XXII Nasdaq Cigarettes Financials FY2016βFY2025
22nd Century Group, Inc. had $17.6M of revenue in fiscal 2025, down 27.9% on the year before. Over five years, revenue changed β9.0% a year on average.
Last close Β· Oct 23, 2026
$0.20
8.3%Hi! I read 22nd Century Group, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β27.9%
No. Sales fell 27.9% last year.
Does it make a profit?
β28.7%
No. It lost money last year.
Does profit turn into cash?
β44.3%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· 22nd Century Group, Inc. had $17.6M of revenue in fiscal 2025, down 27.9% on the year before. Over five years, revenue changed β9.0% a year on average. Its operating margin was β65.8%, down 8.6Β pts: of every 100 in sales, about β66 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· 22nd Century Group, Inc. lost $5.1M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$7.8M in fiscal 2025, β44.3% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· 22nd Century Group, Inc. has $6.4M more cash than debt.
Cash, debt and the ratios that show how comfortably 22nd Century Group, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $48.7M | $21.2M | $2.1M | $4.4M | $7.1M |
| Debt incl. finance leases | β | $3.9M | $13.9M | $6.7M | $0.7M |
| Debt / equity | β | 0.0x | β | 1.7x | 0.0x |
| Interest coverage | β489.9x | β611.5x | β4.8x | β6.7x | β7.9x |
| Current ratio | 6.5x | 3.4x | 0.7x | 1.2x | 2.4x |
| Quick ratio | 6.1x | 2.9x | 0.5x | 1.0x | 1.8x |
| Total assets | $76.0M | $115M | $27.5M | $21.7M | $27.0M |
| Total liabilities | $9.9M | $18.7M | $35.9M | $17.7M | $8.5M |
| Shareholders' equity | $66.1M | $96.0M | β$8.4M | $4.0M | $15.8M |
| Net debt (β = net cash) | β | β$17.3M | $11.8M | $2.2M | β$6.4M |
KIRA Β· Its return on capital was β98.1%: every 100 invested in the business earned about β98 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· 22nd Century Group, Inc. passes 4 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 8 | 3 / 8 | 2 / 8 | 3 / 7 | 2 / 7 | 2 / 7 | 3 / 8 | 5 / 8 | 4 / 9 |
| Accruals ratio | β6.1% | β1.8% | 12.6% | β16.4% | β6.8% | β15.3% | β8.5% | β120.7% | β3.3% | 11.0% |
| Altman Z'' | β1.04 | 18.72 | 10.91 | 4.72 | β2.89 | 0.84 | β1.53 | β58.20 | β62.86 | β46.55 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $12.3M | $16.6M | $26.4M | $25.8M | $28.1M | $30.9M | $40.5M | $32.2M | $24.4M | $17.6M |
| Gross profit | β$0.4M | β$0.7M | $0.9M | $0.0M | β | β | β | β | $10.1M | $7.4M |
| Research and development | $2.3M | $3.4M | $15.0M | $8.1M | β | $3.9M | $3.6M | $2.6M | $1.1M | $0.7M |
| Operating income | β$11.4M | β$13.3M | β$24.0M | β$23.6M | β$19.2M | β$28.4M | β$33.6M | β$44.9M | β$14.0M | β$11.6M |
| Interest expense | $0.0M | $0.0M | $0.0M | $0.1M | $0.1M | $0.1M | $0.1M | $9.4M | $2.1M | $1.5M |
| Pretax income | β$11.6M | β$13.0M | β$8.0M | β$26.6M | β$19.7M | β$32.6M | β$36.5M | β$54.6M | β$15.5M | β$13.1M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | β$0.0M |
| Net income | β$11.6M | β$13.0M | β$8.0M | β$26.6M | β$19.7M | β$32.6M | β$59.8M | β$141M | β$15.2M | β$5.1M |
| Net income to common | β | β | β | β | β | β | β$59.8M | β$151M | β$25.5M | β$9.7M |
| Diluted EPS | β$0.15 | β$0.13 | β$0.06 | β$0.21 | β$0.14 | β$0.21 | β$4.65 | β$15,925.99 | β$45,711.05 | β$52.87 |
| Diluted shares | 0.08B | 0.10B | 0.12B | 0.13B | 0.14B | 0.16B | 0.01B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||||||||
| Cash from operations | β$9.9M | β$12.1M | β$17.8M | β$14.6M | β$15.6M | β$22.8M | β$51.7M | β$55.0M | β$14.3M | β$7.7M |
| Capital expenditure | β | β | β | $0.5M | $0.1M | $0.7M | $3.7M | $4.7M | $0.1M | $0.1M |
| Free cash flow | β | β | β | β$15.1M | β$15.7M | β$23.6M | β$55.4M | β$59.6M | β$14.5M | β$7.8M |
| Depreciation and amortization | $0.7M | $0.8M | $1.2M | $1.2M | $0.7M | $1.2M | $2.9M | $0.9M | $0.6M | $0.5M |
| Stock-based compensation | $0.9M | $0.9M | $3.2M | $3.5M | $1.7M | $4.0M | $5.5M | $2.7M | $0.4M | $0.4M |
| Acquisitions | β | β | β | β | β | β | $1.3M | $0.3M | β | β |
| Balance sheet | ||||||||||
| Cash and short-term investments | $13.5M | $62.6M | $56.4M | $39.0M | $22.3M | $48.7M | $21.2M | $2.1M | $4.4M | $7.1M |
| Total debt | β | β | β | β | β | β | $3.9M | $13.9M | $6.7M | $0.7M |
| Current assets | $16.8M | $67.6M | $61.2M | $42.7M | $28.3M | $54.4M | $44.6M | $16.3M | $11.5M | $17.6M |
| Current liabilities | $3.2M | $4.3M | $5.2M | $5.8M | $7.3M | $8.4M | $13.0M | $25.0M | $10.0M | $7.3M |
| Inventory | $3.1M | $3.3M | $3.0M | $2.3M | $2.0M | $2.9M | $7.3M | $4.3M | $2.0M | $4.3M |
| Property and equipment, net | $2.4M | $3.3M | $3.3M | $3.7M | $2.5M | $5.8M | $3.7M | $3.4M | $2.8M | $2.4M |
| Goodwill | β | β | β | β | β | $0.0M | $33.2M | $0.0M | β | β |
| Intangible assets | $7.4M | $7.4M | $9.8M | $8.5M | $8.2M | $7.9M | $7.2M | $5.9M | $5.7M | $6.2M |
| Total assets | $27.6M | $79.7M | $77.3M | $69.0M | $51.7M | $76.0M | $115M | $27.5M | $21.7M | $27.0M |
| Total liabilities | $3.3M | $4.3M | $6.0M | $6.9M | $7.6M | $9.9M | $18.7M | $35.9M | $17.7M | $8.5M |
| Shareholders' equity | $24.3M | $75.4M | $71.3M | $62.1M | $44.1M | $66.1M | $96.0M | β$8.4M | $4.0M | $15.8M |
| Margins | ||||||||||
| Gross margin | β3.5% | β4.3% | 3.4% | 0.1% | β | β | β | β | 41.4% | 42.1% |
| Operating margin | β92.7% | β80.1% | β90.9% | β91.2% | β68.2% | β91.8% | β83.0% | β139.5% | β57.2% | β65.8% |
| EBITDA margin | β86.7% | β75.0% | β86.4% | β86.6% | β65.8% | β87.8% | β76.0% | β136.9% | β54.8% | β63.0% |
| Net margin | β94.3% | β78.5% | β30.1% | β102.8% | β70.1% | β105.4% | β147.7% | β437.1% | β62.2% | β28.7% |
| FCF margin | β | β | β | β58.5% | β55.8% | β76.2% | β136.7% | β185.2% | β59.4% | β44.3% |
| Returns | ||||||||||
| Return on capital | β | β | β | β | β | β | β33.8% | β1,032.4% | β176.2% | β98.1% |
| Return on capital employed | β46.7% | β17.6% | β33.3% | β37.3% | β43.3% | β42.1% | β33.1% | β1,819.8% | β119.1% | β58.6% |
| Return on equity | β47.6% | β26.1% | β10.9% | β39.8% | β37.1% | β59.2% | β73.8% | β321.5% | β | β51.1% |
| Return on assets | β41.9% | β24.3% | β10.1% | β36.3% | β32.7% | β51.1% | β62.7% | β198.1% | β61.7% | β20.8% |
| Return on tangible equity | β68.3% | β19.2% | β12.9% | β49.6% | β54.9% | β56.1% | β107.6% | β | β | β102.1% |
| Growth | ||||||||||
| Revenue growth | β | 35.2% | 59.2% | β2.2% | 8.8% | 10.1% | 30.9% | β20.5% | β24.3% | β27.9% |
| Share count change | β | 26.7% | 22.9% | 1.3% | 10.3% | 12.5% | β91.8% | β99.9% | β93.7% | 30,583.3% |
| Financial health | ||||||||||
| Debt / equity | β | β | β | β | β | β | 0.0x | β | 1.7x | 0.0x |
| Interest coverage | β302.1x | β457.0x | β2,183.5x | β420.8x | β266.4x | β489.9x | β611.5x | β4.8x | β6.7x | β7.9x |
| Current ratio | 5.2x | 15.7x | 11.8x | 7.4x | 3.9x | 6.5x | 3.4x | 0.7x | 1.2x | 2.4x |
| Quick ratio | 4.2x | 14.9x | 11.2x | 7.0x | 3.6x | 6.1x | 2.9x | 0.5x | 1.0x | 1.8x |
| Capital allocation | ||||||||||
| Capex / revenue | β | β | β | 2.0% | 0.2% | 2.4% | 9.0% | 14.5% | 0.6% | 0.3% |
| Stock comp / revenue | 7.2% | 5.7% | 12.1% | 13.7% | 5.9% | 12.9% | 13.6% | 8.3% | 1.6% | 2.4% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 3.0 | 2.0 | 3.0 | 2.0 | 2.0 | 3.0 | 5.0 | 4.0 |
| Altman Z'' | β1.0 | 18.7 | 10.9 | 4.7 | β2.9 | 0.8 | β1.5 | β58.2 | β62.9 | β46.5 |
| Accruals ratio | β6.1% | β1.8% | 12.6% | β16.4% | β6.8% | β15.3% | β8.5% | β120.7% | β3.3% | 11.0% |
Source: SEC EDGAR XBRL filings (CIK 0001347858). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
