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Adams

ADA.L
31
Asset Management · Financial Services
Price
3.50 GBp
+0.00 (+0.00%)
Market Cap
£5.4M
Exchange
London Stock Exchange
Winston Score
31
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 26, 2026 · filings through Mar 31, 2024
How the score breaks down
Quality
Mixed
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Data not available
Dividends
Weak

Share count rising — dilution

+57.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 92.8M (2020) → 145.9M (2024)

Winston Score History

The full picture

Adams Plc operates as a venture capital firm with a primary focus on early-stage investments. While its core interest lies in the biotechnology, life sciences, and technology sectors, it remains open to opportunities across diverse industries. The firm predominantly targets small and medium-sized enterprises (SMEs) situated within the UK and wider European region, although it will also evaluate global investment prospects. Its portfolio can include both private and publicly listed entities, and it is prepared to take either minority or majority equity stakes in the companies it backs.

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 declining

EPS Growth

+69.6% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

£0/ year

Rising (+100% vs prior year)

0.0% of revenue

R&D investment increasing — building for the future

Cash Runway

5+ years

£5M cash & investments at current burn rate

Revenue declining

Adams's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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.

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Quality

Profit per sale
Gross Margin
-161.9%
Thin — -161.9% gross margin
Profit after running costs
Operating Margin
130.9%
Excellent — 130.9% operating margin
Return on the money invested
ROCE
0.4%
Weak — 0.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
N/A
Data not available
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
-0%
Weak — only -0% of profit becomes cash
Spare cash per sale
FCF Margin
-67.0%
Burning cash (-67.0%)

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
N/A
Data not available
Covers its interest
Interest Cover
100.00x
Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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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

Dividend
Dividend Yield
1.14%
Small dividend — 1.14% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
-8.0%
Dividend cut (-8.0% YoY) — warning sign

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