SNDL Inc.

NasdaqCM:SNDL Stock Report

Market Cap: US$525.7m

SNDL Valuation

Is SNDL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SNDL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SNDL ($1.98) is trading above our estimate of fair value ($0.41)

Significantly Below Fair Value: SNDL is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SNDL?

Key metric: As SNDL is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for SNDL. This is calculated by dividing SNDL's market cap by their current revenue.
What is SNDL's PS Ratio?
PS Ratio0.8x
SalesCA$911.22m
Market CapCA$734.79m

Price to Sales Ratio vs Peers

How does SNDL's PS Ratio compare to its peers?

The above table shows the PS ratio for SNDL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.9x
ESPR Esperion Therapeutics
1.7x31.1%US$496.5m
XERS Xeris Biopharma Holdings
2.5x17.2%US$460.7m
ACRS Aclaris Therapeutics
10x4.9%US$271.4m
RVNC Revance Therapeutics
1.5x21.9%US$391.3m
SNDL SNDL
0.8x7.2%US$525.7m

Price-To-Sales vs Peers: SNDL is good value based on its Price-To-Sales Ratio (0.8x) compared to the peer average (3.9x).

Price to Sales Ratio vs Industry

How does SNDL's PS Ratio compare vs other companies in the US Pharmaceuticals Industry?

73 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.2.8x10.1%
SNDL SNDL
 0.8x7.2%US$525.69m
OGN Organon
0.6x-0.06%US$3.94b
PRGO Perrigo
0.9x3.4%US$3.83b
SNDL 0.8xIndustry Avg. 2.8xNo. of Companies73PS048121620+
73 CompaniesEstimated GrowthMarket Cap
Industry Avg.2.8x23.7%
SNDL SNDL
 0.8x146.1%US$525.69m
No more companies

Price-To-Sales vs Industry: SNDL is good value based on its Price-To-Sales Ratio (0.8x) compared to the US Pharmaceuticals industry average (2.8x).

Price to Sales Ratio vs Fair Ratio

What is SNDL's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SNDL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.8x
Fair PS Ratio2.1x

Price-To-Sales vs Fair Ratio: SNDL is good value based on its Price-To-Sales Ratio (0.8x) compared to the estimated Fair Price-To-Sales Ratio (2.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SNDL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.98
US$3.49
+76.2%
14.5%US$4.00US$2.98n/a2
Nov ’25US$2.11
US$3.66
+73.5%
9.3%US$4.00US$3.32n/a2
Oct ’25US$1.99
US$3.66
+84.0%
9.3%US$4.00US$3.32n/a2
Sep ’25US$1.97
US$3.63
+84.3%
10.3%US$4.00US$3.26n/a2
Aug ’25US$2.21
US$3.61
+63.4%
10.9%US$4.00US$3.22n/a2
Jul ’25US$1.92
US$3.62
+88.4%
10.7%US$4.00US$3.23n/a2
Jun ’25US$2.22
US$3.63
+63.3%
10.4%US$4.00US$3.25n/a2
May ’25US$2.22
US$3.61
+62.8%
10.6%US$4.00US$3.23n/a2
Apr ’25US$1.97
US$3.61
+83.5%
10.6%US$4.00US$3.23n/a2
Mar ’25US$1.38
US$3.65
+164.3%
9.7%US$4.00US$3.30n/a2
Feb ’25US$1.39
US$3.65
+162.4%
9.7%US$4.00US$3.30n/a2
Jan ’25US$1.64
US$3.65
+122.4%
9.7%US$4.00US$3.30n/a2
Dec ’24US$1.50
US$3.64
+142.8%
10.2%US$4.01US$3.27n/a2
Jun ’24US$1.45
US$3.26
+125.1%
0.6%US$3.28US$3.24US$2.222
May ’24US$1.54
US$3.27
+112.2%
0.02%US$3.27US$3.27US$2.222
Apr ’24US$1.60
US$3.45
+115.6%
11.0%US$3.98US$2.95US$1.974
Mar ’24US$1.82
US$3.45
+89.5%
11.0%US$3.98US$2.95US$1.384
Feb ’24US$2.33
US$3.45
+48.0%
11.0%US$3.98US$2.95US$1.394
Jan ’24US$2.09
US$3.42
+63.6%
10.9%US$3.94US$2.93US$1.644
Dec ’23US$2.88
US$3.43
+18.9%
11.3%US$3.97US$2.95US$1.504
Nov ’23US$2.41
US$3.39
+40.5%
14.4%US$4.00US$2.81US$1.443

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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