Trulieve Cannabis (TCNNF) Operating Margin (2020 - 2026)

Trulieve Cannabis' Operating Margin history runs 7 years deep, the most recent figure standing at 12.46% for Q1 2026.

• In Q1 2026, Operating Margin rose 127.0% year-over-year to 12.46%; the TTM figure through Mar 2026 stood at 12.47% (up 530.0% YoY), while the FY2025 annual figure was 12.15%, up 391.0% from the prior year.
• Operating Margin was 12.46% for Q1 2026 at Trulieve Cannabis, up from 5.22% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 17.42% in Q2 2025 to a low of 103.37% in Q2 2023.
• Historically, Operating Margin has averaged 1.75% across 5 years, with a median of 9.18% in 2022.
• The sharpest annual moves came in 2023 and 2024: Operating Margin plunged 11658 bps in 2023, then jumped 11977 bps in 2024.
• A 5-year view of Operating Margin shows it stood at 1.74% in 2022, then jumped by 483 bps to 10.17% in 2023, then slumped by 96 bps to 0.43% in 2024, then surged by 1101 bps to 5.22% in 2025, then surged by 139 bps to 12.46% in 2026.
• The last three Operating Margin figures came in at 12.46% (Q1 2026), 5.22% (Q4 2025), and 14.66% (Q3 2025), per Business Quant data.