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Orsted

DOGEF
25
Renewable Utilities · Utilities
Price
$22.08
+0.19 (+0.89%)
Market Cap
$9.41B
Exchange
Other OTC
Winston Score
25
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Aug 28, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Weak
Stability
Mixed
Valuation
Data not available
Dividends
Good

Share count rising — dilution

+110.8% over 4y

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

Diluted shares outstanding: 420.4M (2021) → 886.1M (2025)

Winston Score History

The full picture

Ørsted is a Danish energy company that builds and operates offshore wind farms. It also runs onshore wind farms, solar farms, and energy storage facilities. Ørsted is one of the world's largest developers of offshore wind energy, supplying clean electricity to utilities, governments, and businesses mainly in Europe and North America.

The company makes money by selling the electricity its wind and solar farms generate, often through long-term contracts with fixed prices. It operates projects across Denmark, the UK, Germany, the Netherlands, Taiwan, and the United States. Ørsted's early move into offshore wind gave it deep expertise in building complex ocean-based projects, which is hard for competitors to replicate quickly. However, the company has faced significant financial pressure from rising construction costs, supply chain disruptions, and project impairments, which have weighed heavily on margins. Its ability to manage costs and successfully deliver its pipeline of new projects will be critical to its financial recovery.

Growth Profile

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

Revenue Growth

+25.1% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-94.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

kr 0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

64.8%ownership

Insiders own a meaningful stake in the company

Cash Runway

~3 years

kr 89.4B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

kr 89.4B cash & investments at current burn rate

Strong grower

Orsted is growing revenue at 25% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

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
-0.1%
Thin — -0.1% gross margin
Profit after running costs
Operating Margin
-0.1%
Losing money on operations — -0.1%
Return on the money invested
ROCE
0.5%
Weak — 0.5% 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
+14.5%
Fast-growing sales (+14.5% YoY)
Profit growth
EPS YoY
-137.2%
Earnings shrinking (-137.2% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

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
-32.5%
Burning cash (-32.5%)

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
0.92
Moderate — manageable debt (0.92)
Covers its interest
Interest Cover
0.09x
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

Dividend
Dividend Yield
4.81%
Healthy income — 4.81% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
-1.2%
Dividend cut (-1.2% YoY) — warning sign

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