Nanoco Group (NASDAQ: NANO)

Currency in GBP

Last close As at 27/03/2023


−0.10 (−0.46%)

Market capitalisation


Nanoco Group is a global leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, with c 560 patents. Focus applications are advanced electronics, displays, bio-imaging and horticulture.

The settlement ends all global litigation with Samsung, including the lawsuits in China and Germany. After deducting litigation costs, Nanoco will retain over $90m (£75m) net proceeds. The settlement will be paid in two equal tranches, one receivable by 5 March 2023 and the second by 3 February 2024. Nanoco intends to return a ‘material’ proportion of the proceeds to shareholders once the second payment has been received. Importantly, Nanoco retains full freedom to operate in all markets, territories, products and material types.



Equity Analyst

Anne Crow

Anne Margaret Crow

Director, TMT & Industrials

Key Management

  • Brian Tenner


  • Liam Gray


Balance Sheet

Forecast net cash (£m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual (14.0) (50.5) 8.6
Relative (9.0) (50.6) 9.6
52 week high/low 55.8p/20.6p


Nanoco Group has signed the final agreements to settle the litigation with Samsung on a no-fault basis for the alleged infringement of the group’s intellectual property, with Samsung paying Nanoco $150m (£125m) in cash. Nanoco’s H123 performance relating to the organic activities was slightly ahead of management’s expectations. We have revised our estimates to reflect both the settlement, which includes £3.0m in licence revenues recognisable in H223 and takes the group from negative to positive EBITDA for FY23, and the H123 trading update.

Y/E Jul Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2021A 2.1 (2.8) (4.7) (1.30) N/A N/A
2022A 2.5 (2.1) (4.6) (1.32) N/A N/A
2023E 6.0 1.0 (0.3) 0.05 418.0 74.8
2024E N/A N/A N/A N/A N/A N/A


Digital Marketing and Internet Media Technology Platform


MediaWatch – January 2023


IPO apocalypse


ESG, moving beyond the box tick


Direct tech investors

Subscribe to Edison

Get access to the very latest content matched to your personal investment style.

Sign up for free