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3 Cash-Burning Stocks in the Doghouse

By: StockStory

AL Cover Image

Rapid spending isn’t always a sign of progress. Some cash-burning businesses fail to convert investments into meaningful competitive advantages, leaving them vulnerable.

Negative cash flow can lead to trouble, but StockStory helps you identify the businesses that stand a chance of making it through. That said, here are three cash-burning companies to steer clear of and a few better alternatives.

Air Lease (AL)

Trailing 12-Month Free Cash Flow Margin: -80.1%

Established by a founder of Century City in Los Angeles, Air Lease Corporation (NYSE: AL) provides aircraft leasing and financing solutions to airlines worldwide.

Why Do We Steer Clear of AL?

  1. Muted 6.4% annual revenue growth over the last five years shows its demand lagged behind its industrials peers
  2. Free cash flow margin dropped by 50.5 percentage points over the last five years, implying the company became more capital intensive as competition picked up
  3. Short cash runway increases the probability of a capital raise that dilutes existing shareholders

Air Lease is trading at $53.62 per share, or 3x forward EV-to-EBITDA. Check out our free in-depth research report to learn more about why AL doesn’t pass our bar.

Patterson Companies (PDCO)

Trailing 12-Month Free Cash Flow Margin: -13.3%

With roots dating back to 1877 and serving over 150,000 customers across North America and the UK, Patterson Companies (NASDAQ: PDCO) is a specialty distributor that supplies dental practices and animal health professionals with equipment, consumables, pharmaceuticals, and practice management software.

Why Does PDCO Give Us Pause?

  1. Organic revenue growth fell short of our benchmarks over the past two years and implies it may need to improve its products, pricing, or go-to-market strategy
  2. Earnings per share were flat over the last five years while its revenue grew, showing its incremental sales were less profitable
  3. Cash-burning tendencies make us wonder if it can sustainably generate shareholder value

Patterson Companies’s stock price of $31.34 implies a valuation ratio of 13.6x forward P/E. Read our free research report to see why you should think twice about including PDCO in your portfolio.

Applied Digital (APLD)

Trailing 12-Month Free Cash Flow Margin: -314%

Pivoting from its origins in cryptocurrency mining to become a key player in the AI infrastructure boom, Applied Digital (NASDAQ: APLD) designs and operates specialized data centers that provide high-performance computing infrastructure for artificial intelligence and blockchain applications.

Why Do We Think Twice About APLD?

  1. Historically negative EPS raises concerns for risk-averse investors and makes its earnings potential harder to gauge
  2. Cash-burning history makes us doubt the long-term viability of its business model
  3. Limited cash reserves may force the company to seek unfavorable financing terms that could dilute shareholders

At $5.48 per share, Applied Digital trades at 9.6x forward EV-to-EBITDA. Check out our free in-depth research report to learn more about why APLD doesn’t pass our bar.

Stocks We Like More

Donald Trump’s victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs.

While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years.

Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Comfort Systems (+751% five-year return). Find your next big winner with StockStory today for free.

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