A Business at a Glance
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GrowGeneration Corp. (together with all of its direct and indirect wholly owned subsidiaries, collectively "GrowGeneration" or the "Company") was incorporated in Colorado in 2014. Since then, GrowGeneration has grown from a small chain of specialty retail hydroponic and organic garden centers to a multifaceted business with diverse assets. Today, GrowGeneration operates two major lines of business: our Cultivation and Gardening segment, composed of our hydroponic and organic gardening business; and our Storage Solutions segment, composed of our benching, racking, and storage solutions business. BUSINESS SEGMENTS We have two operating segments, each its own reportable segment, based on our major lines of business: the Cultivation and Gardening segment and the Storage Solutions segment.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 247M | 189M | 226M | 278M | 422M | 193M |
| Net Income | -61M | -50M | -46M | -164M | 13M | 5.3M |
| EPS | $-1.02 | $-0.82 | $-0.76 | $-2.69 | $0.21 | $0.11 |
| Free Cash Flow | 0 | -1.8M | 1.4M | 12M | 5.2M | -213K |
| ROIC | -89.5% | -41.2% | -26.8% | -75.7% | 4.3% | 3.8% |
| Gross Margin | 24.6% | 23.1% | 27.1% | 25.3% | 28.0% | 26.4% |
| Debt/Equity | 0.00 | 0.45 | 0.38 | 0.00 | 0.00 | 0.00 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -64M | -52M | -50M | -168M | 15M | 8.4M |
| Operating Margin | -25.9% | -27.5% | -22.1% | -60.4% | 3.6% | 4.4% |
| ROE | -58.0% | -33.7% | -26.8% | -75.7% | 3.4% | 1.7% |
| Shares Outstanding | 60M | 60M | 61M | 61M | 61M | 48M |
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 14M | 29M | 80M | 193M | 422M | 278M | 226M | 189M | 247M |
| Gross Margin | 22.8% | 22.2% | 28.3% | 26.4% | 28.0% | 25.3% | 27.1% | 23.1% | 24.6% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | -2.9M | -4.3M | 2.1M | 8.4M | 15M | -168M | -50M | -52M | -64M |
| Op. Margin | -19.8% | -14.7% | 2.7% | 4.4% | 3.6% | -60.4% | -22.1% | -27.5% | -25.9% |
| Net Income | -2.5M | -5.1M | 1.9M | 5.3M | 13M | -164M | -46M | -50M | -61M |
| Net Margin | -17.7% | -17.5% | 2.4% | 2.8% | 3.0% | -58.9% | -20.6% | -26.2% | -24.6% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||
| ROIC | -33.2% | -16.7% | 7.4% | 3.8% | 4.3% | -75.7% | -26.8% | -41.2% | -89.5% |
| ROE | -33.5% | -16.9% | 4.5% | 1.7% | 3.4% | -75.7% | -26.8% | -33.7% | -58.0% |
| ROA | -27.5% | -14.1% | 3.5% | 1.5% | 2.8% | -55.8% | -19.4% | -24.0% | -7934.6% |
| Cash Flow | |||||||||
| Op. Cash Flow | -3.4M | -1.5M | -3.3M | -213K | 5.2M | 12M | 1.4M | -1.8M | -8.8M |
| Free Cash Flow | -3.8M | -1.5M | -3.3M | -213K | 5.2M | 12M | 1.4M | -1.8M | 0 |
| Owner Earnings | -4.6M | -3.8M | -6.9M | -11M | -14M | -10M | -18M | -24M | -31M |
| CapEx | 404K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 152K | 351K | 1.0M | 2.4M | 13M | 17M | 17M | 19M | 19M |
| Growth CapEx | 252K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 152K | 351K | 1.0M | 2.4M | 13M | 17M | 17M | 19M | 19M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.0M | 6.0M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.5% | 9.3% |
| Stock-Based Comp | 1.1M | 1.9M | 2.5M | 7.9M | 6.6M | 5.0M | 3.2M | 2.4M | 2.4M |
| Debt Repayment | 56K | 455K | 460K | 111K | 83K | 108K | 50K | 0 | 0 |
| Balance Sheet | |||||||||
| Net Debt | -1.1M | -14M | -13M | -178M | -81M | -72M | N/A | N/A | -48M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 48M |
| Long-Term Debt | 83K | 376K | 242K | 158K | 66K | 50K | N/A | N/A | N/A |
| Debt/Equity | 0.02 | 0.03 | 0.01 | 0.00 | 0.00 | 0.00 | 0.38 | 0.45 | 0.00 |
| Interest Coverage | -185.8 | -180.6 | 47.4 | N/A | N/A | -7994.0 | -513.9 | -742.5 | -742.5 |
| Equity | 7.6M | 30M | 54M | 317M | 371M | 216M | 173M | 120M | 105M |
| Total Assets | 9.3M | 36M | 72M | 355M | 459M | 293M | 239M | 174M | 766K |
| Total Liabilities | 1.7M | 5.8M | 18M | 38M | 88M | 77M | 66M | 54M | 55M |
| Intangibles | 646K | 8.9M | 18M | 84M | 174M | 47M | 24M | 10M | 10M |
| Retained Earnings | -3.7M | -8.8M | -6.9M | -2.6M | 10M | -154M | -200M | -256M | -256M |
| Working Capital | 5.6M | 22M | 31M | 223M | 170M | 135M | 117M | 89M | 89M |
| Current Assets | 7.2M | 25M | 43M | 250M | 217M | 171M | 147M | 113M | 113M |
| Current Liabilities | 1.6M | 3.4M | 12M | 27M | 47M | 36M | 31M | 24M | 24M |
| Per Share Data | |||||||||
| EPS | -0.18 | -0.22 | 0.05 | 0.11 | 0.21 | -2.69 | -0.76 | -0.82 | -1.02 |
| Owner EPS | -0.33 | -0.16 | -0.18 | -0.22 | -0.23 | -0.17 | -0.30 | -0.39 | -0.51 |
| Book Value | 0.54 | 1.30 | 1.43 | 6.54 | 6.10 | 3.55 | 2.83 | 1.99 | 1.75 |
| Cash Flow/Share | -0.24 | -0.07 | -0.09 | -0.00 | 0.08 | 0.20 | 0.02 | -0.03 | -0.69 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 14.1M | 23.1M | 37.6M | 48.4M | 60.9M | 60.9M | 61.2M | 60.4M | 59.8M |
| Valuation | |||||||||
| P/E Ratio | N/A | N/A | 84.6 | 357.4 | 62.3 | N/A | N/A | N/A | -1.1 |
| P/FCF | N/A | N/A | N/A | N/A | 154.5 | 20.2 | 111.1 | N/A | N/A |
| EV/EBIT | N/A | N/A | 68.4 | 204.6 | 47.7 | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 1.6 | 2.9 | 6.0 | 2.1 | 1.1 | 0.9 | 0.8 | 0.6 |
| Price/Sales | N/A | 3.2 | 1.7 | 3.0 | 5.4 | 1.3 | 0.9 | 0.7 | 0.3 |
| FCF Yield | N/A | -3.1% | -2.1% | -0.0% | 0.6% | 5.0% | 0.9% | -1.9% | N/A |
| Market Cap | N/A | 50M | 159M | 1.9B | 797M | 241M | 158M | 93M | 65M |
| Avg. Price | N/A | 4.06 | 3.67 | 11.94 | 37.20 | 6.13 | 3.39 | 2.23 | 1.08 |
| Year-End Price | N/A | 2.15 | 4.23 | 39.31 | 13.09 | 3.96 | 2.58 | 1.54 | 1.08 |
GrowGeneration Corp. passes 3 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 26.0%. Total shareholder yield (buybacks) is 9.3%. At current prices, the estimated annualized return to fair value is +12.3%.
GrowGeneration Corp. (GRWG) has a 5-year average return on invested capital (ROIC) of -27.1%. This is below average and may indicate limited pricing power.
GrowGeneration Corp. (GRWG) has a market capitalization of $65M. It is classified as a small-cap stock.
GrowGeneration Corp. (GRWG) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 9.34%.
GrowGeneration Corp. (GRWG) operates in the Retail-Building Materials, Hardware, Garden Supply industry, within the Consumer Cyclical sector.
GrowGeneration Corp. (GRWG) reported annual revenue of $189 million in its most recent fiscal year, based on SEC EDGAR filings.
GrowGeneration Corp. (GRWG) has a net profit margin of -26.2%. The company is currently unprofitable.
GrowGeneration Corp. (GRWG) generated $-2 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
GrowGeneration Corp. (GRWG) has a debt-to-equity ratio of 0.45. This indicates a conservatively financed balance sheet.
GrowGeneration Corp. (GRWG) reported earnings per share (EPS) of $-0.82 in its most recent fiscal year.
GrowGeneration Corp. (GRWG) has a return on equity (ROE) of -33.7%. A negative ROE may indicate losses or negative equity.
GrowGeneration Corp. (GRWG) has a 5-year average gross margin of 26.0%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 8 years of financial data for GrowGeneration Corp. (GRWG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
GrowGeneration Corp. (GRWG) has a book value per share of $1.99, based on its most recent annual SEC filing.