BWX Technologies Emerges as Top Nuclear Energy Stock

Established government contractor outperforms upstart NuScale Power in the nuclear energy market

Apr. 2, 2026 at 8:39pm

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An extreme close-up of intricate, industrial nuclear reactor components and machinery, conveying the heavy, secure, and powerful nature of BWX Technologies' role in the nuclear energy industry.The specialized equipment and fuel manufacturing capabilities of BWX Technologies make it a vital national security asset in the nuclear energy sector.Columbia Today

As the nuclear energy industry experiences a resurgence, two companies - BWX Technologies and NuScale Power - have emerged as key players. While NuScale aims to revolutionize nuclear power deployment with its small modular reactor technology, BWX Technologies has established itself as a trusted partner for the U.S. government, providing specialized equipment and fuel for nuclear energy and defense applications. With a robust backlog of government contracts and a steady stream of long-term revenue, BWX Technologies stands out as the better investment option compared to the still-developing NuScale.

Why it matters

The nuclear energy industry is poised for growth as countries seek cleaner energy sources to meet rising power demands. Investors are closely watching the performance of key players in this space, and the competition between established government contractors like BWX Technologies and upstart technology companies like NuScale Power will shape the future of the industry.

The details

NuScale Power is developing small modular reactor (SMR) technology that aims to reimagine nuclear energy deployment, with each module producing 77 megawatt electric (MWe) of electricity. However, the company is still in its early stages, and its first power plants won't be operational until the 2030s. In contrast, BWX Technologies is a well-established government contractor that manufactures specialized equipment and fuel for nuclear energy and nuclear medicine. The company's subsidiary, Nuclear Fuel Services, is the sole provider of nuclear fuel for the U.S. Navy, making it a critical national security asset.

  • In 2025, BWX Technologies' government operations segment accounted for $2.35 billion of its $3.2 billion in revenue.
  • In 2026, class action lawsuits were filed against NuScale Power, alleging the company misled investors regarding a partnership with ENTRA1 Energy.
  • In 2026, the Romanian government and Nuclearelectrica shareholders approved a final investment decision for NuScale's RoPower project, delaying the project's original 2030 timeline to at least July 2033.

The players

NuScale Power

A nuclear technology company developing small modular reactor (SMR) technology to reimagine nuclear energy deployment.

BWX Technologies

A government contractor that manufactures specialized equipment and fuel for nuclear energy and nuclear medicine, including being the sole provider of nuclear fuel for the U.S. Navy.

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What they’re saying

“The nuclear renaissance is here, and NuScale Power and BWX Technologies are two stocks that have made it onto investors' radars.”

— Courtney Carlsen, Author

What’s next

As the nuclear energy industry continues to evolve, investors will closely monitor the progress of both NuScale Power and BWX Technologies. NuScale's ability to successfully commercialize its SMR technology and secure additional contracts will be a key focus, while BWX Technologies' continued success in securing government contracts and maintaining its position as a critical national security asset will be closely watched.

The takeaway

In the competitive nuclear energy market, BWX Technologies' established position as a trusted government contractor and its steady stream of long-term revenue make it a more attractive investment option compared to the still-developing NuScale Power. The nuclear energy industry's growth potential means both companies bear watching, but BWX Technologies' proven track record gives it an edge over the upstart NuScale.