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CyanConnode Holdings (CYAN) Fair Value & Analysis

Technology · GB · Market cap 28.3M GBX

CH CyanConnode Holdings CYAN · LSE
Price£0.0805
Fair Value£0.0170
Upside-78.9%
Quality20/100
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Mixed Growth
Loss-making · -29.9% net margin
negative free cash flow
Trails peers (1/9)
Narrow moat 10/100
Evidence: Low Share as image

Fair value as of: Jul 14, 2026

From 1 valuation models · updated 27 days ago

Share price +21.7% over the past month.

Below-average quality, and screening another 79% overvalued on our models.

What matters now

  • Weak quality (20/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

£0.2279 £0.0483 Fair Value £0.0170 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range £0.0483 – £0.2279 · the £0.0805 price screens above the £0.0170 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

CyanConnode Holdings (CYAN) currently trades at £0.0805, while our model-based Fair Value estimate is £0.0170, implying the stock looks roughly 78.9% overvalued today. The Quality Score stands at 20/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, CyanConnode Holdings generated revenue of £16.0M at a net margin of -29.9%. Revenue grew 32.2% year over year. It earns a return on equity of -34.1%. Net debt stands at £3.8M. Fundamentals as of Jul 14, 2026

For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -79%, CYAN screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
NCAV (Graham) £0.0200 £0.0300 £0.0400 50
All 1 models by family
Asset-Based
NCAV (Graham) £0.0200 £0.0300 £0.0400 50

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Key figures & financial health

Revenue (TTM) 16.0M GBX
Revenue growth (YoY) +32.2%
Net margin -29.9%
Return on equity -34.1%
Free cash flow −6.6M GBX FY2025
Operating margin -40.1%
More key figures
EPS (TTM) £-0.0100
Net debt 3.8M GBX FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 20/100

Of which business quality 26 · Market factors (momentum, volatility) 62

Profitability 10
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 41
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 81
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

CyanConnode Holdings plc designs, develops, and sells narrowband radio frequency (RF) mesh and cellular networks that enable Omni Internet of Things (IoT) communications in India, the United Arab Emirates, and internationally. It offers wireless communication technology for smart metering, lighting, and IoT.

Full company description

CyanConnode Holdings plc designs, develops, and sells narrowband radio frequency (RF) mesh and cellular networks that enable Omni Internet of Things (IoT) communications in India, the United Arab Emirates, and internationally. It offers wireless communication technology for smart metering, lighting, and IoT. The company provides Narrowband RF mesh technology that supports multi-application networks, enabling communication with any device, including gas, water, and electricity meters, as well as street lighting and traffic lights. In addition, it offers Omnimesh, a standard-based smart metering solution; and Omni IoT platform that provides multi-network and multi-application IoT solutions. The company was formerly known as Cyan Holdings plc and changed its name to CyanConnode Holdings plc in November 2016. CyanConnode Holdings plc was incorporated in 2002 and is headquartered in Cambridge, the United Kingdom.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CyanConnode Holdings reported revenue of £14.2M in FY2025 versus £6.4M in FY2021, a compound +21.8%/yr. Reported net income was −£3.8M in FY2025.

Growth Quality 30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
£14.2M
Latest YoY
−24.3%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.0%
Avg. growth/yr (22Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+45.0%
Revenue +21.8%/yr
FY21 £6.4M
FY22 £9.6M
FY23 £11.7M
FY24 £18.7M
FY25 £14.2M
Net income
FY21 −£2.1M
FY22 −£871K
FY23 −£2.4M
FY24 −£3.8M
FY25 −£3.8M

CYAN screens 79% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "CyanConnode Holdings Fair Value". https://www.fairvalue-calculator.com/stock/CYAN

Peer Group

Communication Equipment · 286 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 26 · Bottom 25%
Fair Value upside −79% · Bottom 25%
Return on assets -8% · Bottom 25%
Net margin (TTM) -30% · Bottom 25%
Operating margin (TTM) -40% · Bottom 25%
Revenue growth 32% · Top 25%

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/B 2.53× · Pricier than median
P/S (TTM) 2.39× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 30
PAST 0 · sector 15
HEALTH 0 · sector 98
DIVIDEND 0 · sector 25

VALUE 0: the price sits above our fair-value range.

Insider activity: 30/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is CyanConnode Holdings (CYAN) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of £0.0170 versus a price of £0.0805, about −79% (overvalued).
What is the fair value of CYAN?
Our model-based fair value for CyanConnode Holdings is £0.0170 (as of Jul 14, 2026), built from audited fundamentals. The current price is £0.0805.
What is the quality score of CYAN?
CyanConnode Holdings has a Quality Score of 20/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of CyanConnode Holdings (CYAN)?
CyanConnode Holdings reported trailing-twelve-month revenue of about £16.0M (latest available figure, as of Jul 14, 2026).
What is the net profit margin of CYAN?
The net profit margin of CyanConnode Holdings is about -29.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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