CTW Cayman Class A Ordinary Shares

CTW

Electronic Gaming & Multimedia · Technology

Price

$2.77

+0.13 (+4.92%)

Market Cap

$172.8M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

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

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Good

Valuation

Weak

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Share count rising — dilution

+400.0% over 2y

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

Diluted shares outstanding: 12.0M (2023) → 60.0M (2025)

Winston Score History

The full picture

CTW Cayman is a technology company operating in the electronic gaming and multimedia space. It develops and distributes digital entertainment products — likely including online games, interactive media, or streaming content — aimed at consumer audiences. The company is incorporated in the Cayman Islands, a common structure for technology firms with roots in Asia.

The company earns revenue primarily through digital channels, which explains its high gross margin of around 76%, typical of software and content businesses with low per-unit costs. Despite strong gross margins, the company is currently operating at a small loss, suggesting it is still investing heavily in growth or struggling to scale its cost base. With a market cap of roughly $200 million, it is a small player in a highly competitive global gaming and multimedia industry, where larger platforms like Tencent and NetEase dominate. The key risk is whether the company can reach consistent profitability before its cash resources run thin.

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

+23.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-84.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$6M/ year

↑ Rising (+480% vs prior year)

6.1% of revenue

Below sector average (15%)

R&D investment increasing — building for the future

Insider Activity

96.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$13M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth + cash flow

CTW Cayman Class A Ordinary Shares is a rare growth stock that's already generating positive cash flow while growing at 23%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

75.6%

Premium pricing power — 75.6% gross margin

Profit after running costs

Operating Margin

-1.2%

Losing money on operations — -1.2%

Return on the money invested

ROCE

-3.5%

Weak — -3.5% 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

+32.1%

Fast-growing sales (+32.1% YoY)

Profit growth

EPS YoY

-87.2%

—

Earnings shrinking (-87.2% YoY)

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

How steady the profit is

EPS Consistency

N/A

Data not available

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Cash Flow

Profit that turns into cash

Cash Conversion

Weak — only 3% of profit becomes cash

Spare cash per sale

FCF Margin

-0.5%

Burning cash (-0.5%)

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

0.10

Conservative — low debt load (0.10)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

43.7x

Pricey — P/E 43.7

P/E over 35. The market is pricing in heavy, sustained growth.

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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