Tata Steel Limited

TTST.L

Steel · Basic Materials

Exchange

London Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Strong

Cash Flow

Weak

Stability

Good

Valuation

Mixed

Dividends

Strong

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Winston Score History

The full picture

Tata Steel is one of the largest steel producers in the world. It makes steel products like flat-rolled steel, wire rods, tubes, and construction materials. Its customers include car manufacturers, construction companies, and industrial businesses across Asia and Europe.

The company earns money by selling steel and steel products directly to businesses. It operates mainly in India and Europe, with India being its faster-growing and more profitable segment. Tata Steel's main competitive advantage is its large, low-cost production capacity in India, where it controls significant iron ore resources. However, its European operations — particularly in the UK — have struggled with high energy costs and aging infrastructure, and the company faces ongoing pressure to reduce carbon emissions as governments push the steel industry toward greener production methods.

Growth Profile

For growth stock investors

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

Revenue Growth

+12.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+125.5% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

35.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

£100.6B cash & investments

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

Growth + cash flow

Tata Steel Limited is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

62.0%

Premium pricing power — 62.0% gross margin

Profit after running costs

Operating Margin

9.3%

Modest — 9.3% operating margin

Return on the money invested

ROCE

12.5%

Good — 12.5% 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

+10.6%

Steady sales growth (+10.6% YoY)

Profit growth

EPS YoY

+142.5%

Earnings growing fast (+142.5% 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

Weak — only 0% of profit becomes cash

Spare cash per sale

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.83

Moderate — manageable debt (0.83)

Covers its interest

Interest Cover

3.29x

Tight — interest eats into profit (3.3x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

20.7x

no trend

Growth-priced — P/E 20.7

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

-103.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

2.11%

no trend

Moderate income — 2.11% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+32.2%

no trend

Dividend growing fast (32.2% YoY)

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