NASDAQ : SNDL
SNDL Inc. — Financial statements
Consumer Staples · Beverages - Wineries & Distilleries · Canada
Last price 1.24 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 302.26M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
SNDL Inc. (SNDL) reported revenue of 922.16M CAD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 922.16M | 946.40M | 920.45M | 909.01M | 712.20M | 56.13M |
| Cost of Revenue | 684.89M | 687.75M | 680.12M | 718.59M | 571.82M | 65.13M |
| Gross Profit | 237.28M | 258.65M | 240.33M | 190.41M | 140.38M | -9.00M |
| Selling, General & Admin | 192.12M | 196.73M | 199.25M | 214.77M | 148.59M | 43.09M |
| Research & Development | 147.00K | 489.00K | 346.00K | 324.00K | 2.45M | 2.45M |
| Operating Expenses | 246.96M | 263.07M | 273.88M | 290.71M | 201.65M | 63.13M |
| Operating Income | -9.68M | -4.42M | -33.55M | -100.30M | -61.27M | -72.13M |
| Interest Expense | -8.38M | -7.52M | -7.70M | -7.92M | -5.90M | -776.00K |
| Interest & Investment Income | 5.66M | 8.43M | 16.31M | 6.12M | 17.62M | 13.72M |
| Earnings From Equity Investments | 5.87M | -3.60M | -65.46M | 6.76M | -43.00M | 32.91M |
| Currency Exchange Gain (Loss) | -294.00K | -1.11M | -583.00K | -367.00K | -19.00K | 531.00K |
| Other Non Operating Income (Expenses) | 294.00K | 241.00K | 4.72M | 5.62M | 10.57M | -95.69M |
| EBT Excluding Unusual Items | -6.54M | -7.99M | -86.25M | -90.09M | -82.00M | -121.42M |
| Merger & Restructuring Charges | -4.59M | -8.09M | -6.55M | -23.29M | -7.13M | -2.77M |
| Impairment of Goodwill | -52.02M | -29.00M | -156.17M | |||
| Gain (Loss) on Sale of Investments | -575.00K | -3.32M | -101.25M | -47.80M | ||
| Gain (Loss) on Sale of Assets | -375.00K | -182.00K | -370.00K | -353.00K | -94.00K | 235.00K |
| Asset Writedown | 1.19M | 482.00K | -17.32M | -25.97M | -39.86M | -60.00M |
| Legal Settlements | 6.45M | |||||
| Other Unusual Items | 5.46M | 290.00K | -2.94M | |||
| Pretax Income | -62.33M | -15.77M | -105.61M | -172.02M | -379.77M | -234.70M |
| Income Tax Expense | -3.17M | -9.40M | -7.34M | -7.91M | ||
| Earnings From Continuing Operations | -59.16M | -15.77M | -96.20M | -172.02M | -372.43M | -226.78M |
| Earnings From Discontinued Operations | -4.54M | |||||
| Net Income to Company | -59.16M | -15.77M | -96.20M | -176.55M | -372.43M | -226.78M |
| Minority Interest in Earnings | 1.41M | 3.89M | 37.31M | -200.00K | ||
| Net Income | -59.16M | -15.77M | -94.80M | -172.66M | -335.11M | -226.98M |
| Net Income to Common | -59.16M | -15.77M | -94.80M | -172.66M | -335.11M | -226.98M |
| Shares Outstanding (Basic) | 255.82M | 258.05M | 264.20M | 259.37M | 229.87M | 186.04M |
| Shares Outstanding (Diluted) | 255.82M | 258.05M | 264.20M | 259.37M | 229.87M | 186.04M |
| EPS (Basic) | -0.23 | -0.06 | -0.36 | -0.67 | -1.46 | -1.22 |
| EPS (Diluted) | -0.23 | -0.06 | -0.36 | -0.67 | -1.46 | -1.22 |
| Free Cash Flow | 41.45M | 58.11M | 46.30M | -24.49M | -17.38M | -159.54M |
| Free Cash Flow Per Share | 0.16 | 0.23 | 0.17 | -0.09 | -0.08 | -0.86 |
| Gross Margin | 25.73% | 27.33% | 26.11% | 20.95% | 19.71% | -16.04% |
| Operating Margin | -1.05% | -0.47% | -3.65% | -11.03% | -8.60% | -128.50% |
| Profit Margin | -6.42% | -1.67% | -10.30% | -18.99% | -47.05% | -404.40% |
| Free Cash Flow Margin | 4.50% | 6.14% | 5.03% | -2.69% | -2.44% | -284.25% |
| EBITDA | -11.94M | 18.94M | -9.13M | -68.88M | -39.86M | -62.86M |
| EBITDA Margin | -1.29% | 2.00% | -0.99% | -7.58% | -5.60% | -111.99% |
| D&A For EBITDA | -2.26M | 23.36M | 24.42M | 31.42M | 21.42M | 9.27M |
| EBIT | -9.68M | -4.42M | -33.55M | -100.30M | -61.27M | -72.13M |
| EBIT Margin | -1.05% | -0.47% | -3.65% | -11.03% | -8.60% | -128.50% |
| Revenue as Reported | 712.20M | 56.13M |
Balance sheet
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 132.48M | 252.24M | 218.36M | 195.04M | 279.59M | 558.25M |
| Short-Term Investments | 245.00K | 568.00K | 27.70M | 3.40M | 6.55M | 3.06M |
| Trading Asset Securities | 225.00K | 21.93M | 83.72M | |||
| Cash & Short-Term Investments | 132.72M | 252.81M | 246.06M | 198.67M | 308.06M | 645.04M |
| Accounts Receivable | 34.73M | 26.87M | 27.38M | 23.82M | 21.26M | 14.86M |
| Other Receivables | 3.55M | 3.57M | 6.21M | 5.08M | ||
| Receivables | 34.73M | 30.42M | 30.95M | 30.03M | 26.34M | 14.86M |
| Inventory | 131.13M | 130.00M | 129.11M | 129.49M | 131.26M | 33.91M |
| Prepaid Expenses | 16.61M | 15.57M | 16.86M | 22.46M | 10.11M | 4.36M |
| Restricted Cash | 8.16M | 20.08M | 19.82M | 19.89M | 19.34M | 27.01M |
| Other Current Assets | 700.00K | 746.00K | 19.05M | 6.38M | 6.38M | 3.00M |
| Total Current Assets | 324.06M | 449.62M | 461.84M | 406.91M | 501.48M | 728.17M |
| Property, Plant & Equipment | 270.98M | 290.25M | 261.25M | 282.60M | 277.56M | 63.19M |
| Long-Term Investments | 485.04M | 397.11M | 421.55M | 567.99M | 609.96M | 483.36M |
| Goodwill | 75.24M | 124.25M | 124.25M | 119.28M | 67.26M | 72.50M |
| Other Intangible Assets | 56.43M | 58.52M | 61.33M | 73.15M | 74.89M | 50.15M |
| Long-Term Accounts Receivable | 9.95M | 11.64M | 15.35M | 18.40M | 19.62M | 22.57M |
| Other Long-Term Assets | 2.46M | 4.53M | 3.68M | 4.84M | 8.58M | 7.72M |
| Total Assets | 1.22B | 1.34B | 1.35B | 1.47B | 1.56B | 1.43B |
| Accounts Payable | 46.90M | 28.01M | 27.06M | 22.04M | 9.77M | 4.17M |
| Accrued Expenses | 28.74M | 29.21M | 46.17M | 38.38M | 34.28M | |
| Current Portion of Leases | 35.71M | 35.46M | 34.26M | 30.54M | 30.21M | 5.70M |
| Other Current Liabilities | 26.00K | 4.40M | 11.00M | 21.70M | ||
| Total Current Liabilities | 82.61M | 92.21M | 90.56M | 103.15M | 89.36M | 65.85M |
| Long-Term Leases | 126.61M | 134.47M | 118.02M | 136.49M | 139.62M | 27.77M |
| Other Long-Term Liabilities | 7.75M | 8.04M | 7.31M | 4.18M | 2.71M | 4.50M |
| Total Liabilities | 216.97M | 234.72M | 215.89M | 243.82M | 231.69M | 98.13M |
| Common Stock | 2.13B | 2.31B | 2.35B | 2.38B | 2.29B | 2.04B |
| Additional Paid-In Capital | 53.38M | 54.04M | 57.16M | 73.01M | 68.96M | 60.73M |
| Retained Earnings | -1.23B | -1.30B | -1.32B | -1.26B | -1.09B | -785.11M |
| Comprehensive Income & Other | 51.52M | 39.20M | 53.44M | 23.96M | 36.73M | 17.98M |
| Total Common Equity | 1.01B | 1.10B | 1.13B | 1.21B | 1.31B | 1.33B |
| Minority Interest | 17.27M | 21.16M | 229.00K | |||
| Shareholders' Equity | 1.01B | 1.10B | 1.13B | 1.23B | 1.33B | 1.33B |
| Total Liabilities & Equity | 1.22B | 1.34B | 1.35B | 1.47B | 1.56B | 1.43B |
| Total Debt | 162.32M | 169.93M | 152.27M | 167.03M | 169.83M | 33.47M |
| Net Cash (Debt) | -29.60M | 82.88M | 93.78M | 31.64M | 138.23M | 611.57M |
| Net Cash Per Share | -0.12 | 0.32 | 0.35 | 0.12 | 0.60 | 3.29 |
| Filing Date Shares Outstanding | 244.78M | 259.21M | 257.29M | 263.08M | 260.10M | 238.52M |
| Total Common Shares Outstanding | 244.78M | 263.36M | 263.02M | 262.78M | 235.19M | 206.04M |
| Working Capital | 241.45M | 357.41M | 371.28M | 303.77M | 412.12M | 662.32M |
| Book Value Per Share | 4.11 | 4.18 | 4.31 | 4.61 | 5.55 | 6.45 |
| Tangible Book Value | 875.52M | 918.43M | 947.78M | 1.02B | 1.16B | 1.21B |
| Tangible Book Value Per Share | 3.58 | 3.49 | 3.60 | 3.88 | 4.95 | 5.86 |
| Land | 9.45M | 9.45M | 9.45M | 20.95M | 11.96M | 12.39M |
| Machinery | 119.71M | 111.67M | 108.90M | 99.16M | 78.92M | 32.78M |
| Construction In Progress | 1.85M | 5.15M | 2.57M | 8.67M | 9.45M | 6.10M |
| Leasehold Improvements | 84.88M | 84.58M | 78.25M | 76.90M | 70.81M | 3.90M |
Cash flow statement
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -59.16M | -15.77M | -94.80M | -172.66M | -335.11M | -226.98M |
| Depreciation & Amortization | 54.60M | 55.37M | 55.79M | 64.06M | 46.64M | 10.16M |
| Other Amortization | 1.56M | 897.00K | 919.00K | 888.00K | 679.00K | |
| Loss (Gain) From Sale of Assets | 375.00K | 182.00K | 370.00K | 353.00K | 94.00K | -235.00K |
| Asset Writedown & Restructuring Costs | 51.80M | 2.62M | 17.32M | 54.97M | 196.03M | 60.00M |
| Loss (Gain) From Sale of Investments | -120.00K | -378.00K | 661.00K | 12.57M | 101.64M | 47.80M |
| Loss (Gain) on Equity Investments | -5.55M | 3.67M | 76.17M | -6.76M | 44.66M | -17.89M |
| Stock-Based Compensation | 3.75M | 13.90M | 20.04M | 15.40M | 9.67M | 12.31M |
| Other Operating Activities | 10.86M | 8.99M | -14.11M | 43.09M | -48.95M | -41.06M |
| Change in Other Net Operating Assets | -7.09M | 1.43M | -7.45M | -32.88M | -22.07M | 150.00K |
| Operating Cash Flow | 51.03M | 70.92M | 54.91M | -16.65M | -6.71M | -155.75M |
| Capital Expenditures | -9.58M | -12.81M | -8.62M | -7.84M | -10.67M | -3.79M |
| Sale of Property, Plant & Equipment | 2.98M | 813.00K | 734.00K | 1.21M | 4.00M | 194.00K |
| Cash Acquisitions | -4.90M | -3.00M | -39.64M | 3.69M | -28.64M | -82.78M |
| Sale (Purchase) of Intangibles | -2.40M | -87.00K | -197.00K | |||
| Investment in Securities | -63.81M | 33.85M | 67.31M | -25.82M | -194.74M | -409.29M |
| Other Investing Activities | -694.00K | -1.40M | 383.00K | 4.03M | 74.00K | -612.00K |
| Investing Cash Flow | -76.01M | 17.45M | 17.76M | -24.82M | -230.16M | -496.28M |
| Long-Term Debt Repaid | -39.24M | -36.95M | -41.01M | -37.69M | -10.36M | |
| Lease Payments | -40.41M | -39.24M | -36.95M | -41.01M | -27.69M | -1.01M |
| Total Debt Repaid | -40.41M | -39.24M | -36.95M | -41.01M | -37.69M | -10.36M |
| Net Debt Issued (Repaid) | -40.41M | -39.24M | -36.95M | -41.01M | -37.69M | -10.36M |
| Issuance of Common Stock | 22.00K | 1.18B | ||||
| Repurchase of Common Stock | -43.43M | -15.35M | -13.22M | -1.54M | -13.39M | |
| Other Financing Activities | 12.86M | 106.00K | 812.00K | -531.00K | 9.27M | -21.55M |
| Financing Cash Flow | -70.98M | -54.49M | -49.36M | -43.08M | -41.79M | 1.15B |
| Foreign Exchange Rate Adjustments | -9.00K | |||||
| Net Cash Flow | -108.10M | 33.88M | 23.32M | -84.55M | -278.67M | 497.88M |
| Free Cash Flow | 41.45M | 58.11M | 46.30M | -24.49M | -17.38M | -159.54M |
| Free Cash Flow Margin | 4.50% | 6.14% | 5.03% | -2.69% | -2.44% | -284.25% |
| Free Cash Flow Per Share | 0.16 | 0.23 | 0.17 | -0.09 | -0.08 | -0.86 |
| Levered Free Cash Flow | 34.97M | 69.32M | 16.11M | 3.40M | -107.14M | -15.61M |
| Unlevered Free Cash Flow | 40.21M | 74.02M | 20.92M | 8.36M | -103.45M | -15.13M |
| Free Cash Flow After Leases | 1.04M | 18.86M | 9.35M | -65.51M | -45.07M | -160.55M |
| Change in Working Capital | -7.09M | 1.43M | -7.45M | -32.88M | -22.07M | 150.00K |
Ratios
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 302.26M | 427.45M | 475.25M | 427.20M | 494.49M | 1.19B |
| Enterprise Value | 323.11M | 365.57M | 391.75M | 416.32M | 487.91M | 613.76M |
| Last Close Price | 1.24 | 1.66 | 1.79 | 1.64 | 2.09 | 5.78 |
| Forward PE | 32.69 | 171.70 | 37.67 | 127.44 | 81.00 | |
| PS Ratio | 0.47 | 0.62 | 0.74 | 0.62 | 0.94 | 26.81 |
| PB Ratio | 0.43 | 0.53 | 0.60 | 0.46 | 0.50 | 1.13 |
| P/TBV Ratio | 0.49 | 0.64 | 0.72 | 0.55 | 0.57 | 1.25 |
| P/FCF Ratio | 10.19 | 10.09 | 14.77 | |||
| P/OCF Ratio | 8.27 | 8.26 | 12.45 | |||
| EV/Sales Ratio | 0.50 | 0.53 | 0.61 | 0.60 | 0.93 | 13.84 |
| EV/EBITDA Ratio | 26.46 | |||||
| EV/FCF Ratio | 10.89 | 8.63 | 12.17 | |||
| Debt / Equity Ratio | 0.16 | 0.15 | 0.13 | 0.14 | 0.13 | 0.03 |
| Debt / EBITDA Ratio | 7.76 | 3.34 | 6.85 | |||
| Debt / FCF Ratio | 3.92 | 2.92 | 3.29 | |||
| Net Debt / Equity Ratio | 0.03 | -0.07 | -0.08 | -0.03 | -0.10 | -0.46 |
| Net Debt / EBITDA Ratio | -2.48 | -4.38 | 10.27 | 0.46 | 3.47 | 9.73 |
| Net Debt / FCF Ratio | 0.71 | -1.43 | -2.03 | 1.29 | 7.96 | 3.83 |
| Asset Turnover | 0.72 | 0.70 | 0.65 | 0.60 | 0.48 | 0.07 |
| Inventory Turnover | 5.27 | 5.31 | 5.26 | 5.51 | 6.92 | 2.07 |
| Quick Ratio | 2.03 | 3.07 | 3.06 | 2.22 | 3.74 | 10.02 |
| Current Ratio | 3.92 | 4.88 | 5.10 | 3.94 | 5.61 | 11.06 |
| Return on Equity (ROE) | -5.62% | -1.41% | -8.14% | -13.45% | -28.03% | -28.36% |
| Return on Assets (ROA) | -0.48% | -0.21% | -1.49% | -4.13% | -2.56% | -5.23% |
| Return on Capital Employed (ROCE) | -0.80% | -0.40% | -2.70% | -7.30% | -4.20% | -5.30% |
| Earnings Yield | -13.14% | -2.69% | -13.86% | -30.60% | -50.07% | -15.09% |
| FCF Yield | 9.82% | 9.91% | 6.77% | -4.34% | -2.60% | -10.60% |
| Buyback Yield / Dilution | 1.48% | 2.33% | -1.86% | -12.83% | -23.56% | -750.85% |