Alset

AEI

Real Estate - Development · Real Estate

Price

$1.19

+0.00 (+0.00%)

Market Cap

$46.3M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+1426.6% over 4y

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

Diluted shares outstanding: 1.4M (2021) → 21.4M (2025)

Alset Inc. is a small company that develops residential communities and sells homes, primarily in Texas. It also has side businesses in health and wellness products and financial technology services. The company targets everyday homebuyers looking for planned neighborhoods with built-in amenities.

Alset makes money by selling residential lots and homes, and it earns smaller amounts from its wellness and fintech segments. It operates mainly in the United States, with some ties to Asia through its leadership and corporate history. The company is very small, with a market cap around $100 million, and it does not have a strong competitive moat against larger homebuilders. Its operating margin is deeply negative, meaning it spends far more than it earns, which is the central risk — the company needs to significantly grow home sales revenue or cut costs to reach profitability before it runs low on resources.

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

-8.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+84.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

90.5%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~4 years

$21M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$21M cash & investments at current burn rate

Revenue declining

Alset's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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.

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Quality

Gross Margin

28.1%

Modest — 28.1% gross margin

Operating Margin

-270.4%

Losing money on operations — -270.4%

ROCE

-2.2%

Weak — -2.2% return on capital

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

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Growth

Sales YoY

-72.8%

Shrinking sales (-72.8% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-87.7%

Burning cash (-87.7%)

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

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Stability

Debt / Equity

0.01

Conservative — low debt load (0.01)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

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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