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IGS Capital Group Limited

IGSC
42
Shell Companies · Financial Services
Price
$0.51
-0.60 (-54.05%)
Market Cap
$1.8M
Winston Score
42
Winston is serious
Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+704.0% over 7y

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

Diluted shares outstanding: 31.5M (2018) → 253.0M (2025)

IGS Capital Group Limited is a small financial services company based in Asia. It provides capital markets advisory and related financial services, helping businesses raise money, structure deals, and navigate investment transactions. The company operates in a sector often described as a "shell company," meaning its current business activities may be limited or in the process of being reorganized or redirected.

The company earns revenue through fees tied to financial advisory work and deal-related services, reflected in its modest gross margin of around 24%. It is a very small firm with a market cap near zero, which signals limited scale and thin investor interest. The main risk here is transparency — shell-classified companies often have unclear business operations, limited public disclosure, and higher uncertainty around how and whether the business will grow in a meaningful way.

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

Revenue data limited

EPS Growth

YoY Growth Rate

EPS data limited

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

89.8%ownership

Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~0 months

$60,571 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

IGS Capital Group Limited 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.

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Quality

Gross Margin
28.7%
Modest — 28.7% gross margin
Operating Margin
-0.9%
Losing money on operations — -0.9%
ROCE
-0.2%
Weak — -0.2% return on capital

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

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Growth

Sales YoY
+443.2%
Fast-growing sales (443.2% YoY)
EPS YoY
+7646.7%
Earnings growing fast (7646.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion
-74%
Weak — only -74% of profit becomes cash
FCF Margin
-30.9%
Burning cash (-30.9%)

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

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Stability

Debt / Equity
0.05
Conservative — low debt load (0.05)
Interest Cover
4.41x
Adequate interest coverage (4.4x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)
154.5x
Expensive — P/E 154.5

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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