Touchstar

TST.L

Computer Hardware · Technology

Price

82.50 GBp

-2.00 (-2.37%)

Market Cap

6.6M GBp

Exchange

London Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

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

Share count falling — buybacks

−3.9% over 4y

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

Diluted shares outstanding: 8.5M (2021) → 8.1M (2025)

Touchstar plc is a small UK-based technology company that makes rugged mobile computing devices and software for workers in industrial and field-based environments. Its products include handheld computers and data capture systems used by businesses in sectors like fuel distribution, transport, and warehousing. The company sells both the hardware and the software that runs on it, giving customers a complete solution for managing mobile workers.

Touchstar earns revenue through a mix of hardware sales, software licenses, and ongoing support and maintenance contracts. It operates primarily in the United Kingdom and serves a relatively niche set of industrial customers. Its competitive position comes from deep specialization in rugged, purpose-built devices for specific industries, which makes it harder for customers to switch to generic alternatives. However, with an operating margin near zero and a very small market cap, the company faces real pressure to grow recurring software revenue and control costs to reach consistent profitability.

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

-1.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-854.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

50.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Revenue declining

Touchstar'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.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

49.6%

Healthy — 49.6% gross margin

Operating Margin

4.4%

Thin — 4.4% operating margin

ROCE

7.4%

Weak — 7.4% 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

-1.0%

Shrinking sales (-1.0% YoY)

EPS YoY

-399.8%

Earnings shrinking (-399.8% YoY)

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

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

10.3%

Modest free cash flow (10.3%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.08

Conservative — low debt load (0.08)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

3.80%

Moderate income — 3.80% yield

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

Dividend Growth

+131.0%

Dividend growing fast (131.0% YoY)

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