BRC vs Sndl
Sndl is the larger business, with $678m of revenue in fiscal 2025 against $398m for BRC (1.7 times as much). BRC grew faster (1.7% against 0.8%). Sndl kept more of each dollar of sales as profit: a net margin of -1.7% against -3.0%. Sndl carries less debt relative to equity (0.0% against 85.6%).
| Latest fiscal year | BRCBRCC, 2025 | SndlSNDL, 2025 |
|---|---|---|
| Revenue | $398m | $678m |
| Revenue growth | 1.7% | 0.8% |
| Net income | −$11.9m | −$11.3m |
| Operating margin | -6.2% | -0.7% |
| Net margin | -3.0% | -1.7% |
| Return on equity | -40.5% | -1.4% |
| Free cash flow | −$13.5m | $41.6m |
| Cash | $4.3m | $184m |
| Total debt | $39.1m | $0 |
| Debt to equity | 85.6% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $11.0m |
| Employees | 468 | — |
| Market value | $118m | $348m |
| Price vs our value range | — | Within our value range |
| Moat score | 30 (Weak) | — |
| Insider trades, 12 months | 6 buys, 9 sales | 0 buys, 0 sales |