Deep Value: cash covers more than 100% of the stock price

This company holds roughly $260M in cash and investments — more than 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.

Genel Energy

GENL.L

Oil & Gas Exploration & Production · Energy

Exchange

London Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Winston Score History

The full picture

Genel Energy is an oil and gas company that finds and pumps crude oil from underground reserves. It operates mainly in the Kurdistan Region of Iraq, selling oil to buyers in international energy markets. The company is one of the few independent Western oil producers with a significant footprint in Iraqi Kurdistan.

Genel makes money by selling the oil it produces, with revenue tied directly to global oil prices and how much oil it can pump each day. It is a small company, with a market cap around $100 million, and its operations are concentrated in a single, politically sensitive region, which limits diversification. The biggest risk the business faces is a combination of declining production from maturing fields and ongoing uncertainty around payments from the Kurdistan Regional Government, which has historically delayed or reduced the amounts owed to oil producers operating there.

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

-62.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

YoY Growth Rate

EPS data limited

Insider Activity

48.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 years

£260M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

£260M cash & investments at current burn rate

Revenue declining

Genel Energy'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.

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Quality

Profit per sale

Gross Margin

-45.5%

Thin — -45.5% gross margin

Profit after running costs

Operating Margin

-117.2%

Losing money on operations — -117.2%

Return on the money invested

ROCE

-6.5%

Weak — -6.5% 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

-36.4%

Shrinking sales (-36.4% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-38.9%

Burning cash (-38.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.27

Conservative — low debt load (0.27)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

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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