Energy

Coal and Uranium Mining

12 investable US stocks · data to Saturday, October 24, 2026

Acquirer's Multiple percentile today83rd percentile

Dearer than in 96% of quarters since 1999Its usual range since 1999 is the 7th to 81st percentile (the middle 80% of quarters), with a median of the 64th. Lower is cheaper: the 10th percentile is cheaper than 90% of the investable US market; the 50th is the middle.

Is it cheap because returns are depressed?

The industry is dear against its own past, and returns on assets are strong (higher than in 83% of quarters), which may justify some of the premium. Free cash flow yield is low (lower than in 91% of quarters), so the cash doesn't support the premium. A low multiple can be warranted when returns on assets are low, and a high one when they are high, so the multiple reads best next to returns and free cash flow, each against the industry's own history.

Over- or under-earning?

Earning about normally

Return on assets ranks at the 24th percentile of investable US stocks, against a median of the 37th and a low of the 2nd since 2001. That is close to its usual level, so today's multiple is about right on a normalized basis. If earnings normalize, the multiple would likely fall: from the 83rd percentile today (dearer than 83% of investable US stocks) to around the 68th (dearer than 68% of investable US stocks), judging by where it sat in past quarters when returns were at their usual level. If returns fell to their low, it would be around the 82nd (dearer than 82% of investable US stocks).

Percentile	Today	Returns normal	Returns at low
Return on assets (higher is better)	24th	37th (median)	2nd (low)
Acquirer's Multiple (lower is cheaper)	83rd	68th	82nd

Coal and Uranium Mining's return on assets as a percentile, quarterly since 2001. The shaded band is its usual range; the dashed line its median.

Percentiles among investable US stocks. Return on assets is operating income over total assets, trailing 12 months. The last two columns show where it sat in past quarters when returns were within 7.5 points of their median (31 quarters) and of their low (8). The past, not a forecast.

Against its own history

Each chart is the industry's median stock as a percentile of all investable US stocks, quarterly since 1999. For the Acquirer's Multiple and debt to equity, lower is better. The shaded band is its usual range (the middle 80% of quarters); the dashed line is its long-run median; the dot is today. Green shading marks the better end of each scale and red the worse, and today's dot takes the colour of where it sits.

Acquirer's MultipleNear its dearestPercentile of enterprise value ÷ operating income: lower is cheaper. Dearer than in 96% of quarters since 1999.

Free cash flow yieldNear its lowestPercentile of free cash flow yield: higher is a bigger yield. Lower than in 91% of quarters since 1999.

Shareholder yieldNear its lowestDividends plus buybacks, as a percentile: higher is a bigger yield. Lower than in 92% of quarters since 1999.

Dividend yieldNear its lowestPercentile of dividend yield: higher is a bigger yield. Lower than in 93% of quarters since 1999.

Return on assets, 5-yrBetter than usualPercentile of five-year return on assets: higher is better. Higher than in 83% of quarters since 1999.

Debt to equityLess debt than usualPercentile of debt to equity: lower is less debt. Less indebted than in 88% of quarters since 1999.

Company sizeUsual rangePercentile of market cap: higher is larger. Smaller than in 68% of quarters since 1999.

Coal and Uranium Mining stocks in the screens today

In today's screens, cheapest first. ● marks one of a screen's 30 tracked picks.

Stock	Screen	Acquirer's Multiple	FCF yield	Shareholder yield

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Other Energy industries

Fossil Fuel Exploration and Production cheaper than 68%Support Activities for Oil and Gas Operations cheaper than 66%Midstream Energy cheaper than 57%Downstream Energy dearer than 50%

Quarterly since 1999 from point-in-time data. Each quarter, every investable US stock (price above $3, market cap above $75M, average daily trading above $850,000, no OTC, ADRs or MLPs) is placed in a percentile (0-100) against all the others on each metric. An industry's value is the median percentile of its stocks. Industries follow FactSet's RBICS classification. Percentiles describe the past; they are not investment advice or a forecast.