WinstonWınston
Back
2020 Bulkers logo

2020 Bulkers

2020.OL
78
Marine Shipping · Industrials
Exchange
Oslo Stock Exchange
Winston Score
78
Winston is happy
A high-quality business with solid fundamentals.
Data as of Aug 23, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Exceptional
Growth
Strong
Cash Flow
Mixed
Stability
Strong
Valuation
Good
Dividends
Exceptional
Track this stock — start free trial

Winston Score History

The full picture

2020 Bulkers Ltd. is a shipping company based in Bermuda that owns and operates large dry bulk cargo ships called Newcastlemax vessels. These ships carry raw materials like iron ore, coal, and grain across the world's oceans for industrial customers such as steel mills and power plants. The company owns a small, specialized fleet of some of the largest bulk carriers allowed into certain major ports.

The company makes money by leasing its ships to customers under time-charter contracts, where customers pay a fixed daily rate to use the vessels. This model produces steady, predictable revenue and explains the unusually high margins, since most operating costs are passed to the charterer. 2020 Bulkers operates globally, with trade routes heavily tied to demand from Asia, particularly China. The main risk the company faces is that dry bulk shipping rates are highly cyclical and can drop sharply if global demand for steel or energy slows down.

Growth Profile

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

Revenue Growth

>+1,000% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

20.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 274M cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

2020 Bulkers grew revenue 1733% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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
98.0%
Premium pricing power — 98.0% gross margin
Profit after running costs
Operating Margin
97.2%
Excellent — 97.2% operating margin
Return on the money invested
ROCE
61.9%
Exceptional — 61.9% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth
Sales YoY
+254.6%
Fast-growing sales (+254.6% YoY)
Profit growth
EPS YoY
+466.5%
Earnings growing fast (+466.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash
Cash Conversion
20%
Weak — only 20% of profit becomes cash
Spare cash per sale
FCF Margin
17.0%
Converts sales into free cash efficiently (17.0%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns
Debt / Equity
0.06
Conservative — low debt load (0.06)
Covers its interest
Interest Cover
7.82x
Adequate interest coverage (7.8x)

Interest coverage between 3 and 8. Profits cover interest several times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit
P/E Ratio (TTM)
0.0x
no trend
Attractive valuation — P/E 0.0

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
-53.2
SLOWING
Earnings expected to fall — forward P/E higher than today

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend
Dividend Yield
4341.93%
no trend
Healthy income — 4341.93% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
+1616.5%
no trend
Dividend growing fast (1616.5% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free
🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.
Start free trial