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 09/12/2025
Weekly Sector Credit – Agriculture Technology
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- AgTech credit has improved over the last year, but not by enough to be out of the woods as a sector.
- Liquidity is still poor. Although the classic current ratio has a median value of 1.42x, which is not horrible, when we adjust for negative free cash flow with our free cash flow adjusted current ratio, we see a different picture. The median value of .45x still says that over ½ of the 13 companies in the sector will have to get additional funding to make it through the next twelve months.
- The good news is that the median total liabilities to market cap of .86x continues to show solid asset value coverage of liabilities for most companies in the sector.
- What we are most focused on now is seeing a turnaround in the annualized funds from operations/liabilities indicator, which is still flashing red at a median of -.2x. Rescheduling will have an indirect impact; the sector is not directly impacted by 280E, but its customers are. We think S3 will be an important factor in turning this measure back to positive.
Week ended 09/12/2025
Weekly Sector Credit – Agriculture Technology
-
- AgTech credit has improved over the last year, but not by enough to be out of the woods as a sector.
- Liquidity is still poor. Although the classic current ratio has a median value of 1.42x, which is not horrible, when we adjust for negative free cash flow with our free cash flow adjusted current ratio, we see a different picture. The median value of .45x still says that over ½ of the 13 companies in the sector will have to get additional funding to make it through the next twelve months.
- The good news is that the median total liabilities to market cap of .86x continues to show solid asset value coverage of liabilities for most companies in the sector.
- What we are most focused on now is seeing a turnaround in the annualized funds from operations/liabilities indicator, which is still flashing red at a median of -.2x. Rescheduling will have an indirect impact; the sector is not directly impacted by 280E, but its customers are. We think S3 will be an important factor in turning this measure back to positive.
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