Gowing Bros. Limited

GOW.AX

Asset Management · Financial Services

Price

A$2.13

-0.05 (-2.29%)

Market Cap

A$115.4M

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

Dividends

Mixed

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Winston Score History

The full picture

Gowing Bros. Limited is an Australian investment company that has been around since 1868. It owns a mix of assets including listed shares, property, and private businesses. The company is based in New South Wales and has historically had ties to retail, though it shifted focus toward investment management over time.

Gowing Bros. makes money by earning returns on its investment portfolio, which includes dividends, rental income, and capital gains from selling assets. It operates almost entirely within Australia and is a very small company by global standards, with a market cap of around $100 million. Its long history gives it some credibility, but its near-zero operating margin and low returns on capital suggest the portfolio is not generating strong profits right now. The main risk is that a small, thinly traded investment company like this can struggle to grow if its asset base underperforms the broader Australian market over time.

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

+2.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+58.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

63.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

A$302M cash & investments at current burn rate

Growth context

Gowing Bros. Limited is growing revenue at 2% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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.

Share count broadly stable

+0.4% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 53.1M (2021) → 53.3M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

10.4%

Thin — 10.4% gross margin

Profit after running costs

Operating Margin

1.3%

Thin — 1.3% operating margin

Return on the money invested

ROCE

-0.0%

Weak — -0.0% 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

+4.7%

Slow sales growth (+4.7% 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

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-4.8%

Burning cash (-4.8%)

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

0.50

Conservative — low debt load (0.50)

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

Dividend

Dividend Yield

2.75%

Moderate income — 2.75% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

-4.2%

Dividend cut (-4.2% YoY) — warning sign

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