IM Cannabis Corp. key statistics and ratios

In fiscal 2025, IM Cannabis Corp. had an operating margin of -21.2% and a current ratio of 0.67. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

IM Cannabis Corp.: financial ratios, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	43.3%	65.9%	18.6%	16.9%	20.2%	15.6%	17.7%
Operating margin	−113.2%	−51.9%	−67.6%	−56.7%	−26.2%	−18.9%	−21.2%
Net margin	−80.4%	−180.6%	−52.2%	−347.6%	−19.5%	−19.6%	−20.7%
Free-cash-flow margin	−82.7%	−66.3%	−114.4%	−26.1%	−17.7%	−2.3%	8.6%
Return on equity	−28.9%	−154.4%	−17.1%	−166.8%	−50.8%	−105.9%	—
Return on assets	−23.1%	−79.7%	−11.1%	−107.7%	−17.2%	−24.1%	−32.2%
Asset turnover	0.29	0.44	0.21	0.31	0.88	1.23	1.56
Current ratio	9.31	4.33	1.58	0.97	0.74	0.67	0.67
Debt to equity	0.0%	0.0%	6.3%	42.6%	89.2%	306.6%	—
Interest cover (operating income ÷ interest)	—	—	—	n/m	n/m	n/m	n/m
R&D as % of revenue	2.6%	0.9%	—	—	—	—	—
Capital spending as % of revenue	17.0%	16.5%	13.4%	2.9%	1.2%	0.3%	0.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 5 checks passed · December 31, 2025

What it owns · $23m

Short-term assets $17mLonger-term assets $7m

What it owes, and who funded it · $26m

Short-term liabilities $25mLonger-term liabilities $1mShareholders' equity $-3m

Short-term assets cover short-term liabilities $17m of assets due within a year against $25m of liabilities due within a year.
Short-term assets cover long-term liabilities $17m short-term assets against $980,893 of longer-dated liabilities.
More cash than debt $2m of cash against $12m of debt.
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 $3m of operating cash flow against $12m of debt.
Operating profit covers interest at least five times over Operating income of −$8m against $29,353 of interest.

From IM Cannabis Corp.'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.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

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

Compare with peers

Head to head: CPIX vs IMCC BGM vs IMCC IMCC vs SBFM BFRI vs IMCC

More: Pharmaceuticals stocks compared, Health Care sector, rankings of US companies

Figures from IM Cannabis Corp.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to IM Cannabis Corp.