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MARKETS / NASDAQ / SNDL
NASDAQ · MEDICINAL CHEMICALS & BOTANICAL PRODUCTS · LARGE CAP

Sndl Inc. SNDL

8 fiscal years on record · CAD · FY2025 reported · SEC filings only
CAD 946.4M
▲ 2.8% YoY
CAD -15.8M
CAD 58.1M
▲ 25.5% YoY
In brief

What this company does

The company's principal activities are the retailing of wines, beers and spirits under the Wine and Beyond, Ace Liquor and Liquor Depot retail banners, the operation and support of corporate owned, controlled and franchised retail cannabis stores under the Value Buds and Spiritleaf retail banners, the manufacturing, production, distribution and sale of cannabis in Canada and for export under an owned and licensed cannabis brand portfolio, and the provision of financial services through the deployment of capital to direct and indirect investments and partnerships throughout the cannabis industry. As of December 31, 2025, the company and its subsidiaries collectively employed 2,751 employees. Its reportable segments are organized by business line and comprised of four reportable segments: liquor retail, cannabis retail, cannabis operations, and investments. In the liquor retail segment, its revenue from liquor sales to retail customers was $539.6 million for the year ended December 31, 2025 and $555.3 million for the year ended December 31, 2024. In the cannabis retail segment, its revenue from cannabis sales to retail customers was $308.7 million for the year ended December 31, 2025 and $290.4 million for the year ended December 31, 2024. In the cannabis operations segment, SNDL is headquartered in Edmonton, Alberta, with cannabis processing operations in Kelowna, British Columbia, Bolton, Ontario, London, Ontario and Atholville, New Brunswick. In the investments segment, SunStream is a joint venture in which the company holds a 50% ownership interest and provides growth capital pursuing indirect investment and financial services opportunities in the global cannabis sector.

Written from the business description in SNDL Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth
CAD 946.4M
Revenue, FY2025 · full 8-year series below
Revenue CAD M Net income CAD M
FY2025 · Revenue 946.4 · Net income -15.8
400M800M-200M20172019202020212022202320242025
Compound annual growth
+9.9%
+73.1%
+13.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +73.1% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−2 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -0.7% · Net -1.7%
-200%-400%20172019202020212022202320242025
ROE
FY2025 · ROE -1.4%
-100%-200%20172019202020212022202320242025

Each CAD of equity lost 1 cents this year.

Cash & shareholders
CAD 15.3M
returned in FY2025 · dividends + net buybacks
Free cash flow CAD M
FY2025 · FCF 58.1
20M40M-80M-160M20172019202020212022202320242025
Net buybacks CAD M Dividends CAD M
FY2025 · Dividends — · Net buybacks 15.3
-400M-800M202020212022202320242025

CAD 15.3M in buybacks went back to shareholders in a year without profit.

Total assetsCAD 1.3B
EquityCAD 1.1B
CashCAD 252.2M
Current ratio4.88×

Equity funds 82% of total assets.

The 8-year record
8 fiscal years
Every figure from documents filed with the SEC · CAD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192017
Revenue CAD B0.90.90.90.70.10.10.1·
Operating income CAD B−0.0−0.1−0.2−0.3−0.1−0.2−0.1−0.0
EBITDA CAD B0.0−0.0−0.1−0.3−0.1−0.2−0.1−0.0
Income tax CAD B········
Net income CAD B−0.0−0.1−0.2−0.3−0.2−0.2−0.3−0.0
Free cash flow CAD B0.10.0−0.0−0.0−0.2−0.1−0.2−0.0
EPS, diluted CAD −0.06−0.36−0.67−1.46····
Dividend / sh CAD ········
Payout %········
ROE %−1.4−8.1−13.7−25.4−28.4−95.6−260.3·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

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This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 32 reconciliationsAUDITED

Reconciled in 9 of 19 fiscal years. 62 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityMedicinal Chemicals & Botanical Products
Listed onNASDAQ
Incorporated inoutside the United States — SEC code A0
Fiscal year endsDecember 31
Data on record since2017

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