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Nanosonics Limited
(Sydney:NAN)
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Rating:65Neutral
Price Target:
AU$3.00
▼(-1.64% Downside)
Action:Reiterated
Date:08/27/26
The score is driven primarily by solid underlying fundamentals (strong margins and a conservative balance sheet) and a positive earnings update with FY'27 growth guidance and a larger buyback. These strengths are tempered by weak technicals (price below all key moving averages), premium valuation (high P/E), and recent margin/cash-flow deterioration plus near-term OpEx pressure tied to CORIS commercialization.
Positive Factors
Recurring installed-base model
The expanding trophon installed base supports recurring consumables and service revenue, making the business less dependent on new equipment sales. Continued placements, upgrades and utilisation can deepen customer relationships and provide a durable foundation for revenue over the next several quarters.
Negative Factors
Revenue and margin softness
The recent revenue decline and lower net margin show that strong historical expansion has not translated into uninterrupted current growth. Persistent cost, mix or pricing pressure could reduce operating leverage and make future earnings more sensitive to execution and demand conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring installed-base model
The expanding trophon installed base supports recurring consumables and service revenue, making the business less dependent on new equipment sales. Continued placements, upgrades and utilisation can deepen customer relationships and provide a durable foundation for revenue over the next several quarters.
Read all positive factors
Nanosonics Limited (NAN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$894.51M
Dividend YieldN/A
Average Volume (3M)984.99K
Price to Earnings (P/E)51.6
Beta (1Y)0.33
Revenue Growth2.59%
EPS Growth-13.36%
CountryAU
Employees508
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.06
Shares Outstanding299,167,630
10 Day Avg. Volume931,611
30 Day Avg. Volume984,992
Financial Highlights & Ratios
PEG Ratio-4.18
Price to Book (P/B)4.63
Price to Sales (P/S)4.95
P/FCF Ratio57.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$3.72Price Target Upside21.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.03
Revenue Forecast (FY)AU$219.53M
Nanosonics Limited Business Overview & Revenue Model
Company Description
Nanosonics Limited, along with its subsidiaries, functions as a global infection prevention enterprise with operations in Australia and beyond. The company focuses on the production and distribution of its trophon ultrasound probe disinfection sys...
How the Company Makes Money
Nanosonics primarily makes money from a razor-and-blades style model built around the installed base of its trophon ultrasound probe disinfection systems. Revenue is generated from (1) sales of capital equipment (trophon units) to healthcare provi...
Nanosonics Limited Earnings Call Summary
Earnings Call Date:Aug 24, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 23, 2027
Earnings Call Sentiment Positive
The call presents a predominantly positive operational and financial picture: constant-currency revenue and EBIT growth, strong trophon profitability and cash generation, record placements and upgrades, product innovation (trophon3/trophon2 Plus), solid annuity and service growth, a debt-free balance sheet with substantial cash and an active buyback. Management also delivered substantial regulatory and commercial progress for CORIS and set explicit FY'27 guidance that anticipates continued growth. Negative items are present but largely manageable and/or transitional: a Q3 consumables dip due to weather, margin moderation from product mix and currency, APAC softness tied to rental models, and elevated near-term OpEx to fund CORIS commercialization which will weigh on near-term profitability. Overall, highlights substantially outweigh the lowlights, with CORIS viewed as a meaningful long-term growth opportunity while trophon continues as a strong cash engine.Positive Updates
Constant Currency Revenue Growth
FY'26 constant currency revenue grew 6% to $211.5M (reported revenue $203.9M, up 3% on PCP).
Negative Updates
Q3 Consumables Softness Due to U.S. Weather Events
Severe weather events in the U.S. Northeast caused lower hospital traffic and a Q3 consumables shipment shortfall (management estimated approximately $2M lower consumables in Q3); volumes recovered in Q4.
Read all updates
Q4-2026 Updates
Positive
Negative
Constant Currency Revenue Growth
FY'26 constant currency revenue grew 6% to $211.5M (reported revenue $203.9M, up 3% on PCP).
Read all positive updates
Company Guidance
Management guided FY'27 constant‑currency revenue of $220–$228 million (≈8–12% growth on FY'26), gross profit margin of 74–76% (reflecting a ~12.5% tariff headwind and higher freight), and operating expenses of $156–$163 million (with the majority of the OpEx step‑up funding the CORIS commercial launch); CORIS is expected to deliver initial revenues in the low single‑digit millions, the company announced an additional on‑market buyback of up to $40 million (after completing $20 million in FY'26) and reiterated that trophon will continue to drive operating leverage and cash (trophon‑only EBIT FY'26: ~$50.6M reported / $56.5M cc). They also outlined CORIS unit economics: capital pricing 3–5× trophon, ~10 cycles per unit per day (3–4× trophon), price per cycle 4–6× trophon and higher expected service take‑rates (80–100% vs trophon’s ~55–60%).Nanosonics Limited Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
86
Very Positive
Cash Flow
63
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 203.47M | 198.93M | 171.56M | 167.51M | 119.73M |
| Gross Profit | 148.62M | 155.66M | 133.99M | 125.66M | 86.15M |
| EBITDA | 23.70M | 31.82M | 21.72M | 29.50M | 7.86M |
| Net Income | 17.84M | 20.68M | 12.97M | 19.88M | 3.74M |
Balance Sheet | |||||
| Total Assets | 310.52M | 272.48M | 237.34M | 226.07M | 193.24M |
| Cash, Cash Equivalents and Short-Term Investments | 155.22M | 161.29M | 129.55M | 112.16M | 94.51M |
| Total Debt | 23.13M | 7.69M | 9.30M | 10.72M | 11.71M |
| Total Liabilities | 93.01M | 62.57M | 55.14M | 62.22M | 54.55M |
| Stockholders Equity | 217.51M | 209.91M | 182.20M | 163.86M | 138.69M |
Cash Flow | |||||
| Free Cash Flow | 17.41M | 35.26M | 20.27M | 19.74M | -271.00K |
| Operating Cash Flow | 22.55M | 43.98M | 22.78M | 23.31M | 6.70M |
| Investing Cash Flow | -5.14M | -8.71M | -2.36M | -3.54M | -6.90M |
| Financing Cash Flow | -23.53M | -3.30M | -3.01M | -2.71M | -1.97M |
Nanosonics Limited Technical Analysis
Neutral
3.05
Price Trends
2.91
Positive
3.11
Negative
3.32
Negative
Market Momentum
0.03
Negative
52.59
Neutral
70.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NAN, the sentiment is Neutral. The current price of 3.05 is above the 20-day moving average (MA) of 2.93, above the 50-day MA of 2.91, and below the 200-day MA of 3.32, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 52.59 is Neutral, neither overbought nor oversold. The STOCH value of 70.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:NAN.
Nanosonics Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$6.30B | 21.97 | 10.52% | 2.12% | 1.90% | 99.19% | |
69 Neutral | AU$607.94M | 86.08 | 8.45% | ― | 12.94% | -44.50% | |
65 Neutral | AU$894.51M | 51.61 | 8.16% | ― | 2.59% | -13.36% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | AU$256.57M | -16.15 | -5.34% | 2.79% | 1.84% | -178.23% | |
50 Neutral | AU$37.31M | -30.52 | -6.27% | ― | 0.29% | -148.39% | |
46 Neutral | AU$39.74M | -67.50 | -0.62% | ― | -3.05% | 86.01% |
* Healthcare Sector Average
AU:NAN
Nanosonics Limited
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-1.57
-34.43%
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Nanosonics Limited Corporate Events
Nanosonics Updates Market on Progress of On‑Market Share Buy‑Back
Oct 28, 2026
Nanosonics Limited has issued an updated notification regarding its ongoing on‑market share buy‑back program in its ordinary fully paid shares. The latest daily disclosure states that a total of 2,288,255 securities had been repurchase...
Nanosonics Updates Market on Progress of On-Market Share Buy-Back
Oct 23, 2026
Nanosonics Limited reported a daily update on its ongoing on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the ticker NAN. The company continues to use the buy-back as a capital management tool, which can...
Nanosonics Updates Market on Progress of On-Market Share Buy-Back
Oct 22, 2026
Nanosonics Limited has provided an updated notification to the ASX on its ongoing on-market share buy-back program, covering ordinary fully paid shares under ticker NAN. The latest daily update reports that the company repurchased 85,134 shares on...
Nanosonics Updates ASX on Progress of Daily On-Market Share Buy-Back
Oct 19, 2026
Nanosonics Limited has provided an updated notification to the ASX on its ongoing on-market share buy-back program, covering ordinary fully paid shares under the code NAN. The company reports that a total of 1,714,637 shares had been repurchased b...
Nanosonics Continues Daily On‑Market Share Buy‑Back Program
Oct 14, 2026
Nanosonics Limited has provided an updated notification to the ASX confirming ongoing on‑market share buy‑back activity in its ordinary fully paid shares. The company reported a cumulative 1,264,637 shares repurchased prior to the late...
Nanosonics Updates Investors on Ongoing On-Market Share Buy-Back
Oct 13, 2026
Nanosonics Limited has provided an updated notification on its on-market share buy-back program, confirming that 100,000 ordinary fully paid shares were repurchased on the previous trading day. This brings the total number of shares bought back si...
Nanosonics Reports Daily Progress on Ongoing On-Market Share Buy-Back
Oct 12, 2026
Nanosonics Limited, an ASX-listed medical technology firm focused on infection prevention solutions for healthcare markets, issues ordinary fully paid shares under the ticker NAN. The company’s flagship offerings include advanced ultrasound ...
Nanosonics Continues Daily On-Market Share Buy-Back Program
Oct 8, 2026
Nanosonics Limited has reported a further on-market share buy-back of its ordinary fully paid shares, updating investors on a daily basis as part of an ongoing capital management program first notified in late August 2026. The latest filing shows ...
Nanosonics Updates Market on Ongoing On-Market Share Buy-Back
Oct 7, 2026
Nanosonics Limited, a medical technology company listed on the ASX under code NAN, issues ordinary fully paid shares and serves healthcare providers with infection prevention solutions. Its positioning in the healthcare and medical devices sector ...
Nanosonics Continues On-Market Share Buy-Back Program
Oct 6, 2026
Nanosonics Limited has continued its on-market share buy-back program, targeting its ordinary fully paid shares listed on the ASX under the code NAN. The company reported that a total of 764,637 shares had been repurchased before the previous day,...
Nanosonics Sets Hybrid 2026 AGM With Expanded Online Access
Oct 1, 2026
Nanosonics Limited has convened its 2026 Annual General Meeting for 4 November 2026 at 11.00am AEDT, to be held as a hybrid event at its Macquarie Park offices and via an online platform. Shareholders can attend in person or online, lodge proxies ...
Nanosonics Updates Market on Progress of On-Market Share Buy-Back
Sep 30, 2026
Nanosonics Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program. The company reported that a total of 664,637 ordinary fully paid shares had been repurchased prior to the most recent tradin...
Nanosonics Updates Market on Progress of On-Market Share Buy-Back
Sep 29, 2026
Nanosonics Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for ordinary fully paid shares. The latest daily update, dated 29 September 2026, reports that a total of 564,637 shares had ...
Nanosonics Updates Market on Progress of On-Market Share Buy-Back
Sep 28, 2026
Nanosonics Limited has provided an updated notification to the ASX on its ongoing on-market share buy-back program for its ordinary fully paid shares. The latest daily disclosure shows that a total of 464,637 shares had been repurchased before the...
Nanosonics Updates Investors on Daily Progress of On‑Market Share Buy‑Back
Sep 25, 2026
Nanosonics Limited has provided an updated notification to the ASX on its ongoing on‑market share buy‑back program involving its ordinary fully paid shares. The latest daily report shows a cumulative 364,637 shares repurchased before t...
Nanosonics Director Boosts Shareholding Through Equity Plan Exercise
Sep 24, 2026
Nanosonics Limited has reported a change in the securities held by director Michael Kavanagh following the exercise of service rights under the company’s equity plan. The transaction involved converting 21,914 service rights into ordinary sh...
Nanosonics Updates Market on Progress of Daily Share Buy-Back
Sep 23, 2026
Nanosonics Limited has provided an update on its ongoing on-market share buy-back program, confirming that a total of 189,637 ordinary fully paid shares had been repurchased before the previous trading day. The company reported that a further 75,0...
Nanosonics Reports Lapse of Performance Rights in Routine Capital Adjustment
Sep 23, 2026
Nanosonics Limited has reported the lapse of 8,418 performance rights, which ceased due to conditions attached to those rights not being met or becoming incapable of being satisfied as of 22 September 2026. The cessation marginally reduces the com...
Nanosonics Seeks ASX Quotation for New Employee Incentive Shares
Sep 23, 2026
Nanosonics Limited has applied for quotation on the ASX of 256,760 new ordinary fully paid shares issued on 22 September 2026 under its employee incentive scheme. The newly issued securities, which are not subject to transfer restrictions, will ex...
Nanosonics Updates Daily On-Market Share Buy-Back Activity
Sep 22, 2026
Nanosonics Limited has issued an update on its ongoing on-market share buy-back program, confirming a daily buy-back notification for its ordinary fully paid shares traded under the ASX code NAN. The latest filing reports that 50,886 shares were r...
Nanosonics Updates Investors on Ongoing On‑Market Share Buy‑Back
Sep 21, 2026
Nanosonics Limited, an ASX‑listed medical technology company specialising in infection prevention devices, continues to actively manage its capital through an on‑market buy‑back of its ordinary fully paid shares. Operating in the...
Nanosonics Advances On-Market Buy-Back with Daily Share Purchases
Sep 18, 2026
Nanosonics Limited has initiated an on-market share buy-back of its ordinary fully paid shares, with an update confirming that 100,000 shares were repurchased on the previous trading day. The program, originally notified to the market in late Augu...
Nanosonics Reports Lapse of 192,623 Performance Rights, Trimming Potential Dilution
Aug 28, 2026
Nanosonics Limited has reported the lapse of 192,623 performance rights, which have ceased because the conditions attached to those rights were not satisfied or became incapable of being met. The change, disclosed as an update to the company’...
Nanosonics Corrects ASX Filing to Clarify Cancellation of Rights
Aug 28, 2026
Nanosonics Limited has clarified its earlier disclosure regarding changes to its issued capital on the ASX, specifying that the cessation involved rights rather than ordinary shares. The company issued a cancellation of the prior announcement to c...
Nanosonics Director Increases Indirect Shareholding Through On-Market Purchase
Aug 28, 2026
Nanosonics Limited has reported a change in the indirect shareholding of non-executive director Gerard Dalbosco, reflecting routine portfolio activity rather than a strategic shift. Dalbosco, through the Dalbosco Family Trust, increased his benefi...
Nanosonics Launches On-Market Share Buy-Back Program
Aug 26, 2026
Nanosonics Limited has announced an on-market share buy-back of its ordinary fully paid shares listed on the ASX under the code NAN. The program, disclosed on 26 August 2026, signals a capital management initiative that may influence the company&#...
Nanosonics Announces $40m FY27 Buyback to Support Growth and Capital Returns
Aug 24, 2026
Nanosonics Limited, an ASX-listed infection prevention specialist, generates revenue from its trophon disinfection systems and is preparing to commercialise its CORIS System. The company operates with a debt-free balance sheet and a sizable cash b...
Nanosonics Highlights Infection Prevention Scale in FY26 Investor Presentation
Aug 24, 2026
Nanosonics has released its FY26 investor presentation, highlighting its role in infection prevention and medical device reprocessing under the leadership of CEO and President Michael Kavanagh and CFO Jason Burriss. The presentation underscores th...
Nanosonics Expands Infection Prevention Reach in 2026 Annual Report
Aug 24, 2026
Nanosonics’ 2026 annual report highlights a cumulative installed base of 39,230 trophon units, protecting an estimated 31 million patients annually from ultrasound probe cross-contamination. The document outlines financial and operational pe...
Nanosonics Reports Major Emissions Cuts and Expands Patient Protection
Aug 24, 2026
Nanosonics Limited has released its Sustainability Report for the year ended 30 June 2026, highlighting significant progress across environmental and patient safety metrics. The company reports that its Scope 1 and 2 emissions fell 51% in the year...
Nanosonics Updates Corporate Governance Framework for 2026
Aug 24, 2026
Nanosonics has reaffirmed its commitment to robust corporate governance, releasing an updated Corporate Governance Statement covering the year to 30 June 2026. The document details how the company aligns its practices with ASX guidelines, clarifie...
Nanosonics Sets Date and Investor Call for FY26 Results
Aug 7, 2026
Nanosonics Limited has announced that it will release its full-year 2026 financial results on 25 August 2026, underscoring an upcoming key update for investors tracking its performance in the infection prevention sector. The company will host an i...
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.