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Nanoco Group (NANO1)

Business description

Nanoco is a global leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials. Nanoco’s platform includes specialist manufacturing lines and over 650 patents. Focus applications are advanced electronics, displays, lighting and bio-imaging.

Stock data

Market cap.£147.8m
Last close51.70p
High / Low (52 weeks)51.7p / 33.2p
Stock market listingLN
Forecast net cash (£m)3.4
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual15.726.117.5
Relative *10.723.818.4

* % Relative to local index

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Company news

Investment summary

Nanoco’s contract extension for work with its US customer fully underpins our FY19 estimates and gives the business a c £3m+ head start entering FY20. Our forecasts are unchanged, but progress with this major customer has shone a bright light on Nanoco’s IP and execution credentials. Discussions are now ongoing with a number of parties, which could drive upside to our near-term estimates.

Last updated on 01/02/2019

Y/E Jul Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2017A 1.3 (9.4) (10.6) (4.46) N/A N/A
2018A 3.3 (6.2) (7.1) (2.63) N/A N/A
2019E 6.7 (5.0) (5.6) (1.95) N/A N/A
2020E 13.0 (0.8) (2.1) (0.74) N/A N/A

Last updated on 29/01/2019

Latest video

Executive interview – Nanoco Group

Industry outlook

The rising volume of patent filings mentioning quantum dots suggests that the technology may now be starting to come of age across a range of markets, although the timing and rate of volume uptake of individual applications is always difficult to gauge. Progress in display been slow, but the opportunity in the high growth 3D sensing market looks exciting, with Yole Development forecasting a 43% end-market CAGR from c $1.9bn in 2018 to over $18bn in 2023.

Last updated on 01/02/2019

Key management

Michael Edelman, CEO
Brian Tenner, CFO

Company address

46 Grafton Street
Manchester
M13 9NT
United Kingdom
44 16 1603 7900
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