Verano Holdings (VRNO) EBITDA Margin (2021 - 2026)
Verano Holdings (VRNO) reported EBITDA Margin of 14.95% for Q2 2026, down 13.58 percentage points from 28.53% a year earlier and down 5.37 percentage points from the prior quarter.
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Analysis
Verano Holdings (VRNO) EBITDA Margin (2021 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Verano Holdings' EBITDA Margin came in at -1.50%, up 11.98 percentage points year-over-year; for FY2025, it came in at 2.08%, up 13.18 percentage points from FY2024.
- EBITDA Margin has a five-year change of -44.21 percentage points (FY2020 to FY2025).
- By year, EBITDA Margin came in at -11.10% in FY2024 (-35.17 pp), 24.07% in FY2023 (+25.57 pp), -1.49% in FY2022 (-23.65 pp) and 22.16% in FY2021 (-24.12 pp).
- Five-year quarterly EBITDA Margin spans a low of -124.82% in Q4 2024 and a high of 33.07% in Q3 2022.
- Year over year, EBITDA Margin gained in two of the last eight quarters, with an average year-over-year change of -12.43 percentage points.
- The high point for year-over-year EBITDA Margin in five years was Q4 2023 (a gain of 82.04 percentage points); the low point was Q4 2024 (a drop of 131.51 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 20.31% (Q1 2026), -62.08% (Q4 2025) and 20.14% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.85 Bn | 281.83 Bn | 7.85 Bn | 47.01% |
| 2 | British American Tobacco p.l.c | 140.62 Bn | 117.27 Bn | - | - |
| 3 | Altria | 126.99 Bn | 113.97 Bn | 3.94 Bn | 55.01% |
| 4 | RLX Technology | 2.37 Bn | -1.38 Bn | 52.74 Mn | - |
| 5 | Curaleaf Holdings | 2.36 Bn | 1.98 Bn | 170.48 Mn | 15.45% |
| 6 | Verano Holdings | 2.05 Bn | 1.71 Bn | 100.04 Mn | 19.64% |
| 7 | Trulieve Cannabis | 1.89 Bn | 629.78 Mn | 148.02 Mn | 26.15% |
| 8 | Green Thumb Industries | 1.59 Bn | 362.48 Mn | 146.79 Mn | 22.57% |
| 9 | Cronos | 1.25 Bn | -1.89 Bn | 32.28 Mn | 16.37% |
| 10 | Turning Point Brands | 1.25 Bn | 333.93 Mn | 85.18 Mn | 8.50% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 19.64% |
| Jun 30, 2026 | 14.95% |
| Mar 31, 2026 | 20.31% |
| Dec 31, 2025 | -62.08% |
| Sep 30, 2025 | 20.14% |
| Jun 30, 2025 | 28.53% |
| Mar 31, 2025 | 22.30% |
| Dec 31, 2024 | -124.82% |
| Sep 30, 2024 | 24.75% |
| Jun 30, 2024 | 28.33% |
| Mar 31, 2024 | 26.31% |
| Dec 31, 2023 | 6.69% |
| Sep 30, 2023 | 31.47% |
| Jun 30, 2023 | 28.05% |
| Mar 31, 2023 | 30.77% |
| Dec 31, 2022 | -75.35% |
| Sep 30, 2022 | 33.07% |
| Jun 30, 2022 | 15.57% |
| Mar 31, 2022 | 23.25% |
| Dec 31, 2021 | 29.03% |
API Access
Verano 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=VRNO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "VRNO", "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=VRNO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();