AssessmentZDC trades at a decent valuation of 3.6X forward sales, but its current margins are thin and it does not generate positive free cash flow. Share price momentum is good, and it has brought down its debt to a comfortable debt/equity level, however, its net debt/EBITDA is high at 4.9X. That said, sales growth has generally been strong over the years, and sales are expected to grow by more than 60% in FY2025 and FY2026. We like its momentum and we would be comfortable with a small position, while acknowledging its small-cap risks and potentially high levels of volatility.(5iResearch)