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World Chess

CHSS.L
11
Software - Application · Technology
Price
0.45 GBp
+0.05 (+12.50%)
Market Cap
4.9M GBp
Exchange
London Stock Exchange
Winston Score
11
Winston is worried
Weak fundamentals across most pillars.
Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.
Data as of Sep 7, 2026 · filings through Dec 31, 2025

§How the score breaks down

Quality
Weak
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Share count rising — dilution

+16.9% over 4y

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

Diluted shares outstanding: 666.9M (2021) → 779.6M (2025)

§Winston Score History

The full picture

Operating through its various subsidiaries, World Chess PLC specializes in the global commercialization of chess-related ventures. Its diverse portfolio includes organizing competitive tournaments, managing the official online gaming platform for the International Chess Federation (FIDE) and other sports, cultivating lifestyle and social initiatives centered on the game, and offering a range of chess-themed merchandise. The company was founded in 2012 and maintains its headquarters in London, United Kingdom.

Growth Profile

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

Revenue Growth

+57.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-21.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Cash Runway

~0 months

€40,732 cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Revenue accelerating

World Chess grew revenue 57% 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
30.0%
Modest — 30.0% gross margin
Profit after running costs
Operating Margin
-131.3%
Losing money on operations — -131.3%
Return on the money invested
ROCE
-182.7%
Weak — -182.7% 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
-16.6%
Shrinking sales (-16.6% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
N/A
Data not available

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-315.2%
Burning cash (-315.2%)

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
0.00
Conservative — low debt load (0.00)
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

Not applicable for this business.
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