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California Nanotechnologies
(CNO)
Select Model
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Rating:45Neutral
Price Target:
C$0.37
▲(18.06% Upside)
Action:Reiterated
Date:10/29/26
The score is held down primarily by weak financial performance, driven by significant TTM losses and renewed negative operating/free cash flow, which increase funding and execution risk. Technicals are more neutral-to-slightly constructive (above longer-term moving averages with non-extreme momentum), providing some support. Valuation remains constrained by negative earnings and no stated dividend yield.
Positive Factors
Improved balance sheet
The current capital structure appears more stable, with lower leverage and positive equity providing some financial resilience. This gives California Nanotechnologies greater flexibility to manage operations and pursue opportunities than during periods when equity was thin or negative.
Negative Factors
Deep operating losses
Deeply negative net and operating margins indicate that the current revenue base is not covering the company’s operating cost structure. Persistent losses would weaken retained capital, limit internally funded investment, and make a durable recovery dependent on significant operational improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved balance sheet
The current capital structure appears more stable, with lower leverage and positive equity providing some financial resilience. This gives California Nanotechnologies greater flexibility to manage operations and pursue opportunities than during periods when equity was thin or negative.
Read all positive factors
California Nanotechnologies (CNO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$18.71M
Dividend YieldN/A
Average Volume (3M)26.89K
Price to Earnings (P/E)―
Beta (1Y)2.49
Revenue Growth-29.28%
EPS Growth-95.12%
CountryCA
Employees20
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-0.04
Shares Outstanding46,764,660
10 Day Avg. Volume35,525
30 Day Avg. Volume26,885
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)5.15
Price to Sales (P/S)3.59
P/FCF Ratio-23.14
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)-0.04
Revenue Forecast (FY)C$3.78M
California Nanotechnologies Business Overview & Revenue Model
Company Description
California Nanotechnologies Corp. is dedicated to the research, advancement, and manufacturing of nanocrystalline materials, primarily achieved through the reduction of grain size. The company offers a comprehensive array of advanced material proc...
How the Company Makes Money
CNO makes money primarily by selling materials and charging for processing/manufacturing services associated with producing and refining advanced metal/alloy powders. Key revenue streams include: (1) materials sales—revenue from supplying nanostru...
California Nanotechnologies Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
45
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | May 2026 | May 2025 | May 2024 | May 2022 | May 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.16M | 2.83M | 6.22M | 3.34M | 1.36M | 1.06M |
| Gross Profit | -59.54K | -610.56K | 4.59M | 2.33M | 514.32K | 439.97K |
| EBITDA | -761.78K | -1.32M | 780.97K | 780.85K | 314.81K | 10.77K |
| Net Income | -1.92M | -1.89M | -158.33K | 381.68K | 200.60K | -161.40K |
Balance Sheet | ||||||
| Total Assets | 3.72M | 3.88M | 5.50M | 2.36M | 1.22M | 587.40K |
| Cash, Cash Equivalents and Short-Term Investments | 152.46K | 207.00K | 533.85K | 841.35K | 65.11K | 25.29K |
| Total Debt | 957.14K | 1.31M | 1.62M | 1.21M | 2.15M | 1.94M |
| Total Liabilities | 1.59M | 1.90M | 3.19M | 2.21M | 2.58M | 2.24M |
| Stockholders Equity | 2.13M | 1.98M | 2.32M | 145.97K | -1.36M | -1.66M |
Cash Flow | ||||||
| Free Cash Flow | -744.94K | -439.56K | 797.00K | 89.98K | 45.29K | 33.20K |
| Operating Cash Flow | -715.38K | -388.46K | 2.92M | 104.28K | 54.97K | 33.20K |
| Investing Cash Flow | -29.56K | -51.11K | -2.11M | -14.30K | -9.68K | 0.00 |
| Financing Cash Flow | 658.38K | 107.53K | -1.12M | 535.33K | -6.00K | -62.52K |
California Nanotechnologies Technical Analysis
Positive
0.31
Price Trends
0.37
Positive
0.34
Positive
0.31
Positive
Market Momentum
<0.01
Positive
52.77
Neutral
55.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CNO, the sentiment is Positive. The current price of 0.31 is below the 20-day moving average (MA) of 0.39, below the 50-day MA of 0.37, and below the 200-day MA of 0.31, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 52.77 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CNO.
California Nanotechnologies Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | C$172.54M | -20.79 | -5.06% | 2.20% | 6.10% | -46.82% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | C$94.63M | -5.62 | -81.75% | ― | ― | -42.93% | |
47 Neutral | C$260.86M | -8.22 | -969.63% | ― | 224.03% | -204.33% | |
45 Neutral | C$18.71M | -7.12 | -89.62% | ― | -29.28% | -95.12% | |
41 Neutral | C$5.25M | -5.25 | -24.00% | ― | ― | -904.55% |
* General Sector Average
TSE:CNO
California Nanotechnologies
0.40
0.01
2.56%
TSE:BOS
Airboss of America
6.35
2.07
48.23%
TSE:NANO
Nano One Materials
0.79
-0.97
-55.11%
TSE:GMG
Graphene Manufacturing Group Ltd
1.95
0.72
58.54%
TSE:SURE
SureNano Science Ltd
0.13
-0.02
-16.67%
California Nanotechnologies Corporate Events
Business Operations and StrategyFinancial Disclosures
California Nanotechnologies Grows Revenue and Order Book as Scale-Up Costs Drive Quarterly Loss
Positive
Oct 27, 2026
California Nanotechnologies reported Q2 fiscal 2027 revenue of US$956,794, up 23% year over year, driven partly by an equipment sale, though gross margin fell to 51% from 62% on an altered revenue mix. Adjusted EBITDA improved significantly and wa...
Business Operations and StrategyFinancial Disclosures
Cal Nano Turns Aerospace R&D Into Recurring Satellite Component Production
Positive
Oct 26, 2026
California Nanotechnologies has converted a year‑long research engagement with a Texas‑based aerospace customer into commercial production orders totaling US$147,000 for specialized components in commercial satellite systems. The initi...
Business Operations and Strategy
California Nanotechnologies Expands Santa Ana Facility to Boost Manufacturing Capacity
Positive
Oct 21, 2026
California Nanotechnologies has amended the lease for its Santa Ana manufacturing facility to add 15,500 square feet of adjacent space and increase available electrical capacity. The move expands the site by about 80% and is intended to support hi...
Business Operations and Strategy
California Nanotechnologies to Court Investors at Planet MicroCap Toronto
Positive
Oct 14, 2026
California Nanotechnologies Corp. will present to investors at the Planet MicroCap Showcase in Toronto on October 28, 2026, with CEO Eric Eyerman delivering a live presentation and QA session. The company is also offering in‑person one‑...
Business Operations and StrategyFinancial Disclosures
Cal Nano Secures Development Deal and $2 Million in Recent Orders
Positive
Sep 16, 2026
California Nanotechnologies Corp., a Los Angeles-area materials science specialist, processes metallurgical powders into advanced components using Spark Plasma Sintering and other technologies. Operating two manufacturing facilities, it supports F...
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.