What is NuScale Power's TRA tax payment obligation?

NuScale Power (SMR) reported TRA tax payment obligation of $582.72M in Q4 2025.

What does TRA tax payment obligation mean?

The total outstanding financial obligation owed to counterparties under a Tax Receivable Agreement (TRA). This represents a future cash outflow commitment triggered by the realization of tax benefits. Investors monitor this to assess the company's long-term liabilities and the impact of tax-sharing structures on future liquidity.

NuScale Power SMR TRA tax payment obligation

TRA tax payment obligation at other companies

Blue Owl CapitalOWL

$95.75M-1.5%

Nextpower Inc. NXT

$372.66M-5.6%

Ryan Specialty HoldingsRYAN

$430.8M+1.8%

Shift4 PaymentsFOUR

-$120M-4,100%

Shift4 PaymentsFOUR

$227M-37.2%

Shift4 PaymentsFOUR

$20M+1,718%

Other financials

Income statement

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Revenue$565.0K-95.8%

Gross profit$21.0K-99.7%

Operating income-$57.5M-62.8%

Net income-$44.0M-214%

EPS (diluted)-$0.14-27.3%

Balance sheet

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Cash & equivalents$346.2M-30.3%

Total debt$5.7M—

Total equity$1.2B+65.7%

Total assets$1.1B+85.8%

Cash flow

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Operating cash flow-$314.7M-1,281%

CapEx$1.5M+2,172%

Free cash flow-$316.2M-1,284%

Valuation

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Market cap$3.76B+90.3%

Profitability

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Gross margin24.2%-54.3pp

Operating margin-3,812.6%-4,121pp

Net margin-2,066.5%-2,438pp

FCF margin-200%-88.0pp

Returns & leverage

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Return on equity-41.2%+15.7pp

Debt / equity0×—

Current ratio29.4×+23.1×

Where this comes from

Reported directly by NuScale Power in its filing.

Tagged under the XBRL concept smr:TaxReceivableAgreementTaxPaymentObligation.

The official record: NuScale Power’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NuScale Power's TRA tax payment obligation?: NuScale Power (SMR) reported TRA tax payment obligation of $582.72M in Q4 2025.
What does TRA tax payment obligation mean?: The total outstanding financial obligation owed to counterparties under a Tax Receivable Agreement (TRA). This represents a future cash outflow commitment triggered by the realization of tax benefits. Investors monitor this to assess the company's long-term liabilities and the impact of tax-sharing structures on future liquidity.