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Produces and sells cannabis products in Canada and internationally under brands like Spinach and PEACE NATURALS.
Produces and sells cannabis products in Canada and internationally under brands like Spinach and PEACE NATURALS.
Canadian sales go to provincial wholesalers, which supply licensed shops, so the company sets wholesale prices but not shelf prices. Medical cannabis is exported to markets such as Israel and Germany. Altria, the tobacco company, is the largest shareholder; this Toronto line trades the same company as the US-listed shares.
Moat: none (brand). Recognizable recreational brand in a commoditized, oversupplied Canadian cannabis market.
Headquarters: Toronto, Canada · Employees: 610
Size Cronos (CRON.TO) is a Canada Health Care company (Pharmaceuticals: Other) with a market value of $1.34B, the 217th largest of 420 Canada companies the cockpit tracks. Shares closed at C$5.10 on 6 Nov 2026.
Performance Over six months the shares gained 44.9%, against -9.0% for the median peer and +5.2% for the Canada market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 36.2% over the last twelve months (peer median +9.6%); the operating margin is -2.2% (peer median 15.6%).
Valuation It trades at 15.6× forward earnings against a peer median of 21.2× (7th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +27%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.8 points below its cost of capital (10.0% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$248M | C$205M | C$161M | C$118M | C$113M |
| Revenue growth | — | +27% | +37% | +4% | — |
| Gross profit | C$111M | C$84.7M | C$29.5M | C$9.27M | C$12.3M |
| EBITDA | C$14.3M | -C$4.61M | -C$67.4M | -C$97.2M | -C$119M |
| Net income | C$96.5M | -C$13.2M | C$56.3M | -C$99.7M | -C$219M |
| Free cash flow | C$69.2M | C$208,200 | C$8.81M | -C$59.0M | -C$120M |
| Capital expenditure | C$14.5M | C$36.4M | C$18.0M | C$4.62M | C$6.55M |
| Total debt | C$1.84M | C$2.07M | C$2.90M | C$3.37M | C$5.25M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Cronos CRON.TO | $1.34B | +45% | +36% | -2% | 15.6× | 2.1% |
| Canopy Growth WEED.TO | $293M | -41% | +7% | -25% | n/a | n/a |
| Tilray Brands TLRY.TO | $433M | -47% | +17% | -6% | n/a | n/a |
| Village Farms International VFF | $352M | +12% | -24% | 16% | 14.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CRON.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.4% | +0.3% | 5th highest of 21 |
| 6-month return | +44.9% | -9.0% | 3rd highest of 21 |
| Distance from 52-week high | -6.8% | -24.2% | 4th highest of 21 |
| Revenue growth (TTM) | +36.2% | +9.6% | 2nd highest of 21 |
| Operating margin | -2.2% | 15.6% | lowest of 20 |
| Forward P/E | 15.6× | 21.2× | 7th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 2.1% | 2.4% | 9th least demanding of 17 |
| Growth delivered (Del g) | +26.7% | +10.5% | 3rd highest of 17 |
| Hurdle (Req g minus delivered) | -24.6 pp | -8.4 pp | 3rd least demanding of 17 |
| ROIC minus cost of capital | -10.8 pp | +2.8 pp | lowest of 20 |
| EV / EBITDA | 57.2× | 16.1× | most expensive of 11 |
| Net debt / EBITDA | -78.9× | -0.1× | least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cronos CRON.TO | Canada | $1.34B | +45% | +36% | -2% | 15.6× | 2.1% | +26.7% |
| Jamieson Wellness JWEL.TO | Canada | $1.35B | +35% | +15% | 15% | 21.2× | 11.0% | +15.3% |
| Pharma Mar PHM.MC | Spain | $1.30B | -33% | +32% | 19% | 37.7× | 11.4% | -3.9% |
| Sudeep Pharma SUDEEPPHRM.NS | India | $1.41B | +75% | +27% | 33% | 67.7× | n/a | n/a |
| BioGaia BIOG-B.ST | Sweden | $1.26B | -7% | +13% | 28% | 30.1× | 0.9% | +15.5% |
| HBM 2142.HK | Hong Kong | $1.18B | -23% | +55% | 44% | 12.4× | 14.1% | +62.3% |
| Guilin Sanjin Pharmaceutical 002275.SZ | China | $1.53B | +27% | -3% | 24% | 18.6× | -2.2% | +5.5% |
| Bora Pharmaceuticals 6472.TW | Taiwan | $1.55B | -2% | -6% | 15% | 14.2× | 4.5% | +60.2% |
| Zhejiang Medicine 600216.SS | China | $1.61B | -23% | -6% | 7% | 11.3× | -6.7% | +3.9% |
| Shandong Xinhua Pharmaceutical 0719.HK | Hong Kong | $1.09B | -11% | -1% | 4% | 6.8× | -2.0% | +7.1% |
| Tibet Cheezheng Tibetan Medicine 002287.SZ | China | $1.66B | -15% | -7% | 28% | n/a | -1.1% | +10.4% |
| Applied Nutrition APN.L | United Kingdom | $1.01B | +42% | +24% | n/a | 24.2× | n/a | n/a |
| New Journey Health Technology Group Co., Ltd.Class A 002219.SZ | China | $999M | -16% | -14% | 8% | 193.0× | n/a | n/a |
| Sihuan Pharmaceutical 0460.HK | Hong Kong | $952M | -35% | +30% | 15% | 9.7× | n/a | n/a |
| Porton Pharma Solutions 300363.SZ | China | $1.92B | +14% | +6% | -2% | n/a | 5.3% | +10.4% |
| TSI 603262.SS | China | $909M | -41% | +3% | 14% | 51.5× | 25.8% | +13.4% |
| China Meheco 600056.SS | China | $2.00B | -14% | +2% | 3% | n/a | -0.8% | -2.1% |
| Health and Happiness (H&H) International 1112.HK | Hong Kong | $2.05B | +70% | +24% | 16% | 12.6× | -3.0% | +4.4% |
| Granules India GRANULES.NS | India | $2.10B | +8% | +22% | 17% | 24.9× | 23.5% | +10.6% |
| China Resources Jiangzhong Pharmaceutical 600750.SS | China | $2.19B | -3% | -10% | 24% | 15.7× | -2.5% | +11.6% |
| PharmaNutra PHN.MI | Italy | $808M | -18% | +18% | 21% | 29.6× | 4.0% | +18.5% |