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Chart Industries

GTLS
15
Industrial - Machinery · Industrials
Price
$209.90
-0.01 (-0.00%)
Market Cap
$10.05B
Winston Score
15
Winston is worried
Weak fundamentals across most pillars.

Share count rising — dilution

+10.4% over 4y

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

Diluted shares outstanding: 41.1M (2021) → 45.4M (2025)

Chart Industries makes specialized equipment used to handle very cold gases — things like liquefied natural gas (LNG), hydrogen, and industrial gases. Its products include storage tanks, heat exchangers, and processing systems, and its customers include energy companies, industrial gas producers, and clean energy developers. The company is one of the largest independent makers of cryogenic equipment in the world.

Chart earns money by selling this equipment and providing aftermarket services like repairs and spare parts. It operates globally, with a significant presence in North America, Europe, and Asia, and generated roughly $4 billion in annual revenue following its large acquisition of Howden in 2023. That deal expanded Chart's reach into fans, compressors, and heating systems, but also added substantial debt to the balance sheet — managing that debt load is the company's most immediate financial challenge as it works to grow its clean energy and LNG-related business.

Winston Score History

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Growth Profile

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

Revenue Growth

-11.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-140.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$42M/ year

1.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

0.5%ownership

Relatively low insider ownership

Cash Runway

~3 months

$268M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Chart Industries has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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
28.4%
Modest — 28.4% gross margin
Operating Margin
5.9%
Thin — 5.9% operating margin
ROCE
0.8%
Weak — 0.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
-1.5%
Shrinking sales (-1.5% YoY)
EPS YoY
-116.8%
Earnings shrinking (-116.8% 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
0.2%
Thin free cash flow (0.2%)

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

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Stability

Debt / Equity
1.20
Elevated debt (1.20)
Interest Cover
0.86x
Dangerous — barely covers interest (0.9x)

Interest coverage below 1. Their profits don't cover the interest bill.

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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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