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Spyder Cannabis

TSXV:SPDR
Snowflake Description

Worrying balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SPDR
TSXV
CA$3M
Market Cap
  1. Home
  2. CA
  3. Retail
Company description

Spyder Cannabis Inc., a retail operator, engages in the distribution and retail of various cannabis products in Canada. The last earnings update was 16 days ago. More info.


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  • Spyder Cannabis has significant price volatility in the past 3 months.
SPDR Share Price and Events
7 Day Returns
-11.8%
TSXV:SPDR
-1.5%
CA Specialty Retail
-0.5%
CA Market
1 Year Returns
-
TSXV:SPDR
-31.3%
CA Specialty Retail
-2.9%
CA Market
SPDR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Spyder Cannabis (SPDR) -11.8% -6.3% - - - -
CA Specialty Retail -1.5% -2% -5.6% -31.3% -20.4% -39.9%
CA Market -0.5% 0.8% -2.1% -2.9% 8% 0.6%
1 Year Return vs Industry and Market
  • No trading data on SPDR.
  • No trading data on SPDR.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Spyder Cannabis undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.

In this section, we usually try to help investors determine whether Spyder Cannabis is trading at an attractive price based on the cash flow it is expected to produce in the future. But as Spyder Cannabis has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis. You can see them here.

Show me the analysis anyway

INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Spyder Cannabis. This is due to cash flow or dividend data being unavailable. The share price is CA$0.075.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Spyder Cannabis's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Spyder Cannabis's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSXV:SPDR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-04-30) in CAD CA$-0.11
TSXV:SPDR Share Price ** TSXV (2019-07-17) in CAD CA$0.08
Canada Specialty Retail Industry PE Ratio Median Figure of 6 Publicly-Listed Specialty Retail Companies 11.66x
Canada Market PE Ratio Median Figure of 538 Publicly-Listed Companies 15.05x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Spyder Cannabis.

TSXV:SPDR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSXV:SPDR Share Price ÷ EPS (both in CAD)

= 0.08 ÷ -0.11

-0.7x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Spyder Cannabis is loss making, we can't compare its value to the CA Specialty Retail industry average.
  • Spyder Cannabis is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Spyder Cannabis's expected growth come at a high price?
Raw Data
TSXV:SPDR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
North America Specialty Retail Industry PEG Ratio Median Figure of 56 Publicly-Listed Specialty Retail Companies 1.65x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Spyder Cannabis, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Spyder Cannabis's assets?
Raw Data
TSXV:SPDR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-04-30) in CAD CA$-0.10
TSXV:SPDR Share Price * TSXV (2019-07-17) in CAD CA$0.08
Canada Specialty Retail Industry PB Ratio Median Figure of 12 Publicly-Listed Specialty Retail Companies 1.25x
Canada Market PB Ratio Median Figure of 2,440 Publicly-Listed Companies 1.42x
TSXV:SPDR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSXV:SPDR Share Price ÷ Book Value per Share (both in CAD)

= 0.08 ÷ -0.10

-0.78x

* Primary Listing of Spyder Cannabis.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Spyder Cannabis has negative assets, we can't compare the value of its assets to the CA Specialty Retail industry average.

Next steps:

  1. When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through Spyder Cannabis's regulatory filings and announcements.
  2. Show me more potentially undervalued companies in the Specialty Retail industry
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Value checks
We assess Spyder Cannabis's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Specialty Retail industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Specialty Retail industry average (and greater than 0)? (1 check)
  5. Spyder Cannabis has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Spyder Cannabis expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Spyder Cannabis has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.2%
Expected Specialty Retail industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Spyder Cannabis expected to grow at an attractive rate?
  • Unable to compare Spyder Cannabis's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Spyder Cannabis's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Spyder Cannabis's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSXV:SPDR Future Growth Rates Data Sources
Data Point Source Value (per year)
Canada Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 19.2%
Canada Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSXV:SPDR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSXV:SPDR Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-04-30 1 0 -1
2019-01-31 1 -1 -1
2018-10-31 1 -1 0
2018-01-31 1 0 0
2017-01-31 1 0 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Spyder Cannabis is high growth as no earnings estimate data is available.
  • Unable to determine if Spyder Cannabis is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSXV:SPDR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Spyder Cannabis Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:SPDR Past Financials Data
Date (Data in CAD Millions) EPS *
2019-04-30 -0.11
2019-01-31 -0.08
2018-10-31 -0.04
2018-01-31 -0.05
2017-01-31 -0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Spyder Cannabis will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Spyder Cannabis's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Retail companies here
  2. Spyder Cannabis's competitive advantages and company strategy can generally be found in its financial reports archived here.
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Spyder Cannabis's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Spyder Cannabis has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Spyder Cannabis performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Spyder Cannabis's growth in the last year to its industry (Specialty Retail).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Spyder Cannabis does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Spyder Cannabis's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Spyder Cannabis's 1-year growth to the CA Specialty Retail industry average as it is not currently profitable.
Earnings and Revenue History
Spyder Cannabis's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Spyder Cannabis Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:SPDR Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-04-30 1.00 -0.84 1.11
2019-01-31 0.97 -0.62 0.93
2018-10-31 0.90 -0.33 0.66
2018-01-31 0.74 -0.36 0.65
2017-01-31 0.78 -0.04 0.39

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Spyder Cannabis has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • It is difficult to establish if Spyder Cannabis has efficiently used its assets last year compared to the CA Specialty Retail industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Spyder Cannabis improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Spyder Cannabis's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Specialty Retail industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Spyder Cannabis has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Spyder Cannabis's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Spyder Cannabis's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Spyder Cannabis is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Spyder Cannabis's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Spyder Cannabis's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Spyder Cannabis has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Spyder Cannabis Company Filings, last reported 2 months ago.

TSXV:SPDR Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-04-30 -0.78 1.28 0.46
2019-01-31 -0.50 1.25 0.48
2018-10-31 -0.43 0.70 0.04
2018-01-31 -0.26 0.55 0.12
2017-01-31 -0.18 0.03 0.01
  • Spyder Cannabis has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Spyder Cannabis's debt level has increased considering it has negative shareholder equity.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Spyder Cannabis has less than a year of cash runway based on current free cash flow.
  • Spyder Cannabis has less than a year of cash runway if free cash flow continues to grow at historical rates of 72% each year.
X
Financial health checks
We assess Spyder Cannabis's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Spyder Cannabis has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Spyder Cannabis's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Spyder Cannabis dividends.
If you bought CA$2,000 of Spyder Cannabis shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Spyder Cannabis's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Spyder Cannabis's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSXV:SPDR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.5%
Canada Market Average Dividend Yield Market Cap Weighted Average of 336 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Spyder Cannabis has not reported any payouts.
  • Unable to verify if Spyder Cannabis's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Spyder Cannabis's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Spyder Cannabis has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Spyder Cannabis's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Spyder Cannabis afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Spyder Cannabis has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Spyder Cannabis's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dan Pelchovitz
CEO Bio

Daniel Pelchovitz, also known as Dan is President, Director and Chief Executive Officer at Spyder Cannabis Inc. (formerly, Anchor Capital Corporation).

CEO Compensation
  • Insufficient data for Dan to compare compensation growth.
  • Insufficient data for Dan to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team

Dan Pelchovitz

TITLE
President

Mark Pelchovitz

TITLE
Director
Board of Directors

Dan Pelchovitz

TITLE
President

Mark Pelchovitz

TITLE
Director

Steven Glaser

TITLE
Director

Brandon Kou

TITLE
Director
AGE
34

Michael Lerner

TITLE
Director
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
X
Management checks
We assess Spyder Cannabis's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Spyder Cannabis has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Spyder Cannabis Inc., a retail operator, engages in the distribution and retail of various cannabis products in Canada. The company offers e-cigarettes, vaporizers and accessories, e-juices, and e-liquids. It provides its products through a chain of three vape stores in Woodbridge, Scarborough, and Burlington, Ontario, as well as through online. In addition, the company engages in the development of hemp-based products and extracts. Spyder Cannabis Inc. was founded in 2014 and is headquartered in Woodbridge, Canada.

Details
Name: Spyder Cannabis Inc.
SPDR
Exchange: TSXV
Founded: 2014
CA$2,995,378
39,938,375
Website: http://corporate.spydercannabis.com
Address: Spyder Cannabis Inc.
51-7600 Weston Road,
Woodbridge,
Ontario, L4L 8B7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSXV SPDR Common Shares TSX Venture Exchange CA CAD 11. Jun 2019
Number of employees
Current staff
Staff numbers
11
Spyder Cannabis employees.
Industry
Specialty Stores
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 01:16
End of day share price update: 2019/07/17 00:00
Last earnings filing: 2019/07/02
Last earnings reported: 2019/04/30
Last annual earnings reported: 2019/01/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.