NANOSONICS LIMITED (NAN)
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NAN - NANOSONICS LIMITED

FNArena Sector : Medical Equipment & Devices
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 0.43
Index: ASX200 | ASX300 | ALL-ORDS

Nanosonics is an Australian medical device company manufacturing high level disinfection systems to reduce the spread of infection. Founded in 2001, the company listed on the ASX in 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.97

25 Jul
2024

-0.140

OPEN

$3.06

-4.50%

HIGH

$3.06

709,218

LOW

$2.97

TARGET
$3.40 14.5% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
NAN: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 6.6 3.0 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% - 54.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 98.9 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx6.6
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx167.5 M
Book Value Per Share xxxxxxxxxxxxxxx54.2
Net Operating Cash Flow xxxxxxxxxxxxxxx23.3 M
Net Profit Margin xxxxxxxxxxxxxxx11.87 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx13.14 %
Return on Invested Capital xxxxxxxxxxxxxxx12.44 %
Return on Assets xxxxxxxxxxxxxxx9.47 %
Return on Equity xxxxxxxxxxxxxxx13.14 %
Return on Total Capital xxxxxxxxxxxxxxx11.08 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx19.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx8 M
Total Debt xxxxxxxxxxxxxxx11 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx112 M
Price To Book Value xxxxxxxxxxxxxxx8.75

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx3.6 M
Capex % of Sales xxxxxxxxxxxxxxx2.13 %
Cost of Goods Sold xxxxxxxxxxxxxxx42 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx108 M
Research & Development xxxxxxxxxxxxxxx27 M
Investments - Total xxxxxxxxxxxxxxx1 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.1

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

16/07/2024

3

Hold

$3.45

16.16%

While a FY24 trading update by Nanosonics revealed a rebound in 2H revenues, Bell Potter observes total revenues remain underwhelming after a disappointing year for total shareholder return.

Management expects FY24 revenues of around $170m as compared to original guidance for between $164-171m.

Regulatory approval for the Coris device is the next likely share price catalyst, suggests the analysts. The target is raised to $3.45 from $3.00 after the carrying value of this device is increased following a regulatory submission, and after minor forecast earnings changes.

FORECAST
Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of 3.50 cents.
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.40 cents.

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

30/01/2024

5

Sell

$3.00

1.01%

A preliminary first half trading update from Nanosonics shows the company is anticipating revenues of $79.6m. As per Goldman Sachs, this is -16% below consensus expectations, and a -4.3% year-on-year decline.

The broker points out gross margins are up 80 basis points on a mix shift from lower capital sales, but operating expenditure has grown at double-digit rates, up 12%. This leaves first half earnings likely down -72% year-on-year, and -62% below consensus.

Goldman Sachs particularly points to further slowing of installation growth as concerning for the sustainability of revenue growth. With new installations declining -16%  over FY23, and already run-rating a further -15% down in FY23, the broker is concerned about what will sustain consumables sales.

The Sell rating is retained and the target price decreases to $3.00 from $3.80.

FORECAST
Goldman Sachs forecasts a full year FY24 dividend of 0.00 cents and EPS of 3.00 cents.
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.00 cents.
Access Stockbroker Research History >

NAN STOCK CHART

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