Deep Value: cash covers more than 100% of the stock price

This company holds roughly $41M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Aurora Mobile Limited

Software - Application · Technology

Price

$5.91

-0.17 (-2.80%)

Market Cap

$35.3M

Exchange

NASDAQ Global Market

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Good

Stability

Exceptional

Valuation

Weak

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Share count rising — dilution

+2.0% over 4y

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

Diluted shares outstanding: 5.9M (2021) → 6.0M (2025)

Winston Score History

The full picture

Aurora Mobile Limited is a Chinese technology company that helps app developers send push notifications and messages to users on mobile devices. Its main product, JPush, is one of China's most widely used push notification platforms, serving thousands of mobile apps across industries like e-commerce, finance, and gaming. The company also offers data analytics tools that help businesses understand how people use their apps.

Aurora Mobile makes money by charging developers and businesses for access to its messaging and analytics services, mostly through subscription and usage-based fees. It operates almost entirely in China and works with a large number of app developers, giving it a broad data network that is difficult for smaller rivals to replicate quickly. However, the company faces real risks from tighter Chinese data privacy regulations and intense competition from larger tech platforms that offer similar tools bundled into bigger ecosystems.

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

+4.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+139.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

¥0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (15%)

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

Insider Activity

8.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

¥253M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

Aurora Mobile Limited is growing revenue at 4% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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

71.0%

Premium pricing power — 71.0% gross margin

Profit after running costs

Operating Margin

0.2%

Thin — 0.2% operating margin

Return on the money invested

ROCE

1.7%

Weak — 1.7% 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

+10.7%

Steady sales growth (+10.7% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

5912%

Turns 5912% of profit into real cash

Spare cash per sale

FCF Margin

-23.1%

Burning cash (-23.1%)

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

0.06

Conservative — low debt load (0.06)

Covers its interest

Interest Cover

28.27x

Comfortably covers interest (28.3x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

40.5x

Pricey — P/E 40.5

P/E over 35. The market is pricing in heavy, sustained growth.

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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