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Nanoco Group plc (NANO) Fair Value & Analysis

Technology · GB · Market cap 5.1M GBX · ISIN GB00B01JLR99

What is Nanoco Group plc really worth?

NG Nanoco Group plc NANO · LSE
Price£0.0237
Fair Value£0.0711
Upside+200.0%
Quality56/100

A solid business, trading 67% below our fair value of £0.0711.

As of Jun 23, 2026, the fair value of Nanoco Group plc is £0.0711 per share against a price of £0.0237, so the fair value sits 200% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Ranks above peers (9/9)

Risks

!Mixed Growth (revenue 5y +14.6 %/yr)
!Thin margins · 9.2% net margin
!Negative equity (buybacks among others) · negative free cash flow
!Moderate moat 62/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range £0.0569 – £0.0924

Fair value as of: Jun 23, 2026

From 3 valuation models · updated 74 days ago

Fair value updated Jun 23, 2026, revised from £0.1000 to £0.0711 (−28.9%) since Jun 11, 2026. Share price −5.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (£0.0569). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

£0.5580 £0.0220 Fair Value £0.0711 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.

How to read this chart

60‑month range £0.0220 – £0.5580 · fair‑value band £0.0569 – £0.0924 · the £0.0237 price screens below the £0.0711 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jun 23, 2026.

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Analysis

Nanoco Group plc (NANO) currently trades at £0.0237, while our model-based Fair Value estimate is £0.0711, implying the stock looks roughly 66.7% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Technology sector. How firm this estimate is: it rests on 3 models at a data quality of 95/100, which puts the evidence level at low.

Over the trailing twelve months, Nanoco Group plc generated revenue of £11.9M at a net margin of 9.2%. Revenue grew 123.3% year over year. The balance sheet holds a net cash position of £12.7M. The stock trades on a trailing P/E of 2.4. Fundamentals as of Jun 23, 2026

Our scenario range runs from £0.0569 (bear case) to £0.0924 (bull case); at £0.0237, the current price sits below 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. For context, the median of 10 Technology peers we cover trades at −71% fair-value upside, at 200%, NANO screens cheaper than that median.

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Key figures & financial health

P/E ratio 2.4
P/S ratio 0.43 TTM
EPS (TTM) £0.0100 price ÷ EPS = P/E 2.4
Net margin −28.8% FY2025
Return on equity −5,780% TTM
Return on assets (EBIT) −13.3% avg 5y
More key figures
Profitability
Operating margin 32.7% TTM
Growth
Revenue (TTM) £11.9M TTM
Revenue growth (YoY) +123% 3y avg +45.6%
Balance sheet & cash flow
Free cash flow −5.2M GBX FY2025
Net cash 12.7M GBX FY2025

Figures from reported company fundamentals · as of Jun 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 52 · Market factors (momentum, volatility) 20

Profitability 20
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 100
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Nanoco Group plc, together with its subsidiaries, engages in the research, development, manufacture, and licensing of novel nanomaterials for use in various commercial applications in the United Kingdom and internationally.

Full company description

Nanoco Group plc, together with its subsidiaries, engages in the research, development, manufacture, and licensing of novel nanomaterials for use in various commercial applications in the United Kingdom and internationally. The company provides CFQD quantum dots consisting of fluorescent semiconductor nanoparticles for OLED and µLED colour conversion, QD-EL, and security tagging applications; and HEATWAVE quantum dots for use in biometric facial recognition, optical diagnostics, LiDAR, and night vision applications in the sensor industry. In addition, it offers management services. The company was formerly known as Evolutec Group plc and changed its name to Nanoco Group plc in April 2009. Nanoco Group plc was founded in 2001 and is headquartered in Runcorn, the United Kingdom.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Nanoco Group plc reported revenue of £7.6M in FY2025 versus £2.1M in FY2021, a compound +38.2%/yr. Reported net income was −£2.2M in FY2025.

Growth Quality 44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
£7.6M
Latest YoY
−3.3%
Avg. revenue 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.
+45.6%
Avg. revenue 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.
+14.6%
Avg. revenue growth/yr (21Y) 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.
+30.6%
EBIT margin (trend) 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.
−151.7% (2020) → −21.2% (2025)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +38.2%/yr
FY21 £2.1M
FY22 £2.5M
FY23 £5.6M
FY24 £7.9M
FY25 £7.6M
Net income
FY21 −£4.4M
FY22 −£4.7M
FY23 £11.1M
FY24 −£1.3M
FY25 −£2.2M

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Cite: Fair Value Calculator (2026). "Nanoco Group plc Fair Value". https://www.fairvalue-calculator.com/stock/NANO.LSE

Peer Group

Semiconductor Equipment & Materials · 212 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 56 · Above median
Fair Value upside +200% · Top 25%
Return on assets 6% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 33% · Top 25%
Revenue growth 123% · Top 25%

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/E (TTM) 2.4× · Cheaper than 75% of peers
P/S (TTM) 0.58× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 0
FUTURE100 · sector 59
PAST0 · sector 31
HEALTH100 · sector 96
DIVIDEND0 · sector 17

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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

Similar stocks

10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jun 23, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML €1,494 €604.27 −60%
Applied Materials, Inc AMAT $454.71 $183.10 −60%
Lam Research Corporation LRCX $301.90 $91.80 −70%
KLA Corporation KLAC $175.54 $74.58 −58%
NAURA Technology Group 002371 ¥707.90 ¥205.30 −71%
Teradyne, Inc TER $354.97 $65.80 −81%
Advanced Micro-Fabrication Equipment Inc 688012 ¥335.42 ¥55.05 −84%
Piotech Inc 688072 ¥685.11 ¥89.27 −87%
Hon. Precision, Inc 7769 6,445 TWD 1,804 TWD −72%
Hangzhou Changchuan Technology Co 300604 ¥284.80 ¥46.26 −84%

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Frequently asked questions

Is Nanoco Group plc (NANO) overvalued or undervalued?
As of Jun 23, 2026, our model estimates a fair value of £0.0711 versus a price of £0.0237, about +200% upside (undervalued).
What is the fair value of NANO?
Our model-based fair value for Nanoco Group plc is £0.0711 (as of Jun 23, 2026), built from audited fundamentals. The current price: £0.0237.
What is the quality score of NANO?
Nanoco Group plc has a Quality Score of 56/100. 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 Nanoco Group plc (NANO)?
Our model-based price target is the fair value of £0.0711 (as of Jun 23, 2026) from 3 valuation models. Cautious scenario £0.0569, optimistic scenario £0.0924. It is a calculation from audited fundamentals, not an analyst target.
What is the Nanoco Group plc stock forecast for 2026?
Our models put fair value at £0.0711, about +200% upside versus a price of £0.0237 (undervalued). Cautious scenario £0.0569, optimistic scenario £0.0924. The calculation is refreshed regularly with new filings.
What is the revenue of Nanoco Group plc (NANO)?
Nanoco Group plc reported trailing-twelve-month revenue of about £11.9M (latest available figure, as of Jun 23, 2026).
What is the net profit margin of NANO?
The net profit margin of Nanoco Group plc is about 9.2%, meaning it keeps roughly 9.2% of revenue as net income. Based on the latest reported figures.
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