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Korver

KOVR
45
Solar · Energy
Price
$0.00
+0.00 (+0.00%)
Market Cap
$44
Winston Score
45
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Share count rising — dilution

+4393.2% over 3y

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

Diluted shares outstanding: 10K (2015) → 435K (2018)

Korver Corp. is a small solar energy company that develops and sells solar power solutions. The company operates in the renewable energy industry, helping customers generate electricity from sunlight. Its products and services are aimed at reducing reliance on traditional fossil fuels.

Korver generates revenue through solar energy products and related services. The company appears to operate at a very small scale, given its near-zero market capitalization. Its unusually high gross and operating margins suggest a largely asset-light or licensing-based business model, though the very low return on invested capital points to limited earnings power relative to the capital deployed. The key risk for Korver is its small size, which makes it vulnerable to competition from much larger solar companies like First Solar and SunPower, as well as its ability to secure enough customers and capital to grow in a crowded and rapidly evolving market.

Winston Score History

Score breakdown

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Quality

Gross Margin
100.0%
no trend
Premium pricing power — 100.0% gross margin
Operating Margin
91.1%
no trend
Excellent — 91.1% operating margin
ROCE
2.4%
no trend
Weak — 2.4% 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
-14.3%
no trend
Shrinking sales (-14.3% YoY)
EPS YoY
-46.4%
no trend
Earnings shrinking (-46.4% YoY)

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

EPS Consistency
N/A
no trend
Data not available

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Cash Flow

Cash Conversion
-656%
no trend
Weak — only -656% of profit becomes cash
FCF Margin
-597.7%
no trend
Burning cash (-597.7%)

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

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Stability

Debt / Equity
0.56
no trend
Conservative — low debt load (0.56)
Interest Cover
100.00x
no trend
Comfortably covers interest (100.0x)

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

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Valuation

P/E Ratio (TTM)
0.0x
no trend
Attractive valuation — P/E 0.0

P/E under 10. The price tag is small relative to last year's profit.

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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