Trulieve Cannabis (TRLV) Invested Capital (2019 - 2026)
Trulieve Cannabis' Invested Capital came in at $958.2 million for Q3 2026, down 32.1% from $1.41 billion a year earlier but up 0.4% from the prior quarter.
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Analysis
Trulieve Cannabis (TRLV) Invested Capital (2019 - 2026) Analysis & Trends
For FY2025, Trulieve Cannabis' Invested Capital was $1.33 billion, down 10.0% from FY2024.
- Invested Capital has declined in each of the last four years, though with a five-year compound annual growth rate of 23.5% (FY2020 to FY2025).
- Going back by year, Invested Capital was $1.48 billion in FY2024 (-10.2%), $1.65 billion in FY2023 (-23.0%), $2.14 billion in FY2022 (-1.0%) and $2.16 billion in FY2021 (+366.4%).
- The five-year range for quarterly Invested Capital is $954.03 million (Q2 2026) to $2.16 billion (Q4 2021).
- Year-over-year, Invested Capital has declined for nine consecutive quarters, with an average decline of 15.4% over the last eight quarters.
- The fastest year-over-year change in Invested Capital over five years came in Q4 2021 (growth of 366.4%), and the weakest in Q2 2026 (a decline of 33.5%).
- Business Quant data shows TRLV's Invested Capital at $954.03 million (Q2 2026), $1.34 billion (Q1 2026) and $1.33 billion (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 310.09 Bn | 289.08 Bn | 7.85 Bn | 39.63 Bn |
| 2 | British American Tobacco p.l.c | 143.09 Bn | 119.75 Bn | - | 108.08 Bn |
| 3 | Altria | 130.85 Bn | 117.83 Bn | 3.94 Bn | 21.84 Bn |
| 4 | RLX Technology | 2.40 Bn | -1.35 Bn | 52.74 Mn | 2.33 Bn |
| 5 | Curaleaf Holdings | 2.08 Bn | 1.70 Bn | 170.48 Mn | 1.48 Bn |
| 6 | Trulieve Cannabis | 1.86 Bn | 595.66 Mn | 148.02 Mn | 958.20 Mn |
| 7 | Verano Holdings | 1.83 Bn | 1.48 Bn | 100.04 Mn | 1.06 Bn |
| 8 | Green Thumb Industries | 1.49 Bn | 262.73 Mn | 146.79 Mn | 2.42 Bn |
| 9 | Cronos | 1.24 Bn | -1.90 Bn | 32.28 Mn | - |
| 10 | Turning Point Brands | 1.10 Bn | 187.99 Mn | 85.18 Mn | 744.07 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 958.20 Mn |
| Jun 30, 2026 | 954.03 Mn |
| Mar 31, 2026 | 1.34 Bn |
| Dec 31, 2025 | 1.33 Bn |
| Sep 30, 2025 | 1.41 Bn |
| Jun 30, 2025 | 1.44 Bn |
| Mar 31, 2025 | 1.45 Bn |
| Dec 31, 2024 | 1.48 Bn |
| Sep 30, 2024 | 1.53 Bn |
| Jun 30, 2024 | 1.61 Bn |
| Mar 31, 2024 | 1.62 Bn |
| Dec 31, 2023 | 1.65 Bn |
| Sep 30, 2023 | 1.65 Bn |
| Jun 30, 2023 | 1.56 Bn |
| Mar 31, 2023 | 1.97 Bn |
| Dec 31, 2022 | 2.14 Bn |
| Sep 30, 2022 | 2.02 Bn |
| Jun 30, 2022 | 2.13 Bn |
| Mar 31, 2022 | 2.13 Bn |
| Dec 31, 2021 | 2.16 Bn |
API Access
Trulieve Cannabis Invested Capital 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=invested-capital&ticker=TRLV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "ticker": "TRLV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=invested-capital&ticker=TRLV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();