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NanoXplore TSX:GRA Stock Report

Last Price


Market Cap







17 May, 2022


Company Financials +
GRA fundamental analysis
Snowflake Score
Future Growth2/6
Past Performance0/6
Financial Health5/6

GRA Stock Overview

NanoXplore Inc., a graphene company, manufactures and supplies graphene powder for use in industrial markets.

NanoXplore Competitors

Price History & Performance

Summary of all time highs, changes and price drops for NanoXplore
Historical stock prices
Current Share PriceCA$3.12
52 Week HighCA$9.03
52 Week LowCA$2.35
1 Month Change-21.21%
3 Month Change-29.89%
1 Year Change-7.42%
3 Year Change151.61%
5 Year Changen/a
Change since IPO215.15%

Recent News & Updates

Shareholder Returns

GRACA ChemicalsCA Market

Return vs Industry: GRA underperformed the Canadian Chemicals industry which returned 63.6% over the past year.

Return vs Market: GRA underperformed the Canadian Market which returned 4.3% over the past year.

Price Volatility

Is GRA's price volatile compared to industry and market?
GRA volatility
GRA Average Weekly Movement11.6%
Chemicals Industry Average Movement11.5%
Market Average Movement9.8%
10% most volatile stocks in CA Market16.7%
10% least volatile stocks in CA Market4.2%

Stable Share Price: GRA is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 12% a week.

Volatility Over Time: GRA's weekly volatility (12%) has been stable over the past year.

About the Company

2011n/aSoroush Nazarpour

NanoXplore Inc., a graphene company, manufactures and supplies graphene powder for use in industrial markets. It offers graphene-based solutions, including GrapheneBlack powder and graphene-enhanced masterbatch pellets. The company also provides standard and custom graphene-enhanced plastic and composite products to customers in transportation, packaging, electronics, and other industrial sectors.

NanoXplore Fundamentals Summary

How do NanoXplore's earnings and revenue compare to its market cap?
GRA fundamental statistics
Market CapCA$467.50m
Earnings (TTM)-CA$17.27m
Revenue (TTM)CA$85.91m


P/S Ratio


P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GRA income statement (TTM)
Cost of RevenueCA$77.14m
Gross ProfitCA$8.76m
Other ExpensesCA$26.03m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

May 17, 2022

Earnings per share (EPS)-0.10
Gross Margin10.20%
Net Profit Margin-20.10%
Debt/Equity Ratio10.9%

How did GRA perform over the long term?

See historical performance and comparison


Is NanoXplore undervalued compared to its fair value and its price relative to the market?

Valuation Score


Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


Price to Book (PB) ratio

Share Price vs. Fair Value

Below Fair Value: GRA (CA$3.12) is trading above our estimate of fair value (CA$0.81)

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

Price To Earnings Ratio

PE vs Industry: GRA is unprofitable, so we can't compare its PE Ratio to the Canadian Chemicals industry average.

PE vs Market: GRA is unprofitable, so we can't compare its PE Ratio to the Canadian market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate GRA's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: GRA is overvalued based on its PB Ratio (4.3x) compared to the CA Chemicals industry average (2.8x).

Future Growth

How is NanoXplore forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score


Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if GRA's forecast earnings growth is above the savings rate (1.6%).

Earnings vs Market: Insufficient data to determine if GRA's earnings are forecast to grow faster than the Canadian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: GRA's revenue (32.3% per year) is forecast to grow faster than the Canadian market (6.3% per year).

High Growth Revenue: GRA's revenue (32.3% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if GRA's Return on Equity is forecast to be high in 3 years time

Past Performance

How has NanoXplore performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GRA is currently unprofitable.

Growing Profit Margin: GRA is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: GRA is unprofitable, and losses have increased over the past 5 years at a rate of 28.3% per year.

Accelerating Growth: Unable to compare GRA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GRA is unprofitable, making it difficult to compare its past year earnings growth to the Chemicals industry (32.3%).

Return on Equity

High ROE: GRA has a negative Return on Equity (-14.28%), as it is currently unprofitable.

Financial Health

How is NanoXplore's financial position?

Financial Health Score


Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: GRA's short term assets (CA$92.3M) exceed its short term liabilities (CA$26.8M).

Long Term Liabilities: GRA's short term assets (CA$92.3M) exceed its long term liabilities (CA$21.8M).

Debt to Equity History and Analysis

Debt Level: GRA has more cash than its total debt.

Reducing Debt: GRA's debt to equity ratio has reduced from 134.9% to 10.9% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: GRA has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if GRA has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


What is NanoXplore current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate GRA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate GRA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if GRA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if GRA's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as GRA has not reported any payouts.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Soroush Nazarpour (35 yo)





Dr. Soroush Nazarpour, B.Sc, M.Sc, Ph.D. founded Nanoxplore Inc. in 2011. Dr. Nazarpour has been the President and Chief Executive Officer of Nanoxplore Inc. since 2011. He is a published author of two boo...

CEO Compensation Analysis

Compensation vs Market: Soroush's total compensation ($USD540.41K) is below average for companies of similar size in the Canadian market ($USD987.80K).

Compensation vs Earnings: Soroush's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: GRA's management team is seasoned and experienced (6.5 years average tenure).

Board Members

Experienced Board: GRA's board of directors are considered experienced (4.8 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: GRA insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.6%.

Top Shareholders

Company Information

NanoXplore Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: NanoXplore Inc.
  • Ticker: GRA
  • Exchange: TSX
  • Founded: 2011
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Implied Market Cap: CA$467.503m
  • Shares outstanding: 165.20m
  • Website:

Number of Employees


  • NanoXplore Inc.
  • 4500 Thimens Boulevard
  • Montreal
  • Quebec
  • H4R 2P2
  • Canada


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/17 00:00
End of Day Share Price2022/05/17 00:00
Annual Earnings2021/06/30

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.