Oxford Nanopore Technologies PLC OXFYY

Health CareHealthcare Equipment & SuppliesUnited Kingdom

Last close 11.43 USD on Nov 1, 2026, +61.1% year to date

Quant rating

Quant rating C Rank 136 of 211 in Health Care

Growth C 131 of 211
Valuation D 200 of 211
Quality D 173 of 211
Revisions D 161 of 211
Momentum A 6 of 211

Wall Street consensus Buy (1.92)Average target 2.72 USD −76.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 2.9B
Enterprise value: 2.7B
52-week range: 5.97 – 11.43
3-year range: 5.96 – 12.45
Dividend yield: –
Beta (5 years): –
Shares outstanding: 978M
Next earnings: Mar 1, 2027

About the company

Oxford Nanopore Technologies plc is engaged in the generation of molecular sensing technology based on nanopores. The Company has developed a deoxyribonucleic (DNA)/ ribonucleic acid (RNA) sequencing technology. The Company’s segments include Life Science Research Tools, which offers products and services for research use, and COVID Testing, which provides products for SAR-Cov-2 testing. Its sequencing technology offers real-time analysis, in fully scalable formats from pocket to population scale, that can analyze native DNA or RNA and sequence any length of fragment to achieve short to ultra-long read lengths. Its products include MinION, GridION, PromethION, Flongle and others. MinION is a real-time device for DNA and RNA sequencing. GridION is a benchtop device designed to run and analyze up to five MinION or Flongle Flow Cells. Flongle is an adapter for MinION or GridION that enables direct, real-time DNA sequencing, or cDNA sequencing on smaller, single-use flow cells.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	302	229	216	240	181	–
Revenue growth	31.6%	6.1%	−10.1%	32.9%	16.2%	14.1%
EPS (basic, normalized)	−0.18	−0.22	−0.21	−0.17	−0.15	–
EPS growth	–	–	–	–	–	–
Gross margin	58.6%	57.5%	53.3%	62.3%	54.8%	57.3%
Net margin	−64.9%	−79.8%	−91.1%	−45.8%	−125.4%	−81.4%
ROE	−27.7%	−23.8%	−23.1%	−13.0%	−37.7%	−25.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	302	+31.6%	9.0x	−116	+25.8%	−23.4x	−0.18	+20.1%	−65.0x
2026	356	+17.9%	7.6x	−50.4	+56.6%	−54.0x	−0.14	+22.5%	−84.0x
2027	400	+12.4%	6.8x	−22.8	+54.8%	−119.3x	−0.10	+28.8%	−118.0x
2028	472	+18.2%	5.8x	26.9	+217.9%	101.1x	−0.06	+42.0%	−203.5x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	356	−0.3%	+0.5%	−2.5%	−0.14	+1.0%	+12.2%	+13.2%
2027	400	−1.3%	−6.8%	−12.5%	−0.10	−1.4%	+4.9%	+1.5%
2028	472	−1.7%	−9.5%	−15.4%	−0.06	−10.0%	−18.0%	−59.2%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Healthcare Equipment & Supplies

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
OXFYY Oxford Nanopore Technologies PLC	2.9B	–	−64.9%	5.12x	−84.0x	−118.0x	−54.0x	−119.3x
ATRC AtriCure, Inc.	3.1B	−1.62x	−2.1%	6.03x	405.3x	138.2x	34.5x	29.6x
ALFRY Alfresa Holdings Corp	3.0B	−3.06x	1.3%	0.89x	16.6x	14.6x	6.1x	5.9x
AXGN AxoGen, Inc.	2.9B	−3.99x	−7.0%	10.34x	94.8x	68.3x	80.0x	56.7x
AMBBY Ambu A/S	2.9B	−0.11x	10.1%	3.52x	32.9x	25.5x	15.5x	12.9x
NEOG Neogen Corporation	2.6B	3.39x	−0.9%	1.24x	−66.9x	−136.4x	17.6x	16.9x
Mean		−1.08x	−10.6%	4.52x	66.5x	−1.3x	16.6x	0.5x
Median		−1.62x	−1.5%	4.32x	24.8x	20.0x	16.5x	14.9x

Technical analysis

1M+17.7%
3M+91.5%
1Y+30.2%
3Y+85.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Oxford Nanopore Technologies PLC, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	302	229	216	240	181	156
Cost of revenue	125	97.3	101	90.5	81.8	91.6
Gross profit	177	132	115	150	99.0	64.1
Selling, general & administrative expenses	240	199	198	190	219	97.6
Research & development	132	124	132	78.4	103	66.4
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	17.1	0.9	−0.2	2.7	1.7	–
Other operating expenses	0	0	0	0	0	0
Operating income	−212	−191	−214	−122	−224	−99.9
Net interest income (expense)	23.2	16.4	23.8	−1.6	−0.3	−0.1
Gain (loss) on sale of assets	–	–	0	22.5	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	−188	−175	−191	−101	−225	−100
Provision for taxes	7.1	7.8	6.0	9.2	2.2	−16.3
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−196	−183	−197	−110	−227	−83.7
Extraordinary items	–	–	–	–	–	–
Net income	−196	−183	−197	−110	−227	−83.7
EBIT, normalized	−189	−181	−210	−118	−223	−99.9
EBITDA, normalized	−122	−127	−157	−79.5	−189	−76.2
Basic EPS, normalized	−0.18	−0.22	−0.21	−0.17	−0.15	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Oxford Nanopore Technologies PLC, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	344	423	344	576	837	111
Receivables	89.7	86.8	79.6	74.3	82.5	104
Total inventory	110	124	129	106	85.3	48.7
Prepaid expenses	22.4	16.2	16.3	12.9	11.0	14.8
Other current assets	0	0	0.3	2.5	0	0.1
Total current assets	566	651	569	772	1,016	278
Property, plant & equipment	125	127	105	76.5	83.8	72.7
Goodwill	–	–	–	–	–	–
Intangibles	75.2	54.8	41.9	36.3	31.1	31.3
Long-term investments	69.0	93.0	266	103	0.3	0.7
Note receivable	–	–	–	–	–	–
Other long-term assets	3.6	3.3	7.0	9.3	8.2	2.0
Total assets	839	928	989	997	1,139	384
Liabilities
Accounts payable	24.8	39.2	32.1	27.9	27.7	42.4
Payable/accrued	–	–	–	–	–	–
Accrued expenses	75.6	63.0	48.5	44.6	41.6	28.4
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	7.0	6.7	5.5	18.2	3.5	2.8
Other current liabilities	51.6	30.6	27.5	33.3	69.3	25.2
Total current liabilities	159	139	114	124	142	98.7
Long-term debt	48.9	50.8	47.5	23.0	30.0	29.5
Minority interest	–	–	–	–	–	–
Other liabilities	6.6	4.5	8.5	10.6	14.4	2.0
Total liabilities	214	195	170	158	187	130
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.1	0.1	0.1	0.1	0.1	0
Additional paid-in capital	1,060	975	889	759	844	835
Retained earnings (accumulated deficit)	−434	−241	−69.5	75.3	109	−580
Treasury stock	–	–	–	–	–	–
Other equity	−1.2	−0.8	−0.2	4.5	−0.4	−1.0
Total equity	624	734	820	839	952	254
Total liabilities & shareholders' equity	839	928	989	997	1,139	384

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Oxford Nanopore Technologies PLC, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−188	−175	−191	−101	−225	−100
Depreciation, depletion & amortization	67.1	54.2	53.0	38.6	33.4	23.7
Deferred taxes	–	–	–	–	–	–
Non-cash items	−2.0	−19.5	16.2	34.6	83.4	11.1
Changes in working capital	28.3	3.0	−53.3	−32.0	34.9	−22.0
Cash from operations	−95.1	−137	−175	−59.7	−72.8	−87.2
Investing activities
Capital expenditures	−61.6	−60.8	−34.7	−51.1	−41.7	−36.2
Other investing cash flows	137	79.6	−43.9	−28.5	−177	−0.6
Cash from investing	75.9	18.8	−78.7	−79.6	−219	−36.8
Financing activities
Financing cash flow items	−4.0	−6.2	−3.3	−4.7	−22.8	−4.5
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	1.2	98.3	85.7	−11.9	866	221
Cash from financing	−2.8	92.1	82.4	−16.6	843	217
Foreign exchange effects	−2.7	0.3	−2.4	−2.6	−0.2	−0.1
Net change in cash	−24.8	−26.3	−173	−159	551	92.7
Free cash flow	−157	−198	−210	−111	−115	−123

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.