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Treasury Wine Estates Limited

TSRYY
37
Beverages - Wineries & Distilleries · Consumer Defensive
Exchange
Other OTC
Winston Score
37
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Data not available
Dividends
Exceptional

Winston Score History

The full picture

Treasury Wine Estates is one of the world's largest wine companies, based in Australia. It grows grapes and makes wine under dozens of brands, including Penfolds, Beringer, and 19 Crimes. Its wines are sold in supermarkets, restaurants, and wine shops across more than 70 countries, targeting everyday drinkers as well as premium and luxury wine buyers.

The company earns money by selling bottled wine at various price points, from affordable everyday labels to high-end luxury bottles like Penfolds Grange. Its biggest markets are Australia, the United States, Asia (especially China), and Europe. The Penfolds brand is its strongest competitive advantage because it carries decades of prestige and commands premium prices. A key growth driver is expanding luxury wine sales in Asia, particularly as China has eased import tariffs on Australian wine after a multi-year trade dispute. The main risk is that wine consumption in many Western markets is gradually declining, especially among younger consumers.

Growth Profile

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

Revenue Growth

-6.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-296.3% YoY

YoY Growth Rate

Earnings declining

Insider Activity

13.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$247M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

Treasury Wine Estates 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

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Quality

Profit per sale
Gross Margin
35.9%
Modest — 35.9% gross margin
Profit after running costs
Operating Margin
13.2%
Healthy — 13.2% operating margin
Return on the money invested
ROCE
8.9%
Below par — 8.9% 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
-12.4%
Shrinking sales (-12.4% YoY)
Profit growth
EPS YoY
-344.4%
Earnings shrinking (-344.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
3.1%
Thin free cash flow (3.1%)

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
0.48
Conservative — low debt load (0.48)
Covers its interest
Interest Cover
2.03x
Tight — interest eats into profit (2.0x)

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)
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

Dividend
Dividend Yield
6.58%
no trend
Healthy income — 6.58% yield

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

Dividend record
Dividend Growth
+41.8%
no trend
Dividend growing fast (41.8% YoY)

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