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Deep Value: cash covers more than 100% of the stock price

This company holds roughly $432M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Nano Dimension logo

Nano Dimension

NNDM
25
Computer Hardware · Technology
Price
$1.54
+0.02 (+1.32%)
Market Cap
$324.2M
Exchange
NASDAQ
Winston Score
25
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Share count falling — buybacks

13.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 248.1M (2021) → 215.7M (2025)

Winston Score History

The full picture

Nano Dimension is an Israeli technology company that makes specialized 3D printers used to produce electronics, mechanical parts, and other precision components. Its main products include the DragonFly line of printers, which print circuit boards and electronic devices layer by layer, and it has expanded through acquisitions into printing metals, plastics, and other materials. Its customers are mostly engineers and manufacturers in aerospace, defense, and medical industries who need small batches of complex parts quickly.

The company sells hardware, software, and related materials, generating revenue each time a customer buys a printer or consumable supplies. Nano Dimension operates globally, with roots in Israel and a growing presence in Europe and North America, and its technology addresses a niche where traditional manufacturing is too slow or expensive for prototyping. However, with an operating margin of roughly negative 62%, the company is spending far more than it earns, and its biggest challenge is reaching profitability before its cash reserves run out.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.1% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+100.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$30M/ year

Declining (-24% vs prior year)

29.3% of revenue

2.0x the sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

3.6%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~5 years

$432M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$432M cash & investments at current burn rate

Growth context

Nano Dimension is growing revenue at 12% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
45.9%
Healthy — 45.9% gross margin
Profit after running costs
Operating Margin
-23.5%
Losing money on operations — -23.5%
Return on the money invested
ROCE
-14.8%
Weak — -14.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+73.4%
Fast-growing sales (+73.4% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-55.4%
Burning cash (-55.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.04
Conservative — low debt load (0.04)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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