Ocean Power Technologies

OPTT

Electrical Equipment & Parts · Industrials

Exchange

New York Stock Exchange American

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Apr 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Ocean Power Technologies (OPT) makes small, self-powered platforms that float in the ocean and collect data or provide communications. Its main products include the PowerBuoy, a wave-powered buoy that generates electricity from ocean waves, and the WAM-V, an unmanned surface vessel. Customers include the U.S. Navy, defense agencies, and offshore energy companies that need remote monitoring in areas where running power cables is not practical.

The company earns revenue through product sales, government contracts, and service agreements, though it currently spends far more than it brings in. OPT operates primarily in the United States with some international projects, and it remains a very small company with a market cap under $100 million. Its main competitive edge is its niche focus on wave energy and autonomous ocean systems, but the biggest risk is its deeply negative margins and ongoing need to raise cash to fund operations before it can reach 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

+48.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+10.6% YoY

YoY Growth Rate

Steady EPS growth

Insider Activity

11.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 months

$9M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Ocean Power Technologies grew revenue 49% 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.

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Quality

Profit per sale

Gross Margin

-305.4%

Thin — -305.4% gross margin

Profit after running costs

Operating Margin

-747.8%

Losing money on operations — -747.8%

Return on the money invested

ROCE

-205.7%

Weak — -205.7% 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

-30.5%

Shrinking sales (-30.5% 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

-839.0%

Burning cash (-839.0%)

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

0.86

Moderate — manageable debt (0.86)

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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