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

This company holds roughly $12M 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.

Nexus Infrastructure

NEXS.L

Engineering & Construction · Industrials

Price

103.50 GBp

+0.00 (+0.00%)

Market Cap

9.4M GBp

Exchange

London Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

Dividends

Strong

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Share count falling — buybacks

−80.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 46.3M (2021) → 9.0M (2025)

Winston Score History

The full picture

Nexus Infrastructure plc is a UK-based construction services company that builds the essential infrastructure needed for new housing and commercial developments. Its two main divisions are Tamdown, which installs groundworks, drainage, and reinforced concrete frames, and TriConnex, which connects new homes to utilities like electricity, gas, and water. Its customers are primarily housebuilders and property developers across England.

The company earns revenue by completing fixed-price contracts for infrastructure work tied to the UK housing market. It operates entirely within the United Kingdom and is a small-cap business with a market value near zero, reflecting recent financial difficulties. The negative operating margin and weak returns on capital highlight the core risk: thin margins in construction leave little buffer when project costs rise or housing activity slows. The UK government's housebuilding targets could support future demand, but Nexus must improve cost control and win enough contracts to return to profitability.

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

+5.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+42.9% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

£0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

58.7%ownership

Insiders own a meaningful stake in the company

Cash Runway

~16 months

£9M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Growth context

Nexus Infrastructure is growing revenue at 6% 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

15.1%

Thin — 15.1% gross margin

Profit after running costs

Operating Margin

-2.6%

Losing money on operations — -2.6%

Return on the money invested

ROCE

-8.8%

Weak — -8.8% 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

+9.9%

Steady sales growth (+9.9% 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

-1.5%

Burning cash (-1.5%)

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

Dividend

Dividend Yield

2.90%

Moderate income — 2.90% yield

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

Dividend record

Dividend Growth

+20.0%

Dividend growing fast (20.0% YoY)

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