Northann

NCL

Furnishings, Fixtures & Appliances · Consumer Cyclical

Exchange

New York Stock Exchange Arca

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

Good

Valuation

Data not available

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Winston Score History

The full picture

Northann Corp. is a small company that sells flooring products, primarily luxury vinyl plank and tile. It targets both residential homeowners and commercial buyers, selling through online channels and retail partners in the United States. The company operates in the competitive home furnishings and building materials industry.

Northann makes money by selling flooring products directly to customers, relying on e-commerce and wholesale distribution. It is a very small company with a market cap near zero, and it faces intense competition from much larger flooring brands like Shaw, Mohawk, and LifeProof. The company's financials show a deeply negative operating margin, meaning it spends far more than it earns, which is a serious concern. The main risk is whether Northann can grow its sales volume fast enough to cover its costs before it runs out of resources to fund operations.

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

+44.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-131.9% YoY

YoY Growth Rate

Earnings declining

Insider Activity

19.8%ownership

Insiders own a meaningful stake in the company

Cash Runway

~0 months

$239,641 cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Northann grew revenue 44% 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

-10.0%

Thin — -10.0% gross margin

Profit after running costs

Operating Margin

-57.5%

Losing money on operations — -57.5%

Return on the money invested

ROCE

-51.5%

Weak — -51.5% 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

+6.6%

Slow sales growth (+6.6% 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

-53.5%

Burning cash (-53.5%)

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

0.23

Conservative — low debt load (0.23)

Covers its interest

Interest Cover

N/A

Data not available

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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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