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Ampco-Pittsburgh

AP
21
Manufacturing - Metal Fabrication · Industrials
Price
$8.80
+0.36 (+4.27%)
Market Cap
$178.9M
Winston Score
21
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Weak
Stability
Weak
Valuation
Data not available

Share count rising — dilution

+6.3% over 4y

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

Diluted shares outstanding: 19.0M (2021) → 20.1M (2025)

Winston Score History

The full picture

Ampco-Pittsburgh makes specialty metal products used in heavy industries like steel mills, paper mills, and power plants. Its two main business segments produce forged and cast rolls — the large metal cylinders that flatten steel into sheets — as well as air and liquid processing equipment like pumps, heat exchangers, and fans. The company has been operating for over a century and serves industrial customers across North America, Europe, and Asia.

Ampco-Pittsburgh earns revenue by selling these engineered metal products directly to industrial customers, with pricing tied to raw material costs and manufacturing contracts. It is a small company with a market cap around $200 million, and its competitive position comes from technical expertise in metallurgy and long-standing customer relationships in niche markets. However, its razor-thin operating margin of around 0.2% leaves very little room for error, and the company's main challenge is improving profitability amid volatile steel and energy input costs.

Growth Profile

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

Revenue Growth

-9.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+119.4% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

30.8%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~4 months

$8M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Ampco-Pittsburgh 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
21.6%
Thin — 21.6% gross margin
Profit after running costs
Operating Margin
4.9%
Thin — 4.9% operating margin
Return on the money invested
ROCE
5.2%
Weak — 5.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+3.3%
Slow sales growth (+3.3% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-0.9%
Burning cash (-0.9%)

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
4.45
Heavy debt load (4.45)
Covers its interest
Interest Cover
0.78x
Dangerous — barely covers interest (0.8x)

Interest coverage below 1. Their profits don't cover the interest bill.

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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

Not applicable for this business.
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