Curaleaf Holdings (CURLF) EBITDA Margin (2019 - 2026)
Curaleaf Holdings (CURLF) recorded EBITDA Margin of 15.45% in Q3 2026, down 2.14 percentage points from 17.59% a year earlier and down 0.09 percentage points from the prior quarter.
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Analysis
Curaleaf Holdings (CURLF) EBITDA Margin (2019 - 2026) Analysis & Trends
On a TTM basis, Curaleaf Holdings' EBITDA Margin came in at 15.44% as of Sep 30, 2026, down 3.48 percentage points year-over-year; for FY2025, it was 17.51%, down 1.69 percentage points from FY2024.
- Annual EBITDA Margin has a five-year change of -2.99 percentage points (FY2020 to FY2025).
- Across earlier years, EBITDA Margin came in at 19.20% in FY2024 (+1.47 pp), 17.73% in FY2023 (+0.41 pp), 17.32% in FY2022 (+2.35 pp) and 14.98% in FY2021 (-5.53 pp).
- Quarterly EBITDA Margin has ranged from 1.95% in Q4 2022 to 22.08% in Q2 2022 over the past five years.
- On a year-over-year basis, EBITDA Margin has declined for five consecutive quarters, with an average year-over-year change of -1.61 percentage points over the last eight quarters.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 16.97 percentage points in Q4 2023, against a drop of 33.88 percentage points in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 15.53% (Q2 2026), 14.99% (Q1 2026) and 15.77% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 303.52 Bn | 280.52 Bn | 7.85 Bn | 47.01% |
| 2 | British American Tobacco p.l.c | 132.82 Bn | 111.64 Bn | - | - |
| 3 | Altria | 126.54 Bn | 113.47 Bn | 3.94 Bn | 55.01% |
| 4 | Curaleaf Holdings | 2.37 Bn | 2.00 Bn | 170.48 Mn | 15.45% |
| 5 | Trulieve Cannabis | 2.11 Bn | 729.12 Mn | 162.29 Mn | -127.26% |
| 6 | RLX Technology | 1.96 Bn | -1.30 Bn | - | - |
| 7 | Green Thumb Industries | 1.45 Bn | 214.02 Mn | 146.79 Mn | 22.57% |
| 8 | Cronos | 1.30 Bn | -1.97 Bn | 28.45 Mn | 15.27% |
| 9 | Turning Point Brands | 1.27 Bn | 375.50 Mn | 93.70 Mn | - |
| 10 | Tilray Brands | 363.35 Mn | -604.15 Mn | 77.51 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 15.45% |
| Jun 30, 2026 | 15.53% |
| Mar 31, 2026 | 14.99% |
| Dec 31, 2025 | 18.05% |
| Sep 30, 2025 | 17.05% |
| Jun 30, 2025 | 17.84% |
| Mar 31, 2025 | 18.98% |
| Dec 31, 2024 | 21.20% |
| Sep 30, 2024 | 19.32% |
| Jun 30, 2024 | 17.33% |
| Mar 31, 2024 | 19.07% |
| Dec 31, 2023 | 18.93% |
| Sep 30, 2023 | 18.76% |
| Jun 30, 2023 | 14.20% |
| Mar 31, 2023 | 19.02% |
| Dec 31, 2022 | 1.95% |
| Sep 30, 2022 | 21.71% |
| Jun 30, 2022 | 22.08% |
| Mar 31, 2022 | 21.25% |
| Dec 31, 2021 | 14.53% |
API Access
Curaleaf Holdings EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=CURLF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "CURLF", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=CURLF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();