Frontier Digital Ventures Limited

FDV.AX

Internet Content & Information · Communication Services

Price

A$0.32

+0.01 (+1.59%)

Market Cap

A$139.5M

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+26.5% over 4y

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

Diluted shares outstanding: 343.5M (2021) → 434.6M (2025)

Winston Score History

The full picture

Frontier Digital Ventures is an Australian company that builds and invests in online classified advertising websites in emerging markets. Its platforms help people buy and sell cars, property, and jobs — similar to how Craigslist or CarGurus work in the US. The company owns stakes in leading classifieds sites across Southeast Asia, South Asia, the Middle East, and Africa, with key markets including Pakistan, Sri Lanka, Myanmar, and Morocco.

The company makes money through a mix of advertising fees and subscription packages sold to dealers, real estate agents, and employers who want their listings to stand out. With a market cap of around $100 million, Frontier is a small player, but its moat comes from being the dominant or near-dominant classifieds platform in several markets where it operates, making it hard for new competitors to gain traction. The main risk is that many of its markets have unstable currencies and political environments, which can hurt revenue and make profitability difficult to sustain.

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

-33.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-84.2% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

47.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

A$17M cash & investments at current burn rate

Revenue declining

Frontier Digital Ventures 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

22.7%

Thin — 22.7% gross margin

Profit after running costs

Operating Margin

-5.8%

Losing money on operations — -5.8%

Return on the money invested

ROCE

-1.6%

Weak — -1.6% 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

-19.5%

Shrinking sales (-19.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

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

N/A

Data not available

Spare cash per sale

FCF Margin

4.0%

Thin free cash flow (4.0%)

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

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)

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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