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North West Company

NNWWF
50
Grocery Stores · Consumer Defensive
Price
$38.31
+0.00 (+0.00%)
Market Cap
$1.82B
Exchange
Other OTC
Winston Score
50
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 14, 2026 · filings through Jul 31, 2026

§How the score breaks down

Quality
Good
Growth
Good
Cash Flow
Strong
Stability
Strong
Valuation
Good
Dividends
Good

§Winston Score History

The full picture

North West Company is a Canadian retailer that runs grocery stores, general merchandise shops, and other services in remote and northern communities across Canada and Alaska. Its stores serve Indigenous and rural populations in areas where few other retailers operate. It is one of the oldest companies in Canada, with roots going back to the fur trade era.

The company earns revenue mainly by selling food, everyday essentials, and general merchandise through its store network. It operates roughly 120 stores under banners like Northern and NorthMart, along with additional locations in Alaska, the Caribbean, and the South Pacific. Its key competitive advantage is its established logistics network for reaching isolated communities where large competitors rarely go. Growth depends on expanding services in existing markets and managing the high costs of transporting goods to remote locations, while government policies on northern food subsidies remain an important variable.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+4.0% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Insider Activity

0.6%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

C$102M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

North West Company is growing revenue at 7% 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

0.7% over 4y

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

Diluted shares outstanding: 49.0M (2022) → 48.7M (2026)

Score breakdown

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Quality

Profit per sale
Gross Margin
29.4%
Modest — 29.4% gross margin
Profit after running costs
Operating Margin
8.5%
Modest — 8.5% operating margin
Return on the money invested
ROCE
18.2%
Strong — 18.2% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+1.2%
Nearly flat sales (+1.2% YoY)
Profit growth
EPS YoY
+3.1%
Modest earnings growth (+3.1% YoY)

Single-digit earnings growth — steady but not exciting.

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
183%
Turns 183% of profit into real cash
Spare cash per sale
FCF Margin
4.8%
Thin free cash flow (4.8%)

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
0.44
Conservative — low debt load (0.44)
Covers its interest
Interest Cover
12.51x
Comfortably covers interest (12.5x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
12.9x
Attractive valuation — P/E 12.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
-3.1
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
3.17%
Moderate income — 3.17% yield

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

Dividend record
Dividend Growth
+3.1%
Dividend growing modestly (3.1% YoY)

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