The company has issued more shares over this period, which dilutes each existing shareholder’s stake.
Diluted shares outstanding: 166.156 (2021) → 35.5M (2025)
Spineway SA designs, develops, and markets a range of surgical implants for spine in France. The company offers posterior fixation, including posterior osteosynthesis systems and minimal invasive posterior osteosynthesis systems; interbody fusion products, such as lumbar cage twin peaks tlif curved and oblique; motion preservation products; and biomaterials. It also exports its products. The company was incorporated in 2005 and is headquartered in Ecully, France.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
-0.1% YoY
YoY Growth Rate
Revenue declining
-4.1% YoY
YoY Growth Rate
Earnings declining
€0/ year
0.0% of revenue
Below sector average (18%)
Research and development spending
Cash flow positive
€8M cash & investments
Quarterly Free Cash Flow
→ Burn rate stable
Company generates more cash than it spends — no dilution risk from fundraising
Spineway S.A.'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.
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Negative ROIC means the business is losing money on every dollar invested in it.
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Free cash flow is negative. They are burning cash, not generating it.
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See every metric, trend, and what it means for this stock.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
