Zentek

ZTEK

Other Precious Metals · Basic Materials

Price

$0.60

-0.00 (-0.31%)

Market Cap

$76.4M

Exchange

NASDAQ

Winston Score

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 Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+15.0% over 4y

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

Diluted shares outstanding: 92.1M (2022) → 105.9M (2026)

Winston Score History

The full picture

Zentek Ltd. is a Canadian materials science company that develops advanced coatings and filtration technologies. Its main product is ZenGUARD, an antimicrobial graphene-based coating designed to be applied to face masks and air filters to kill or trap pathogens. The company targets healthcare, industrial, and consumer markets looking for enhanced protective equipment.

Zentek earns revenue by licensing its technology and selling coated filtration products, though it is still in an early commercial stage. The company is based in Guelph, Ontario, and operates primarily in Canada with ambitions to expand into the United States and other markets. Its negative gross and operating margins show it is spending far more than it earns right now, which is the central risk — the company must successfully commercialize its graphene coating technology and scale up customer adoption before it runs out of cash.

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

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-36.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

C$2M/ year

↑ Rising (+256% vs prior year)

995.7% of revenue

331.9x the sector average (3%)

Investing heavily in future products and technology

Insider Activity

4.4%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~4 years

C$17M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

C$17M cash & investments at current burn rate

Heavy R&D investment

Zentek is putting 996% of revenue into R&D and that number is rising. That's 331.9x the sector average. With 4+ years of cash runway, they have time to let it pay off.

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

-3785.5%

Thin — -3785.5% gross margin

Profit after running costs

Operating Margin

-6521.7%

Losing money on operations — -6521.7%

Return on the money invested

ROCE

-92.4%

Weak — -92.4% 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

-80.9%

Shrinking sales (-80.9% 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

-3054.1%

Burning cash (-3054.1%)

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

0.20

Conservative — low debt load (0.20)

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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