Aeries Technology

AERT

Consulting Services · Industrials

Price

$6.50

-0.29 (-4.27%)

Market Cap

$37.3M

Exchange

NASDAQ Capital Market

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+68.1% over 4y

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

Diluted shares outstanding: 3.6M (2022) → 6.0M (2026)

Aeries Technology is a business consulting and outsourcing firm that helps other companies run their back-office operations more efficiently. Its core services include finance and accounting support, technology staffing, and operational consulting, primarily sold to mid-sized businesses and private equity-backed companies in the United States. The company acts as an extended team for its clients, handling work that those clients would otherwise do in-house.

Aeries makes money by charging fees for ongoing managed services and staffing arrangements, giving it a recurring revenue stream tied to long-term client contracts. The company is headquartered in the U.S. but delivers much of its work through teams based in India, which keeps its labor costs lower than purely domestic competitors. Its small market cap and narrow gross margin of roughly 25% mean it has limited room for error, and its main risk is client concentration — losing one or two large clients could meaningfully hurt revenue.

Winston Score History

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

+4.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+94.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

84.3%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$7M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Growth context

Aeries Technology is growing revenue at 4% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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

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Quality

Gross Margin

26.0%

Modest — 26.0% gross margin

Operating Margin

4.7%

Thin — 4.7% operating margin

ROCE

42.7%

Exceptional — 42.7% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales YoY

+6.1%

Slow sales growth (6.1% YoY)

EPS YoY

-103.6%

Earnings shrinking (-103.6% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

6.6%

Modest free cash flow (6.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

1.11x

Dangerous — barely covers interest (1.1x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

13.7x

Attractive valuation — P/E 13.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

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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