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 03/21/2025
Weekly Sector Credit – Cultivation & Retail
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- The median total liabilities to market cap of cultivation and retail sector companies jumped to 2.29x times from last week’s reading of 2.09x, implying approximately 1.24x asset value coverage of liabilities according to our option model.
- Somwhat less favorable is the .25x median value of 2025 EBITDAR to Adjusted Liabilities. The reciprocal of this ratio – 4x is the debt to ebitdar ratio taking into account leases and tax debt. This is still an unsustainable level in a 280e environment, which implies the clock is ticking and we are likely to see increasing signs of credit stress if no progress in made in Washington D.C.
Week ended 03/21/2025
Weekly Sector Credit – Cultivation & Retail
-
- The median total liabilities to market cap of cultivation and retail sector companies jumped to 2.29x times from last week’s reading of 2.09x, implying approximately 1.24x asset value coverage of liabilities according to our option model.
- Somwhat less favorable is the .25x median value of 2025 EBITDAR to Adjusted Liabilities. The reciprocal of this ratio – 4x is the debt to ebitdar ratio taking into account leases and tax debt. This is still an unsustainable level in a 280e environment, which implies the clock is ticking and we are likely to see increasing signs of credit stress if no progress in made in Washington D.C.
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