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

Valuation Tracker

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Weekly Valuation Tracker

Viridian highlights a specific industry sector and provides a deep dive into valuation metrics and comparable company valuations for public companies operating in that sector.  The Weekly Valuation Tracker provides proprietary, actionable valuation data.

Weekly Valuation Report – Cannabis Catches a Big Two-Week Rally on Little News

  • The cannabis companies in the chart below have increased in price by a median of 32% over the last two weeks, despite very little to no actual news. MAGA influencers are rallying behind rescheduling it, with what appears to be a coordinated messaging effort. What, if anything, does that mean for the rescheduling timeline? We don’t have a clue. One thing is for certain: it’s a testament to the power of rumors when combined with a cannabis stock market that has essentially zero liquidity.
  • The green bars on the graph (measured on the left axis) show the two-week gains for each stock. The range is from a small loss for AYR to over 50% for MariMed. We understand the rise in TerrAscend, which has just completed a major refinancing, but we saw little news to support the gains of most others.
  • The orange bar indicates the current price as a percentage of the 52-week high. Note that, despite the large two-week gains, only Glass House and GTI are over 50% of their 52-week highs. None of the other stocks is above 40% of the 52-week high.
  • The blue line indicates the additional gains needed to return to the 52-week high. Note that most companies would require at least 200% further gains to return to their 52-week highs. Bottom line: there is still a long way to go to recoup any investor losses.
  • We Do think that massive gains will be seen upon rescheduling, especially with SAFER, but, frankly, we have seen this movie too many times.
  • At this point we would rather miss the first 50% than buy into another sucker rally. We will know it’s real when the big dog speaks.

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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.

Sector Valuation Report Agriculture Technology

  • The Ag Tech sector is finally showing some positive valuation metrics, at least with regard to 2026 estimates. Median EV/2026 EBITDA is now 4.66x, benefiting from analysts’ much-improved estimates for the cultivation and retail sector for 2026.
  • Median EV/ annualized revenues is 1.13x, while median EV/ 2026 revenues is .8x
  • Is the sector turnaround finally here? We are not convinced, as we have not yet seen MSOs ramping up capital expenditures. We are happy to see positive EBITDA projections, though, and will be watching upcoming June earnings reports with great interest, not so much for the actual results but for clues from management about business uptrends.
  • See our weekly value sector analysis for more details.

This Chart is Only Available to Higher Tier Memberships

Please Purchase a Premium or Enterprise membership to see more.

Sector Valuation Report Agriculture Technology

  • The Ag Tech sector is finally showing some positive valuation metrics, at least with regard to 2026 estimates. Median EV/2026 EBITDA is now 4.66x, benefiting from analysts’ much-improved estimates for the cultivation and retail sector for 2026.
  • Median EV/ annualized revenues is 1.13x, while median EV/ 2026 revenues is .8x
  • Is the sector turnaround finally here? We are not convinced, as we have not yet seen MSOs ramping up capital expenditures. We are happy to see positive EBITDA projections, though, and will be watching upcoming June earnings reports with great interest, not so much for the actual results but for clues from management about business uptrends.
  • See our weekly value sector analysis for more details.