Sndl (SNDL) Net Margin (2019 - 2026)
Sndl (SNDL) recorded Net Margin of -21.34% in Q3 2026, down 15.89 percentage points from -5.45% a year earlier and down 18.02 percentage points from the prior quarter.
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Analysis
Sndl (SNDL) Net Margin (2019 - 2026) Analysis & Trends
On a TTM basis, Sndl's Net Margin came in at -6.02% as of Sep 30, 2026, up 4.83 percentage points year-over-year; for FY2025, it was -1.57%, up 8.15 percentage points from FY2024.
- Annual Net Margin has increased for four straight years, with a five-year change of +316.54 percentage points (FY2020 to FY2025).
- Across earlier years, Net Margin came in at -9.72% in FY2024 (+8.31 pp), -18.03% in FY2023 (+27.90 pp), -45.93% in FY2022 (+291.45 pp) and -337.38% in FY2021 (-19.26 pp).
- The Q3 2026 figure is the lowest quarterly Net Margin since Q4 2024.
- On a year-over-year basis, Net Margin rose in five of the last eight quarters, with an average year-over-year change of +5.01 percentage points.
- Peak year-over-year performance for Net Margin in the last five years was a gain of 955.84 percentage points in Q1 2022, against a drop of 139.08 percentage points in Q3 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at -3.32% (Q2 2026), -5.06% (Q1 2026) and 3.03% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.85 Bn | 281.83 Bn | 7.85 Bn | 28.96% |
| 2 | British American Tobacco p.l.c | 140.62 Bn | 117.27 Bn | - | - |
| 3 | Altria | 126.99 Bn | 113.97 Bn | 3.94 Bn | 41.06% |
| 4 | RLX Technology | 2.37 Bn | -1.38 Bn | 52.74 Mn | 4.33% |
| 5 | Curaleaf Holdings | 2.36 Bn | 1.98 Bn | 170.48 Mn | -9.28% |
| 6 | Verano Holdings | 2.05 Bn | 1.71 Bn | 100.04 Mn | -1.91% |
| 7 | Trulieve Cannabis | 1.89 Bn | 629.78 Mn | 148.02 Mn | 0.38% |
| 8 | Green Thumb Industries | 1.59 Bn | 362.48 Mn | 146.79 Mn | -1.49% |
| 9 | Cronos | 1.25 Bn | -1.89 Bn | 32.28 Mn | 16.45% |
| 10 | Sndl | 366.07 Mn | -193.98 Mn | 41.35 Mn | -21.34% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -21.34% |
| Jun 30, 2026 | -3.32% |
| Mar 31, 2026 | -5.06% |
| Dec 31, 2025 | 6.29% |
| Sep 30, 2025 | -5.45% |
| Jun 30, 2025 | 1.18% |
| Mar 31, 2025 | -7.18% |
| Dec 31, 2024 | -43.58% |
| Sep 30, 2024 | -8.16% |
| Jun 30, 2024 | -2.53% |
| Mar 31, 2024 | -1.29% |
| Dec 31, 2023 | -54.75% |
| Sep 30, 2023 | -9.17% |
| Jun 30, 2023 | -12.66% |
| Mar 31, 2023 | -17.90% |
| Dec 31, 2022 | -50.96% |
| Sep 30, 2022 | -41.72% |
| Jun 30, 2022 | -32.21% |
| Mar 31, 2022 | -188.32% |
| Dec 31, 2021 | -3.99% |
API Access
Sndl Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=SNDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "SNDL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=SNDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();