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TUS ENVIRONMENTAL SCIENCE AND TECHNOLOGY DEVELOPMENT Co.

000826.SZ
23
Waste Management · Industrials
Price
¥1.72
-0.01 (-0.58%)
Market Cap
¥2.45B
Exchange
Shenzhen Stock Exchange
Winston Score
23
Winston is worried
Weak fundamentals across most pillars.
Data as of Oct 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
7/30
Growth
Weak
2/20
Cash Flow
Mixed
3/10
Stability
Weak
0/10
Valuation
Data not available
0/10
Ownership
Good
8/15
Dividends
Good
3/5

23 of 100 counted points = Winston Score 23.

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Share count falling — buybacks

−5.9% over 3y

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

Diluted shares outstanding: 1.43B (2022) → 1.35B (2025)

§Winston Score History

The full picture

TUS Environmental Science and Technology Development is a Chinese company that handles waste management and environmental services. It collects, treats, and disposes of solid waste, hazardous waste, and wastewater, serving municipal governments, industrial facilities, and other businesses across China. The company is affiliated with Tsinghua University, which gives it a research-backed identity in China's environmental services sector.

The company earns money by charging fees for waste processing, treatment contracts, and environmental engineering projects. It operates primarily in China, where government-driven environmental regulations have historically created steady demand for its services. However, with an operating margin of around negative 51% and a negative return on invested capital, the business is currently losing significant money relative to its revenue, suggesting high costs or debt burdens are weighing heavily on profitability. The key risk is whether the company can restructure its finances and improve operational efficiency before its losses erode its financial position further.

Growth Profile

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

Revenue Growth

-13.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+53.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

¥62M/ year

↓ Declining (-14% vs prior year)

1.3% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

7.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

¥1.2B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

TUS ENVIRONMENTAL SCIENCE AND TECHNOLOGY DEVELOPMENT Co.'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
25.9%
Modest — 25.9% gross margin
Profit after running costs
Operating Margin
4.8%
Thin — 4.8% operating margin
Return on the money invested
ROCE
0.8%
Weak — 0.8% 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
-12.5%
Shrinking sales (-12.5% YoY)
Profit growth
EPS YoY
N/A
—
Data not available
How steady the profit is
EPS Consistency
2/8 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
14.0%
Converts sales into free cash efficiently (14.0%)

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
225.95
Heavy debt load (225.95)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
—
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
1.74%
Small dividend — 1.74% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+100.3%
Dividend growing fast (100.3% YoY)

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