Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| GrowGeneration Corp.GRWG · shops | |
|---|---|
| Grade |  D/Eon the D/E boundary of 258 graded peers; percentile 82.5, sampling error 2.9 points; lower is stronger |
| Rank | 213 of 258 |
| Profitability | Cpercentile 51.9 |
| Solvency | Cpercentile 51.3 |
| Growth and financing | Epercentile 89.1 |
| Reliability | 0.87 AUCfailure model, filers with $120M to $591M assets; 95% interval 0.83 to 0.90; 206 events, 2020 to 2025 |
| Peer failure rate | 1.03% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $120M to $591M assetstotal assets $147.0M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none active · fortress balance sheet |
| Inputs computable | 9 of 14 |
| Graded from | filings received through Mar 20, 2026203 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $1.502026-10-08; market equity $88.7M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Mar 20, 2026; the document on sec.gov.
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.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 51.9 | |||||||
| Gross profitability | 29.4% | [1,5] | 42.6% | 68.9 | 242 | 2025-12-31 | |
| Return on invested capital | not computable | 10.9% | |||||
| latest aligned inputs end 2021-12-31; latest annual assets end 2025-12-31 | |||||||
| Accruals ratio | (9.1%) | [1,6-8] | (4.9%) | 28.0 | 287 | 2025-12-31 | |
| Gross margin stability, five years | 1.7 pts | [2,5,9-16] | 1.2 pts | 58.7 | 219 | 2025-12-31 | |
| Solvency, sleeve percentile 51.3 | |||||||
| Twelve-month failure probability | 0.07% | 0.04% | 68.4 | 20 | 2026-06-30 | ||
| Altman Z double-prime | (1.83) | [1,17-22] | 1.92 | 77.8 | 208 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 1.84x | |||||
| latest aligned inputs end 2021-12-31; latest annual assets end 2025-12-31 | |||||||
| Interest coverage | not computable | 2.26x | |||||
| interest expense must exceed $100,000 | |||||||
| Current ratio | 3.99x | [17-18] | 1.37x | 7.8 | 295 | 2025-12-31 | |
| Growth and financing, sleeve percentile 89.1 | |||||||
| Revenue growth, three-year compound | (16.5%) | [2,10,12,14] | 1.5% | 94.8 | 269 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 5.6% | |||||
| four consecutive annual FCF observations are required; found 2 | |||||||
| Reinvestment rate | not computable | 7.3% | |||||
| required facts have no common fiscal period end | |||||||
| Asset growth, three years | (20.6%) | [1,8,23-24] | 3.4% | 94.1 | 272 | 2025-12-31 | |
| Net share issuance, one year | 1.1% | [25-26] | (0.6%) | 78.6 | 211 | 2026-03-16 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.309; sampling error 2.9 percentile points on 258 peers.
Among 258 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 208 | Designer Brands Inc. (DBI) Designer Brands Inc. (DBI) D/Eon the D/E boundary; percentile 80.5 NYSE · Retail-Shoe Stores last close $5.78 No active warnings; 9 of 14 inputs | 80.5 | D/E | |
| 209 | Leslie's, Inc. (LESL) Leslie's, Inc. (LESL) D/Eon the D/E boundary; percentile 80.9 Nasdaq · Retail-Retail Stores, NEC last close $0.10 No active warnings; 8 of 14 inputs | 80.9 | D/E | |
| 210 | Beachbody Company, Inc. (BODI) Beachbody Company, Inc. (BODI) D/Eon the D/E boundary; percentile 81.3 Nasdaq · Retail-Nonstore Retailers last close $4.68 Warnings: fortress balance sheet; 9 of 14 inputs | 81.3 | D/E | fortress balance sheet |
| 211 | Camping World Holdings, Inc. (CWH) Camping World Holdings, Inc. (CWH) D/Eon the D/E boundary; percentile 81.7 NYSE · Retail-Auto Dealers & Gasoline Stations last close $4.49 No active warnings; 7 of 14 inputs | 81.7 | D/E | |
| 212 | Vestis Corp. (VSTS) Vestis Corp. (VSTS) D/Eon the D/E boundary; percentile 82.1 NYSE · Wholesale-Miscellaneous Nondurable Goods market equity $1.9B; last close $13.99 No active warnings; 7 of 14 inputs | 82.1 | D/E | |
| 213 | GrowGeneration Corp. (GRWG) GrowGeneration Corp. (GRWG) D/Eon the D/E boundary; percentile 82.5 Nasdaq · Retail-Building Materials, Hardware, Garden Supply market equity $89.0M; last close $1.50 Warnings: fortress balance sheet; 9 of 14 inputs | 82.5 | D/E | fortress balance sheet |
| 214 | CDW Corp. (CDW) CDW Corp. (CDW) D/Eon the D/E boundary; percentile 82.9 Nasdaq · Retail-Catalog & Mail-Order Houses market equity $17.5B; last close $139.84 No active warnings; 9 of 14 inputs | 82.9 | D/E | |
| 215 | Carriage Services Inc. (CSV) Carriage Services Inc. (CSV) Eweakest fifth; percentile 83.3 NYSE · Services-Personal Services market equity $535.7M; last close $33.77 No active warnings; 10 of 14 inputs | 83.3 | E | |
| 216 | Gold.com, Inc. (GOLD) Gold.com, Inc. (GOLD) Eweakest fifth; percentile 83.7 NYSE · Wholesale-Jewelry, Watches, Precious Stones & Metals market equity $1.2B; last close $41.69 No active warnings; 7 of 14 inputs | 83.7 | E | |
| 217 | TheRealReal, Inc. (REAL) TheRealReal, Inc. (REAL) Eweakest fifth; percentile 84.0 Nasdaq · Retail-Miscellaneous Retail market equity $1.2B; last close $9.62 No active warnings; 8 of 14 inputs | 84.0 | E | |
| 218 | RH (RH) RH (RH) Eweakest fifth; percentile 84.4 NYSE · Retail-Furniture Stores market equity $2.2B; last close $113.66 No active warnings; 10 of 14 inputs | 84.4 | E |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | D | 68.5 | 2204 |
| sector peers, equal sleeves (the grade) | D/E | 82.5 | 258 |
| same exchange, equal sleeves | D | 65.1 | 1219 |
| sector peers, equal inputs | E | 84.4 | 258 |
Each letter is one fifth of the 258 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (13.9%) | (0.1%) | 34 | hotter than 34 of 100 peers |
| Distance from 52-week high | (31.4%) | (24.1%) | 42 | closer to its high than 42 of 100 peers |
| EBIT to enterprise value | (39.0%) | 5.3% | 8 | pricier than 92 of 100 peers |
| Free cash flow yield | (1.8%) | 4.2% | 18 | pricier than 82 of 100 peers |
| Book value to price | 1.01 | 0.36 | 83 | pricier than 17 of 100 peers |
| Sales to price | 1.82 | 1.75 | 51 | pricier than 49 of 100 peers |
| Composite equity issuance, five years | 0.8% | (16.7%) | 79 | more equity-funded than 79 of 100 peers |
| Relative strength against the sector, log excess return | (0.13) | 0.02 | 34 | ahead of 34 of 100 peers |
Inputs: market equity $89.0M; EBIT -$25.6M; free cash flow -$1.6M; book equity $90.0M; sales $161.7M; debt $158,000; cash $23.5M[27].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (13.8%) | ✗ fail[6,8] |
| Operating cash flow above zero | -$9.4M | ✗ fail[7] |
| Return on assets improved | 6.9 pts | ✓ pass[6,8,23,28] |
| Operating cash flow exceeds net income | $14.6M | ✓ pass[6-7] |
| Long-term leverage fell | n/a[1,8,23] | |
| Current ratio improved | (67.0 pts) | ✗ fail[17-18,29-30] |
| No new shares issued | 1.1% | ✗ fail[25-26] |
| Gross margin improved | 3.6 pts | ✓ pass[2,5,9-10] |
| Asset turnover improved | 13.8 pts | ✓ pass[2,8,10,23] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $23.5M[31] |
| Operating cash flow, four quarters | -$6.8M[7,31-35] |
| Months of runway | 41.4 |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 59 |
| 10-Q received Aug 11, 2026 | |
| Median daily dollar volume | $353,713 |
| 63 sessions | |
| Days since newest grade input | 203 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $147.0M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $161.7M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $41.4M | 2021-12-31 | 2023-03-16 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $158,000 | 2021-12-31 | 2022-03-10 | 10-K | filing · viewer · series |
| 5 | gross profit | us-gaap:GrossProfit | $43.3M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 6 | net income | us-gaap:NetIncomeLoss | -$24.0M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 7 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$9.4M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 8 | assets | us-gaap:Assets | $174.4M | 2024-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $43.7M | 2024-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $188.9M | 2024-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $61.3M | 2023-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $225.9M | 2023-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $70.3M | 2022-12-31 | 2025-03-13 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $278.2M | 2022-12-31 | 2025-03-13 | 10-K | filing · viewer · series |
| 15 | gross profit | us-gaap:GrossProfit | $118.2M | 2021-12-31 | 2024-03-13 | 10-K | filing · viewer · series |
| 16 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $422.5M | 2021-12-31 | 2024-03-13 | 10-K | filing · viewer · series |
| 17 | current assets | us-gaap:AssetsCurrent | $103.7M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 18 | current liabilities | us-gaap:LiabilitiesCurrent | $26.0M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 19 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$279.7M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 20 | operating income | us-gaap:OperatingIncomeLoss | -$25.6M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 21 | book equity | us-gaap:StockholdersEquity | $97.5M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 22 | liabilities | us-gaap:Liabilities | $49.5M | 2025-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 23 | assets | us-gaap:Assets | $239.1M | 2023-12-31 | 2025-03-13 | 10-K | filing · viewer · series |
| 24 | assets | us-gaap:Assets | $293.4M | 2022-12-31 | 2024-03-13 | 10-K | filing · viewer · series |
| 25 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 60,090,905 | 2026-03-16 | 2026-03-20 | 10-K | filing · viewer · series |
| 26 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 59,458,017 | 2025-03-10 | 2025-03-13 | 10-K | filing · viewer · series |
| 27 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 58,920,449 | 2026-08-05 | 2026-08-11 | 10-Q | filing · viewer · series |
| 28 | net income | us-gaap:NetIncomeLoss | -$49.5M | 2024-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 29 | current assets | us-gaap:AssetsCurrent | $113.2M | 2024-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 30 | current liabilities | us-gaap:LiabilitiesCurrent | $24.3M | 2024-12-31 | 2026-03-20 | 10-K | filing · viewer · series |
| 31 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $23.5M | 2026-06-30 | 2026-08-11 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$4.1M | 2026-06-30 | 2026-08-11 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$5.0M | 2026-03-31 | 2026-05-12 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$7.2M | 2025-09-30 | 2025-11-06 | 10-Q | filing · viewer · series |
| 35 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$6.8M | 2025-06-30 | 2026-08-11 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 82.5 is 2.5 points from the nearest band edge; sampling error is 2.9 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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