Nostrum Oil & Gas

NOG.L

Oil & Gas Exploration & Production · Energy

Price

1.00 GBp

+0.35 (+53.85%)

Market Cap

1.6M GBp

Exchange

London Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 25, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Share count rising — dilution

+882.0% over 4y

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

Diluted shares outstanding: 16.9M (2021) → 166.0M (2025)

Winston Score History

The full picture

Nostrum Oil & Gas is an independent oil and gas company that produces crude oil and natural gas in Kazakhstan, Central Asia. It operates the Chinarevskoye field in the Pre-Caspian Basin near the Russian border. The company processes its output at its own gas treatment facilities and sells petroleum products to regional and international buyers.

Nostrum generates revenue by selling crude oil, condensate, and natural gas, with prices tied to global commodity markets. It is a relatively small producer focused on a single major field, which concentrates both its operations and its risk. The company has faced significant financial challenges in recent years, including debt restructuring and production declines from its mature wells. Its outlook depends heavily on whether planned investments can stabilize or grow production volumes, alongside the trajectory of global oil and gas prices.

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

+16.3% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+8.3% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

33.9%ownership

Insiders own a meaningful stake in the company

Cash Runway

~4 years

$169M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$169M cash & investments at current burn rate

Growth context

Nostrum Oil & Gas is growing revenue at 16% 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.

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

52.5%

Healthy — 52.5% gross margin

Profit after running costs

Operating Margin

25.2%

Excellent — 25.2% operating margin

Return on the money invested

ROCE

2.6%

Weak — 2.6% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

-6.8%

Shrinking sales (-6.8% YoY)

Profit growth

EPS YoY

N/A

Data not available

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

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

N/A

—

Data not available

Covers its interest

Interest Cover

0.08x

Dangerous — barely covers interest (0.1x)

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

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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