A Business at a Glance
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SRx Health Solutions, Inc.
SRXH
$418M
Mkt Cap
$1.80
+0.00%
SRx Health Solutions, Inc. (SRXH) has a 5-year average return on invested capital (ROIC) of -40.1%. This is below average and may indicate limited pricing power.
SRx Health Solutions, Inc. (SRXH) has a market capitalization of $61M. It is classified as a small-cap stock.
SRx Health Solutions, Inc. (SRXH) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.23%.
SRx Health Solutions, Inc. (SRXH) operates in the Beverages industry, within the Consumer Defensive sector.
SRx Health Solutions, Inc. (SRXH) generated $-8 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
SRx Health Solutions, Inc. (SRXH) has a debt-to-equity ratio of 10.94. This indicates higher leverage, which may increase financial risk.
SRx Health Solutions, Inc. (SRXH) reported earnings per share (EPS) of $-0.19 in its most recent fiscal year.
ITEM 1. BUSINESS SRx Health Solutions Inc. (“SRx” or the “Company”) is the successor reporting entity following a reverse merger with Better Choice Company, Inc. (“Better Choice” or “BTTR”), the pet health and wellness business. Historically, SRx was engaged in specialty pharmaceuticals and healthcare services, including a series of acquisitions to expand its operations. These legacy operations faced financial difficulties and subsequently filed for bankruptcy, resulting in the winding down of the majority of SRx’s former business. These legacy operations are reported as discontinued operations in the financial statements. The Company’s continuing operations consist of the pet health and wellness business formerly operated by Better Choice. This business is focused on providing high-quality pet products under the Halo brand, including foods, treats, toppers, dental products, chews, and supplements for dogs and cats.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 16M | - | - | 39M | 55M | 46M |
| Net Income | -55M | -45M | -43M | - | - | 3.4M |
| EPS | $-3.20 | $-0.19 | $-0.11 | $-5.28 | $-9.64 | $0.02 |
| Free Cash Flow | 0 | -8.1M | -1.5M | 79K | -21M | -12M |
| ROIC | -111.9% | -94.3% | -36.7% | - | - | 10.6% |
| Gross Margin | 30.1% | - | - | 30.6% | 27.9% | 33.4% |
| Debt/Equity | 5.97 | 10.94 | -0.69 | -0.28 | 0.55 | 0.18 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -16M | -11M | -6.0M | -21M | -39M | -17M |
| Operating Margin | -98.7% | - | - | -54.9% | -71.0% | -37.6% |
| ROE | -1548.9% | 164.5% | 96.9% | - | - | 22.8% |
| Shares Outstanding | 34M | 232M | 403M | 4M | 4M | 148M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 0 | 0 | N/A | N/A | 15M | N/A | 43M | 46M | 55M | 39M | N/A | N/A | 16M |
| Gross Margin | N/A | N/A | N/A | N/A | 49.3% | N/A | 37.8% | 33.4% | 27.9% | 30.6% | N/A | N/A | 30.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | 100K | 500K | 500K | 100K | 100K | N/A | N/A |
| SG&A | 7K | 7K | 132K | 525K | 6.1M | 20M | 34M | 29M | 35M | 24M | 19M | 13M | 21M |
| EBIT | -27K | -25K | -460K | -524K | -5.2M | -36M | -27M | -17M | -39M | -21M | -6.0M | -11M | -16M |
| Op. Margin | N/A | N/A | N/A | N/A | -34.9% | N/A | -64.2% | -37.6% | -71.0% | -54.9% | N/A | N/A | -98.7% |
| Net Income | -51K | -50K | -934K | -1.7M | -6.0M | -185M | -59M | 3.4M | N/A | N/A | -43M | -45M | -55M |
| Net Margin | N/A | N/A | N/A | N/A | -40.8% | N/A | -139.6% | 7.4% | N/A | N/A | N/A | N/A | -330.8% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19M | 8.5M | 20M | -35K | -35K |
| Returns on Capital | |||||||||||||
| ROIC | N/M | N/M | N/M | N/M | N/M | -164.8% | N/M | 10.6% | N/A | N/A | -36.7% | -94.3% | -111.9% |
| ROE | 90.0% | 4.1% | 62.7% | 129.6% | 233.7% | N/A | 338.0% | 22.8% | N/A | N/A | 96.9% | 164.5% | -1548.9% |
| ROA | -791.2% | -1512.0% | -9917.8% | -10576.7% | -200.8% | -620.2% | -113.4% | 5.4% | N/A | N/A | -264.6% | -371.9% | -201.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -23K | -23K | -181K | -40K | -6.9M | -21M | -7.5M | -12M | -21M | 97K | -1.5M | -8.1M | -11M |
| Free Cash Flow | -23K | -23K | -431K | -40K | -6.9M | -21M | -7.7M | -12M | -21M | 79K | -1.5M | -8.1M | 0 |
| Owner Earnings | -27K | -25K | -183K | -40K | -7.4M | -31M | -18M | -18M | -25M | -3.4M | -9.5M | -11M | -16M |
| CapEx | 0 | 0 | 250K | 0 | 31K | 110K | 151K | 353K | 198K | 18K | 41K | 0 | 0 |
| Maint. CapEx | 4K | 2K | 2K | 0 | 38K | 62K | 1.7M | 1.7M | 1.7M | 1.7M | 4.4M | 31K | 945K |
| Growth CapEx | N/A | N/A | 248K | N/A | 0 | 48K | 0 | 0 | 0 | 0 | 0 | N/A | 0 |
| D&A | 4K | 2K | 2K | 0 | 38K | 62K | 1.7M | 1.7M | 1.7M | 1.7M | 4.4M | 31K | 945K |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 18.6% | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 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 | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 6.1M | 0 | 1.6M | 0 | 0 | 206K | 137K | 137K |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.8% | N/A | 1.8% | N/A | N/A | 5.6% | 2.0% | 0.2% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | 431K | 10M | 8.9M | 4.1M | 3.0M | 1.8M | 3.7M | 3.2M | 4.4M |
| Debt Repayment | 0 | 0 | 0 | 155K | 0 | 11M | 6.4M | 140K | 5.6M | 14M | 3.4M | 1.7M | 1.7M |
| Balance Sheet | |||||||||||||
| Net Debt | 16K | 0 | 257K | 397K | 3.3M | 52M | 37M | -11M | 8.6M | 5.1M | 35M | 3.1M | 8.0M |
| Cash & Equiv. | 0 | 0 | 10K | 157K | 3.9M | 2.4M | 3.9M | 22M | 3.2M | 4.5M | 3.1M | 1.3M | 13M |
| Long-Term Debt | N/A | N/A | N/A | 0 | 6.2M | 16M | 25M | 9.4M | 11M | 4.6M | 2.4M | 4.5M | 4.5M |
| Debt/Equity | -0.47 | 0.00 | -0.47 | -0.26 | -2.38 | -7.68 | -1.45 | 0.18 | 0.55 | -0.28 | -0.69 | 10.94 | 5.97 |
| Interest Coverage | -1.1 | -1.0 | -1.1 | -0.7 | -5.9 | -51.9 | -3.0 | -5.4 | -70.4 | -15.7 | -12.8 | -18.2 | -18.2 |
| Equity | -33K | -2.4M | -574K | -2.1M | -3.0M | -7.1M | -28M | 58M | 22M | -34M | -55M | 407K | 3.5M |
| Total Assets | 4K | 2K | 17K | 16K | 6.0M | 54M | 51M | 75M | 39M | 17M | 16M | 8.4M | 27M |
| Total Liabilities | 37K | 2.4M | 591K | 2.1M | 9.0M | 50M | 79M | 17M | 17M | 14M | 71M | 8.0M | 24M |
| Intangibles | N/A | N/A | N/A | N/A | 0 | 15M | 13M | 12M | 10M | N/A | 7.0M | N/A | N/A |
| Retained Earnings | -382K | -431K | -1.4M | -3.1M | -17M | -201M | -261M | -259M | -299M | -321M | -322M | -23M | -32M |
| Working Capital | N/A | N/A | -574K | -1.2M | -3.1M | -15M | -37M | 37M | 22M | 2.5M | -66M | 4.6M | -4.7M |
| Current Assets | 0 | 0 | 17K | 16K | 5.9M | 18M | 18M | 44M | 28M | 16M | 15M | 8.1M | 19M |
| Current Liabilities | 37K | 60K | 591K | 1.2M | 9.0M | 33M | 55M | 7.3M | 5.6M | 14M | 81M | 3.5M | 24M |
| Per Share Data | |||||||||||||
| EPS | -0.00 | -0.00 | -0.00 | -0.01 | -0.24 | -1.82 | -2.38 | 0.02 | -9.64 | -5.28 | -0.11 | -0.19 | -3.20 |
| Owner EPS | -0.00 | -0.00 | -0.00 | -0.00 | -0.30 | -0.31 | -0.73 | -0.12 | -6.17 | -0.75 | -0.02 | -0.05 | -0.48 |
| Book Value | -0.00 | -0.01 | -0.00 | -0.01 | -0.12 | -0.07 | -1.12 | 0.39 | 5.27 | -7.58 | -0.14 | 0.00 | 0.10 |
| Cash Flow/Share | -0.00 | -0.00 | -0.00 | -0.00 | -0.28 | -0.21 | -0.30 | -0.08 | -5.03 | 0.02 | -0.00 | -0.04 | -1.59 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 159.8M | 329.8M | 198.5M | 185.3M | 24.6M | 101.6M | 25.0M | 147.8M | 4.1M | 4.5M | 402.6M | 232.4M | 33.7M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 25.9 | N/A | N/A | N/A | N/A | -0.6 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 197.2 | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.5 | 1.5 | 3.8 | 0.4 | 17.0 | 17.2 |
| Price/Sales | N/A | N/A | N/A | N/A | 65.3 | N/A | 1.7 | 3.3 | 1.7 | 1.3 | 0.3 | N/A | 3.7 |
| FCF Yield | -0.0% | -0.0% | -0.0% | -0.0% | -0.9% | -2.6% | -37.1% | -13.9% | -63.1% | 0.7% | -41.5% | -117.5% | N/A |
| Market Cap | 205M | 424M | 27.2B | 6.8B | 814M | 798M | 21M | 88M | 33M | 11M | 3.7M | 6.9M | 61M |
| Avg. Price | 3,274.97 | 2,729.59 | 5,053.99 | 5,328.96 | 2,467.31 | 946.40 | 259.81 | 188.19 | 79.11 | 14.94 | 4.79 | 1.05 | 1.80 |
| Year-End Price | 161.78 | 161.78 | 8,643.56 | 2,311.11 | 2,080.00 | 711.11 | 74.67 | 107.26 | 27.26 | 3.50 | 1.61 | 0.33 | 1.80 |
SRx Health Solutions, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 30.6%. Total shareholder yield (buybacks) is 0.2%.
SRx Health Solutions, Inc. (SRXH) has a return on equity (ROE) of 164.5%. This indicates the company generates strong returns for shareholders.
SRx Health Solutions, Inc. (SRXH) has a 5-year average gross margin of 30.6%. This indicates decent pricing power.
The Ledger Terminal provides 15 years of financial data for SRx Health Solutions, Inc. (SRXH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SRx Health Solutions, Inc. (SRXH) has a book value per share of $0.00, based on its most recent annual SEC filing.