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 06/20/2025
Sector Valuation Report – Cultivation & Retail
- The median EV/2026 EBITDA multiple (presented for the first time this week) is 3.78x for the 27 companies with sell-side analyst coverage. These multiples may be understated because they are based on significant projected growth in 2026 that is not yet evident. The drop from 4.57x for 2025 demonstrates the magnitude of the projected increases.
- Market-to-book ratios are now slightly below 0.5x, indicating likely asset write-downs.
- See our weekly value sector analysis for more details.
Week ended 06/20/2025
Sector Valuation Report – Cultivation & Retail
- The median EV/2026 EBITDA multiple (presented for the first time this week) is 3.78x for the 27 companies with sell-side analyst coverage. These multiples may be understated because they are based on significant projected growth in 2026 that is not yet evident. The drop from 4.57x for 2025 demonstrates the magnitude of the projected increases.
- Market-to-book ratios are now slightly below 0.5x, indicating likely asset write-downs.
- See our weekly value sector analysis for more details.
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