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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
Installed Base and Recurring Revenue
A larger installed base expands the pool generating consumables and service revenue, improving recurring visibility beyond one-off placements. Continued upgrades support lifecycle monetisation, while annuity growth shows the ecosystem is scaling.
Negative Factors
Growth Softness and APAC Weakness
The recent revenue slowdown indicates execution and market-development challenges despite longer-term growth. APAC weakness, linked to placement mix and rental models, may limit geographic diversification and delay recovery in regional demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Installed Base and Recurring Revenue
A larger installed base expands the pool generating consumables and service revenue, improving recurring visibility beyond one-off placements. Continued upgrades support lifecycle monetisation, while annuity growth shows the ecosystem is scaling.
Read all positive factors
Nanosonics Limited (NAN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$824.99M
Dividend YieldN/A
Average Volume (3M)1.11M
Price to Earnings (P/E)46.9
Beta (1Y)0.35
Revenue Growth2.59%
EPS Growth-13.36%
CountryAU
Employees508
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.06
Shares Outstanding298,910,900
10 Day Avg. Volume2,458,169
30 Day Avg. Volume1,114,021
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$3.10Price Target Upside1.64% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)0.08
Revenue Forecast (FY)AU$233.05M
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 makes money primarily by selling its trophon ultrasound probe disinfection ecosystem and then earning recurring revenue from ongoing use. Revenue is generated through: (1) Capital equipment sales: one-off sales of trophon disinfection u...
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
Negative
3.05
Price Trends
3.23
Negative
3.28
Negative
3.55
Negative
Market Momentum
-0.17
Positive
32.72
Neutral
12.23
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NAN, the sentiment is Negative. The current price of 3.05 is below the 20-day moving average (MA) of 3.23, below the 50-day MA of 3.23, and below the 200-day MA of 3.55, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 32.72 is Neutral, neither overbought nor oversold. The STOCH value of 12.23 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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$5.90B | 20.86 | 10.52% | 2.26% | 1.90% | 99.19% | |
69 Neutral | AU$711.57M | 97.17 | 8.45% | ― | 12.94% | -44.50% | |
65 Neutral | AU$824.99M | 46.86 | 8.16% | ― | 2.59% | -13.36% | |
52 Neutral | AU$37.70M | -30.84 | -6.27% | ― | 0.29% | -148.39% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | AU$231.74M | -14.58 | -5.34% | 2.79% | 1.84% | -178.23% | |
43 Neutral | AU$25.99M | -42.50 | -0.62% | ― | -3.05% | 86.01% |
* Healthcare Sector Average
AU:NAN
Nanosonics Limited
2.76
-1.24
-31.00%
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Nanosonics Limited Corporate Events
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...
Nanosonics Lists New Shares on ASX from Employee Incentive Scheme
Jun 9, 2026
Nanosonics Limited has applied for quotation on the ASX of 91,445 new ordinary fully paid shares, issued on 9 June 2026 under an employee incentive scheme. The additional shares, which are not subject to transfer restrictions, modestly increase th...
JPMorgan exits substantial holder position in Nanosonics
May 31, 2026
JPMorgan Chase Co. and its affiliates have lodged a notice indicating they have ceased to be a substantial shareholder in Nanosonics, after a series of transactions involving securities lending, collateral movements and proprietary trading. The c...
UBS exits substantial holder position in Nanosonics Limited
May 28, 2026
UBS Group AG and its related bodies corporate have ceased to be substantial shareholders in Nanosonics Limited, according to a notice filed under Australia’s Corporations Law. The change reflects a reduction in UBS’s relevant interest ...
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.