Scope Industries

SCPJ

Waste Management · Industrials

Price

$325.00

+25.00 (+8.33%)

Market Cap

$297.7M

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count falling — buybacks

−9.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.1M (1999) → 1.0M (2003)

Scope Industries is a small waste management company that collects and recycles food waste, primarily from food processors, restaurants, and agricultural operations. Its core business involves converting leftover food byproducts — like bakery waste and produce scraps — into animal feed ingredients. The company operates in a niche corner of the broader waste management and recycling industry.

Scope Industries earns revenue by charging customers to haul away their food waste and then selling the processed material as low-cost animal feed to livestock producers. The company operates mainly in the western United States and, with a market cap of roughly $300 million, is a small player in its space. Its competitive position relies on established collection routes and long-term relationships with food manufacturers, but thin operating margins of around 8% leave little room for error if volumes drop or processing costs rise.

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

+25.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+146.7% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

75.9%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~23 months

$7M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

Scope Industries grew revenue 26% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

36.4%

Modest — 36.4% gross margin

Operating Margin

7.9%

Modest — 7.9% operating margin

ROCE

2.2%

Weak — 2.2% 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

+10.3%

Steady sales growth (10.3% YoY)

EPS YoY

-73.6%

Earnings shrinking (-73.6% YoY)

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

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

387%

Turns 387% of profit into real cash

FCF Margin

0.0%

Thin free cash flow (0.0%)

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

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Stability

Debt / Equity

0.08

Conservative — low debt load (0.08)

Interest Cover

71.21x

Comfortably covers interest (71.2x)

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

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Valuation

P/E Ratio (TTM)

100.9x

Expensive — P/E 100.9

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

Dividend Yield

3.08%

Moderate income — 3.08% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+60.7%

Dividend growing fast (60.7% YoY)

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