Jushi Hldgs Financials
Jushi Hldgs (JUSH) reported $262.9M in revenue for fiscal year 2025, up 2.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Financial Health Signals
Jushi Hldgs 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.
Jushi Hldgs scores -1.31, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($95.2M) relative to total liabilities ($537.7M). 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.
Jushi Hldgs passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Jushi Hldgs reported a net loss of $68.6M while generating $17.7M 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.
Jushi Hldgs earns $0.12 in operating income for every $1 of interest expense ($4.9M vs $41.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Jushi Hldgs generated $262.9M in revenue in fiscal year 2025. This represents an increase of 2.1% from the prior year.
Jushi Hldgs's EBITDA was $35.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 12.1% from the prior year.
Jushi Hldgs reported -$68.6M in net income in fiscal year 2025. This represents a decrease of 40.6% from the prior year.
Jushi Hldgs earned -$0.35 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 40.0% from the prior year.
Cash & Balance Sheet
Jushi Hldgs generated $1.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 90.3% from the prior year.
Jushi Hldgs held $24.0M in cash against $199.2M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Jushi Hldgs's gross margin was 43.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.6 percentage points from the prior year.
Jushi Hldgs's operating margin was 1.8% in fiscal year 2025, reflecting core business profitability. This is down 2.4 percentage points from the prior year.
Jushi Hldgs's net profit margin was -26.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.2 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Jushi Hldgs invested $16.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 241.8% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
JUSH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Revenue | $265.5M | $262.9M+2.1% | $257.5M-4.4% | $269.4M-5.2% | $284.3M+35.8% | $209.3M+159.1% | $80.8M |
| Cost of Revenue | $147.4M | $148.9M+7.0% | $139.2M-9.1% | $153.2M-18.8% | $188.8M+50.0% | $125.9M+196.7% | $42.4M |
| Gross Profit | $118.1M | $114.0M-3.7% | $118.3M+1.8% | $116.2M+21.7% | $95.5M+14.5% | $83.4M+117.5% | $38.3M |
| SG&A Expenses | $109.7M | $109.1M+2.0% | $107.0M-3.1% | $110.5M-29.3% | $156.2M+38.4% | $112.8M+105.5% | $54.9M |
| Operating Income | $8.3M | $4.9M-55.3% | $10.9M+485.5% | -$2.8M+98.7% | -$220.3M-516.1% | -$35.8M-116.1% | -$16.6M |
| Interest Expense | $41.7M | $41.3M+8.7% | $38.0M+2.5% | $37.1M-19.0% | $45.7M+48.2% | $30.9M+98.2% | $15.6M |
| Income Tax | $34.7M | $35.0M+10.6% | $31.6M-0.6% | $31.8M+276.5% | $8.4M-71.5% | $29.6M+178.9% | $10.6M |
| Net Income | -$71.4M | -$68.6M-40.6% | -$48.8M+25.1% | -$65.1M+67.8% | -$202.3M-1099.1% | $20.3M+109.6% | -$210.6M |
| EPS (Diluted) | — | -$0.35-40.0% | -$0.25+24.2% | -$0.33+77.1% | -$1.44-242.9% | -$0.42+78.4% | -$1.94 |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
JUSH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $422.3M-4.1% | $440.3M-5.0% | $463.4M-12.5% | $529.3M-18.8% | $652.0M | N/A |
| Current Assets | $68.3M-5.3% | $72.2M-11.6% | $81.6M+16.5% | $70.1M-54.6% | $154.4M | N/A |
| Cash & Equivalents | $24.0M+23.2% | $19.5M-25.0% | $26.0M-0.6% | $26.2M-72.4% | $95.0M+10.6% | $85.9M |
| Inventory | $34.6M-4.2% | $36.1M+7.6% | $33.6M-4.3% | $35.1M-19.0% | $43.3M | N/A |
| Accounts Receivable | $2.8M+91.7% | $1.5M-56.8% | $3.4M-29.7% | $4.8M+50.3% | $3.2M | N/A |
| Goodwill | $30.9M0.0% | $30.9M0.0% | $30.9M-19.2% | $38.2M-16.6% | $45.8M+140.0% | $19.1M |
| Total Liabilities | $537.7M+9.6% | $490.6M+4.1% | $471.0M-2.6% | $483.4M+2.6% | $471.1M | N/A |
| Current Liabilities | $66.2M-3.9% | $68.9M-57.6% | $162.5M+50.9% | $107.6M+28.2% | $83.9M | N/A |
| Long-Term Debt | $199.2M+8.6% | $183.4M+45.5% | $126.0M-30.2% | $180.6M+50.7% | $119.8M | N/A |
| Total Equity | -$115.3M-129.6% | -$50.2M-706.1% | -$6.2M-113.2% | $47.3M-74.1% | $182.4M+7426.6% | $2.4M |
| Retained Earnings | -$627.2M-12.3% | -$558.6M-9.6% | -$509.8M-14.6% | -$444.7M-83.5% | -$242.4M | N/A |
JUSH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $18.8M | $17.7M-17.8% | $21.6M+750.1% | -$3.3M+84.5% | -$21.4M-49.7% | -$14.3M-15.7% | -$12.4M |
| Capital Expenditures | $15.1M | $16.1M+241.8% | $4.7M-56.2% | $10.7M-81.1% | $56.9M-24.5% | $75.3M+230.5% | $22.8M |
| Free Cash Flow | $3.7M | $1.6M-90.3% | $16.9M+219.9% | -$14.1M+82.0% | -$78.3M+12.6% | -$89.6M-155.0% | -$35.1M |
| Investing Cash Flow | -$12.9M | -$13.2M-87.1% | -$7.1M-10.6% | -$6.4M+92.1% | -$80.9M+28.7% | -$113.5M-147.7% | -$45.8M |
| Financing Cash Flow | $8.5M | $767K+103.1% | -$24.5M-276.4% | $13.9M-59.2% | $34.0M-75.3% | $137.7M+30.9% | $105.1M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
JUSH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Gross Margin | 43.4%-2.6pp | 45.9%+2.8pp | 43.1%+9.6pp | 33.6%-6.3pp | 39.9%-7.6pp | 47.5% |
| Operating Margin | 1.8%-2.4pp | 4.2%+5.3pp | -1.1%+76.5pp | -77.5%-60.4pp | -17.1%+3.4pp | -20.5% |
| Net Margin | -26.1%-7.2pp | -18.9%+5.2pp | -24.2%+47.0pp | -71.2%-80.8pp | 9.7% | -260.7% |
| Return on Equity | N/A | N/A | N/A | -427.9%-439.0pp | 11.1%+8703.1pp | -8692.0% |
| Return on Assets | -16.2%-5.2pp | -11.1%+3.0pp | -14.1%+24.2pp | -38.2%-41.3pp | 3.1% | N/A |
| Current Ratio | 1.030.0x | 1.05+0.5x | 0.50-0.1x | 0.65-1.2x | 1.84 | N/A |
| Debt-to-Equity | N/A | N/A | N/A | 3.82+3.2x | 0.66 | N/A |
| FCF Margin | 0.6%-5.9pp | 6.6%+11.8pp | -5.2%+22.3pp | -27.5%+15.3pp | -42.8%+0.7pp | -43.5% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Note: Shareholder equity is negative (-$115.3M), 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.
Where Jushi Hldgs Ranks
Frequently Asked Questions
What is Jushi Hldgs's annual revenue?
Jushi Hldgs (JUSH) reported $262.9M in total revenue for fiscal year 2025. This represents a 2.1% 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 Jushi Hldgs's revenue growing?
Jushi Hldgs (JUSH) revenue grew by 2.1% year-over-year, from $257.5M to $262.9M in fiscal year 2025.
Is Jushi Hldgs profitable?
No, Jushi Hldgs (JUSH) reported a net income of -$68.6M in fiscal year 2025, with a net profit margin of -26.1%.
What is Jushi Hldgs's EBITDA?
Jushi Hldgs (JUSH) had EBITDA of $35.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Jushi Hldgs have?
As of fiscal year 2025, Jushi Hldgs (JUSH) had $24.0M in cash and equivalents against $199.2M in long-term debt.
What is Jushi Hldgs's gross margin?
Jushi Hldgs (JUSH) had a gross margin of 43.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Jushi Hldgs's operating margin?
Jushi Hldgs (JUSH) had an operating margin of 1.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Jushi Hldgs's net profit margin?
Jushi Hldgs (JUSH) had a net profit margin of -26.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Jushi Hldgs's free cash flow?
Jushi Hldgs (JUSH) generated $1.6M in free cash flow during fiscal year 2025. This represents a -90.3% 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 Jushi Hldgs's operating cash flow?
Jushi Hldgs (JUSH) generated $17.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Jushi Hldgs's total assets?
Jushi Hldgs (JUSH) had $422.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Jushi Hldgs's capital expenditures?
Jushi Hldgs (JUSH) invested $16.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Jushi Hldgs's current ratio?
Jushi Hldgs (JUSH) had a current ratio of 1.03 as of fiscal year 2025, which is considered adequate.
What is Jushi Hldgs's return on assets (ROA)?
Jushi Hldgs (JUSH) had a return on assets of -16.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Jushi Hldgs's debt-to-equity ratio negative or not reported?
Jushi Hldgs (JUSH) has negative shareholder equity of -$115.3M 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 Jushi Hldgs's Altman Z-Score?
Jushi Hldgs (JUSH) has an Altman Z-Score of -1.31, 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 Jushi Hldgs's Piotroski F-Score?
Jushi Hldgs (JUSH) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Jushi Hldgs's earnings high quality?
Jushi Hldgs (JUSH) reported a net loss of $68.6M while generating $17.7M 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 Jushi Hldgs cover its interest payments?
Jushi Hldgs (JUSH) has an interest coverage ratio of 0.12x, meaning it can struggle to cover its interest obligations. 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.