Nocopi Technologies, Inc (NNUP) Fair Value & Analysis

Basic Materials · US · Market cap $20.9M

A solid business, but screening 55% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($0.9000). The favourable scenario is already priced in.
• 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 but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range $1.25 – $4.40 · fair‑value band $0.6600 – $0.9000 · the $1.72 price screens above the $0.7800 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

Full chart & analysis →

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Analysis

Nocopi Technologies, Inc (NNUP) currently trades at $1.72, while our model-based Fair Value estimate is $0.7800, implying the stock looks roughly 54.7% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Basic Materials 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, Nocopi Technologies, Inc generated revenue of $1.4M at a net margin of -17.3%. Revenue declined 18.6% year over year. It earns a return on equity of -1.8%. The balance sheet holds a net cash position of $2.3M. Fundamentals as of Jul 25, 2026

Our scenario range runs from $0.6600 (bear case) to $0.9000 (bull case); at $1.72, 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 16% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -55%, NNUP 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.

Widest divergence: DCF Models ($1.45) versus Asset-Based ($0.7900). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Nocopi Technologies, Inc. develops and markets specialty reactive inks for applications in the educational and toy products, and document and product authentication industries in North America, Asia, and Australia.

Full company description

Nocopi Technologies, Inc. develops and markets specialty reactive inks for applications in the educational and toy products, and document and product authentication industries in North America, Asia, and Australia. The company offers entertainment and toy technologies and products, including specialty inks for coloring books, activity kits, play sheets, single use place mats, greeting cards, board games, promotional products, or other paper-based applications; and anti-counterfeiting and anti-diversion technologies and products, such as proprietary document authentication systems for various applications in the authentication of documents having intrinsic value, such as merchandise receipts, checks, travelers' checks, gift certificates, event tickets, and product labeling and packaging. It also licenses its patented reactive ink technologies. The company serves businesses and brand owners. Nocopi Technologies, Inc. was founded in 1983 and is headquartered in King of Prussia, Pennsylvania.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Nocopi Technologies, Inc reported revenue of $1.5M in FY2025 versus $2.0M in FY2021, a compound −6.5%/yr. Reported net income was −$155K in FY2025.

NNUP screens 55% overvalued. Compare with Linde plc →

Peer Group

Specialty Chemicals · 673 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.

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

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: the price sits above our fair-value range.

Values & ESG

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

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

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Frequently asked questions

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.