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

This company holds roughly $40M 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.

Centric Holdings S.A.

CENTR.AT

Information Technology Services · Technology

Exchange

Athens Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

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

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Good

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Winston Score History

The full picture

Centric Holdings S.A. is a Greek information technology services company that provides software, digital transformation consulting, and IT infrastructure solutions. Its main customers are businesses and government organizations in Greece and southeastern Europe that need help modernizing their technology systems. The company operates in a fragmented regional IT services market where local expertise and government relationships matter.

Centric earns revenue by selling software licenses, delivering consulting projects, and providing ongoing IT support contracts to clients. It is a relatively small company, primarily focused on the Greek market, with some presence across the broader Balkans region. The company's gross margin of around 25% is modest for IT services, and its negative operating margin signals that costs currently exceed what the business brings in — meaning the key near-term challenge is reaching a scale where revenue growth can outpace operating expenses and push the business toward consistent 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

+2.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+63.6% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

39.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~4 years

€34M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

€34M cash & investments at current burn rate

Growth context

Centric Holdings S.A. is growing revenue at 2% 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

30.9%

Modest — 30.9% gross margin

Profit after running costs

Operating Margin

-16.3%

Losing money on operations — -16.3%

Return on the money invested

ROCE

-4.9%

Weak — -4.9% 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

N/A

Data not available

Profit growth

EPS YoY

N/A

Data not available

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

-84%

Weak — only -84% of profit becomes cash

Spare cash per sale

FCF Margin

-50.1%

Burning cash (-50.1%)

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

0.15

Conservative — low debt load (0.15)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

14.6x

no trend

Attractive valuation — P/E 14.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly 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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