The company has issued more shares over this period, which dilutes each existing shareholder’s stake.
Diluted shares outstanding: 102.5M (2021) → 134.8M (2025)
Headquartered in Vancouver, Canada, Neptune Digital Assets Corp. specializes in the development, ownership, and operation of digital currency infrastructure assets within Canada. The company actively participates in staking and lending a diverse range of digital currencies. Its involvement extends to strategic investments across the digital asset ecosystem, covering activities such as Bitcoin mining, cryptocurrency staking, decentralized finance (DeFi), yield farming, and liquidity provision. Furthermore, Neptune Digital Assets manages blockchain nodes and other related technological initiatives in the blockchain space.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
-57.2% YoY
YoY Growth Rate
Revenue declining
+187.5% YoY
YoY Growth Rate
Strong earnings growth
$0/ year
0.0% of revenue
Below sector average (7%)
Research and development spending
~8 years
$21M cash & investments
Quarterly Free Cash Flow
→ Burn rate stable
$21M cash & investments at current burn rate
Neptune Digital Assets's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.
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.
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Negative ROIC means the business is losing money on every dollar invested in it.
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Earnings per share down more than 10%. Either a bad year, or a real decline.
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Free cash flow is negative. They are burning cash, not generating it.
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See every metric, trend, and what it means for this stock.
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