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Green Thumb Industries Inc GTII

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Stock XCNQ Rating as of
CAD 18.05 −0.22 (1.20%)
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As of Delayed Price Closed
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Company Report

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Cannabis Shares Rally (Again) on Next Incremental Step to Federal Rescheduling

Kristoffer Inton

Shares of Canadian-licensed producers and US multistate operators rallied massively on news that the US Drug Enforcement Administration will proceed with rescheduling cannabis to Schedule III from Schedule I. Schedule I indicates it is considered to have a high potential for abuse and no medical value. In comparison, Schedule III drugs are considered less dangerous, with a lower potential for abuse and having some medical value. We view the April 30 news as the next step in a long process by the Biden administration to relax the current federal prohibition. We view the market reaction as a reflection of how much pressure these stocks have faced rather than any new development.

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Price vs Fair Value

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GTII is trading at a 44% discount.
Price
CAD 18.05
Fair Value
CAD 27.00
Uncertainty
Very High
1-Star Price
CAD 73.00
5-Star Price
CAD 53.00
Economic Moat
Cjbz
Capital Allocation
Mmtkpspswt

Bulls Say, Bears Say

Bulls

Green Thumb gives investors pure-play exposure to the U.S., which we forecast will be the largest market in the world by sales.

Bears

States are incentivized to maximize tax revenue for products like alcohol, tobacco, and cannabis. Although alcohol and tobacco companies successfully pass higher taxes onto consumers, cannabis companies lack the brand power to do the same.

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Trading Information

Previous Close Price
CAD 18.27
Day Range
CAD 17.70–18.90
52-Week Range
CAD 8.62–21.50
Bid/Ask
CAD 17.79 / CAD 18.35
Market Cap
CAD 4.26 Bil
Volume/Avg
139,758 / 172,782

Key Statistics

Price/Earnings (Normalized)
47.42
Price/Sales
3.04
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
1.26%

Company Profile

Green Thumb Industries is headquartered in Chicago, Illinois, and produces and sells medicinal and recreational cannabis through wholesale and retail channels in the United States. It has a presence in 14 states and operates 92 cannabis stores under the brand Rise. GTI is focusing its expansion on limited license states with large populations, and it does not currently export into the global medical market due to U.S. federal prohibition. It offers multiple products under a portfolio of cannabis consumer packaged goods brands, including &Shine, Beboe, Dogwalkers, Doctor Solomon’s, Good Green, incredibles, and RYTHM.
Sector
Healthcare
Industry
Drug Manufacturers - Specialty & Generic
Stock Style Box
Small Growth
Total Number of Employees
4,561
Website
https://www.gtigrows.com

Competitors

Valuation

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Metric
GTII
CURLF
TLRY
Price/Earnings (Normalized)
 47.42——
Price/Book Value
 1.903.950.48
Price/Sales
 3.043.042.02
Price/Cash Flow
 12.3671.65—
Price/Earnings
GTII
CURLF
TLRY

Financial Strength

Metric
GTII
CURLF
TLRY
Quick Ratio
 1.620.310.96
Current Ratio
 2.720.851.92
Interest Coverage
 8.83−0.24−4.39
Quick Ratio
GTII
CURLF
TLRY

Profitability

Metric
GTII
CURLF
TLRY
Return on Assets (Normalized)
 3.06%−3.72%−1.42%
Return on Equity (Normalized)
 4.55%−10.45%−1.82%
Return on Invested Capital (Normalized)
 3.80%−2.20%−0.92%
Return on Assets
GTII
CURLF
TLRY
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