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 05/02/2025
Sector Valuation – Cultivation & Retail valuation metrics continue to tick upward
- The Cultivation & Retail sector is on a tear. The MSOS was up another 6.76% for the week ended 5/2/25, and perhaps more importantly, this is the first time that the ETF has been up four weeks in a row since 4/24/24, and if we manage to close up this week, it will be an event that has only happened seven times since September 2020. The MSOS was up over 38% over the last four weeks.
- The median EV/ 2025 EBITDA is now 4.89x, up from 4.73x last week and 41x a month ago. The median value of our bespoke valuation measure, Adjusted EV/ 2025 EBITDAR, now stands at 5.87x, up from 5.83x last week.
- The sector median of EV/ 2025 revenues is now .84x vs .69x a month ago.
- Bottom line: we are seeing some upward drift in valuation metrics, and it is encouraging to see the trend continue for 3 weeks in a row. Maybe it is the start of an upward trend? Valuations still have an enormous upside from here if we can get the attention of one man in Washington.
Week ended 05/02/2025
Sector Valuation – Cultivation & Retail valuation metrics continue to tick upward
- The Cultivation & Retail sector is on a tear. The MSOS was up another 6.76% for the week ended 5/2/25, and perhaps more importantly, this is the first time that the ETF has been up four weeks in a row since 4/24/24, and if we manage to close up this week, it will be an event that has only happened seven times since September 2020. The MSOS was up over 38% over the last four weeks.
- The median EV/ 2025 EBITDA is now 4.89x, up from 4.73x last week and 41x a month ago. The median value of our bespoke valuation measure, Adjusted EV/ 2025 EBITDAR, now stands at 5.87x, up from 5.83x last week.
- The sector median of EV/ 2025 revenues is now .84x vs .69x a month ago.
- Bottom line: we are seeing some upward drift in valuation metrics, and it is encouraging to see the trend continue for 3 weeks in a row. Maybe it is the start of an upward trend? Valuations still have an enormous upside from here if we can get the attention of one man in Washington.
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