CBSTF · Cannabist Co Holdings Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $79.91M | $86.35M | $87.44M | - | $114.78M | $125.19M | $122.61M | - | $129.18M | $129.24M |
| Cost of Revenue | $57.00M | $77.14M | $80.07M | - | $70.97M | - | - | - | - | - |
| Gross Profit | $22.91M | $17.15M | $29.29M | - | $43.81M | $48.05M | $42.54M | - | $37.14M | $52.12M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $34.94M | $32.99M | $37.25M | - | $49.31M | $40.05M | $53.27M | - | $56.47M | $52.07M |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $4.45M | $4.44M | $8.65M | - | $6.01M | $6.68M | $13.96M | - | $9.72M | $8.46M |
| Operating Income | ($12.03M) | ($15.84M) | ($8.16M) | - | ($5.63M) | $8.01M | ($10.74M) | - | ($19.33M) | $49.0K |
| Interest Expense | $8.29M | $14.69M | $9.15M | - | $9.74M | $9.72M | $9.03M | - | $13.47M | $12.73M |
| Income Tax | $6.33M | $43.22M | $794.0K | - | $21.84M | $9.64M | $8.87M | - | $2.30M | $6.30M |
| Net Income | ($14.26M) | ($14.34M) | ($35.07M) | - | ($1.86M) | ($14.34M) | ($35.07M) | - | ($36.73M) | ($28.86M) |
| EPS - Basic | ($0.03) | ($0.16) | ($0.07) | - | ($0.00) | ($0.03) | ($0.08) | - | ($0.09) | ($0.07) |
| EPS - Diluted | ($0.03) | ($0.16) | ($0.07) | - | ($0.00) | ($0.03) | ($0.08) | - | ($0.09) | ($0.07) |
Balance Sheet
| Line item | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $20.90M | $15.46M | $18.94M | $33.61M | $31.50M | $22.33M | $44.47M | $35.76M | $60.27M | $37.00M |
| Accounts Receivable | $15.43M | $19.21M | $18.69M | $21.69M | $15.37M | $13.51M | $10.22M | $15.60M | $24.99M | $14.29M |
| Inventory | $66.83M | $70.91M | $90.69M | $94.52M | $89.72M | $116.13M | $111.50M | $111.63M | $118.15M | $131.34M |
| Accounts Payable | $24.26M | $28.84M | $28.83M | $41.13M | $26.04M | $33.55M | $36.58M | $29.80M | $41.49M | $34.95M |
| Current Assets | $144.73M | $168.16M | $186.52M | $195.00M | $234.97M | $167.26M | $189.89M | $187.53M | $230.83M | $248.56M |
| Total Assets | $536.51M | $563.84M | $648.78M | $696.17M | $770.70M | $777.12M | $812.83M | $823.11M | $948.39M | $951.99M |
| Current Liabilities | $162.13M | $179.01M | $227.88M | $228.71M | $255.53M | $209.84M | $165.98M | $160.04M | $197.27M | $227.47M |
| Long-term Debt | $298.66M | $297.70M | $248.46M | $249.51M | $248.56M | $247.46M | $304.64M | $297.48M | $294.40M | $279.63M |
| Total Liabilities | $689.46M | $702.68M | $710.75M | $726.23M | $746.70M | $753.73M | $769.92M | $757.76M | $797.61M | $797.19M |
| Stockholders' Equity | ($151.68M) | ($137.97M) | ($60.61M) | ($28.69M) | $24.83M | $23.70M | $43.92M | $66.87M | $152.08M | $156.63M |
| Retained Earnings | - | - | - | - | - | - | - | - | - | - |
Cash Flow
| Line item | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | ($15.18M) | - | - | - | ($6.21M) | - | - | - |
| Investing Cash Flow | - | - | $2.75M | - | - | - | $2.40M | - | - | - |
| Financing Cash Flow | - | - | ($3.43M) | - | - | - | $12.52M | - | - | - |
| CapEx | - | - | $2.04M | - | - | - | $965.0K | - | - | - |
| Free Cash Flow | - | - | ($17.22M) | - | - | - | ($7.18M) | - | - | - |
Ratios
| Metric | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 28.7% | 19.9% | 33.5% | - | 38.2% | 38.4% | 34.7% | - | 28.8% | 40.3% |
| Operating margin | -15.1% | -18.3% | -9.3% | - | -4.9% | 6.4% | -8.8% | - | -15.0% | 0.0% |
| EBITDA margin | -9.5% | -13.2% | 0.6% | - | 0.3% | 11.7% | 2.6% | - | -7.4% | 6.6% |
| Net margin | -17.8% | -16.6% | -40.1% | - | -1.6% | -11.5% | -28.6% | - | -28.4% | -22.3% |
| Free cash flow margin | - | - | -19.7% | - | - | - | -5.9% | - | - | - |
| FCF / Net income | - | - | 0.49 | - | - | - | 0.20 | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 43.7% | 38.2% | 42.6% | - | 43.0% | 32.0% | 43.4% | - | 43.7% | 40.3% |
| Effective tax rate | - | 149.7% | - | - | 109.3% | - | - | - | - | - |
| Return on assets | -2.7% | -2.5% | -5.4% | - | -0.2% | -1.8% | -4.3% | - | -3.9% | -3.0% |
| Return on equity | 9.4% | 10.4% | 57.9% | - | -7.5% | -60.5% | -79.9% | - | -24.1% | -18.4% |
| Return on invested capital | -6.5% | -5.0% | -3.4% | - | -1.0% | 2.3% | -2.4% | - | -3.4% | 0.0% |
| Liquidity | ||||||||||
| Current ratio | 0.89 | 0.94 | 0.82 | 0.85 | 0.92 | 0.80 | 1.14 | 1.17 | 1.17 | 1.09 |
| Quick ratio | 0.48 | 0.54 | 0.42 | 0.44 | 0.57 | 0.24 | 0.47 | 0.47 | 0.57 | 0.52 |
| Cash ratio | 0.13 | 0.09 | 0.08 | 0.15 | 0.12 | 0.11 | 0.27 | 0.22 | 0.31 | 0.16 |
| Leverage | ||||||||||
| Debt / Equity | -1.97 | -2.16 | -4.10 | -8.70 | 10.01 | 10.44 | 6.94 | 4.45 | 1.94 | 1.79 |
| Debt / Assets | 0.56 | 0.53 | 0.38 | 0.36 | 0.32 | 0.32 | 0.37 | 0.36 | 0.31 | 0.29 |
| Debt / EBITDA | - | - | 510.18 | - | 642.28 | 16.84 | 94.37 | - | - | 32.85 |
| Interest coverage | -1.5x | -1.1x | -0.9x | - | -0.6x | 0.8x | -1.2x | - | -1.4x | 0.0x |
| Equity multiplier | -3.54 | -4.09 | -10.70 | -24.26 | 31.04 | 32.79 | 18.51 | 12.31 | 6.24 | 6.08 |
| Liabilities / Assets | 1.29 | 1.25 | 1.10 | 1.04 | 0.97 | 0.97 | 0.95 | 0.92 | 0.84 | 0.84 |
| Efficiency | ||||||||||
| Asset turnover | 0.15 | 0.15 | 0.13 | - | 0.15 | 0.16 | 0.15 | - | 0.14 | 0.14 |
| Inventory turnover | 0.85 | 1.09 | 0.88 | - | 0.79 | - | - | - | - | - |
| Days sales outstanding | 70d | 81d | 78d | - | 49d | 39d | 30d | - | 71d | 40d |
| Days inventory outstanding | 428d | 336d | 413d | - | 461d | - | - | - | - | - |
| Days payable outstanding | 155d | 136d | 131d | - | 134d | - | - | - | - | - |
| Cash conversion cycle | 343d | 280d | 360d | - | 376d | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | 4.5x | 3.8x | 3.6x | - | - | - |
| P / S | 0.7x | 0.3x | 0.3x | - | 1.0x | 0.7x | 1.3x | - | - | - |
| EV / EBITDA | - | - | 517.9x | - | 846.5x | 21.4x | 130.0x | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -30.4% | -31.0% | -28.7% | - | -11.1% | -3.1% | -1.5% | - | -2.4% | -0.3% |
| Revenue CAGR (3y) | -15.5% | -12.7% | 0.5% | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -47.7% | -64.3% | -31.2% | - | 18.0% | -7.8% | -9.7% | - | -39.5% | 24.9% |
| Operating income growth (YoY) | -113.8% | - | 24.0% | - | 70.9% | 16238.8% | -29.8% | - | -3.3% | - |
| Net income growth (YoY) | -666.7% | 0.0% | 0.0% | - | 94.9% | 50.3% | 6.1% | - | -3.7% | 46.4% |
| EPS growth (YoY) | -650.0% | -433.3% | 12.5% | - | 95.6% | 57.1% | 11.1% | - | 0.0% | 50.0% |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | -140.0% | - | - | - | 21.4% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | - | - | - | -83.7% | -84.9% | -75.9% | -68.6% | -70.0% | -70.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2024-12-31.
Product / service
$458.72M totalDispensary$389.29M · 84.9%
Cultivation And Wholesale$69.44M · 15.1%
Peer comparison
Same SIC group: Agricultural Production-Crops
| Company | Revenue (last FY) | Net margin | ROE |
|---|---|---|---|
| FDP | $4.32B | 2.1% | 4.5% |
| CTVA | $17.40B | 6.3% | 4.5% |
| VRNO | $821.50M | -31.4% | -36.6% |
| GTII/GTBIF | $1.18B | 9.7% | 6.0% |
| GRAM | - | - | - |
Comparing Cannabist Co Holdings Inc. against the 5 most active filers in the same SIC group.