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Cult Food Science

CULT.CN
17
Packaged Foods · Consumer Defensive
Price
C$0.25
-0.04 (-13.79%)
Market Cap
C$616,597
Exchange
Canadian Securities Exchange
Winston Score
17
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
Mixed
Growth
Weak
Cash Flow
Weak
Stability
Weak
Valuation
Data not available

Share count falling — buybacks

6.0% over 4y

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

Diluted shares outstanding: 1.8M (2021) → 1.7M (2025)

Winston Score History

The full picture

Cult Food Science Corp. is a Canadian company focused on cell-cultured and fermentation-based food technology. Instead of raising animals, it works with lab-grown proteins and microorganism-based ingredients to create alternative food products. The company invests in and partners with early-stage startups developing cultivated meat, precision fermentation, and other novel food technologies.

Cult Food Science makes money primarily through its portfolio of investments in alternative protein companies, along with limited product sales under brands like Noochies, a line of pet food made with cultivated ingredients. It operates mainly in Canada and the United States, targeting the growing market for sustainable and animal-free food. The company is very small, with a near-zero market cap and a deeply negative operating margin, meaning it spends far more than it earns. The main risk is that cell-cultured food technology is still years away from mainstream commercial scale, and the company will likely need continued outside funding to survive.

Growth Profile

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

Revenue Growth

-101.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+84.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Insider Activity

0.8%ownership

Relatively low insider ownership

Cash Runway

~8 years

C$2M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

C$2M cash & investments at current burn rate

Revenue declining

Cult Food Science'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

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Quality

Profit per sale
Gross Margin
-320866.7%
Thin — -320866.7% gross margin
Profit after running costs
Operating Margin
3369800.0%
Excellent — 3369800.0% operating margin
Return on the money invested
ROCE
-137.6%
Weak — -137.6% 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
-98.6%
Shrinking sales (-98.6% YoY)
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
N/A
Data not available
Spare cash per sale
FCF Margin
-4230.8%
Burning cash (-4230.8%)

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
126.37
Heavy debt load (126.37)
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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