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 07/11/2025
Weekly Sector Credit – Cultivation and Retail
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- A record two weeks of price gains has improved some of the credit stats and shifted some of the relative rankings.
- We have shifted the focus of our Debt/EBITDA credit ratios to projected 2026 results rather than 2025. Median Debt to 2026 EBITDA is 2.20x as of 7/11/25, a slight improvement from 2.33x as of 7/4/25. This figure continues to show that around ½ of the companies have sustainable leverage even in a continuing 280E environment.
- The total liabilities to market cap ratio also improved to 1.99x from 2.04x last week. The 1.99x median indicates that over 50% of the sector has asset value coverage of liabilities in excess of 140%.
- See the Viridian Credit Sector Report for more details.
Week ended 07/11/2025
Weekly Sector Credit – Cultivation and Retail
-
- A record two weeks of price gains has improved some of the credit stats and shifted some of the relative rankings.
- We have shifted the focus of our Debt/EBITDA credit ratios to projected 2026 results rather than 2025. Median Debt to 2026 EBITDA is 2.20x as of 7/11/25, a slight improvement from 2.33x as of 7/4/25. This figure continues to show that around ½ of the companies have sustainable leverage even in a continuing 280E environment.
- The total liabilities to market cap ratio also improved to 1.99x from 2.04x last week. The 1.99x median indicates that over 50% of the sector has asset value coverage of liabilities in excess of 140%.
- See the Viridian Credit Sector Report for more details.
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