The company maintains a conservative financial structure with a debt-to-equity ratio of 0.15 as of 2026Q1, providing a stable foundation despite the $127.2M in goodwill and intangible assets.
| Total Current Assets | 419.53M | 450.07M | 461.84M | 406.91M | 501.48M | 728.17M | 118.37M | 172.62M | 8.91M | 4.19M |
| Cash & Short-Term Investments | 233.86M | 273.17M | 248.89M | 201.64M | 311.76M | 649.03M | 60.38M | 45.34M | 7.68M | 3.72M |
| Cash Only | 233.36M | 272.6M | 218.36M | 195.04M | 279.59M | 558.25M | 60.38M | 45.34M | 7.68M | 3.72M |
| Short-Term Investments | 500.65K | 568.57K | 30.53M | 6.59M | 32.18M | 90.78M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 31.91M | 30.45M | 28.12M | 27.06M | 22.64M | 10.87M | 15.9M | 27.64M | 269.19K | 81.55K |
| Days Sales Outstanding | 11.76 | 11.74 | 11.15 | 10.87 | 11.6 | 70.66 | 95.26 | 158.71 | 10.18 | - |
| Inventory | 137.85M | 130.13M | 129.11M | 129.49M | 131.26M | 33.91M | 29.14M | 74.25M | 365.63K | 0 |
| Days Inventory Outstanding | 71.44 | 69.06 | 69.29 | 65.77 | 83.78 | 190.06 | 96.02 | 1K | 14.37 | - |
| Other Current Assets | 15.89M | 16.33M | 38.87M | 26.27M | 25.71M | 30.01M | 8.33M | 15.83M | 54.34K | 350K |
| Total Non-Current Assets | 894.19M | 887.19M | 887.4M | 1.07B | 1.06B | 699.49M | 176.5M | 337.42M | 16.84M | 8.48M |
| Property, Plant & Equipment | 286.05M | 290.55M | 261.25M | 282.6M | 277.56M | 63.19M | 116.93M | 281.98M | 16.32M | 7.95M |
| Fixed Asset Turnover | 3.34x | 3.26x | 3.52x | 3.22x | 2.57x | 0.89x | 0.52x | 0.23x | 0.59x | - |
| Goodwill | 127.17M | 124.37M | 124.25M | 119.28M | 67.26M | 72.5M | 0 | 11.44M | 0 | 0 |
| Intangible Assets | 57.78M | 58.58M | 61.33M | 73.15M | 74.89M | 50.15M | 5.06M | 43.99M | 522.5K | 522.5K |
| Long-Term Investments | 1.66B | 409.16M | 436.9M | 586.39M | 629.58M | 505.93M | 51.88M | 0 | 0 | 0 |
| Other Non-Current Assets | 2.51M | 4.53M | 3.68M | 4.84M | 8.58M | 7.72M | 2.63M | 0 | 0 | 0 |
| Total Assets | 1.31B | 1.34B | 1.35B | 1.47B | 1.56B | 1.43B | 294.87M | 510.04M | 25.75M | 12.67M |
| Asset Turnover | 0.71x | 0.71x | 0.68x | 0.62x | 0.46x | 0.04x | 0.21x | 0.12x | 0.37x | - |
| Asset Growth % | -21.7% | -0.89% | -8.41% | -5.53% | 9.22% | 384.16% | -42.19% | 1880.38% | 103.33% | - |
| Total Current Liabilities | 86.73M | 92.3M | 90.56M | 103.15M | 89.36M | 65.85M | 24.14M | 269.25M | 11.93M | 1.13M |
| Accounts Payable | 51.76M | 28.03M | 27.06M | 22.04M | 9.77M | 4.17M | 4.85M | 20.23M | 0 | 0 |
| Days Payables Outstanding | 21.29 | 14.88 | 14.52 | 11.19 | 6.24 | 23.38 | 15.98 | 272.79 | - | - |
| Short-Term Debt | 34.97M | 35.5M | 0 | 0 | 0 | 0 | 0 | 177.91M | 7.02M | 7M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 28.77M | 26K | 4.4M | 11M | 21.7M | 428K | 32.5M | 4.9M | -5.9M |
| Current Ratio | 4.84x | 4.88x | 5.10x | 3.94x | 5.61x | 11.06x | 4.90x | 0.64x | 0.75x | 3.71x |
| Quick Ratio | 3.25x | 3.47x | 3.67x | 2.69x | 4.14x | 10.54x | 3.70x | 0.37x | 0.72x | 3.71x |
| Cash Conversion Cycle | 61.91 | 65.93 | 65.91 | 65.45 | 89.15 | 237.33 | 175.3 | 887.24 | - | - |
| Total Non-Current Liabilities | 140.21M | 142.66M | 125.33M | 140.68M | 142.33M | 32.27M | 1.03M | 19.59M | 116.33K | 17.12K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16.23M | 116.33K | 0 |
| Capital Lease Obligations | 505.04M | 134.61M | 118.02M | 136.49M | 139.63M | 27.77M | 1.03M | 16.23M | 0 | 116.33K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.37M | 0 | 0 |
| Other Non-Current Liabilities | 6.92M | 8.05M | 7.31M | 4.18M | 2.71M | 4.5M | 0 | -16.23M | 0 | -99.2K |
| Total Liabilities | 226.94M | 234.96M | 215.89M | 243.82M | 231.69M | 98.13M | 25.18M | 288.84M | 12.04M | 1.15M |
| Total Debt | 168.25M | 170.1M | 152.27M | 167.03M | 169.83M | 33.47M | 1.44M | 211.09M | 7.14M | 25.56K |
| Net Debt | -65.11M | -102.49M | -66.09M | -28.01M | -109.75M | -524.78M | -58.94M | 165.75M | -536.91K | -3.69M |
| Debt / Equity | 0.15x | 0.15x | 0.13x | 0.14x | 0.13x | 0.03x | 0.01x | 0.95x | 0.52x | 0.00x |
| Debt / EBITDA | 3.45x | 3.28x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -1.33x | -1.98x | - | - | - | - | - | - | - | - |
| Interest Coverage | -1.16x | -1.10x | -12.72x | -20.72x | -63.34x | -301.45x | -23.66x | -8.20x | - | - |
| Total Equity | 1.09B | 1.1B | 1.13B | 1.23B | 1.33B | 1.33B | 269.69M | 221.2M | 13.71M | 11.52M |
| Equity Growth % | -26.69% | -2.74% | -7.81% | -7.41% | -0.14% | 392.98% | 21.92% | 1513.4% | 19% | - |
| Book Value per Share | 4.18 | 4.27 | 4.29 | 4.74 | 5.78 | 7.15 | 12.33 | 25.80 | 1.64 | 1.37 |
| Total Shareholders' Equity | 1.09B | 1.1B | 1.13B | 1.21B | 1.31B | 1.33B | 271.68M | 216.48M | 13.71M | 11.52M |
| Common Stock | 2.27B | 2.31B | 2.35B | 2.38B | 2.29B | 2.04B | 762.05M | 509.65M | 25.77M | 15.14M |
| Retained Earnings | -1.28B | -1.3B | -1.32B | -1.26B | -1.09B | -785.11M | -558.13M | -360.34M | -16.61M | -3.61M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 42.89M | 39.24M | 52.77M | 19.42M | 32.19M | 7.61M | 0 | 6.87M | -486.35K | -123.36K |
| Minority Interest | 0 | 0 | 0 | 17.27M | 21.16M | 229K | -1.98M | 4.71M | 0 | 0 |
Asset Valuation and Impairment Risk
According to recent financial disclosures, SNDL has maintained a remarkably consistent total asset base of approximately $1.3 billion since 2024Q4, suggesting that the company's strategic pivot toward a diversified retail and investment conglomerate has successfully stabilized its balance sheet despite ongoing operational headwinds in the cannabis sector.
The stability in total assets, coupled with a steady equity position of $1.1 billion, indicates that management has successfully avoided further dilutive capital raises or significant asset write-downs in recent quarters. This plateau in the balance sheet trajectory suggests that the company is currently in a consolidation phase, focusing on optimizing its existing retail and credit portfolio rather than aggressive expansion.
As reported in quarterly filings, SNDL maintains a conservative debt-to-equity ratio of 0.15 as of 2026Q1, which highlights a disciplined approach to leverage that stands in stark contrast to the highly indebted profiles often observed among other Canadian licensed producers in the current high-interest rate environment.
The company's minimal reliance on debt financing provides a critical buffer against the volatility inherent in the cannabis industry, allowing for greater operational flexibility. Investors should monitor whether this low leverage is maintained as the company continues to restructure its SunStream joint venture, as any shift toward debt-funded acquisitions could fundamentally alter this risk profile.
Based on the provided balance sheet data, SNDL exhibits a strong liquidity position with a current ratio of 4.84 in 2026Q1, providing a significant cushion against the cash flow volatility and working capital swings that have historically impacted the company's ability to fund its diverse retail and manufacturing operations.
The current ratio, which has remained consistently above 4.0 over the last several quarters, suggests that the company is well-positioned to meet its short-term obligations without the need for external financing. This liquidity buffer is essential for navigating the competitive Canadian retail landscape, though it warrants further investigation into how much of this cash is restricted versus available for strategic deployment.
Analysis of the balance sheet reveals that goodwill and intangible assets, totaling $127.2 million as of 2026Q1, represent a non-trivial portion of the company's asset base, which may be susceptible to impairment if the retail cannabis market continues to face persistent price compression and margin erosion.
While the headline numbers appear healthy, the reliance on Level 3 inputs for valuing the SunStream investment portfolio and the potential for goodwill impairment create a layer of opacity that investors should not overlook. The persistent negative retained earnings of $1.3 billion further suggest that the company's historical growth strategy has yet to translate into sustainable, long-term value creation for shareholders.
Quick answers to the most common questions about buying SNDL stock.
As of 2025, SNDL Inc. (SNDL) had total assets of $1.34B including $450.1M in current assets.
SNDL Inc. (SNDL) carries total debt of $170.1M, offset by $273.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
SNDL Inc. (SNDL) has total shareholders' equity (book value) of $1.10B ($4.27 book value per share). Book value represents the net worth of the company belonging to common stock holders.
SNDL Inc. (SNDL) reported a current ratio of 4.88x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.