Castellum

CTM

Information Technology Services · Technology

Price

$0.62

+0.01 (+1.33%)

Market Cap

$59.0M

Exchange

New York Stock Exchange American

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+418.6% over 4y

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

Diluted shares outstanding: 18.3M (2021) → 94.7M (2025)

Castellum, Inc. is a small technology services company that provides cybersecurity, software development, and IT support services. Its main customers are U.S. federal government agencies, including the Department of Defense and other defense and intelligence clients. The company has grown largely by acquiring smaller government IT contractors.

Castellum earns revenue through government contracts, typically structured as fixed-price or time-and-materials agreements with federal agencies. It operates almost entirely within the United States, and its competitive position depends heavily on holding the security clearances and certifications required to work on sensitive government programs. The company is currently unprofitable at the operating level, and its biggest challenge is integrating its acquisitions efficiently while winning enough new contract awards to reach sustainable profitability.

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

+22.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+75.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

21.4%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$16M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Growth + cash flow

Castellum is a rare growth stock that's already generating positive cash flow while growing at 23%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

Gross Margin

35.4%

Modest — 35.4% gross margin

Operating Margin

-4.9%

Losing money on operations — -4.9%

ROCE

-1.9%

Weak — -1.9% return on capital

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

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Growth

Sales YoY

+23.1%

Fast-growing sales (23.1% YoY)

EPS YoY

N/A

—

Data not available

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

2.6%

Thin free cash flow (2.6%)

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

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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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