NanoXplore (TSX:GRA) Stock Valuation, Peer Comparison & Price Targets

Q: What is the Fair Price of GRA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

GRA (CA$2.21) is trading above our estimate of [[fair value]] (CA$1.68)

Share Price vs Fair Value

What is the Fair Price of GRA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GRA (CA$2.21) is trading above our estimate of fair value (CA$1.68)

Significantly Below Fair Value: GRA is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GRA?

Key metric: As GRA is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for GRA. This is calculated by dividing GRA's market cap by their current revenue.
What is GRA's PS Ratio?
PS Ratio	2.8x
Sales	CA$134.72m
Market Cap	CA$387.28m

GRA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.9x
Enterprise Value/EBITDA	-795.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does GRA's PS Ratio compare to its peers?

The above table shows the PS ratio for GRA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	0.6x
CHE.UN Chemtrade Logistics Income Fund	0.8x	0.7%	CA$1.4b
BOS AirBoss of America	0.2x	9.0%	CA$114.8m
MX Methanex	0.8x	10.6%	CA$4.2b
IFOS Itafos	0.5x	n/a	CA$334.1m
GRA NanoXplore	2.8x	24.7%	CA$387.3m

Price-To-Sales vs Peers: GRA is expensive based on its Price-To-Sales Ratio (2.8x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

How does GRA's PS Ratio compare vs other companies in the CA Chemicals Industry?

3 Companies	Price / Sales	Estimated Growth	Market Cap
BOS AirBoss of America	0.2x	9.0%	US$82.08m
PRH Pearl River Holdings	0.08x	n/a	US$2.93m
GDNP.H good natured Products	0.03x	n/a	US$1.31m

No more companies available in this PS range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: GRA is expensive based on its Price-To-Sales Ratio (2.8x) compared to the Canadian Chemicals industry average (0.9x).

Price to Sales Ratio vs Fair Ratio

What is GRA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GRA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.8x
Fair PS Ratio	1.5x

Price-To-Sales vs Fair Ratio: GRA is expensive based on its Price-To-Sales Ratio (2.8x) compared to the estimated Fair Price-To-Sales Ratio (1.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GRA forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CA$2.21	CA$4.57 +106.7%	33.9%	CA$8.45	CA$3.25	n/a	8
Nov ’25	CA$2.41	CA$4.60 +90.9%	33.2%	CA$8.45	CA$3.25	n/a	8
Oct ’25	CA$2.20	CA$4.60 +109.1%	33.2%	CA$8.45	CA$3.25	n/a	8
Sep ’25	CA$2.25	CA$4.88 +116.7%	44.7%	CA$10.50	CA$3.25	n/a	8
Aug ’25	CA$2.44	CA$4.88 +99.8%	44.7%	CA$10.50	CA$3.25	n/a	8
Jul ’25	CA$2.47	CA$4.91 +98.6%	44.1%	CA$10.50	CA$3.25	n/a	8
Jun ’25	CA$2.68	CA$4.91 +83.1%	44.1%	CA$10.50	CA$3.25	n/a	8
May ’25	CA$2.48	CA$4.11 +65.6%	12.1%	CA$5.00	CA$3.25	n/a	7
Apr ’25	CA$2.56	CA$3.96 +54.9%	8.5%	CA$4.50	CA$3.25	n/a	7
Mar ’25	CA$2.71	CA$3.91 +44.1%	9.0%	CA$4.50	CA$3.25	n/a	8
Feb ’25	CA$2.12	CA$4.00 +88.7%	8.8%	CA$4.50	CA$3.25	n/a	7
Jan ’25	CA$2.43	CA$4.81 +98.0%	45.2%	CA$10.50	CA$3.25	n/a	8
Dec ’24	CA$2.04	CA$5.04 +146.8%	44.4%	CA$10.50	CA$4.00	n/a	7
Nov ’24	CA$2.17	CA$6.46 +197.9%	60.6%	CA$16.00	CA$4.00	CA$2.41	7
Oct ’24	CA$2.62	CA$6.61 +152.2%	58.2%	CA$16.00	CA$4.50	CA$2.20	7
Sep ’24	CA$3.03	CA$6.71 +121.6%	56.8%	CA$16.00	CA$4.50	CA$2.25	7
Aug ’24	CA$3.09	CA$6.71 +117.3%	56.8%	CA$16.00	CA$4.50	CA$2.44	7
Jul ’24	CA$3.24	CA$6.71 +107.2%	56.8%	CA$16.00	CA$4.50	CA$2.47	7
Jun ’24	CA$2.75	CA$7.00 +154.5%	57.9%	CA$16.00	CA$4.50	CA$2.68	6
May ’24	CA$3.02	CA$7.29 +141.4%	53.6%	CA$16.00	CA$5.00	CA$2.48	6
Apr ’24	CA$3.26	CA$7.25 +122.4%	49.9%	CA$16.00	CA$5.00	CA$2.56	7
Mar ’24	CA$3.00	CA$6.39 +113.1%	24.7%	CA$10.00	CA$5.00	CA$2.71	7
Feb ’24	CA$2.95	CA$6.54 +121.5%	23.5%	CA$10.00	CA$5.00	CA$2.12	7
Jan ’24	CA$2.60	CA$6.82 +162.4%	23.4%	CA$10.00	CA$5.00	CA$2.43	7
Dec ’23	CA$2.78	CA$7.36 +164.6%	37.7%	CA$13.75	CA$5.00	CA$2.04	7
Nov ’23	CA$3.35	CA$8.22 +145.4%	31.4%	CA$13.75	CA$6.00	CA$2.17	7

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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NanoXplore Valuation