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Cosmo N.V.

0RGI.L
25
Medical - Pharmaceuticals · Healthcare
Price
57.77 GBp
-0.59 (-1.02%)
Market Cap
£953.5M
Exchange
London Stock Exchange
Winston Score
25
Winston is worried
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
Weak
Cash Flow
Weak
Stability
Good
Valuation
Data not available
Dividends
Mixed

Share count falling — buybacks

5.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 16.9M (2021) → 16.0M (2025)

Winston Score History

The full picture

Cosmo Pharmaceuticals is a specialty drug company that focuses on medicines for the digestive system, particularly the colon and intestines. Its best-known product is Methylene Blue MMX, a dye used during colonoscopies to help doctors spot abnormal tissue more easily. The company also develops drug-device combinations and has licensed several products to larger pharmaceutical partners.

Cosmo makes money through a mix of product sales, royalties, and licensing deals with bigger drugmakers who sell Cosmo's products in various markets. It operates primarily in Europe and North America, and its main edge comes from patented drug-delivery technology that controls how and where a medicine is released in the gut. The company is currently unprofitable at the operating level, and its growth depends heavily on whether its pipeline products gain regulatory approval and whether licensing partners successfully commercialize the drugs they have licensed from Cosmo.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-3.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-115.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€32M/ year

Declining (-19% vs prior year)

30.8% of revenue

1.7x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

47.7%ownership

Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~6 years

€217M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

€217M cash & investments at current burn rate

Revenue declining

Cosmo N.V.'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.

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Quality

Profit per sale
Gross Margin
44.5%
Healthy — 44.5% gross margin
Profit after running costs
Operating Margin
-18.8%
Losing money on operations — -18.8%
Return on the money invested
ROCE
-2.4%
Weak — -2.4% 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
-43.7%
Shrinking sales (-43.7% YoY)
Profit growth
EPS YoY
-111.4%
Earnings shrinking (-111.4% YoY)

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

How steady the profit is
EPS Consistency
2/8 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
-23.2%
Burning cash (-23.2%)

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
0.00
Conservative — low debt load (0.00)
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

Dividend
Dividend Yield
3.34%
Moderate income — 3.34% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
N/A
Data not available

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