Deep Value: cash covers more than 100% of the stock price

This company holds roughly $118M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Upexi

UPXI

Household & Personal Products · Consumer Defensive

Price

$1.08

+0.15 (+15.72%)

Market Cap

$79.3M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Share count rising — dilution

+937.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 763K (2021) → 7.9M (2025)

Winston Score History

The full picture

Upexi is a small consumer brands company that builds and buys product brands sold mostly online. Its brands span health and wellness, pet products, and lifestyle goods, sold directly to consumers through platforms like Amazon and its own websites. The company focuses on acquiring brands that already have an audience and then growing them through digital marketing.

Upexi makes money by selling physical products directly to shoppers online, keeping a large share of each sale since it owns the brands outright rather than reselling others' goods. It operates primarily in the United States and is a very small company with a market cap around $100 million. The high gross margin suggests strong pricing power on its branded products, but the main risk is that the company depends heavily on Amazon, meaning any change to that platform's fees or algorithms could quickly hurt sales.

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

+44.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+41.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Insider Activity

17.7%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~6 years

$118M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$118M cash & investments at current burn rate

Revenue accelerating

Upexi grew revenue 44% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

93.1%

Premium pricing power — 93.1% gross margin

Profit after running costs

Operating Margin

-127.7%

Losing money on operations — -127.7%

Return on the money invested

ROCE

-3.1%

Weak — -3.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

N/A

Data not available

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

-83.2%

Burning cash (-83.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

4.59x

Adequate interest coverage (4.6x)

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

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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

Not applicable for this business.

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