CRONCronos Group Inc.
Is the business good?
The checks split: nothing decisive, though margins widening.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Margin-driven, fat margins on slower asset turns. ROE 2% = margin × turnover × leverage.
All from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CRON?
Cronos Group Inc. earns −0.71% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 9.7 points below what the capital costs: growth destroys value
- Operating margin
- −1.4%
Operating margin · Drug Manufacturers - Specialty & Generic median 9.5% · 12 months to Q2 2026
- Share count, year on year
- −2.7%
Share count, year on year · bought back, each share owns more of the company
- R&D as % of revenue
- 3.0%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −470% |
| FY2021 | −452% |
| FY2022 | −128% |
| FY2023 | −97% |
| FY2024 | −65% |
| FY2025 | −12% |
Details›
- Gross margin12 months to Q2 2026
- 46%
- Operating margin12 months to Q2 2026
- −1.4%
- Net margin12 months to Q2 2026
- 39%
- Free cash flow margin
- 28%
- R&D as % of revenue
- 3.0%
- Revenue, trailing twelve months
- $179M
- Free cash flow, trailing twelve months
- $50M
- Net income, trailing twelve months
- $70M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −0.71%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from CRON and who it buys from, as the companies report it.
- Largest customer27%
Share of revenue · FY2025 10-K
- Second largest customer16%
Share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; CRON’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.
Drug Manufacturers, Specialty & Generic
Ranks #31 of 39 by RyuScore