Forafric Global

AFRI

Agricultural Farm Products · Consumer Defensive

Price

$10.85

+0.34 (+3.24%)

Market Cap

$292.6M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+30.9% over 4y

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

Diluted shares outstanding: 20.6M (2021) → 26.9M (2025)

Forafric Global PLC engages in the purchase, storage, transport, processing, and sale of agricultural commodities and commodity products in Morocco and Sub-Saharan Africa. The company offers flour and semolina; and secondary processing products, such as pasta and couscous under the Tria and MayMouna brands. It serves wholesale foods manufacturers and distributors The company also exports its products to approximately 45 countries. Forafric Global PLC is headquartered in Gibraltar.

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

+13.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-50.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Insider Activity

81.6%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$12M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Forafric Global is a rare growth stock that's already generating positive cash flow while growing at 13%. 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

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Quality

Gross Margin

11.3%

Thin — 11.3% gross margin

Operating Margin

-2.2%

Losing money on operations — -2.2%

ROCE

-1.1%

Weak — -1.1% return on capital

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

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Growth

Sales YoY

+15.9%

Fast-growing sales (15.9% 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

9.2%

Modest free cash flow (9.2%)

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

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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