Oil supply concerns are back in focus after Saudi Aramco warned that global crude stockpiles are scarily thin, and that inventories could take years to rebuild. Energy security is front of mind again. That puts Australian nuclear energy stocks on more watchlists as investors look for reliable baseload power that is not tied to oil flows. This article highlights three nuclear energy stocks from our screener.
The three Australian nuclear energy stocks below are just a sample from the wider opportunity set, with the full screen surfacing 23 more companies that carry similarly detailed nuclear narratives that are not covered in this article. If you want to move beyond a short list and assess the sector in greater detail, head straight into the Nuclear Energy Stocks screener to identify, filter, and analyze nuclear energy plays for your portfolio.
Worley (ASX:WOR)
Overview:Worley is a global engineering and project services group that supports nuclear power projects within a broader energy, chemicals, and resources portfolio.
Operations:Worley generates most of its A$12.7b business revenue from the Americas at about A$6.2b, with A$4.5b from EMEA and A$1.3b from APAC.
Market Cap:A$4.6b
For nuclear-focused investors, Worley matters because its engineers and project teams help design, build, maintain, and retire critical nuclear power infrastructure worldwide.
"The accelerating global push for decarbonisation and energy transition is expanding Worley's addressable market, as evidenced by 60% of FY25 revenue coming from sustainability-related work (up from 52% in FY24). Further investment and government policies towards net zero are likely to boost revenue streams, especially in renewables, hydrogen, and carbon capture."
What happens to Worley's nuclear opportunity set will depend heavily on how one unresolved pressure shapes future project margins and bidding discipline.
That pressure point is exactly where the real story starts, and the full narrative for Worley unpacks how Worley's nuclear ambitions and risk discipline could be decoupling.
Silex Systems (ASX:SLX)
Overview:Silex Systems develops and licenses SILEX laser enrichment technology for uranium used in nuclear power, alongside smaller quantum and medical isotope projects.
Operations:The business generates about A$13 million from the Silex Systems segment and A$2.1 million from Translucent, mostly from the United States.
Market Cap:A$1.2b
Silex Systems provides exposure to uranium enrichment technology that could be relevant for future nuclear fuel supply. The company is currently loss making and relies on external borrowing, so its outlook depends on how commercial licensing momentum holds up if a single key assumption changes.
If that assumption moves even slightly, the analysis report for Silex Systems shows where Silex Systems' enrichment story could accelerate the fastest.
Paladin Energy (ASX:PDN)
Overview:Paladin Energy is a uranium-focused miner that develops and operates projects in Namibia and Canada to supply fuel for nuclear reactors.
Operations:The business generates US$304 million in revenue from Namibia, with uranium sales flowing primarily to Asia, North America, and Europe.
Market Cap:A$4.0b
Paladin Energy plugs directly into the nuclear energy story because its uranium output feeds the reactors that utilities rely on for steady baseload power, and the real interest today is how securely that production can ramp from here.
"Paladin's trajectory has been encouraging from 517,000 pounds of U3O8 in its first quarter back to over 1 million pounds in Q3 2025. A weather event in early 2025 temporarily halted operations, the kind of real-world risk that does not appear in a spreadsheet, but the plant was undamaged and production recovered quickly."
What happens to Paladin Energy's long term uranium cash generation will likely hinge on how one unseen cost pressure eventually settles.
That hidden cost pressure is exactly what the full narrative for Paladin Energy unpacks, showing how Paladin Energy could balance risk, accelerate production plans and reshape its uranium cash story.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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