Sndl vs Zevia PBC
Sndl is the larger business, with $678m of revenue in fiscal 2025 against $161m for Zevia PBC (4.2 times as much). Zevia PBC grew faster (4.0% against 0.8%). Sndl kept more of each dollar of sales as profit: a net margin of -1.7% against -6.2%. Sndl carries less debt relative to equity (0.0% against 0.0%).
| Latest fiscal year | SndlSNDL, 2025 | Zevia PBCZVIA, 2025 |
|---|---|---|
| Revenue | $678m | $161m |
| Revenue growth | 0.8% | 4.0% |
| Net income | −$11.3m | −$9.9m |
| Operating margin | -0.7% | -7.3% |
| Net margin | -1.7% | -6.2% |
| Return on equity | -1.4% | -17.1% |
| Free cash flow | $41.6m | −$5.0m |
| Cash | $184m | $25.4m |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $11.0m | — |
| Employees | — | 88 |
| Market value | $348m | $84.0m |
| Price vs our value range | Within our value range | — |
| Moat score | — | 43 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 8 sales |