Sndl Inc. key statistics and ratios

In fiscal 2025, Sndl Inc. had return on equity of -1.4%, an operating margin of -0.7%, debt equal to 0.0% of equity and a current ratio of 4.88. 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.

Sndl Inc.: financial ratios, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	57.4%	−81.9%	−16.0%	19.7%	20.9%	26.1%	27.3%
Operating margin	−82.4%	−304.4%	−239.4%	−48.8%	−18.0%	−11.3%	−0.7%
Net margin	−427.1%	−382.9%	−404.4%	−47.1%	−19.0%	−10.3%	−1.7%
Free-cash-flow margin	−350.8%	−99.3%	−284.3%	−2.4%	−2.7%	5.0%	6.1%
Return on equity	−122.5%	−91.5%	−28.9%	−25.7%	−13.6%	−8.1%	−1.4%
Return on assets	−52.0%	−55.7%	−26.9%	−22.7%	−11.3%	−6.7%	−1.2%
Asset turnover	0.12	0.15	0.07	0.48	0.59	0.65	0.71
Current ratio	0.64	4.90	11.06	5.61	3.94	5.10	4.88
Debt to equity	82.2%	—	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m	n/m	n/m
R&D as % of revenue	3.8%	0.8%	4.4%	0.3%	0.0%	0.0%	0.1%
Capital spending as % of revenue	173.5%	5.0%	6.8%	1.5%	0.9%	0.9%	1.4%
Dividends and buybacks ÷ free cash flow	—	—	—	—	—	28.6%	26.4%

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 3 checks passed · December 31, 2025

What it owns · $974m

Short-term assets $328mLonger-term assets $646m

What it owes, and who funded it · $974m

Short-term liabilities $67mLonger-term liabilities $104mShareholders' equity $803m

Short-term assets cover short-term liabilities $328m of assets due within a year against $67m of liabilities due within a year.
Short-term assets cover long-term liabilities $328m short-term assets against $104m 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 Operating income of −$5m against $5m of interest.

From Sndl 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.

Moat

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

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

Compare with peers

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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.