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Cronos Group Inc.

Rank #462Hypergrowth

CRON · Nasdaq · Healthcare

Cronos Group Inc. (CRON) — Rank #462 by gross profitability (GP/assets 0.05) · ROE -0.9% · Piotroski F-Score 6 / 9.

As-of 2026-09-15 · CIK 0001656472 · all metrics point-in-time as of the filing date.

About

Cronos Group Inc., a cannabinoid company, engages in the cultivation, production, distribution, and marketing of cannabis products in Canada, Israel, and internationally.

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It offers dried flowers, pre-rolls, oils, vaporizers, edibles, and tinctures under the Spinach, Lord Jones, Lit, and Peace Naturals brand names.

The company is headquartered in Stayner, Canada.

Industry
Drug Manufacturers - Specialty & Generic
Sector
Healthcare
State
A1
Filer Category
Accelerated filer
Fiscal Year End
December 31

Price History

CRON-51.7% · -13.5% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

$1.17B

P/E (annual)

—

P/S (annual)

8.0

P/B

1.1

P/OCF (annual)

45.2

Shareholder Yield

0.5%

Employees

610

Industry

Drug Manufacturers - Specialty & Generic

Exchange

Nasdaq

Signal Flags

1 green
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 2-quarter streak

Quality Profile

Profitability

1/1 pass
GP / assets
0.05
Return on equity
-0.9%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.06
Current ratio
16.18×
Net cash
$801.55M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
4.8%

Growth

2/2 pass
Revenue growth
24.6%
Piotroski F-Score
6 / 9
Share dilution
-0.5%

Terry Smith quality gate

Passes 0/5 Terry Smith thresholds

2 of 5 thresholds not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

105.5%

stretched

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -0.5% — per-share value needs a total required return of 104.9% once share-count change is priced in.

vs. own 6-year median revenue growth: 29.7%

priced above its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

96.2%

r = 10% (base)

105.5%

r = 12%

113.5%

Net debt / market cap: -65.8%

Base FCF: $149K3Y mean FCF: -$12.9M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / S

Price / revenue per share

7.0xCheap
6.6xmed 17.2x356.2x

P / B

Price / book value per share

0.9xFair
0.7xmed 1.0x17.6x

P / GP

Price / gross profit per share

16.3xCheap
16.3xmed 67.4x712.1x

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.05

Primary signal (Novy-Marx).

6th pctl of 34 SIC 28 peers

Return on equity

-0.9%

Gross margin

42.8%

45th pctl of 34 SIC 28 peers

Revenue growth (YoY)

24.6%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

19.1%

Revenue CAGR (5Y)

25.7%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.06

100th pctl of 31 SIC 28 peers (best = lowest)

Current ratio

16.18×

100th pctl of 34 SIC 28 peers

Quick ratio

14.79×

Net cash

$801.55M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$149.00K

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

1.02

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

4.8%

Stock-based comp intensity.

Piotroski F-Score

F-Score

6 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20202025
Hypergrowth
Startup
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