SNDL

Agricultural Farm Products · Consumer Defensive

Price

$1.37

+0.04 (+3.01%)

Market Cap

$356.6M

Exchange

NASDAQ

Winston Score

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

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

Track this stock — start free trial

Share count rising — dilution

+38.7% over 4y

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

Diluted shares outstanding: 186.0M (2021) → 258.1M (2025)

Winston Score History

The full picture

SNDL Inc. is a Canadian company that grows, packages, and sells cannabis products to adult consumers. It also owns and operates a large network of retail liquor and cannabis stores across Canada, making it one of the country's largest private liquor retailers. The company sells under several brand names and serves everyday shoppers looking for recreational cannabis and alcohol.

SNDL makes money through retail store sales and by selling cannabis products wholesale to other retailers and provincial distributors. It operates entirely in Canada, with hundreds of retail locations under banners like Liquor Depot and Value Buds. The company has struggled to turn a consistent profit — its operating margin is slightly negative — which reflects the tough economics of the Canadian cannabis industry, including heavy regulation, high taxes, and intense competition from both licensed producers and the illegal market. The key challenge going forward is achieving sustainable profitability before its cash reserves run thin.

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

-3.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-370.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

C$489,000/ year

↑ Rising (+41% vs prior year)

0.1% of revenue

Below sector average (2%)

R&D investment increasing — building for the future

Insider Activity

17.7%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

C$612M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

SNDL'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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

23.9%

Thin — 23.9% gross margin

Profit after running costs

Operating Margin

-2.3%

Losing money on operations — -2.3%

Return on the money invested

ROCE

-1.5%

Weak — -1.5% return on capital

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

-1.7%

Shrinking sales (-1.7% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

5.5%

Thin free cash flow (5.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial