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Simply Solventless Concentrates

HASH.V
32
Drug Manufacturers - Specialty & Generic · Healthcare
Exchange
Toronto Stock Exchange Ventures
Winston Score
32
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Sep 30, 2025
How the score breaks down
Quality
Mixed
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Good

Winston Score History

The full picture

Simply Solventless Concentrates is a Canadian cannabis company that makes and sells high-potency cannabis extracts, specifically concentrates made without chemical solvents. Its main products include hash, rosin, and other solventless extracts sold to adult recreational consumers through licensed cannabis retailers, primarily in Alberta and other Canadian provinces. The company focuses on a niche but fast-growing segment of the legal cannabis market.

The company earns revenue by selling its products wholesale to provincial distributors and retail cannabis stores across Canada. It operates entirely within Canada's regulated cannabis framework and has built a focused competitive position by specializing in solventless techniques, which appeal to consumers who prefer cleaner extraction methods. With a gross margin near 46% and positive operating margins, the business is relatively efficient for its size, but it remains small and thinly traded. The key risk is its narrow product focus and dependence on Canadian market conditions, including pricing pressure from both the illicit market and larger licensed producers.

Growth Profile

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

Revenue Growth

+55.7% YoY

Strong revenue growth

EPS Growth

-85.7% YoY

Earnings declining

Insider Activity

16.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

C$899,509 cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

Simply Solventless Concentrates is growing revenue at 56% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

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

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Quality

Profit per sale
Gross Margin
45.7%
Healthy — 45.7% gross margin
Profit after running costs
Operating Margin
0.6%
Thin — 0.6% operating margin
Return on the money invested
ROCE
-2.9%
Weak — -2.9% 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
N/A
Data not available
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
0/1 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
-45%
Weak — only -45% of profit becomes cash
Spare cash per sale
FCF Margin
-6.4%
Burning cash (-6.4%)

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
0.28
Conservative — low debt load (0.28)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
0.6x
no trend
Attractive valuation — P/E 0.6

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

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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