High Tide Inc. (HITI) Balance Sheet
HITI balance sheet, FY2025
October 31, 2025 · Canadian dollarsC$349.1M assets = C$246.3M liabilities + C$102.8M equity
Both columns are drawn to the same scale: what HITI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HITI financial health
Current ratio1.37
Adequate · current assets cover current liabilities 1.37×
Debt / equity1.70
High leverage · C$1.70 of debt for each $1 of equity
Equity / assets25.1%
Balanced · of assets funded by shareholders
Cash / debt32.2%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles37.1%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal FY2025.
HITI balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | C$10.4MFY2016 | C$349.1MFY2025 | +47.7%/yr | |
| Total liabilities | C$20.3MFY2016 | C$246.3MFY2025 | +32.0%/yr | |
| Shareholders’ equity | −C$9.9MFY2016 | C$87.6MFY2025 | — | |
| Cash & short-term investments | C$1.3MFY2016 | C$47.9MFY2025 | +49.6%/yr | |
| Total debt | C$19.2MFY2016 | C$148.9MFY2025 | +25.6%/yr | |
| Net cash (debt) | −C$17.9MFY2016 | −C$101.0MFY2025 | −C$83.1M | |
| Working capital | −C$10.5MFY2016 | C$37.0MFY2025 | +C$47.4M | |
| Current ratio | 0.48FY2016 | 1.37FY2025 | +0.89 | |
| Debt / equity | 0.00FY2018 | 1.70FY2025 | +1.70 | |
| Shares outstanding | 45.3MFY2016 | 82.2MFY2025 | +6.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HITI assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
HITI liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
HITI debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HITI balance sheet in Canadian dollars
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | C$47.9M | C$66.8M | C$30.3M | C$25.3M | C$14.9M | C$7.6M | C$856,000 | C$8.2M | C$1.8M | C$1.3M |
| Cash & equivalents | C$47.9M | C$65.8M | C$30.1M | C$25.1M | C$14.0M | C$7.5M | C$806,000 | C$8.2M | C$1.1M | C$1.1M |
| Short-term investments | C$64,000 | C$712,000 | C$141,000 | C$195,000 | C$860,000 | C$50,000 | C$50,000 | C$0 | C$697,874 | C$162,916 |
| Receivables | C$5.6M | C$4.6M | C$7.6M | C$7.9M | C$6.5M | C$2.9M | C$2.6M | C$917,000 | C$1.7M | C$1.1M |
| Inventory | C$67.4M | C$40.8M | C$26.0M | C$23.4M | C$17.0M | C$5.7M | C$6.7M | C$3.5M | C$3.5M | C$3.7M |
| Other current assets | C$15.9M | C$7.2M | C$4.8M | C$7.5M | C$7.9M | C$3.1M | C$2.5M | C$4.9M | C$3.4M | C$3.7M |
| Total current assets | C$136.9M | C$119.4M | C$68.6M | C$64.1M | C$46.3M | C$19.3M | C$12.7M | C$17.5M | C$10.5M | C$9.8M |
| Property, plant & equipment (net) | C$77.2M | C$89.1M | C$57.8M | C$62.0M | C$52.7M | C$29.5M | C$12.4M | C$3.6M | C$101,251 | C$79,337 |
| Goodwill & intangible assets | C$129.5M | C$129.2M | C$103.5M | C$145.5M | C$142.3M | C$18.0M | C$12.2M | C$934,040 | C$0 | C$0 |
| Long-term investments | C$0 | C$0 | C$179,000 | C$203,000 | C$506,000 | C$1.7M | C$0 | C$0 | C$0 | C$0 |
| Other non-current assets | C$5.4M | C$5.0M | C$3.3M | C$3.0M | C$4.4M | C$1.3M | C$3.4M | C$3.9M | C$561,175 | C$522,624 |
| Total assets | C$349.1M | C$342.7M | C$233.4M | C$274.7M | C$246.2M | C$69.8M | C$40.7M | C$25.9M | C$11.1M | C$10.4M |
| Liabilities | ||||||||||
| Accounts payable | C$27.8M | C$11.2M | C$8.4M | C$7.7M | C$8.7M | C$6.4M | C$4.4M | C$2.5M | C$675,283 | C$445,392 |
| Short-term debt | C$27.5M | C$49.7M | C$32.2M | C$26.7M | C$12.3M | C$18.6M | C$4.3M | C$42,000 | C$642,845 | C$19.2M |
| Deferred revenue | C$8.0M | C$2.8M | C$1.4M | C$641,000 | C$185,000 | C$1.7M | — | — | C$800,778 | — |
| Total current liabilities | C$99.9M | C$85.6M | C$58.1M | C$59.9M | C$40.8M | C$27.5M | C$10.8M | C$2.6M | C$20.7M | C$20.3M |
| Long-term debt | C$81.4M | C$7.5M | C$12.5M | C$17.0M | C$19.1M | C$13.9M | C$19.7M | C$0 | C$0 | C$0 |
| Lease obligations | C$49.8M | C$40.2M | C$35.0M | C$33.8M | C$29.8M | C$16.7M | C$17,000 | C$23,440 | C$54,740 | — |
| Other long-term liabilities | C$65.0M | C$47.0M | C$29.1M | C$35.7M | C$34.3M | C$16.7M | C$810,000 | C$17,000 | C$21,833 | C$25,239 |
| Total liabilities | C$246.3M | C$140.2M | C$99.7M | C$112.7M | C$94.2M | C$58.1M | C$31.3M | C$2.6M | C$20.8M | C$20.3M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | C$329.6M | C$300.6M | C$288.0M | C$279.5M | C$208.9M | C$32.6M | C$26.3M | C$35.7M | C$667,625 | C$6 |
| Retained earnings (deficit) | −C$260.1M | −C$209.1M | −C$205.9M | −C$168.1M | −C$87.8M | −C$34.4M | −C$26.7M | −C$30.2M | −C$10.4M | −C$9.9M |
| Accumulated other comprehensive income | C$7.3M | C$11.5M | C$5.3M | C$5.7M | −C$648,000 | −C$487,000 | −C$366,000 | C$17.8M | C$51,021 | — |
| Minority interest | C$15.2M | C$2.2M | C$2.1M | C$5.7M | — | — | — | — | — | — |
| Total shareholders' equity | C$87.6M | C$199.4M | C$131.6M | C$156.3M | C$147.2M | C$10.2M | C$9.6M | C$23.3M | −C$9.7M | −C$9.9M |
| Key figures | ||||||||||
| Total debt | C$148.9M | C$103.9M | C$72.5M | C$69.9M | C$55.4M | C$47.0M | C$24.0M | C$59,000 | C$664,678 | C$19.2M |
| Net cash (debt) | −C$101.0M | −C$37.1M | −C$42.3M | −C$44.6M | −C$40.6M | −C$39.4M | −C$23.2M | C$8.1M | C$1.1M | −C$17.9M |
| Working capital | C$37.0M | C$33.8M | C$10.5M | C$4.1M | C$5.5M | −C$8.2M | C$1.9M | C$14.9M | −C$10.3M | −C$10.5M |
| Tangible book value | −C$41.9M | C$70.2M | C$28.1M | C$10.9M | C$4.9M | −C$7.9M | −C$2.6M | C$22.4M | −C$9.7M | −C$9.9M |
| Shares outstanding | 82.2M | 79.6M | 74.3M | 62.8M | 42.4M | 15.3M | 13.2M | 13.1M | 13.1M | 45.3M |
| Current ratio | 1.37 | 1.40 | 1.18 | 1.07 | 1.13 | 0.70 | 1.18 | 6.76 | 0.50 | 0.48 |
| Quick ratio | 0.54 | 0.83 | 0.65 | 0.55 | 0.52 | 0.38 | 0.32 | 3.52 | 0.17 | 0.12 |
| Debt / equity | 1.70 | 0.52 | 0.55 | 0.45 | 0.38 | 4.62 | 2.51 | 0.00 | — | — |
| Equity / assets | 25.1% | 58.2% | 56.4% | 56.9% | 59.8% | 14.6% | 23.5% | 90.0% | −86.9% | −94.8% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | C$47.2M | C$27.5M | C$37.4M | C$47.9M | C$63.9M | C$35.0M | C$34.1M | C$48.0M | C$36.0M | C$35.3M | C$28.7M | C$30.3M |
| Cash & equivalents | C$47.1M | C$27.4M | C$37.3M | C$47.9M | C$63.8M | C$34.7M | C$33.3M | C$47.3M | C$35.3M | C$34.5M | C$28.7M | C$30.1M |
| Short-term investments | C$70,035 | C$58,000 | C$89,000 | C$64,000 | C$64,000 | C$303,000 | C$712,000 | C$712,000 | C$712,000 | C$725,000 | C$63,000 | C$141,000 |
| Receivables | C$10.2M | C$7.7M | C$8.7M | C$5.6M | C$3.6M | C$2.8M | C$3.5M | C$3.3M | C$2.6M | C$3.9M | C$4.5M | C$7.6M |
| Inventory | C$67.5M | C$71.7M | C$66.7M | C$67.4M | C$31.3M | C$28.2M | C$30.4M | C$29.3M | C$29.1M | C$28.1M | C$25.4M | C$26.0M |
| Other current assets | C$21.2M | C$24.5M | C$21.9M | C$15.9M | C$4.9M | C$8.1M | C$5.8M | C$5.2M | C$8.0M | C$5.1M | C$6.6M | C$4.8M |
| Total current assets | C$146.1M | C$131.4M | C$134.6M | C$136.9M | C$103.6M | C$74.0M | C$73.7M | C$85.8M | C$75.7M | C$72.4M | C$65.3M | C$68.6M |
| Property, plant & equipment (net) | C$89.9M | C$85.3M | C$79.7M | C$77.2M | C$64.1M | C$64.1M | C$65.8M | C$64.0M | C$63.1M | C$61.7M | C$60.5M | C$57.8M |
| Goodwill & intangible assets | C$129.7M | C$124.5M | C$127.4M | C$129.5M | C$89.5M | C$90.6M | C$92.5M | C$92.8M | C$97.3M | C$98.1M | C$99.4M | C$103.5M |
| Long-term investments | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$179,000 |
| Other non-current assets | C$3.8M | C$6.7M | C$4.8M | C$5.4M | C$3.2M | C$3.3M | C$3.6M | C$3.6M | C$2.3M | C$2.2M | C$2.1M | C$3.3M |
| Total assets | C$369.5M | C$347.9M | C$346.4M | C$349.1M | C$260.4M | C$232.0M | C$235.7M | C$246.2M | C$238.5M | C$234.5M | C$227.3M | C$233.4M |
| Liabilities | ||||||||||||
| Accounts payable | C$26.2M | C$36.1M | C$30.1M | C$27.8M | C$6.2M | C$8.1M | C$6.5M | C$8.1M | C$8.5M | C$8.4M | C$6.2M | C$8.4M |
| Short-term debt | C$25.7M | C$18.2M | C$26.6M | C$27.5M | C$19.8M | C$20.8M | C$22.1M | C$35.7M | C$36.2M | C$37.5M | C$36.6M | C$32.2M |
| Deferred revenue | C$6.8M | C$3.3M | C$5.0M | C$8.0M | C$5.9M | C$2.6M | C$1.8M | C$2.0M | C$2.3M | C$2.0M | C$1.6M | C$1.4M |
| Total current liabilities | C$97.6M | C$89.9M | C$93.8M | C$99.9M | C$56.1M | C$47.2M | C$45.8M | C$61.5M | C$60.1M | C$61.8M | C$57.8M | C$58.1M |
| Long-term debt | C$0 | C$82.5M | C$82.2M | C$81.4M | C$30.3M | C$12.3M | C$12.1M | C$7.5M | C$55,000 | C$361,000 | C$77,000 | C$12.5M |
| Lease obligations | — | C$57.7M | C$52.9M | C$49.8M | C$40.0M | C$39.8M | C$41.7M | C$40.2M | C$38.4M | C$37.6M | C$36.4M | C$35.0M |
| Other long-term liabilities | C$151.9M | C$73.5M | C$68.4M | C$65.0M | C$30.5M | C$30.6M | C$32.6M | C$31.7M | C$30.7M | C$30.1M | C$29.4M | C$29.1M |
| Total liabilities | C$249.5M | C$246.0M | C$244.4M | C$246.3M | C$116.9M | C$90.1M | C$90.6M | C$100.7M | C$90.8M | C$92.3M | C$87.2M | C$99.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | C$334.3M | C$331.1M | C$331.1M | C$329.6M | C$303.0M | C$301.4M | C$301.1M | C$300.6M | C$299.5M | C$296.3M | C$294.6M | C$288.0M |
| Retained earnings (deficit) | −C$247.9M | −C$259.1M | −C$258.9M | −C$260.1M | −C$214.5M | −C$215.1M | −C$212.2M | −C$209.4M | −C$204.7M | −C$206.1M | −C$205.7M | −C$205.9M |
| Accumulated other comprehensive income | −C$23.2M | C$6.5M | C$7.0M | C$7.3M | C$11.4M | C$6.7M | C$7.7M | C$6.8M | C$10.5M | C$13.0M | C$17.5M | C$5.3M |
| Minority interest | — | C$13.3M | C$13.6M | C$15.2M | C$2.1M | C$1.9M | — | — | — | — | — | — |
| Total shareholders' equity | C$105.3M | C$88.7M | C$88.4M | C$87.6M | C$141.4M | C$140.1M | C$142.7M | C$143.3M | C$145.1M | C$139.8M | C$137.7M | C$131.6M |
| Key figures | ||||||||||||
| Total debt | C$123.5M | C$148.5M | C$151.8M | C$148.9M | C$80.4M | C$63.4M | C$66.5M | C$74.6M | C$66.4M | C$67.6M | C$65.3M | C$72.5M |
| Net cash (debt) | −C$76.3M | −C$121.0M | −C$114.5M | −C$101.0M | −C$16.5M | −C$28.4M | −C$32.5M | −C$26.6M | −C$30.5M | −C$32.4M | −C$36.6M | −C$42.3M |
| Working capital | C$48.5M | C$41.4M | C$40.7M | C$37.0M | C$47.5M | C$26.8M | C$27.9M | C$24.3M | C$15.6M | C$10.6M | C$7.5M | C$10.5M |
| Tangible book value | −C$24.4M | −C$35.8M | −C$39.0M | −C$41.9M | C$51.9M | C$49.5M | C$50.3M | C$50.5M | C$47.8M | C$41.6M | C$38.2M | C$28.1M |
| Shares outstanding | 94.6M | 87.9M | 87.7M | 87.5M | 88.6M | 80.9M | 79.6M | 79.6M | 81.1M | 79.0M | 78.1M | 75.3M |
| Current ratio | 1.50 | 1.46 | 1.43 | 1.37 | 1.85 | 1.57 | 1.61 | 1.40 | 1.26 | 1.17 | 1.13 | 1.18 |
| Quick ratio | 0.59 | 0.39 | 0.49 | 0.54 | 1.20 | 0.80 | 0.82 | 0.83 | 0.64 | 0.63 | 0.57 | 0.65 |
| Debt / equity | 1.17 | 1.67 | 1.72 | 1.70 | 0.57 | 0.45 | 0.47 | 0.52 | 0.46 | 0.48 | 0.47 | 0.55 |
| Equity / assets | 28.5% | 25.5% | 25.5% | 25.1% | 54.3% | 60.4% | 60.6% | 58.2% | 60.8% | 59.6% | 60.6% | 56.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed January 29, 2026); data from EODHD.
HITI financial position
At the end of fiscal 2025 (October 31, 2025), High Tide had total assets of C$349.1 million (up 1.9% from a year earlier), total liabilities of C$246.3 million and shareholders' equity of C$87.6 million. It held C$47.9 million in cash and short-term investments against C$148.9 million of debt, net debt of C$101.0 million. Its current ratio was 1.37. In the latest quarter (ended July 31, 2026) total assets were C$369.5 million and equity C$105.3 million.
Related: HITI income statement, HITI cash flow statement, HITI key metrics. See the HITI stock overview for the latest quote and news.
HITI balance sheet FAQ
What are High Tide's total assets?
High Tide reported total assets of C$349.1 million at the end of fiscal 2025 (October 31, 2025), compared with C$342.7 million a year earlier.
How much debt does High Tide have?
High Tide had C$148.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.70.
How much cash does High Tide have?
High Tide held C$47.9 million in cash and short-term investments at the end of fiscal 2025; with C$148.9 million of debt that is net debt of C$101.0 million.
What is High Tide's book value?
High Tide's shareholders' equity (book value) was C$87.6 million at the end of fiscal 2025.
What is High Tide's current ratio?
High Tide had current assets of C$136.9 million and current liabilities of C$99.9 million, a current ratio of 1.37 (it can cover its short-term obligations).
How much goodwill does High Tide have?
High Tide carried C$129.5 million of goodwill and intangible assets, 37.1% of total assets, at the end of fiscal 2025.