CL Workshop Group Ltd

NWGL
About the company

CL Workshop Group Limited, an integrated forestry company, engages in management and harvesting, and down-stream wood-processing and distribution activities in Europe, Africa, Asia, South America, North America, and China. It operates through two segments, Direct Purchase and Original Design Manufacturer Services; and Manufacturing segments.

Country: Virgin Islands, BritishPrice: $2.22Market Cap: $1.6M

Investment snapshot

6%positive consensus
Scored 1d ago

Positive

1

BUY / PASS

Neutral / negative

2 / 13

NEUTRAL / FAIL

Median fair value

$0.10

-95.5% vs price

Models with upside

0 / 17

Positive margin of safety

Strongest signal

8 of 10 pass — Buffett and Dreman object

Key risk

No clean pass — all 16 investors flag at least one profitability criterion

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

MetricGraham

Defensive Value

Buffett

Quality Compounder

Lynch

GARP

Greenblatt

Magic Formula

Piotroski

F-Score

Dreman

Contrarian Value

Munger

Quality Focus

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Marks

Risk-Aware Value

Ackman

Activist Value

Templeton

Global Bargain Hunter

Sleep

Scale Economies Shared

Asness

Systematic Factors

Neff

Low-P/E Total Return

Schloss

Asset-Value Discipline

O'Shaughnessy

Systematic Factor Composite

VerdictFAILFAILFAILFAIL · Rank #2723 (Top 87.9%)NEUTRALFAILFAILFAILFAILFAILFAILFAILPASSFAILFAILFAILNEUTRAL
Score
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Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/AN/AN/AN/AN/AN/A-177.5%N/AN/AN/A-177.5%N/AN/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2024

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-11-01

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-11-01

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-05-01

Score computed: 2026-11-14

Where It Passes

  • Cash Flow80% pass✓ 10✗ 2▾

    8 of 10 pass — Buffett and Dreman object

    Free Cash Flow Proxy
    ✗BuffettPositive and growing
    FCF Positive and Growing$1.6M
    ✓LynchPositive and growing
    Operating Cash Flow$2.3M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=5.68%, ROA=-21.39%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)15.8x
    ✗Dreman< 8x
    P/E or FCF YieldFCF Yield=99.7%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive3/4 years FCF positive
    ✓MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap4.3%
    ✓Ackman>= 4%
    Price / FCF per Share23.5x
    ✓Ackman<= 25
    Positive Operating Cash Flow frequency3/4 years positive
    ✓SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$1.6M
    ✓Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization+99.74%; #56/4519 (top 1.2%)
    ✓OshaughnessyTop 10% of eligible cross-section

Where It Falls Short

  • Profitability0% pass✓ 3✗ 32▾

    No clean pass — all 16 investors flag at least one profitability criterion

    Positive EPS (10 years)2/5 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)2/5 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-26.7%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROE-95.8%
    ✗Lynch> 15%
    EBIT / Enterprise Value-87.8%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-87.8%, ROC=-61.5%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-21.39%
    ✗PiotroskiROA > 0
    ROA Change YoY-21.97% -> -21.39% (delta: +0.58%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=5.68%, ROA=-21.39%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY9.4% -> 24.4%
    ✓PiotroskiImproved YoY
    Pre-Tax Income / Revenue-40.9%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-95.8%
    ✗Dreman> 12%
    Margin of SafetyP/B=4.0x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-41.1% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency2/4 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-95.8%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend
    ✗TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trend
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-556.43%; #5944/6340 (top 93.8%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+12.88%; #2582/3702 (top 69.7%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-95.83%; #4579/5226 (top 87.6%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.1353; #3841/5884 (top 65.3%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Growth0% pass✓ 1✗ 12▾

    No clean pass — all 8 investors flag at least one growth criterion

    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthInv: -24.7% vs Rev: -15.4%
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction$0.01 (2021) -> $-0.07 (2024)
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency2/4 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth-15.4%
    ✗Ackman>= 5%
    Positive EPS Growth Frequency2/3 years with positive EPS growth
    ✗AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trend
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Efficiency0% pass✓ 1✗ 10▾

    No clean pass — all 8 investors flag at least one efficiency criterion

    Current Ratio1.11
    ✗Graham>= 2.0
    ROIC (3-5 yr avg)
    ✗Buffett> 10%
    ROIC - WACC
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)-61.5%
    ✗Greenblatt> 25%
    Current Ratio Change YoY1.28 -> 1.11
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.47x -> 0.53x
    ✓PiotroskiImproved YoY
    Current Assets / Current Liabilities1.11
    ✗Dreman> 1.5
    Return on Invested Capital
    ✗Munger> 15%
    ROIC (high and growing)FY2022: ROIC=unavailable; FY2023: ROIC=unavailable; FY2024: ROIC=unavailable
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROIC
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)
    ✗SleepROIC > 12% in a majority of years
  • Valuation models0% pass✗ 2▾

    NWGL overvalued: all 2 models price fair value below $2.22 (median $0.10)

    Munger fair value$0.10
    ✗Munger-177.5% margin vs $2.22
    Ackman fair value$0.10
    ✗Ackman-177.5% margin vs $2.22
  • Verdicts7% pass✓ 1✗ 14▾

    Split decision: 13 FAIL · 2 NEUTRAL · 1 PASS

    Overall verdict
    ✗GrahamFAIL (1/9)✗BuffettFAIL (0/9)✗LynchFAIL (3/7)✗GreenblattRank #2723•PiotroskiNEUTRAL (F-Score 7)✗DremanFAIL (0/11)✗MungerFAIL (0/4)✗PabraiFAIL (1/3)✗AkreFAIL (1/6)✗MarksFAIL (1/5)✗AckmanFAIL (2/9)✗TempletonFAIL (1/8)✓SleepPASS (3/6)✗AsnessFAIL (Rank #2225/2370 (Top 93.9%))✗NeffFAIL (1/6)✗SchlossFAIL (0/7)•OshaughnessyNEUTRAL (Not ranked)
  • Valuation15% pass✓ 6✗ 22▾

    11 of 13 flag NWGL's valuation — Graham, Lynch, Greenblatt +8 more

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio4.0x
    ✗Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value-87.8%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-87.8%, ROC=-61.5%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)15.8x
    ✗Dreman< 8x
    Price / Book Value per Share4.0x
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation Reasonableness
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=99.7%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=4.0x
    ✗MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Price / FCF per Share23.5x
    ✓Ackman<= 25
    Price vs. Trailing Low3000% of trailing low ($0.01)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-556.43%; #5944/6340 (top 93.8%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+5.8063; #258/6449 (top 4.0%)
    ✓AsnessTop 30% of eligible cross-section
    Price / Diluted EPS
    ✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Price / Tangible Book Value per ShareN/A (non-positive TBVPS)
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+13.7311; #265/5247 (top 5.1%)
    ✓OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization+99.74%; #56/4519 (top 1.2%)
    ✓OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date+126.53%; #251/6202 (top 4.0%)
    ✓OshaughnessyTop 10% of eligible cross-section
  • Debt & Leverage17% pass✓ 3✗ 12▾

    10 of 12 flag NWGL's debt & leverage — Buffett, Lynch, Dreman +7 more

    LT Debt vs Net Current AssetsLT Debt $0.0M vs NCA $2.0M
    ✓GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 1.14, IC: -8.4x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity1.14
    ✗Lynch< 0.33
    Cash - Long-term Debt$2.9M
    ✓LynchPositive preferred
    LT Debt / Total Assets Change0.98% -> 0.10%
    ✓PiotroskiDecreased YoY
    Current Assets / Current Liabilities1.11
    ✗Dreman> 1.5✗SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity1.14
    ✗Dreman< 0.8✗Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✗SchlossD/E < 1.00x
    Debt Levels1.14
    ✗MungerDebt/Equity < 0.5✗AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDAIC=-8.4x, D/EBITDA=N/A (D&A unavailable)
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity1.14
    ✗Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-1.1367; #3352/4210 (top 79.6%)
    ✗AsnessTop 30% of eligible cross-section

Business & financials

Financial snapshot: annual FY 2024. Current investor scores may use newer quarterly data.

Company Profile

Industry: Construction Materials
SIC Sector: Lumber & Wood Products
Size: Micro Cap($1.6M)
Revenue: $21.5M-15.4% YoY
Net Income: $8.7M+26.9% YoY

Financial Snapshot

Operating Margin--
Return on Equity-95.8%
Debt / Equity1.14
Current Ratio1.11
EPS (Diluted)$-0.07+400.0% 1y
Shares Retired0.0% / −25.8% 2y

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Shareholder Return

Fiscal 2024

Retired 0.0% of shares last year, 25.8% issued over two.

Buybacks
—
Dividends
—

What drove EPS

A buyback raises earnings per share without the company earning more. This splits each year's change into the two.

FY22
400.0% = 258.7% + 39.4%
Earnings Fewer shares More shares

The two parts do not sum exactly to the total — the difference is the cross-term, plus preferred capital where the company has any. It is left visible rather than distributed into the other two.

Share count is the denominator the filer used for diluted EPS, recovered as net income ÷ EPS — not the balance-sheet count, which is a point-in-time figure and would put the timing difference into this split. Years with a loss are omitted: a smaller share count makes a loss per share larger, so the decomposition inverts.

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

MetricFY 2024
Sources
  • 20-F · 2025-05-01
FY 2023
Sources
  • 20-F · 2024-04-25
FY 2022
Sources
  • 20-F · 2024-04-25
FY 2021
Sources
  • 20-F · 2024-04-25
FY 2020
Sources
  • 20-F · 2024-04-25
Market Cap$1.6Mcurrent$1.1Best.$1.0Best.----
Revenue$21.5M↓15%$25.5M↓54%$55.3M↑16%$47.7M--
Operating Income----------
Net Income-$8.7M↑27%-$11.9M↓350%$4.8M↑259%$1.3M--
EPS (Diluted)$-0.07↑36%$-0.11↓320%$0.05↑400%$0.01--
Gross Margin24.4%↑161%9.4%↓74%36.0%↑5%34.4%—
Operating Margin—————
ROE-95.8%↓46%-65.6%↓272%38.3%↑131%16.6%—
Total Debt$10.4M↓19%$12.8M$12.8M----
Shareholders' Equity$9.1M↓50%$18.2M↑46%$12.5M↑56%$8.0M↑17%$6.9M
Current Ratio1.11↓14%1.28↑24%1.04——
Debt / Equity1.14↑61%0.71↓31%1.03——
Operating Cash Flow$2.3M↑1069%-$239.2K↓104%$5.9M↑81%$3.3M--
Free Cash Flow$1.6M↑540%-$355.6K↓108%$4.7M↑550%$718.3K--

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Construction Materials

NWGL vs Peers — Financial Grading

Revenue$21.5MBottom 25%
Net Income$8.7MBottom 25%
ROE-95.8%Bottom 25%
D/E1.14Bottom 25%
Op. Margin—
Curr. Ratio1.11Bottom 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
CRH PUBLIC LTD COCRH$62.0B$93.16$37.4B$3.8B15.6%0.7414.5%1.741/95/92/70/3F-Score 64/11
Snap-on IncSNA$19.0B$368.62$5.2B$1.0B17.1%0.2025.8%4.796/96/94/71/3F-Score 67/11
MASCO CORP /DE/MAS$16.3B$84.68$7.6B$810.0M-437.8%-15.9316.5%1.812/95/92/71/3F-Score 65/11
CEMEX SAB DE CVCX$15.2B$10.55$16.2B$939.0M7.7%0.4411.2%0.822/91/92/70/3F-Score 84/11
VALMONT INDUSTRIES INCVMI$8.1B$420.92$4.1B$350.3M21.5%0.4910.1%2.354/97/92/71/3F-Score 55/11
Simpson Manufacturing Co., Inc.SSD$8.0B$198.01$2.3B$345.1M17.0%0.1519.6%3.545/96/96/71/3F-Score 65/11
Arcosa, Inc.ACA$7.3B$149.03$2.9B$208.4M7.9%0.5811.9%2.203/92/93/70/3F-Score 87/11
Fortune Brands Innovations, Inc.FBIN$5.7B$48.05$4.5B$298.8M12.5%1.0711.6%1.842/94/91/70/3F-Score 54/11