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Cartel Blue

CRTL
42
Tobacco · Consumer Defensive
Price
$0.00
+0.00 (+0.00%)
Market Cap
$26,091
Winston Score
42
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Apr 30, 2024
How the score breaks down
Quality
Mixed
Growth
Mixed
Cash Flow
Data not available
Stability
Mixed
Valuation
Good

Share count rising — dilution

+32.3% over 7y

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

Diluted shares outstanding: 122.0M (2017) → 161.3M (2024)

Winston Score History

The full picture

Cartel Blue, Inc. is a small apparel company that designs and sells clothing and related products to everyday consumers. The company operates in the broader fashion and lifestyle segment of the apparel industry, targeting retail customers through its branded merchandise. With a market cap near zero, it is a very small player in a crowded and competitive clothing market.

Cartel Blue generates revenue primarily through product sales, likely through direct-to-consumer and wholesale channels. The company appears to operate mainly in the United States. Its gross margin of around 10% is thin for an apparel brand, and its negative operating margin means it is currently spending more than it earns. The biggest risk facing Cartel Blue is its lack of scale — larger apparel companies have stronger supplier relationships, bigger marketing budgets, and more brand recognition, making it difficult for a small brand like this to grow profitably without a clear differentiating product or loyal customer base.

Score breakdown

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Quality

Profit per sale
Gross Margin
43.0%
Healthy — 43.0% gross margin
Profit after running costs
Operating Margin
19.6%
Healthy — 19.6% operating margin
Return on the money invested
ROCE
0.9%
Weak — 0.9% 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
3/4 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
N/A
Data not available

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Stability

What it owes vs what it owns
Debt / Equity
0.35
Conservative — low debt load (0.35)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
1.3x
Attractive valuation — P/E 1.3

P/E under 10. The price tag is small relative to last year's profit.

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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