Leclanché S.A.

LECN.SW

Electrical Equipment & Parts · Industrials

Also trades as: 0QP6.L

Price

CHF 0.08

+0.00 (+1.44%)

Market Cap

CHF 85.8M

Exchange

SIX Swiss Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2025

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Share count rising — dilution

+264.6% over 4y

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

Diluted shares outstanding: 188.5M (2020) → 687.1M (2024)

Winston Score History

The full picture

Leclanché S.A. is a Swiss company that makes large rechargeable battery systems and energy storage solutions. Its main products include lithium-ion battery cells, battery packs, and complete energy storage systems sold to customers in electric transportation (such as ferries and buses) and to utility companies that need to store electricity from solar or wind power. The company has roots going back over 100 years in battery technology.

Leclanché earns revenue by selling battery systems and providing related engineering services, primarily across Europe. It is a small company with a market cap around $100 million and faces intense competition from much larger battery manufacturers in Asia and Europe. The financial data tells a difficult story — negative gross margins mean the company is currently spending more to build its products than it earns from selling them, and the key risk is whether Leclanché can raise enough capital and scale production before it runs out of cash.

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

+32.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-5.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

CHF 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

Insider Activity

56.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~1 months

CHF 12M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Leclanché S.A. grew revenue 33% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

-314.5%

Thin — -314.5% gross margin

Profit after running costs

Operating Margin

-410.0%

Losing money on operations — -410.0%

Return on the money invested

ROCE

-75.1%

Weak — -75.1% 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

+29.8%

Fast-growing sales (+29.8% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-263.0%

Burning cash (-263.0%)

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

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)

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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