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Nanoco Group (NANO1)

Business description

Nanoco Group is the leading commercial supplier of cadmium-free quantum dots (CFQD) and IP. The near-term focus is on the display market, where CFQDs are used to enhance picture quality.

Stock data

Market cap.£118.2m
Last close41.35p
High / Low (52 weeks)48.9p / 22.5p
Stock market listingLN
Forecast net cash (£m)7.4
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual1.412.17.4
Relative *0.97.84.1

* % Relative to local index

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Company news

Investment summary

Nanoco’s £1.8m milestone payment from its major US partnership confirms that the scale up is on track for commercial production to start in January 2019. Consequently the company remains on a course to deliver an inflection in financial performance, starting in H2. If one considers the potential of the sensor market and the extent to which Nanoco is scaling capacity, the potential impact on Nanoco's financials is transformative. A lack of newsflow on the display side suggests that progress here remains sluggish and we still await the milestone of the first mass production TV order. Penetrating the mid/high end TV market now looks like the key opportunity for Nanoco in this vertical.

Last updated on 29/06/2018

Y/E Jul Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 0.5 (11.2) (12.3) (5.20) N/A N/A
2017A 1.3 (9.4) (10.6) (4.46) N/A N/A
2018E 4.7 (5.5) (6.4) (2.29) N/A N/A
2019E N/A N/A N/A N/A N/A N/A

Last updated on 22/06/2018

Latest video

Executive interview - Nanoco Group

Industry outlook

Research and Markets estimates the global image sensor market was worth $14.19bn in 2017 and forecasts that it will grow at a 9.75% CAGR to reach $24.8bn by 2023. Progress in the display market has been sluggish, but we still believe the opportunity could be significant if the company can convert some TV deals in the pipeline.

Last updated on 29/06/2018

Key management

Michael Edelman, CEO
David J. Blain , CFO

Company address

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