The Billion-Dollar Question: How Much Are Cannabis Multi-State Operators Really Worth?
Portfolio Pulse from Nicolás Jose Rodriguez
Senior analyst Pablo Zuanic from Zuanic & Associates has provided a valuation assessment of US Multi-State Operators (MSOs) in the cannabis sector, considering potential federal regulatory changes and state-level legalization trends. He uses a comprehensive methodology to calculate enterprise values (EV) for MSOs, including Acreage Holdings, Ascend Wellness, Curaleaf, Green Thumb Industries, Trulieve, Cresco Labs, and Verano. The analysis is based on factors such as share counts, net debt, and contingent liabilities. The US legal cannabis market is expected to grow significantly, from $18 million in CY20 to $40 million in CY27, indicating a positive outlook for MSOs.
November 17, 2023 | 4:01 pm
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POSITIVE IMPACT
Ascend Wellness' enterprise value has been analyzed by Zuanic, positioning it within the burgeoning legal cannabis market in the US.
Given the positive industry growth forecast and Zuanic's valuation methodology, Ascend Wellness could see a short-term positive impact on its stock as investors digest the favorable analysis.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Acreage Holdings' valuation has been assessed by Pablo Zuanic, indicating its position in the growing US cannabis market.
The comprehensive valuation analysis by Zuanic, considering the positive market growth projections, could lead to increased investor interest and a potential rise in Acreage Holdings' stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Cresco Labs' EV of $1,395 million and negative net debt, as reported by Zuanic, demonstrate its solid market position in the cannabis sector.
Cresco Labs' valuation, particularly its solid EV and negative net debt, could positively influence investor sentiment and its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Curaleaf's valuation, including a spot EV of $3,964 million, has been detailed by Zuanic, reflecting its strong market capitalization and financial health.
Curaleaf's significant EV and market capitalization, as reported by Zuanic, could attract investor attention and potentially lead to an uptick in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Green Thumb Industries' strong EV of $2,537 million, as calculated by Zuanic, indicates its substantial market presence and financial stability.
The positive valuation of Green Thumb Industries, especially its large market capitalization and negative net debt, could positively influence its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Trulieve's EV of $1,791 million, as per Zuanic's analysis, signals its considerable market influence and positions it well in the growing cannabis industry.
Trulieve's notable market capitalization and negative net debt, as highlighted by Zuanic, could lead to a positive short-term impact on its stock as the market recognizes its strong position.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Verano's EV of $2,103 million, highlighted by Zuanic, along with its considerable market cap, suggests a strong position in the cannabis market.
Verano's strong EV and market capitalization, as assessed by Zuanic, could lead to increased investor interest and a potential positive impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85