Quantum software S.A. (QNT.WA) Stock Analysis & Winston Score

Quantum Software S.A. is a Polish technology company that builds business software for companies in Central and Eastern Europe. Its core products include ERP (enterprise resource planning) systems, HR and payroll tools, and financial management software aimed at mid-sized businesses across industries like manufacturing, retail, and services.

The company earns money primarily through software licenses, implementation services, and ongoing maintenance or subscription fees from its business customers. It operates mainly in Poland, with some presence in neighboring markets, and generates modest but consistent profitability — reflected in its 16.2% return on invested capital. Its competitive position rests on deep local knowledge of Polish tax, payroll, and regulatory requirements, which creates switching costs for existing customers. The main risk is competition from larger global ERP vendors like SAP and Microsoft, which have significantly more resources and are increasingly targeting the mid-market segment that Quantum Software serves.

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

-9.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-141.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

89.1%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$9M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue declining

Quantum software S.A.'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.

Share count broadly stable

0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 1.4M (2021) → 1.4M (2025)

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

23.9%

Thin — 23.9% gross margin

Operating Margin

-3.0%

Losing money on operations — -3.0%

ROCE

-1.8%

Weak — -1.8% return on capital

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

-1.1%

Shrinking sales (-1.1% YoY)

EPS YoY

-23.7%

Earnings shrinking (-23.7% YoY)

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

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

98%

Turns 98% of profit into real cash

FCF Margin

5.6%

Thin free cash flow (5.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

N/A

Data not available

Interest Cover

41.59x

Comfortably covers interest (41.6x)

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

10.8x

Attractive valuation — P/E 10.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield

5.52%

Healthy income — 5.52% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

-33.2%

Dividend cut (-33.2% YoY) — warning sign

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial