This stock no longer trades (delisted June 26, 2023)

Delisted / no longer publicly traded (per market data provider) Everything below is based on the last available data — treat it as historical, not a live read.

HEXO

HEXO.TO

Drug Manufacturers - Specialty & Generic · Healthcare

Exchange

Toronto Stock Exchange

Winston Score

Historical score — this stock no longer trades, so the score is frozen at the last available data.

Data as of Aug 23, 2026 · filings through Apr 30, 2023

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

Winston Score History

The full picture

HEXO Corp. is a Canadian cannabis company that grows, processes, and sells marijuana and cannabis-infused products. Its main products include dried flower, oils, edibles, and beverages, sold to adult recreational consumers and medical patients. HEXO operates primarily in Canada and has been one of the larger licensed cannabis producers in the country.

The company earns revenue by selling cannabis products through provincial government wholesalers and retail stores across Canada. HEXO has struggled significantly with profitability, as its deeply negative gross and operating margins show the company is spending far more than it earns. The legal cannabis industry in Canada has faced intense price competition, oversupply, and high operating costs, and HEXO has gone through major restructuring, debt problems, and asset sales in recent years — meaning the biggest risk the company faces is whether it can survive long enough to reach sustainable profitability.

Growth Profile

For growth stock investors

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

Revenue Growth

-52.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+42.9% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

13.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

C$34M cash & investments at current burn rate

Revenue declining

HEXO'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

-43.3%

Thin — -43.3% gross margin

Profit after running costs

Operating Margin

-559.3%

Losing money on operations — -559.3%

Return on the money invested

ROCE

-93.2%

Weak — -93.2% 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

-33.7%

Shrinking sales (-33.7% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-38.4%

Burning cash (-38.4%)

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

1.26

Elevated debt (1.26)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

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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