Clean TeQ Water Limited

CNQ.AX

Regulated Water · Utilities

Price

A$0.77

-0.01 (-1.28%)

Market Cap

A$68.1M

Exchange

Australian Securities Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 29, 2026 · filings through Dec 31, 2025

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

+73.6% over 3y

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

Diluted shares outstanding: 44.7M (2022) → 77.6M (2025)

Winston Score History

The full picture

Clean TeQ Water Limited provides advanced solutions for metal extraction and water purification to both governmental bodies and private companies. The firm's technological offerings span a diverse range of innovations, including continuous ionic filtration, membrane-free desalination, chemical-free recovery reverse osmosis, encapsulated bacteria lenses, comprehensive nitrate removal, low-energy evaporation and crystallization methods, and sophisticated metal recovery systems, alongside various membranes for filtering water and wastewater. Additionally, Clean TeQ Water undertakes complete turnkey projects, encompassing the design and construction of entire facilities for metal recovery and water treatment. The company's services are utilized across multiple sectors, such as municipal wastewater management, surface water treatment, industrial wastewater processing, and mining wastewater operations. Incorporated in 2021, Clean TeQ Water Limited's headquarters are located in Notting Hill, Australia.

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

+120.1% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+88.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

A$218,306/ year

↑ Rising (+14% vs prior year)

1.9% of revenue

1.9x the sector average (1%)

R&D investment increasing — building for the future

Cash Runway

~14 months

A$6M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

Clean TeQ Water Limited grew revenue 120% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

16.9%

Thin — 16.9% gross margin

Profit after running costs

Operating Margin

3.6%

Thin — 3.6% operating margin

Return on the money invested

ROCE

6.1%

Weak — 6.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+92.8%

Fast-growing sales (+92.8% 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

-6.6%

Burning cash (-6.6%)

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

0.11

Conservative — low debt load (0.11)

Covers its interest

Interest Cover

1.18x

Dangerous — barely covers interest (1.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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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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