Cettire Limited

CTT.AX

Luxury Goods · Consumer Cyclical

Price

A$0.21

-0.01 (-4.55%)

Market Cap

A$80.1M

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most 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

Data not available

Valuation

Data not available

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Winston Score History

The full picture

Cettire is an Australian online retailer that sells luxury fashion items like designer clothing, handbags, shoes, and accessories. It sources products from hundreds of high-end brands — including Gucci, Balenciaga, and Prada — and sells them directly to shoppers around the world through its website. The company operates in the global luxury e-commerce industry, competing against platforms like Farfetch and SSENSE.

Cettire makes money by selling these luxury goods at a markup, keeping a portion of each sale as revenue. It operates primarily as a drop-shipping model, meaning it often does not hold inventory itself, which keeps costs down but also limits margins — its gross margin sits at just 11%, which is thin for retail. The company is currently unprofitable, and its key challenge is scaling revenue fast enough to cover operating costs while facing intense competition from larger, better-funded luxury platforms.

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

-2.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-122.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$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

49.5%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

A$99M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

Cettire Limited'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.

Share count broadly stable

−0.7% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 381.2M (2021) → 378.7M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

10.9%

Thin — 10.9% gross margin

Profit after running costs

Operating Margin

-0.7%

Losing money on operations — -0.7%

Return on the money invested

ROCE

-44.8%

Weak — -44.8% 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

-6.5%

Shrinking sales (-6.5% YoY)

Profit growth

EPS YoY

-437.9%

Earnings shrinking (-437.9% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

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

-2.9%

Burning cash (-2.9%)

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

N/A

Data not available

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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