Castellum (CTM) AI Stock Analysis

• Market Cap: $109.75M
• Dividend Yield: N/A
• Average Volume (3M): 5.71M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• Revenue Growth: 11.09%
• EPS Growth: 64.29%
• Country: US
• Employees: 238
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 0.00
• Shares Outstanding: 94,612,750
• 10 Day Avg. Volume: 1,637,432
• 30 Day Avg. Volume: 5,711,987
• PEG Ratio: 0.21
• Price to Book (P/B): 5.41
• Price to Sales (P/S): 2.47
• P/FCF Ratio: 99.01
• Enterprise Value/Market Cap: 0.76
• Enterprise Value/Revenue: 1.65
• Enterprise Value/Gross Profit: 4.34
• Enterprise Value/Ebitda: -62.01
• 1Y Price Target: $3.50
• Price Target Upside: 250.00% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.01
• Revenue Forecast (FY): $54.50M

• Rating: 53 Neutral
• Price Target: $1.00 ▲(0.00% Upside)

Castellum's overall stock score is primarily impacted by financial performance challenges, including profitability and cash flow issues. However, positive corporate events, such as securing major contracts and reducing debt, provide some optimism. Technical analysis shows mixed signals, and valuation remains a concern due to negative earnings.

Positive Factors

Contract Wins

Securing contracts with the Missile Defense Agency enhances Castellum's market position in defense, supporting long-term revenue growth and technological advancement.

Debt Reduction

Reducing long-term debt to zero improves financial flexibility, allowing Castellum to invest in growth opportunities and strengthen its competitive position.

Market Expansion

Adding IT services to the GSA contract enhances Castellum's ability to compete in new markets, broadening its service offerings and supporting sustainable growth.

Negative Factors

Profitability Challenges

Ongoing profitability issues, with negative net profit and EBIT margins, may hinder Castellum's ability to reinvest in business development and sustain long-term growth.

Cash Flow Issues

Negative cash flows indicate liquidity challenges, potentially limiting Castellum's capacity to fund operations and invest in future growth initiatives.

Leadership Change

Leadership changes can create uncertainty in strategic direction and execution, impacting Castellum's ability to maintain consistent operational performance.

Castellum Business Overview & Revenue Model

Company Description

Castellum (CTM) is a leading real estate company based in Sweden, primarily focused on the acquisition, management, and development of commercial properties. The company operates in various sectors, including office, logistics, and retail spaces, with a strong emphasis on sustainable practices and long-term value creation. Castellum's portfolio includes a diverse range of properties strategically located in urban areas across Sweden, Norway, and Denmark, supporting its mission to enhance urban environments and contribute to sustainable city development.

How the Company Makes Money

Castellum generates revenue primarily through leasing its commercial properties to businesses and organizations, which constitutes its main revenue stream. The company benefits from long-term lease agreements, providing steady rental income. Additionally, Castellum engages in property development, which involves constructing new buildings or renovating existing ones to increase their value and appeal. This development activity can lead to significant profits upon sale or leasing of the upgraded properties. The company also capitalizes on the growing demand for sustainable and energy-efficient buildings, which can attract higher rental rates and enhance tenant retention. Partnerships with local governments and other stakeholders for urban development projects further contribute to its revenue by allowing Castellum to expand its portfolio and enhance its market presence.

Castellum Financial Statement Overview

Summary

Castellum faces significant profitability and cash flow challenges, despite showing some revenue growth and improved leverage. The company needs to address its operational inefficiencies to enhance profitability and cash flow generation. The balance sheet shows some stability, but the negative return on equity and cash flow issues pose risks to financial health.

Income Statement

Castellum's income statement shows a mixed performance. While there is a positive revenue growth rate of 6.33% in the TTM, the company is struggling with profitability, as indicated by negative net profit and EBIT margins. The gross profit margin remains healthy at 39.28%, but the consistent negative net income and EBIT suggest ongoing operational challenges.

Balance Sheet

The balance sheet reflects moderate financial stability. The debt-to-equity ratio has improved to 0.17 in the TTM, indicating better leverage management compared to previous years. However, the return on equity remains negative, highlighting profitability issues. The equity ratio is relatively stable, suggesting a balanced asset structure.

Cash Flow

Cash flow analysis reveals concerns, with negative operating and free cash flows in the TTM. The free cash flow to net income ratio is slightly above 1, indicating some efficiency in converting income to cash. However, the negative free cash flow growth rate and operating cash flow coverage ratio suggest liquidity challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	50.61M	44.76M	45.24M	42.19M	25.07M	13.34M
Gross Profit	19.22M	18.27M	18.68M	17.60M	11.07M	6.18M
EBITDA	-1.35M	-6.53M	-13.28M	-8.06M	-5.80M	362.29K
Net Income	-3.82M	-9.98M	-17.80M	-14.91M	-7.55M	-2.71M
Balance Sheet
Total Assets	46.25M	37.84M	30.11M	33.04M	30.76M	10.61M
Cash, Cash Equivalents and Short-Term Investments	17.82M	12.01M	1.83M	4.64M	2.02M	2.41M
Total Debt	3.30M	11.49M	11.96M	10.11M	11.73M	5.87M
Total Liabilities	9.52M	17.66M	17.16M	15.51M	15.43M	8.01M
Stockholders Equity	36.73M	20.18M	12.95M	17.53M	15.32M	2.61M
Cash Flow
Free Cash Flow	-1.82M	1.12M	-2.28M	900.88K	-1.36M	1.00M
Operating Cash Flow	-1.68M	1.12M	-2.26M	990.16K	-1.35M	1.01M
Investing Cash Flow	94.97K	221.36K	-440.99K	-339.28K	808.83K	-5.45K
Financing Cash Flow	16.66M	9.08M	-104.62K	1.97M	146.84K	109.00K

Castellum Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTM, the sentiment is Positive. The current price of 1 is below the 20-day moving average (MA) of 1.08, below the 50-day MA of 1.08, and below the 200-day MA of 1.10, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 50.33 is Neutral, neither overbought nor oversold. The STOCH value of 61.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CTM.

Castellum Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LDOS	77 Outperform	$24.36B	17.77	29.51%	0.84%	6.48%	22.17%
SAIC	71 Outperform	$4.51B	12.75	23.75%	1.69%	-0.38%	31.38%
PSN	67 Neutral	$7.02B	18.03	15.89%	―	-0.24%	389.03%
BAH	65 Neutral	$11.45B	14.41	74.72%	2.37%	2.42%	3.05%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CTM	53 Neutral	$109.75M	―	-15.66%	―	11.09%	64.29%
CSPI	52 Neutral	$146.64M	―	-3.33%	0.83%	-0.37%	-161.02%

Castellum Corporate Events

Castellum Secures Missile Defense Agency Contracts

Jay O. Wright resigned from his roles at Castellum, Inc., effective December 31, 2025, with Tammy L. Martin appointed as General Counsel and Secretary starting January 1, 2026. On December 8, 2025, Castellum announced the award of multiple Missile Defense Agency SHIELD IDIQ contracts, enhancing its position in delivering AI-enabled, multi-domain defense solutions and supporting national defense objectives.

Castellum Completes $2 Million Debt Paydown

On November 13, 2025, Castellum, Inc. announced the completion of a $2 million debt paydown, fully retiring its note payable to Robert Eisiminger. This achievement marks a significant milestone in the company’s financial strategy, reducing long-term debt to zero and enhancing its ability to invest in business development, thereby strengthening its position to capture major prime contract opportunities.

Castellum Secures Major $66.2M Contract Award

On October 31, 2025, Castellum, Inc. announced that its subsidiary, Specialty Systems, Inc. (SSI), was awarded a $66.2 million contract for logistics, engineering, and cyber support services for the Naval Air Warfare Center Aircraft Division Lakehurst. This contract, which is the company’s first full and open prime contract without small-business set-aside restrictions, is significant as it represents the second-largest contract win in Castellum’s history. The award is expected to enhance Castellum’s technological capabilities and support its growth strategy, reinforcing its position in the large business category and strengthening its mission and services for national security.

Castellum to Attend 2025 Maxim Growth Summit

On October 20, 2025, Castellum, Inc. announced its participation in the 2025 Maxim Growth Summit, scheduled for October 22-23 at The Hard Rock Hotel NYC. This event will provide Castellum with opportunities to engage with institutional investors and industry leaders, potentially enhancing its market positioning and stakeholder relationships.

Castellum Expands IT Services with New GSA Contract

On October 14, 2025, Castellum, Inc. announced that its subsidiary, Specialty Systems, Inc., has added IT services to its General Services Administration Multiple Award Schedule contract, allowing it to bid on competitive contracts related to information technology professional services. This strategic move enhances Castellum’s ability to compete in more markets and respond to requests for quotations and proposals, thereby strengthening its market position and expanding its service offerings.