Zentek

ZTEK

Medical - Instruments & Supplies · Healthcare

Price

$0.47

-0.01 (-2.10%)

Market Cap

$50.6M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+15.0% over 4y

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

Diluted shares outstanding: 92.1M (2022) → 105.9M (2026)

Zentek Ltd. is a Canadian materials science company that develops advanced coatings and filtration technologies. Its main product is ZenGUARD, an antimicrobial graphene-based coating designed to be applied to face masks and air filters to kill or trap pathogens. The company targets healthcare, industrial, and consumer markets looking for enhanced protective equipment.

Zentek earns revenue by licensing its technology and selling coated filtration products, though it is still in an early commercial stage. The company is based in Guelph, Ontario, and operates primarily in Canada with ambitions to expand into the United States and other markets. Its negative gross and operating margins show it is spending far more than it earns right now, which is the central risk — the company must successfully commercialize its graphene coating technology and scale up customer adoption before it runs out of cash.

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

>+1,000% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+26.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$2M/ year

↑ Rising (+256% vs prior year)

995.7% of revenue

55.3x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

4.4%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~0 months

$121,481 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Zentek grew revenue 14032% 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

67.1%

Premium pricing power — 67.1% gross margin

Operating Margin

-258.1%

Losing money on operations — -258.1%

ROCE

-13.9%

Weak — -13.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+1358.2%

Fast-growing sales (1358.2% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-635.7%

Burning cash (-635.7%)

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

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Stability

Debt / Equity

0.02

Conservative — low debt load (0.02)

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

Not applicable for this business.

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