Trulieve Cannabis (TRLV) Operating Margin (2020 - 2026)
Trulieve Cannabis (TRLV) posted Operating Margin of -136.75% for Q2 2026, down 154.17 percentage points from 17.42% a year earlier and down 149.21 percentage points from the prior quarter.
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Analysis
Trulieve Cannabis (TRLV) Operating Margin (2020 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Margin at Trulieve Cannabis was -24.34%, down 31.76 percentage points year-over-year; for FY2025, it was 12.15%, up 3.91 percentage points from FY2024.
- Annual Operating Margin shows a five-year change of -29.71 percentage points (FY2020 to FY2025).
- In prior years, Trulieve Cannabis' Operating Margin was 8.24% in FY2024 (+27.87 pp), -19.63% in FY2023 (-23.74 pp), 4.12% in FY2022 (-17.78 pp) and 21.90% in FY2021 (-19.96 pp).
- The Q2 2026 figure stands as the lowest quarterly Operating Margin in data going back to Q1 2020.
- On a year-over-year basis, Operating Margin increased in four of the last eight quarters, with an average year-over-year change of -19.37 percentage points.
- The strongest year-over-year quarter for Operating Margin in the past five years was Q2 2024, with a gain of 119.77 percentage points; the weakest was Q2 2026, with a drop of 154.17 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was 12.46% (Q1 2026), 5.22% (Q4 2025) and 14.66% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.14 Bn | 283.71 Bn | 7.66 Bn | 40.48% |
| 2 | British American Tobacco p.l.c | 129.64 Bn | 108.78 Bn | - | - |
| 3 | Altria | 115.45 Bn | 101.65 Bn | 3.82 Bn | 51.32% |
| 4 | Curaleaf Holdings | 2.87 Bn | 2.47 Bn | 169.91 Mn | 1.24% |
| 5 | RLX Technology | 2.63 Bn | -932.13 Mn | 52.74 Mn | 12.90% |
| 6 | Trulieve Cannabis | 2.37 Bn | 989.63 Mn | 162.29 Mn | -136.75% |
| 7 | Green Thumb Industries | 1.53 Bn | 385.54 Mn | 137.87 Mn | 6.51% |
| 8 | Cronos | 1.26 Bn | -1.96 Bn | 28.45 Mn | 10.49% |
| 9 | Turning Point Brands | 1.21 Bn | 343.16 Mn | 93.70 Mn | 11.69% |
| 10 | Verano Holdings | 871.29 Mn | 544.91 Mn | 99.70 Mn | 1.44% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -136.75% |
| Mar 31, 2026 | 12.46% |
| Dec 31, 2025 | 5.22% |
| Sep 30, 2025 | 14.66% |
| Jun 30, 2025 | 17.42% |
| Mar 31, 2025 | 11.19% |
| Dec 31, 2024 | 0.43% |
| Sep 30, 2024 | 0.22% |
| Jun 30, 2024 | 16.40% |
| Mar 31, 2024 | 15.49% |
| Dec 31, 2023 | 10.17% |
| Sep 30, 2023 | 8.48% |
| Jun 30, 2023 | -103.37% |
| Mar 31, 2023 | 6.01% |
| Dec 31, 2022 | 1.74% |
| Sep 30, 2022 | -9.26% |
| Jun 30, 2022 | 13.22% |
| Mar 31, 2022 | 9.18% |
| Dec 31, 2021 | -3.71% |
| Sep 30, 2021 | 29.57% |
API Access
Trulieve Cannabis Operating 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=operating-margin&ticker=TRLV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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=operating-margin&ticker=TRLV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();