Nanosonics Ltd (NAN) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of Nanosonics Ltd stock A$1.78, price A$2.83, that is 37.1% below the price, quality 59 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 12, 2026.
How to read this chart
60‑month range A$2.63 – A$7.01 · fair‑value band A$1.29 – A$2.67 · the A$2.83 price screens above the A$1.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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Nanosonics Limited operates as an infection prevention company in Australia, North America, Europe, the United Kingdom, the Middle East, and Asia Pacific.
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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.
Stock analysis
Nanosonics Ltd (NAN) currently trades at A$2.83, while our model-based Fair Value estimate is A$1.78, 37% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of A$2.06 per share, and 1 of the 24 models we run sit above the A$2.83 price.
Bear case: the Asset-Based group reads lowest at A$0.4900, and 23 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: A$1.29 (bear) to A$2.67 (bull), the price of A$2.83 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Nanosonics Ltd reported revenue of A$203M in FY2026 versus A$120M in FY2022, a compound +14.2%/yr. Reported net income was A$17.8M in FY2026, compounding +47.8%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap A$874M (≈ $594M) Small · P/E ratio 49.1 · P/S ratio 4.29 · EPS (TTM) A$0.0577 · Net margin 8.8% · Return on equity 8.4% · Return on assets (EBIT) 4.1% (5-year average) · Operating margin 7.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic.
The share trades about 35% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −43% fair-value upside, at −37%, NAN screens cheaper than that median.
Fair Value models
BearA$1.29Fair Value A$1.78BullA$2.67
Price A$2.83 · Downside -37.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 4 months old). Earnings retained since then (A$0.0224 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.3%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
Start year 2021 (pandemic). Over 10 years: +16.9% a year
Revenue growth 21 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+27.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+15.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.5%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.15.5% vs 2.8%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 7%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+27.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (Australia: IMF forecast 3.0% a year to 2030, 2.9% from 2016 to 2025) that is about +24.3% a year for the price and +4.6% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Medical Instruments & Supplies · 196 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside−37.1% · Below median
Profitability
Return on equity (12 months)8.4% · Above median
Return on assets5.7% · Above median
Net margin (12 months)8.8% · Above median
Operating margin (12 months)7.7% · Below median
Growth and dividend
Revenue growth (quarter YoY)−3.2% · Bottom 25%
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Nanosonics Ltd Fair Value". https://www.fairvalue-calculator.com/stock/NAN
Frequently asked questions
Is Nanosonics Ltd (NAN) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of A$1.78 versus a price of A$2.83, about 37% lower (overvalued).
What is the fair value of NAN?
Our model-based fair value for Nanosonics Ltd is A$1.78 (as of Nov 12, 2026), built from audited fundamentals. The current price: A$2.83.
What is the quality score of NAN?
Nanosonics Ltd has a Quality Score of 59/100. 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 price target for Nanosonics Ltd (NAN)?
Our model-based price target is the fair value of A$1.78 (as of Nov 12, 2026) from 24 valuation models. Cautious scenario A$1.29, optimistic scenario A$2.67. It is a calculation from audited fundamentals, not an analyst target.
What is the Nanosonics Ltd stock forecast for 2026?
Our models put fair value at A$1.78, about 37% lower versus a price of A$2.83 (overvalued). Cautious scenario A$1.29, optimistic scenario A$2.67. The calculation is refreshed regularly with new filings.
What is the revenue of Nanosonics Ltd (NAN)?
Nanosonics Ltd reported trailing-twelve-month revenue of about A$204M (latest available figure, as of Nov 12, 2026).
What growth is priced into Nanosonics Ltd (NAN)?
For today's price to be fair in a discounted-cash-flow model, Nanosonics Ltd would have to grow free cash flow by +27.9 % per year for five years (discount rate 11.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.9 % per year. As of Nov 12, 2026.
What discount rate (WACC) does the fair value of NAN use?
Our models discount Nanosonics Ltd at 11.4 %: a base by market capitalisation (small), damped by beta 1.15, country premium for Australia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Nanosonics Ltd that is +27.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.4 %) and the same formula as our fair value.
How much growth has Nanosonics Ltd (NAN) delivered so far?
Over the past 5 years revenue at Nanosonics Ltd grew +14.9 % a year. The price currently implies free-cash-flow growth of +27.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Nanosonics Ltd (NAN) growing?
The median revenue growth in the sector is +5.9 % a year. That is the yardstick for the growth priced into Nanosonics Ltd (+27.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Nanosonics Ltd (NAN)?
The free-cash-flow yield on the price is 1.99 %: that much free cash flow Nanosonics Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nanosonics Ltd (NAN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nanosonics Ltd it is A$1.78 per share (as of Nov 12, 2026), against a price of A$2.83. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Nanosonics Ltd stock overvalued or undervalued in 2026?
As of Nov 12, 2026, NAN trades above its calculated fair value: price A$2.83, fair value A$1.78, a gap of about −37% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NAN?
No. The price is what the market pays today (A$2.83); the fair value is what the company's own numbers justify (A$1.78). For Nanosonics Ltd the two are A$1.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nanosonics Ltd worth?
The market values Nanosonics Ltd at about A$874M (market capitalisation, as of Nov 12, 2026). Per share that is A$2.83; our models calculate a fair value of A$1.78 per share.
What do the bullish and bearish scenarios say about NAN?
Our models span a range for Nanosonics Ltd: cautious scenario A$1.29, base A$1.78, optimistic A$2.67 per share (as of Nov 12, 2026, price A$2.83). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NAN?
Nanosonics Ltd trades at a price-to-earnings ratio of 49.1 (as of Nov 12, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$1.78 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings, FY2026 ex one-offs: 99.1. Other multiples: PEG 46.4, P/B 4.0, P/S 4.3, EV/EBITDA 32.5.
What is the PEG ratio of NAN?
The PEG ratio of Nanosonics Ltd is 46.36 (P/E divided by earnings growth, as of Nov 12, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Nanosonics Ltd (NAN)?
Balance-sheet figures for Nanosonics Ltd (as of Nov 12, 2026): return on equity 8.4%. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is NAN from its 52-week high?
Nanosonics Ltd trades at A$2.83, about 35% below its 52-week high of A$4.34 and 6% above the low of A$2.67 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of A$1.78 is for.
Which stocks are comparable to Nanosonics Ltd?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Nanosonics Ltd stock attractive at the current price?
The data as of Nov 12, 2026: price A$2.83, calculated fair value A$1.78 (−37%), Quality Score 59/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NAN calculated?
We run Nanosonics Ltd through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of A$1.78 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.3% above its aggregate fair value. Nanosonics Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Nanosonics Ltd (NAN)?
The closing price on Nov 13, 2026 was A$2.83. Our model-based fair value is A$1.78, about 37% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nanosonics Ltd right now?
The price sits above even our optimistic bull case (A$2.67). The favourable scenario is already priced in. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (A$1.29 to A$2.67) leaves room in how you read the outcome.
Key figures of Nanosonics Ltd
How large is the market capitalisation of Nanosonics Ltd (NAN)?
The market capitalisation of Nanosonics Ltd is A$874M (≈ $594M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Nanosonics Ltd (NAN)?
The price-to-sales ratio of Nanosonics Ltd is 4.29 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nanosonics Ltd (NAN)?
Earnings per share at Nanosonics Ltd are A$0.0577 (price ÷ EPS = P/E 49.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Nanosonics Ltd (NAN)?
The net margin of Nanosonics Ltd is 8.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Nanosonics Ltd (NAN)?
The return on equity (ROE) of Nanosonics Ltd is 8.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Nanosonics Ltd (NAN)?
On an EBIT basis the return on assets of Nanosonics Ltd is 4.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Nanosonics Ltd (NAN)?
The operating margin of Nanosonics Ltd is 7.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nanosonics Ltd (NAN)?
Revenue at Nanosonics Ltd is growing −3.2% versus a year earlier (3y avg +6.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Nanosonics Ltd (NAN)?
Earnings per share at Nanosonics Ltd are growing −24.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Nanosonics Ltd (NAN) hold?
Nanosonics Ltd holds more cash than debt, A$132M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Nov 12, 2026