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 02/23/2024
Valuations in the Consumption Device subsector are surprisingly strong, given the well-known issues at Greenlane (GNLN: Nasdaq) and Item 9 Labs (INLB: OTC). The median market to book for the eight-member group is 1.13x, and the median EV/Annualized Revenues is a surprising 1.66x. The averages are skewed much higher by Turning Point (TPB: NYSE), with 3x mkt to book and 1.7x EV/ annualized revenues, and Ispire (ISPR: Nasdaq) at 19x Mkt/book and 3.2x EV/annualized revenues. This skewing of averages is one reason Viridian uses the median and quartiles in our valuation and credit norms analysis.
Week ended 02/23/2024
Valuations in the Consumption Device subsector are surprisingly strong, given the well-known issues at Greenlane (GNLN: Nasdaq) and Item 9 Labs (INLB: OTC). The median market to book for the eight-member group is 1.13x, and the median EV/Annualized Revenues is a surprising 1.66x. The averages are skewed much higher by Turning Point (TPB: NYSE), with 3x mkt to book and 1.7x EV/ annualized revenues, and Ispire (ISPR: Nasdaq) at 19x Mkt/book and 3.2x EV/annualized revenues. This skewing of averages is one reason Viridian uses the median and quartiles in our valuation and credit norms analysis.
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