Skillcast Group

SKL.L

Software - Application · Technology

Price

44.00 GBp

+0.00 (+0.00%)

Market Cap

39.5M GBp

Exchange

London Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 9, 2026 · filings through Dec 31, 2025

Share count rising — dilution

+12.4% over 4y

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

Diluted shares outstanding: 81.2M (2021) → 91.3M (2025)

Skillcast Group plc is a UK-based software company that helps businesses train their employees on compliance topics — things like anti-bribery rules, data privacy laws, and workplace conduct. Its main products are an online learning platform and a library of ready-made compliance training courses. The primary customers are companies in regulated industries such as financial services, insurance, and professional services that are required by law to keep their staff trained and up to date.

Skillcast makes money by charging businesses recurring subscription fees to access its platform and course content, which gives it a relatively predictable revenue stream. It operates mainly in the United Kingdom and generates a gross margin above 75%, which is typical for software businesses with low delivery costs. Its competitive position comes from its deep library of UK-specific compliance content and established relationships with regulated firms, but as a small-cap company it faces real risk from larger e-learning platforms that could expand into its niche with greater resources.

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

+14.3% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+39.7% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

75.2%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$13M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Skillcast Group is a rare growth stock that's already generating positive cash flow while growing at 14%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

75.9%

Premium pricing power — 75.9% gross margin

Operating Margin

9.0%

Modest — 9.0% operating margin

ROCE

10.1%

Below par — 10.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+15.9%

Fast-growing sales (+15.9% YoY)

EPS YoY

+154.4%

Earnings growing fast (+154.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Cash Conversion

331%

Turns 331% of profit into real cash

FCF Margin

27.7%

Converts sales into free cash efficiently (27.7%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

137.46x

Comfortably covers interest (137.5x)

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

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Valuation

P/E Ratio (TTM)

30.3x

Pricey — P/E 30.3

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

P/E vs Forward

+7.7

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (30.3 → 22.6)

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Dividends

Dividend Yield

1.44%

Small dividend — 1.44% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+27.2%

Dividend growing fast (27.2% YoY)

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