Mercanto Holdings

MUSH.V

Beverages - Non-Alcoholic · Consumer Defensive

Price

C$0.12

+0.01 (+9.09%)

Market Cap

C$6.2M

Exchange

Toronto Stock Exchange Ventures

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Sep 2, 2026 · filings through Apr 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Exceptional

Valuation

Data not available

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Share count rising — dilution

+30.8% over 4y

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

Diluted shares outstanding: 39.2M (2021) → 51.2M (2025)

Winston Score History

The full picture

Mercanto Holdings Inc. specializes in the creation, production, and distribution of convenient wellness drinks. Its product range thoughtfully incorporates ingredients such as traditional cannabis, beneficial probiotics, and specialized functional mushrooms. The company's brand portfolio features Velada, Nordique Royale, and Teonan. Established on August 11, 2011, Mercanto Holdings Inc. maintains its principal office in Kirkland, Canada.

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

+44.1% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+235.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Cash Runway

~5 months

C$542,380 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Mercanto Holdings grew revenue 44% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

37.1%

Modest — 37.1% gross margin

Profit after running costs

Operating Margin

14.9%

Healthy — 14.9% operating margin

Return on the money invested

ROCE

7.6%

Weak — 7.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+52.9%

Fast-growing sales (+52.9% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 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

10.2%

Modest free cash flow (10.2%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.03

Conservative — low debt load (0.03)

Covers its interest

Interest Cover

10.01x

Comfortably covers interest (10.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/A

Data not available

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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