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SNDL Valuation Multiples

Discover revenue and EBITDA valuation multiples for SNDL and similar public comparables like Heineken, Endeavour Group, and Treasury Wine Estates.

SNDL Overview

About SNDL

SNDL Inc is a private-sector liquor and cannabis retailer in Canada with retail banners that include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, and Spiritleaf. The principal activities of the company are the retailing of wines, beers, and spirits. It comprised four reportable segments: liquor retail, cannabis retail, cannabis operations, and investments. Liquor retail includes the sale of wines, beers, and spirits through owned liquor stores. The company generates maximum revenue from liquor retail.


Founded

2006

HQ

United States of America
Employees

2.6K+

Website

sndl.com

Financials

LTM Revenue $477M

LTM EBITDA $4.1M

EV

$270M

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SNDL Financials

SNDL has a last 12-month revenue (LTM) of $477M and a last 12-month EBITDA of $4.1M.

In the most recent fiscal year, SNDL achieved revenue of $920M and an EBITDA of -$41.2M.

SNDL expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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SNDL P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $477M XXX $920M XXX XXX XXX
Gross Profit $127M XXX $240M XXX XXX XXX
Gross Margin 27% XXX 26% XXX XXX XXX
EBITDA $4.1M XXX -$41.2M XXX XXX XXX
EBITDA Margin 1% XXX -4% XXX XXX XXX
EBIT -$25.8M XXX -$33.5M XXX XXX XXX
EBIT Margin -5% XXX -4% XXX XXX XXX
Net Profit -$29.2M XXX -$94.8M XXX XXX XXX
Net Margin -6% XXX -10% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

SNDL Stock Performance

As of May 30, 2025, SNDL's stock price is $1.

SNDL has current market cap of $325M, and EV of $270M.

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SNDL Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$270M $325M XXX XXX XXX XXX $-0.15

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SNDL Valuation Multiples

As of May 30, 2025, SNDL has market cap of $325M and EV of $270M.

SNDL's trades at 0.3x EV/Revenue multiple, and -6.6x EV/EBITDA.

Equity research analysts estimate SNDL's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

SNDL has a P/E ratio of -8.1x.

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SNDL Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $325M XXX $325M XXX XXX XXX
EV (current) $270M XXX $270M XXX XXX XXX
EV/Revenue 0.4x XXX 0.3x XXX XXX XXX
EV/EBITDA 47.3x XXX -6.6x XXX XXX XXX
EV/EBIT -7.6x XXX -8.1x XXX XXX XXX
EV/Gross Profit 1.5x XXX n/a XXX XXX XXX
P/E -8.1x XXX -3.4x XXX XXX XXX
EV/FCF -20.5x XXX 6.2x XXX XXX XXX

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SNDL Margins & Growth Rates

SNDL's last 12 month revenue growth is 6%

SNDL's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.

SNDL's rule of 40 is -5% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

SNDL's rule of X is 15% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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SNDL Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 6% XXX -12% XXX XXX XXX
EBITDA Margin 1% XXX -4% XXX XXX XXX
EBITDA Growth 116% XXX n/a XXX XXX XXX
Rule of 40 -5% XXX 1% XXX XXX XXX
Bessemer Rule of X XXX XXX 15% XXX XXX XXX
Revenue per Employee XXX XXX $0.4M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 1% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 0% XXX XXX XXX
Opex to Revenue XXX XXX 30% XXX XXX XXX

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SNDL Public Comps

See public comps and valuation multiples for Alcohol and Cannabis comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Heineken XXX XXX XXX XXX XXX XXX
Endeavour Group XXX XXX XXX XXX XXX XXX
Treasury Wine Estates XXX XXX XXX XXX XXX XXX
Domain Costa Lazaridi XXX XXX XXX XXX XXX XXX
United Spirits XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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SNDL M&A and Investment Activity

SNDL acquired  XXX companies to date.

Last acquisition by SNDL was  XXXXXXXX, XXXXX XXXXX XXXXXX . SNDL acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by SNDL

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About SNDL

When was SNDL founded? SNDL was founded in 2006.
Where is SNDL headquartered? SNDL is headquartered in United States of America.
How many employees does SNDL have? As of today, SNDL has 2.6K+ employees.
Who is the CEO of SNDL? SNDL's CEO is Mr. Zachary R. George.
Is SNDL publicy listed? Yes, SNDL is a public company listed on NAS.
What is the stock symbol of SNDL? SNDL trades under SNDL ticker.
When did SNDL go public? SNDL went public in 2019.
Who are competitors of SNDL? Similar companies to SNDL include e.g. Heineken, Endeavour Group, Treasury Wine Estates, Domain Costa Lazaridi.
What is the current market cap of SNDL? SNDL's current market cap is $325M
What is the current revenue of SNDL? SNDL's last 12 months revenue is $477M.
What is the current revenue growth of SNDL? SNDL revenue growth (NTM/LTM) is 6%.
What is the current EV/Revenue multiple of SNDL? Current revenue multiple of SNDL is 0.4x.
Is SNDL profitable? Yes, SNDL is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of SNDL? SNDL's last 12 months EBITDA is $4.1M.
What is SNDL's EBITDA margin? SNDL's last 12 months EBITDA margin is 1%.
What is the current EV/EBITDA multiple of SNDL? Current EBITDA multiple of SNDL is 47.3x.
What is the current FCF of SNDL? SNDL's last 12 months FCF is -$9.5M.
What is SNDL's FCF margin? SNDL's last 12 months FCF margin is -2%.
What is the current EV/FCF multiple of SNDL? Current FCF multiple of SNDL is -20.5x.

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