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NAOS Ex-50 Opportunities Co. Ltd.
(Sydney:NAC)
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Rating:53Neutral
Price Target:
AU$0.60
â–¼(-13.71% Downside)
Action:Reiterated
Date:08/20/26
The score is held back primarily by weak and highly volatile financial performance, including a sharp 2026 revenue decline and a swing to a net loss. Offsetting factors include improved latest-year cash flow and moderately positive technical momentum. Valuation is mixed: a very high dividend yield helps, but a negative P/E reflects loss-making performance.
Positive Factors
Active small-cap investment mandate
The listed investment company structure gives shareholders access to a specialist, actively managed portfolio outside the S&P/ASX 50. This creates potential for differentiated returns through security selection and exposure to less-covered businesses.
Negative Factors
Severe earnings volatility
The sharp revenue collapse and swing to a substantial loss show that reported results are highly dependent on investment outcomes. This weakens earnings predictability and makes sustained profitability difficult to assess over the next several months.
Read all positive and negative factors
Positive Factors
Negative Factors
Active small-cap investment mandate
The listed investment company structure gives shareholders access to a specialist, actively managed portfolio outside the S&P/ASX 50. This creates potential for differentiated returns through security selection and exposure to less-covered businesses.
Read all positive factors
NAOS Ex-50 Opportunities Co. Ltd. (NAC) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$26.10M
Dividend Yield10.88%
Average Volume (3M)26.98K
Price to Earnings (P/E)―
Beta (1Y)0.09
Revenue Growth-21.07%
EPS Growth-143.16%
CountryAU
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-0.07
Shares Outstanding45,794,735
10 Day Avg. Volume17,389
30 Day Avg. Volume26,984
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)0.81
Price to Sales (P/S)28.38
P/FCF Ratio6.57
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
NAOS Ex-50 Opportunities Co. Ltd. Business Overview & Revenue Model
Company Description
NAOS Ex-50 Opportunities Company Limited is an Australian-based, publicly traded investment entity, overseen by NAOS Asset Management Limited. The company's strategy involves seeking out value-oriented equities within the small and mid-capitalizat...
How the Company Makes Money
NAC makes money primarily through investment returns generated on its portfolio. Its main economic drivers are: (1) capital appreciation—if the market value of portfolio holdings rises, NAC’s net tangible assets (NTA) increase and the company reco...
NAOS Ex-50 Opportunities Co. Ltd. Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
58
Neutral
Cash Flow
52
Neutral
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 816.37K | 11.88M | -15.84M | 9.42M | -24.34M |
| Gross Profit | -65.50K | 10.92M | -15.92M | 9.34M | -24.42M |
| EBITDA | -2.95M | 9.69M | -77.72K | 8.95M | 0.00 |
| Net Income | -3.09M | 7.55M | -13.31M | 5.82M | -18.29M |
Balance Sheet | |||||
| Total Assets | 47.89M | 53.07M | 46.74M | 63.58M | 62.72M |
| Cash, Cash Equivalents and Short-Term Investments | 42.17M | 49.22M | 40.76M | 1.17M | 2.34M |
| Total Debt | 17.40M | 17.32M | 17.23M | 17.15M | 17.07M |
| Total Liabilities | 19.11M | 17.82M | 17.96M | 18.05M | 19.61M |
| Stockholders Equity | 28.78M | 35.25M | 28.78M | 45.53M | 43.11M |
Cash Flow | |||||
| Free Cash Flow | 3.53M | -212.32K | 3.81M | 2.22M | 4.42M |
| Operating Cash Flow | 3.53M | -212.32K | 3.81M | 2.22M | 4.42M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | -3.38M | -1.08M | -3.46M | -3.39M | -2.31M |
NAOS Ex-50 Opportunities Co. Ltd. Technical Analysis
Neutral
0.70
Price Trends
0.55
Positive
0.56
Positive
0.59
Negative
Market Momentum
0.01
Positive
49.40
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NAC, the sentiment is Neutral. The current price of 0.7 is above the 20-day moving average (MA) of 0.58, above the 50-day MA of 0.55, and above the 200-day MA of 0.59, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 49.40 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:NAC.
NAOS Ex-50 Opportunities Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$35.46M | 6.12 | 15.53% | 6.30% | 201.60% | 281.48% | |
72 Outperform | AU$139.66M | 116.00 | 1.05% | 6.21% | -35.12% | -90.81% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | AU$51.29M | -33.15 | -1.84% | 6.31% | -42.55% | -396.54% | |
56 Neutral | AU$114.88M | -4.94 | -37.94% | 6.04% | -38.54% | -170.85% | |
53 Neutral | AU$26.10M | -8.62 | -9.30% | 8.57% | -21.07% | -143.16% |
* Financial Sector Average
AU:NAC
NAOS Ex-50 Opportunities Co. Ltd.
0.57
0.06
11.76%
AU:GC1
Glennon Small Companies Ltd
0.40
-0.13
-24.53%
AU:SNC
Sandon Capital Investments Limited
0.74
-0.11
-12.84%
AU:SB2
Salter Brothers Emerging Companies Ltd.
0.61
-0.07
-10.03%
AU:SEC
Spheria Emerging Cos. Ltd.
2.33
-0.12
-4.98%
AU:CDO
Cadence Opportunities Fund Ltd.
2.25
0.59
35.30%
NAOS Ex-50 Opportunities Co. Ltd. Corporate Events
NAOS Ex-50 lifts dividend despite FY26 loss and portfolio pullback
Aug 18, 2026
NAOS Ex-50 Opportunities Company Limited reported a FY26 after-tax loss of $3.09 million as its investment portfolio returned -5.26%, slightly underperforming the SP/ASX 300 Industrials Accumulation Index. Management described the year as one of c...
NAOS Ex-50 Opportunities Files Updated ASX Corporate Governance Statement
Aug 18, 2026
NAOS Ex-50 Opportunities Company Limited has lodged its corporate governance statement for the year ended 30 June 2026 with the ASX, confirming that the document is current as at 19 August 2026 and approved by the board. The statement is hosted on...
NAOS Ex-50 Opportunities Declares Quarterly Dividend for NAC Shareholders
Aug 18, 2026
NAOS Ex-50 Opportunities Company Limited, an Australian listed investment company trading as NAC, provides exposure to a portfolio of domestic equities outside the SP/ASX 50 index via ordinary fully paid shares. The vehicle aims to deliver both in...
NAOS Ex-50 Posts Larger Loss but Maintains Dividends in FY26
Aug 18, 2026
NAOS Ex-50 Opportunities Company Limited reported a significant deterioration in financial performance for the year ended 30 June 2026, with revenue from ordinary activities turning negative and losses before and after tax increasing sharply compa...
NAC Shares Trade Below NTA as Dividend-Focused Emerging Companies Fund Flags Strong FY26 Earnings
Aug 11, 2026
NAC reported a pre-tax net tangible asset value of $0.65 per share as at 31 July 2026, against a share price of $0.525, indicating the stock is trading at a discount to asset backing. The portfolio consists of eight investments with a gross value ...
NAOS Ex-50 Opportunities Releases Q4 FY26 Investor Update Materials
Aug 3, 2026
NAOS Ex-50 Opportunities Company Limited has released presentation materials for its Q4 FY26 investor update and QA, to be held today and hosted by its manager, NAOS Asset Management Limited. The session is intended to brief investors on recent pe...
NAOS Funds Diverge as Macro Forces and MaxiPARTS Drag Small Caps
Jul 23, 2026
NAOS Asset Management reported a highly macro-driven fourth quarter of FY26, as global equity markets rose, led by large resource stocks in Australia and major U.S. technology names. The NAOS listed investment companies delivered mixed performance...
NAC Trades Below NTA as Concentrated Small-Cap Portfolio Targets High Growth and Strong Dividends
Jul 13, 2026
NAOS Ex-50 Opportunities Company Limited reported a 30 June 2026 pre-tax net tangible asset value of $0.52 per share and a post-tax NTA of $0.63, compared with a closing share price of $0.505, highlighting that the stock continues to trade at a di...
NAOS Ex-50 Ends NACGA Bond Buy-Back with No Purchases
Jun 18, 2026
NAOS Ex-50 Opportunities Company Limited has confirmed a final notice in relation to its on-market buy-back program for its NACGA 6.50% convertible bonds maturing on 30 September 2027. The company reported that no NACGA securities were bought back...
NAOS Ex-50 Opportunities Launches On-Market Share Buy-Back for NAC Shares
Jun 2, 2026
NAOS Ex-50 Opportunities Company Limited has announced an on-market share buy-back of its ordinary fully paid shares trading under the ASX code NAC. The board has formally notified the market of the program, signalling an active capital management...
NAOS Ex-50 Updates DRP Terms on March Quarter Dividend
Jun 1, 2026
NAOS Ex-50 Opportunities Company Limited has updated its notification regarding a quarterly dividend for the period ended 31 March 2026 on its ordinary fully paid shares. The update, dated 1 June 2026, revises details in the dividend reinvestment ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.