Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data SNDL Inc. files with the SEC in its annual reports.
In CAD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
66.9
73.3
67.3
730
958
975
1,003
Cost of revenue
56.1
719
680
688
Gross profit
36.5
-49.9
-9
140
190
240
259
Research and development
0.41
2.41
0.49
2.45
2.45
0.32
0.35
0.49
Operating income
-12.9
-52.4
-185
-134
-348
-163
-104
-6.35
Interest expense
0.08
24.2
3.82
3.76
41.3
11.4
7.16
6.69
Pre-tax income
-13
-146
-206
-235
-380
-172
-106
-15.8
Income from continuing operations
-143
-206
-227
-372
-172
-96.2
Net income to minority interests
-0.17
-6.7
0.2
-37.3
-3.89
-1.41
0
Net income
-13
-271
-233
-227
-335
-173
-94.8
-15.8
EBITDA
-12.5
-51.8
-181
-129
-307
-103
-49.6
45.6
EPS, basic
-0.23
-3.17
-1.10
-1.46
-0.67
-0.36
-0.06
EPS, diluted
-0.23
-3.17
-1.10
-1.46
-0.67
-0.36
-0.06
Balance sheet
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
7.68
45.3
60.4
558
280
195
218
252
Short-term investments
0
3.07
6.55
3.4
27.6
0.48
Inventory
59.9
25.6
29.5
128
129
128
127
Total current assets
173
118
728
501
407
462
450
Property, plant and equipment
282
117
56.5
143
153
146
152
Lease right-of-use assets
6.72
134
130
115
138
Goodwill
11.4
72.5
67.3
119
124
124
Intangible assets
44
5.06
50.1
74.9
73.1
61.3
58.5
Total assets
510
295
1,428
1,559
1,473
1,349
1,336
Total current liabilities
269
24.1
65.9
89.4
103
90.6
92.2
Lease liabilities
16.2
1.03
27.8
140
136
118
134
Total liabilities
289
25.2
98.1
232
244
216
235
Total debt
7
178
Retained earnings
-360
-558
-785
-1,092
-1,261
-1,324
-1,302
Shareholders' equity
216
272
1,329
1,306
1,212
1,133
1,101
Minority interests
4.71
-1.98
0.23
21.2
17.3
0
Total equity
13.7
221
270
1,330
1,328
1,229
1,133
1,101
Total liabilities and equity
510
295
1,428
1,559
1,473
1,349
1,336
Cash flow statement
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-13
-272
-240
-227
-372
-177
-96.2
-15.8
Depreciation and amortization
0.41
0.6
4.71
5.29
40.9
60.2
54.3
51.9
Cash from operations
-5.25
-113
-57.5
-156
-6.71
-16.6
54.9
70.9
Capital expenditures
-7.59
-110
-3.02
-3.79
-10.7
-7.85
-8.62
-12.8
Cash from investing
-9.68
-213
-70.9
-496
-230
-24.8
17.8
17.5
Debt issued
82.7
Debt repaid
-32.9
-84.5
0
-10
0
Stock issued
9.57
177
182
1,062
0.02
0
Share buybacks
0
0
-13.4
-1.54
-13.2
-15.3
Cash from financing
18.9
358
143
1,150
-41.8
-43.1
-49.4
-54.5
Exchange rate effect
-1.17
0.67
-0.01
0
Net change in cash
3.96
31.2
15
498
-279
-84.5
23.3
33.9
Free cash flow
-12.8
-223
-60.5
-160
-17.4
-24.5
46.3
58.1
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.
Profitability
Metric
Value
How it is calculated
Gross margin
25.8%
Gross profit / revenue.
Operating margin
-0.6%
Operating income / revenue.
EBITDA margin
4.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-1.6%
Pre-tax income / revenue.
Net margin
-1.6%
Net income / revenue.
FCF margin
5.8%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
7.1%
Cash from operations / revenue.
Return on equity (ROE)
-1.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-1.2%
Net income / average total assets.
Return on invested capital (ROIC)
-0.6%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
0.0%
Research and development expense / revenue.
Capex / revenue
1.3%
Capital expenditures / revenue.
D&A / revenue
5.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
2.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
11.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
68.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
7.6%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
22.6%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y
29.1%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
25.5%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-2.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-5.5%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
32.3%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-1.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-5.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
35.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.88x
Current assets / current liabilities.
Quick ratio
2.74x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.74x
(Cash + short-term investments) / current liabilities.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-CA$0.06
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-CA$0.06
Net income per basic share, as reported (split-adjusted).
Buybacks / FCF
26.4%
Share buybacks / free cash flow, when free cash flow is positive.
What was SNDL Inc.'s revenue in fiscal 2025?
SNDL Inc. reported revenue of CA$1.00B for fiscal 2025, 2.8% higher than the year before.
Was SNDL Inc. profitable in fiscal 2025?
No. It reported a net loss of CA$15.8M.
How much free cash flow did SNDL Inc. generate in fiscal 2025?
Cash from operations of CA$70.9M minus capital expenditures of CA$12.8M left free cash flow of CA$58.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.