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 11/10/2023
Credit quality in the Cultivation and Retail sector declined slightly this week after a slight improvement last week. Total liabilities to market cap at 2.73x is higher than last week’s 2.57x reading. Liquidity is unchanged, with the median free cash flow adjusted current ratio at .60x in both weeks. Equity analysts have been slow to change 2024 estimates for the stronger margins and better cash flow generation demonstrated in Q3 releases. Still, we expect this to happen over the next several weeks. The Ohio adult rec legalization will probably only impact the fourth quarter of 2024, but the impact could be significant, as we saw Maryland’s impact in Q3.
Week ended 11/10/2023
Credit quality in the Cultivation and Retail sector declined slightly this week after a slight improvement last week. Total liabilities to market cap at 2.73x is higher than last week’s 2.57x reading. Liquidity is unchanged, with the median free cash flow adjusted current ratio at .60x in both weeks. Equity analysts have been slow to change 2024 estimates for the stronger margins and better cash flow generation demonstrated in Q3 releases. Still, we expect this to happen over the next several weeks. The Ohio adult rec legalization will probably only impact the fourth quarter of 2024, but the impact could be significant, as we saw Maryland’s impact in Q3.
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