚未准备好销售其产品，可能导致未来几年潜在亏损。虽然激进型投资者可能会找到机会，但 NuScale Power 股票所带来的风险可能会超过大多数投资者的收益</p>

<p><strong>NuScale Power</strong>(SMR 12.17%) is at the leading edge of the nuclear power sector. It is doing great things and making important progress toward its goal of mass-producing small-scale modular nuclear reactors. In a world increasingly looking toward carbon-free energy sources, it is positioning itself well for a bright future. But it won't be a good fit for every investor. Here's why you might want to buy the stock and why you might <em>not</em> want to buy it.</p>
<div class="lb-trans"><p><strong>NuScale Power</strong>(SMR 12.17%) 处于核能行业的领先地位。它正在取得重要进展，朝着大规模生产小型模块化核反应堆的目标迈进。在一个越来越关注无碳能源的世界中，它正在为美好的未来做好准备。但并非每位投资者都适合投资。以下是购买该股票的原因以及不购买的原因。</p>
</div><h2>NuScale is moving (slowly) toward the nuclear future</h2>
<div class="lb-trans"><h2>NuScale 正在缓慢迈向核能未来</h2>
</div><p>Today, nuclear reactors are giant infrastructure assets that cost huge sums of money to build and years of effort to get up and running. NuScale Power is working to upend that inefficient model by offering small, modular reactors that would be built in a factory and then delivered where they are needed.</p>
<div class="lb-trans"><p>如今，核反应堆是巨大的基础设施资产，需要耗费巨额资金进行建设，并经过多年的努力才能投入运营。NuScale Power 正在努力颠覆这种低效的模式，提供在工厂建造并随后运送到需要的地方的小型模块化反应堆。</p>
</div><p>If one reactor isn't enough, they can be linked to create a larger reactor. The end result is a less costly and more flexible nuclear power offering with the added benefit of safer operation. That's why investors like the stock.</p>
<div class="lb-trans"><p>如果一个反应堆不够，它们可以连接在一起形成一个更大的反应堆。最终结果是提供成本更低、更灵活的核能产品，并带来更安全的运营。这就是为什么投资者喜欢这支股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTA1MjIvMjNfMTJfMTItYS1wZXJzb24taW4tYS1oYXJkLWhhdC1hbmQtc3VpdC1zdGFuZGluZy1pbi1mcm9udC1vZi1hLW51Y2xlYXItcG93ZXItcGxhbnQtX21mLWRsb2FkZ2V0dHlpbWFnZXMtNTE1MzA5NjEzLTEyMDB4ODAwLTViMmRmNzkuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F790522%2F23_12_12-a-person-in-a-hard-hat-and-suit-standing-in-front-of-a-nuclear-power-plant-_mf-dloadgettyimages-515309613-1200x800-5b2df79.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>Adding to the allure here is a balance sheet with zero debt and $136 million in cash. In other words, it is working from a strong financial position. Also, NuScale Power's largest shareholder is <strong>Fluor</strong>(FLR 2.21%), a large construction company.</p>
<div class="lb-trans"><p>更吸引人的是其资产负债表上没有债务，且拥有 1.36 亿美元现金。换句话说，它在一个强劲的财务状况下运作。此外，NuScale Power 的最大股东是 <strong>Fluor</strong>(FLR 2.21%)，一家大型建筑公司。</p>
</div><p>Clearly, Fluor has its own motives in backing NuScale, like supporting the growth of a new market (small-scale nuclear power plant construction), but it means that NuScale has a strong parent to help it along. That's showing up right now, too, as a project from Fluor is going to help add revenue to NuScale's earnings statement, helping the upstart nuclear power company pay for its own product development plans.</p>
<div class="lb-trans"><p>显然，Fluor 支持 NuScale 有其自身的动机，比如支持一个新市场的增长（小型核电厂建设），但这意味着 NuScale 有一个强大的母公司来支持其发展。目前，这一点已经显现出来，因为来自 Fluor 的一个项目将帮助增加 NuScale 的收入报表，帮助这家新兴核能公司支付自己的产品开发计划。</p>
</div><p>There are indeed some good reasons to like the future prospects for NuScale power, including that, as management likes to highlight, it is &#34;the only SMR certified by the U.S. Nuclear Regulatory Commission.&#34; So, it basically has a leg up on the competition right now.</p>
<div class="lb-trans"><p>确实有一些理由支持 NuScale Power 未来的前景，包括管理层喜欢强调的&#34;它是唯一获得美国核监管委员会认证的 SMR&#34;。因此，它目前基本上领先于竞争对手。</p>
</div><h2>NuScale Power comes with some big risks</h2>
<div class="lb-trans"><h2>NuScale Power 带来一些重大风险</h2>
</div><p>Despite the positives, NuScale Power is not going to be a good fit for every investor. In fact, only aggressive types should really be looking at the stock today. There are a host of reasons.</p>
<div class="lb-trans"><p>尽管有积极因素，但 NuScale Power 并非每位投资者的最佳选择。事实上，只有那些积极型投资者才应该考虑购买该股票。有许多原因。</p>
</div><p>For starters, NuScale Power's product plans are approved by U.S. regulators, but not fully approved to the point where it can start building and selling units. So, there's more work to be done before NuScale Power even has a product to sell. And while it has inked a tentative deal to sell its first units, it can't actually do that yet. It has to spend even more money on the effort to get the final government nod to start building and delivering a product.</p>
<div class="lb-trans"><p>首先，NuScale Power 的产品计划已获得美国监管机构的批准，但尚未完全获得可以开始建造和销售单位的批准。因此，在 NuScale Power 甚至有产品可销售之前还有更多工作要做。虽然它已经签署了一项初步协议以销售其首批产品，但实际上还不能这样做。它必须在努力获得最终政府批准以开始建造和交付产品的过程中花费更多资金。</p>
</div><p>That, in turn, means more red ink. NuScale Power is basically still in start-up mode, so it isn't unusual that more money would be going out the door than coming in. The revenue from the work with Fluor will help, but the income statement is likely to look ugly for years to come. That's because it will still have to ramp up its production abilities even after it gets all the approvals it needs. All in all, NuScale Power has a great story, but that story is still in its early chapters.</p>
<div class="lb-trans"><p>这反过来意味着更多亏损。NuScale Power 基本上仍处于创业模式，因此支出大于收入并不奇怪。与 Fluor 的合作收入将有所帮助，但收入报表在未来几年可能看起来不太乐观。这是因为即使在获得所有所需批准之后，它仍需要加大生产能力。总的来说，NuScale Power 有一个很棒的故事，但这个故事仍处于早期阶段。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c6cff39ec24e332683e186665acdc185.png" alt="" original-src="https://media.ycharts.com/charts/c6cff39ec24e332683e186665acdc185.png"/></p>
<p>SMR data by YCharts.</p>
<div class="lb-trans"><p>SMR 数据来源：YCharts。</p>
</div><h2>NuScale Power is an acquired taste</h2>
<div class="lb-trans"><h2>NuScale Power 是一种独特的选择</h2>
</div><p>To highlight the risks here, it helps to look at the stock price. Over the past year, the stock has gone from a low of roughly $2 per share to a high of just over $15, and it currently sits at around $7. If you can't handle price swings like that, you definitely don't want to own this nuclear power start-up.</p>
<div class="lb-trans"><p>要强调这里的风险，看一下股价会有所帮助。在过去一年中，股价从每股约 2 美元的低点上涨到每股 15 美元以上的高点，目前约为 7 美元。如果你无法承受这样的价格波动，那么你绝对不想拥有这家核能初创公司。</p>
</div><p>That said, investors with a high tolerance for risk might be interested in NuScale power, given that it has achieved a great deal on its path to producing small-scale modular nuclear reactors. But for most investors, the risks are likely too great at this point in time to justify hitting the buy button.</p>
<div class="lb-trans"><p>也就是说，风险承受能力较高的投资者可能对 NuScale Power 感兴趣，因为它在生产小型模块化核反应堆的道路上取得了巨大成就。但对于大多数投资者来说，目前风险可能太大，无法证明按下购买按钮是合理的。</p>
</div>

NuScale Power 非常出色。但以下是你不应该购买它的原因