Nynomic AG
Nynomic makes optical instruments that help customers measure materials, inspect products and monitor production.
Overview
Latest results
Jan–Jun 2026 · Reported in EUR
Latest financial publication
First-half 2026 results
Investment Thesis
Using light to measure materials and production
European Tech Equities analysis ·
The investment case
Manufacturers need better information about what they are making, particularly when waste, consistency or material use matters. Nynomic can benefit when customers add optical measurement to their processes, but demand still depends on their investment budgets.
Evidence of progress
H1 2026 revenue rose to €47.7m and operating profit reached €1.8m, compared with a loss a year earlier. The order book grew to €63.5m. This shows a recovery after weaker trading, while delivery and profitability still determine how much value those orders create.
What drives demand
Applications span food, agriculture, industrial measurement and semiconductor production. This breadth gives the group several routes to growth, although a broad set of end markets is not the same as guaranteed recurring revenue.
Profit and cash generation
H1 2026 operating cash flow was €2.2m, close to €2.1m of cash capital expenditure. June cash was €12.3m against €17.6m of bank borrowing and leases. The full-year outlook called for €100–105m of revenue and a 6–8% operating margin; these remain management targets.
What the valuation assumes
The recovery in orders needs to be assessed alongside margins, cash generation and the price paid for acquired businesses. Comparing the share price only with the size of the photonics industry would overlook those practical constraints.
What would weaken the case
- Customers can delay investment in instruments and production equipment.
- Acquisitions add integration work and the risk that recorded goodwill will not be supported by future earnings.
- Orders may arrive unevenly, while employee and development costs continue between projects.
Sources
Financials
The business in numbers
Latest
Income statement
Cash flow
Balance sheet
Sources and details
Each statement retains its reporting period. Charts use comparable periods and a shared accounting basis; a dash means the figure has not been verified on European Tech Equities.
Calculated: margins = profit ÷ revenue; free cash flow = operating cash flow less capital expenditure; net debt = debt less cash; liabilities = assets less equity. The company-specific notes explain what debt includes. Negative net debt represents net cash. Quarterly flows cover each individual quarter; balance sheet figures are at period end.
Amounts are in EUR million. Net income is the consolidated result including non-controlling interests; basic EPS is attributable to parent-company shareholders. FY2024 net income includes a EUR4.0m loss from discontinued operations. Debt includes bank borrowing and leases. Cash capital expenditure uses the cash-flow statement, excluding lease additions and acquisitions.
Annual
Income statement
Cash flow
Balance sheet
Sources and details
Each statement retains its reporting period. Charts use comparable periods and a shared accounting basis; a dash means the figure has not been verified on European Tech Equities.
Calculated: margins = profit ÷ revenue; free cash flow = operating cash flow less capital expenditure; net debt = debt less cash; liabilities = assets less equity. The company-specific notes explain what debt includes. Negative net debt represents net cash. Quarterly flows cover each individual quarter; balance sheet figures are at period end.
Amounts are in EUR million. Net income is the consolidated result including non-controlling interests; basic EPS is attributable to parent-company shareholders. FY2024 net income includes a EUR4.0m loss from discontinued operations. Debt includes bank borrowing and leases. Cash capital expenditure uses the cash-flow statement, excluding lease additions and acquisitions.
Half-year
Income statement
Cash flow
Balance sheet
Sources and details
Each statement retains its reporting period. Charts use comparable periods and a shared accounting basis; a dash means the figure has not been verified on European Tech Equities.
Calculated: margins = profit ÷ revenue; free cash flow = operating cash flow less capital expenditure; net debt = debt less cash; liabilities = assets less equity. The company-specific notes explain what debt includes. Negative net debt represents net cash. Quarterly flows cover each individual quarter; balance sheet figures are at period end.
Amounts are in EUR million. Net income is the consolidated result including non-controlling interests; basic EPS is attributable to parent-company shareholders. FY2024 net income includes a EUR4.0m loss from discontinued operations. Debt includes bank borrowing and leases. Cash capital expenditure uses the cash-flow statement, excluding lease additions and acquisitions.
Performance
About these figures
Dates link to the original reports. Bars compare the same period a year earlier, on a consistent accounting basis. Arrows show whether the number rose or fell, not whether it is good or bad for the business.
Research & updates
Feedback on Nynomic’s presentation at the Hamburg Investor Days (HIT): Montega Research sees clear confirmation of the turnaround
m-u-t wins a gas-measurement order from an energy customer
Nynomic AG: Major Order in Gas Measurement Technology Accelerates Growth in the Clean Tech Segment
First-half 2026 results
Montega Research Update on Half-Year Results: Growth Momentum Accelerates Significantly / Price Target for Nynomic Shares Raised from EUR 27.00 to EUR 30.00
Interviews
Interviews are coming soon
No interviews with Nynomic AG have been published yet.
Sources
Sources & data dates
Financial figures link to the company’s publications and retain their reporting period. Share prices have their own closing dates.
H1 2025 · Published Aug 31, 2026 · Checked Oct 30, 2026
H1 2026 · Published Aug 31, 2026 · Checked Oct 30, 2026
FY2024 · Published May 21, 2026 · Checked Oct 30, 2026
FY2025 · Published May 21, 2026 · Checked Oct 30, 2026
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