OUR 9TH YEAR OF PROVIDING PROPRIETARY CAPITAL MARKETS INTELLIGENCE ON THE CANNABIS / HEMP / PSYCHEDELIC SECTORS
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Credit Tracker By Industry Sector
Credit Tracker By Sector
Credit ratings are not currently available for public cannabis companies leaving companies, lenders and investors with a gap of information. The Viridian Cannabis Credit Tracker fills this gap. The model uses 11 market and financial statement variables to discern 4 key credit factors: Liquidity, Leverage, Profitability, and Size, to provide credit/liquidity analysis for over 370 public Cannabis/Hemp companies.
Week ended 05/17/2024
Weekly Sector Credit
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- This week’s Viridian Chart of the Week investigated the stock performance of different sectors since rescheduling was announced. One surprising result was that of all the sectors on the chart, Software/Media had the worst stock performance.
- Comparing this week’s credit stats to those of 8/25/23, we see that the sector’s credit stats have also deteriorated. The current ratio of .30x is down from .54x at the earlier date. Similarly, our favorite leverage indicator, total liabilities to market cap has also gotten worse, increasing to .63x from .42x previously. Cash flow has also weakened as shown by funds from operation to total liabilities of -.62x compared to -.40x previously. Profitability is also down as measured by the median most recent quarter EBITDA margin, now at -50.0% compared to -37.7% previously.
- Software/Media should get a boost from rescheduling as MSOs have more cash to deploy to technological upgrades.
Week ended 05/17/2024
Weekly Sector Credit
-
- This week’s Viridian Chart of the Week investigated the stock performance of different sectors since rescheduling was announced. One surprising result was that of all the sectors on the chart, Software/Media had the worst stock performance.
- Comparing this week’s credit stats to those of 8/25/23, we see that the sector’s credit stats have also deteriorated. The current ratio of .30x is down from .54x at the earlier date. Similarly, our favorite leverage indicator, total liabilities to market cap has also gotten worse, increasing to .63x from .42x previously. Cash flow has also weakened as shown by funds from operation to total liabilities of -.62x compared to -.40x previously. Profitability is also down as measured by the median most recent quarter EBITDA margin, now at -50.0% compared to -37.7% previously.
- Software/Media should get a boost from rescheduling as MSOs have more cash to deploy to technological upgrades.
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