James Fisher and Sons

FSJ.L

Marine Shipping · Industrials

Exchange

London Stock 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

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

James Fisher and Sons is a British company that provides specialist services to the marine and energy industries. It helps customers with things like underwater engineering, ship-to-ship fuel transfers, nuclear decommissioning support, and safety training. Its main customers are oil and gas companies, navies, port operators, and energy firms around the world.

The company earns money by charging fees for its technical services and equipment rental rather than selling physical products. It operates globally, with a strong presence in the UK, Middle East, and Asia-Pacific, and generates roughly £500 million in annual revenue. Its edge comes from having niche technical expertise that is hard to replicate quickly, but the business has struggled with profitability in recent years — its negative return on invested capital signals that costs and debt levels remain a serious challenge, and improving operational efficiency is the key hurdle management must clear before the business can reliably generate value for shareholders.

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

-6.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-104.2% YoY

YoY Growth Rate

Earnings declining

Insider Activity

23.9%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

£70M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

James Fisher and Sons'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

33.4%

Modest — 33.4% gross margin

Profit after running costs

Operating Margin

5.5%

Thin — 5.5% operating margin

Return on the money invested

ROCE

5.3%

Weak — 5.3% 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

-9.9%

Shrinking sales (-9.9% YoY)

Profit growth

EPS YoY

-109.4%

Earnings shrinking (-109.4% 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

N/A

Data not available

Spare cash per sale

FCF Margin

9.9%

Modest free cash flow (9.9%)

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

0.60

Moderate — manageable debt (0.60)

Covers its interest

Interest Cover

0.97x

Dangerous — barely covers interest (1.0x)

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

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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