U.S. Global Investors

GROW

Asset Management · Financial Services

Price

$3.10

+0.00 (+0.00%)

Market Cap

$39.3M

Exchange

NASDAQ Capital Market

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

Share count falling — buybacks

−11.4% over 4y

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

Diluted shares outstanding: 15.1M (2021) → 13.3M (2025)

U.S. Global Investors is a small investment management firm based in San Antonio, Texas. It runs mutual funds and exchange-traded funds (ETFs) focused on niche areas like gold and precious metals, natural resources, and airline and transportation stocks. Individual investors and financial advisors are its main customers.

The company makes money by charging management fees based on the assets it holds on behalf of investors — the more money in its funds, the more it earns. It operates primarily in the United States but has some international exposure through its fund holdings. Its niche focus on commodities and travel sectors gives it a distinct identity, but that same narrow focus is also its biggest risk: when gold prices fall or air travel slows down, assets under management can drop quickly, squeezing revenue. With a negative operating margin, the company currently spends more than it earns from operations, making asset growth the critical challenge ahead.

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

+95.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+885.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

5.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$43M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Revenue accelerating

U.S. Global Investors grew revenue 95% 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

99.5%

Premium pricing power — 99.5% gross margin

Operating Margin

35.1%

Excellent — 35.1% operating margin

ROCE

3.1%

Weak — 3.1% 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

+21.3%

Fast-growing sales (+21.3% YoY)

EPS YoY

>+1,000%

Earnings growing fast (>+1,000% YoY)

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

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

16%

Weak — only 16% of profit becomes cash

FCF Margin

4.3%

Thin free cash flow (4.3%)

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

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

11.5x

Attractive valuation — P/E 11.5

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

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Dividends

Dividend Yield

3.02%

Moderate income — 3.02% yield

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

Dividend Growth

+0.0%

Dividend flat

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