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

This company holds roughly $8M 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.

WestStar Industrial Limited

WSI.AX

Engineering & Construction · Industrials

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Winston Score History

The full picture

WestStar Industrial Limited is an Australian company that supplies industrial products and services to businesses in demanding sectors like mining, oil and gas, and construction. Its core offerings include hoses, fittings, safety equipment, and related industrial supplies, sold mainly to resource companies and contractors operating in Western Australia and other parts of Australia.

The company earns revenue by selling industrial products and providing maintenance or technical services, operating primarily as a distributor and service provider rather than a manufacturer. With a market capitalization near zero and negative operating margins, WestStar is a small business facing real financial pressure. Its geographic focus on Western Australia ties its fortunes closely to the health of the mining and resources sector, which can swing sharply with commodity prices. The main risk is that thin gross margins of around 12% leave little room for error, and sustained operating losses raise questions about the company's path to profitability without significant revenue growth or cost reductions.

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

-44.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-570.6% YoY

YoY Growth Rate

Earnings declining

Insider Activity

4.6%ownership

Relatively low insider ownership

Cash Runway

~4 months

A$7M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

WestStar Industrial Limited has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

9.9%

Thin — 9.9% gross margin

Profit after running costs

Operating Margin

-3.3%

Losing money on operations — -3.3%

Return on the money invested

ROCE

-19.2%

Weak — -19.2% 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

-25.2%

Shrinking sales (-25.2% 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

-1.7%

Burning cash (-1.7%)

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

0.27

Conservative — low debt load (0.27)

Covers its interest

Interest Cover

N/A

Data not available

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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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