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 05/05/2023
Our sector trackers include ratios applicable to value companies with no analyst coverage and the more typical EV/ Revenues and EV/ EBITDA measures. For each valuation measure, we present the values for the lowest 25% of companies, the median, and the highest 25%. This gives investors a better understanding of the spread of values than a simple average, often presented but frequently seriously flawed by outliers. We note that the market-to-book ratio of the 11 Real Estate sector companies in our database is only .64x, reflecting two negative influences: the impact of rising rates on a portfolio with a portion of fixed rates and expectations of increasing credit issues. Focusing on the most significant 4 U.S. based credit providers, AFC Gamma (AFCG: Nasdaq), Chicago Atlantic (REFI: Nasdaq), Innovative Industrial Properties (IIPR: NYSE), and NewLake Capital (NLCP: OTCQX) produces a higher .81x measure, but none of the group is above 1x.
Week ended 05/05/2023
Our sector trackers include ratios applicable to value companies with no analyst coverage and the more typical EV/ Revenues and EV/ EBITDA measures. For each valuation measure, we present the values for the lowest 25% of companies, the median, and the highest 25%. This gives investors a better understanding of the spread of values than a simple average, often presented but frequently seriously flawed by outliers. We note that the market-to-book ratio of the 11 Real Estate sector companies in our database is only .64x, reflecting two negative influences: the impact of rising rates on a portfolio with a portion of fixed rates and expectations of increasing credit issues. Focusing on the most significant 4 U.S. based credit providers, AFC Gamma (AFCG: Nasdaq), Chicago Atlantic (REFI: Nasdaq), Innovative Industrial Properties (IIPR: NYSE), and NewLake Capital (NLCP: OTCQX) produces a higher .81x measure, but none of the group is above 1x.
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