ADS Maritime Holding

ADS.OL

Marine Shipping · Industrials

Exchange

Oslo Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Good

Valuation

Mixed

Track this stock — start free trial

Winston Score History

The full picture

ADS Maritime Holding is a shipping and maritime services company based in Norway. It provides vessel management, crewing, and related support services to ship owners and operators. The company operates in the broader marine services industry, which supports the global movement of goods and energy by sea.

The company earns revenue by charging fees for managing ships and supplying trained crew members to vessel operators. It is a relatively small business with a market capitalization of around $200 million, and it faces stiff competition from larger, more established maritime service providers. The operating margin is deeply negative, which means the company is currently spending significantly more than it earns, and the main risk it faces is achieving a path to profitability before it exhausts its financial resources.

Growth Profile

For growth stock investors

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

Revenue Growth

+139.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+110.1% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

50.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 21M cash & investments

Quarterly Free Cash Flow

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

Revenue accelerating

ADS Maritime Holding grew revenue 140% 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

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

-54.8%

Losing money on operations — -54.8%

Return on the money invested

ROCE

-2.8%

Weak — -2.8% return on capital

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

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

+81.7%

Fast-growing sales (+81.7% YoY)

Profit growth

EPS YoY

-16.8%

Earnings shrinking (-16.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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

-157%

Weak — only -157% of profit becomes cash

Spare cash per sale

FCF Margin

-232.6%

Burning cash (-232.6%)

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

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

0.01

Conservative — low debt load (0.01)

Covers its interest

Interest Cover

N/A

Data not available

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)

28.4x

no trend

Growth-priced — P/E 28.4

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

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

Try free

Dividends

Not applicable for this business.

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

Start free trial