Castellum

CTM

Information Technology Services · Technology

Price

$0.61

-0.01 (-1.13%)

Market Cap

$57.8M

Exchange

New York Stock Exchange American

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+418.6% over 4y

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

Diluted shares outstanding: 18.3M (2021) → 94.7M (2025)

Winston Score History

The full picture

Castellum, Inc. is a small technology services company that provides cybersecurity, software development, and IT support services. Its main customers are U.S. federal government agencies, including the Department of Defense and other defense and intelligence clients. The company has grown largely by acquiring smaller government IT contractors.

Castellum earns revenue through government contracts, typically structured as fixed-price or time-and-materials agreements with federal agencies. It operates almost entirely within the United States, and its competitive position depends heavily on holding the security clearances and certifications required to work on sensitive government programs. The company is currently unprofitable at the operating level, and its biggest challenge is integrating its acquisitions efficiently while winning enough new contract awards to reach sustainable profitability.

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

-1.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-150.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

21.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$17M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue declining

Castellum's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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

34.0%

Modest — 34.0% gross margin

Profit after running costs

Operating Margin

-7.9%

Losing money on operations — -7.9%

Return on the money invested

ROCE

-7.4%

Weak — -7.4% return on capital

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

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Growth

Sales growth

Sales YoY

+16.3%

Fast-growing sales (+16.3% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

6/8 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

4.3%

Thin free cash flow (4.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.03

Conservative — low debt load (0.03)

Covers its interest

Interest Cover

N/A

Data not available

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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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