High Tide Inc.
HITI Healthcare Pharmaceutical Retailers
High Tide Inc.’s revenue for fiscal 2025 (year ended October 2025) was $424.0 million, up 10.5% from fiscal 2024. In the quarter to July 2026, revenue grew 30.7%, EPS grew 800.0%, free cash flow fell 7.91% and total debt rose 54.7%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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High Tide Inc. (HITI) Piotroski F-score
High Tide Inc.'s Piotroski F-score for fiscal 2025 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, down from 6 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 2 | (4.00) |
| FY2024 | 6 | 0.00 |
| FY2023 | 6 | 2.00 |
| FY2022 | 4 | 0.00 |
| FY2021 | 4 | (2.00) |
| FY2020 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (16.85%) | (1.80%) | Fail | 0 |
| Positive operating cash flow | 17.04m | 26.12m | Pass | 1 |
| Rising return on assets | (16.85%) | (1.80%) | Fail | 0 |
| Cash flow above net income | 53.27m | 29.30m | Pass | 1 |
| Falling long-term leverage | 0.27 | 0.16 | Fail | 0 |
| Rising current ratio | 1.37 | 1.40 | Fail | 0 |
| No new shares issued | 82,179,000 | 79,557,000 | Fail | 0 |
| Rising gross margin | 25.85% | 27.28% | Fail | 0 |
| Rising asset turnover | 1.97 | 2.17 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 2 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| SCNX Scienture Holdings, Inc. compare | 5 |
| MDVLQ MedAvail Holdings, Inc. compare | 4 |
| RDGT Ridgetech Inc. compare | 4 |
| BIMI BIMI Holdings Inc. compare | 4 |
| PETS PetMed Express, Inc. compare | 3 |
| HITI High Tide Inc. | 2 |
| POM Pomdoctor Limited - Sponsored ADR compare | — |
| MEDS DataMeds AI, Inc compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover