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SETO Holdings

SETO
41
Medical - Care Facilities · Healthcare
Price
$0.01
+0.00 (+0.00%)
Market Cap
$174,636
Winston Score
41
Winston is serious
Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+717.9% over 22y

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

Diluted shares outstanding: 14.5M (2003) → 118.5M (2025)

SETO Holdings, Inc. is a small healthcare company focused on providing medical and wellness services. It operates in the care facilities space, which includes clinics or treatment centers that serve patients directly. The company targets individual patients and healthcare consumers looking for outpatient or specialty care services.

SETO generates revenue by charging patients and insurers for the medical services it delivers, which is a fee-for-service model common in the care facilities industry. The company appears to operate on a limited geographic scale, consistent with its very small market capitalization. Its operating margin is deeply negative at -62.5%, meaning it spends far more than it earns, and its return on invested capital is also negative, signaling the business is not yet profitable. The primary risk facing SETO is its ability to control costs and reach profitability before it runs out of financial resources, which is a common challenge for small healthcare operators competing against larger, better-funded networks.

Winston Score History

Score breakdown

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Quality

Gross Margin
66.1%
Premium pricing power — 66.1% gross margin
Operating Margin
31.4%
Excellent — 31.4% operating margin
ROCE
4.3%
Weak — 4.3% 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
N/A
Data not available
EPS YoY
N/A
Data not available
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-7.7%
Burning cash (-7.7%)

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

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Stability

Debt / Equity
0.06
Conservative — low debt load (0.06)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
35.0x
Pricey — P/E 35.0

P/E above the market average. People are paying up for expected 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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