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Jersey-based company that buys and stores physical uranium (U3O8) for long-term holding, giving investors direct commodity exposure.
Jersey-based company that buys and stores physical uranium (U3O8) for long-term holding, giving investors direct commodity exposure.
Holds physical uranium and has no mining or sales operations, so what it owns rises and falls with the uranium price, and it is run by an outside manager. It grows by raising money from shareholders to buy more, either on the market or from Kazatomprom under a purchase option agreed at its 2018 launch.
In one line: A uranium equivalent of a gold bullion trust.
Moat: narrow (scale, distribution). Long-term supply agreement with Kazatomprom, the world's largest uranium producer.
Headquarters: St Helier, Jersey · Founded: 2018 · Employees: 2
Size Yellow Cake (YCA.L) is a United Kingdom Materials company (Other Metals/Minerals) with a market value of $1.74B, the 174th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £515.00 on 6 Nov 2026.
Performance Over six months the shares fell 11.6%, against -28.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 6th highest of 21 in its peer set.
Valuation It trades at 10.6× forward earnings against a peer median of 24.2× (6th cheapest of 17).
Capital Return on invested capital runs 9.5 points below its cost of capital (8.8% WACC).
Next results Next results expected around 10 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £0 | £0 | £0 | £0 | £0 |
| Revenue growth | — | — | — | — | — |
| Gross profit | £0 | £0 | £0 | £0 | £0 |
| EBITDA | -£14.0M | -£14.0M | -£11.9M | -£9.63M | -£5.67M |
| Net income | £313M | £313M | -£368M | £579M | -£85.5M |
| Free cash flow | -£9.64M | -£9.62M | -£10.3M | -£5.16M | -£4.30M |
| Capital expenditure | £0 | £0 | £0 | £0 | £0 |
| Total debt | n/a | £0 | £0 | £0 | £0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Yellow Cake YCA.L | $1.74B | -12% | n/a | n/a | 10.6× | n/a |
| Uranium Royalty UROY | $1.16B | -24% | +1,570% | 27% | n/a | 17.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | YCA.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.9% | -8.8% | 5th highest of 21 |
| 6-month return | -11.6% | -28.2% | 6th highest of 21 |
| Distance from 52-week high | -31.5% | -48.2% | 3rd highest of 21 |
| Forward P/E | 10.6× | 24.2× | 6th cheapest of 17 |
| ROIC minus cost of capital | -9.5 pp | -3.9 pp | 4th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yellow Cake YCA.L | United Kingdom | $1.74B | -12% | n/a | n/a | 10.6× | n/a | n/a |
| RHI Magnesita RHIM.L | United Kingdom | $1.74B | +2% | -1% | 11% | 6.9× | 3.0% | +7.5% |
| Baoji Titanium Industry 600456.SS | China | $1.76B | -26% | +14% | 7% | 26.4× | n/a | n/a |
| Iluka Resources ILU.AX | Australia | $1.77B | -30% | -20% | -29% | n/a | n/a | n/a |
| Atalaya Mining Copper ATYM.L | United Kingdom | $1.71B | -2% | +20% | 29% | 7.8× | 6.5% | +13.0% |
| Nickel Industries NIC.AX | Australia | $1.78B | -46% | -3% | 10% | 10.4× | 13.1% | +27.5% |
| Energy Fuels EFR.TO | Canada | $1.78B | -70% | +70% | -79% | 61.7× | n/a | n/a |
| Yantai Zhenghai Magnetic Material 300224.SZ | China | $1.79B | -1% | +16% | 5% | 29.9× | 20.1% | +29.2% |
| Jiangsu ToLand Alloy 300855.SZ | China | $1.83B | -21% | +75% | 28% | 26.5× | n/a | n/a |
| Beijing Zhong Ke San Huan High-Tech 000970.SZ | China | $1.87B | -16% | +11% | 3% | 65.8× | n/a | n/a |
| Tibet Summit Resources 600338.SS | China | $1.56B | -59% | +54% | 30% | n/a | 12.8% | +16.5% |
| China Kings Resources 603505.SS | China | $1.55B | -33% | -11% | -1% | 46.2× | n/a | n/a |
| Baowu Magnesium Technology 002182.SZ | China | $1.54B | -34% | +4% | 0% | 74.0× | n/a | n/a |
| Denison Mines DML.TO | Canada | $2.00B | -39% | -9% | -2,101% | n/a | n/a | n/a |
| Nexa Resources NEXA | United States | $1.51B | -20% | +27% | 22% | 3.0× | -17.4% | +8.9% |
| Tibet Mineral Development 000762.SZ | China | $1.50B | -50% | +270% | 20% | n/a | 33.1% | -1.3% |
| CGN Mining 1164.HK | Hong Kong | $2.03B | -47% | +15% | 2% | 20.8× | 33.0% | +19.1% |
| Lianyou Metals 7610.TW | Taiwan | $2.03B | +89% | +238% | 56% | 11.4× | n/a | n/a |
| Henan Liliang Diamond 301071.SZ | China | $2.03B | -2% | +73% | 21% | 45.0× | 28.0% | +20.9% |
| Anhui Jingcheng Copper Share 002171.SZ | China | $2.07B | -22% | +35% | 1% | 22.0× | n/a | n/a |
| Jiaxin International Resources Investment 3858.HK | Hong Kong | $2.08B | -56% | +2,782% | 65% | 6.1× | -6.4% | n/a |