CRLBFOTCMedicinal Chemicals & Botanical ProductsFiscal year ends December 31
Cresco Labs Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Mar 6, 2026
$0.58−0.02 (-3.13%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
49.5%+6.1 pts over 5 years
Operating margin
-4.3%+0.7 pts over 5 years
Net margin
-20.6%+0.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -9.5% | -8.0% | +6.6% | – | |
| Gross profit | -10.9% | -7.3% | +9.4% | – | |
| Free cash flow | -66.6% | – | – | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -30.9% | -33.2% | |
| Return on assets | – | -11.0% | -10.6% | |
| Current ratio | 1.06 | 0.99 | 2.59 | |
| Debt to equity | 0.00 | 0.59 | 1.27 | |
| Net debt to EBITDA | 2.17× | 17.42× | 18.01× | |
| Interest coverage | -4.3× | -0.8× | -0.7× | |
| Inventory turnover | – | 4.6× | 3.6× | |
| Capex to revenue | 71.3% | 18.3% | 5.4% | |
| Diluted shares | 0M | 0M | 355M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Cresco Labs generated $297.16M from operations and spent $286.92M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$297.16M
Used
$286.92M
Capital expenditure$286.92M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-20.6%
×Asset turnover0.51×
×Equity multiplier3.13×
=Return on equity, FY2025-33.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -20.6% | 0.51× | 3.13× | -33.2% |
| FY2024 | -10.3% | 0.53× | 2.77× | -15.2% |
| FY2023 | -22.8% | 0.52× | 2.60× | -31.0% |
| FY2022 | -25.2% | 0.50× | 2.43× | -30.7% |
| FY2021 | -38.9% | 0.55× | 2.45× | -52.0% |
| FY2020 | -21.5% | 0.52× | 2.80× | -30.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$135.41M
- Cash generatingOperating cash flow above zero$72.89M
- Return on assets improvedROA up on the prior year-5.5% → -10.0%
- Earnings backed by cashOperating cash flow above net income$72.89M vs -$135.41M
- Less leverageLong-term debt to assets fell34.0% → 34.8%
- Better liquidityCurrent ratio rose3.12 → 2.59
- No dilutionShare count did not rise345M → 355M
- Gross margin improvedGross margin up on the prior year50.32% → 49.49%
- More efficientAsset turnover rose0.53 → 0.48