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CVW Sustainable Royalties

CVW.V
28
Industrial Materials · Basic Materials
Price
C$0.76
+0.00 (+0.00%)
Market Cap
C$212.3M
Exchange
Toronto Stock Exchange Ventures
Winston Score
28
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Sep 4, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
Growth
Mixed
Cash Flow
Weak
Stability
Good
Valuation
Good
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Share count rising — dilution

+64.6% over 4y

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

Diluted shares outstanding: 88.5M (2021) → 145.7M (2025)

§Winston Score History

The full picture

Operating under the name CVW CleanTech Inc. since its rebranding from Titanium Corporation Inc. in March 2022, this Calgary, Canada-based company specializes in developing advanced technologies for reclaiming heavy minerals and bitumen within Canada. A core offering is its proprietary "Value from Waste" (VfW) technology, which is engineered to extract bitumen, solvents, minerals, and water from the waste tailings produced by oil sands operations. Additionally, CVW CleanTech Inc. holds various interests in oil sands mining projects.

Growth Profile

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

Revenue Growth

YoY Growth Rate

Revenue data limited

EPS Growth

+100.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$0/ year

↓ Declining (-100% vs prior year)

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

Cash Runway

5+ years

Quarterly Free Cash Flow

→ Burn rate stable

C$118M cash & investments at current burn rate

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
N/A
Data not available
Profit after running costs
Operating Margin
N/A
Data not available
Return on the money invested
ROCE
-3.4%
Weak — -3.4% 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
N/A
Data not available
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
-1080%
Weak — only -1080% of profit becomes cash
Spare cash per sale
FCF Margin
-612.9%
Burning cash (-612.9%)

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
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)
271.4x
Expensive — P/E 271.4

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

Cheaper or dearer next year
P/E vs Forward
+270.2
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (271.4 → 1.3)

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Dividends

Not applicable for this business.
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