Medicine Man Financials
This page shows Medicine Man (SHWZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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
Based on FY2023 annual data. Scores normalized against common benchmarks. How we calculate these scores
Medicine Man has an operating margin of 1.9%, meaning the company retains $2 of operating profit per $100 of revenue. This below-average margin results in a low score of 10/100, suggesting thin profitability after operating expenses. This is down from 8.1% the prior year.
Medicine Man's revenue grew 8.2% year-over-year to $172.4M, a solid pace of expansion. This earns a growth score of 52/100.
Medicine Man has a moderate D/E ratio of 1.28. This balance of debt and equity financing earns a leverage score of 64/100.
Medicine Man's current ratio of 0.97 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 19/100, which could limit financial flexibility.
Medicine Man's free cash flow margin of 2.5% results in a low score of 13/100. Capital expenditures of $7.9M absorb a large share of operating cash flow.
Medicine Man scores 0.19, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Medicine Man passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Medicine Man generates $-0.35 in operating cash flow ($12.2M OCF vs -$34.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Medicine Man earns $0.1 in operating income for every $1 of interest expense ($3.3M vs $32.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Medicine Man generated $172.4M in revenue in fiscal year 2023. This represents an increase of 8.2% from the prior year.
Medicine Man's EBITDA was $24.2M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.0% from the prior year.
Medicine Man generated $4.3M in free cash flow in fiscal year 2023, representing cash available after capex. This represents an increase of 159.3% from the prior year.
Medicine Man reported -$34.5M in net income in fiscal year 2023. This represents a decrease of 87.1% from the prior year.
Medicine Man earned $-0.66 per diluted share (EPS) in fiscal year 2023. This represents a decrease of 34.7% from the prior year.
Medicine Man held $19.2M in cash against $153.3M in long-term debt as of fiscal year 2023.
Medicine Man had 74M shares outstanding in fiscal year 2023. This represents an increase of 34.0% from the prior year.
Medicine Man's gross margin was 44.1% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is down 6.3 percentage points from the prior year.
Medicine Man's operating margin was 1.9% in fiscal year 2023, reflecting core business profitability. This is down 6.2 percentage points from the prior year.
Medicine Man's net profit margin was -20.0% in fiscal year 2023, showing the share of revenue converted to profit. This is down 8.4 percentage points from the prior year.
Medicine Man invested $7.9M in capex in fiscal year 2023, funding long-term assets and infrastructure. This represents a decrease of 43.8% from the prior year.
SHWZ Income Statement
| Metric | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $43.3M-7.3% | $46.7M+10.3% | $42.4M+5.9% | $40.0M-0.4% | $40.1M-7.0% | $43.2M-2.4% | $44.3M+39.3% | $31.8M |
| Cost of Revenue | $36.3M+43.4% | $25.3M+41.7% | $17.9M+5.2% | $17.0M-22.6% | $21.9M+27.2% | $17.2M-9.8% | $19.1M-8.3% | $20.8M |
| Gross Profit | $7.0M-67.2% | $21.4M-12.6% | $24.5M+6.5% | $23.0M+6.0% | $21.7M-3.4% | $22.5M-10.7% | $25.2M+130.0% | $10.9M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $11.2M+16.4% | $9.6M+9.1% | $8.8M-13.5% | $10.2M+14.5% | $8.9M+35.3% | $6.6M-1.1% | $6.7M-2.8% | $6.9M |
| Operating Income | -$16.2M-282.0% | $8.9M+80.0% | $5.0M-12.3% | $5.6M+325.5% | -$2.5M-122.5% | $11.1M+23.0% | $9.0M+288.6% | -$4.8M |
| Interest Expense | -$8.1M+2.5% | -$8.3M-5.4% | -$7.9M-1.9% | -$7.7M-13.1% | -$6.8M+19.4% | -$8.5M-13.5% | -$7.5M-2.6% | -$7.3M |
| Income Tax | $4.5M-17.4% | $5.4M+5.8% | $5.1M+10.3% | $4.7M+28.1% | $3.6M-34.9% | $5.6M+27.0% | $4.4M+249.7% | $1.3M |
| Net Income | -$29.4M-9006.4% | -$322K+95.1% | -$6.6M-478.6% | $1.7M+106.4% | -$27.3M-1611.1% | $1.8M-94.7% | $33.8M+226.4% | -$26.8M |
| EPS (Diluted) | $-0.42-1300.0% | $-0.03+80.0% | $-0.15-150.0% | $-0.06+50.0% | $-0.12 | $0.00-100.0% | $0.24+139.3% | $-0.61 |
SHWZ Balance Sheet
| Metric | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $358.1M-3.4% | $370.6M+0.4% | $369.0M+14.1% | $323.4M+0.2% | $322.9M-2.0% | $329.6M+3.6% | $318.1M0.0% | $318.0M |
| Current Assets | $53.7M-16.6% | $64.4M-3.2% | $66.5M-10.2% | $74.1M+3.3% | $71.7M+0.2% | $71.6M+7.2% | $66.8M-6.4% | $71.4M |
| Cash & Equivalents | $19.2M-1.9% | $19.6M-1.2% | $19.9M-43.5% | $35.2M-9.7% | $38.9M+0.6% | $38.7M+14.4% | $33.9M-29.0% | $47.7M |
| Inventory | $25.8M-21.3% | $32.8M-3.1% | $33.8M+32.2% | $25.6M+13.4% | $22.6M+5.9% | $21.3M+9.9% | $19.4M+18.3% | $16.4M |
| Accounts Receivable | $4.3M-15.6% | $5.0M-18.3% | $6.2M+34.6% | $4.6M+2.6% | $4.5M-13.6% | $5.2M-10.0% | $5.8M+37.1% | $4.2M |
| Goodwill | $67.5M-11.9% | $76.6M+0.8% | $76.0M+17.8% | $64.5M-31.8% | $94.6M-5.0% | $99.6M-7.8% | $108.0M-9.0% | $118.7M |
| Total Liabilities | $238.9M+6.3% | $224.8M+1.8% | $220.9M+16.7% | $189.3M-0.8% | $190.7M+11.7% | $170.7M+5.9% | $161.2M-20.3% | $202.2M |
| Current Liabilities | $55.5M+10.0% | $50.4M+1.3% | $49.8M+18.6% | $42.0M-11.4% | $47.4M+57.7% | $30.0M+5.2% | $28.6M-59.4% | $70.3M |
| Long-Term Debt | $153.3M+1.6% | $150.9M+1.4% | $148.9M+16.1% | $128.2M+2.1% | $125.5M+2.1% | $122.9M+1.5% | $121.1M+2.7% | $117.9M |
| Total Equity | $119.3M-18.2% | $145.8M-1.5% | $148.1M+10.4% | $134.1M+1.5% | $132.2M-17.1% | $159.5M+1.4% | $157.3M+30.0% | $121.0M |
| Retained Earnings | -$80.8M-57.1% | -$51.4M-0.6% | -$51.1M-14.8% | -$44.5M+3.8% | -$46.2M-144.6% | -$18.9M+8.7% | -$20.7M+62.0% | -$54.6M |
SHWZ Cash Flow Statement
| Metric | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.5M-50.3% | $6.9M+158.8% | $2.7M+405.0% | -$880K-114.1% | $6.3M-39.2% | $10.3M+176.4% | -$13.5M-472.3% | $3.6M |
| Capital Expenditures | $1.1M-46.7% | $2.1M+15.2% | $1.8M-38.5% | $2.9M+94.7% | $1.5M-72.5% | $5.4M+22.6% | $4.4M+67.7% | $2.6M |
| Free Cash Flow | $2.4M-51.8% | $4.9M+447.0% | $893K+123.5% | -$3.8M-179.6% | $4.8M-2.0% | $4.9M+127.1% | -$17.9M-1930.5% | $979K |
| Investing Cash Flow | -$1.2M+75.3% | -$4.7M+73.1% | -$17.6M-507.2% | -$2.9M+48.2% | -$5.6M-3.0% | -$5.4M-235.4% | -$1.6M+97.4% | -$62.3M |
| Financing Cash Flow | -$2.7M-8.4% | -$2.5M | N/A | N/A | -$437K | $0+100.0% | -$27.1M-195.5% | $28.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SHWZ Financial Ratios
| Metric | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.2%-29.6pp | 45.9%-12.0pp | 57.9%+0.3pp | 57.6%+3.5pp | 54.1%+2.1pp | 52.0%-4.8pp | 56.8%+22.4pp | 34.4% |
| Operating Margin | -37.5%-56.6pp | 19.1%+7.4pp | 11.7%-2.4pp | 14.1%+20.4pp | -6.2%-32.0pp | 25.7%+5.3pp | 20.4%+35.5pp | -15.1% |
| Net Margin | -67.8%-67.1pp | -0.7%+14.9pp | -15.6%-20.0pp | 4.4%+72.5pp | -68.1%-72.3pp | 4.2%-72.3pp | 76.4%+160.7pp | -84.3% |
| Return on Equity | N/A | N/A | N/A | 1.3% | N/A | 1.1%-20.4pp | 21.5% | N/A |
| Return on Assets | -8.2%-8.1pp | -0.1%+1.7pp | -1.8%-2.3pp | 0.5%+9.0pp | -8.5%-9.0pp | 0.5%-10.1pp | 10.6%+19.1pp | -8.4% |
| Current Ratio | 0.97-0.3 | 1.28-0.1 | 1.34-0.4 | 1.77+0.3 | 1.51-0.9 | 2.38+0.0 | 2.34+1.3 | 1.02 |
| Debt-to-Equity | 1.28+0.2 | 1.03+0.0 | 1.01+0.0 | 0.960.0 | 0.95+0.2 | 0.770.0 | 0.77-0.2 | 0.97 |
| FCF Margin | 5.4%-5.0pp | 10.4%+8.3pp | 2.1%+11.6pp | -9.5%-21.3pp | 11.9%+0.6pp | 11.3%+51.7pp | -40.5%-43.6pp | 3.1% |
Note: The current ratio is below 1.0 (0.97), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Medicine Man's annual revenue?
Medicine Man (SHWZ) reported $172.4M in total revenue for fiscal year 2023. This represents a 8.2% 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 Medicine Man's revenue growing?
Medicine Man (SHWZ) revenue grew by 8.2% year-over-year, from $159.4M to $172.4M in fiscal year 2023.
Is Medicine Man profitable?
No, Medicine Man (SHWZ) reported a net income of -$34.5M in fiscal year 2023, with a net profit margin of -20.0%.
What is Medicine Man's earnings per share (EPS)?
Medicine Man (SHWZ) reported diluted earnings per share of $-0.66 for fiscal year 2023. This represents a -34.7% 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.
What is Medicine Man's EBITDA?
Medicine Man (SHWZ) had EBITDA of $24.2M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Medicine Man have?
As of fiscal year 2023, Medicine Man (SHWZ) had $19.2M in cash and equivalents against $153.3M in long-term debt.
What is Medicine Man's gross margin?
Medicine Man (SHWZ) had a gross margin of 44.1% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.
What is Medicine Man's operating margin?
Medicine Man (SHWZ) had an operating margin of 1.9% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.
What is Medicine Man's net profit margin?
Medicine Man (SHWZ) had a net profit margin of -20.0% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.
What is Medicine Man's free cash flow?
Medicine Man (SHWZ) generated $4.3M in free cash flow during fiscal year 2023. This represents a 159.3% 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 Medicine Man's operating cash flow?
Medicine Man (SHWZ) generated $12.2M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are Medicine Man's total assets?
Medicine Man (SHWZ) had $358.1M in total assets as of fiscal year 2023, including both current and long-term assets.
What are Medicine Man's capital expenditures?
Medicine Man (SHWZ) invested $7.9M in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.
How many shares does Medicine Man have outstanding?
Medicine Man (SHWZ) had 74M shares outstanding as of fiscal year 2023.
What is Medicine Man's current ratio?
Medicine Man (SHWZ) had a current ratio of 0.97 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is Medicine Man's debt-to-equity ratio?
Medicine Man (SHWZ) had a debt-to-equity ratio of 1.28 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Medicine Man's return on assets (ROA)?
Medicine Man (SHWZ) had a return on assets of -9.7% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is Medicine Man's Altman Z-Score?
Medicine Man (SHWZ) has an Altman Z-Score of 0.19, 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 Medicine Man's Piotroski F-Score?
Medicine Man (SHWZ) has a Piotroski F-Score of 2 out of 9, indicating weak 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Medicine Man's earnings high quality?
Medicine Man (SHWZ) has an earnings quality ratio of -0.35x, considered mixed quality. 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 Medicine Man cover its interest payments?
Medicine Man (SHWZ) has an interest coverage ratio of 0.1x, 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.
How financially healthy is Medicine Man?
Medicine Man (SHWZ) scores 31 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.