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Euro Tech Holdings Company Limited

CLWT
27
Industrial - Pollution & Treatment Controls · Industrials
Price
$1.69
-0.01 (-0.88%)
pre-market:$1.57-6.98%
Market Cap
$12.5M
Exchange
NASDAQ Capital Market
Winston Score
27
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Sep 10, 2026 · filings through Dec 31, 2025

§How the score breaks down

Quality
Weak
Growth
Weak
Cash Flow
Strong
Stability
Data not available
Valuation
Weak
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Share count falling — buybacks

−1.7% over 4y

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

Diluted shares outstanding: 7.7M (2021) → 7.6M (2025)

§Winston Score History

The full picture

Established in Hong Kong in 1971, Euro Tech Holdings Company Limited primarily supplies a diverse range of equipment and related solutions to commercial enterprises and government bodies across Hong Kong and mainland China. The company operates via two principal divisions: Trading and Manufacturing, and Engineering. Its core offerings include vital infrastructure components such as water treatment systems, laboratory instrumentation, analytical devices, diagnostic test kits, and power generation equipment. Euro Tech's extensive product portfolio encompasses advanced analytical instruments, including spectrophotometers, chromatographs, and mass spectrometers, along with critical environmental monitoring tools for air and water quality. It also provides general-purpose laboratory equipment and specialized sample pre-treatment apparatus. Additionally, the company distributes a variety of general testing and measurement devices, such as multi-channel recorders, signal amplifiers, and calibration tools, often utilized for energy efficiency, renewable energy applications, power quality analysis, and continuous emissions monitoring systems. Air pollution control systems are also supplied to major clients in sectors like power generation, railway, aerospace, utilities, and academic institutions. Furthermore, Euro Tech delivers sophisticated process control systems, featuring sensors, temperature and pressure gauges, flow meters, and various control and calibration devices. Beyond product distribution, the company offers a comprehensive suite of services, including systems engineering, ongoing maintenance, installation support, and calibration. Euro Tech also actively designs, operates, and manages complex projects related to wastewater, water, and power generation. Its technological offerings extend to programmable logic controllers (PLCs), telemetry units, and supervisory control and data acquisition (SCADA) systems and software.

Growth Profile

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

Revenue Growth

-9.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-58.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

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

Cash Position

Cash flow positive

$16M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Revenue declining

Euro Tech Holdings Company 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
26.8%
Modest — 26.8% gross margin
Profit after running costs
Operating Margin
1.8%
Thin — 1.8% operating margin
Return on the money invested
ROCE
-1.5%
Weak — -1.5% 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
-13.8%
Shrinking sales (-13.8% YoY)
Profit growth
EPS YoY
-78.3%
Earnings shrinking (-78.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
497%
Turns 497% of profit into real cash
Spare cash per sale
FCF Margin
5.8%
Thin free cash flow (5.8%)

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
N/A
Data not available
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
82.0x
Expensive — P/E 82.0

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

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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