Vaso Corporation

VASO

Medical - Healthcare Information Services · Healthcare

Price

$0.20

-0.00 (-1.17%)

Market Cap

$34.5M

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count rising — dilution

+1.3% over 4y

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

Diluted shares outstanding: 173.8M (2021) → 176.0M (2025)

Vaso Corporation is a small U.S. healthcare company that does two main things: it helps hospitals and doctors' offices manage their IT systems, and it sells and services medical imaging equipment like MRI and ultrasound machines. Its customers are mostly hospitals, clinics, and physician groups across the United States. The company also has a contract with GE HealthCare to distribute and service certain imaging equipment.

Vaso makes money through a mix of recurring IT service contracts, equipment sales, and professional services fees. It operates almost entirely in the United States and is a very small company with a market cap under $100 million. The high gross margin of roughly 62% suggests the IT services segment adds real value, but the razor-thin operating margin and negative return on invested capital show the business struggles to turn revenue into profit — meaning cost control and growing the higher-margin IT division are the key challenges 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

-0.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-47.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$728,000/ year

↓ Declining (-14% vs prior year)

0.8% of revenue

Below sector average (18%)

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

Insider Activity

43.8%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

$35M cash & investments at current burn rate

Revenue declining

Vaso Corporation'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

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Quality

Gross Margin

65.2%

Premium pricing power — 65.2% gross margin

Operating Margin

6.8%

Modest — 6.8% operating margin

ROCE

6.2%

Weak — 6.2% 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

+2.7%

Nearly flat sales (2.7% YoY)

EPS YoY

+70.4%

Earnings growing fast (70.4% YoY)

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

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

591%

Turns 591% of profit into real cash

FCF Margin

7.5%

Modest free cash flow (7.5%)

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

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Stability

Debt / Equity

0.01

Conservative — low debt load (0.01)

Interest Cover

69.92x

Comfortably covers interest (69.9x)

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

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Valuation

P/E Ratio (TTM)

21.3x

Growth-priced — P/E 21.3

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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