Ayr Wellness (TSE:AYR.A)
:AYR.A
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Ayr Wellness
(AYR.A)
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Rating:40Neutral
Price Target:
C$0.15
▼(-8.13% Downside)
Action:UpgradedDate:12/07/25
Ayr Wellness faces significant financial and operational challenges, with declining profitability, increasing debt, and negative cash flows. Technical indicators suggest bearish momentum, and valuation metrics are poor with a negative P/E ratio. The recent initiation of CCAA proceedings further highlights the company's financial distress.
Ayr Wellness (AYR.A) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$18.10M
Dividend YieldN/A
Average Volume (3M)0.00
Price to Earnings (P/E)―
Beta (1Y)2.41
Revenue Growth0.63%
EPS Growth-31.86%
CountryCA
Employees2,440
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)N/A
Shares Outstanding108,759,750
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.13
Price to Sales (P/S)0.11
P/FCF Ratio-3.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-1.65
Revenue Forecast (FY)C$628.19M
Ayr Wellness Business Overview & Revenue Model
Company Description
Ayr Wellness Inc., a vertically-integrated cannabis multi-state operator, cultivates, manufactures, and retails cannabis products and branded cannabis packaged goods. The company's cannabis and cannabis products include concentrates, edibles, and ...
How the Company Makes Money
Ayr Wellness generates revenue through multiple key streams, primarily from the sale of cannabis products in both retail and wholesale markets. The company operates a network of dispensaries that sell its branded products directly to consumers, wh...
Ayr Wellness Earnings Call Summary
Earnings Call Date:Mar 06, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:May 27, 2026
Earnings Call Sentiment Neutral
The call highlighted strategic moves to strengthen the business through operational streamlining and market expansion, particularly in Ohio. However, significant challenges persist, including price compression and various operational difficulties, leading to a decline in profitability and substantial impairment charges.Positive Updates
Strong Wholesale Revenue Growth
CPG wholesale revenue in 2024 was up 20% year-over-year, with core brands Kynd, Haze, and Later Days up 126% over the prior year.
Negative Updates
Price Compression Across Various Markets
Price compression continued to impact margins, with BDSA flower pricing decreasing sequentially across all markets, ranging from 5% to 12%.
Read all updates
Q4-2024 Updates
Positive
Negative
Strong Wholesale Revenue Growth
CPG wholesale revenue in 2024 was up 20% year-over-year, with core brands Kynd, Haze, and Later Days up 126% over the prior year.
Read all positive updates
Company Guidance
During the Ayr Wellness fourth quarter and full-year 2024 earnings call, Interim CEO Steven Cohen and President George DeNardo discussed the company's strategic focus on sustainable growth and profitability amidst industry challenges. The call highlighted that full-year sales remained flat at $463.6 million compared to the previous year, with retail sales declining by 4% and wholesale sales increasing by 28%. Adjusted gross margin was reported at 51.6%, down from 55% the previous year, primarily due to price compression and a shift in revenue from retail to wholesale. Ayr emphasized its commitment to core markets, including Florida, Ohio, and Pennsylvania, and announced plans to divest non-core assets like those in Illinois. The $10 million CapEx guidance for 2025, excluding potential Virginia investments, reflects a careful approach to capital deployment. Ayr's leadership transition includes the upcoming departure of CFO Brad Asher, with a focus on building a resilient leadership team to drive future success.Ayr Wellness Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 452.90M | 463.63M | 463.63M | 465.62M | 357.61M | 155.11M |
| Gross Profit | 158.83M | 176.68M | 202.44M | 190.44M | 138.10M | 103.10M |
| EBITDA | -96.32M | -154.53M | 84.60M | -67.66M | 87.69M | 17.21M |
| Net Income | -310.37M | -359.31M | -272.43M | -245.47M | -16.95M | -176.33M |
Balance Sheet | ||||||
| Total Assets | 1.26B | 1.27B | 1.46B | 1.76B | 1.86B | 615.87M |
| Cash, Cash Equivalents and Short-Term Investments | 37.64M | 35.48M | 50.77M | 80.64M | 154.34M | 127.24M |
| Total Debt | 634.32M | 621.88M | 597.77M | 621.66M | 483.82M | 190.62M |
| Total Liabilities | 946.67M | 904.31M | 889.20M | 928.56M | 839.85M | 465.01M |
| Stockholders Equity | 324.33M | 379.53M | 581.78M | 833.32M | 1.02B | 150.86M |
Cash Flow | ||||||
| Free Cash Flow | -9.58M | -15.14M | -12.44M | -96.66M | -127.78M | 21.74M |
| Operating Cash Flow | 11.68M | 9.63M | 27.16M | -34.16M | -27.78M | 36.51M |
| Investing Cash Flow | -18.34M | -21.81M | -24.15M | -66.50M | -219.63M | -62.25M |
| Financing Cash Flow | -26.90M | -3.10M | -32.89M | 26.96M | 274.51M | 144.57M |
Ayr Wellness Technical Analysis
Negative
0.16
Price Trends
0.15
Positive
0.16
Negative
0.16
Negative
Market Momentum
>-0.01
Negative
31.35
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AYR.A, the sentiment is Negative. The current price of 0.16 is above the 20-day moving average (MA) of 0.15, above the 50-day MA of 0.15, and above the 200-day MA of 0.16, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 31.35 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:AYR.A.
Ayr Wellness Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | C$2.25B | 16.23 | 6.29% | ― | 6.18% | -28.69% | |
56 Neutral | C$1.63B | ― | -9.71% | ― | 4.27% | 3.41% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | C$2.60B | -8.05 | -28.58% | ― | -3.38% | -31.35% | |
48 Neutral | C$2.17B | -1.75 | -30.10% | ― | -4.58% | -141.91% | |
45 Neutral | C$596.74M | -3.01 | -33.00% | ― | -6.48% | 22.63% | |
40 Neutral | C$18.10M | -0.04 | ― | ― | 0.63% | -31.86% |
* Healthcare Sector Average
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0.16
-0.02
-8.82%
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Ayr Wellness Corporate Events
Business Operations and StrategyLegal Proceedings
AYR Wellness Initiates CCAA Proceedings Amid Restructuring Efforts
Negative
Nov 17, 2025
AYR Wellness Inc. has initiated proceedings under the Companies’ Creditors Arrangement Act in Canada as part of its restructuring efforts. This move is aligned with a previously disclosed Restructuring Support Agreement, which involves trans...
Business Operations and StrategyM&A Transactions
AYR Wellness Completes Auction, Initiates Core Asset Sale
Neutral
Nov 11, 2025
AYR Wellness has announced the successful completion of a public foreclosure auction, resulting in its senior noteholders acquiring core assets through a new acquisition vehicle. This marks a significant milestone in AYR’s restructuring proc...
Business Operations and StrategyLegal ProceedingsPrivate Placements and Financing
AYR Wellness Initiates Article 9 Proceedings in Debt Restructuring
Neutral
Oct 13, 2025
AYR Wellness has announced the commencement of Article 9 proceedings as part of its debt restructuring process with senior noteholders. This phase involves a foreclosure sale of certain assets and equity interests in specified subsidiaries across ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.