High Tide Inc. (HITI) 10-Year Financial Performance & Capital Metrics

HITI • • Industrial / General

HealthcarePharmaceuticalsSpecialty Pharmaceuticals & DistributionIntegrated Healthcare Distribution

AboutHigh Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company designs, manufactures, and distributes smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores. In addition, the company provides data analytics services, as well as operates Grasscity.com and CBDcity.com platforms. As of August 4, 2022, it operated 139 retail locations in Ontario, Alberta, British Columbia, Manitoba, and Saskatchewan. The company was formerly known as High Tide Ventures Inc. and changed its name to High Tide Inc. in October 2018. High Tide Inc. was founded in 2009 and is headquartered in Calgary, Canada.Show more

Revenue $522M +7.1%
EBITDA $30M +450.8%
Net Income -$4M +89.0%
EPS (Diluted) -0.05 +89.7%
Gross Margin 27.28% +1.3%
EBITDA Margin 5.82% +427.6%
Operating Margin 0.96% +111.3%
Net Margin -0.83% +89.7%
ROE -3.11% +88.3%
ROIC 2.15% +113.3%
Debt/Equity 0.51 -5.5%
Interest Coverage 0.39 +111.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Strong 5Y sales CAGR of 75.6%
✓Trading at only 1.4x book value
✓Efficient asset utilization: 2.1x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y75.59%

3Y42.34%

TTM9.22%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM71.55%

EPS CAGR

10Y-

5Y-

3Y-

TTM84.35%

ROCE

10Y Avg-19.76%

5Y Avg-9.01%

3Y Avg-9.34%

Latest2.78%

Peer Comparison

Integrated Healthcare Distribution

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
YI111, Inc.	28.99M	5.72	-0.76	-3.66%	-0.52%	-22.96%	100%	0.67
HITIHigh Tide Inc.	218.65M	2.51	-46.06	7.1%	-1.76%	-6.82%	11.8%	0.51

Profit & Loss

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Sales/Revenue+	8.34M	9.99M	8.75M	31.29M	83.27M	181.12M	356.85M	487.67M	522.31M
Revenue Growth %	-	0.2%	-0.12%	2.58%	1.66%	1.18%	0.97%	0.37%	0.07%
Cost of Goods Sold+	4.05M	5.29M	5.64M	19.98M	52.45M	117.14M	255.9M	356.36M	379.8M
COGS % of Revenue	0.48%	0.53%	0.64%	0.64%	0.63%	0.65%	0.72%	0.73%	0.73%
Gross Profit+	4.3M	4.71M	3.11M	11.32M	30.81M	63.98M	100.95M	131.31M	142.5M
Gross Margin %	0.52%	0.47%	0.36%	0.36%	0.37%	0.35%	0.28%	0.27%	0.27%
Gross Profit Growth %	-	0.1%	-0.34%	2.64%	1.72%	1.08%	0.58%	0.3%	0.09%
Operating Expenses+	2.66M	3.61M	6.7M	30.87M	29.44M	77.83M	121.06M	172.74M	137.5M
OpEx % of Revenue	0.32%	0.36%	0.77%	0.99%	0.35%	0.43%	0.34%	0.35%	0.26%
Selling, General & Admin	2.6M	3.58M	6.62M	29.46M	22.64M	54.27M	90.9M	101.21M	101.79M
SG&A % of Revenue	0.31%	0.36%	0.76%	0.94%	0.27%	0.3%	0.25%	0.21%	0.19%
Research & Development	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	28.29K	-462.28K	1.4M	6.8M	23.57M	30.17M	71.53M	35.71M
Operating Income+	1.62M	958.84K	-3.73M	-19.55M	-677K	-18.74M	-20.11M	-41.42M	5M
Operating Margin %	0.19%	0.1%	-0.43%	-0.62%	-0.01%	-0.1%	-0.06%	-0.08%	0.01%
Operating Income Growth %	-	-0.41%	-4.89%	-4.24%	0.97%	-26.68%	-0.07%	-1.06%	1.12%
EBITDA+	1.7M	987.13K	-3.65M	-18.15M	6.12M	4.82M	10.06M	-8.66M	30.4M
EBITDA Margin %	0.2%	0.1%	-0.42%	-0.58%	0.07%	0.03%	0.03%	-0.02%	0.06%
EBITDA Growth %	-	-0.42%	-4.7%	-3.98%	1.34%	-0.21%	1.09%	-1.86%	4.51%
D&A (Non-Cash Add-back)	72K	28.29K	85.82K	1.4M	6.8M	23.57M	30.17M	32.76M	25.39M
EBIT	1.62M	700.13K	-5.89M	-23.69M	1.88M	-25.53M	-63.81M	-36.96M	8.39M
Net Interest Income+	0	-138.75K	98K	-3.41M	-10.59M	-10.24M	-9.95M	-11.63M	-12.79M
Interest Income	48.07K	0	98K	3.31M	131K	0	0	0	0
Interest Expense	0	138.75K	0	1.83M	8M	10.24M	9.95M	11.63M	12.79M
Other Income/Expense	-11.58K	-401.95K	-2.29M	-7.45M	-6.22M	-17.09M	-1.45M	-7.17M	-9.41M
Pretax Income+	1.68M	561.38K	-6.03M	-27M	-6.13M	-35.77M	-73.76M	-48.6M	-4.4M
Pretax Margin %	0.2%	0.06%	-0.69%	-0.86%	-0.07%	-0.2%	-0.21%	-0.1%	-0.01%
Income Tax+	468.15K	265.07K	-1.49M	-708K	229K	-730K	-2.92M	-7.64M	-593K
Effective Tax Rate %	0.72%	0.53%	0.75%	0.97%	1.04%	0.98%	0.96%	0.81%	0.98%
Net Income+	1.22M	296.32K	-4.53M	-26.29M	-6.35M	-35.04M	-70.85M	-39.31M	-4.34M
Net Margin %	0.15%	0.03%	-0.52%	-0.84%	-0.08%	-0.19%	-0.2%	-0.08%	-0.01%
Net Income Growth %	-	-0.76%	-16.3%	-4.8%	0.76%	-4.51%	-1.02%	0.45%	0.89%
Net Income (Continuing)	1.22M	296.32K	-4.53M	-26.29M	-6.35M	-35.04M	-70.85M	-40.95M	-3.81M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	-12.84K	-179K	1.55M	4.79M	5.68M	2.11M	2.24M
EPS (Diluted)+	0.03	0.02	-0.35	-1.99	-0.42	-0.83	-1.13	-0.53	-0.05
EPS Growth %	-	-0.16%	-16.49%	-4.69%	0.79%	-0.98%	-0.36%	0.53%	0.9%
EPS (Basic)	0.03	0.02	-0.36	-1.99	-0.42	-0.83	-1.13	-0.53	-0.05
Diluted Shares Outstanding	45.33M	13.13M	13.13M	13.21M	15.27M	42.43M	62.78M	74.33M	79.56M
Basic Shares Outstanding	45.33M	13.13M	12.57M	13.21M	15.27M	42.43M	62.78M	74.33M	79.56M
Dividend Payout Ratio	0.13%	1.89%	-	-	-	-	-	-	-

Balance Sheet

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Total Current Assets+	9.82M	10.45M	17.51M	12.74M	19.28M	46.29M	64.06M	68.64M	85.79M
Cash & Short-Term Investments	1.28M	1.77M	8.2M	856K	7.57M	14.87M	25.28M	30.26M	47.98M
Cash Only	1.12M	1.07M	8.2M	806K	7.52M	14.01M	25.08M	30.12M	47.27M
Short-Term Investments	162.92K	697.87K	0	50K	50K	860K	195K	141K	712K
Accounts Receivable	1.1M	4.91M	917K	2.22M	2.67M	6.49M	7.92M	7.57M	3.31M
Days Sales Outstanding	48.09	179.34	38.26	25.93	11.72	13.09	8.1	5.67	2.31
Inventory	3.72M	3.54M	3.46M	6.72M	5.7M	17.04M	23.41M	25.97M	29.34M
Days Inventory Outstanding	335.7	244.64	224.15	122.76	39.68	53.1	33.4	26.6	28.19
Other Current Assets	3.24M	0	587	38K	-2.5M	958K	284K	0	0
Total Non-Current Assets+	601.96K	662.43K	8.41M	28M	50.53M	199.93M	210.68M	164.76M	160.42M
Property, Plant & Equipment	79.34K	101.25K	3.6M	12.38M	29.5M	52.74M	62M	57.78M	64M
Fixed Asset Turnover	105.16x	98.70x	2.43x	2.53x	2.82x	3.43x	5.76x	8.44x	8.16x
Goodwill	0	0	0	4.13M	6.06M	79.95M	83.42M	76.2M	73.37M
Intangible Assets	0	0	934.04K	8.04M	11.96M	62.33M	62.07M	27.28M	19.44M
Long-Term Investments	0	81.95K	706.42K	878K	1.72M	506K	203K	179K	0
Other Non-Current Assets	522.62K	81.95K	1.2M	1.38M	1.04M	4.4M	2.99M	3.31M	3.61M
Total Assets+	10.42M	11.11M	25.92M	40.74M	69.81M	246.22M	274.74M	233.4M	246.21M
Asset Turnover	0.80x	0.90x	0.34x	0.77x	1.19x	0.74x	1.30x	2.09x	2.12x
Asset Growth %	-	0.07%	1.33%	0.57%	0.71%	2.53%	0.12%	-0.15%	0.05%
Total Current Liabilities+	20.27M	20.75M	2.59M	10.8M	27.46M	40.79M	59.94M	58.14M	61.48M
Accounts Payable	445.39K	675.28K	2.52M	4.41M	6.42M	8.74M	7.67M	8.35M	8.05M
Days Payables Outstanding	40.18	46.63	162.79	80.53	44.68	27.23	10.94	8.56	7.74
Short-Term Debt	19.14M	609.94K	36K	4.28M	16.39M	6.55M	19.09M	24.98M	26.86M
Deferred Revenue (Current)	0	800.78K	0	0	1000K	185K	641K	0	1000K
Other Current Liabilities	639.84K	19.34M	32.77K	2.12M	764K	11.98M	10.19M	6.67M	0
Current Ratio	0.48x	0.50x	6.76x	1.18x	0.70x	1.13x	1.07x	1.18x	1.40x
Quick Ratio	0.30x	0.33x	5.42x	0.56x	0.49x	0.72x	0.68x	0.73x	0.92x
Cash Conversion Cycle	343.61	377.35	99.62	68.15	6.71	38.96	30.55	23.72	22.77
Total Non-Current Liabilities+	25.24K	21.83K	17.31K	20.54M	30.62M	53.42M	52.77M	41.6M	39.22M
Long-Term Debt	0	0	0	19.74M	13.96M	20.8M	17.03M	12.51M	7.54M
Capital Lease Obligations	25.24K	21.83K	17K	0	14.47M	24.04M	26.14M	27.82M	31.39M
Deferred Tax Liabilities	0	0	0	710K	2.19M	8.58M	9.6M	1.27M	284K
Other Non-Current Liabilities	0	0	0	0	0	8.58M	0	0	0
Total Liabilities	20.29M	20.77M	2.61M	31.34M	58.09M	94.21M	112.71M	99.73M	100.7M
Total Debt+	19.16M	664.68K	59.61K	24.01M	46.97M	55.43M	69.88M	72.53M	74.61M
Net Debt	18.05M	-402.81K	-8.14M	23.21M	39.44M	41.41M	44.8M	42.41M	27.35M
Debt / Equity	-	-	0.00x	2.55x	4.01x	0.36x	0.43x	0.54x	0.51x
Debt / EBITDA	11.30x	0.67x	-	-	7.67x	11.49x	6.95x	-	2.45x
Net Debt / EBITDA	10.64x	-0.41x	-	-	6.44x	8.59x	4.46x	-	0.90x
Interest Coverage	-	6.91x	-	-10.68x	-0.08x	-1.83x	-2.02x	-3.56x	0.39x
Total Equity+	-9.87M	-9.66M	23.32M	9.41M	11.72M	152M	162.03M	133.67M	145.51M
Equity Growth %	-	0.02%	3.41%	-0.6%	0.25%	11.97%	0.07%	-0.18%	0.09%
Book Value per Share	-0.22	-0.74	1.78	0.71	0.77	3.58	2.58	1.80	1.83
Total Shareholders' Equity	-9.87M	-9.66M	23.33M	9.59M	10.17M	147.21M	156.35M	131.56M	143.27M
Common Stock	6	667.63K	35.69M	26.28M	32.55M	208.9M	279.51M	288.03M	0
Retained Earnings	-9.87M	-10.38M	-30.18M	-26.7M	-34.36M	-87.79M	-168.09M	-205.93M	0
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	51.02K	17.81M	-366K	-487K	-648K	5.67M	5.26M	0
Minority Interest	0	0	-12.84K	-179K	1.55M	4.79M	5.68M	2.11M	2.24M

Cash Flow

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Cash from Operations+	289.72K	1.04M	-8.78M	-14.83M	8.85M	-2.83M	4.5M	20.66M	35.55M
Operating CF Margin %	0.03%	0.1%	-1%	-0.47%	0.11%	-0.02%	0.01%	0.04%	0.07%
Operating CF Growth %	-	2.59%	-9.43%	-0.69%	1.6%	-1.32%	2.59%	3.6%	0.72%
Net Income	1.22M	296.32K	-4.53M	-26.29M	-6.35M	-35.04M	-70.85M	-40.95M	-3.81M
Depreciation & Amortization	72K	28.29K	85.82K	1.4M	6.8M	23.57M	30.17M	32.76M	25.39M
Stock-Based Compensation	0	0	145.56K	2.21M	129K	4.88M	8.08M	5.03M	2.98M
Deferred Taxes	0	265.07K	-1.49M	-708K	229K	-730K	-2.92M	-7.64M	-593K
Other Non-Cash Items	685.48K	-213.8K	2.07M	6.71M	2.85M	14.39M	44.62M	36.33M	8.54M
Working Capital Changes	-1.68M	665.56K	-5.06M	1.85M	5.2M	-9.9M	-4.61M	-4.86M	3.04M
Change in Receivables	-568.95K	-599.86K	-672.53K	-1.92M	-458K	-1.63M	-738K	627K	4.26M
Change in Inventory	-339.37K	215.89K	-102.24K	-1.81M	1.95M	-5.5M	-2.87M	-2.87M	-3.32M
Change in Payables	0	299.06K	1.72M	2.46M	2.47M	919K	1.84M	-3.34M	0
Cash from Investing+	818.11K	-534.14K	-4.23M	-16.92M	-3.3M	-28.49M	-8.59M	-5.72M	-11.01M
Capital Expenditures	-2.44K	-50.2K	-4.23M	-10.41M	-2.77M	-10.71M	-9.05M	-5.79M	-9.05M
CapEx % of Revenue	0%	0.01%	0.48%	0.33%	0.03%	0.06%	0.03%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-
Other Investing	820.56K	-483.94K	-646K	-2.33M	-474K	2.6M	-1.3M	-295K	-703K
Cash from Financing+	-179.02K	-555.14K	20.14M	24.36M	1.17M	37.81M	15.17M	-9.26M	-7.72M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-
Dividends Paid	-155.31K	-560.01K	-1.16M	0	0	0	-1.96M	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-
Other Financing	2	0	16.87M	-401K	-2.26M	9.32M	-2.39M	2.11M	40K
Net Change in Cash	-	-	-	-	-	-	-	-	-
Free Cash Flow+	287.28K	991.23K	-13.01M	-25.24M	6.08M	-13.54M	-4.56M	14.58M	25.8M
FCF Margin %	0.03%	0.1%	-1.49%	-0.81%	0.07%	-0.07%	-0.01%	0.03%	0.05%
FCF Growth %	-	2.45%	-14.12%	-0.94%	1.24%	-3.23%	0.66%	4.2%	0.77%
FCF per Share	0.01	0.08	-0.99	-1.91	0.40	-0.32	-0.07	0.20	0.32
FCF Conversion (FCF/Net Income)	0.24x	3.51x	1.94x	0.56x	-1.39x	0.08x	-0.06x	-0.53x	-8.20x
Interest Paid	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-66.37%	-160.7%	-60.14%	-42.8%	-45.12%	-26.59%	-3.11%
Return on Invested Capital (ROIC)	14.9%	-	-109.45%	-61.36%	-1.21%	-11.49%	-7.54%	-16.23%	2.15%
Gross Margin	51.51%	47.11%	35.54%	36.16%	37%	35.33%	28.29%	26.93%	27.28%
Net Margin	14.57%	2.97%	-51.81%	-84.02%	-7.63%	-19.34%	-19.85%	-8.06%	-0.83%
Debt / Equity	-	-	0.00x	2.55x	4.01x	0.36x	0.43x	0.54x	0.51x
Interest Coverage	-	6.91x	-	-10.68x	-0.08x	-1.83x	-2.02x	-3.56x	0.39x
FCF Conversion	0.24x	3.51x	1.94x	0.56x	-1.39x	0.08x	-0.06x	-0.53x	-8.20x
Revenue Growth	-	19.77%	-12.45%	257.7%	166.07%	117.53%	97.02%	36.66%	7.1%

Revenue by Geography

	2021	2022
Canada	150.47M	290.44M
Canada Growth	-	93.02%
USA	19.95M	59.87M
USA Growth	-	200.15%
Europe	10.71M	-
Europe Growth	-	-

Frequently Asked Questions

Growth & Financials

High Tide Inc. (HITI) reported $550.2M in revenue for fiscal year 2024. This represents a 6495% increase from $8.3M in 2016.

High Tide Inc. (HITI) grew revenue by 7.1% over the past year. This is steady growth.

High Tide Inc. (HITI) reported a net loss of $9.7M for fiscal year 2024.

Dividend & Returns

High Tide Inc. (HITI) has a return on equity (ROE) of -3.1%. Negative ROE indicates the company is unprofitable.

High Tide Inc. (HITI) generated $14.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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High Tide Inc. (HITI) 10-Year Financial Performance & Capital Metrics

HITI • • Industrial / General

HealthcarePharmaceuticalsSpecialty Pharmaceuticals & DistributionIntegrated Healthcare Distribution

Revenue $522M +7.1%
EBITDA $30M +450.8%
Net Income -$4M +89.0%
EPS (Diluted) -0.05 +89.7%
Gross Margin 27.28% +1.3%
EBITDA Margin 5.82% +427.6%
Operating Margin 0.96% +111.3%
Net Margin -0.83% +89.7%
ROE -3.11% +88.3%
ROIC 2.15% +113.3%
Debt/Equity 0.51 -5.5%
Interest Coverage 0.39 +111.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Strong 5Y sales CAGR of 75.6%
✓Trading at only 1.4x book value
✓Efficient asset utilization: 2.1x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y75.59%

3Y42.34%

TTM9.22%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM71.55%

EPS CAGR

10Y-

5Y-

3Y-

TTM84.35%

ROCE

10Y Avg-19.76%

5Y Avg-9.01%

3Y Avg-9.34%

Latest2.78%

Peer Comparison

Integrated Healthcare Distribution

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
YI111, Inc.	28.99M	5.72	-0.76	-3.66%	-0.52%	-22.96%	100%	0.67
HITIHigh Tide Inc.	218.65M	2.51	-46.06	7.1%	-1.76%	-6.82%	11.8%	0.51

Profit & Loss

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Sales/Revenue+	8.34M	9.99M	8.75M	31.29M	83.27M	181.12M	356.85M	487.67M	522.31M
Revenue Growth %	-	0.2%	-0.12%	2.58%	1.66%	1.18%	0.97%	0.37%	0.07%
Cost of Goods Sold+	4.05M	5.29M	5.64M	19.98M	52.45M	117.14M	255.9M	356.36M	379.8M
COGS % of Revenue	0.48%	0.53%	0.64%	0.64%	0.63%	0.65%	0.72%	0.73%	0.73%
Gross Profit+	4.3M	4.71M	3.11M	11.32M	30.81M	63.98M	100.95M	131.31M	142.5M
Gross Margin %	0.52%	0.47%	0.36%	0.36%	0.37%	0.35%	0.28%	0.27%	0.27%
Gross Profit Growth %	-	0.1%	-0.34%	2.64%	1.72%	1.08%	0.58%	0.3%	0.09%
Operating Expenses+	2.66M	3.61M	6.7M	30.87M	29.44M	77.83M	121.06M	172.74M	137.5M
OpEx % of Revenue	0.32%	0.36%	0.77%	0.99%	0.35%	0.43%	0.34%	0.35%	0.26%
Selling, General & Admin	2.6M	3.58M	6.62M	29.46M	22.64M	54.27M	90.9M	101.21M	101.79M
SG&A % of Revenue	0.31%	0.36%	0.76%	0.94%	0.27%	0.3%	0.25%	0.21%	0.19%
Research & Development	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	28.29K	-462.28K	1.4M	6.8M	23.57M	30.17M	71.53M	35.71M
Operating Income+	1.62M	958.84K	-3.73M	-19.55M	-677K	-18.74M	-20.11M	-41.42M	5M
Operating Margin %	0.19%	0.1%	-0.43%	-0.62%	-0.01%	-0.1%	-0.06%	-0.08%	0.01%
Operating Income Growth %	-	-0.41%	-4.89%	-4.24%	0.97%	-26.68%	-0.07%	-1.06%	1.12%
EBITDA+	1.7M	987.13K	-3.65M	-18.15M	6.12M	4.82M	10.06M	-8.66M	30.4M
EBITDA Margin %	0.2%	0.1%	-0.42%	-0.58%	0.07%	0.03%	0.03%	-0.02%	0.06%
EBITDA Growth %	-	-0.42%	-4.7%	-3.98%	1.34%	-0.21%	1.09%	-1.86%	4.51%
D&A (Non-Cash Add-back)	72K	28.29K	85.82K	1.4M	6.8M	23.57M	30.17M	32.76M	25.39M
EBIT	1.62M	700.13K	-5.89M	-23.69M	1.88M	-25.53M	-63.81M	-36.96M	8.39M
Net Interest Income+	0	-138.75K	98K	-3.41M	-10.59M	-10.24M	-9.95M	-11.63M	-12.79M
Interest Income	48.07K	0	98K	3.31M	131K	0	0	0	0
Interest Expense	0	138.75K	0	1.83M	8M	10.24M	9.95M	11.63M	12.79M
Other Income/Expense	-11.58K	-401.95K	-2.29M	-7.45M	-6.22M	-17.09M	-1.45M	-7.17M	-9.41M
Pretax Income+	1.68M	561.38K	-6.03M	-27M	-6.13M	-35.77M	-73.76M	-48.6M	-4.4M
Pretax Margin %	0.2%	0.06%	-0.69%	-0.86%	-0.07%	-0.2%	-0.21%	-0.1%	-0.01%
Income Tax+	468.15K	265.07K	-1.49M	-708K	229K	-730K	-2.92M	-7.64M	-593K
Effective Tax Rate %	0.72%	0.53%	0.75%	0.97%	1.04%	0.98%	0.96%	0.81%	0.98%
Net Income+	1.22M	296.32K	-4.53M	-26.29M	-6.35M	-35.04M	-70.85M	-39.31M	-4.34M
Net Margin %	0.15%	0.03%	-0.52%	-0.84%	-0.08%	-0.19%	-0.2%	-0.08%	-0.01%
Net Income Growth %	-	-0.76%	-16.3%	-4.8%	0.76%	-4.51%	-1.02%	0.45%	0.89%
Net Income (Continuing)	1.22M	296.32K	-4.53M	-26.29M	-6.35M	-35.04M	-70.85M	-40.95M	-3.81M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	-12.84K	-179K	1.55M	4.79M	5.68M	2.11M	2.24M
EPS (Diluted)+	0.03	0.02	-0.35	-1.99	-0.42	-0.83	-1.13	-0.53	-0.05
EPS Growth %	-	-0.16%	-16.49%	-4.69%	0.79%	-0.98%	-0.36%	0.53%	0.9%
EPS (Basic)	0.03	0.02	-0.36	-1.99	-0.42	-0.83	-1.13	-0.53	-0.05
Diluted Shares Outstanding	45.33M	13.13M	13.13M	13.21M	15.27M	42.43M	62.78M	74.33M	79.56M
Basic Shares Outstanding	45.33M	13.13M	12.57M	13.21M	15.27M	42.43M	62.78M	74.33M	79.56M
Dividend Payout Ratio	0.13%	1.89%	-	-	-	-	-	-	-

Balance Sheet

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Total Current Assets+	9.82M	10.45M	17.51M	12.74M	19.28M	46.29M	64.06M	68.64M	85.79M
Cash & Short-Term Investments	1.28M	1.77M	8.2M	856K	7.57M	14.87M	25.28M	30.26M	47.98M
Cash Only	1.12M	1.07M	8.2M	806K	7.52M	14.01M	25.08M	30.12M	47.27M
Short-Term Investments	162.92K	697.87K	0	50K	50K	860K	195K	141K	712K
Accounts Receivable	1.1M	4.91M	917K	2.22M	2.67M	6.49M	7.92M	7.57M	3.31M
Days Sales Outstanding	48.09	179.34	38.26	25.93	11.72	13.09	8.1	5.67	2.31
Inventory	3.72M	3.54M	3.46M	6.72M	5.7M	17.04M	23.41M	25.97M	29.34M
Days Inventory Outstanding	335.7	244.64	224.15	122.76	39.68	53.1	33.4	26.6	28.19
Other Current Assets	3.24M	0	587	38K	-2.5M	958K	284K	0	0
Total Non-Current Assets+	601.96K	662.43K	8.41M	28M	50.53M	199.93M	210.68M	164.76M	160.42M
Property, Plant & Equipment	79.34K	101.25K	3.6M	12.38M	29.5M	52.74M	62M	57.78M	64M
Fixed Asset Turnover	105.16x	98.70x	2.43x	2.53x	2.82x	3.43x	5.76x	8.44x	8.16x
Goodwill	0	0	0	4.13M	6.06M	79.95M	83.42M	76.2M	73.37M
Intangible Assets	0	0	934.04K	8.04M	11.96M	62.33M	62.07M	27.28M	19.44M
Long-Term Investments	0	81.95K	706.42K	878K	1.72M	506K	203K	179K	0
Other Non-Current Assets	522.62K	81.95K	1.2M	1.38M	1.04M	4.4M	2.99M	3.31M	3.61M
Total Assets+	10.42M	11.11M	25.92M	40.74M	69.81M	246.22M	274.74M	233.4M	246.21M
Asset Turnover	0.80x	0.90x	0.34x	0.77x	1.19x	0.74x	1.30x	2.09x	2.12x
Asset Growth %	-	0.07%	1.33%	0.57%	0.71%	2.53%	0.12%	-0.15%	0.05%
Total Current Liabilities+	20.27M	20.75M	2.59M	10.8M	27.46M	40.79M	59.94M	58.14M	61.48M
Accounts Payable	445.39K	675.28K	2.52M	4.41M	6.42M	8.74M	7.67M	8.35M	8.05M
Days Payables Outstanding	40.18	46.63	162.79	80.53	44.68	27.23	10.94	8.56	7.74
Short-Term Debt	19.14M	609.94K	36K	4.28M	16.39M	6.55M	19.09M	24.98M	26.86M
Deferred Revenue (Current)	0	800.78K	0	0	1000K	185K	641K	0	1000K
Other Current Liabilities	639.84K	19.34M	32.77K	2.12M	764K	11.98M	10.19M	6.67M	0
Current Ratio	0.48x	0.50x	6.76x	1.18x	0.70x	1.13x	1.07x	1.18x	1.40x
Quick Ratio	0.30x	0.33x	5.42x	0.56x	0.49x	0.72x	0.68x	0.73x	0.92x
Cash Conversion Cycle	343.61	377.35	99.62	68.15	6.71	38.96	30.55	23.72	22.77
Total Non-Current Liabilities+	25.24K	21.83K	17.31K	20.54M	30.62M	53.42M	52.77M	41.6M	39.22M
Long-Term Debt	0	0	0	19.74M	13.96M	20.8M	17.03M	12.51M	7.54M
Capital Lease Obligations	25.24K	21.83K	17K	0	14.47M	24.04M	26.14M	27.82M	31.39M
Deferred Tax Liabilities	0	0	0	710K	2.19M	8.58M	9.6M	1.27M	284K
Other Non-Current Liabilities	0	0	0	0	0	8.58M	0	0	0
Total Liabilities	20.29M	20.77M	2.61M	31.34M	58.09M	94.21M	112.71M	99.73M	100.7M
Total Debt+	19.16M	664.68K	59.61K	24.01M	46.97M	55.43M	69.88M	72.53M	74.61M
Net Debt	18.05M	-402.81K	-8.14M	23.21M	39.44M	41.41M	44.8M	42.41M	27.35M
Debt / Equity	-	-	0.00x	2.55x	4.01x	0.36x	0.43x	0.54x	0.51x
Debt / EBITDA	11.30x	0.67x	-	-	7.67x	11.49x	6.95x	-	2.45x
Net Debt / EBITDA	10.64x	-0.41x	-	-	6.44x	8.59x	4.46x	-	0.90x
Interest Coverage	-	6.91x	-	-10.68x	-0.08x	-1.83x	-2.02x	-3.56x	0.39x
Total Equity+	-9.87M	-9.66M	23.32M	9.41M	11.72M	152M	162.03M	133.67M	145.51M
Equity Growth %	-	0.02%	3.41%	-0.6%	0.25%	11.97%	0.07%	-0.18%	0.09%
Book Value per Share	-0.22	-0.74	1.78	0.71	0.77	3.58	2.58	1.80	1.83
Total Shareholders' Equity	-9.87M	-9.66M	23.33M	9.59M	10.17M	147.21M	156.35M	131.56M	143.27M
Common Stock	6	667.63K	35.69M	26.28M	32.55M	208.9M	279.51M	288.03M	0
Retained Earnings	-9.87M	-10.38M	-30.18M	-26.7M	-34.36M	-87.79M	-168.09M	-205.93M	0
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	51.02K	17.81M	-366K	-487K	-648K	5.67M	5.26M	0
Minority Interest	0	0	-12.84K	-179K	1.55M	4.79M	5.68M	2.11M	2.24M

Cash Flow

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Cash from Operations+	289.72K	1.04M	-8.78M	-14.83M	8.85M	-2.83M	4.5M	20.66M	35.55M
Operating CF Margin %	0.03%	0.1%	-1%	-0.47%	0.11%	-0.02%	0.01%	0.04%	0.07%
Operating CF Growth %	-	2.59%	-9.43%	-0.69%	1.6%	-1.32%	2.59%	3.6%	0.72%
Net Income	1.22M	296.32K	-4.53M	-26.29M	-6.35M	-35.04M	-70.85M	-40.95M	-3.81M
Depreciation & Amortization	72K	28.29K	85.82K	1.4M	6.8M	23.57M	30.17M	32.76M	25.39M
Stock-Based Compensation	0	0	145.56K	2.21M	129K	4.88M	8.08M	5.03M	2.98M
Deferred Taxes	0	265.07K	-1.49M	-708K	229K	-730K	-2.92M	-7.64M	-593K
Other Non-Cash Items	685.48K	-213.8K	2.07M	6.71M	2.85M	14.39M	44.62M	36.33M	8.54M
Working Capital Changes	-1.68M	665.56K	-5.06M	1.85M	5.2M	-9.9M	-4.61M	-4.86M	3.04M
Change in Receivables	-568.95K	-599.86K	-672.53K	-1.92M	-458K	-1.63M	-738K	627K	4.26M
Change in Inventory	-339.37K	215.89K	-102.24K	-1.81M	1.95M	-5.5M	-2.87M	-2.87M	-3.32M
Change in Payables	0	299.06K	1.72M	2.46M	2.47M	919K	1.84M	-3.34M	0
Cash from Investing+	818.11K	-534.14K	-4.23M	-16.92M	-3.3M	-28.49M	-8.59M	-5.72M	-11.01M
Capital Expenditures	-2.44K	-50.2K	-4.23M	-10.41M	-2.77M	-10.71M	-9.05M	-5.79M	-9.05M
CapEx % of Revenue	0%	0.01%	0.48%	0.33%	0.03%	0.06%	0.03%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-
Other Investing	820.56K	-483.94K	-646K	-2.33M	-474K	2.6M	-1.3M	-295K	-703K
Cash from Financing+	-179.02K	-555.14K	20.14M	24.36M	1.17M	37.81M	15.17M	-9.26M	-7.72M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-
Dividends Paid	-155.31K	-560.01K	-1.16M	0	0	0	-1.96M	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-
Other Financing	2	0	16.87M	-401K	-2.26M	9.32M	-2.39M	2.11M	40K
Net Change in Cash	-	-	-	-	-	-	-	-	-
Free Cash Flow+	287.28K	991.23K	-13.01M	-25.24M	6.08M	-13.54M	-4.56M	14.58M	25.8M
FCF Margin %	0.03%	0.1%	-1.49%	-0.81%	0.07%	-0.07%	-0.01%	0.03%	0.05%
FCF Growth %	-	2.45%	-14.12%	-0.94%	1.24%	-3.23%	0.66%	4.2%	0.77%
FCF per Share	0.01	0.08	-0.99	-1.91	0.40	-0.32	-0.07	0.20	0.32
FCF Conversion (FCF/Net Income)	0.24x	3.51x	1.94x	0.56x	-1.39x	0.08x	-0.06x	-0.53x	-8.20x
Interest Paid	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-66.37%	-160.7%	-60.14%	-42.8%	-45.12%	-26.59%	-3.11%
Return on Invested Capital (ROIC)	14.9%	-	-109.45%	-61.36%	-1.21%	-11.49%	-7.54%	-16.23%	2.15%
Gross Margin	51.51%	47.11%	35.54%	36.16%	37%	35.33%	28.29%	26.93%	27.28%
Net Margin	14.57%	2.97%	-51.81%	-84.02%	-7.63%	-19.34%	-19.85%	-8.06%	-0.83%
Debt / Equity	-	-	0.00x	2.55x	4.01x	0.36x	0.43x	0.54x	0.51x
Interest Coverage	-	6.91x	-	-10.68x	-0.08x	-1.83x	-2.02x	-3.56x	0.39x
FCF Conversion	0.24x	3.51x	1.94x	0.56x	-1.39x	0.08x	-0.06x	-0.53x	-8.20x
Revenue Growth	-	19.77%	-12.45%	257.7%	166.07%	117.53%	97.02%	36.66%	7.1%

Revenue by Geography

	2021	2022
Canada	150.47M	290.44M
Canada Growth	-	93.02%
USA	19.95M	59.87M
USA Growth	-	200.15%
Europe	10.71M	-
Europe Growth	-	-

Frequently Asked Questions

Growth & Financials

High Tide Inc. (HITI) reported $550.2M in revenue for fiscal year 2024. This represents a 6495% increase from $8.3M in 2016.

High Tide Inc. (HITI) grew revenue by 7.1% over the past year. This is steady growth.

High Tide Inc. (HITI) reported a net loss of $9.7M for fiscal year 2024.

Dividend & Returns

High Tide Inc. (HITI) has a return on equity (ROE) of -3.1%. Negative ROE indicates the company is unprofitable.

High Tide Inc. (HITI) generated $14.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.