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Serica Energy

SQZZF
50
Oil & Gas Exploration & Production · Energy
Price
$3.35
+0.00 (+0.00%)
Market Cap
$1.31B
Exchange
Other OTC
Winston Score
50
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 11, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
Growth
Mixed
Cash Flow
Mixed
Stability
Strong
Valuation
Data not available
Dividends
Good
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Share count rising — dilution

+38.4% over 4y

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

Diluted shares outstanding: 283.2M (2021) → 392.0M (2025)

§Winston Score History

The full picture

Serica Energy is a British oil and gas company that produces natural gas and crude oil from fields in the North Sea, mainly off the coast of the United Kingdom. Its output goes to energy traders and utilities that supply homes and businesses with fuel and electricity. Serica is one of the larger independent producers on the UK Continental Shelf.

The company earns revenue by selling the oil and gas it extracts at market prices. It operates primarily in UK waters, with production centered on the Bruce, Keith, and Rhum field hub, along with assets acquired through its 2023 merger with Tailwind Energy. Its established infrastructure and operatorship of key North Sea hubs give it a cost advantage over smaller rivals. Key risks include volatile commodity prices, the natural decline of mature North Sea fields, and the UK's evolving tax regime on oil and gas producers, including the Energy Profits Levy.

Growth Profile

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

Revenue Growth

+106.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+116.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

37.7%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$324M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Serica Energy grew revenue 107% 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
39.2%
Modest — 39.2% gross margin
Profit after running costs
Operating Margin
36.8%
Excellent — 36.8% operating margin
Return on the money invested
ROCE
14.5%
Good — 14.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+67.6%
Fast-growing sales (+67.6% 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
N/A
Data not available
Spare cash per sale
FCF Margin
14.4%
Converts sales into free cash efficiently (14.4%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.46
Conservative — low debt load (0.46)
Covers its interest
Interest Cover
4.10x
Adequate interest coverage (4.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/A
Data not available
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
9.68%
Healthy income — 9.68% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
-25.7%
Dividend cut (-25.7% YoY) — warning sign

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