Cash flow Curaleaf Holdings, Inc.

Equities

CURA

CA23126M1023

Pharmaceuticals

Delayed Toronto S.E. Other stock markets 14:49:06 2024-09-09 EDT			5-day change	1st Jan Change
4.180 ^CAD	+9.42%		+3.98%	-24.14%

08-27	Pot stocks fall as US DEA pushes cannabis reclassification hearing to December	RE
08-20	Vital Farms Names Joe Holland as Chief Supply Chain Officer	MT

2ae45e5d157c75fa4241f3a94801.m4qgKnNO6lmHJxPBazkfmqt2Ea8Ac4-GK-dK3h0S7_I.7t_3QSckrA7_d3i1WW5q1ckQR5lyAML0W4xnu054i5vMwc96PHecYOtLcA

Published financial data: CURALEAF HOLDINGS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	221M	627M	1.21B	1.34B	1.35B
Total Revenues	221M	627M	1.21B	1.34B	1.35B
Cost of Goods Sold, Total	79.4M	236M	522M	757M	732M
Gross Profit	142M	391M	688M	579M	614M
Selling General & Admin Expenses, Total	98.23M	191M	370M	448M	415M
Stock-Based Compensation (IS)	16.61M	30.88M	45.63M	28.02M	20.01M
Depreciation & Amortization - (IS)	31.7M	68.68M	96.22M	116M	137M
Other Operating Expenses, Total	147M	291M	512M	591M	572M
Operating Income	-4.93M	99.76M	176M	-12.37M	42.88M
Interest Expense, Total	-24.75M	-69M	-90.26M	-93.33M	-100M
Interest And Investment Income	9.94M	6.48M	629K	137K	23K
Net Interest Expenses	-14.82M	-62.52M	-89.63M	-93.19M	-100M
Currency Exchange Gains (Loss)	-	-	-1.03M	-	-
Other Non Operating Income (Expenses)	267K	1.42M	853K	-8.01M	4.59M
EBT, Excl. Unusual Items	-19.48M	38.66M	85.83M	-114M	-52.89M
Restructuring Charges	-2.32M	-	-	-19.4M	-9.1M
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-3.18M	-92.63M	-50.7M
Gain (Loss) On Sale Of Investments	-	37.56M	-2.97M	21.95M	2.07M
Gain (Loss) On Sale Of Assets	118K	3.29M	-3.33M	-548K	-8.54M
Asset Writedown	-	-23.66M	-11.39M	-32.43M	-7.27M
Other Unusual Items	-24.11M	-33.81M	-152K	10.2M	2.06M
EBT, Incl. Unusual Items	-45.79M	22.04M	64.8M	-226M	-124M
Income Tax Expense	24.06M	83.37M	174M	151M	115M
Earnings From Continuing Operations	-69.85M	-61.33M	-109M	-377M	-239M
Earnings Of Discontinued Operations	-	-	-	-	-51.38M
Net Income to Company	-69.85M	-61.33M	-109M	-377M	-290M
Minority Interest	2.6M	-407K	7.4M	6.83M	9.14M
Net Income - (IS)	-67.24M	-61.74M	-102M	-370M	-281M
Net Income to Common Incl Extra Items	-67.24M	-61.74M	-102M	-370M	-281M
Net Income to Common Excl. Extra Items	-67.24M	-61.74M	-102M	-370M	-230M
Per Share Items
Net EPS - Basic	-0.15	-0.11	-0.15	-0.52	-0.39
Basic EPS - Continuing Operations	-0.15	-0.11	-0.15	-0.52	-0.32
Basic Weighted Average Shares Outstanding	463M	557M	699M	711M	724M
Net EPS - Diluted	-0.15	-0.11	-0.15	-0.52	-0.39
Diluted EPS - Continuing Operations	-0.15	-0.11	-0.15	-0.52	-0.32
Diluted Weighted Average Shares Outstanding	463M	557M	699M	711M	724M
Normalized Basic EPS	-0.02	0.04	0.09	-0.09	-0.03
Normalized Diluted EPS	-0.02	0.04	0.09	-0.09	-0.03
Supplemental Items
EBITDA	21.6M	165M	273M	151M	239M
EBITA	7.96M	145M	244M	80.23M	149M
EBIT	-4.93M	99.76M	176M	-12.37M	42.88M
EBITDAR	26.22M	178M	301M	203M	288M
Total Revenues (As Reported)	221M	627M	1.21B	1.34B	1.35B
Effective Tax Rate - (Ratio)	-52.54	378.22	268.42	-66.47	-92.14
Current Domestic Taxes	-	-	-	176M	144M
Current Foreign Taxes	-	-	-	-304K	123K
Total Current Taxes	17.1M	75.83M	155M	176M	144M
Deferred Domestic Taxes	-	-	-	-23.3M	-29.83M
Deferred Foreign Taxes	-	-	-	-2.39M	394K
Total Deferred Taxes	6.96M	7.54M	19.1M	-25.68M	-29.44M
Normalized Net Income	-9.57M	23.76M	61.04M	-64.15M	-23.91M
Interest on Long-Term Debt	23.4M	67.05M	87.9M	47.53M	56.52M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	11.3M	12M
Selling and Marketing Expenses	-	-	-	11.3M	12M
General and Administrative Expenses	-	-	-	-	-
Net Rental Expense, Total	4.61M	13.12M	27.96M	51.51M	48.98M
Imputed Operating Lease Interest Expense	6.47M	18.68M	30.33M	42.66M	35.03M
Imputed Operating Lease Depreciation	-1.86M	-5.55M	-2.37M	8.85M	13.95M
Stock-Based Comp., Other (Total)	16.61M	30.88M	45.63M	28.02M	20.01M
Total Stock-Based Compensation	16.61M	30.88M	45.63M	28.02M	20.01M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	42.31M	73.54M	299M	163M	91.82M
Total Cash And Short Term Investments	42.31M	73.54M	299M	163M	91.82M
Accounts Receivable, Total	18.34M	28.83M	58.78M	47.35M	53.28M
Other Receivables	-	-	5.79M	4.81M	2.38M
Notes Receivable	-	2.64M	2.32M	-	7.02M
Total Receivables	18.34M	31.48M	66.88M	52.16M	62.68M
Inventory	82.41M	244M	470M	251M	216M
Prepaid Expenses	6.48M	10.14M	35.67M	32.3M	30.4M
Other Current Assets, Total	-	58.5M	80.58M	107M	17.8M
Total Current Assets	150M	418M	952M	605M	419M
Gross Property Plant And Equipment	240M	544M	727M	1.08B	1.1B
Accumulated Depreciation	-28.71M	-35.26M	-62.59M	-179M	-265M
Net Property Plant And Equipment	211M	509M	665M	898M	833M
Long-term Investments	51.21M	16.26M	4.4M	2.8M	2.48M
Goodwill	69.33M	470M	605M	625M	627M
Other Intangibles, Total	187M	799M	1.01B	1.22B	1.17B
Loans Receivable Long-Term	57.17M	2M	842K	-	-
Deferred Tax Assets Long-Term	2.63M	5.53M	2.59M	1.56M	419K
Other Long-Term Assets, Total	8.82M	167M	22.05M	48.22M	42.74M
Total Assets	737M	2.39B	3.26B	3.4B	3.1B
Liabilities
Accounts Payable, Total	12.74M	47.04M	26.75M	85.26M	79.32M
Accrued Expenses, Total	18.02M	57.48M	87.58M	113M	101M
Current Portion of Long-Term Debt	17M	6.5M	1.97M	51.96M	39.48M
Current Portion of Leases	11.84M	15.71M	19.28M	30.7M	31.2M
Current Income Taxes Payable	15.11M	79.65M	140M	150M	198M
Other Current Liabilities	31.55M	13.75M	39.8M	61.05M	44.67M
Total Current Liabilities	106M	220M	315M	491M	494M
Long-Term Debt	87.95M	285M	434M	571M	548M
Long-Term Leases	81.32M	270M	298M	497M	479M
Deferred Tax Liability Non Current	22.64M	226M	299M	296M	297M
Other Non Current Liabilities	35.31M	8.29M	107M	142M	107M
Total Liabilities	333M	1.01B	1.45B	2B	1.93B
Common Stock, Total	694M	1.75B	2.23B	-	-
Additional Paid In Capital	-	-	-	2.16B	2.2B
Retained Earnings	-133M	-195M	-291M	-860M	-1.14B
Treasury Stock	-5.21M	-5.21M	-5.21M	-5.21M	-1.05M
Comprehensive Income and Other	-147M	-178M	-172M	-18.59M	-11.88M
Total Common Equity	409M	1.38B	1.76B	1.28B	1.05B
Minority Interest	-5.32M	-601K	51.23M	121M	121M
Total Equity	403M	1.38B	1.81B	1.4B	1.17B
Total Liabilities And Equity	737M	2.39B	3.26B	3.4B	3.1B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	470M	684M	709M	719M	737M
ECS Total Common Shares Outstanding	470M	664M	708M	717M	734M
Book Value / Share	0.87	2.07	2.48	1.78	1.43
Tangible Book Value	152M	108M	142M	-563M	-748M
Tangible Book Value Per Share	0.32	0.16	0.2	-0.78	-1.02
Total Debt	198M	578M	754M	1.15B	1.1B
Net Debt	156M	504M	454M	988M	1.01B
Debt Equivalent Oper. Leases	36.9M	105M	224M	412M	392M
Minority Interest, Total (Incl. Fin. Div)	-5.32M	-601K	51.23M	121M	121M
Account Code - Inventory Valuation	3	3	3	6	6
Inventories - Raw Materials, Total	41.32M	46.21M	78.6M	60.31M	52.12M
Inventories - Work In Process, Total	16.28M	-	-	116M	72.99M
Inventories - Finished Goods, Total	24.81M	-	-	74.32M	90.81M
Inventories - Others	-	198M	391M	-	-
Land - (BS)	487K	6.83M	-	12.07M	8.03M
Buildings, Total	87.56M	132M	-	457M	515M
Machinery, Total	37.53M	64.21M	-	190M	169M
Full Time Employees	-	-	-	5.93K	5.65K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	5.43M	13.2M	6.72M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-67.24M	-61.74M	-102M	-370M	-281M
Depreciation & Amortization - CF	23.91M	42.04M	63.11M	83.87M	106M
Amortization of Goodwill and Intangible Assets - (CF)	12.89M	45.42M	68.65M	92.6M	106M
Depreciation & Amortization, Total	36.8M	87.46M	132M	176M	212M
Amortization of Deferred Charges, Total - (CF)	1.54M	1.01M	882K	-	-
(Gain) Loss From Sale Of Asset	-118K	550K	3.33M	548K	8.54M
(Gain) Loss on Sale of Investments - (CF)	-	-37.57M	2.97M	-21.95M	-2.07M
Asset Writedown & Restructuring Costs	-	23.66M	14.57M	144M	67.08M
Stock-Based Compensation (CF)	16.61M	30.88M	45.63M	28.02M	20.01M
Provision and Write-off of Bad Debts	-	-	-	-	2.05M
Net Cash From Discontinued Operations	-	-	-	-	-15.98M
Other Operating Activities, Total	-11.92M	-60.49M	-42.71M	-21.26M	30.78M
Change In Accounts Receivable	-6.94M	5.96M	-29.4M	7.96M	-12.22M
Change In Inventories	-19.9M	-36.68M	-105M	31.24M	9.85M
Change In Accounts Payable	533K	9.96M	-10.3M	51.71M	2.23M
Change In Income Taxes	12.38M	57.75M	59.77M	-23.78M	60.32M
Change in Other Net Operating Assets	-61K	-8.4M	-3.55M	43.09M	-26.04M
Cash from Operations	-38.32M	12.36M	-33.96M	46.4M	75.26M
Capital Expenditure	-82.08M	-126M	-172M	-138M	-65.45M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-80.56M	-67.2M	-23.32M	-104M	-3.63M
Divestitures	-	1M	29.83M	10.99M	-
Sale (Purchase) of Intangible assets	-	-	-	-	-4.86M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	-41.41M	-4.65M	1.47M	2.78M	-4.75M
Cash from Investing	-204M	-197M	-164M	-229M	-78.69M
Long-Term Debt Issued, Total	25.24M	229M	556M	65.24M	8.86M
Total Debt Issued	25.24M	229M	556M	65.24M	8.86M
Long-Term Debt Repaid, Total	-8.24M	-29.68M	-420M	-8.89M	-60.24M
Total Debt Repaid	-8.24M	-29.68M	-420M	-8.89M	-60.24M
Issuance of Common Stock	2.34M	27.56M	244M	-	11.54M
Repurchase of Common Stock	-883K	-	-8.31M	-	-
Other Financing Activities, Total	-395K	-2.51M	53.4M	-5.81M	-27.18M
Cash from Financing	18.06M	224M	425M	50.54M	-67.02M
Foreign Exchange Rate Adjustments	-	-	-1.08M	-4.47M	-916K
Miscellaneous Cash Flow Adjustments	-	-8.09M	-	-	-
Net Change in Cash	-224M	31.23M	226M	-136M	-71.36M
Supplemental Items
Cash Interest Paid	9.28M	38.13M	33.44M	78.83M	97.94M
Cash Income Tax Paid (Refund)	7.2M	21.5M	91.79M	156M	100M
Levered Free Cash Flow	-51.06M	-104M	-153M	96.65M	297M
Unlevered Free Cash Flow	-35.59M	-61.18M	-96.28M	155M	359M
Change In Net Working Capital	5.38M	117M	212M	-96.59M	-171M
Net Debt Issued / Repaid	17M	199M	136M	56.35M	-51.38M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-0.47	3.99	3.9	-0.24	0.82
Return on Total Capital	-0.55	4.88	4.86	-0.32	1.11
Return On Equity %	-16.65	-6.89	-6.84	-24.59	-18.58
Return on Common Equity	-15.83	-6.91	-6.48	-26.19	-19.72
Margin Analysis
Gross Profit Margin %	64.07	62.32	56.84	43.33	45.63
SG&A Margin	44.45	30.51	30.6	33.49	30.8
EBITDA Margin %	9.77	26.28	22.58	11.33	17.73
EBITA Margin %	3.6	23.17	20.19	6	11.03
EBIT Margin %	-2.23	15.92	14.52	-0.93	3.18
Income From Continuing Operations Margin %	-31.6	-9.79	-9.02	-28.21	-17.74
Net Income Margin %	-30.42	-9.85	-8.41	-27.69	-20.88
Net Avail. For Common Margin %	-30.42	-9.85	-8.41	-27.69	-17.07
Normalized Net Income Margin	-4.33	3.79	5.05	-4.8	-1.78
Levered Free Cash Flow Margin	-23.1	-16.65	-12.62	7.23	22.03
Unlevered Free Cash Flow Margin	-16.1	-9.76	-7.96	11.6	26.68
Asset Turnover
Asset Turnover	0.34	0.4	0.43	0.41	0.41
Fixed Assets Turnover	1.59	1.74	2.06	1.67	1.58
Receivables Turnover (Average Receivables)	15.94	27.15	27.61	26.21	28.76
Inventory Turnover (Average Inventory)	1.38	1.45	1.46	3.04	3.25
Short Term Liquidity
Current Ratio	1.41	1.9	3.02	1.23	0.85
Quick Ratio	0.57	0.47	1.15	0.44	0.3
Operating Cash Flow to Current Liabilities	-0.36	0.06	-0.11	0.09	0.15
Days Sales Outstanding (Average Receivables)	22.9	13.48	13.22	13.93	12.69
Days Outstanding Inventory (Average Inventory)	264.02	253.13	249.59	120.2	112.34
Average Days Payable Outstanding	23.59	27.49	18.01	26.9	40.96
Cash Conversion Cycle (Average Days)	263.34	239.11	244.8	107.22	84.07
Long Term Solvency
Total Debt/Equity	49.1	41.98	41.67	82.15	93.76
Total Debt / Total Capital	32.93	29.57	29.41	45.1	48.39