Invesaro

Stocks Comparison

Ascend Wellness vs Curaleaf: revenue, profit, margins and growth compared

Ascend Wellness brought in $500.6M of revenue in fiscal 2025, Curaleaf $1.3B in fiscal 2025. Revenue changed by -10.9% at Ascend Wellness and -5.0% at Curaleaf on the year before, so Curaleaf grew faster. Ascend Wellness kept -23.6% of its revenue as net profit, Curaleaf -18.2%. Free cash flow was $12M at Ascend Wellness and $74.3M at Curaleaf.

Side by side, latest fiscal year

AAWHCURLF
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$500.6M$1.3B
Revenue growth-10.9%-5.0%
Net income-$118.2M-$231.1M
Net margin-23.6%-18.2%
Free cash flow$12M$74.3M
Free cash flow margin2.4%5.9%
Earnings per share (diluted)-$0.58-$0.35
Cash$85.7M$89.2M
Debt$319.5M$548.7M
Price to earningsn/an/a
Market value$116Mn/a
Dividend yieldn/an/a
Rank by revenue in sector#206 of 742 · Health care#141 of 742 · Health care

Over the years

Revenue
AAWH FY2019: $12MAAWH FY2021: $143.7MAAWH FY2021: $332.4MAAWH FY2022: $405.9MAAWH FY2023: $518.6MAAWH FY2024: $561.6MAAWH FY2025: $500.6MCURLF FY2020: $221MCURLF FY2020: $626.6MCURLF FY2021: $1.2BCURLF FY2022: $1.3BCURLF FY2023: $1.3BCURLF FY2024: $1.3BCURLF FY2025: $1.3BFY19FY20FY21FY22FY23FY24FY25
AAWH $500.6MCURLF $1.3B
Net income
AAWH FY2019: -$31.9MAAWH FY2021: -$25.4MAAWH FY2021: -$122.7MAAWH FY2022: -$80.9MAAWH FY2023: -$48.2MAAWH FY2024: -$85MAAWH FY2025: -$118.2MCURLF FY2020: -$67.2MCURLF FY2020: -$57.2MCURLF FY2021: -$205.9MCURLF FY2022: -$370.1MCURLF FY2023: -$281.2MCURLF FY2024: -$215.4MCURLF FY2025: -$231.1MFY19FY20FY21FY22FY23FY24FY25
AAWH -$118.2MCURLF -$231.1M
Net margin
AAWH FY2019: -265.1%AAWH FY2021: -17.7%AAWH FY2021: -36.9%AAWH FY2022: -19.9%AAWH FY2023: -9.3%AAWH FY2024: -15.1%AAWH FY2025: -23.6%CURLF FY2020: -30.4%CURLF FY2020: -9.1%CURLF FY2021: -17.2%CURLF FY2022: -29.0%CURLF FY2023: -20.9%CURLF FY2024: -16.1%CURLF FY2025: -18.2%FY19FY20FY21FY22FY23FY24FY25
AAWH -23.6%CURLF -18.2%
Revenue growth
AAWH FY2021: +1,094.6%AAWH FY2021: +131.3%AAWH FY2022: +22.1%AAWH FY2023: +27.8%AAWH FY2024: +8.3%AAWH FY2025: -10.9%CURLF FY2020: +183.5%CURLF FY2021: +90.9%CURLF FY2022: +6.6%CURLF FY2023: +5.6%CURLF FY2024: -0.9%CURLF FY2025: -5.0%FY20FY21FY22FY23FY24FY25
AAWH -10.9%CURLF -5.0%
Free cash flow
AAWH FY2019: -$82.6MAAWH FY2021: -$32.4MAAWH FY2021: -$130.2MAAWH FY2022: -$120MAAWH FY2023: $51.1MAAWH FY2024: $50.8MAAWH FY2025: $12MCURLF FY2020: -$120.4MCURLF FY2020: -$113.9MCURLF FY2021: -$230.2MCURLF FY2022: -$88.2MCURLF FY2023: $9.8MCURLF FY2024: $71.2MCURLF FY2025: $74.3MFY19FY20FY21FY22FY23FY24FY25
AAWH $12MCURLF $74.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Ascend Wellness and Curaleaf

Which is bigger by revenue, Ascend Wellness or Curaleaf?

Curaleaf is bigger by revenue: $1.3B in fiscal 2025, against $500.6M for Ascend Wellness in fiscal 2025.

Which keeps more of its revenue as profit, Ascend Wellness or Curaleaf?

Ascend Wellness had a net margin of -23.6% in fiscal 2025; Curaleaf had -18.2% in fiscal 2025.

Which grew revenue faster, Ascend Wellness or Curaleaf?

In their latest fiscal years revenue changed by -10.9% at Ascend Wellness and -5.0% at Curaleaf.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

More comparisons

Compare more companies