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Enigmatig Limited

EGG
33
Consulting Services · Industrials
Price
$7.49
+0.00 (+0.00%)
Market Cap
$209.6M
Exchange
New York Stock Exchange American
Winston Score
33
Winston is serious
Below-average fundamentals — multiple weak pillars.
Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Share count falling — buybacks

2.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 28.8M (2021) → 28.0M (2025)

Enigmatig Limited is a small consulting services company operating in the industrials sector. Consulting firms like this typically help businesses solve operational, strategic, or technical problems by providing expert advice and specialized services. Clients are usually other businesses or government organizations looking for outside expertise.

Enigmatig generates revenue by charging fees for its consulting work, either through project-based contracts or ongoing service agreements. The company has a gross margin above 66%, which is typical for service businesses with low physical costs, but its operating margin is very thin at under 3%, suggesting high overhead or competitive pricing pressure keeps profits small. With a market cap of around $200 million, it is a relatively small player in a fragmented industry where larger, well-known consulting firms hold significant advantages in brand recognition and client relationships. The main risk the company faces is winning and retaining enough client contracts to improve profitability, as thin margins leave little room for error if revenue slows.

Winston Score History

Growth Profile

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

Revenue Growth

-7.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-291.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

33.1%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$10M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Revenue declining

Enigmatig Limited'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

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Quality

Gross Margin
68.0%
Premium pricing power — 68.0% gross margin
Operating Margin
12.1%
Healthy — 12.1% operating margin
ROCE
3.2%
Weak — 3.2% 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
-14.7%
Shrinking sales (-14.7% YoY)
EPS YoY
-46.9%
Earnings shrinking (-46.9% YoY)

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

EPS Consistency
N/A
Data not available

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Cash Flow

Cash Conversion
-306%
Weak — only -306% of profit becomes cash
FCF Margin
-44.1%
Burning cash (-44.1%)

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

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Stability

Debt / Equity
0.04
Conservative — low debt load (0.04)
Interest Cover
100.00x
Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)
243.2x
Expensive — P/E 243.2

P/E over 35. The market is pricing in heavy, sustained growth.

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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