Oklo Inc.

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

Quarters: Oklo Inc.'s SEC filings, named by the month they end. Fiscal years: Yahoo Finance.

How it makes money

Margins over the past years, from the annual income statement.

Each margin is that line of the income statement divided by revenue. Fiscal year: Yahoo Finance, operating income as filed with the SEC where its quarters cover the year.

How long can the cash last?

Oklo had $2.5B in cash and short-term investments at the end of Sep 2026. It burned $452M over the last four quarters (operating cash flow minus capital spending), so at that pace the cash lasts about 22 quarters. It raised $2.5B selling new shares over the same four quarters. Its diluted share count is up 54% from two years earlier.

From Oklo Inc.'s SEC filings: cash and cash equivalents plus short-term investments (none where none is filed) at each quarter end; free cash flow is operating cash flow minus capital spending; shares are each quarter's diluted weighted average as filed, since the stock's listing and its latest split (a 10-K gives no fourth-quarter figure). Shown while the last four quarters' operating cash flow and net income are both negative.

Customers and suppliers

In its latest annual report Oklo buys from Siemens Energy, Amentum Technology, Kiewit and 2 more; sells to Meta Platforms, Switch, Equinix and 2 more.

Suppliers

Centrus LEU

Siemens Energy SMERY

Amentum Technology

Kiewit

The Klein Group

 

OKLOOklo

Customers

Diamondback Energy FANG

Equinix EQIX

Meta Platforms META

Prometheus Hyperscale

Switch

Their customers

Take-Two Interactive Software TTWOfrom Meta Platforms

Zoom Communications ZMfrom Meta Platforms

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Changes since the previous annual report (10-K filed Mar 24, 2025)

Amentum TechnologyNamed for the first time, as a supplier

KiewitNamed for the first time, as a supplier

The Klein GroupNamed for the first time, as a supplier$250 quarterly retainer; one-year agreement beginning June 2025

Meta Platforms METANamed for the first time, as a customer1.2 gigawatt planned power campus; January 2026 agreement

Named in other companies’ filings

Vertiv Holdings VRTcalls it a partner · Explore alternative energy for data centers

Only the companies Oklo names in its 10-K filed Mar 17, 2026 (SEC). Named in other companies' filings: those whose own latest annual report or an 8-K since names Oklo. The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Hover a name for the filing's own words.

Is it expensive?

Currently unprofitable, so P/E does not apply, so we look at price-to-sales instead: 1555x, below the peer median of 1754x.

Below the peer median of 1754x. The market pays less per $1 of revenue than for peers.

Its peers here are the other small nuclear reactor companies on this site, a group kept by hand: Yahoo Finance's Utilities - Independent Power Producers list is another business.

Oklo Inc. is currently unprofitable, so P/E does not apply. We use price-to-sales instead: market cap as a multiple of revenue.

What analysts expect

The average analyst price target is $55.57, 127% above the current price; 56% of 25 analysts rate it a buy; earnings beat estimates in 1 of the last 3 quarters.

Buy or Strong Buy: 14 analysts (56%). Sell or Strong Sell: 1.

Over the past year the average of the analysts' latest price targets went from $105.75 to $49.20 (−53%), while OKLO went from $101.64 to $24.45 (−76%). In the past three months targets were cut 7 times and never raised. 2 upgrades and no downgrades over the year; the latest: B of A Securities moved it to Buy from Neutral on Jan 21, 2026.

For the quarter ending Dec 2026, analysts expect an adjusted loss of $0.26 a share. For the fiscal year ending Dec 2027, they expect an adjusted loss of $1.12 a share, and revenue of $9.5M, up 122% on the year before's estimate.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Capex of $308M exceeds operating cash flow of −$144M, leaving free cash flow of −$452M. The gap has to be covered with cash on hand or borrowing.

Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings.

Financial health

Current ratio 49.1, no pressure to repay short-term debt; debt-to-equity 0.0, debt is very low and the balance sheet is solid.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

In the filings of 5 funds whose copy leaves OKLO out (on the exchange, not in the app yet): Mirae Asset Global Investments, Bridgewater Associates, Norges Bank, Swiss National Bank, Canada Pension Plan Investment Board.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 8 held OKLO at the end of their latest quarter (for most, Q2 2026). Over that quarter 5 added shares, 2 cut, 1 bought new and 1 sold all. The largest of them is Norges Bank, 1.76M shares worth $92.0M at Jun 30, 2026, 71.0% more than at Dec 31, 2025.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of OKLO at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.

Are insiders buying or selling?

Officers and directors sold $323M of OKLO on the open market in the 12 months to Nov 12, 2026; none bought. 97% of the sales were made under 10b5-1 plans, set up in advance. The largest was Jacob DeWitte (Co-Founder, CEO; director), who sold $216M in 105 sales.

From the Form 4s filed with the SEC about Oklo Inc. (104 in the 12 months): purchases (code P) and sales (code S) on the open market by its officers and directors, at the price each filing gives (often an average of the day's trades). A sale is a 10b5-1 sale when its filing says it was made under such a plan, set up in advance. Not counted: 108 other transactions (option exercises, shares withheld for tax, shares sold to pay tax, gifts and other transfers).