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OriginClear

OCLN
Waste Management · Industrials
Price
$0.00
+0.00 (+10.00%)
Market Cap
$10.7M
Winston Score
Winston looking sleepy
No score yet — Winston is napping.
We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+6616.8% over 4y

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

Diluted shares outstanding: 180.5M (2021) → 12.12B (2025)

Winston Score History

The full picture

OriginClear is a small U.S. company focused on water treatment technology. It helps businesses clean and reuse their own wastewater on-site, rather than sending it to a municipal treatment plant. Its main product line, called Water On Demand, targets small and mid-sized businesses like farms, breweries, and industrial facilities that produce dirty water as part of their operations.

The company makes money by selling or leasing water treatment equipment and, more recently, by offering water treatment as a subscription-like service where customers pay over time instead of buying equipment upfront. OriginClear operates primarily in the United States and is a very small company, with a market cap near zero and ongoing operating losses. Its main challenge is scaling up enough customers to cover its costs, and the company carries significant financial risk given its negative operating margins and reliance on continued fundraising to stay in business.

Growth Profile

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

Revenue Growth

-4.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+75.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

1.8%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$3M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue declining

OriginClear's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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

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Quality

Profit per sale
Gross Margin
27.7%
Modest — 27.7% gross margin
Profit after running costs
Operating Margin
-25.0%
Losing money on operations — -25.0%
Return on the money invested
ROCE
N/A
Data not available

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Growth

Sales growth
Sales YoY
-20.0%
Shrinking sales (-20.0% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
22.6%
Converts sales into free cash efficiently (22.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
N/A
Data not available

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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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