OUR 9TH YEAR OF PROVIDING PROPRIETARY CAPITAL MARKETS INTELLIGENCE ON THE CANNABIS / HEMP / PSYCHEDELIC SECTORS
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Valuation Tracker By Industry Sector
Valuation Tracker By Sector
The Viridian Value Tracker is the most comprehensive valuation product in the industry.
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- 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 11/14/2025
Sector Valuation Report – Worldwide Cultivation & Retail Sector as of 11/19/25
- Of the 70 companies included in the Viridian Value Tracker Database, only 27 have analyst estimates for 2026. Median EV/ 2026 EBITDA is 4.85x, significantly above the 4.07x registered for the over $100M market cap U.S. competitors discussed above. The median EV/2026 revenues is now 0.9x. We expect these multiples to rocket upward upon any confirmation that Trump is looking favorably on S3.
- Median market-to-book ratios are now 0.57x, reflecting a market belief that acquisition goodwill and license book values significantly exceed market valuations. Additional writedowns may be forthcoming, especially as companies rationalize their operations and cull underperforming assets.
Week ended 11/14/2025
Sector Valuation Report – Worldwide Cultivation & Retail Sector as of 11/19/25
- Of the 70 companies included in the Viridian Value Tracker Database, only 27 have analyst estimates for 2026. Median EV/ 2026 EBITDA is 4.85x, significantly above the 4.07x registered for the over $100M market cap U.S. competitors discussed above. The median EV/2026 revenues is now 0.9x. We expect these multiples to rocket upward upon any confirmation that Trump is looking favorably on S3.
- Median market-to-book ratios are now 0.57x, reflecting a market belief that acquisition goodwill and license book values significantly exceed market valuations. Additional writedowns may be forthcoming, especially as companies rationalize their operations and cull underperforming assets.
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