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Nanosonics Limited (NAN) Fair Value & Analysis

Healthcare · AU · Market cap A$968M

NL Nanosonics Limited NAN · AU
PriceA$3.55
Fair ValueA$2.12
Upside-40.2%
Quality71/100
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Mixed Growth
Thin margins · 9.9% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Moderate moat 48/100
Evidence: High Range A$1.60 – A$2.65 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from A$1.18 to A$2.12 (+80.0%) since Jul 12, 2026. Share price +10.2% over the past month.

A solid business, but screening 40% overvalued on our models.

What matters now

  • A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (A$2.65). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

A$7.18 A$2.63 Fair Value A$2.12 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range A$2.63 – A$7.18 · fair‑value band A$1.60 – A$2.65 · the A$3.55 price screens above the A$2.12 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Nanosonics Limited (NAN) currently trades at A$3.55, while our model-based Fair Value estimate is A$2.12, implying the stock looks roughly 40.2% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Healthcare 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: high).

Over the trailing twelve months, Nanosonics Limited generated revenue of A$207M at a net margin of 9.9%. Revenue grew 9.2% year over year. It earns a return on equity of 10.1%. The balance sheet holds a net cash position of A$154M. Fundamentals as of Aug 13, 2026

Our scenario range runs from A$1.60 (bear case) to A$2.65 (bull case); at A$3.55, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -46% fair-value upside, at -40%, NAN screens cheaper 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
Growth DCF A$2.04 A$3.14 A$4.86 80
Residual Income A$0.5800 A$0.6300 A$0.7400 76
Rev-Margin DCF A$1.32 A$1.70 A$2.52 74
All 24 models by family
DCF Models
FCF DCF A$2.15 A$2.88 A$5.09 38
Owner Earnings A$1.39 A$2.31 A$4.01 31
5Y Revenue Exit A$1.26 A$1.55 A$2.15 39
5Y EBITDA Exit A$1.47 A$1.98 A$2.97 41
5Y P/E Exit A$1.84 A$3.26 A$5.17 38
10Y Revenue Exit A$1.55 A$2.23 A$2.51 36
10Y EBITDA Exit A$1.70 A$2.65 A$4.15 37
10Y P/E Exit A$1.95 A$3.38 A$5.66 35
Earnings-Based
Graham-Dodd A$0.4700 A$3.28 A$4.60 54
Lynch FV A$1.69 A$2.42 A$3.15 50
PEG = 1.0 A$1.69 A$2.42 A$3.15 46
EPV A$0.7400 A$0.7600 A$0.7800 59
Multiples
P/E Multiple A$1.14 A$1.52 A$1.90 63
P/S Multiple A$0.8800 A$1.18 A$1.47 58
P/B Multiple A$0.8800 A$1.18 A$1.47 55
EV/EBIT A$0.9200 A$1.05 A$1.17 53
EV/EBITDA A$1.14 A$1.34 A$1.53 54
EV/Revenue A$0.8100 A$0.9300 A$1.04 43
Asset-Based
NCAV (Graham) A$0.3500 A$0.4700 A$0.7000 50
Growth DCF
Growth DCF A$2.04 A$3.14 A$4.86 80
Rev-Margin DCF A$1.32 A$1.70 A$2.52 74
Economic Profit
Residual Income A$0.5800 A$0.6300 A$0.7400 76
ROIC Compounder A$0.7700 A$0.8500 A$0.9100 72
Growth Earnings
Growth-Adj P/E A$2.25 A$3.21 A$4.18 68

Widest divergence: Growth Earnings (A$3.21) versus Asset-Based (A$0.4700). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) A$207M
Revenue growth (YoY) +9.2%
Net margin 9.9%
Return on equity 10.1%
Free cash flow A$35.3M FY2025
P/E ratio 50.7
More key figures
Operating margin 8.9%
EPS (TTM) A$0.0700
EPS growth (YoY) -1.3%
Net cash A$154M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 73 · Market factors (momentum, volatility) 35

Profitability 59
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 51
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 79
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

Nanosonics Limited operates as an infection prevention company in Australia, North America, Europe, the United Kingdom, the Middle East, and Asia Pacific.

Full company description

Nanosonics Limited operates as an infection prevention company in Australia, North America, Europe, the United Kingdom, the Middle East, and Asia Pacific. The company manufactures and distributes trophon ultrasound probe disinfector, and its related consumables and accessories; and research, develops, and commercialize of infection control and decontamination products and related technologies. It also provides trophon2 a device with an enhanced design and new functionality, including AcuTrace TM for audit-ready digital record-keeping and capabilities to connect trophon 2 with hospital IT systems; AuditPro nanosonics, an infection control workflow compliance management; Trophon EPR, a patented sonicated mist technology that provides high level disinfection of both endocavitary and surface ultrasound probes; and CORIS, an instrument reprocessing product platform. Nanosonics Limited was incorporated in 2000 and is headquartered in Macquarie Park, Australia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Nanosonics Limited reported revenue of A$199M in FY2025 versus A$102M in FY2021, a compound +18.2%/yr. Reported net income was A$20.7M in FY2025, compounding +24.6%/yr from FY2021.

Growth Quality 82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
A$199M
Latest YoY
+16.0%
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.
+18.4%
Avg. growth/yr (5Y) 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.
+14.9%
Avg. growth/yr (20Y) 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.
+28.8%
Revenue +18.2%/yr
FY21 A$102M
FY22 A$120M
FY23 A$168M
FY24 A$172M
FY25 A$199M
Net income +24.6%/yr
FY21 A$8.6M
FY22 A$3.7M
FY23 A$19.9M
FY24 A$13.0M
FY25 A$20.7M

NAN screens 40% overvalued. Compare with Intuitive Surgical, Inc →

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Cite: Fair Value Calculator (2026). "Nanosonics Limited Fair Value". https://www.fairvalue-calculator.com/stock/NAN

Peer Group

Medical Instruments & Supplies · 201 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 71 · Top 25%
Fair Value upside −40% · Below median
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 9% · Below median
Revenue growth 9% · Above median

Valuation Multiples vs Medical Instruments & Supplies median · lower = cheaper

P/E (TTM) 50.7× · Pricier than 75% of peers
P/B 3.27× · Pricier than median
P/S (TTM) 3.31× · Pricier than median
P/FCF 19.5× · Pricier than median
EV/EBITDA 21.3× · Pricier than 75% of peers
PEG 46.36× · Pricier than 75% of peers

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 46 · sector 26
PAST 40 · sector 26
HEALTH 100 · sector 96
DIVIDEND 0 · sector 32

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

Insider activity: 45/100

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 Medical Instruments & Supplies stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Intuitive Surgical, Inc ISRG $401.27 $150.04 -63%
EssilorLuxottica Société anonyme 1EL €164.40 €68.55 -58%
Medline Inc MDLN $35.50 $30.15 -15%
Becton, Dickinson and Company BDX $181.41 $100.46 -45%
Alcon Inc ALC $73.58 $39.78 -46%
ResMed Inc RMD $226.00 $187.89 -17%
West Pharmaceutical Services, Inc WST $352.29 $141.58 -60%
Sartorius Stedim Biotech S.A DIM €180.30 €48.88 -73%
Coloplast A/S COLOB kr 429.70 kr 382.22 -11%
Gan & Lee Pharmaceuticals., a biopharmaceutical company, 603087 ¥77.48 ¥27.22 -65%

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Frequently asked questions

Is Nanosonics Limited (NAN) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of A$2.12 versus a price of A$3.55, about −40% (overvalued).
What is the fair value of NAN?
Our model-based fair value for Nanosonics Limited is A$2.12 (as of Aug 13, 2026), built from audited fundamentals. The current price is A$3.55.
What is the quality score of NAN?
Nanosonics Limited has a Quality Score of 71/100. 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 Nanosonics Limited (NAN)?
Nanosonics Limited reported trailing-twelve-month revenue of about A$207M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of NAN?
The net profit margin of Nanosonics Limited is about 9.9%, meaning it keeps roughly 9.9% of revenue as net income. 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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