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Friday 6 November 2026
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SNDL Inc.
SNDL Consumer Defensive Beverages Wineries & Distilleries
SNDL Inc.’s revenue for fiscal 2025 (year ended December 2025) was $677.3 million, up 0.83% from fiscal 2024.
- Revenue
- −4.05%
- EPS
- −267.5%
- Free cash flow
- −33.9%
- Total debt
- +3.91%
Quarter to September 2026, against a year earlier
1.37
0.04
−2.84%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | 57 | 45 | 45 | 548 | 673 | 672 | 677 | 664 | +51.0% | 652 | 582 | 604 | (3.8%) | |
| Gross margin, % | — | 0.00 | 0.00 | 52.40 | (38.74) | (29.23) | 19.71 | 20.95 | 26.11 | 27.33 | 25.74 | +27.3 pt | ||||||
| EBT | — | (1) | (52) | (208) | (154) | (185) | (292) | (127) | (77) | (11) | (45) | +32.6% | ||||||
| EBT margin, % | — | 0.00 | 0.00 | (364.16) | (338.68) | (414.15) | (53.32) | (18.92) | (11.47) | (1.67) | (6.77) | (1.7) pt | ||||||
| Net income | — | 0 | 0 | (205) | (154) | (184) | (286) | (131) | (70) | (11) | (42) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | 0.00 | 0.00 | 6.67 | 2.08 | 0.24 | 2.38 | 2.60 | 2.54 | 2.62 | 2.69 | n/m | |||||
| Earnings | — | (0.14) | (6.24) | (23.87) | (8.20) | (1.00) | (1.12) | (0.48) | (0.26) | (0.04) | (0.17) | (14.5%) | ||||||
| Cash flow | — | (0.13) | (2.34) | (9.91) | (1.96) | (0.67) | (0.02) | (0.05) | 0.15 | 0.20 | 0.15 | n/m | ||||||
| Capex | — | 0.00 | 0.00 | (12.13) | (0.04) | (0.02) | (0.02) | (0.02) | (0.03) | (0.03) | (0.02) | n/m | ||||||
| Free cash flow | — | (0.13) | (2.34) | (22.04) | (2.00) | (0.68) | (0.05) | (0.07) | 0.12 | 0.16 | 0.13 | n/m | ||||||
| Book value | — | 1.07 | (0.72) | 19.44 | 9.21 | 5.69 | 4.44 | 3.51 | 3.13 | 3.05 | 2.91 | +14.0% | ||||||
| Shares, m | — | 8 | 8 | 9 | 22 | 186 | 230 | 259 | 264 | 258 | 256 | +53.5% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | 4.51 | 2.28 | 24.01 | 0.87 | 0.61 | 0.70 | 0.63 | 0.51 | 4.8 | ||||||
| P/B | — | — | — | 1.55 | 0.51 | 1.02 | 0.47 | 0.45 | 0.57 | 0.54 | 0.47 | 0.7 | ||||||
| EV/Sales | — | — | — | 6.27 | 2.39 | 13.65 | 0.70 | 0.59 | 0.62 | 0.56 | 0.57 | 3.5 | ||||||
| EV/FCF | — | — | — | (1.90) | (2.49) | (4.82) | (36.58) | (23.12) | 12.79 | 9.42 | 12.81 | (6.7) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | (1) | (20) | (85) | (43) | (124) | (5) | (12) | 40 | 51 | 36 | n/m | |||||
| Capex | — | (4) | (59) | (104) | (1) | (3) | (5) | (5) | (8) | (9) | (5) | +11.3% | ||||||
| Free cash flow | — | (1) | (20) | (189) | (44) | (127) | (10) | (17) | 33 | 42 | 31 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | 2 | (35) | (73) | 70 | 528 | 317 | 225 | 271 | 256 | 173 | +83.4% | |||||
| Net debt | — | (3) | 61 | 100 | (48) | (517) | (147) | (63) | (110) | (101) | (12) | +55.2% | ||||||
| Shareholders’ equity | — | 9 | (6) | 167 | 201 | 1,058 | 1,021 | 911 | 827 | 788 | 720 | +74.9% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | (2.61) | 0.00 | (106.45) | (59.20) | (27.10) | (22.07) | (11.17) | (6.66) | (1.16) | (4.66) | +1.5 pt | |||||
| ROIC | — | 0.00 | 0.00 | (10.40) | (1.99) | (12.25) | (14.12) | (9.57) | (3.44) | (0.68) | (4.08) | (0.7) pt | ||||||
| ROE | — | (81.05) | (3,488.86) | (254.61) | (97.24) | (29.19) | (24.79) | (13.24) | (7.96) | (1.40) | (5.62) | +79.7 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | 937 | 1,064 | 394 | 580 | 2,607 | 2,516 | 2,516 | 2,751 | — | +16.6% | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.05 | 0.12 | 0.08 | 0.21 | 0.27 | 0.27 | 0.25 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026
SNDL Inc. vs peers in Beverages Wineries & Distilleries (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| BF.A Brown Forman Corporation | $14.4B | 20.5× | — | −1.41% (below 0%: shrinking) | +5.56% (above 0%: growing) | −0.62% (below 0%: shrinking) | 60.26% | 27.66% | Compare |
| BF.B Brown-Forman Corporation | $14.3B | 20.0× | 17.0× | −1.41% (below 0%: shrinking) | +5.56% (above 0%: growing) | −0.62% (below 0%: shrinking) | 60.26% | 27.66% | Compare |
| AGCC Agencia Comercial Spirits Ltd | $815.8M | — | — | — | — | — | — | — | Compare |
| CASK MGP Ingredients, Inc. | $375.4M | — (loss-making) | — (loss-making) | −9.93% (below 0%: shrinking) | −54.79% (below 0%: shrinking) | −1.31% (below 0%: shrinking) | 34.31% | 10.19% | Compare |
| SNDL SNDL Inc. | $335.8M | — (loss-making) | — (loss-making) | −4.05% (below 0%: shrinking) | n/m | −33.85% (below 0%: shrinking) | 24.32% | (23.61%) | |
| WVVI Willamette Valley Vineyards, Inc. | $8.6M | — (loss-making) | — (loss-making) | −1.56% (below 0%: shrinking) | n/m | +54.68% (above 0%: growing) | 57.53% | (13.49%) | Compare |
| IBG Innovation Beverage Group Limited | $3.2M | — | — | — | n/m | — | 70.21% | (49.22%) | Compare |
| AMSS AMASS Brands, Inc. | $2.6M | — (loss-making) | — (loss-making) | — | n/m | — | 26.74% | (106.53%) | Compare |
| YHC LQR House Inc. | $2.1M | — (loss-making) | — (loss-making) | −30.59% (below 0%: shrinking) | n/m | +5.45% (above 0%: growing) | 13.27% | (351.79%) | Compare |
| Median of peers | $192.0M | — | — | −1.56% | +5.56% | −0.62% | 57.53% | (13.49%) |