Verano Holdings (VRNO) Return on Invested Capital [ROIC] (2022 - 2026)
Verano Holdings (VRNO) posted Return on Invested Capital [ROIC] of -12.28% for Q2 2026, up 5.99 percentage points from -18.28% a year earlier but down 2.31 percentage points from the prior quarter.
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Analysis
Verano Holdings (VRNO) Return on Invested Capital [ROIC] (2022 - 2026) Analysis & Trends
For FY2025, Verano Holdings' Return on Invested Capital [ROIC] came in at -8.68%, up 6.87 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] shows a three-year change of +0.47 percentage points (FY2022 to FY2025).
- In prior years, Verano Holdings' Return on Invested Capital [ROIC] was -15.55% in FY2024 (-15.55 pp), 0.00% in FY2023 (+9.14 pp) and -9.14% in FY2022.
- Quarterly Return on Invested Capital [ROIC] has run from a low of -19.38% in Q3 2025 to a high of 2.89% in Q3 2024 over five years.
- On a year-over-year basis, Return on Invested Capital [ROIC] has increased in each of the last three quarters, with an average year-over-year change of -5.59 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Return on Invested Capital [ROIC] in the past five years was Q3 2024, with a gain of 8.77 percentage points; the weakest was Q3 2025, with a drop of 22.26 percentage points.
- According to Business Quant data, Return on Invested Capital [ROIC] for the three prior quarters was -9.97% (Q1 2026), -8.96% (Q4 2025) and -19.38% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.85 Bn | 281.83 Bn | 7.85 Bn | 32.08% |
| 2 | British American Tobacco p.l.c | 140.62 Bn | 117.27 Bn | - | - |
| 3 | Altria | 126.99 Bn | 113.97 Bn | 3.94 Bn | 38.67% |
| 4 | RLX Technology | 2.37 Bn | -1.38 Bn | 52.74 Mn | 3.63% |
| 5 | Curaleaf Holdings | 2.36 Bn | 1.98 Bn | 170.48 Mn | 0.73% |
| 6 | Verano Holdings | 2.05 Bn | 1.71 Bn | 100.04 Mn | -12.16% |
| 7 | Trulieve Cannabis | 1.89 Bn | 629.78 Mn | 148.02 Mn | -28.97% |
| 8 | Green Thumb Industries | 1.59 Bn | 362.48 Mn | 146.79 Mn | 1.79% |
| 9 | Cronos | 1.25 Bn | -1.89 Bn | 32.28 Mn | - |
| 10 | Turning Point Brands | 1.25 Bn | 333.93 Mn | 85.18 Mn | 7.15% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -12.16% |
| Jun 30, 2026 | -12.29% |
| Mar 31, 2026 | -9.97% |
| Dec 31, 2025 | -8.97% |
| Sep 30, 2025 | -19.39% |
| Jun 30, 2025 | -18.28% |
| Mar 31, 2025 | -17.96% |
| Dec 31, 2024 | -15.80% |
| Sep 30, 2024 | 2.89% |
| Jun 30, 2024 | 0.00% |
| Mar 31, 2024 | 0.00% |
| Dec 31, 2023 | 0.00% |
| Sep 30, 2023 | -5.89% |
| Jun 30, 2023 | -6.04% |
| Mar 31, 2023 | -7.89% |
| Dec 31, 2022 | -8.74% |
| Sep 30, 2022 | 0.00% |
API Access
Verano Holdings Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=VRNO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=VRNO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();