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Inner Spirit Holdings

CNSX:ISH
Snowflake Description

High growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ISH
CNSX
CA$22M
Market Cap
  1. Home
  2. CA
  3. Retail
Company description

Inner Spirit Holdings Ltd., through its subsidiaries, operates a network of recreational cannabis stores under the Spiritleaf brand. The last earnings update was 89 days ago. More info.


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  • Inner Spirit Holdings has significant price volatility in the past 3 months.
ISH Share Price and Events
7 Day Returns
-4.8%
CNSX:ISH
-1.1%
CA Specialty Retail
0.6%
CA Market
1 Year Returns
-50%
CNSX:ISH
-9.9%
CA Specialty Retail
5.8%
CA Market
ISH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Inner Spirit Holdings (ISH) -4.8% -16.7% -4.8% -50% - -
CA Specialty Retail -1.1% -1.3% 0.6% -9.9% -26.7% -34.3%
CA Market 0.6% 0.5% 3.6% 5.8% 5% 14%
1 Year Return vs Industry and Market
  • ISH underperformed the Specialty Retail industry which returned -9.9% over the past year.
  • ISH underperformed the Market in Canada which returned 5.8% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

ISH Value

 Is Inner Spirit Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Inner Spirit Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Inner Spirit Holdings.

CNSX:ISH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for CNSX:ISH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.817 (1 + (1- 26.5%) (84.45%))
1.217
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.217 * 5.44%)
8.06%

Discounted Cash Flow Calculation for CNSX:ISH using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Inner Spirit Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

CNSX:ISH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 8.06%)
2020 -3.22 Analyst x1 -2.98
2021 2.56 Analyst x1 2.20
2022 4.18 Analyst x1 3.31
2023 7.92 Analyst x1 5.81
2024 14.09 Analyst x1 9.56
2025 19.22 Est @ 36.44% 12.07
2026 24.20 Est @ 25.94% 14.07
2027 28.70 Est @ 18.59% 15.44
2028 32.56 Est @ 13.44% 16.21
2029 35.77 Est @ 9.84% 16.47
Present value of next 10 years cash flows CA$92.00
CNSX:ISH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$35.77 × (1 + 1.44%) ÷ (8.06% – 1.44%)
CA$547.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$547.93 ÷ (1 + 8.06%)10
CA$252.35
CNSX:ISH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$92.00 + CA$252.35
CA$344.35
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$344.35 / 217.09
CA$1.59
CNSX:ISH Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$1.59
Current discount Discount to share price of CA$0.10
= -1 x (CA$0.10 - CA$1.59) / CA$1.59
93.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Inner Spirit Holdings is available for.
Intrinsic value
>50%
Share price is CA$0.1 vs Future cash flow value of CA$1.59
Current Discount Checks
For Inner Spirit Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Inner Spirit Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Inner Spirit Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Inner Spirit Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Inner Spirit Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CNSX:ISH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CAD CA$-0.08
CNSX:ISH Share Price ** CNSX (2020-02-14) in CAD CA$0.1
Canada Specialty Retail Industry PE Ratio Median Figure of 7 Publicly-Listed Specialty Retail Companies 14.1x
Canada Market PE Ratio Median Figure of 511 Publicly-Listed Companies 15.94x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Inner Spirit Holdings.

CNSX:ISH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CNSX:ISH Share Price ÷ EPS (both in CAD)

= 0.1 ÷ -0.08

-1.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Inner Spirit Holdings is loss making, we can't compare its value to the CA Specialty Retail industry average.
  • Inner Spirit Holdings is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Inner Spirit Holdings's expected growth come at a high price?
Raw Data
CNSX:ISH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.29x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
63.2%per year
North America Specialty Retail Industry PEG Ratio Median Figure of 53 Publicly-Listed Specialty Retail Companies 1.37x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.13x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Inner Spirit Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Inner Spirit Holdings's assets?
Raw Data
CNSX:ISH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CAD CA$0.03
CNSX:ISH Share Price * CNSX (2020-02-14) in CAD CA$0.1
Canada Specialty Retail Industry PB Ratio Median Figure of 14 Publicly-Listed Specialty Retail Companies 1.38x
Canada Market PB Ratio Median Figure of 2,341 Publicly-Listed Companies 1.38x
CNSX:ISH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CNSX:ISH Share Price ÷ Book Value per Share (both in CAD)

= 0.1 ÷ 0.03

3.52x

* Primary Listing of Inner Spirit Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Inner Spirit Holdings is overvalued based on assets compared to the CA Specialty Retail industry average.
X
Value checks
We assess Inner Spirit Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Specialty Retail industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Specialty Retail industry average (and greater than 0)? (1 check)
  5. Inner Spirit Holdings has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ISH Future Performance

 How is Inner Spirit Holdings expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
63.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Inner Spirit Holdings expected to grow at an attractive rate?
  • Inner Spirit Holdings's earnings growth is expected to exceed the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Inner Spirit Holdings's earnings growth is expected to exceed the Canada market average.
  • Inner Spirit Holdings's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
CNSX:ISH Future Growth Rates Data Sources
Data Point Source Value (per year)
CNSX:ISH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 63.2%
CNSX:ISH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 28.5%
North America Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 11.5%
Canada Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
Canada Market Earnings Growth Rate Market Cap Weighted Average 10.4%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
CNSX:ISH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CNSX:ISH Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 59 11 1
2023-12-31 48 1 1
2022-12-31 40 2 1
2021-12-31 33 -1 1
2020-12-31 24 -2 -5 1
2020-02-18
2019-12-31 12 -5 -8 1
CNSX:ISH Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-09-30 9 -8 -15
2019-06-30 7 -8 -13
2019-03-31 6 -6 -12
2018-12-31 6 -6 -12
2018-09-30 6 -4 -5
2018-06-30 6 -2 -5
2018-03-31 5 -2 -3
2017-12-31 3 -1 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Inner Spirit Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Inner Spirit Holdings's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
CNSX:ISH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Inner Spirit Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:ISH Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.05 0.05 0.05 1.00
2023-12-31 0.03 0.03 0.03 1.00
2022-12-31 0.01 0.01 0.01 1.00
2021-12-31 -0.01 -0.01 -0.01 1.00
2020-12-31 -0.02 -0.02 -0.02 1.00
2020-02-18
2019-12-31 -0.04 -0.04 -0.04 1.00
CNSX:ISH Past Financials Data
Date (Data in CAD Millions) EPS *
2019-09-30 -0.08
2019-06-30 -0.07
2019-03-31 -0.08
2018-12-31 -0.09
2018-09-30 -0.05
2018-06-30 -0.08
2018-03-31 -0.05
2017-12-31 -0.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Inner Spirit Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Inner Spirit Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Inner Spirit Holdings has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ISH Past Performance

  How has Inner Spirit Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Inner Spirit Holdings's growth in the last year to its industry (Specialty Retail).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Inner Spirit Holdings does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Inner Spirit Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Inner Spirit Holdings's 1-year growth to the CA Specialty Retail industry average as it is not currently profitable.
Earnings and Revenue History
Inner Spirit Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Inner Spirit Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:ISH Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 9.03 -14.69 10.93
2019-06-30 6.59 -13.17 10.27
2019-03-31 6.03 -12.30 8.66
2018-12-31 5.79 -11.69 7.99
2018-09-30 6.22 -5.17 6.71
2018-06-30 5.73 -4.62 5.79
2018-03-31 4.50 -3.01 4.41
2017-12-31 3.49 -1.60 3.08

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Inner Spirit Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Inner Spirit Holdings has efficiently used its assets last year compared to the CA Specialty Retail industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Inner Spirit Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Inner Spirit Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Specialty Retail industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Inner Spirit Holdings has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ISH Health

 How is Inner Spirit Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Inner Spirit Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Inner Spirit Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Inner Spirit Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Inner Spirit Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Inner Spirit Holdings Company Filings, last reported 4 months ago.

CNSX:ISH Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 5.74 8.08 4.86
2019-06-30 8.27 8.00 7.90
2019-03-31 5.90 1.96 2.24
2018-12-31 6.62 0.21 4.64
2018-09-30 11.30 0.00 7.14
2018-06-30 5.46 0.00 2.70
2018-03-31 5.92 0.00 2.86
2017-12-31 3.24 1.59 0.95
  • Inner Spirit Holdings's level of debt (140.9%) compared to net worth is high (greater than 40%).
  • Unable to establish if Inner Spirit Holdings's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Inner Spirit Holdings has less than a year of cash runway based on current free cash flow.
  • Unable to confirm if Inner Spirit Holdings has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Inner Spirit Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Inner Spirit Holdings has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ISH Dividends

 What is Inner Spirit Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Inner Spirit Holdings dividends.
If you bought CA$2,000 of Inner Spirit Holdings shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Inner Spirit Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Inner Spirit Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
CNSX:ISH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Canada Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 3.8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 336 Stocks 3.4%
Canada Minimum Threshold Dividend Yield 10th Percentile 1%
Canada Bottom 25% Dividend Yield 25th Percentile 1.9%
Canada Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

CNSX:ISH Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-02-18
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Inner Spirit Holdings has not reported any payouts.
  • Unable to verify if Inner Spirit Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Inner Spirit Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Inner Spirit Holdings has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Inner Spirit Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Inner Spirit Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Inner Spirit Holdings has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ISH Management

 What is the CEO of Inner Spirit Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Darren Bondar
COMPENSATION CA$280,000
AGE 44
TENURE AS CEO 2.9 years
CEO Bio

Mr. Darren Bondar has been the President and Chief Executive Officer at Inner Spirit Holdings Ltd. since March 16, 2017 and has been its Director since August 2017. Mr. Bondar is responsible for the overall direction and business development. He served as Chief Executive Officer at WATCH IT! Inc. He served as Chief Executive Officer of ISH PrivateCo. since March 16, 2017. Mr. Bondar also served as the President and Chief Executive Officer of Comfortable Image Inc. since 1999. He grew up working alongside his grandfather on the sales floor while he developed his entrepreneurial skills, as his family was in the furniture business for over 60 years. He has over 15 years of experience in the retail industry from WATCH IT! and personal business skills. His passion for the industry and pride in his business has led him to solidify WATCH IT! as the destination for a pair of quality and fashionable sunglasses and watches in the country. He was also selected to the 2010 Class of Avenue Edmonton magazine’s 'Top 40 Under 40' awards. He earned his Bachelor of Arts Degree at the University of Western Ontario and an MBA at the University of Alberta.

CEO Compensation
  • Darren's compensation has increased whilst company is loss making.
  • Darren's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Inner Spirit Holdings management team in years:

2.5
Average Tenure
  • The tenure for the Inner Spirit Holdings management team is about average.
Management Team

Darren Bondar

TITLE
President
COMPENSATION
CA$280K
AGE
44
TENURE
2.9 yrs

Chris Gulka

TITLE
CFO & Director
COMPENSATION
CA$80K
AGE
49
TENURE
2.5 yrs

Christine Kitz

TITLE
Operations Manager

Christine Smith

TITLE
Manager of Marketing & Communications

Debbie Jager

TITLE
Human Resources Manager

Nami Seyfollahy

TITLE
Controller

Jeremy Lee

TITLE
Controller

Michael Ginevsky

TITLE
Corporate Secretary
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the Inner Spirit Holdings board of directors in years:

2.5
Average Tenure
47.5
Average Age
  • The average tenure for the Inner Spirit Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Darren Bondar

TITLE
President
COMPENSATION
CA$280K
AGE
44
TENURE
2.5 yrs

Chris Gulka

TITLE
CFO & Director
COMPENSATION
CA$80K
AGE
49
TENURE
2.5 yrs

Jeff Tung

TITLE
Independent Director
AGE
33
TENURE
2 yrs

Craig Steinberg

TITLE
Director
COMPENSATION
CA$4K
AGE
46
TENURE
2.5 yrs

Larry Wosk

TITLE
Independent Director
AGE
73
TENURE
2.5 yrs

David Margolus

TITLE
Independent Director
AGE
69
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
09. Nov 19 Sell Working Capital Corporation,Asset Management Arm Company 07. Nov 19 07. Nov 19 -125,000 CA$0.13 CA$-15,625
09. Nov 19 Sell Christopher Gulka Individual 06. Nov 19 06. Nov 19 -142,000 CA$0.13 CA$-18,460
27. Jun 19 Buy Working Capital Corporation,Asset Management Arm Company 25. Jun 19 25. Jun 19 125,000 CA$0.20 CA$25,000
16. Apr 19 Sell Darren Bondar Individual 12. Apr 19 12. Apr 19 -235,000 CA$0.20 CA$-47,705
12. Apr 19 Sell Christopher Gulka Individual 09. Apr 19 11. Apr 19 -392,833 CA$0.24 CA$-90,193
X
Management checks
We assess Inner Spirit Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Inner Spirit Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ISH News

Simply Wall St News

Need To Know: Inner Spirit Holdings Ltd. (CNSX:ISH) Insiders Have Been Selling Shares

So we'll take a look at whether insiders have been buying or selling shares in Inner Spirit Holdings Ltd. … For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' View our latest analysis for Inner Spirit Holdings The Last 12 Months Of Insider Transactions At Inner Spirit Holdings In the last twelve months, the biggest single sale by an insider was when the CFO & Director, Christopher Gulka, sold CA$90k worth of shares at a price of CA$0.24 per share. … CNSX:ISH Recent Insider Trading, August 30th 2019 Insider Ownership of Inner Spirit Holdings Many investors like to check how much of a company is owned by insiders.

Simply Wall St -

What Kind Of Investor Owns Most Of Inner Spirit Holdings Ltd. (CNSX:ISH)?

As Charlie Munger said 'Show me the incentive and I will show you the outcome.' Inner Spirit Holdings is a smaller company with a market capitalization of CA$39m, so it may still be flying under the radar of many institutional investors. … Insider Ownership Of Inner Spirit Holdings The definition of company insiders can be subjective, and does vary between jurisdictions. … General Public Ownership The general public, who are mostly retail investors, collectively hold 79% of Inner Spirit Holdings shares.

Simply Wall St -

ISH Company Info

Description

Inner Spirit Holdings Ltd., through its subsidiaries, operates a network of recreational cannabis stores under the Spiritleaf brand. It sells cannabis and accessories through its stores, as well as operates franchise cannabis dispensary. The company also markets, sells, and distributes watches, sunglasses, and related accessories, as well as provides watch repair services. As of January 10, 2020, it operated 43 Spiritleaf stores. The company was incorporated in 2017 and is headquartered in Calgary, Canada.

Details
Name: Inner Spirit Holdings Ltd.
ISH
Exchange: CNSX
Founded: 2017
CA$21,709,083
217,090,837
Website: http://www.innerspiritholdings.com
Address: Inner Spirit Holdings Ltd.
5740 - 2nd Street SW,
Suite 102,
Calgary,
Alberta, T2H 1Y6,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CNSX ISH Common Shares Canadian National Stock Exchange CA CAD 01. Aug 2018
OTCPK INSH.F Common Shares Pink Sheets LLC US USD 01. Aug 2018
Number of employees
Current staff
Staff numbers
77
Inner Spirit Holdings employees.
Industry
Specialty Stores
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/02/18 01:12
End of day share price update: 2020/02/14 00:00
Last estimates confirmation: 2019/11/29
Last earnings filing: 2019/11/21
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.