Revenue growth reached 13.2% in 2025Q4, yet structural margin constraints persist with gross margins remaining limited to 13.6%.
| Metric | Jan'26 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 817.72M | 723.73M | 626.73M | 591.39M | 496.45M | 789.21M | 721.6M | 1.26B | 1.28B | 1.35B | 1.15B | 1.24B | 1.18B | 1.09B | 1.08B | 898.93M | 989.13M | 1.06B | 804.49M | 598.03M | 426.1M | 306.25M | 199.1M | 120.9M | 89.88M | 67.78M | 32.7M | 14.3M | 11.8M | 11.7M |
| Revenue Growth % | 12.99% | 15.48% | 5.97% | 19.12% | -37.09% | 9.37% | -42.77% | -1.46% | -4.99% | 17.6% | -7.84% | 5.13% | 8.33% | 0.83% | 20.37% | -9.12% | -6.26% | 31.16% | 34.52% | 40.35% | 39.13% | 53.82% | 64.68% | 34.52% | 32.6% | 107.3% | 128.65% | 21.19% | 0.85% | 46.25% |
| Cost of Goods Sold | 701.77M | 627.42M | 540.73M | 493.26M | 415.31M | 680.14M | 656.09M | 1.14B | 1.13B | 1.22B | 1.03B | 1.1B | 1.05B | 957.33M | 950.35M | 754.49M | 840.26M | 899.08M | 676.36M | 496.29M | 354.6M | 247.81M | 163.42M | 101.43M | 77.5M | 56.23M | 27.12M | 10.8M | 8.9M | 8.9M |
| COGS % of Revenue | 85.82% | 86.69% | 86.28% | 83.41% | 83.66% | 86.18% | 90.92% | 90.21% | 88.66% | 90.65% | 90.36% | 88.47% | 88.9% | 87.74% | 87.83% | 83.93% | 84.95% | 85.21% | 84.07% | 82.99% | 83.22% | 80.92% | 82.08% | 83.9% | 86.23% | 82.96% | 82.93% | 75.52% | 75.42% | 76.07% |
| Gross Profit | 115.95M | 96.3M | 86M | 98.14M | 81.14M | 109.08M | 65.5M | 123.47M | 145.09M | 125.95M | 110.36M | 143.29M | 131.25M | 133.74M | 131.73M | 144.44M | 148.87M | 156.09M | 128.13M | 101.73M | 71.5M | 58.44M | 35.68M | 19.47M | 12.38M | 11.55M | 5.58M | 3.5M | 2.9M | 2.8M |
| Gross Margin % | 14.18% | 13.31% | 13.72% | 16.59% | 16.34% | 13.82% | 9.08% | 9.79% | 11.34% | 9.35% | 9.64% | 11.53% | 11.1% | 12.26% | 12.17% | 16.07% | 15.05% | 14.79% | 15.93% | 17.01% | 16.78% | 19.08% | 17.92% | 16.1% | 13.77% | 17.04% | 17.07% | 24.48% | 24.58% | 23.93% |
| Gross Profit Growth % | 20.4% | 11.98% | -12.37% | 20.94% | -25.61% | 66.52% | -46.95% | -14.9% | 15.19% | 14.13% | -22.98% | 9.18% | -1.86% | 1.52% | -8.8% | -2.97% | -4.63% | 21.82% | 25.95% | 42.29% | 22.35% | 63.8% | 83.27% | 57.26% | 7.19% | 106.97% | 59.43% | 20.69% | 3.57% | 21.74% |
| Operating Expenses | 70.99M | 80.71M | 81M | 81.8M | 72.9M | 120.16M | 48.92M | 119.29M | 138.7M | 109.96M | 90.7M | 98.86M | 93.77M | 87.81M | 102.69M | 103.07M | 137.55M | 151.05M | 123.84M | 78.25M | 56.29M | 43.24M | 325.79M | 14.28M | 11.15M | 8.99M | 4.43M | 2.9M | 2.8M | 2.9M |
| OpEx % of Revenue | 8.68% | 11.15% | 12.92% | 13.83% | 14.68% | 15.23% | 6.78% | 9.46% | 10.84% | 8.17% | 7.92% | 7.96% | 7.93% | 8.05% | 9.49% | 11.47% | 13.91% | 14.32% | 15.39% | 13.08% | 13.21% | 14.12% | 163.63% | 11.81% | 12.4% | 13.26% | 13.54% | 20.28% | 23.73% | 24.79% |
| Selling, General & Admin | 70.99M | 79.41M | 78.65M | 78.47M | 64.78M | 89.46M | 80.6M | 108.25M | 127.51M | 98.68M | 85.75M | 94.61M | 89.04M | 82.88M | 92.08M | 100.04M | 130.33M | 138.85M | 118.81M | 75.39M | 56.29M | 43.24M | 25.79M | 14.28M | 10.67M | 7.05M | 3.43M | 2.2M | 2.1M | 2.2M |
| SG&A % of Revenue | 8.68% | 10.97% | 12.55% | 13.27% | 13.05% | 11.34% | 11.17% | 8.59% | 9.96% | 7.33% | 7.49% | 7.61% | 7.53% | 7.6% | 8.51% | 11.13% | 13.18% | 13.16% | 14.77% | 12.61% | 13.21% | 14.12% | 12.95% | 11.81% | 11.88% | 10.4% | 10.5% | 15.38% | 17.8% | 18.8% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 233K | 7.77M | 539K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 476K | 133.36K | 254K | 200K | 200K | 200K |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | 0.02% | 0.68% | 0.04% | - | - | - | - | - | - | - | - | - | - | - | - | 0.53% | 0.2% | 0.78% | 1.4% | 1.69% | 1.71% |
| Other Operating Expenses | 0 | 1.31M | 2.35M | 3.33M | 8.13M | 30.7M | -31.68M | -2.83M | -23.66M | -28.29M | -12.15M | -2.49M | -7.05M | -2.19M | 10.61M | 3.02M | 7.22M | 12.2M | 5.03M | 2.86M | 0 | 0 | 300M | 0 | -1K | 1.81M | 740K | 500K | 500K | 500K |
| Operating Income | 43.77M | 15.59M | 5M | 16.34M | 8.24M | -11.09M | 16.58M | 1.95M | 6.38M | 15.76M | 11.89M | 43.89M | 37.48M | 45.93M | 29.04M | 28.78M | 2.48M | 5.05M | 4.47M | 23.48M | 15.21M | 15.2M | 9.89M | 5.19M | 1.23M | 2.56M | 1.15M | 600K | 100K | -100K |
| Operating Margin % | 5.35% | 2.15% | 0.8% | 2.76% | 1.66% | -1.4% | 2.3% | 0.15% | 0.5% | 1.17% | 1.04% | 3.53% | 3.17% | 4.21% | 2.68% | 3.2% | 0.25% | 0.48% | 0.56% | 3.93% | 3.57% | 4.96% | 4.97% | 4.29% | 1.37% | 3.77% | 3.53% | 4.2% | 0.85% | -0.85% |
| Operating Income Growth % | 180.74% | 211.99% | -69.42% | 98.29% | 174.34% | -166.84% | 749.59% | -69.43% | -59.48% | 32.51% | -72.91% | 17.12% | -18.4% | 58.13% | 0.92% | 1062.28% | -50.93% | 12.76% | -80.94% | 54.43% | 0.06% | 53.67% | 90.71% | 321.28% | -51.89% | 121.71% | 92.33% | 500% | 200% | -114.29% |
| EBITDA | 83.3M | 52.09M | 36.04M | 39.39M | 26.87M | 19.22M | 45.85M | 34.74M | 39.21M | 49.91M | 32.9M | 65.74M | 59.87M | 66.15M | 48.49M | 46.64M | 24M | 24.41M | 19.53M | 35.19M | 23.35M | 22.32M | 15.37M | 9.32M | 4.94M | 4.37M | 1.89M | 1.1M | 600K | 400K |
| EBITDA Margin % | 10.19% | 7.2% | 5.75% | 6.66% | 5.41% | 2.44% | 6.35% | 2.76% | 3.06% | 3.71% | 2.87% | 5.29% | 5.07% | 6.06% | 4.48% | 5.19% | 2.43% | 2.31% | 2.43% | 5.88% | 5.48% | 7.29% | 7.72% | 7.71% | 5.5% | 6.44% | 5.79% | 7.69% | 5.08% | 3.42% |
| EBITDA Growth % | 59.93% | 44.54% | -8.51% | 46.6% | 39.77% | -58.07% | 31.98% | -11.4% | -21.43% | 51.7% | -49.96% | 9.8% | -9.49% | 36.42% | 3.98% | 94.36% | -1.7% | 24.97% | -44.48% | 50.7% | 4.62% | 45.16% | 65.03% | 88.62% | 13.08% | 130.6% | 72.18% | 83.33% | 50% | -55.56% |
| D&A (Non-Cash Add-back) | 39.53M | 36.5M | 31.04M | 23.05M | 18.63M | 30.31M | 29.27M | 32.79M | 32.82M | 34.15M | 21.01M | 21.85M | 22.4M | 20.23M | 19.45M | 17.86M | 21.52M | 19.36M | 15.06M | 11.7M | 8.14M | 7.12M | 5.48M | 4.13M | 3.71M | 1.81M | 740K | 500K | 500K | 500K |
| EBIT | 43.77M | 16.3M | 2.51M | 15.07M | 7.15M | -23.23M | 14.77M | -110.17M | -140.63M | -42.27M | 3.33M | 23.45M | 7.17M | 45.05M | 36.85M | 28.98M | 1.29M | 5.05M | 4.29M | 23.48M | 15.21M | 15.2M | 10.25M | 5.19M | 1.23M | 2.08M | 1.28M | 680.77K | 0 | -100K |
| Net Interest Income | -21.08M | -24.91M | -25.32M | -13.16M | -8.77M | -30.04M | -32.77M | -34.41M | -32.5M | -43.27M | -15.67M | -7.76M | -7.86M | -9.33M | -8.84M | -9.75M | -13.84M | -14.28M | -8.82M | -7.02M | -3.42M | 716K | -1.41M | -1.2M | -1.22M | -702.14K | 0 | -100K | 0 | -200K |
| Interest Income | 3.13M | 2.31M | 495K | 334K | 269K | 852K | 906K | 285K | 0 | 0 | 0 | 149K | 186K | 269K | 0 | 201K | 372K | 0 | 0 | 0 | 0 | 2.15M | 531K | 218K | 531K | 268.05K | 0 | 0 | 0 | 0 |
| Interest Expense | 24.21M | 27.22M | 25.82M | 13.49M | 9.04M | 30.89M | 33.67M | 34.69M | 32.5M | 43.27M | 15.67M | 7.91M | 8.05M | 9.6M | 8.84M | 9.95M | 14.03M | 14.28M | 8.82M | 7.02M | 3.42M | 1.44M | 1.94M | 1.41M | 1.75M | 970.19K | 0 | 100K | 0 | 200K |
| Other Income/Expense | 0 | -25.59M | -26.91M | -13.16M | -7.55M | -38.96M | -32.77M | -5.38M | -35.83M | -23.8M | -3.39M | -28.38M | 7.78M | -6.55M | -17.34M | -3.65M | -14.03M | -14.28M | -9.13M | -8.35M | 1.5M | -969K | 77K | -1.02M | -1.06M | -985.51K | -542.59K | 100K | 0 | 100K |
| Pretax Income | 16.46M | -10M | -21.91M | 3.19M | 689K | -50.04M | -16.18M | -114.52M | -170.4M | -74.36M | -6.52M | 15.53M | -874K | 35.45M | 19.26M | 19.03M | -11.55M | -9.23M | -4.65M | 15.13M | 16.7M | 14.23M | 9.56M | 4.17M | 165K | 1.67M | 741K | 700K | 300K | 0 |
| Pretax Margin % | 2.01% | -1.38% | -3.5% | 0.54% | 0.14% | -6.34% | -2.24% | -9.08% | -13.32% | -5.52% | -0.57% | 1.25% | -0.07% | 3.25% | 1.78% | 2.12% | -1.17% | -0.88% | -0.58% | 2.53% | 3.92% | 4.65% | 4.8% | 3.45% | 0.18% | 2.47% | 2.27% | 4.9% | 2.54% | - |
| Income Tax | 691K | 1.47M | 3.27M | 896K | -4.85M | -7.65M | -3.1M | -5.38M | -35.83M | -23.8M | -3.39M | 8.9M | 7.78M | 10.93M | 8.05M | 5.46M | -1.76M | 790K | -6.1M | 3.13M | 2.57M | 3.14M | 859K | 401K | 146K | -578.78K | -312K | 100K | 0 | 100K |
| Effective Tax Rate % | 4.2% | -14.69% | -14.92% | 28.13% | -704.5% | 15.29% | 19.16% | 4.7% | 21.03% | 32% | 51.98% | 57.31% | -890.16% | 30.85% | 41.79% | 28.71% | 15.25% | -8.55% | 131.18% | 20.68% | 15.36% | 22.06% | 8.99% | 9.62% | 88.48% | -34.64% | -42.11% | 14.29% | 0% | - |
| Net Income | 15.77M | -17.39M | -178.79M | -6.43M | -1.17M | 82.43M | -758K | -109.2M | -135.32M | -51.19M | -22.47M | 13.1M | -8.52M | 24.22M | 5.3M | 61.07M | -6.76M | -10.94M | 407K | 10.96M | 13.56M | 11.02M | 8.7M | 3.77M | 19K | 2.25M | 1.05M | 500K | 100K | -200K |
| Net Margin % | 1.93% | -2.4% | -28.53% | -1.09% | -0.24% | 10.44% | -0.1% | -8.66% | -10.58% | -3.8% | -1.96% | 1.05% | -0.72% | 2.22% | 0.49% | 6.79% | -0.68% | -1.04% | 0.05% | 1.83% | 3.18% | 3.6% | 4.37% | 3.12% | 0.02% | 3.32% | 3.22% | 3.5% | 0.85% | -1.71% |
| Net Income Growth % | 190.66% | 90.27% | -2679.25% | -448.89% | -101.42% | 10974.41% | 99.31% | 19.3% | -164.36% | -127.8% | -271.52% | 253.7% | -135.19% | 357.4% | -91.33% | 1002.94% | 38.16% | -2786.98% | -96.29% | -19.17% | 23.08% | 26.66% | 130.93% | 19721.05% | -99.16% | 113.65% | 110.6% | 400% | 150% | -122.22% |
| Net Income (Continuing) | 15.77M | -11.47M | -25.18M | 2.29M | 5.54M | -42.39M | -13.08M | -109.14M | -134.57M | -50.56M | -3.13M | 19.49M | -8.58M | 24.51M | 17.87M | 13.57M | -9.52M | -10.03M | 1.45M | 10.96M | 13.56M | 11.02M | 8.97M | 3.77M | 19K | 2.12M | 1.05M | 500K | 100K | -200K |
| Discontinued Operations | 0 | -5.92M | -153.61M | -8.72M | -6.71M | 124.82M | 12.32M | 0 | 0 | 0 | 0 | -4.91M | 0 | -3.05M | 0 | 4.44M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 15.05M | 0 | 0 | 0 | 0 | 1.89M | 1.5M | 1.57M | 2.73M | 5.14M | 12.64M | 17.31M | 17.38M | 15.82M | 14.19M | 13.66M | 15.1M | 13.86M | 10.23M | 9.12M | 1.38M | 0 | 0 | 129K | 308.06K | 420K | 500K | 600K | 700K |
| EPS (Diluted) | 0.13 | -0.15 | -1.55 | -0.07 | -0.05 | -0.50 | -0.01 | -1.25 | -1.57 | -0.60 | -0.31 | 0.19 | -0.13 | 0.36 | 0.08 | 0.92 | -0.10 | -0.17 | 0.01 | 0.19 | 0.24 | 0.20 | 0.18 | 0.09 | -0.01 | 0.08 | 0.09 | 0.04 | 0.01 | -0.02 |
| EPS Growth % | 186.67% | 90.32% | -2000.27% | -43.02% | 89.68% | - | 99.45% | 20.38% | -161.67% | -93.55% | -263.16% | 246.15% | -136.11% | 350% | -91.3% | 1020% | 41.18% | -1800% | -94.74% | -20.83% | 20% | 11.11% | 100% | 1000% | -112.5% | -11.11% | 125% | 300% | 150% | -125% |
| EPS (Basic) | 0.13 | -0.15 | -1.55 | -0.01 | -0.05 | -0.50 | -0.01 | -1.25 | -1.57 | -0.60 | -0.31 | 0.20 | -0.13 | 0.37 | 0.08 | 0.94 | -0.10 | -0.17 | 0.01 | 0.19 | 0.24 | 0.20 | 0.19 | 0.09 | -0.01 | 0.08 | 0.09 | 0.04 | 0.01 | -0.01 |
| Diluted Shares Outstanding | 124.78M | 116.62M | 114.23M | 107.66M | 104.1M | 89.23M | 87.79M | 87.08M | 86.36M | 85.57M | 72.41M | 68.37M | 67.83M | 66.61M | 66.58M | 66.03M | 64.77M | 64.26M | 62.78M | 57.68M | 56.49M | 55.08M | 49.81M | 41.84M | 41.08M | 26.48M | 15M | 12.5M | 14.43M | 14.19M |
| Basic Shares Outstanding | 117.97M | 116.62M | 114.23M | 107.66M | 104.1M | 89.23M | 87.79M | 87.08M | 86.22M | 85.57M | 72.41M | 66.83M | 66.29M | 65.9M | 65.64M | 65.18M | 64.77M | 64.26M | 62.78M | 57.68M | 56.49M | 55.08M | 47.19M | 41.84M | 41.08M | 26.48M | 15M | 12.5M | 14.43M | 14.19M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Liquidity and input volatility
According to the most recent quarterly filings, SunOpta achieved a 13.2% year-over-year revenue increase in 2025Q4, signaling that the company's strategic pivot toward high-growth plant-based beverage categories is successfully capturing market share despite the broader volatility inherent in the packaged food manufacturing sector.
The consistent revenue expansion suggests that the company's aseptic processing capacity is effectively meeting demand from private label partners. Investors should monitor whether this growth trajectory remains durable as the company laps the divestiture of its lower-margin fruit-based business units.
Based on reported financial statements, SunOpta's gross margin hovered at 13.6% in 2025Q4, reflecting the inherent difficulty of scaling low-acid beverage manufacturing while managing the pass-through costs of volatile agricultural commodities like oats and almonds in a highly competitive private label environment.
The inability to consistently expand gross margins beyond the mid-teens suggests that the company lacks significant pricing power relative to branded competitors. This structural limitation implies that profitability gains must come from operational efficiency and plant utilization rather than premium product positioning.
As indicated by the income statement data, operating income reached $12.5 million in 2025Q4, demonstrating that the company is beginning to realize the benefits of fixed-cost absorption as new manufacturing capacity in Midlothian, Texas, reaches higher utilization levels compared to previous fiscal periods.
The scaling of operating income relative to gross profit suggests that the company is finally moving past the heavy investment phase of its capital-intensive expansion. However, the sensitivity of these margins to minor fluctuations in SG&A expenses warrants further investigation into the company's long-term overhead discipline.
Data from recent quarterly reports reveals that net income remains inconsistent, with 2025Q4 earnings of $5.8 million appearing heavily influenced by non-operating items and stock-based compensation adjustments that complicate the assessment of the company's true underlying profitability and sustainable earnings power for shareholders.
The wide variance in net income, ranging from significant losses in 2023 to recent profitability, suggests that the bottom line is susceptible to restructuring charges and portfolio optimization costs. Analysts should focus on adjusted EBITDA metrics to better understand the core operational health of the business.
As reported in the latest financial disclosures, the company's cash position of only $169,000 presents a significant risk, suggesting that SunOpta operates with an extremely thin margin for error regarding working capital management and its reliance on revolving credit facilities for daily operational liquidity.
This precarious cash position may force management to prioritize debt service over necessary reinvestment, potentially stalling the growth momentum observed in recent quarters. Investors should monitor whether this liquidity constraint limits the company's ability to navigate future commodity price spikes or unexpected supply chain disruptions.
Quick answers to the most common questions about buying STKL stock.
For fiscal year 2025, SunOpta Inc. (STKL) reported total revenue of $817.7M. This represents a 6889.0% increase compared to $11.7M in 1996.
SunOpta Inc. (STKL) is profitable, generating $15.8M in net income for the fiscal year ending 2025 with a net profit margin of 1.9%.
SunOpta Inc. (STKL) reported an operating income of $43.8M, resulting in an operating profit margin of 5.4%. This margin reflects the operational efficiency of the business before interest and taxes.
SunOpta Inc. (STKL) generated $115.9M in gross profit for the year, representing a gross profit margin of 14.2%. This demonstrates the company's core pricing power and production efficiency.