OUR 9TH YEAR OF PROVIDING PROPRIETARY CAPITAL MARKETS INTELLIGENCE ON THE CANNABIS / HEMP / PSYCHEDELIC SECTORS

Valuation Tracker By Industry Sector

Valuation Tracker By Sector

The Viridian Value Tracker is the most comprehensive valuation product in the industry.

    • A broad set of 12 valuation measures assures applicability, regardless of whether the company has analyst coverage or revenues.  The typically presented EV/ Projected Revenues and EV/ Projected EBITDA are available for less than 1/3 of the cannabis companies we track.
    • Most valuation studies present only the average valuation measures, while the Tracker goes one step further and shows the distribution of values (the quartiles, median, and dispersion) for each measure. This gives users a more complete view of how companies in the cohort group are valued.

Week ended 09/26/2025

Sector Valuation Report Cultivation & Retail Sector

  • Valuation metrics for the week ended September 26 remained virtually unchanged from the prior week, as the Trump Video had not yet impacted them. We expect significant changes for the coming week. Current valuation metrics for the sector are:
    • Median EV/ 2026 EBITDA: 5.44x (vs 5.46x last week)
    • Median Adj EV/ 2025 EBITDAR: 7.91x (vs 8.00x last week and 8.35x on 8/29/25)
  • Median EV/ 2026 Revenue of 1.09x is unchanged from last week
  • The cannabis capital markets are on hold, awaiting further news from the White House

Week ended 09/26/2025

Sector Valuation Report Cultivation & Retail Sector

  • Valuation metrics for the week ended September 26 remained virtually unchanged from the prior week, as the Trump Video had not yet impacted them. We expect significant changes for the coming week. Current valuation metrics for the sector are:
    • Median EV/ 2026 EBITDA: 5.44x (vs 5.46x last week)
    • Median Adj EV/ 2025 EBITDAR: 7.91x (vs 8.00x last week and 8.35x on 8/29/25)
  • Median EV/ 2026 Revenue of 1.09x is unchanged from last week
  • The cannabis capital markets are on hold, awaiting further news from the White House

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