Afentra

AET.L

Oil & Gas Exploration & Production · Energy

Exchange

London Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

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

How the score breaks down

Quality

Strong

Growth

Weak

Cash Flow

Weak

Stability

Strong

Valuation

Data not available

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Winston Score History

The full picture

Afentra plc is a small British oil and gas company focused on acquiring and producing oil in Africa. It buys stakes in existing oil fields rather than searching for new ones, targeting mature assets in countries like Angola and Côte d'Ivoire. The company's main customers are oil traders and refiners who purchase the crude oil it produces.

Afentra makes money by selling crude oil from its production assets, with revenue tied directly to global oil prices. It operates entirely in Africa and has a market value of around $200 million, making it a very small player in the global energy industry. Its strategy of buying proven, already-producing fields lowers exploration risk, but the company faces real challenges including oil price volatility, political risk in African markets, and the need to keep acquiring new assets to grow production over time.

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

-23.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-139.4% YoY

YoY Growth Rate

Earnings declining

Insider Activity

51.4%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~9 months

£10M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Afentra has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

36.9%

Modest — 36.9% gross margin

Profit after running costs

Operating Margin

21.7%

Excellent — 21.7% operating margin

Return on the money invested

ROCE

29.1%

Exceptional — 29.1% return on capital

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

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Growth

Sales growth

Sales YoY

-27.5%

Shrinking sales (-27.5% YoY)

Profit growth

EPS YoY

-100.3%

Earnings shrinking (-100.3% 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

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-13.5%

Burning cash (-13.5%)

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

0.33

Conservative — low debt load (0.33)

Covers its interest

Interest Cover

5.12x

Adequate interest coverage (5.1x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

N/A

no trend

Data not available

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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