OrganiGram Holdings Inc. (OGI) Key Metrics
OGI key metrics, FY2016–FY2025
Fiscal year ended September 30, 2025 · Canadian dollarsOGI returns How much profit the business earns on the capital it uses.
OGI financial health Debt, liquidity and how easily interest is covered.
OGI efficiency & capital use Working capital cycle and where the cash goes.
OGI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
OGI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
OGI key metrics in Canadian dollars
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −5.4% | −15.7% | −58.9% | −2.9% | −33.5% | −43.5% | −3.7% | 15.3% | −17.1% | 3.2% |
| Return on invested capital (ROIC) | −18.8% | −12.3% | −58.5% | −8.6% | −17.8% | −34.2% | 1.8% | 28.1% | −24.5% | 8.2% |
| Return on assets (ROA) | −3.7% | −12.9% | −52.4% | −2.5% | −26.4% | −31.5% | −2.6% | 10.4% | −14.8% | 2.5% |
| Return on tangible assets | −3.9% | −11.4% | −79.7% | −2.7% | −24.3% | −31.4% | −2.2% | 6.8% | −12.0% | 1.6% |
| Free cash flow margin | −13.2% | −0.9% | −41.5% | −58.3% | −51.6% | −142.6% | −180.8% | −556.3% | −750.5% | −101.0% |
| Income quality (OCF / net income) | — | — | — | — | — | — | — | −0.62 | — | −2.09 |
| Financial health | ||||||||||
| Total debt | C$8.8M | C$4.5M | C$4.7M | C$3.4M | C$5.9M | C$117.9M | C$49.6M | C$99.2M | C$3.5M | C$7.5M |
| Cash & short-term investments | C$29.0M | C$107.6M | C$33.9M | C$98.6M | C$183.6M | C$74.7M | C$47.9M | C$130.1M | C$34.0M | C$32.6M |
| Net debt | −C$20.3M | −C$103.1M | −C$29.1M | −C$95.2M | −C$177.6M | C$43.2M | C$1.6M | −C$30.9M | −C$30.4M | −C$25.1M |
| Debt / equity | 0.03 | 0.01 | 0.02 | 0.01 | 0.01 | 0.39 | 0.15 | 0.54 | 0.04 | 0.17 |
| Debt / assets | 0.02 | 0.01 | 0.02 | 0.01 | 0.01 | 0.27 | 0.12 | 0.33 | 0.04 | 0.14 |
| Net debt / EBITDA | — | — | — | −8.69 | — | — | 0.13 | −0.75 | — | −12.15 |
| Current ratio | 2.26 | 4.92 | 6.95 | 4.01 | 9.92 | 5.85 | 4.47 | 18.06 | 6.72 | 16.62 |
| Quick ratio | 1.28 | 3.37 | 3.34 | 2.77 | 8.06 | 3.39 | 1.88 | 12.30 | 5.91 | 14.04 |
| Interest coverage | — | — | -873.6 | -90.3 | -24.6 | -24.2 | 0.6 | 3.6 | -42.0 | 2.9 |
| Working capital | C$158.7M | C$208.9M | C$133.5M | C$166.3M | C$234.3M | C$141.1M | C$152.4M | C$192.0M | C$38.0M | C$38.2M |
| Invested capital | C$328.9M | C$202.9M | C$242.5M | C$412.8M | C$302.2M | C$342.7M | C$328.6M | C$153.7M | C$52.6M | C$19.1M |
| Tangible asset value | C$248.1M | C$297.9M | C$261.0M | C$451.8M | C$462.8M | C$297.8M | C$325.5M | C$184.6M | C$80.7M | C$44.3M |
| Net current asset value | C$71.8M | C$160.3M | C$129.1M | C$152.6M | C$186.4M | C$34.6M | C$94.8M | C$85.2M | C$34.9M | C$31.0M |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Share buybacks (net) | — | — | — | — | — | — | C$0 | C$0 | C$0 | C$0 |
| Dividend payout ratio | — | — | — | — | — | — | — | 0.0% | — | 0.0% |
| Capex / revenue | 9.2% | 3.3% | 18.0% | 33.5% | 15.5% | 90.6% | 137.2% | 454.1% | 578.5% | 72.1% |
| Capex / operating cash flow | — | 137.9% | — | — | — | — | — | — | — | — |
| Capex / depreciation | 0.95 | 0.44 | 1.12 | 1.96 | 0.40 | 4.38 | 12.39 | 16.00 | 20.03 | 5.62 |
| Stock-based compensation / revenue | 2.3% | 4.5% | 3.5% | 3.5% | 4.9% | 9.0% | 18.5% | 40.5% | 41.0% | 7.2% |
| R&D / revenue | 5.9% | 7.0% | 8.2% | 4.1% | 4.6% | 1.5% | 0.5% | — | — | — |
| SG&A / revenue | 30.0% | 42.1% | 48.0% | 40.6% | 38.7% | 53.5% | 51.4% | 122.4% | 137.2% | 66.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 100.0 | 73.8 | 90.3 | 84.7 | 88.2 | 60.2 | 28.2 | 71.4 | 190.8 | 69.4 |
| Days of inventory on hand | 210.2 | 265.6 | 238.6 | 187.1 | 204.6 | 236.3 | 1,020.5 | -326.9 | 246.1 | 1,926.6 |
| Days payables outstanding | 138.8 | 109.0 | 97.3 | 95.6 | 61.8 | 73.7 | 292.0 | -79.2 | 175.9 | 802.9 |
| Cash conversion cycle (days) | 171.4 | 230.4 | 231.6 | 176.2 | 231.0 | 222.8 | 756.6 | -176.3 | 261.0 | 1,193.1 |
| Receivables turnover | 3.65 | 4.95 | 4.04 | 4.31 | 4.14 | 6.07 | 12.94 | 5.11 | 1.91 | 5.26 |
| Payables turnover | 2.63 | 3.35 | 3.75 | 3.82 | 5.90 | 4.95 | 1.25 | −4.61 | 2.07 | 0.45 |
| Inventory turnover | 1.74 | 1.37 | 1.53 | 1.95 | 1.78 | 1.54 | 0.36 | −1.12 | 1.48 | 0.19 |
| Asset turnover | 0.38 | 0.45 | 0.34 | 0.26 | 0.16 | 0.20 | 0.22 | 0.06 | 0.07 | 0.18 |
| Average receivables | C$51.0M | C$32.3M | C$36.9M | C$33.8M | C$19.1M | C$14.3M | C$6.2M | C$2.4M | C$2.8M | C$1.2M |
| Average payables | C$68.2M | C$33.6M | C$30.4M | C$29.9M | C$18.2M | C$28.9M | C$25.6M | C$8.5M | C$4.2M | C$1.8M |
| Average inventory | C$103.2M | C$81.7M | C$74.6M | C$58.5M | C$60.3M | C$92.8M | C$89.3M | C$35.1M | C$5.9M | C$4.3M |
| Intangibles / total assets | 18.0% | 2.0% | 3.6% | 9.7% | 3.1% | 0.4% | 0.3% | 0.0% | 2.5% | 0.0% |
Computed from OGI's annual financial statements (latest annual report filed December 16, 2025) 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.
OGI valuation and financial ratios
OrganiGram earned a return on equity of −5.4% and a return on invested capital of −18.8% in fiscal 2025. It ended the year with C$8.8 million of debt and C$29.0 million in cash and short-term investments, a net cash position of C$20.3 million.
See the OGI income statement, the OGI chart for price history, or the OGI stock overview for the latest quote and news.
OGI key metrics FAQ
What is OrganiGram's return on equity?
OrganiGram's return on equity (ROE) was −5.4% in fiscal 2025: net income of -C$17.8 million on average shareholders' equity of C$327.6 million.
What is OrganiGram's ROIC?
OrganiGram's return on invested capital was −18.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does OrganiGram have?
OrganiGram had total debt of C$8.8 million at the end of fiscal 2025, a debt-to-equity ratio of 0.03 and more cash than debt.
What is OrganiGram's current ratio?
OrganiGram's current ratio was 2.26 at the end of fiscal 2025: current assets were 2.26 times current liabilities.