What is ASCEND WELLNESS HOLDNGS A's earnings per share (EPS)?

ASCEND WELLNESS HOLDNGS A (AAWH) reported diluted earnings per share of -$0.58 for fiscal year 2025. This represents a -45.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

ASCEND WELLNESS HOLDNGS A (AAWH) Financials

AAWH

Trailing 12 months to June 30, 2026

Revenue $488.3M -8.4% YoY

Net Income -$113.8M -28.3% YoY

EPS (Diluted) -$0.57 -35.7% YoY

Free Cash Flow -$6.9M -118.2% YoY

Market Cap $80.3M as of Oct 16, 2026

Price / Sales 0.2x on $488.3M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 12, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AAWH SEC filings page.

ASCEND WELLNESS HOLDNGS A (AAWH) reported $488.3M in revenue over the twelve months to Jun 30, 2026, down 8.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AAWH FY2025 2026-10-03

Revenue weakened in FY2025, but positive cash generation coexists with negative equity and a still-loss-making core business.

FY2025 operating cash flow was $38.1M despite a net loss of $118.2M, so reported cash generation did not translate into accounting profitability. Free cash flow fell to $12.0M from $50.8M in FY2024, showing that capital spending absorbed much of the cash produced by operations.

Revenue fell from $561.6M in FY2024 to $500.6M in FY2025, so the latest weakness reflects an actual sales contraction rather than merely slower growth. Gross margin improved to 33.9% in FY2025, but operating margin was -3.4%; product-level profitability still did not cover operating costs.

Liabilities reached $954.5M against assets of $907.9M in FY2025, indicating the balance sheet had moved beyond a conventional equity-funded structure. Negative equity of -$47.4M makes the reported debt-to-equity ratio of -6.1x a poor leverage gauge rather than evidence of low debt.

Financial Health Signals

Financial health score not available

ASCEND WELLNESS HOLDNGS A does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Distress

-0.13

ASCEND WELLNESS HOLDNGS A scores -0.13, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($80.3M) relative to total liabilities ($954.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

5/9

ASCEND WELLNESS HOLDNGS A passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

N/A

ASCEND WELLNESS HOLDNGS A reported a net loss of $118.2M while generating $38.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

ASCEND WELLNESS HOLDNGS A reported an operating loss of $17.0M against $51.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$126.1M

YoY-0.9%

QoQ+7.9%

5Y CAGR+8.6%

ASCEND WELLNESS HOLDNGS A generated $126.1M in revenue in Q2 2026. This represents a decrease of 0.9% from the same quarter a year earlier. Against the prior quarter it is up 7.9%.

EBITDA

$15.8M

YoY+91.8%

QoQ-24.1%

5Y CAGR+19.9%

ASCEND WELLNESS HOLDNGS A's EBITDA was $15.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 91.8% from the same quarter a year earlier. Against the prior quarter it is down 24.1%.

Net Income

-$9.8M

YoY+59.8%

QoQ+66.8%

ASCEND WELLNESS HOLDNGS A reported -$9.8M in net income in Q2 2026. This represents an increase of 59.8% from the same quarter a year earlier. Against the prior quarter it is up 66.8%.

EPS (Diluted)

-$0.05

YoY+58.3%

QoQ+66.7%

ASCEND WELLNESS HOLDNGS A earned -$0.05 per diluted share (EPS) in Q2 2026. This represents an increase of 58.3% from the same quarter a year earlier. Against the prior quarter it is up 66.7%.

Cash & Balance Sheet

Free Cash Flow

$16.7M

YoY+44.3%

QoQ+167.8%

ASCEND WELLNESS HOLDNGS A generated $16.7M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 44.3% from the same quarter a year earlier. Against the prior quarter it is up 167.8%.

Cash & Debt

$67.0M

YoY-29.7%

QoQ+10.0%

5Y CAGR-8.5%

ASCEND WELLNESS HOLDNGS A held $67.0M in cash against $293.5M in long-term debt as of Q2 2026.

Shares Outstanding

203M

YoY0.0%

QoQ+0.1%

ASCEND WELLNESS HOLDNGS A had 203M shares outstanding in Q2 2026. That is unchanged from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

36.1%

YoY+3.6pp

QoQ-2.3pp

5Y change-5.3pp

ASCEND WELLNESS HOLDNGS A's gross margin was 36.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 3.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.3 percentage points.

Operating Margin

4.2%

YoY+5.0pp

QoQ+2.0pp

5Y change-0.5pp

ASCEND WELLNESS HOLDNGS A's operating margin was 4.2% in Q2 2026, reflecting core business profitability. This is up 5.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.

Net Margin

-7.8%

YoY+11.4pp

QoQ+17.4pp

5Y change+46.1pp

ASCEND WELLNESS HOLDNGS A's net profit margin was -7.8% in Q2 2026, showing the share of revenue converted to profit. This is up 11.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 17.4 percentage points.

Return on Equity

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

YoY-100.0%

ASCEND WELLNESS HOLDNGS A repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

Capital Expenditures

$5.8M

YoY-7.4%

QoQ+11.5%

ASCEND WELLNESS HOLDNGS A invested $5.8M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 7.4% from the same quarter a year earlier. Against the prior quarter it is up 11.5%.

R&D Spending

Not reported for Q2 2026.

AAWH Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AAWH quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Revenue	$488.3M	$500.6M-10.9%	$561.6M+8.3%	$518.6M+27.8%	$405.9M+22.1%	$332.4M+131.3%	$143.7M+1094.6%	$12.0M
Cost of Revenue	$309.2M	$330.9M-12.3%	$377.4M+3.8%	$363.5M+33.9%	$271.4M+38.2%	$196.4M+137.2%	$82.8M+847.1%	$8.7M
Gross Profit	$179.1M	$169.7M-7.9%	$184.2M+18.8%	$155.1M+15.3%	$134.6M-1.0%	$136.0M+123.2%	$60.9M+1752.6%	$3.3M
SG&A Expenses	$172.8M	$169.7M-5.5%	$179.5M+13.1%	$158.7M+15.8%	$137.1M+17.5%	$116.7M+119.8%	$53.1M+80.4%	$29.4M
Operating Income	-$10.7M	-$17.0M-459.4%	$4.7M+230.8%	-$3.6M+51.9%	-$7.5M+56.3%	-$17.2M-319.2%	$7.8M+130.0%	-$26.1M
EBITDA	N/A	$56.5M-20.3%	$70.9M+28.0%	$55.4M+87.2%	$29.6M+489.8%	$5.0M-75.4%	$20.4M+192.7%	-$22.0M
Interest Expense	$69.1M	$51.3M+13.3%	$45.3M+22.4%	$37.0M+14.0%	$32.4M-49.3%	$64.0M+392.5%	$13.0M+100.6%	$6.5M
Income Tax	$34.7M	$51.4M+13.7%	$45.2M+35.0%	$33.5M-19.8%	$41.7M-0.1%	$41.7M+123.1%	$18.7M+2703.9%	$667K
Net Income	-$113.8M	-$118.2M-39.1%	-$85.0M-76.3%	-$48.2M+40.4%	-$80.9M+34.0%	-$122.7M-382.2%	-$25.4M+20.2%	-$31.9M
EPS (Basic)	N/A	-$0.58-45.0%	-$0.40-66.7%	-$0.24+45.5%	-$0.44+46.3%	-$0.82-203.7%	-$0.27+27.0%	-$0.37
EPS (Diluted)	-$0.57	-$0.58-45.0%	-$0.40-66.7%	-$0.24+45.5%	-$0.44+46.3%	-$0.82	-$0.27+27.0%	-$0.37
Diluted Shares (Avg)	N/A	203M-4.2%	212M+6.7%	199M+8.6%	183M+22.7%	149M	95M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$126.1M-0.9%	$116.9M-8.6%	$120.5M-11.4%	$124.7M-11.9%	$127.3M-10.1%	$128.0M-10.1%	$136.0M-3.0%	$141.6M+0.3%
Cost of Revenue	$80.6M-6.2%	$72.1M-18.5%	$75.4M-15.4%	$81.1M-17.1%	$85.9M-14.1%	$88.4M-2.1%	$89.1M-3.8%	$97.9M+0.2%
Gross Profit	$45.5M+9.9%	$44.9M+13.5%	$45.1M-3.7%	$43.6M-0.3%	$41.4M-0.4%	$39.6M-24.0%	$46.9M-1.4%	$43.7M+0.4%
SG&A Expenses	$40.2M-5.1%	$42.3M+14.2%	$45.3M+11.1%	$44.9M-2.6%	$42.4M-1.6%	$37.1M-25.0%	$40.8M-13.2%	$46.1M+15.3%
Operating Income	$5.3M+626.9%	$2.5M+2.4%	-$17.2M-381.6%	-$1.3M+45.2%	-$1.0M+34.2%	$2.5M-3.5%	$6.1M+981.2%	-$2.4M-168.1%
EBITDA	$15.8M+91.8%	$20.8M-0.3%	$18.9M-51.0%	$8.5M+34.2%	$8.2M+16.9%	$20.9M+10.2%	$38.5M+67.0%	$6.3M-42.5%
Interest Expense	$20.8M+72.5%	$20.3M+81.0%	$15.5M+32.2%	$12.6M-23.8%	$12.1M+41.3%	$11.2M+31.1%	$11.7M+36.7%	$16.5M+83.9%
Income Tax	-$5.7M-148.4%	$11.9M+7.9%	$16.2M+50.5%	$12.3M+25.7%	$11.8M-2.3%	$11.0M-11.8%	$10.8M-9.9%	$9.8M+45.2%
Net Income	-$9.8M+59.8%	-$29.5M-53.1%	-$48.7M-190.1%	-$25.8M+8.6%	-$24.4M-12.0%	-$19.3M-6.0%	-$16.8M+13.2%	-$28.3M-151.4%
EPS (Basic)	-$0.05+58.3%	-$0.15-66.7%	-$0.24-200.0%	-$0.130.0%	-$0.12-20.0%	-$0.090.0%	-$0.08+11.1%	-$0.13-160.0%
EPS (Diluted)	-$0.05+58.3%	-$0.15-66.7%	-$0.24-200.0%	-$0.130.0%	-$0.12-20.0%	-$0.090.0%	-$0.08+11.1%	-$0.13-160.0%
Diluted Shares (Avg)	203M-0.4%	202M-1.2%	N/A	203M-5.3%	204M-4.4%	205M-1.9%	N/A	214M+4.2%

Not reported in any period shown, so not listed: R&D Expenses.

AAWH Balance Sheet

AAWH quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Total Assets	$907.9M+0.8%	$900.4M-2.1%	$919.5M+5.4%	$872.2M+20.6%	$723.4M+69.1%	$427.7M	N/A
Current Assets	$208.9M-8.9%	$229.4M+0.2%	$228.9M+15.2%	$198.7M-23.0%	$258.0M+92.3%	$134.2M	N/A
Cash & Equivalents	$85.7M-2.9%	$88.3M+21.7%	$72.5M-2.2%	$74.1M-52.3%	$155.5M+175.0%	$56.5M+341.6%	$12.8M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0
Inventory	$84.7M-5.4%	$89.6M-6.0%	$95.3M-2.3%	$97.5M+48.7%	$65.6M+126.2%	$29.0M	N/A
Accounts Receivable	$27.0M-26.0%	$36.5M+29.1%	$28.3M+100.7%	$14.1M+85.2%	$7.6M+22.2%	$6.2M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0
Goodwill	$58.5M+17.9%	$49.6M+4.3%	$47.5M+7.1%	$44.4M+3.3%	$43.0M+88.5%	$22.8M+2718.0%	$809K
Total Liabilities	$954.5M+15.2%	$828.6M+6.7%	$776.7M+9.6%	$708.7M+29.6%	$547.0M+29.0%	$424.0M	N/A
Current Liabilities	$109.0M-24.6%	$144.5M+55.9%	$92.7M-16.5%	$110.9M-5.5%	$117.4M+1.8%	$115.3M	N/A
Non-Current Liabilities	$845.5M+23.6%	$684.1M0.0%	$684.0M+14.4%	$597.8M+39.2%	$429.6M+39.2%	$308.7M	N/A
Long-Term Debt	$291.1M+35.8%	$214.4M-27.9%	$297.6M-6.8%	$319.3M+38.3%	$230.8M+51.6%	$152.3M	N/A
Total Equity	-$47.4M-166.8%	$71.0M-50.3%	$142.9M-12.6%	$163.4M-7.4%	$176.5M+4561.3%	$3.8M-89.1%	$34.8M
Retained Earnings	-$518.5M-29.5%	-$400.4M-27.0%	-$315.4M-18.0%	-$267.1M-43.4%	-$186.2M-192.9%	-$63.6M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$888.3M-1.7%	$872.1M-4.9%	$907.9M+0.8%	$900.4M+0.5%	$903.9M-2.7%	$916.7M-0.6%	$900.4M-2.1%	$895.9M-1.3%
Current Assets	$186.9M-17.2%	$189.0M-20.4%	$208.9M-8.9%	$209.2M-2.0%	$225.7M-4.5%	$237.4M+2.3%	$229.4M+0.2%	$213.6M+1.1%
Cash & Equivalents	$67.0M-29.7%	$60.9M-39.1%	$85.7M-2.9%	$87.3M+33.7%	$95.3M+13.8%	$100.0M+37.2%	$88.3M+21.7%	$65.3M+2.1%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$82.3M-0.1%	$87.1M+1.8%	$84.7M-5.4%	$82.7M-15.1%	$82.3M-20.7%	$85.6M-19.9%	$89.6M-6.0%	$97.4M+9.3%
Accounts Receivable	$26.3M-14.3%	$26.4M-28.0%	$27.0M-26.0%	$28.8M-25.6%	$30.6M-13.2%	$36.7M+2.3%	$36.5M+29.1%	$38.8M+52.8%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$65.4M+21.1%	$58.4M+13.9%	$58.5M+17.9%	$57.8M+16.5%	$54.0M+7.9%	$51.2M+7.8%	$49.6M+4.3%	$49.6M+4.9%
Total Liabilities	$973.4M+11.2%	$947.9M+9.7%	$954.5M+15.2%	$897.8M+11.3%	$875.7M+7.9%	$864.0M+9.9%	$828.6M+6.7%	$807.0M+7.8%
Current Liabilities	$112.6M+11.8%	$88.5M-40.2%	$109.0M-24.6%	$96.0M-33.8%	$100.8M-2.2%	$147.9M+43.0%	$144.5M+55.9%	$145.1M+11.8%
Non-Current Liabilities	$860.8M+11.1%	$859.4M+20.0%	$845.5M+23.6%	$801.8M+21.1%	$774.9M+9.3%	$716.1M+4.9%	$684.1M0.0%	$661.8M+7.0%
Long-Term Debt	$293.5M-9.3%	$292.3M+16.2%	$291.1M+35.8%	$343.7M+48.1%	$323.4M+11.7%	$251.6M-12.8%	$214.4M-27.9%	$232.2M-23.1%
Total Equity	-$85.9M-414.3%	-$76.6M-247.6%	-$47.4M-166.8%	$1.8M-98.0%	$27.3M-76.5%	$51.9M-61.5%	$71.0M-50.3%	$88.1M-44.8%
Retained Earnings	-$557.8M-25.6%	-$548.0M-30.6%	-$518.5M-29.5%	-$469.8M-22.5%	-$444.0M-25.0%	-$419.6M-25.8%	-$400.4M-27.0%	-$383.6M-29.6%

AAWH Cash Flow Statement

AAWH quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Operating Cash Flow	$17.4M	$38.1M-48.1%	$73.3M-2.7%	$75.3M+296.4%	-$38.4M+8.1%	-$41.7M-595.2%	-$6.0M+85.3%	-$40.9M
Depreciation & Amortization	N/A	$73.5M+11.1%	$66.2M+12.2%	$59.0M+59.0%	$37.1M+67.0%	$22.2M+76.9%	$12.6M+206.3%	$4.1M
Stock-Based Compensation	N/A	$2.4M-86.9%	$18.6M-5.9%	$19.8M+4.2%	$19.0M-17.8%	$23.1M+3296.0%	$680K+118.6%	$311K
Capital Expenditures	$24.3M	$26.0M+15.4%	$22.5M-7.1%	$24.2M-70.3%	$81.6M-7.7%	$88.4M+234.7%	$26.4M-36.6%	$41.7M
Free Cash Flow	-$6.9M	$12.0M-76.3%	$50.8M-0.6%	$51.1M+142.6%	-$120.0M+7.8%	-$130.2M-301.5%	-$32.4M+60.7%	-$82.6M
Investing Cash Flow	-$47.1M	-$45.7M-23.0%	-$37.2M+37.9%	-$59.9M+47.6%	-$114.3M-0.9%	-$113.2M-266.8%	-$30.9M+52.9%	-$65.6M
Financing Cash Flow	$1.5M	$5.1M+125.1%	-$20.4M-19.1%	-$17.1M-124.0%	$71.3M-71.8%	$252.4M+207.1%	$82.2M-26.0%	$111.1M
Share Buybacks	$1.3M	$2.3M-16.0%	$2.8M	$0	$0	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$22.5M+26.1%	-$19.4M-426.8%	$16.3M-53.6%	-$2.0M-201.6%	$17.8M-44.8%	$5.9M+52.3%	$35.2M+111.0%	$2.0M-92.8%
Depreciation & Amortization	$10.5M+13.9%	$18.3M-0.7%	$20.5M+17.5%	$9.8M+12.3%	$9.2M+7.8%	$18.4M+12.3%	$17.5M+18.1%	$8.8M+16.9%
Stock-Based Compensation	$499K-2.3%	$450K-28.3%	N/A	$806K+513.3%	$511K-90.3%	$628K-94.1%	N/A	-$195K-103.9%
Capital Expenditures	$5.8M-7.4%	$5.2M-19.4%	$6.9M+37.2%	$6.4M+29.7%	$6.2M+16.5%	$6.4M-10.6%	$5.0M	$5.0M
Free Cash Flow	$16.7M+44.3%	-$24.6M-4980.8%	$9.4M-68.7%	-$8.5M-181.7%	$11.6M-57.0%	-$484K+85.2%	$30.1M	-$3.0M
Investing Cash Flow	-$13.1M-52.4%	-$4.8M+39.4%	-$16.8M-133.1%	-$12.5M-12.5%	-$8.6M+49.1%	-$7.8M-294.7%	-$7.2M+11.8%	-$11.1M+58.4%
Financing Cash Flow	-$3.3M+76.5%	-$592K-104.3%	-$1.1M+77.0%	$6.5M+170.6%	-$14.0M-205.8%	$13.7M+1002.9%	-$5.0M-6947.9%	-$9.3M-92.4%
Share Buybacks	$0-100.0%	$0-100.0%	$731K-73.4%	$586K	$649K	$345K	$2.8M	$0

Not reported in any period shown, so not listed: Dividends Paid.

AAWH Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AAWH quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Gross Margin	33.9%+1.1pp	32.8%+2.9pp	29.9%-3.2pp	33.1%-7.8pp	40.9%-1.5pp	42.4%+15.1pp	27.3%
Operating Margin	-3.4%-4.2pp	0.8%+1.5pp	-0.7%+1.1pp	-1.8%+3.3pp	-5.2%-10.6pp	5.5%	-217.1%
Net Margin	-23.6%-8.5pp	-15.1%-5.8pp	-9.3%+10.6pp	-19.9%+17.0pp	-36.9%-19.2pp	-17.7%	-265.1%
Return on Equity	N/A	-119.8%-86.0pp	-33.8%+15.8pp	-49.5%+20.0pp	-69.5%+602.4pp	-671.9%-580.4pp	-91.5%
Return on Assets	-13.0%-3.6pp	-9.4%-4.2pp	-5.2%+4.0pp	-9.3%+7.7pp	-17.0%-11.0pp	-5.9%	N/A
Current Ratio	1.92+0.3x	1.59-0.9x	2.47+0.7x	1.79-0.4x	2.20+1.0x	1.16	N/A
Debt-to-Equity	N/A	3.02+0.9x	2.08+0.1x	1.95+0.6x	1.31-38.9x	40.22	N/A
Asset Turnover	0.55-0.1x	0.62+0.1x	0.56+0.1x	0.470.0x	0.46+0.1x	0.34	N/A
FCF Margin	2.4%-6.6pp	9.0%-0.8pp	9.8%+39.4pp	-29.6%+9.6pp	-39.2%-16.6pp	-22.6%	-686.5%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	36.1%+3.6pp	38.4%+7.5pp	37.4%+3.0pp	35.0%+4.1pp	32.5%+3.1pp	30.9%-5.6pp	34.5%+0.5pp	30.9%0.0pp
Operating Margin	4.2%+5.0pp	2.2%+0.2pp	-14.2%-18.7pp	-1.1%+0.7pp	-0.8%+0.3pp	1.9%+0.1pp	4.5%+4.1pp	-1.7%-4.2pp
Net Margin	-7.8%+11.4pp	-25.2%-10.2pp	-40.4%-28.1pp	-20.7%-0.7pp	-19.2%-3.8pp	-15.0%-2.3pp	-12.3%+1.5pp	-20.0%-12.0pp
Return on Equity	N/A	N/A	N/A	-1471.5%-1439.4pp	-89.3%-70.6pp	-37.1%-23.6pp	-23.7%-10.1pp	-32.1%-25.0pp
Return on Assets	-1.1%+1.6pp	-3.4%-1.3pp	-5.4%-3.5pp	-2.9%+0.3pp	-2.7%-0.4pp	-2.1%-0.1pp	-1.9%+0.2pp	-3.1%-1.9pp
Current Ratio	1.66-0.6x	2.14+0.5x	1.92+0.3x	2.18+0.7x	2.24-0.1x	1.60-0.6x	1.59-0.9x	1.47-0.2x
Debt-to-Equity	N/A	N/A	N/A	195.87+193.2x	11.83+9.3x	4.85+2.7x	3.02+0.9x	2.64+0.7x
Asset Turnover	0.140.0x	0.130.0x	0.130.0x	0.140.0x	0.140.0x	0.140.0x	0.150.0x	0.160.0x
FCF Margin	13.2%+4.1pp	-21.0%-20.6pp	7.8%-14.3pp	-6.8%-4.7pp	9.1%-9.9pp	-0.4%+1.9pp	22.2%	-2.1%

Note: Shareholder equity is negative (-$47.4M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
ASCEND WELLNESS HOLDNGS A AAWH	FY2025	$500.6M	-$118.2M	-23.6%	$80.3M	—
JUSHI HLDGS INC CL B JUSHF	FY2025	$262.9M	-$68.6M	-26.1%	$82.9M	—
PLANET 13 HLDGS INC NEV PLNH	FY2025	$103.4M	-$63.9M	-61.8%	$35.5M	—
TERRASCENT CORP TSNDF	FY2025	$260.6M	-$81.3M	-31.2%	$176.1M	—

Where ASCEND WELLNESS HOLDNGS A Ranks

Frequently Asked Questions

What is ASCEND WELLNESS HOLDNGS A's annual revenue?

ASCEND WELLNESS HOLDNGS A (AAWH) reported $500.6M in total revenue for fiscal year 2025. This represents a -10.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is ASCEND WELLNESS HOLDNGS A's revenue growing?

ASCEND WELLNESS HOLDNGS A (AAWH) revenue declined by 10.9% year-over-year, from $561.6M to $500.6M in fiscal year 2025.

Is ASCEND WELLNESS HOLDNGS A profitable?

No, ASCEND WELLNESS HOLDNGS A (AAWH) reported a net income of -$118.2M in fiscal year 2025, with a net profit margin of -23.6%.

What is ASCEND WELLNESS HOLDNGS A's EBITDA?

ASCEND WELLNESS HOLDNGS A (AAWH) had EBITDA of $56.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does ASCEND WELLNESS HOLDNGS A have?

As of fiscal year 2025, ASCEND WELLNESS HOLDNGS A (AAWH) had $85.7M in cash and equivalents against $291.1M in long-term debt.

What is ASCEND WELLNESS HOLDNGS A's gross margin?

ASCEND WELLNESS HOLDNGS A (AAWH) had a gross margin of 33.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is ASCEND WELLNESS HOLDNGS A's operating margin?

ASCEND WELLNESS HOLDNGS A (AAWH) had an operating margin of -3.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is ASCEND WELLNESS HOLDNGS A's net profit margin?

ASCEND WELLNESS HOLDNGS A (AAWH) had a net profit margin of -23.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is ASCEND WELLNESS HOLDNGS A's free cash flow?

ASCEND WELLNESS HOLDNGS A (AAWH) generated $12.0M in free cash flow during fiscal year 2025. This represents a -76.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is ASCEND WELLNESS HOLDNGS A's operating cash flow?

ASCEND WELLNESS HOLDNGS A (AAWH) generated $38.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are ASCEND WELLNESS HOLDNGS A's total assets?

ASCEND WELLNESS HOLDNGS A (AAWH) had $907.9M in total assets as of fiscal year 2025, including both current and long-term assets.

What are ASCEND WELLNESS HOLDNGS A's capital expenditures?

ASCEND WELLNESS HOLDNGS A (AAWH) invested $26.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does ASCEND WELLNESS HOLDNGS A buy back shares?

Yes, ASCEND WELLNESS HOLDNGS A (AAWH) spent $2.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does ASCEND WELLNESS HOLDNGS A have outstanding?

ASCEND WELLNESS HOLDNGS A (AAWH) had 202M shares outstanding as of fiscal year 2025.

What is ASCEND WELLNESS HOLDNGS A's current ratio?

ASCEND WELLNESS HOLDNGS A (AAWH) had a current ratio of 1.92 as of fiscal year 2025, which is generally considered healthy.

What is ASCEND WELLNESS HOLDNGS A's return on assets (ROA)?

ASCEND WELLNESS HOLDNGS A (AAWH) had a return on assets of -13.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ASCEND WELLNESS HOLDNGS A's P/E ratio?

ASCEND WELLNESS HOLDNGS A (AAWH) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $80.3M as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ASCEND WELLNESS HOLDNGS A's price-to-sales ratio?

ASCEND WELLNESS HOLDNGS A (AAWH) trades at 0.2x sales, its market capitalization divided by revenue of $488.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $80.3M as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Why is ASCEND WELLNESS HOLDNGS A's debt-to-equity ratio negative or not reported?

ASCEND WELLNESS HOLDNGS A (AAWH) has negative shareholder equity of -$47.4M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is ASCEND WELLNESS HOLDNGS A's Altman Z-Score?

ASCEND WELLNESS HOLDNGS A (AAWH) has an Altman Z-Score of -0.13, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is ASCEND WELLNESS HOLDNGS A's Piotroski F-Score?

ASCEND WELLNESS HOLDNGS A (AAWH) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are ASCEND WELLNESS HOLDNGS A's earnings high quality?

ASCEND WELLNESS HOLDNGS A (AAWH) reported a net loss of $118.2M while generating $38.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can ASCEND WELLNESS HOLDNGS A cover its interest payments?

ASCEND WELLNESS HOLDNGS A (AAWH) reported an operating loss of $17.0M against $51.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.