Deep Value: cash covers about 90% of the stock price

This company holds roughly $17M in cash and investments — about 90% of its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

High-Trend International

HTCO

Marine Shipping · Industrials

Price

$3.20

-0.15 (-4.48%)

Market Cap

$17.5M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 9, 2026 · filings through Apr 30, 2026

Share count rising — dilution

+812.4% over 4y

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

Diluted shares outstanding: 600K (2021) → 5.5M (2025)

High-Trend International Group is a small marine shipping company based in China. It provides ocean freight and cargo transportation services, moving goods across shipping routes primarily in Asia. The company operates in the broader maritime logistics industry, which connects manufacturers and traders who need to move products by sea.

High-Trend earns revenue by charging fees to ship cargo on its vessels. The company is very small, with a market cap near zero, and its financials show serious strain — a gross margin of just 2.6% and a deeply negative operating margin and return on capital suggest it is spending more than it earns. Marine shipping is a highly competitive, cyclical industry where fuel costs, freight rates, and global trade volumes can swing sharply. The main risk for High-Trend is its weak financial position, which makes it vulnerable to any downturn in shipping demand or rise in operating costs, and raises questions about its long-term viability as a going concern.

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

+38.3% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+75.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

70.3%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$17M cash & investments

Quarterly Free Cash Flow

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

Strong grower

High-Trend International is growing revenue at 38% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

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

2.7%

Thin — 2.7% gross margin

Operating Margin

-1.6%

Losing money on operations — -1.6%

ROCE

-38.0%

Weak — -38.0% return on capital

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

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Growth

Sales YoY

+46.1%

Fast-growing sales (+46.1% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/7 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

1.6%

Thin free cash flow (1.6%)

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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