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Deep Value: cash covers more than 100% of the stock price

This company holds roughly $14.0B in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Ørsted A/S logo

Ørsted A/S

DNNGY
22
Renewable Utilities · Utilities
Price
$6.93
+0.07 (+1.02%)
Market Cap
$8.82B
Exchange
Other OTC
Winston Score
22
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Weak
Stability
Mixed
Valuation
Data not available

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: 1.26B (2021) → 2.66B (2025)

Winston Score History

The full picture

Ørsted is a Danish energy company that builds and operates wind farms, mostly offshore in the ocean. Its main product is electricity generated by wind turbines, which it sells to power grids, governments, and large businesses. Ørsted is one of the largest offshore wind developers in the world and was formerly a fossil fuel company that transformed itself into a renewable energy business.

Ørsted makes money by selling electricity under long-term contracts, often backed by government agreements that guarantee a set price. It operates primarily in Europe, the United States, and parts of Asia-Pacific, with a large presence in the UK and Denmark. The company has faced serious financial pressure recently, including writing down billions of dollars on canceled US offshore wind projects due to rising costs and higher interest rates. The key risk going forward is whether Ørsted can develop new wind projects profitably as construction costs remain elevated and government support policies shift.

Growth Profile

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

Revenue Growth

+27.8% 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

88.2%ownership

Insiders own a meaningful stake in the company

Cash Runway

~3 years

kr 89.7B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

kr 89.7B cash & investments at current burn rate

Strong grower

Ørsted A/S is growing revenue at 28% 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
-2.9%
Weak — -2.9% 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
+16.0%
Fast-growing sales (+16.0% YoY)
Profit growth
EPS YoY
-136.8%
Earnings shrinking (-136.8% 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
-32.7%
Burning cash (-32.7%)

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
0.92
Moderate — manageable debt (0.92)
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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