🚀 WHY I’M WATCHING $VNP — 5N PLUS 👀
Could 5N Plus ($VNP) be an interesting Canadian play on the growing space + satellite + semiconductor economy? 🛰️📈
Here’s what caught my attention 👇
💰 Revenue Growth
FY2025: US$391.1M vs US$289.3M 🚀
➡️ ~35% YoY growth
Q2 2026: US$122.4M
➡️ +28% YoY
📈 Earnings Scaling
• FY2025 net earnings: US$50.6M vs US$14.7M
• Adjusted EBITDA: US$92.4M | +73%
Q2 2026:
• Net earnings: US$19.7M
• Adjusted EBITDA: US$26.6M
🎯 2026 EBITDA guidance: US$100–105M
🛰️ SPACE EXPOSURE
5N+ owns AZUR SPACE, which develops advanced solar cells for spacecraft ☀️🚀
➡️ 16M+ space-qualified devices delivered
➡️ 2,500+ satellite missions supported
🤝 MAJOR AEROSPACE & SPACE ECOSYSTEM NAMES
The AZUR SPACE ecosystem includes relationships across major aerospace and satellite companies such as:
🚀 SpaceX
✈️ Airbus
🛰️ Thales Alenia Space
🛡️ Northrop Grumman
🚀 Lockheed Martin
🛰️ Maxar
🚀 Sierra Space
🇯🇵 Mitsubishi Electric
Think “picks & shovels” for the space economy ⛏️🛰️
📦 BACKLOG
💰 US$420M
⏳ 313 days of annualized revenue
🔥 AZUR is also expanding production capacity:
+35% in 2024 → +30% in 2025 → +25% in 2026
🇺🇸 DEFENCE CATALYST
5N+ recently announced a US$7.3M U.S. government award to establish domestic GaAs component production for U.S. defence applications. 🛡️
📈 THE STOCK
The stock has had a wild run — roughly +165% YTD at its peak, followed by a ~45% pullback, while still remaining around +48% YTD.
That = strong investor interest + serious volatility ⚠️📊
🎯 MY TAKE
$VNP isn’t simply a space stock.
It’s a specialty semiconductor + critical materials company with exposure to:
🛰️ Space
☀️ Solar
🛡️ Defence
📡 Satellites
🔬 Advanced technology
🔥 Growth + backlog + capacity expansion + multiple long-term markets = definitely one to watch.
🎯 WALL STREET UPSIDE?
At around C$26–27/share, analyst estimates vary significantly.
Some current sources show targets around C$40–48, but targets can change quickly and should NOT be treated as guaranteed returns. 📊
$VNP surged roughly +165% YTD at its peak before suffering a massive pullback of around -45%. 😳
Even after that correction, the stock is still around +48% YTD.
That tells you two things:
🔥 Investors have become very interested in the 5N+ story
⚠️ But the stock can also be extremely volatile
So the question isn't just “How high can it go?”
It's whether the fundamental growth can justify the valuation.
👇 Would you buy $VNP at current levels?
Not financial advice. Do your own research.
