High Tide Inc. (HITI) Key Metrics
HITI key metrics, FY2016–FY2025
Fiscal year ended October 31, 2025 · Canadian dollarsHITI returns How much profit the business earns on the capital it uses.
HITI financial health Debt, liquidity and how easily interest is covered.
HITI efficiency & capital use Working capital cycle and where the cash goes.
HITI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
HITI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
HITI cash returned to shareholders
HITI key metrics in Canadian dollars
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −35.4% | −2.6% | −27.3% | −47.3% | −43.7% | −70.5% | −159.8% | −66.1% | — | — |
| Return on invested capital (ROIC) | −5.4% | 1.9% | −17.5% | −29.4% | −12.4% | 0.2% | −65.5% | −133.1% | — | 15.3% |
| Return on assets (ROA) | −14.7% | −1.5% | −15.5% | −27.5% | −21.7% | −12.6% | −78.9% | −24.4% | 2.8% | 11.7% |
| Return on tangible assets | −23.1% | −2.0% | −30.3% | −55.5% | −33.1% | −13.5% | −92.0% | −18.1% | 2.7% | 11.7% |
| Free cash flow margin | 2.2% | 4.9% | 3.0% | −1.3% | −7.5% | 7.3% | −79.5% | −148.7% | 10.1% | 3.4% |
| Income quality (OCF / net income) | — | — | — | — | — | — | — | — | 3.51 | 0.24 |
| Financial health | ||||||||||
| 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 |
| 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 |
| Net 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 |
| Debt / equity | 1.70 | 0.52 | 0.55 | 0.45 | 0.38 | 4.62 | 2.51 | 0.00 | — | — |
| Debt / assets | 0.43 | 0.30 | 0.31 | 0.25 | 0.23 | 0.67 | 0.59 | 0.00 | 0.06 | 1.84 |
| Net debt / EBITDA | — | 1.10 | — | — | — | 4.54 | — | — | −1.51 | 10.55 |
| Current ratio | 1.37 | 1.40 | 1.18 | 1.07 | 1.13 | 0.70 | 1.18 | 6.76 | 0.50 | 0.48 |
| Quick ratio | 0.70 | 0.92 | 0.73 | 0.68 | 0.72 | 0.49 | 0.56 | 5.42 | 0.33 | 0.30 |
| Interest coverage | -1.1 | 0.4 | -3.6 | -7.3 | -1.8 | 0.0 | -6.0 | -25.3 | 6.9 | — |
| 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 |
| Invested capital | C$188.6M | C$236.5M | C$173.8M | C$201.0M | C$187.8M | C$49.6M | C$32.7M | C$15.2M | −C$10.8M | C$8.0M |
| Tangible asset value | −C$26.8M | C$73.4M | C$30.2M | C$16.5M | C$9.7M | −C$6.3M | −C$2.8M | C$22.4M | −C$9.7M | −C$9.9M |
| Net current asset value | −C$109.4M | −C$20.8M | −C$31.1M | −C$48.6M | −C$47.9M | −C$38.8M | −C$18.6M | C$14.9M | −C$10.3M | −C$10.5M |
| Capital allocation | ||||||||||
| Dividends paid | C$1.4M | C$199,724 | C$456,652 | C$2.0M | C$0 | C$0 | C$0 | C$1.2M | C$560,007 | C$155,315 |
| Share buybacks (net) | — | — | C$0 | C$0 | — | — | — | — | — | — |
| Dividend payout ratio | — | — | — | — | — | — | — | — | 189.0% | 12.8% |
| Dividends + buybacks / free cash flow | 10.6% | 0.8% | 3.1% | — | — | 0.0% | — | — | 56.5% | 54.1% |
| Capex / revenue | 1.8% | 1.9% | 1.2% | 2.5% | 5.9% | 3.3% | 33.3% | 48.3% | 0.5% | 0.0% |
| Capex / operating cash flow | 44.6% | 27.4% | 29.4% | 201.4% | — | 31.3% | — | — | 4.8% | 0.8% |
| Capex / depreciation | 0.44 | 0.38 | 0.19 | 0.30 | 0.45 | 0.41 | 7.43 | 49.15 | 1.77 | 0.03 |
| Stock-based compensation / revenue | 0.7% | 0.6% | 1.0% | 2.3% | 2.7% | 0.2% | 7.1% | 1.7% | — | — |
| SG&A / revenue | 19.2% | 19.5% | 20.8% | 25.5% | 30.0% | 27.2% | 94.2% | 75.6% | 36.4% | 15.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 3.1 | 4.3 | 5.8 | 7.4 | 9.5 | 12.2 | 20.8 | 54.8 | 52.2 | 48.1 |
| Days of inventory on hand | 44.9 | 32.1 | 25.3 | 28.9 | 35.4 | 43.2 | 93.0 | 226.7 | 250.8 | 335.7 |
| Days payables outstanding | 16.2 | 9.4 | 8.2 | 11.7 | 23.6 | 37.7 | 63.2 | 103.2 | 38.7 | 40.2 |
| Cash conversion cycle (days) | 31.8 | 27.0 | 22.9 | 24.5 | 21.3 | 17.8 | 50.6 | 178.3 | 264.3 | 343.6 |
| Receivables turnover | 116.24 | 85.78 | 62.97 | 49.53 | 38.42 | 29.84 | 17.57 | 6.66 | 7.00 | 7.59 |
| Payables turnover | 22.60 | 38.82 | 44.48 | 31.19 | 15.45 | 9.69 | 5.77 | 3.54 | 9.43 | 9.08 |
| Inventory turnover | 8.14 | 11.37 | 14.43 | 12.65 | 10.30 | 8.45 | 3.92 | 1.61 | 1.46 | 1.09 |
| Asset turnover | 1.72 | 1.81 | 1.92 | 1.37 | 1.15 | 1.51 | 0.94 | 0.47 | 0.91 | 0.80 |
| Average receivables | C$5.1M | C$6.1M | C$7.7M | C$7.2M | C$4.7M | C$2.8M | C$1.8M | C$1.3M | C$1.4M | C$1.1M |
| Average payables | C$19.5M | C$9.8M | C$8.0M | C$8.2M | C$7.6M | C$5.4M | C$3.5M | C$1.6M | C$560,338 | C$445,392 |
| Average inventory | C$54.1M | C$33.4M | C$24.7M | C$20.2M | C$11.4M | C$6.2M | C$5.1M | C$3.5M | C$3.6M | C$3.7M |
| Intangibles / total assets | 37.1% | 37.7% | 44.3% | 53.0% | 57.8% | 25.8% | 29.9% | 3.6% | 0.0% | 0.0% |
Computed from HITI's annual financial statements (latest annual report filed January 29, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Canadian dollars; data from EODHD. Averages use the opening and closing balance of each year.
HITI valuation and financial ratios
High Tide earned a return on equity of −35.4% and a return on invested capital of −5.4% in fiscal 2025. It ended the year with C$148.9 million of debt and C$47.9 million in cash and short-term investments, net debt of C$101.0 million. It returned C$1.4 million to shareholders: C$1.4 million in dividends and C$0 in share buybacks, 11% of free cash flow.
See the HITI income statement, the HITI chart for price history, or the HITI stock overview for the latest quote and news.
HITI key metrics FAQ
What is High Tide's return on equity?
High Tide's return on equity (ROE) was −35.4% in fiscal 2025: net income of -C$50.7 million on average shareholders' equity of C$143.5 million.
What is High Tide's ROIC?
High Tide's return on invested capital was −5.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does High Tide have?
High Tide had total debt of C$148.9 million at the end of fiscal 2025, a debt-to-equity ratio of 1.70.
What is High Tide's current ratio?
High Tide's current ratio was 1.37 at the end of fiscal 2025: current assets were 1.37 times current liabilities.