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Nano Labs Ltd is a fabless integrated circuit design company and product solution provider based in China. It specializes in developing high throughput computing chips, high performance computing chips, distributed computing and storage solutions, smart network interface cards, vision computing chips, and distributed rendering technologies. The company operates primarily through its subsidiaries, serving enterprise and individual customers in markets including the People's Republic of China, Hong Kong, Singapore, the United States, and other international regions. Nano Labs Ltd focuses on application-specific integrated circuit chips and related software research and development, positioning it within the semiconductors sector. Founded in 2019 and headquartered in Hangzhou, China, it plays a role in advancing computing and networking solutions for various high-performance applications.
$1.77
$0.03 (-1.67%)
EOD Jul 17, 2026
The business is unprofitable at the operating level (-396.84% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 33.5% YoY. Margins deteriorated 154.2pp alongside, both lines moving the wrong way.
Negative free cash flow of -¥108M. The business is consuming cash, not generating it. Operating margin contracted 154.2pp YoY, cost discipline may be slipping.
1.8x earnings. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
¥27M
▼ -33.5% YoY
Net Income (TTM)
¥126M
▲ +205.4% YoY
Op. Margin
-396.84%
▼ -154.2pp YoY
ROIC
-15.22%
▲ +11.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-¥108M
▲ +38.4% YoY
Op. Cash Flow (TTM)
¥74M
▲ +153.1% YoY
Net Debt
-¥143M
Net Cash Position
Cash & Equiv.
¥379M
3Y CAGR: -69.8%
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At a P/E of 1.8, Nano Labs (NA)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Nano Labs scores 30/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full . This is analysis, not investment advice.
Nano Labs scores 30 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a -396.8% operating margin and a -15.2% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
That depends on valuation and quality together, not either alone. you should weigh NA's valuation and scores 30/100 on quality (lower-quality). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.