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SSH Group Limited

SSH.AX
60
Specialty Business Services · Industrials
Price
A$0.15
+0.00 (+3.45%)
Market Cap
A$16.3M
Exchange
Australian Securities Exchange
Winston Score
60
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Mixed
Growth
Strong
Cash Flow
Strong
Stability
Good
Valuation
Good

Share count falling — buybacks

83.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 414.0M (2021) → 66.7M (2025)

Winston Score History

The full picture

SSH Group Limited is a small Australian company that provides workforce and staffing solutions, primarily focused on labor hire and recruitment services. It connects businesses with skilled and semi-skilled workers, serving industries like construction, infrastructure, and industrial sectors. The company operates mainly in Australia and positions itself as a specialist provider in niche labor markets.

SSH Group earns revenue by placing workers with client businesses and charging a margin on the labor costs, which is a typical model for staffing and labor hire firms. With a market capitalization near zero, it is a very small company with limited geographic reach, concentrated in Australia. Its competitive position depends on maintaining strong relationships with repeat clients and a reliable pool of available workers. The main risk the business faces is sensitivity to economic slowdowns, since companies tend to cut contract and temporary workers quickly when conditions tighten, which can rapidly reduce SSH's revenue and margins.

Growth Profile

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

Revenue Growth

-16.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-16.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

47.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

A$4M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue declining

SSH Group Limited'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

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
10.9%
Thin — 10.9% gross margin
Profit after running costs
Operating Margin
8.0%
Modest — 8.0% operating margin
Return on the money invested
ROCE
20.4%
Exceptional — 20.4% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+3.2%
Slow sales growth (+3.2% YoY)
Profit growth
EPS YoY
+106.4%
Earnings growing fast (+106.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
295%
Turns 295% of profit into real cash
Spare cash per sale
FCF Margin
10.2%
Modest free cash flow (10.2%)

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
0.89
Moderate — manageable debt (0.89)
Covers its interest
Interest Cover
2.58x
Tight — interest eats into profit (2.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
7.7x
Attractive valuation — P/E 7.7

P/E under 10. The price tag is small relative to last year's profit.

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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