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MIR vs. BWXT: Which Nuclear Energy Stock is a Stronger Play Now?

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Key Takeaways

  • MIR is leveraging digital upgrades in nuclear safety to boost performance and data reliability.
  • MIR projects 2025 organic revenue growth of 5.5 -7.5% and adjusted EPS between $0.45 and $0.50.
  • BWXT faces zirconium cost headwinds despite growth in small modular reactor initiatives and U.S. partnerships.

Artificial intelligence (AI)-powered data centers represent a thriving industry currently. The energy-hungry AI space has resulted in nuclear energy being one of the hottest industries over the past year. Given this rosy scenario, two nuclear power-centric stocks that are commanding investor attention are Mirion Technologies (MIR - Free Report) and BWX Technologies (BWXT - Free Report) . 

Mirion Technologies, based in Atlanta, GA, provides radiation detection, measurement, analysis, and monitoring products and services in North America, Europe and the Asia Pacific. BWX Technologies, headquartered in Lynchburg, VA, manufactures and sells nuclear components in the United States, Canada, and internationally. Given this backdrop, let’s take a closer look at their fundamentals, growth prospects and challenges.

The Case for Mirion Technologies

Mirion Technologies is actively involved in digital innovation, particularly within the nuclear and radiation safety sectors. The company focuses on integrating digital technologies into its radiation safety solutions. To this end, last month, the company inked a deal with Westinghouse Electric Company to enhance nuclear instrumentation with digital solutions.

The objective of the deal is to upgrade analog systems to modern digital Ex-core Nuclear Instrumentation Systems. Utilizing the high-performing Mirion proTK product line, this collaboration aims to enable digital upgrades to existing analog neutron flux systems. This digital upliftment will naturally reduce operational burden and enhance performance in nuclear power plants.

Digital equipment is capable of delivering precise and accurate measurements. Unlike analog counterparts, digital systems of Mirion are less susceptible to spectrum degradation caused by gain changes resulting from environmental temperature variations. The resultant stability ensures that the collected data is of the highest quality, boosting the confidence of researchers and reducing time wasted on troubleshooting.

The transition from analog to digital creates the opportunity to quickly record and store data in a standardized, preset format during acquisition and transmission. This guarantees data integrity and facilitates reproducibility.  Another advantage associated with digital solutions is the ability to interface with equipment remotely. The Mirion Lynx II system enables real-time monitoring and control of germanium and neutron detectors. This remote access not only offers convenience but also allows continuous observation over extended periods.

Impressive nuclear order growth, driven by strong demand from the nuclear power end-market is aiding MIR stock immensely. MIR’s 2025 guidance is quite impressive. The company expects total revenues to grow in the 5-7% range on a year-over-year basis. Organic revenue growth is projected in the 5.5-7.5% range. Adjusted EBITDA is projected in the $215-$230 million range. Adjusted free cash flow is projected in the $85-$110 million range. The company expects adjusted earnings per share in the 45-50 cents range.

The Case for BWX Technologies

BWXT is expanding its commercial power segment. BWXT is benefiting from strong bookings, government contracts, and growing nuclear demand, particularly in government operations and commercial power. BWXT is working alongside the U.S. government and other cutting-edge nuclear energy companies.

BWXT has landed deals and partnerships with the U.S. Department of Defense to help build a cutting-edge micro-nuclear reactor. It is also working alongside key commercial nuclear energy companies such as GE Vernova.

BWX Technologies secured key manufacturing contracts in 2025 for two major nuclear energy projects, which include providing support for the life extension of the Pickering Nuclear Generating Station and the deployment of a new small modular reactor at the Darlington site. This is expected to strengthen BWX Technologies' position in the global nuclear energy market.

The company is also preparing for future growth in the small modular reactors market by expecting multiple follow-on orders in Canada, the United States, and Europe.  This reflects the increasing global demand for SMRs as a clean energy solution to meet decarbonization goals and growing electricity needs. 

However, it is facing challenges from zirconium cost impacts and unfavorable mix in its commercial operations. Fluctuations in zirconium prices, influenced by factors like supply chain disruptions and geopolitical issues, significantly influence the performance of companies like BWXT. 

MIR’s Price Performance Better Than BWXT’s

In a year, BWXT shares have gained 45.1%. MIR shares have performed much better, surging in excess of 101% in a year.

1-Year Price Comparison

Zacks Investment ResearchImage Source: Zacks Investment Research

How Do Zacks Estimates Compare for MIR & BWXT?

The Zacks Consensus Estimate for MIR’s 2025 sales and EPS implies a year-over-year improvement of 5.3% and 14.6%, respectively.  EPS estimates have remained stable over the past 60 days.

Zacks Investment ResearchImage Source: Zacks Investment Research

The Zacks Consensus Estimate for BWXT’s 2025 sales and EPS implies a year-over-year improvement of 12.9% and 6.6%, respectively. EPS estimates have been trending northward over the past 60 days.

Zacks Investment ResearchImage Source: Zacks Investment Research

Conclusion

While both MIR and BWXT are poised to benefit from the nuclear energy boom, Mirion Technologies appears to have the edge with better price performance, focus on digital innovation, and strength of its nuclear and safety segment, owing to price increases and organic volume growth. Apart from challenges related to zirconium cost impacts, BWXT’s performance is being challenged by an unfavorable mix in its commercial operations.

Given these factors, MIR seems a better pick than BWXT now.

While MIR carries a Zacks Rank #3 (Hold), BWXT is currently #4 Ranked (Sell). 

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here

 


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