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Ascend Wellness Holdings, Inc.

AAWH

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7 Visible periods

31 Metrics

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Health

Fair

Neutral

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Analytical Summary

Ascend Wellness Holdings, Inc. demonstrates solid fundamentals with strength in Return on Common Equity (%). However, watch Profit Margin (%) which shows concerning trends. Consider comparing against peers in the Materials sector before making investment decisions.

Market Cap —

Dividend Yield —

Revenue Growth -10.9% ↘

Op. Margin -3.4% ↘

ROIC -11.1% ↘

FCF / Share $0.06 ↘

Trailing P/E —

Price / Book —

FCF Yield —

Debt / Equity -6.74

info Valuation on last close.

7-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$500.58M

↓ -10.9% —

Net Income Profit after all expenses

$-118.19M

↓ -39.1% —

Operating Margin Operating profit as % of sales

-3.4%

↓ -503.2% 22th

FCF / Share Free cash flow per share

$0.06

↓ -75.2% —

Long-Term Debt Long-term obligations

$319.52M

↑ +3.7% —

trending_up

Bullish Indicators

Debt to EquityDebt to Equity is in the top quartile (lower is better)
Return on Common Equity (%)Return on Common Equity (%) is in the top quartile

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↑

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📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Revenue Growth YoY (%)	-10.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-317%)	8.3% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+66%)	27.8% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+455%)	22.1% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+343%)	131.3% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+2525%)	1094.6% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+21792%)	—
EPS Growth YoY (%)	-45.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-66.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	45.5% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	46.3% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-203.7% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	27.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—
Net Income Growth YoY (%)	-39.1% Weak ↓ Weak Declining Year-over-year change in net income	-76.3% Weak ↑ Weak Improving Year-over-year change in net income	40.4% Excellent ↑ Excellent Improving Year-over-year change in net income	34.0% Excellent ↑ Excellent Improving Year-over-year change in net income	-382.2% Weak Weak Year-over-year change in net income	20.2% Good Good Year-over-year change in net income	—
FCF Growth YoY (%)	-75.2% Weak ↓ Weak Declining Year-over-year change in free cash flow	-6.9% Weak ↑ Weak Improving Year-over-year change in free cash flow	N/M	24.9% Good ↑ Good Improving Year-over-year change in free cash flow	-155.7% Weak Weak Year-over-year change in free cash flow	64.0% Excellent Excellent Year-over-year change in free cash flow	—
Revenue CAGR 3Y (%)	7.2% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	19.1% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	53.4% Excellent Excellent Compound annual revenue growth over 3 years	223.1% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—
Revenue CAGR 5Y (%)	28.3% Excellent Excellent Compound annual revenue growth over 5 years	115.7% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Operating Margin (%) (%)	-3.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-123%)	0.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-94%)	-0.7% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-105%)	-1.9% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-112%)	-5.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-135%)	5.5% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-64%)	-217.1% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1547%)
Effective Tax Rate (%) (%)	-76.9% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-113.4% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-226.7% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-106.3% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-51.5% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-363.9% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-2.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%
Profit Margin (%) (%)	-23.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-336%)	-15.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-251%)	-9.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-193%)	-19.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-299%)	-36.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-469%)	-17.7% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-277%)	-265.1% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2751%)
FCF Margin (%) (%)	2.4% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	9.0% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	9.9% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	-29.6% Weak → Weak Stable Free cash flow as a percentage of revenue Optimal: > 10%	-39.2% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-22.6% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-0.10x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.60x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-1.06x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.48x Good ↓ Good Declining Free cash flow relative to reported net income Optimal: > 1x	1.06x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	1.27x Good Good Free cash flow relative to reported net income Optimal: > 1x	2.59x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Return on Invested Capital (%)	-11.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	2.7% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-8.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-9.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-14.8% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	23.3% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-1.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.5% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-0.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-0.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-2.4% Weak Weak Operating profit relative to total assets Optimal: > 10%	1.8% Weak Weak Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	249.1% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+1976%)	-119.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1098%)	-33.7% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-381%)	-49.5% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-513%)	-69.5% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-679%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Debt to Equity (x)	-6.74x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-1447%)	4.34x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+768%)	—	—	—	40.22x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+7944%)	—
Interest Coverage (x)	-0.33x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	0.10x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-0.10x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-0.23x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-0.27x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	0.60x Weak Weak Operating income divided by interest expense Optimal: > 5x	-4.03x Weak Weak Operating income divided by interest expense Optimal: > 5x
Net Debt (USD)	$233.84M	$219.77M	$-72.51M	$-74.15M	$-155.48M	$95.73M	—
Debt / EBITDA (x)	5.65x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.35x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	7.46x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Revenue per Share (USD)	$2.46	$2.64	$2.60	$2.21	$2.22	$1.51	$0.14
Basic EPS, GAAP (USD)	$-0.58	$-0.40	$-0.24	$-0.44	$-0.82	$-0.27	$-0.37
Free Cash Flow per Share (USD)	$0.06	$0.24	$0.26	$-0.65	$-0.87	$-0.34	$-0.95
Book Value per Share (USD)	$-0.23	$0.35	$0.69	$0.87	$1.03	$0.04	—
Tangible Book Value per Share (USD)	$-0.52	$0.10	$0.46	$0.63	$0.78	$-0.20	—
Basic Weighted Avg Shares (shares)	203.48M	212.43M	199.15M	183.38M	149.43M	95.17M	87.29M

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Working Capital (USD)	$99.94M	$84.83M	$136.17M	$87.79M	$140.62M	$18.89M	—
LT Debt (USD)	$319.52M	$308.02M	—	—	—	$152.28M	—
Total Equity (USD)	$-47.44M	$70.98M	$142.87M	$163.41M	$176.48M	$3.79M	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Sales/Revenue/Turnover (USD)	$500.58M	$561.60M	$518.59M	$405.93M	$332.38M	$143.73M	$12.03M
Depreciation Expense (USD)	$73.53M	$66.16M	$58.98M	$37.11M	$22.22M	$12.56M	$4.10M
Net Income, GAAP (USD)	$-118.19M	$-84.99M	$-48.21M	$-80.90M	$-122.66M	$-25.44M	$-31.89M
Operating Cash Flow (USD)	$38.05M	$73.29M	$75.33M	$-38.36M	$-41.74M	$-6.00M	$-40.93M

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bar_chart Data from SEC EDGAR XBRL filings

Synced 4 days ago 7 years · 27 quarters

Ascend Wellness Holdings, Inc.

Analytical Summary

7-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

Benchmark Lens

Signals

Percentile Rankings

Peer Comparison

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