The Tool Desk
Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →No—not by itself. Centrus Energy’s $4.5 billion backlog is a sizeable, long-dated measure of expected work and deliveries, not cash in the bank or profit shareholders are certain to receive. At the October 9, 2026 close of $142.44, the stock was about 69% below a secondary market-data summary’s $464.25 52-week high. That drop puts the price in context; it does not establish that the shares are undervalued. The key question is how much of the backlog converts into funded, profitable cash flow—and what that cash flow is worth per share.
What Centrus’s $4.5 billion backlog represents
Centrus reported $4.5 billion of backlog as of June 30, 2026, up from $3.8 billion at December 31, 2025. The company defines backlog as estimated future revenue from work performed or from LEU and uranium deliveries. It extends as far as 2040, so it is not a near-term revenue forecast. These figures are from Centrus Energy Corp.’s Form 10-Q for the quarter ended June 30, 2026.
As an Amazon Associate I earn from qualifying purchases.
| Segment | Backlog at June 30, 2026 | Backlog horizon |
|---|---|---|
| LEU | $3.7 billion | Through 2040 |
| Technical Solutions | $0.8 billion | Through 2034 |
| Total | $4.5 billion | Through 2040 |
Backlog is not equivalent to cash received, guaranteed revenue, or earnings. Centrus reported roughly $0.1 billion of customer advances and deferred revenue in LEU. That is a useful contrast: those advances are customer cash received for future deliveries, whereas much of the larger backlog still depends on future performance and delivery.
How firm is the LEU backlog?
About $3.0 billion of the $3.7 billion LEU backlog consisted of contingent LEU and HALEU sales commitments. Of that contingent amount, $2.4 billion was under definitive agreements, according to the June 2026 Form 10-Q.
#1 Best Overall
- Read Before You Buy — No Video Output: These adapters support charging and USB 2.0 data transfer, but cannot transmit video signals. Except for standard USB webcams (which use USB data only), they are not compatible with HDMI/DisplayPort cables, video-capable USB-C hubs, or docking stations with video output.
- Convert USB-A Ports to USB-C: Designed to connect USB-C earphones, cables, flash drives, card readers, and other USB-C accessories to standard USB-A ports. Plug-and-play with no drivers or software required.
- Aluminum Alloy Housing: Built with a sturdy aluminum alloy shell that aids in heat dissipation and protects against daily wear and scratches. Designed to maintain a stable and secure connection.
- Compact & Travel-Friendly: The ultra-compact design allows the adapter to stay plugged into your device without blocking adjacent ports or adding bulk, reducing wear and tear on your original USB ports.
- 12-Month Warranty: Backed by a 12-month manufacturer warranty for peace of mind. Designed to meet strict quality control standards for reliable everyday performance.
“Definitive” matters, but it does not make the entire amount unconditional or immediately payable. Centrus says contingent sales commitments generally depend on operational milestones and support for potential capacity construction at Piketon. The company must still execute and deliver; the filing’s description does not turn these commitments into cash already collected or profit already earned.
What the new $900 million DOE award does—and does not—add
On July 1, 2026, Centrus subsidiary American Centrifuge Operating signed a contract for a $900 million U.S. Department of Energy HALEU production task order. The firm-fixed-price contract pays incrementally as performance-based milestones are met. The project requires expansion of Centrus’s Piketon facility, with an initial delivery of one metric ton of HALEU UF6 due by July 2032. The award is meaningful evidence of government-backed work, but it is not $900 million of immediate revenue or cash.
Rank #2
- 5-in-1 USB-C Hub: Experience comprehensive connectivity featuring a Power Delivery input, two USB-A 2.0 ports, a USB-A 3.0 port, and an HDMI port. (Note: The USB-C power delivery input port is only for connecting an external wall charger to power your laptop and cannot power peripheral devices.)
- 90W Pass-Through Charging: Achieve optimal charging with 90W pass-through power to your laptop, supported by a total input of 100W, with the hub reserving 10W for operational efficiency. (Note: Wall charger not included.)
- Quick Data Transfers: Accelerate your productivity with rapid data transfers using a high-speed 5Gbps USB 3.0 port and two 480Mbps USB 2.0 ports.
- 4K HDMI Display: Enhance your visual experience with a hub capable of delivering 4K resolution at 30Hz in both mirror and extend modes. Please note that this hub is compatible with MacBook (macOS 12 and newer), Windows 10 and 11, ChromeOS, and laptops equipped with DP Alt Mode and Power Delivery. Note: This device is not compatible with Linux.
- What You Get: Anker USB-C Hub (5-in-1, 4K HDMI), welcome guide, 18-month warranty, and our friendly customer service.
Payments and options depend on future performance
Larger portions of the stated award are tied to 2028 and completion of the initial phase in 2031. The contract also includes two DOE options, each for five additional metric tons at $17 million per metric ton, or up to $170 million combined. Those options are discretionary, not guaranteed backlog that should be treated as already awarded.
Quick wins for a faster PC:
Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →Other DOE enrichment work is not assured
Centrus’s filing says the company was not selected for a task order under the DOE LEU Production Contract in January 2026. It remained eligible to compete for future task orders, but the filing said no additional funding had been requested or announced. That is a reminder that potential government opportunities should not be valued as though they are already funded awards.
Rank #3
- Sleek 7-in-1 USB-C Hub: Features an HDMI port, two USB-A 3.0 ports, and a USB-C data port, each providing 5Gbps transfer speeds. It also includes a USB-C PD input port for charging up to 100W and dual SD and TF card slots, all in a compact design.
- Flawless 4K@60Hz Video with HDMI: Delivers exceptional clarity and smoothness with its 4K@60Hz HDMI port, making it ideal for high-definition presentations and entertainment. (Note: Only the HDMI port supports video projection; the USB-C port is for data transfer only.)
- Double Up on Efficiency: The two USB-A 3.0 ports and a USB-C port support a fast 5Gbps data rate, significantly boosting your transfer speeds and improving productivity.
- Fast and Reliable 85W Charging: Offers high-capacity, speedy charging for laptops up to 85W, so you spend less time tethered to an outlet and more time being productive.
- What You Get: Anker USB-C Hub (7-in-1), welcome guide, 18-month warranty, and our friendly customer service.
The separate HALEU operating-contract risk
The existing HALEU Operation Contract presents a different issue from the newly signed production task order. Centrus’s June 30, 2026 Form 10-Q says the proposed FY2027 DOE budget did not include further funding to operate the cascade. The filing associates about $0.8 billion of Technical Solutions backlog with that contract and says DOE had communicated that it did not currently intend to exercise further options.
Centrus said it was working with DOE on agreements that could allow private commercial operation, but the filing cautions that there was no assurance an agreement would be reached. The short three-month Option 1b covers maintenance and storage, not production. Investors should therefore distinguish the new, milestone-based production award from the funding uncertainty around the legacy operating work.
Rank #4
- Dual Converters, Infinite Potential：Includes 2× USB C male to USB A female adapters and 2× USB A male to USB C female adapters. Perfect for a wide range of uses—tablets with Bluetooth keyboards, expand USB ports on macbook, and more. Two different converters for all your daily needs
- Next-Level 10Gbps & 3A Charging: No more slow 480Mbps, this usb to usb c adapter has a transfer speed of up to 10Gbps, allowing you to do more transferring in less time. This usb adapter fits both USB A and USB C charger, supporting up to 3A fast charging
- Upgraded Exquisite Craftsmanship: With an aluminum alloy housing and metal connector, the usbc to usb adapter is extremely durable and sturdy. Rigorously tested to withstand more than 10,000 times of plugging and unplugging, ensuring long-lasting performance
- Broad Compatible: The usb c to usb adapter widely supports all USB C/ USB A devices like laptops, tablets, cellphones, car chargers, and phone chargers. Such as compatible with MacBook Pro/Air 2023/2022, Thunderbolt 4/3 Devices,Apple MagSafe Watch 9/8/7/SE/Ultra, iPad Pro 2022/2021, Samsung Galaxy S23/S20/S10, and iPhone 17/16/15 Pro. Plug and play
- Please Note: To reach 10Gbps speed, keep the cable under 3.3 ft. For USB A Male to USB C adapters, try flipping the USB C connector. USB C Male to USB A adapters support bidirectional 10Gbps transfer within 3.3 ft
What the price decline tells you—and what it cannot
Centrus’s investor-relations historical-price page shows a $142.44 closing price on October 9, 2026. A secondary market-data summary lists a 52-week high of $464.25. The close was about 69% below that high. This comparison is specifically to the 52-week high; it does not establish an all-time high, explain why the price changed, or show that $142.44 is fair value.
A falling share price can make a company look cheaper relative to its own past price, but a high-water mark is not a valuation anchor. The backlog also cannot be divided by shares outstanding to produce a meaningful per-share value: backlog is future estimated revenue, not equity value, and says nothing on its own about costs, margins, timing, investment needs, or the discount investors should apply.
Best Value
- 5-in-1 Connectivity: Equipped with a 4K HDMI port, a 5 Gbps USB-C data port, two 5 Gbps USB-A ports, and a USB C 100W PD-IN port. Note: The USB C 100W PD-IN port supports only charging and does not support data transfer devices such as headphones or speakers.
- Powerful Pass-Through Charging: Supports up to 85W pass-through charging so you can power up your laptop while you use the hub. Note: Pass-through charging requires a charger (not included). Note: To achieve full power for iPad, we recommend using a 45W wall charger.
- Transfer Files in Seconds: Move files to and from your laptop at speeds of up to 5 Gbps via the USB-C and USB-A data ports. Note: The USB C 5Gbps Data port does not support video output.
- HD Display: Connect to the HDMI port to stream or mirror content to an external monitor in resolutions of up to 4K@30Hz. Note: The USB-C ports do not support video output.
- What You Get: Anker 332 USB-C Hub (5-in-1), welcome guide, our worry-free 18-month warranty, and friendly customer service.
A practical framework for evaluating LEU at about $143
A decision requires converting the company’s conditional, long-dated work into a per-share estimate. The filings provide important inputs, but they do not settle the assumptions below.
- Estimate conversion, not just headline backlog. Separate customer commitments by how contingent they are, the milestones they require, and when deliveries could occur. Do not treat the full $4.5 billion as near-term sales.
- Model cash receipts and costs. For the DOE production task order, account for milestone timing, facility expansion, and the required initial delivery. Estimate the costs and capital needed to meet those milestones; the $900 million contract amount alone does not reveal profit or free cash flow.
- Stress-test government funding. Treat discretionary options and potential future task orders as uncertain. Model the legacy HALEU operation work separately in light of the proposed FY2027 funding gap and DOE’s stated current intent regarding further options.
- Translate operating outcomes into equity value. Apply explicit assumptions for LEU pricing, margins, delivery timing, capital requirements, and a discount rate. Compare the resulting estimated equity value with the market price, rather than comparing backlog directly with the share price.
- Account for shares and possible financing. The SEC filing reported 19,233,658 Class A shares and 719,200 Class B shares outstanding as of August 1, 2026. That is a dated share-count snapshot, not a guarantee of the future count. Consider whether financing needs could change the number of shares before long-term projects produce cash.
Centrus reported 2025 revenue of $448.7 million and net income of $77.8 million in its 2025 results release. Those historical results provide operating context, but they do not establish the margins or cash generation of future backlog, the economics of the expanded facility, or what the stock is worth today.
How to read the bullish and cautious cases together
The bullish case is that Centrus has a large, long-horizon LEU backlog and a signed $900 million DOE HALEU production award that can support future business if it reaches milestones and expands capacity. The cautious case is that much of the LEU backlog is contingent, the new award requires execution over years, and the separate HALEU operating contract faces a stated funding gap and uncertain options. Neither case, without assumptions about cash conversion and per-share value, answers whether $143 is attractive.
The evidence supports treating backlog as a potentially important business indicator—not as a buy signal. Whether LEU merits a place in a portfolio at about $143 depends on an investor’s own forecast of funded deliveries, profitability, investment and financing needs, government support, and the value of the resulting cash flows per share.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
