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GPGI

GPGI
14
Manufacturing - Metal Fabrication · Industrials
Price
$14.51
-0.40 (-2.68%)
Market Cap
$4.21B
Winston Score
14
Winston is worried
Weak fundamentals across most pillars.
Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Share count rising — dilution

+33.7% over 4y

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

Diluted shares outstanding: 94.6M (2021) → 126.4M (2025)

GPGI, Inc. is a metal fabrication company operating in the industrials sector. It manufactures fabricated metal components and assemblies, typically serving customers in industries such as construction, infrastructure, or industrial equipment. Metal fabrication companies like this one cut, shape, and weld raw metal into finished or semi-finished parts used by other businesses.

The company generates revenue primarily through product sales to business customers rather than consumers. With a market cap of around $3.5 billion, it is a mid-sized player in a fragmented and competitive industry. The gross margin reported at 0% and a negative return on invested capital of -2.2% suggest the business is currently struggling to cover its costs, which is a meaningful concern for profitability. The key risk facing GPGI is its ability to improve margins in an industry where raw material costs, labor, and competition from lower-cost producers can squeeze earnings significantly.

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

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-981.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

65.8%ownership

Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~0 months

$7M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

GPGI 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

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Quality

Gross Margin
48.1%
Healthy — 48.1% gross margin
Operating Margin
-23.0%
Losing money on operations — -23.0%
ROCE
-5.6%
Weak — -5.6% return on capital

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

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Growth

Sales YoY
-85.8%
Shrinking sales (-85.8% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
N/A
Data not available

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-38.9%
Burning cash (-38.9%)

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

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Stability

Debt / Equity
0.00
Conservative — low debt load (0.00)
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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