CWLXFOTCMedicinal Chemicals & Botanical ProductsFiscal year ends March 31
C21 Investments Inc.
Financials through fiscal 2026, year ended Mar 31, 2026Last filing: 20-F on Jun 12, 2026
Share price
Not available yet
Price, market cap and P/E appear here once daily prices are connected.
Margins
Share of revenue, fiscal years 2017 to 2026
Gross margin
41.7%+6.9 pts over 5 years
Operating margin
7.0%+10.1 pts over 5 years
Net margin
-9.9%
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | – | +4.1% | -0.5% | – | |
| Gross profit | – | +0.5% | -5.5% | – | |
| Operating income | – | -16.8% | -24.4% | – | |
| Free cash flow | – | -41.3% | -33.0% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | – | |
| Return on assets | – | – | – | |
| Current ratio | 0.01 | 0.30 | 1.30 | |
| Debt to equity | – | 0.05 | – | |
| Net debt to EBITDA | – | -0.65× | – | |
| Interest coverage | – | -0.3× | 12.2× | |
| Inventory turnover | – | 3.8× | – | |
| Capex to revenue | – | 1.4% | 0.8% | |
| Diluted shares | – | 77M | 118M |
Where the cash went
Fiscal 2021 to 2026, five years combined
C21 Investments generated $27.52M from operations and spent $4.10M on capital expenditure, dividends and share buybacks. 97% of that went back into the business.
Generated
$27.52M
Used
$4.10M
Capital expenditure$4.00M97%Dividends$00%Share buybacks$103.03K3%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-11.7%
×Asset turnover0.50×
×Equity multiplier1.73×
=Return on equity, FY2024-10.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | -11.7% | 0.50× | 1.73× | -10.1% |
| FY2023 | 1.0% | 0.48× | 1.77× | 0.9% |
| FY2022 | 30.2% | 0.51× | 2.26× | 34.9% |
| FY2021 | -23.4% | 0.52× | 3.48× | -42.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
2of 3 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero-$3.24M
- Cash generatingOperating cash flow above zero$1.36M
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net income$1.36M vs -$3.24M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → 1.30
- No dilutionShare count did not rise– → 118M
- Gross margin improvedGross margin up on the prior year– → 41.71%
- More efficientAsset turnover rose– → –