IM Cannabis Corp. (IMCC) Key Metrics
IMCC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Canadian dollarsIMCC returns How much profit the business earns on the capital it uses.
IMCC financial health Debt, liquidity and how easily interest is covered.
IMCC efficiency & capital use Working capital cycle and where the cash goes.
IMCC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
IMCC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
IMCC key metrics in Canadian dollars
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | −107.4% | −51.2% | −168.7% | −16.7% | −160.5% | −41.9% | 15.6% | −1.1% | −0.1% |
| Return on invested capital (ROIC) | −52.2% | −33.1% | −34.7% | −19.6% | −16.6% | −86.9% | −74.0% | 22.4% | −0.9% | −0.1% |
| Return on assets (ROA) | −31.9% | −24.1% | −17.3% | −108.5% | −10.9% | −83.2% | −47.2% | — | — | — |
| Return on tangible assets | −39.5% | −36.3% | −28.9% | −439.3% | −13.1% | −78.2% | −24.5% | — | — | — |
| Free cash flow margin | 8.6% | −2.3% | −17.7% | −26.1% | −114.4% | −66.9% | −82.7% | −14.9% | −11.9% | — |
| Income quality (OCF / net income) | — | — | — | — | — | — | — | −0.26 | — | — |
| Financial health | ||||||||||
| Total debt | C$16.3M | C$18.0M | C$13.8M | C$11.5M | C$29.3M | C$990,000 | C$1.1M | — | — | C$6,441 |
| Cash & short-term investments | C$2.7M | C$863,000 | C$1.8M | C$2.4M | C$13.9M | C$8.9M | C$13.9M | C$37,000 | C$4,026 | C$170 |
| Net debt | C$13.5M | C$17.1M | C$12.0M | C$9.1M | C$15.4M | −C$7.9M | −C$12.9M | −C$37,000 | −C$4,026 | C$6,271 |
| Debt / equity | — | 3.44 | 0.95 | 0.51 | 0.15 | 0.09 | 0.04 | — | — | 0.00 |
| Debt / assets | 0.51 | 0.46 | 0.28 | 0.19 | 0.10 | 0.03 | 0.03 | — | — | 23.34 |
| Net debt / EBITDA | — | — | — | — | 2.46 | — | — | −0.01 | — | — |
| Current ratio | 0.67 | 0.67 | 0.74 | 0.97 | 1.65 | 4.33 | 9.31 | 0.15 | 0.02 | 0.00 |
| Quick ratio | 0.54 | 0.58 | 0.44 | 0.48 | 1.04 | 2.98 | 7.21 | −21.61 | −3.08 | 0.00 |
| Interest coverage | -4.2 | -2.3 | -3.5 | -15.6 | -34.2 | -0.4 | -14.5 | 36.7 | — | -30.5 |
| Working capital | −C$11.3M | −C$11.6M | −C$8.6M | −C$1.1M | C$33.1M | C$20.9M | C$21.7M | −C$214,650 | −C$456,843 | −C$431,873 |
| Invested capital | C$12.7M | C$22.4M | C$26.4M | C$31.7M | C$216.6M | C$3.2M | C$11.8M | C$10.1M | C$11.3M | C$11.4M |
| Tangible asset value | −C$6.7M | −C$6.9M | −C$2.2M | C$6.1M | C$52.8M | C$11.2M | C$24.9M | −C$218,647 | −C$456,842 | −C$431,872 |
| Net current asset value | −C$12.6M | −C$12.7M | −C$10.8M | −C$4.2M | C$1.9M | C$1.6M | C$19.5M | −C$214,650 | −C$456,843 | −C$431,873 |
| Capital allocation | ||||||||||
| Dividends paid | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | — | — | — |
| Dividends + buybacks / free cash flow | 0.0% | — | — | — | — | — | — | — | — | — |
| Capex / revenue | 0.0% | 0.3% | 1.2% | 2.9% | 13.5% | 17.1% | 17.0% | 14.0% | 9.7% | — |
| Capex / operating cash flow | 0.3% | — | — | — | — | — | — | — | 81.1% | — |
| Capex / depreciation | 0.01 | 0.07 | 0.19 | 0.21 | 0.80 | 2.91 | 2.57 | 4.05 | 5.26 | 0.00 |
| Stock-based compensation / revenue | 0.0% | 0.7% | 0.5% | 6.9% | 21.9% | 21.3% | 29.5% | 51.5% | — | — |
| R&D / revenue | — | — | — | — | 0.0% | 0.9% | 2.6% | 1.6% | — | — |
| SG&A / revenue | 23.6% | 24.6% | 39.0% | 53.2% | 82.5% | 117.8% | 113.9% | 48.5% | 2.8% | — |
| Efficiency | ||||||||||
| Days sales outstanding | 98.9 | 94.6 | 81.7 | 140.1 | 197.8 | 89.3 | 41.7 | 0.6 | 0.2 | — |
| Days of inventory on hand | 30.3 | 52.8 | 124.4 | 192.6 | 260.2 | 468.6 | 388.4 | 1,264.5 | 331.9 | — |
| Days payables outstanding | 94.1 | 81.6 | 114.9 | 118.4 | 109.2 | 121.1 | 43.7 | 88.4 | 44.8 | — |
| Cash conversion cycle (days) | 35.2 | 65.8 | 91.2 | 214.3 | 348.7 | 436.9 | 386.4 | 1,176.7 | 287.3 | — |
| Receivables turnover | 3.69 | 3.86 | 4.47 | 2.61 | 1.85 | 4.09 | 8.76 | 592.66 | 1,682.82 | 0.00 |
| Payables turnover | 3.88 | 4.47 | 3.18 | 3.08 | 3.34 | 3.01 | 8.36 | 4.13 | 8.14 | — |
| Inventory turnover | 12.04 | 6.91 | 2.93 | 1.90 | 1.40 | 0.78 | 0.94 | 0.29 | 1.10 | — |
| Asset turnover | 1.54 | 1.23 | 0.89 | 0.31 | 0.21 | 0.46 | 0.59 | 225.24 | 932.80 | 0.00 |
| Average receivables | C$14.8M | C$14.0M | C$10.9M | C$20.9M | C$18.5M | C$3.9M | C$1.0M | C$8,769 | C$2,610 | C$105 |
| Average payables | C$11.6M | C$10.2M | C$12.3M | C$14.7M | C$8.3M | C$1.8M | C$615,454 | C$242,046 | C$195,302 | C$142,795 |
| Average inventory | C$3.7M | C$6.6M | C$13.3M | C$23.8M | C$19.8M | C$7.0M | C$5.5M | C$3.5M | C$1.4M | — |
| Intangibles / total assets | 9.8% | 25.5% | 32.6% | 29.1% | 53.0% | 3.7% | 3.8% | 10.8% | 0.0% | 0.0% |
Computed from IMCC's annual financial statements (latest annual report filed March 30, 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.
IMCC valuation and financial ratios
IM Cannabis earned a return on invested capital of −52.2% in fiscal 2025. It ended the year with C$16.3 million of debt and C$2.7 million in cash and short-term investments, net debt of C$13.5 million.
See the IMCC income statement, the IMCC chart for price history, or the IMCC stock overview for the latest quote and news.
IMCC key metrics FAQ
What is IM Cannabis's ROIC?
IM Cannabis's return on invested capital was −52.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does IM Cannabis have?
IM Cannabis had total debt of C$16.3 million at the end of fiscal 2025.
Does IM Cannabis pay a dividend?
IM Cannabis did not pay a dividend in fiscal 2025.
What is IM Cannabis's current ratio?
IM Cannabis's current ratio was 0.67 at the end of fiscal 2025: current assets were 0.67 times current liabilities.