Trajan Group Holdings Limited

TRJ.AX

Medical - Instruments & Supplies · Healthcare

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Trajan Group Holdings is an Australian company that makes tiny, precise scientific tools used in laboratories around the world. Its core products include syringes, sampling devices, and other consumable supplies used in analytical testing — the kind of work done in medical, food safety, and environmental labs. Trajan serves scientists and researchers, and it competes in the global market for laboratory instruments and consumables.

The company earns revenue mainly by selling its physical products to labs, research institutions, and diagnostic companies across Australia, Europe, and North America. With a gross margin of around 25% and a very thin operating margin, Trajan is still working to turn its scale into consistent profit. Its competitive position rests on highly specialized, precision-manufactured products that require technical expertise to make, but the company faces pressure from larger, better-resourced global competitors. The key challenge ahead is improving profitability while growing its international customer base.

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

+8.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+96.2% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

68.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

A$12M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Growth context

Trajan Group Holdings Limited is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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

9.7%

Thin — 9.7% gross margin

Profit after running costs

Operating Margin

1.8%

Thin — 1.8% operating margin

Return on the money invested

ROCE

0.5%

Weak — 0.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+6.2%

Slow sales growth (+6.2% 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

0.9%

Thin free cash flow (0.9%)

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

0.57

Conservative — low debt load (0.57)

Covers its interest

Interest Cover

0.21x

Dangerous — barely covers interest (0.2x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

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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