Financials Westleaf Inc Toronto S.E.

Equities

WL

CA9605631048

Pharmaceuticals

End-of-day quote Toronto S.E. Other stock markets
- ^CAD	-

Apr. 10	Fire & Flower Inc completed the acquisition of brick and mortar retail cannabis operations of Decibel Cannabis Company Inc.(TSXV:DB).	CI
Apr. 08	Decibel Cannabis Company Inc. Appoints Benjamin Sze as Chief Executive Officer	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	68.5	24.39	58.58	40.45	53.18	53.18	-
Enterprise Value (EV) ¹	68.5	24.39	58.58	40.45	90.18	79.68	63.38
P/E ratio	-	-2.33 x	14.5 x	-10 x	8.67 x	3.25 x	2.6 x
Yield	-	-	-	-	-	-	-
Capitalization / Revenue	11 x	-	1.12 x	0.51 x	0.45 x	0.41 x	0.36 x
EV / Revenue	11 x	-	1.12 x	0.51 x	0.76 x	0.61 x	0.43 x
EV / EBITDA	-38.1 x	-	7.9 x	2.38 x	3.28 x	2.51 x	1.85 x
EV / FCF	-25.3 x	-	-	-	21 x	9.21 x	3.82 x
FCF Yield	-3.95%	-	-	-	4.77%	10.9%	26.2%
Price to Book	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	342,504	348,489	403,990	404,484	409,039	409,039	-
Reference price ²	0.2000	0.0700	0.1450	0.1000	0.1300	0.1300	0.1300
Announcement Date	5/25/20	4/14/21	4/22/22	4/24/23	-	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	6.2	-	52.45	79.33	119.2	131.3	145.8
EBITDA ¹	-1.8	-	7.417	17.01	27.51	31.69	34.2
EBIT ¹	-3.647	-	5.968	-0.714	5.15	18.5	24.6
Operating Margin	-58.82%	-	11.38%	-0.9%	4.32%	14.09%	16.87%
Earnings before Tax (EBT) ¹	-	-	1.743	-4.462	2.7	19.9	18.5
Net income ¹	-	-9.21	1.743	-4.462	5.6	17.23	16.4
Net margin	-	-	3.32%	-5.62%	4.7%	13.13%	11.24%
EPS ²	-	-0.0300	0.0100	-0.0100	0.0150	0.0400	0.0500
Free Cash Flow ¹	-2.704	-	-	-	4.3	8.65	16.6
FCF margin	-43.61%	-	-	-	3.61%	6.59%	11.38%
FCF Conversion (EBITDA)	-	-	-	-	15.63%	27.3%	48.54%
FCF Conversion (Net income)	-	-	-	-	76.79%	50.19%	101.22%
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	5/25/20	4/14/21	4/22/22	4/24/23	-	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	12.44	13.37	14.02	16.65	18.56	18.32	25.8	27.14	30.89	30.19	30.97	29.87	31.93	33.73	35.73
EBITDA ¹	2.149	2.256	1.45	2.459	3.23	4.259	7.061	6.765	7.302	6.702	6.767	6.533	7.633	8.467	9.067
EBIT ¹	-	0.15	1.715	-3.382	-1.199	5.923	-2.055	0.171	-	-	3.8	3.7	5.6	6.2	6.5
Operating Margin	-	1.12%	12.23%	-20.31%	-6.46%	32.33%	-7.97%	0.63%	-	-	12.27%	12.39%	17.54%	18.38%	18.19%
Earnings before Tax (EBT) ¹	-	-0.926	0.667	-4.372	-2.112	5.169	-3.147	-0.569	-	-	3.3	3.2	5	5.6	6
Net income ¹	-	-0.913	0.654	-4.372	-2.112	5.169	-3.147	-0.569	-	-	2.5	2.4	3.8	4.2	4.5
Net margin	-	-6.83%	4.67%	-26.26%	-11.38%	28.21%	-12.2%	-2.1%	-	-	8.07%	8.04%	11.9%	12.45%	12.59%
EPS ²	-	-	0.0100	-0.0100	-0.0100	0.0100	-	-0.001400	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	8/16/21	11/18/21	4/22/22	5/25/22	8/18/22	11/15/22	4/24/23	5/29/23	-	11/16/23	-	-	-	-	-

¹CAD in Million²CAD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	37	26.5	10.2
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	1.345 x	0.8363 x	0.2982 x
Free Cash Flow ¹	-2.7	-	-	-	4.3	8.65	16.6
ROE (net income / shareholders' equity)	-	-	-	-	13.8%	22.6%	17.1%
ROA (Net income/ Total Assets)	-	-	-	-	4.9%	10.2%	9%
Assets ¹	-	-	-	-	114.3	169	182.2
Book Value Per Share	-	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	1.26	-	-	-	1.9	2.95	4
Capex / Sales	20.32%	-	-	-	1.59%	2.25%	2.74%
Announcement Date	5/25/20	4/14/21	4/22/22	4/24/23	-	-	-

¹CAD in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Westleaf Inc

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.13 CAD

Average target price

0.45 CAD

Spread / Average Target

+246.15%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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