DUG Technology

DUG.AX

Information Technology Services · Technology

Price

A$1.91

-0.02 (-1.04%)

Market Cap

A$258.2M

Exchange

Australian Securities Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

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

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Exceptional

Stability

Mixed

Valuation

Good

Track this stock — start free trial

Share count rising — dilution

+34.0% over 4y

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

Diluted shares outstanding: 96.4M (2021) → 129.2M (2025)

Winston Score History

The full picture

DUG Technology is an Australian technology company that sells high-performance computing (HPC) services and software, mainly to the oil and gas industry. Its core product is processing large amounts of seismic data — the underground imaging that energy companies use to find oil and gas deposits. DUG also builds and operates its own data centers, which it uses to run these computing jobs for clients around the world.

The company earns money by charging clients for computing time, data processing services, and software licenses. DUG operates data centers in Australia, the United Kingdom, and the United States, giving it a global footprint despite its small size of around $300 million in market value. Its main competitive edge is owning its own energy-efficient supercomputing hardware, which keeps costs lower than renting cloud capacity from larger providers. The key risk is that its revenue is heavily tied to spending decisions in the oil and gas sector, which can drop sharply when energy prices fall.

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

-4.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-96.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

21.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$18M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue declining

DUG Technology'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.

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

30.0%

Modest — 30.0% gross margin

Profit after running costs

Operating Margin

12.7%

Healthy — 12.7% operating margin

Return on the money invested

ROCE

7.6%

Weak — 7.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+16.6%

Fast-growing sales (+16.6% 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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

948%

Turns 948% of profit into real cash

Spare cash per sale

FCF Margin

14.8%

Converts sales into free cash efficiently (14.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.64

Moderate — manageable debt (0.64)

Covers its interest

Interest Cover

1.44x

Dangerous — barely covers interest (1.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

113.0x

Expensive — P/E 113.0

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

Cheaper or dearer next year

P/E vs Forward

+99.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (113.0 → 13.4)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial