Deep Value: cash covers about 92% of the stock price

This company holds roughly $1.3B in cash and investments — about 92% of its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Dar Global

DAR.L

Real Estate - Development · Real Estate

Exchange

London Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

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

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Exceptional

Stability

Strong

Valuation

Good

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Winston Score History

The full picture

Dar Global PLC is a luxury real estate developer that builds high-end homes, apartments, and resorts in some of the world's fastest-growing markets. Its main customers are wealthy international buyers looking for premium properties in destinations like Oman, Saudi Arabia, the UAE, Qatar, and southern Spain. The company is known for partnering with famous luxury brands — such as Aston Martin and Pagani — to create branded residences that carry extra prestige.

The company makes money by selling residential units and mixed-use developments, collecting revenue as projects are completed and handed over to buyers. It operates across the Middle East and parts of Europe, with a focus on markets where demand for luxury property from global investors remains strong. Its brand partnerships give it a point of difference in a crowded market, but the business is exposed to risks from rising construction costs, interest rate changes, and the cyclical nature of luxury property demand.

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

+95.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+226.7% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

88.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

£1.6B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Dar Global grew revenue 96% 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.

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Quality

Profit per sale

Gross Margin

36.4%

Modest — 36.4% gross margin

Profit after running costs

Operating Margin

22.2%

Excellent — 22.2% operating margin

Return on the money invested

ROCE

13.0%

Good — 13.0% 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

+124.1%

Fast-growing sales (+124.1% YoY)

Profit growth

EPS YoY

+608.8%

Earnings growing fast (+608.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

2/4 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

259%

Turns 259% of profit into real cash

Spare cash per sale

FCF Margin

47.5%

Converts sales into free cash efficiently (47.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.29

Conservative — low debt load (0.29)

Covers its interest

Interest Cover

6.33x

Adequate interest coverage (6.3x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

14.4x

no trend

Attractive valuation — P/E 14.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

-0.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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