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Aurora Cannabis

ACB
11
Drug Manufacturers - Specialty & Generic · Healthcare
Also trades as: ACB.TO
Price
$3.94
+0.13 (+3.41%)
Market Cap
$244.1M
Exchange
NASDAQ
Winston Score
11
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Share count rising — dilution

+166.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 21.5M (2022) → 57.3M (2026)

Winston Score History

The full picture

Aurora Cannabis is a Canadian company that grows and sells cannabis products. Its main products include dried flower, oils, edibles, and vapes sold to medical patients and adult recreational consumers. Aurora operates primarily in Canada but also exports medical cannabis to countries in Europe, Australia, and other markets where medical use is legal.

Aurora makes money by selling cannabis products directly to consumers through provincial retailers and to medical patients through its own platform. With a market cap of around $0.2 billion, it is a mid-sized player in a crowded industry that has struggled with oversupply and falling prices since Canada legalized recreational cannabis in 2018. Aurora has built some competitive advantage in the medical cannabis segment, where it has established international distribution relationships, but the company still operates near breakeven with a slightly negative operating margin. The key risk is continued pricing pressure in the Canadian recreational market, while international medical cannabis growth remains the main potential driver.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-23.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-111.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

C$4M/ year

Rising (+9% vs prior year)

1.3% of revenue

Below sector average (18%)

R&D investment increasing — building for the future

Insider Activity

0.6%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~4 years

C$165M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

C$165M cash & investments at current burn rate

Revenue declining

Aurora Cannabis's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
-5.9%
Thin — -5.9% gross margin
Profit after running costs
Operating Margin
-70.2%
Losing money on operations — -70.2%
Return on the money invested
ROCE
-16.1%
Weak — -16.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-16.6%
Shrinking sales (-16.6% YoY)
Profit growth
EPS YoY
-494.6%
Earnings shrinking (-494.6% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-17.6%
Burning cash (-17.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.01
Conservative — low debt load (0.01)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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