Verano Holdings (VRNO) Operating Margin (2021 - 2026)
Verano Holdings (VRNO) posted Operating Margin of 1.44% for Q2 2026, down 11.52 percentage points from 12.96% a year earlier and down 4.85 percentage points from the prior quarter.
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Analysis
Verano Holdings (VRNO) Operating Margin (2021 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Margin at Verano Holdings was -15.81%, up 13.23 percentage points year-over-year; for FY2025, it came in at -13.04%, up 13.96 percentage points from FY2024.
- Annual Operating Margin shows a five-year change of -54.61 percentage points (FY2020 to FY2025).
- In prior years, Verano Holdings' Operating Margin was -27.00% in FY2024 (-36.03 pp), 9.03% in FY2023 (+27.36 pp), -18.32% in FY2022 (-27.09 pp) and 8.77% in FY2021 (-32.80 pp).
- Quarterly Operating Margin has run from a low of -139.26% in Q4 2024 to a high of 16.78% in Q3 2023 over five years.
- On a year-over-year basis, Operating Margin increased in two of the last eight quarters, with an average year-over-year change of -11.87 percentage points.
- The strongest year-over-year quarter for Operating Margin in the past five years was Q4 2023, with a gain of 83.30 percentage points; the weakest was Q4 2024, with a drop of 130.95 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was 6.29% (Q1 2026), -76.27% (Q4 2025) and 4.57% (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 | 1.44% |
| Mar 31, 2026 | 6.29% |
| Dec 31, 2025 | -76.27% |
| Sep 30, 2025 | 4.57% |
| Jun 30, 2025 | 12.96% |
| Mar 31, 2025 | 7.15% |
| Dec 31, 2024 | -139.26% |
| Sep 30, 2024 | 7.74% |
| Jun 30, 2024 | 12.26% |
| Mar 31, 2024 | 10.24% |
| Dec 31, 2023 | -8.31% |
| Sep 30, 2023 | 16.78% |
| Jun 30, 2023 | 13.00% |
| Mar 31, 2023 | 14.88% |
| Dec 31, 2022 | -91.61% |
| Sep 30, 2022 | 16.29% |
| Jun 30, 2022 | -1.02% |
| Mar 31, 2022 | 5.47% |
| Dec 31, 2021 | 13.92% |
| Sep 30, 2021 | 11.15% |
API Access
Verano Holdings 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=VRNO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=VRNO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();