SNDL (SNDL)
Runs cannabis products, retail, liquor retail, and strategic investments.
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Cannabis brands, retail stores, liquor stores, manufacturing, and strategic investments make up the operating platform. Growth has come through acquisitions, while direct consolidation of Parallel's U.S. assets remains subject to legal, regulatory, accounting, and Nasdaq requirements.
Cannabis operations span branded products, manufacturing, and a retail network built through the Spiritleaf, Valens, Nova, and Indiva transactions. Brands include Top Leaf, Contraband, Palmetto, and Bhang Chocolate.
Liquor retail adds a distinct consumer channel alongside cannabis retail, while the investments segment deploys strategic capital through direct and indirect investments and partnerships across the North American cannabis industry.
Acquisitions have expanded the platform beyond its earlier cultivation business. The Parallel asset transaction provides indirect majority economic exposure to operations in Florida, Texas, and Massachusetts, but direct consolidation depends on legal, regulatory, accounting, and Nasdaq requirements.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 28, 2026 | Industrial Alliance Securities | Target | Target: — | Target: $3.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $132.6M · Total debt $118.2M · Total assets $912.4M · Shareholders' equity $755.9M
- Revenue
- $167.5M
- Operating income
- −$3.9M
- Net income
- −$5.6M
Reported in CAD, converted at the latest exchange rate
No dividends on record.
| Institutions | 18.67% | 49.18M ADS | |
|---|---|---|---|
| 115 holders · as of Jun 30, 2026 | |||
| Other | 81.33% | 214.18M ADS | |
| remainder | |||
263.36M ADS as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
ETF Managers Group LLCInstitution | 4.59% | 12.09M | filed Aug 25, 2022 |
Morgan StanleyInstitution | 3.88% | 10.21M ADS | as of Jun 30, 2026 |
Cannell Capital LLCInstitution | 3.28% | 8.64M ADS | as of Jun 30, 2026 |
Toroso Investments, LLCInstitution | 2.03% | 5.33M ADS | as of Jun 30, 2026 |
Arrowstreet Capital, Limited PartnershipInstitution | 0.90% | 2.36M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- High Tide
Canadian cannabis retail overlap through Canna Cabana
- Canopy Growth
Canadian adult-use cannabis brands and product formats
- Tilray Brands
Canadian cannabis brands and international medical cannabis
- Organigram Global
Canadian adult-use cannabis brands, cultivation, and processing
- Village Farms International
Canadian cannabis cultivation, brands, and export supply
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| SNDL | $1.40 | +1.98% | $356.6M | — | — | 0.5 | −7.6% |
| High Tide | $2.67 | +1.33% | $231.1M | — | 21.5 | 0.4 | +31.2% |
| Canopy Growth | $0.9510 | +2.94% | $390.0M | — | — | 1.7 | −20.8% |
| Tilray Brands | $4.20 | +2.96% | $456.3M | — | — | 0.4 | +25.5% |
| Organigram Global | $1.12 | 0.00% | $157.7M | 2.5 | 37.4 | 0.7 | +43.2% |
| Village Farms International | $3.05 | +5.73% | $350.8M | 15.3 | 15.3 | 1.5 | +6.8% |
| Median | 8.9 | 21.5 | 0.7 | +25.5% |