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 03/01/2024
The Cultivation and Retail segment credit quality is starting to improve based on median liabilities to a market cap of 2.1x and free cash flow adjusted current ratio of .88x. The latter indicates that more than half of the 85 companies are likely to need additional funding during the year but this has improved over the last quarter. Still, the lower quartiles of the credit ratios continue to point to many companies with critical liquidity issues and excess leverage. The worst quartile liquidity score of .24x indicates significant liquidity stress, and the upper quartile of debt to market cap of 5.09 shows that at least nine companies are overleveraged even in a post-rescheduling environment.
Week ended 03/01/2024
The Cultivation and Retail segment credit quality is starting to improve based on median liabilities to a market cap of 2.1x and free cash flow adjusted current ratio of .88x. The latter indicates that more than half of the 85 companies are likely to need additional funding during the year but this has improved over the last quarter. Still, the lower quartiles of the credit ratios continue to point to many companies with critical liquidity issues and excess leverage. The worst quartile liquidity score of .24x indicates significant liquidity stress, and the upper quartile of debt to market cap of 5.09 shows that at least nine companies are overleveraged even in a post-rescheduling environment.
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