Verano Holdings (VRNO) Invested Capital (2021 - 2026)
Verano Holdings (VRNO) posted Invested Capital of $1.07 billion for Q2 2026, down 19.5% from $1.33 billion a year earlier and down 1.1% from the prior quarter.
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Analysis
Verano Holdings (VRNO) Invested Capital (2021 - 2026) Analysis & Trends
For FY2025, Verano Holdings' Invested Capital came in at $1.1 billion, down 19.1% from FY2024.
- Annual Invested Capital has declined for four consecutive years, with a four-year compound annual growth rate of -11.1% (FY2021 to FY2025).
- In prior years, Verano Holdings' Invested Capital was $1.36 billion in FY2024 (-19.0%), $1.69 billion in FY2023 (-3.9%), $1.75 billion in FY2022 (-0.9%) and $1.77 billion in FY2021.
- The Q2 2026 figure stands as the lowest quarterly Invested Capital in data going back to Q4 2021.
- On a year-over-year basis, Invested Capital has declined in each of the last 13 quarters, with an average decline of 17.8% over the last eight quarters.
- The year-over-year decline in Invested Capital has ranged between 0.9% (Q4 2022) and 21.5% (Q3 2025) over the last five years.
- According to Business Quant data, Invested Capital for the three prior quarters was $1.08 billion (Q1 2026), $1.1 billion (Q4 2025) and $1.29 billion (Q3 2025).
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 | 1.06 Bn |
| Jun 30, 2026 | 1.07 Bn |
| Mar 31, 2026 | 1.08 Bn |
| Dec 31, 2025 | 1.10 Bn |
| Sep 30, 2025 | 1.28 Bn |
| Jun 30, 2025 | 1.33 Bn |
| Mar 31, 2025 | 1.36 Bn |
| Dec 31, 2024 | 1.36 Bn |
| Sep 30, 2024 | 1.64 Bn |
| Jun 30, 2024 | 1.62 Bn |
| Mar 31, 2024 | 1.68 Bn |
| Dec 31, 2023 | 1.69 Bn |
| Sep 30, 2023 | 1.74 Bn |
| Jun 30, 2023 | 1.75 Bn |
| Mar 31, 2023 | 1.75 Bn |
| Dec 31, 2022 | 1.75 Bn |
| Sep 30, 2022 | 1.93 Bn |
| Jun 30, 2022 | 1.95 Bn |
| Dec 31, 2021 | 1.77 Bn |
API Access
Verano Holdings 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=VRNO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=VRNO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();