contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


modellportfolj-vi-tog-en-liten-post-canatu-i-portfoljen

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Atte Riikola

Juha Kinnunen

Rauli Juva

Canatu is a technology company active in deep technology that creates carbon nanotubes (Canatu CNT), related products and manufacturing equipment for the semiconductor, automotive and medical diagnostics industries. The company operates through two business models, firstly using their own reactors to develop and manufacture CNT products. Second, the company sells its CNT reactors and licenses its related technology, allowing customers to produce the products themselves under a limited license.

Inderes              ASML:n tilaukset kehittyivät Q4:llä vahvasti tekoälyinvestointien jatkuessa -...    Yhtiön näkymät ennakoivat odotetusti kasvun jatkuvan tänä vuonna tekoälyinvestointien vetämänä

Based on non-public ASML sources, I have come to the understanding that ASML will introduce CNT pellicles as standard in new low-NA EUV systems starting from 2027 (NXE:3800F will be the first 600W system). And it will be CNT from there on out. Until now, I was under the impression that CNT would primarily be for High-NA systems due to higher power levels, but the threshold seems to be the 600W limit, regardless of whether it’s low or high. In ASML’s plans, power levels are increased annually and low-NA will continue well into the 2030s. Later, the NXE:4000 series will follow. As we know, in a commercial sense, the number of low-NA systems will be significantly higher than High-NA in the coming years. An example is TSMC, which is currently projected to use 40 low-NA systems for its future 1.4nm production in 2028 (see previous discussions). For me, reaching this higher level of enlightenment was a real game changer in this case. DYOR. Not investment advice.

I see it as a fair way to motivate employees. In the US, stock-based compensation often means employees receive shares for free. Here, employees only get bonus shares if they first invest their own money and commit to holding the shares long term. In context, that seems to be positive.

How can you get a positive signal out of that? I can’t for the life of me see anything in it that would be positive for an ordinary shareholder.

Today’s News Summary: Canatu has announced the launch of its second Employee Share Saving Plan, aimed at encouraging employees to invest in the company and hold shares long term. The program applies to approximately 170 employees, including management. The saving period begins on March 1, 2026, with bonus shares granted only if the shares are held until December 31, 2028. Standard employees will receive one free share for every two shares purchased, with the potential to reach a 1:1 ratio if performance targets are met. Management participants face stricter conditions, receiving one free share for every three purchased. The maximum estimated dilution is 59,516 shares (Series A), which is minimal relative to the total share count. Overall, the program seems to be a positive signal!                   Canatu              The Board of Directors of Canatu Plc has resolved to launch the second plan...

In the initiation of coverage report, I outlined the upcoming dilution as follows:  Additionally, approximately 2.2 million shares may still be issued through incentive programs. So, if you invest in Canatu and expect success, it is advisable to use a share count of at least somewhere between 44–46 million in your calculations. However, it is worth remembering that these warrants also bring capital into the company if a conventional subscription is used (as assumed in our outlines). Alternatively, with a net exercise method, hardly any capital comes in, but the dilution is also smaller.

AI provides the following information: Regarding Canatu Oyj’s options and warrants and how they may affect the company’s share count by 2029:   1) What do Canatu’s options and warrants entitle to?  Warrants Canatu has issued three types of warrants that entitle the holder to subscribe for new Series A shares: founder warrants, sponsor warrants, and investor warrants.   Founder warrants: ~495,833 pcs, entitle to 1 share per warrant.   Sponsor warrants: ~2,337,500 pcs, also one share per warrant.   Investor warrants: maximum 3,364,998 pcs, one new Series A share per warrant.   The subscription period for investor warrants ends on October 17, 2029.  All warrants entitle the holder to subscribe for new shares, but their validity and subscription periods vary.   Option Programs Canatu has also issued two option programs:   Option Program 2024-I:  A total of 1,676,752 options, each entitling the holder to subscribe for one new Series A share.    Option Program 2024-II:  A maximum of 500,074 options, which may vest and entitle the holder to subscribe for shares if certain share price conditions are met (e.g., share price exceeding different price hurdles).     Some of the options have not yet vested — they depend on the development of the share price before certain deadlines (until 2027/2028).   2) Share registration and current situation Canatu has already managed to register several shares subscribed based on warrants and options during 2025:  For example, shares subscribed with investor warrants:  In the second subscription window, 4,707 new Series A shares were subscribed (May 21, 2025).   At the end of 2025 after use of warrants:  Total Series A shares: 33,723,816 pcs, Series B shares: 1,050,000 pcs, Series C: 0 pcs → 34,773,816 shares and votes in total.   New shares have also been registered through the option program in 2025:  For example, 25,832 shares subscribed with 2024-I options registered (May 2025).    3) Impact on share count at the end of 2029  The actual impact depends on:   How many warrants are subscribed for shares   Investor warrants can be exercised until October 17, 2029.   A maximum of 3,364,998 new shares from this group.     How many options vest and are exercised   Option Program 2024-I allows for 1,676,752 new shares.   Option Program 2024-II could potentially add up to 500,074 additional shares if the price conditions are fully met.       Potential maximum expansion of shares by 2029  Warrants: maximum ~3.36 million new shares   Options (2024-I): ~1.68 million   Options (2024-II, possible): ~0.50 million  ＝ Total up to approximately 5.5 million new shares  This is, however, a theoretical maximum, which requires that all warrants and options are subscribed and vested before they expire.   Summary of the impact     Right Maximum shares Subscription/Vesting period     Investor warrants 3,364,998 Oct 30, 2024 – Oct 17, 2029   Options 2024-I 1,676,752 2024 – Dec 31, 2029   Options 2024-II 500,074 According to various terms 2025–2028     Total up to ~5.5M additional shares — potential dilution compared to the current ~34.8M shares.

Canatu

Vi köpte Canatu, ett företag som tillverkar avancerade kolnanorör, som ett nytt företag till Modellportföljen.


Automatisk &#xf6;vers&#xe4;ttning: Ursprungligen publicerad p&#xe5; finska 2025-12-09 09:33 GMT. Ge feedback <a href="https://forms.office.com/e/Q3HWRqeAY2">h&#xe4;r</a>.Vi k&#xf6;pte Canatu, ett f&#xf6;retag som tillverkar avancerade kolnanor&#xf6;r, som ett nytt f&#xf6;retag till Modellportf&#xf6;ljen. Efter SPAC-noteringen i september 2024 har Canatu tvingats driva sina ambiti&#xf6;sa tillv&#xe4;xtm&#xe5;l fram&#xe5;t, och aktien har varit under press i &#xe5;r. Vi anser att f&#xf6;retagets l&#xe5;ngsiktiga potential fortfarande &#xe4;r intakt, och inom halvledarsektorn f&#xf6;rv&#xe4;ntas efterfr&#xe5;gan p&#xe5; f&#xf6;retagets EUV pellicle-filmer tillverkade av kolnanor&#xf6;r att accelerera under de kommande &#xe5;ren. F&#xf6;retagets v&#xe4;rdering (2025e-2026e EV/S 14x-7x) kr&#xe4;ver stark tillv&#xe4;xt under de kommande &#xe5;ren, men vi ser en realistisk v&#xe4;g f&#xf6;r f&#xf6;retaget att m&#xe5;ngdubbla sin oms&#xe4;ttning under de kommande 5 &#xe5;ren. Om detta f&#xf6;rverkligas skulle aktien, enligt v&#xe5;r st&#xe5;ndpunkt, &#xe4;ven erbjuda en utm&#xe4;rkt avkastning fr&#xe5;n nuvarande niv&#xe5;er. P&#xe5; grund av en betydligt h&#xf6;gre riskniv&#xe5; &#xe4;n genomsnittet tog vi in f&#xf6;retaget i Modellportf&#xf6;ljen med en mindre vikt p&#xe5; 3,5 %. I och med aff&#xe4;ren minskade Modellportf&#xf6;ljens kassavikt till drygt 13 %.

	2024	25e	26e
Revenue	22.0	14.9	29.8
growth-%	62.1 %	-32.4 %	100.1 %
EBIT (adj.)	-4.8	-11.6	-7.6
EBIT-% (adj.)	-21.9 %	-78.2 %	-25.5 %
EPS (adj.)	-0.01	-0.24	-0.15
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	neg.	neg.	neg.
EV/EBITDA	neg.	neg.	neg.

Modellportfölj: Vi tog en liten post Canatu i portföljen

Key Estimate Figures2025-08-31

Forum discussions