Dye & Durham Limited

DND.TO

Software - Application · Technology

Price

C$0.74

+0.00 (+0.00%)

Market Cap

C$49.7M

Exchange

Toronto Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Share count rising — dilution

+18.8% over 4y

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

Diluted shares outstanding: 56.4M (2021) → 67.1M (2025)

Winston Score History

The full picture

Dye & Durham is a Canadian software company that helps law firms, banks, and government agencies handle legal and financial transactions. Its main products are cloud-based platforms that automate tasks like property searches, court filings, corporate registrations, and due diligence checks. It is one of the largest providers of legal workflow software in Canada, Australia, and the United Kingdom.

The company earns money by charging fees each time a professional uses its platform to complete a transaction, rather than through flat subscriptions. This transaction-based model ties revenue closely to activity in real estate and legal markets, which can slow sharply when interest rates rise and property deals decline. Dye & Durham has grown largely through acquisitions, which has left it carrying significant debt — managing that debt load while sustaining growth in softer real estate markets remains the central challenge facing the business.

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

-15.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+406.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (15%)

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

Insider Activity

50.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

C$36M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

Dye & Durham Limited'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

31.3%

Modest — 31.3% gross margin

Profit after running costs

Operating Margin

46.2%

Excellent — 46.2% operating margin

Return on the money invested

ROCE

5.6%

Weak — 5.6% 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

-15.1%

Shrinking sales (-15.1% YoY)

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

N/A

Data not available

Spare cash per sale

FCF Margin

6.6%

Modest free cash flow (6.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

4.79

Heavy debt load (4.79)

Covers its interest

Interest Cover

0.70x

Dangerous — barely covers interest (0.7x)

Interest coverage below 1. Their profits don't cover the interest bill.

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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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