Omni Bridgeway Limited

OBL.AX

Financial - Credit Services · Financial Services

Price

A$1.48

-0.07 (-4.82%)

Market Cap

A$428.7M

Exchange

Australian Securities Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Good

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Share count rising — dilution

+10.6% over 4y

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

Diluted shares outstanding: 258.0M (2021) → 285.4M (2025)

Winston Score History

The full picture

Omni Bridgeway is a litigation finance company. It pays the legal costs for people or businesses who have strong court cases but cannot afford to fight them. In return, it takes a share of any money won. The company operates globally and is one of the largest litigation funders in the world.

Omni Bridgeway makes money when funded cases settle or win in court — it receives a portion of the payout, which can be several times what it originally invested. It operates across Australia, Europe, North America, and Asia, managing a large portfolio of cases through funds that also bring in outside investors. The main risk is that cases take years to resolve and outcomes are unpredictable, meaning revenue is lumpy and hard to forecast. The company is currently unprofitable at the operating level, and its growth depends on successfully closing cases from its existing portfolio while raising new funds from institutional investors.

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

-66.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

8.5%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~11 months

A$192M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Omni Bridgeway Limited has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

61.3%

Premium pricing power — 61.3% gross margin

Profit after running costs

Operating Margin

10.2%

Modest — 10.2% operating margin

Return on the money invested

ROCE

-1.8%

Weak — -1.8% 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

-30.7%

Shrinking sales (-30.7% 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

-6%

Weak — only -6% of profit becomes cash

Spare cash per sale

FCF Margin

-30.7%

Burning cash (-30.7%)

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

0.06

Conservative — low debt load (0.06)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

0.9x

Attractive valuation — P/E 0.9

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-5.6

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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