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Cronos Group Inc. (CRON) stock

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NASDAQ: CRON Nasdaq Pharmaceuticals Next results ~November 5, 2026

B+ Fundamentals grade

Cronos Group Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$3.9

Cash-flow model

Base case. Range ~$3.5–$4.5 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 18% above it.

Price used: $3.33, November 2, 2026

Cronos Group Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds63 adding, 61 cuttingOf 13 active managers that changed their stake, 6 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Cronos Group files

Where Cronos stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $179m, up 37.5% on a year earlier, faster than the 28.0% growth a quarter earlier. That growth ranks 7 of 51 among the pharmaceuticals companies we cover. Free-cash-flow margin rose to 27.8% from -6.9% a year earlier. Operating margin widened to -1.4% from -41.8%. The diluted share count is down 2.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $3.88 a share, against a share price of $3.30.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Cronos Group Inc.'s trailing-twelve-month revenue grew 37.5% year on year, with a free-cash-flow margin of 27.8%. Where it stands out: net margin of 39.1% ranks 3 of 75 pharmaceuticals companies we cover.

Our discounted-cash-flow model values the business at ~$3.9 per share in the base case (~$3.5–$4.5 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 802% in the quarter to 2026-06-30, the 2nd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 37.5% over the last 12 months, against a median of 10.0% for pharmaceuticals companies we cover.
  • Growth speeding up. The growth rate is 9.4 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 40.4 points on a year ago.
  • Strong cash generation. 27.8% of revenue turned into free cash flow, against a median of 10.1% for pharmaceuticals companies we cover.
  • Shrinking share count. Diluted shares fell 2.1% in a year, so each share owns more of the business.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -1.4%: costs exceed revenue.
  • Weak cash conversion. Free cash flow was 71% of net income over the last 12 months.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.13 against an average estimate of $0.01: beat by 802.1%
Revenue
$53m, up 58.4% on a year earlier
Share reaction
+14.0% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026

Cronos Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.9%
  • 1 week+0.6%
  • 1 month+3.3%
  • This year+26.6%
  • 1 year+32.7%
  • 5 years-39.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$179M
Operating margin
-1.4%
Net margin
39.1%
EPS (TTM, diluted)
$0.18

Growth

Revenue growth
+37.5%
Change in growth rate
+9.4 pts
Share count change
−2.1%

Cash

Free cash flow (TTM)
$49.8M
FCF margin
27.8%
Stock pay % of revenue
3.6%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Deal
  2. Agreement
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Cronos Group Inc. valuation models and calculator

What the price is pricing in

The share price implies about 16.7% a year of cash-flow growth for five years.That is slower than the 22.6% a year revenue growth Cronos Group has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in16.7%
  • Last 12 months37.5%
  • 3 years a year30.3%
  • 5 years a year22.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($3.39, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$3.9
Price used
$3.39close November 3, 2026
Implied change
▲ +16%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Cronos Group Inc.'s free cash flow after stock-based pay with after-tax interest added back ($13.4M, FY2026 Q2 TTM), growing 33.7% and 22.7% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$3.5–~$4.5 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Cronos Group Inc.'s free cash flow after stock-based pay ( $13.4M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Cronos Group Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.76 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$3.9 ~$3.5–$4.5 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$4.3 ~$3.3–$5.1 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.3 ~$2.4–$4.7 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.6 ~$2.3–$4.3 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Cronos Group Inc. with Pharmaceuticals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −18%
  • Revenue growth 5 points higher ▲ +23%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Discount rate 1 point higher ▼ −12%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $3$3$3$3$4$4
8.5% $2$3$3$3$3$4
10% $2$2$3$3$3$3

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$10.39$7.67$6.94$3.92$2.54$2.09$2.02$2.63$3.33
Market value$3.6bn$2.6bn$2.4bn$1.5bn$957m$796m$779m$1.0bn$1.3bn
+ Net debt (− = net cash)−$24m−$1.2bn−$1.1bn−$887m−$765m−$669m−$859m−$792m−$467m
Enterprise value$3.6bn$1.4bn$1.4bn$565m$193m$127m−$80m$217m$797m
Multiples
Price / sales n/m110.7x52.2x22.5x11.0x9.1x6.6x6.9x7.1x
Price / earnings —2.3x————19.0x—18.1x
Price / free cash flow ——————121.1xn/m25.4x
EV / EBITDA ————————140.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

12 /100

Weak moat

How hard Cronos Group's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -3.6% of total assets over 5 years.

  • Pricing power 0 / 20

    Gross margin has been a median 15.7%, moving by 51.6 percentage points (standard deviation) across 8 years.

  • Durability 10 / 20

    Operating margin has been a median -73.6%; its worst year was -784.0%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 2 of 7 years, at a median -123.2% of revenue.

  • Discipline 4 / 20

    The diluted share count rose 7.1% over five years; stock-based pay has been a median 13.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (17 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $73m for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.24 +965% $302m +50%
Next $0.26 +9% $391m +30%

How the EPS forecast has moved

In the last 30 days, 0 analysts raised Cronos Group Inc.'s forecast and 2 cut it.

Consensus EPS forecast Cronos Group Inc., last 90 days
$0.15 $0.20 $0.25 $0.30 60 days ago 30 days ago 7 days ago Now Current fiscal year, 60 days ago: $0.22 Current fiscal year, 30 days ago: $0.22 Current fiscal year, 7 days ago: $0.21 Current fiscal year, Now: $0.24 $0.24 Next fiscal year, 60 days ago: $0.16 Next fiscal year, 30 days ago: $0.16 Next fiscal year, 7 days ago: $0.20 Next fiscal year, Now: $0.26 $0.26

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
60 days ago $0.22$0.16
30 days ago $0.22$0.16
7 days ago $0.21$0.20
Now $0.24$0.26

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.01 $0.13 +802.1%
Mar 2026 $0.01 $0.05 +682.3%
Dec 2025 $0.02 $0.00 −100.0%
Sept 2025 $0.00 $0.10 0.0%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Cronos Group Inc.'s revenue by +33.7% next year and +22.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+41.4%, weight 64%) and the company's own record (+20.0%, weight 36%) . How the weights are set.

Analyst recommendations

5 analysts, Oct 2026
Buy480%
Hold120%
Sell00%

Monthly trend

  1. Oct 2026415
  2. Sep 2026314
  3. Aug 2026314
  4. Jul 2026314

Counts of recommendations published by analysts covering Cronos Group Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.2%
of tradable shares
Days to cover
4.6
at average volume
Short interest, 1 month
+22%
to October 15, 2026
Held by institutions
16%
of shares
Held by insiders
49.1%
of shares
Employees
610
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +32.7%

$2.51 on October 31, 2025 to $3.33

ThenNowEffect
Revenue (last 12 months) $130m $179m +37.5%
Net margin 14.2% 39.1% +175.3%
P/E multiple 52.6x 18.1x −65.7%
Share count 388m 380m +2.1%

Biggest factor: p/e multiple.

Last 3 years +79.0%

$1.86 on November 3, 2023 to $3.33

ThenNowEffect
Revenue (last 12 months) $81m $179m +121.2%
P/S multiple 8.7x 7.1x −19.1%
Share count 380m 380m 0.0%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CRON−44%−35%−18%−3%+30%+27%
Industry peers (median)−18%−52%−13%−2%+7%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CRON25%25%33%33%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CRON−75%−41%−36%−38%−23%−14%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since February 27, 2018: 93% from March 5, 2019 to April 8, 2025. Getting back needed a 1363% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.30 – $3.55
From 52-week high
−6.2%
vs 50-day average
+0.8%
vs 200-day average
+16.5%
Volatility (1 year)
40%
Beta vs S&P 500
0.59

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
9 up, 3 down
typical move ±7.4%
After a week
10 up, 2 down
typical move ±9.5%
After a month
7 up, 5 down
typical move ±8.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +14.0% +0.5% +16.2% +19.9%
May 11, 2026 +9.1% +0.1% +3.1% +7.9%
February 26, 2026 −3.6% −1.0% −7.2% −9.7%
November 6, 2025 +1.2% −1.0% +1.2% +0.8%
August 7, 2025 +9.5% +0.7% +20.0% +18.1%
May 8, 2025 +7.0% +0.6% +12.4% +5.9%
February 27, 2025 +10.8% −0.1% +8.6% −3.2%
November 12, 2024 +10.2% −0.3% +3.0% −0.5%
August 8, 2024 −0.9% +2.8% +8.6% −0.5%
May 9, 2024 +7.4% +0.7% +17.1% −3.5%
February 29, 2024 −10.6% +1.3% −12.8% +16.8%
November 8, 2023 +4.2% −0.7% +3.2% +11.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Cronos Group Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: no liquid put with an effective price at or below fair value.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Cronos Group Inc. in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Cronos Group Inc.
$50M $100M $150M $200M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $85.4M Revenue (TTM), FY23 Q4: $87.2M Revenue (TTM), FY24 Q1: $93M Revenue (TTM), FY24 Q2: $101.8M Revenue (TTM), FY24 Q3: $111.2M Revenue (TTM), FY24 Q4: $117.6M Revenue (TTM), FY25 Q1: $124.6M Revenue (TTM), FY25 Q2: $130.3M Revenue (TTM), FY25 Q3: $132.4M Revenue (TTM), FY25 Q4: $146.6M Revenue (TTM), FY26 Q1: $159.5M Revenue (TTM), FY26 Q2: $179.1M $179.1M

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $85.4M
FY23 Q4 $87.2M
FY24 Q1 $93M
FY24 Q2 $101.8M
FY24 Q3 $111.2M
FY24 Q4 $117.6M
FY25 Q1 $124.6M
FY25 Q2 $130.3M
FY25 Q3 $132.4M
FY25 Q4 $146.6M
FY26 Q1 $159.5M
FY26 Q2 $179.1M
Revenue growth, TTM YoY Cronos Group Inc.
-10% 0% 10% 20% 30% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 2.9% Revenue growth, TTM YoY, FY23 Q4: -2.1% Revenue growth, TTM YoY, FY24 Q1: 11.4% Revenue growth, TTM YoY, FY24 Q2: 25.7% Revenue growth, TTM YoY, FY24 Q3: 30.3% Revenue growth, TTM YoY, FY24 Q4: 34.8% Revenue growth, TTM YoY, FY25 Q1: 33.9% Revenue growth, TTM YoY, FY25 Q2: 28.0% Revenue growth, TTM YoY, FY25 Q3: 19.0% Revenue growth, TTM YoY, FY25 Q4: 24.6% Revenue growth, TTM YoY, FY26 Q1: 28.0% Revenue growth, TTM YoY, FY26 Q2: 37.5% 37.5%

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 2.9%
FY23 Q4 -2.1%
FY24 Q1 11.4%
FY24 Q2 25.7%
FY24 Q3 30.3%
FY24 Q4 34.8%
FY25 Q1 33.9%
FY25 Q2 28.0%
FY25 Q3 19.0%
FY25 Q4 24.6%
FY26 Q1 28.0%
FY26 Q2 37.5%
Operating margin (TTM) Cronos Group Inc.
-150% -100% -50% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -105.7% Operating margin (TTM), FY23 Q4: -97.2% Operating margin (TTM), FY24 Q1: -86.0% Operating margin (TTM), FY24 Q2: -73.6% Operating margin (TTM), FY24 Q3: -78.0% Operating margin (TTM), FY24 Q4: -65.1% Operating margin (TTM), FY25 Q1: -51.9% Operating margin (TTM), FY25 Q2: -41.8% Operating margin (TTM), FY25 Q3: -16.1% Operating margin (TTM), FY25 Q4: -11.9% Operating margin (TTM), FY26 Q1: -9.5% Operating margin (TTM), FY26 Q2: -1.4% -1.4%

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -105.7%
FY23 Q4 -97.2%
FY24 Q1 -86.0%
FY24 Q2 -73.6%
FY24 Q3 -78.0%
FY24 Q4 -65.1%
FY25 Q1 -51.9%
FY25 Q2 -41.8%
FY25 Q3 -16.1%
FY25 Q4 -11.9%
FY26 Q1 -9.5%
FY26 Q2 -1.4%
FCF margin (TTM) Cronos Group Inc.
-150% -100% -50% 0% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -100.4% FCF margin (TTM), FY23 Q4: -52.0% FCF margin (TTM), FY24 Q1: -0.8% FCF margin (TTM), FY24 Q2: 12.3% FCF margin (TTM), FY24 Q3: 16.0% FCF margin (TTM), FY24 Q4: 5.5% FCF margin (TTM), FY25 Q1: -5.6% FCF margin (TTM), FY25 Q2: -6.9% FCF margin (TTM), FY25 Q3: -4.1% FCF margin (TTM), FY25 Q4: 0.1% FCF margin (TTM), FY26 Q1: 16.6% FCF margin (TTM), FY26 Q2: 27.8% 27.8%

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -100.4%
FY23 Q4 -52.0%
FY24 Q1 -0.8%
FY24 Q2 12.3%
FY24 Q3 16.0%
FY24 Q4 5.5%
FY25 Q1 -5.6%
FY25 Q2 -6.9%
FY25 Q3 -4.1%
FY25 Q4 0.1%
FY26 Q1 16.6%
FY26 Q2 27.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A, 40-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 3 12 24 47 65 87 87 118 147 179
Gross profit 2 6 −18 −26 −18 15 12 25 63 82
EBITDA −5 −19 −149 −212 −277 −98 −77 −67 −3 6
Operating income −6 −20 −153 −219 −292 −111 −85 −77 −17 −2
Net income −1 −22 1,167 −73 −396 −169 −74 41 −9 70
Diluted EPS −$0.01 −$0.06 $3.33 −$0.21 −$1.07 −$0.45 −$0.19 $0.11 −$0.02 $0.18
Growth (year on year)
Revenue — +285.2% +95.9% +96.7% +38.2% +34.4% +0.6% +34.8% +24.6% +37.5%
Net income — — — −106.3% — — — — −123.0% +278.5%
Diluted EPS — — — −106.3% — — — — −118.2% +286.6%
Margins
Gross margin 50.0% 51.3% −74.1% −55.3% −27.3% 17.8% 13.7% 21.4% 42.8% 45.9%
EBITDA margin −170.1% −152.7% −627.6% −454.5% −428.4% −113.3% −87.9% −57.1% −2.2% 3.2%
Operating margin −194.5% −168.7% −645.5% −469.6% −452.2% −128.4% −97.2% −65.1% −11.9% −1.4%
Net margin −47.1% −178.5% >999% −156.5% −613.5% −194.5% −84.8% 34.9% −6.4% 39.1%
Free-cash-flow margin <−999% −790.6% −715.2% −377.3% −255.2% −106.5% −52.0% 5.5% 0.1% 27.8%
Cash flow
Cash from operations −4 −8 −131 −145 −154 −89 −43 19 26 60
Capital spending 33 88 39 31 11 3 3 12 26 10
Free cash flow −37 −96 −170 −176 −165 −92 −45 6 0 50
Stock-based pay 2 8 12 15 10 15 9 9 7 6
Free cash flow after stock pay −39 −104 −181 −192 −175 −108 −54 −2 −7 43
Balance sheet
Cash 7 24 1,200 1,078 887 765 669 859 792 467
Total debt 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −7 −24 −1,200 −1,078 −887 −765 −669 −859 −792 −467
Diluted shares 354m 345m 343m 352m 370m 377m 381m 386m 383m 380m
Returned to shareholders
Buybacks — — — — — — 0 0 10 39
Total returned — — — — — — 0 0 10 39

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $1.2bn
Short-term assets $912mLonger-term assets $268m
What it owes, and who funded it · $1.1bn
Short-term liabilities $56mLonger-term liabilities $6mShareholders' equity $1.1bn
  • Short-term assets cover short-term liabilities $912m of assets due within a year against $56m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $912m short-term assets against $6m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Cronos Group Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$39M
Returned to shareholders
78%
of free cash flow
Buybacks, last 3 fiscal years
$9.7M
Diluted share count
−2.1%
year over year
Total shareholder yield
3.2%
dividends 0.0% + buybacks 3.2% of market value
R&D spending
3.0%
of revenue
Days sales outstanding
75 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in pharmaceuticals
Last 12 months unless stated CRON KMDA AMRN BTMD OGI HRTX Median
Revenue, last 12 months $179m $180m $176m $184m $185m $151m $276m
Revenue growth, last 12 months 37.5% 12.1% −22.3% −7.8% 57.8% 1.0% 9.9%
Revenue growth, 3-year average 30.3% — −18.3% 0.5% — 8.6% 5.5%
Revenue growth, latest quarter 58.4% — −20.4% −9.5% — 1.3% 6.5%
Gross margin 45.9% 42.3% 40.9% — 34.8% 70.1% 62.0%
Operating margin −1.4% 14.5% −18.2% 8.0% −5.9% −7.2% −5.9%
Operating margin, 3-year average −38.9% 7.0% −26.3% 13.9% — −13.5% −7.4%
Net margin 39.1% 11.2% −10.9% 3.2% −9.6% −22.5% −7.3%
Cash from operations / revenue 33.5% 14.1% 21.3% 13.3% −2.9% −7.7% 10.2%
Free-cash-flow margin 27.8% 13.2% 21.3% 10.8% −9.5% −8.0% 8.6%
Free-cash-flow margin, 3-year average 11.1% 1.7% 1.3% 13.2% — −47.0% 7.4%
Stock pay / revenue 3.6% 0.5% 4.2% 4.5% 1.6% 7.4% 3.6%
Change in share count −2.1% 0.9% 1.5% 3.3% 34.0% 5.9% 1.9%

Median of all 75 companies we cover in pharmaceuticals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 pharmaceuticals companies
Measure Company Peer median Rank
Revenue growth Growth 37.5% 10.0% 13 of 74
Change in growth rate Growth +9.4pp -0.3pp 8 of 74
Gross margin Profitability 45.9% 59.8% 39 of 59
Operating margin Profitability -1.4% -5.9% 30 of 67
Net margin Profitability 39.1% -7.3% 3 of 75
Free-cash-flow margin Cash generation 27.8% 10.1% 8 of 74
Stock pay as % of revenue Cash generation 3.6% 3.6% 35 of 69
Change in share count Balance sheet -2.1% 1.5% 10 of 62
Days sales outstanding Balance sheet 75 days 72 days 33 of 59

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Cannabis Flower $108M ▲ 23.4%
Cannabis Extracts $37.7M ▲ 29.3%
Other $411,000 ▼ 23.2%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue YoY
Canada $90.3M ▲ 9.6%
Israel $41.8M ▲ 47.3%
Other Countries $14.5M ▲ 112.3%

These categories overlap or exclude eliminations, so shares aren't shown.

From Cronos Group Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$134M
Institutions reporting
193
Shares held vs prior quarter
▼ 2.9%
Positions opened / closed
21 / 19

Top buyers and sellers, Q2 2026: 63 institutions bought and 61 sold ; the biggest buyer was Arrowstreet Capital, Limited Partnership (+2.0M shares) and the biggest seller Pillsbury Lake Capital LLC (−3.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
D. E. Shaw & Co., Inc. $24.6M 8.8M 18.4% ▲ 16.0%
Chescapmanager LLC $22.1M 7.9M 16.5% 0.0%
Tidal Investments LLC $10.5M 3.8M 7.8% ▼ 6.4%
Dimensional Fund Advisors LP $8.5M 3.0M 6.3% ▲ 13.8%
Mackenzie Financial Corp $6.3M 1.6M 4.7% New
Arrowstreet Capital, Limited Partnership $5.5M 2.0M 4.1% New
Renaissance Technologies LLC $4.8M 1.7M 3.6% ▼ 13.3%
CIBC World Market Inc. $3.8M 1.4M 2.9% ▲ 2.7%
Mmcap International Inc. Spc $2.8M 999K 2.1% 0.0%
Quinn Opportunity Partners LLC $2.7M 969K 2.0% 0.0%
Citadel Advisors LLC $2.6M 951K 2.0% ▲ 160.8%
Pillsbury Lake Capital LLC $2.3M 810K 1.7% ▼ 80.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Cronos Group Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Cronos Group Inc. disclosed in the last 12 months; 2 earlier trades on record.

  • John A. Yarmuth(D-KY 3):Purchase, $1,001 - $15,000, traded February 12, 2021, filed February 19, 2021
  • John A. Yarmuth(D-KY 3):Purchase, $1,001 - $15,000, traded November 5, 2020, filed November 15, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 11, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Cronos Group Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Cronos Group Inc. in brief

What does Cronos Group Inc. do?
Cronos Group Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.
What is Cronos Group Inc.'s stock ticker?
Cronos Group Inc. trades under the ticker CRON on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Cronos Group Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Cronos Group Inc. reported revenue of $179M, 37.5% higher than a year earlier, according to its SEC filings.
What is Cronos Group Inc.'s free cash flow?
Cronos Group Inc.'s free-cash-flow margin is 27.8% of revenue over the trailing twelve months, ranking 8 of the 74 pharmaceuticals companies we cover.
What is Cronos Group Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Cronos Group Inc.'s free cash flow after stock-based pay gives ~$3.9 per share in the base case, and ~$3.5–$4.5 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Cronos Group Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are D. E. Shaw & Co., Inc., Chescapmanager LLC and Tidal Investments LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Cronos Group Inc. buying back stock, and does it pay a dividend?
Cronos Group Inc. spent $39M on share repurchases over the trailing twelve months, and its diluted share count fell 2.1% over the year.
What is Cronos Group Inc.'s market cap?
On November 2, 2026, Cronos Group Inc.'s market capitalisation was about $1.3B, with a price-to-earnings ratio of 18.1 and net debt of -$467M. Market figures come from third-party market data and may be delayed.
Who are Cronos Group Inc.'s competitors?
In our Pharmaceuticals peer group, the companies closest to Cronos Group Inc. are Kamada LTD, Amarin Corp plc\uk, Biote Corp., Organigram Global Inc. and Heron Therapeutics, Inc. The side-by-side comparison below sets their revenue, margins and growth against Cronos Group Inc.'s.
When is Cronos Group Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Cronos Group Inc. announces its own schedule.