Sndl Inc. cash flow statement

In fiscal 2025, Sndl Inc.'s operations generated $50.8m of cash; it spent $9.2m on capital projects, leaving free cash flow of $41.6m. It returned $11.0m through buybacks.

Cash flow statement

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

Sndl Inc.: cash flow statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−85	−43	−124	−5	−12	40	51
Depreciation and amortisation	0	4	4	31	45	40	37
Stock-based pay	29	6	10	7	11	15	10
Capital spending	83	2	3	8	6	6	9
Free cash flow	−168	−45	−127	−13	−18	34	42
Free cash flow after stock pay	−197	−52	−137	−21	−30	19	32
Share buybacks	—	0	0	10	1	10	11

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Sndl Inc.'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 Sndl Inc.