Stock

Denison Mines

DNN

Uranium · Energy

Also trades as: 0URY.L GBP 0.03 (-0.99%)

Price

$2.17

+0.01 (+0.46%)

Market Cap

$1.96B

Exchange

New York Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Oct 24, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Weak

1/30

Growth

Weak

2/20

Cash Flow

Weak

0/10

Stability

Weak

1/10

Valuation

Data not available

0/10

Ownership

Weak

2/15

Dividends

Not counted

n/a

6 of 95 counted points = Winston Score 6. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+13.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 793.7M (2021) → 896.6M (2025)

§Winston Score History

The full picture

Denison Mines is a Canadian uranium company focused on exploring and developing uranium deposits in northern Saskatchewan, Canada. Its main asset is the Wheeler River project, which holds one of the largest undeveloped uranium deposits in the region. Uranium is used as fuel in nuclear power plants, so Denison's future customers would be utilities that run nuclear reactors around the world.

Denison does not yet produce or sell uranium, so it currently earns little revenue — which explains the deeply negative margins. The company funds its operations through equity raises and also holds a 22.5% stake in the McClean Lake uranium mill, which processes ore for other miners and generates some modest income. The key growth driver is advancing Wheeler River toward production, particularly using a lower-cost mining method called in-situ recovery, but the main risks are the long timeline to production, uranium price volatility, and the ongoing need to raise capital before any mine is built.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-43.5% YoY

YoY Growth Rate

Revenue declining

Reported EPS Growth

+183.0% YoY

Quarterly reporting periods ended:

30 Jun 2025: C$0.01

30 Jun 2026: C$0.0283

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

0.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~4 years

C$697M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

C$697M cash & investments at current burn rate

Revenue declining

Denison Mines's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-2037.8%

Thin — -2037.8% gross margin

Profit after running costs

Operating Margin

-2517.5%

Losing money on operations — -2517.5%

Return on the money invested

ROCE

-8.8%

Weak — -8.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-9.4%

Shrinking sales (-9.4% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-4084.1%

Burning cash (-4084.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

2.38

Heavy debt load (2.38)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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