Organigram Global

OGI

Drug Manufacturers - Specialty & Generic · Healthcare

Also trades as: OGI.TO

Price

$1.25

+0.05 (+4.17%)

Market Cap

$176.0M

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Strong

Cash Flow

Weak

Stability

Good

Valuation

Good

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Share count rising — dilution

+99.4% over 4y

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

Diluted shares outstanding: 64.0M (2021) → 127.7M (2025)

Winston Score History

The full picture

Organigram Global Inc. is a Canadian cannabis company that grows, produces, and sells marijuana and cannabis-related products. Its main products include dried flower, pre-rolls, edibles, and vapes sold to adult consumers in Canada through licensed retailers. The company also sells internationally to select markets and is one of the larger licensed cannabis producers in Canada.

Organigram makes money by selling cannabis products wholesale to provincial distributors and retailers across Canada, with a small portion coming from international exports. The company operates primarily out of its main production facility in Moncton, New Brunswick. Its competitive position depends on scale, product innovation, and brand recognition in a crowded market — but the negative gross margin shows it is currently spending more to produce cannabis than it earns from selling it. The biggest challenge ahead is reaching profitability as cannabis prices in Canada remain under pressure and competition from both legal and illegal sources stays intense.

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

+49.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$11M/ year

→ Flat (-2% vs prior year)

5.9% of revenue

Below sector average (18%)

Steady R&D investment year-over-year

Insider Activity

33.4%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~7 months

C$12M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Organigram Global grew revenue 49% 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

39.2%

Modest — 39.2% gross margin

Profit after running costs

Operating Margin

5.0%

Thin — 5.0% operating margin

Return on the money invested

ROCE

-1.2%

Weak — -1.2% 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

+38.1%

Fast-growing sales (+38.1% YoY)

Profit growth

EPS YoY

>+1,000%

Earnings growing fast (>+1,000% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

-33%

Weak — only -33% of profit becomes cash

Spare cash per sale

FCF Margin

-10.4%

Burning cash (-10.4%)

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

0.04

Conservative — low debt load (0.04)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

1.9x

Attractive valuation — P/E 1.9

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-14.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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