GRWG
GrowGeneration Corp.
Next earnings Aug 10, 2026 · consensus $-0.04 EPS, $43.0M rev
$1.47
▲ +3.52%$1.47▲ +57.22%
over 1Y
L $0.94H $2.20
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+3.5%
1W+12.2%
1M-13.5%
3M+33.6%
YTD-4.5%
1Y+57.2%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 9 analysts
Buy
Net-cash, sub-book deep-value shell on a shrinking hydroponics retailer — downside is cushioned, but there's no growth catalyst yet.
Revenue (FY2025) $162M · FY2025
GrowGeneration is a melting ice cube wrapped in a strong balance sheet, and the call hinges on which fact you weight. The business has shrunk every year since the 2021 cannabis-cultivation boom: revenue fell from $422M (FY2021) to $162M (FY2025), down another 14.4% YoY, and the company has lost money for four straight years. FY2025 operating income was -$25.6M and net income -$24.0M. Gross margin is only 26.8% and the MD&A is candid that operating cash flow worsened to -$9.4M (from -$1.8M in 2024) on weaker inventory sell-through — so the loss-narrowing headline (net loss roughly halved YoY) is flattered by non-cash items like the $11.3M of D&A and impairment, not by cash generation.
What keeps this off the 'sell/avoid' pile is the balance sheet and the price. There is effectively no debt, liabilities/equity is just 0.51x, and the company reported $46.1M of cash, equivalents and marketable securities against an $85.3M market cap — so over half the market value is net cash, and the enterprise value is only ~$39M on $162M of sales. At $1.42 the stock trades below both book value (~$1.62/share equity) and the 0.5x P/S multiple, which already discounts a great deal of bad news. Management states it is 'adequately funded to support current and future operations for at least one year,' so a near-term liquidity event is not the base case.
Is GRWG a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~60d expiry
- Long 100 shares @ ~1.47
- Short call 1.5 @ ~0.13 est
debit $134max +$16max −$133BE 1.34
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $422M | $278M | $226M | $189M | $162M |
| Gross profit | $118M | $70.3M | $61.3M | $43.7M | $43.3M |
| Operating income | $15.0M | -$168M | -$49.8M | -$52.0M | -$25.6M |
| Net income | $12.8M | -$164M | -$46.5M | -$49.5M | -$24.0M |
| Diluted EPS | $0.21 | -$2.69 | -$0.76 | -$0.82 | -$0.40 |
| Net margin | 3.0% | -58.9% | -20.6% | -26.2% | -14.9% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$57.9M
EV / EBITDA—
EV / Sales0.4
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-27.2%
FCF yield-10.8%
Quality & risk
ROIC (est.)-20.7%
Free cash flow-$9.51M
Total debt$0.00
Net cash$30.4M
Altman Z-Score-0.43 distress
Piotroski F-Score5/9
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+1.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
- 8-K Shareholder vote2026-06-22
Annual meeting results: directors elected, auditor ratified, say-on-pay voted
- 8-K Reg FD disclosure2026-05-12
Q1 FY26: revenue still declining but losses narrowing on cost cuts
- 10-Q Quarterly report2026-05-12
Q1 FY26: revenue still declining but losses narrowing on cost cuts
- DEF 14A Proxy statement2026-04-28
2026 proxy: board slate, exec comp, auditor ratification
- 10-K Annual report2026-03-20
FY25 revenue -14% to $162M; net loss halved to -$24M; cash+secs $46M
- 8-K Reg FD disclosure2026-03-19
Furnished FY2025 full-year earnings press release
- 8-K Officer / director change2025-12-30
Executive/director change plus a related material definitive agreement
- 8-K Reg FD disclosure2025-11-06
Q3'25: soft sales, restructuring continues, losses narrowing YoY
- 10-Q Quarterly report2025-11-06
Q3'25: soft sales, restructuring continues, losses narrowing YoY
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-182026-06-22open ↗4Period ending 2026-06-152026-06-16open ↗4Period ending 2026-06-152026-06-16open ↗4Period ending 2026-06-152026-06-16open ↗4Period ending 2026-05-182026-05-19open ↗10-QPeriod ending 2026-03-312026-05-12open ↗8-KPeriod ending 2026-05-122026-05-12open ↗ARSPeriod ending 2025-12-312026-04-28open ↗DEF 14APeriod ending 2026-06-182026-04-28open ↗10-KPeriod ending 2025-12-312026-03-20open ↗8-KPeriod ending 2026-03-192026-03-19open ↗8-KPeriod ending 2025-12-292025-12-30open ↗
Frequently asked
- Is GrowGeneration Corp. (GRWG) a buy?
- GRWG currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Net-cash, sub-book deep-value shell on a shrinking hydroponics retailer — downside is cushioned, but there's no growth catalyst yet.
- What is GrowGeneration Corp.'s quality score?
- GRWG scores 55.76455858213667/100 (grade C) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001604868, latest 10-Q filed 2026-05-12) · EODHD · Proprietary analysis · as of 6/30/2026, 12:21:45 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 30, 2026, 8:21 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.