Nano Labs Ltd
NA Nasdaq· Semiconductors & Related Devices
Last close · Oct 27, 2026
$1.66
KIRA · Stoqly’s AI analyst, in plain words
- Nano Labs Ltd had $3.8M of revenue in fiscal 2025, down 33.4% on the year before. Over five years, revenue changed +64.9% a year on average.
- Its operating margin was 264.4%, up 545.8 pts: of every 100 in sales, about 264 is left after running the business.
- Nano Labs Ltd made $18.8M of net profit in fiscal 2025.
- Free cash flow was −$15.1M in fiscal 2025, −401.1% of revenue.
- Nano Labs Ltd returned $0.2M to shareholders in fiscal 2025. The diluted share count rose 146.7%.
- Nano Labs Ltd owes $26.6M more than it holds in cash, about 2.3 years of operating profit.
Market cap
$33.0M
P/E
1.7x
Revenue
$3.8M
Net income
$18.8M
Free cash flow
−$15.1M
Operating margin
264.4%
Nano Labs Ltd in 30 seconds · fiscal 2025
Are sales growing?
−33.4%
No. Sales fell 33.4% last year.
Does it make a profit?
501.6%
Yes. It keeps 501.6% of every sale as profit.
Does profit turn into cash?
−401.1%
No. It spent more cash than it brought in.
Is debt under control?
2.3x
Keep an eye on it. Repaying its debt would take 2.3 years of operating profit.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
How is the share priced?
1.7x
One share costs 1.7 times its yearly profit per share.
What Nano Labs Ltd does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 13, 2026
- Legal name
- Nano Labs Ltd
- CIK
- 0001872302
Nano Labs Ltd · NA
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $6.1M | $146M | $11.1M | $5.6M | $3.8M |
| Revenue growth | 1,884.8% | 2,287.9% | −92.4% | −49.0% | −33.4% |
| Gross margin | −10.4% | 23.4% | −132.1% | 28.6% | −147.3% |
| Operating margin | −453.3% | 2.1% | −332.9% | −281.4% | 264.4% |
| Net income | −$27.1M | $4.6M | −$35.7M | −$15.7M | $18.8M |
| Net margin | −443.6% | 3.2% | −322.7% | −278.8% | 501.6% |
| Diluted EPS | −$0.60 | $0.87 | −$6.06 | −$1.95 | $0.95 |
| Cash | |||||
| Cash from operations | $11.1M | −$40.8M | −$18.8M | −$19.4M | −$15.1M |
| Capital expenditure | $1.3M | $2.6M | $14.9M | $5.1M | $0.0M |
| Free cash flow | $9.8M | −$43.4M | −$33.7M | −$24.4M | −$15.1M |
| FCF margin | 159.8% | −29.7% | −305.0% | −432.8% | −401.1% |
| Share buybacks | — | — | — | — | $0.2M |
| Share count change | −43.3% | −88.1% | 10.5% | 36.7% | 146.7% |
| Debt and strength | |||||
| Cash and short-term investments | $41.8M | $12.7M | $6.8M | $4.4M | $5.0M |
| Debt incl. finance leases | $0.0M | $2.5M | $20.2M | $26.6M | $31.5M |
| Shareholders' equity | −$3.9M | $23.8M | −$2.1M | $31.6M | $107M |
| Net debt / EBITDA | — | −2.8x | — | — | 2.3x |
| Current ratio | 1.0x | 1.6x | 0.5x | 1.6x | 2.1x |
| Interest coverage | — | — | — | −16.5x | 4.2x |
| Returns and quality | |||||
| Return on capital | — | 22.7% | −255.8% | −23.3% | 5.9% |
| Return on equity | — | 46.3% | −328.1% | −106.5% | 27.2% |
| Return on tangible equity | — | 27.6% | — | −62.4% | 18.8% |
| Piotroski F-score | — | 6 | 1 | 4 | 4 |
| Altman Z'' | −2.4 | 1.3 | −11.5 | −2.3 | 2.6 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.1M
1 insider
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Nano Labs Ltd · NA
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $1.66 a share, the company is worth $33.0M: 1.7 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001872302). Data updated October 24, 2026. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.