Tilray Brands, Inc. (NASDAQ: TLRY)

Sector: Healthcare Industry: Drug Manufacturers - Specialty & Generic CIK: 0001731348
Market Cap 692.75 Mn
P/B 0.44
P/E -0.33
P/S 0.83
ROIC (Qtr) -129.17
Div Yield % 0.00
Rev 1y % (Qtr) 3.11
Total Debt (Qtr) 319.63 Mn
Debt/Equity (Qtr) 0.20

About

Tilray Brands, Inc., commonly recognized through its stock symbols TLRY and TLRYF, is a prominent player in the global lifestyle consumer products industry, with a primary focus on cannabis, beverage, wellness, and entertainment. The company's operations span across various countries and regions, including Canada, the United States, Europe, Australia, New Zealand, and Latin America. Tilray's primary business activities encompass the cultivation, production, distribution, and sale of both medical and adult-use cannabis products. Additionally, the...

Read more

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 246.70M provide 7.50x coverage of short-term debt 32.89M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 1.32B provides 4.14x coverage of total debt 319.63M, indicating robust asset backing and low credit risk.
  • Cash reserves of 246.70M provide ample 2467.03x coverage of acquisition spending 100000, enabling strategic growth opportunities.
  • Cash position of 246.70M provides exceptional 28.56x coverage of minority interest expenses 8.64M, indicating strong liquidity.
  • Cash reserves of 246.70M provide robust 0.95x coverage of current liabilities 259.31M, indicating strong short-term solvency.

Bear case

  • Investment activities of (20.14M) provide weak support for R&D spending of 238000, which is -84.61x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (28.45M) shows concerning coverage of stock compensation expenses of 27.47M, with a -1.04 ratio indicating potential earnings quality issues.
  • Free cash flow of (61.79M) provides weak coverage of capital expenditures of 33.34M, with a -1.85 ratio suggesting additional external financing needs for growth initiatives.
  • Operating cash flow of (28.45M) provides minimal 0.23x coverage of tax expenses of (122.68M), suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • Operating earnings of (2.21B) show weak coverage of depreciation charges of 99.14M, with a -22.29 ratio indicating high capital intensity and potential reinvestment needs.

Segments Breakdown of Revenue (2025)

Segments Breakdown of Revenue (2025)

Peer comparison

Companies in the Drug Manufacturers - Specialty & Generic
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 ZTS Zoetis Inc. 60.50 Bn 29.70 7.78 7.27 Bn
2 TAK Takeda Pharmaceutical Co Ltd 56.17 Bn 77.42 1.96 36.56 Bn
3 HLN Haleon plc 50.10 Bn 27.80 3.57 -
4 TEVA Teva Pharmaceutical Industries Ltd 39.77 Bn 28.20 2.30 17.09 Bn
5 UTHR UNITED THERAPEUTICS Corp 21.67 Bn 17.04 6.93 0.00 Bn
6 VTRS Viatris Inc 17.75 Bn 22.09 1.06 14.44 Bn
7 NBIX Neurocrine Biosciences Inc 14.02 Bn 32.76 5.23 0.43 Bn
8 RGC Regencell Bioscience Holdings Ltd 13.94 Bn -3,890.00 0.00 -

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.36 32.39
EV to Cash from Ops. EV/CFO -26.42 -110.47
EV to Debt EV to Debt 2.35 345.43
EV to EBIT EV/EBIT -0.34 -42.53
EV to EBITDA EV/EBITDA -0.35 -44.40
EV to Free Cash Flow [EV/FCF] EV/FCF -12.16 -54.30
EV to Market Cap EV to Market Cap 1.09 -3.42
EV to Revenue EV/Rev 0.90 -1,175.08
Price to Book Value [P/B] P/B 0.44 36.75
Price to Earnings [P/E] P/E -0.33 -135.15
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.36
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.49
Dividend per Basic Share Div per Share (Qtr) 0.00 0.07
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 3.93
Interest Coverage Int. cover (Qtr) -90.54 -38.53
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -47.31 -148.82
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 30.05 45,342.22
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 2.85
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -788.23 27.06
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -4,018.55 19.86
EBIT Growth (1y) % EBIT 1y % (Qtr) -751.96 86.71
EBT Growth (1y) % EBT 1y % (Qtr) -657.49 84.03
EPS Growth (1y) % EPS 1y % (Qtr) -672.91 -17.49
FCF Growth (1y) % FCF 1y % (Qtr) 25.84 -53.73
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -7.15 26.02
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.40 0.50
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.02
Cash Ratio Cash Ratio (Qtr) 0.95 2.11
Current Ratio Curr Ratio (Qtr) 2.81 3.95
Debt to Equity Ratio Debt/Equity (Qtr) 0.20 -1.12
Interest Cover Ratio Int Coverage (Qtr) -90.54 -38.53
Times Interest Earned Times Interest Earned (Qtr) -90.54 -38.53
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -252.10 -63,232.43
EBIT Margin % EBIT Margin % (Qtr) -263.98 -64,062.36
EBT Margin % EBT Margin % (Qtr) -266.89 -67,582.30
Gross Margin % Gross Margin % (Qtr) 28.00 8,439.27
Net Profit Margin % Net Margin % (Qtr) -252.20 -67,583.72