TerrAscend (TSNDF) Stock Price, Financials & Analysis

Key Stats

Market Cap145.37 Mn

P/E-8.11

FCF (Yr)25.31 Mn

ROA (Yr)-13.97

EV to EBIT-0.40

Net Income (Yr)-81.33 Mn

Enterprise Value-16.52 Mn

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About

TerrAscend Corp. is a leading cannabis company operating in North America. The company engages in the cultivation production and sale of cannabis products. It maintains vertically integrated licensed operations in Pennsylvania New Jersey Maryland and California. In addition it operates retail dispensaries in Ohio and Ontario Canada through a majority owned dispensary in Toronto. The company generates revenue from the sale of cannabis flower concentrates vaporizables…

The company generates revenue from the sale of cannabis flower concentrates vaporizables edibles tinctures topicals and accessories. It also derives income from third party licensed brands such as Wana and Cookies which it produces supplies and commercializes in certain states. Revenue comes from both medical patients and adult use consumers who purchase through its dispensary network.

The company operates through the following segments.

The cultivation production and sale of cannabis products segment encompasses the company's vertically integrated activities which include growing cannabis in indoor facilities processing raw material into various form factors such as flower vaporizables concentrates edibles tinctures and topicals and selling these products through its owned dispensary brands including The Apothecarium and other retail locations.

TerrAscend Corp. holds a leading position among cannabis operators in North America due to its vertically integrated model and geographic diversification across Pennsylvania New Jersey Maryland California Ohio and Ontario. The company competes with other vertically integrated operators established retail chains government run retailers and illicit market participants. Its competitive advantages stem from control over the supply chain from cultivation to retail a diversified brand portfolio including owned brands such as Kind Tree Legend Valhalla State Flower Cannabis and Ilera Healthcare and partnerships with third party brands like Wana and Cookies. Additionally the company's focus on product quality patient education and compliance with state regulations supports its market standing.

The company serves medical patients and adult use consumers who purchase cannabis products through its dispensary network in the states where it operates and in Ontario Canada. Its customer base includes individuals seeking therapeutic relief as well as those using cannabis for recreational purposes.

How TerrAscend ranks

Ranked against the 40 companies in Tobacco and Cannabis58 metrics · as of Nov 6, 2026

Valuation

12 metrics · Lower multiples rank higher; a negative multiple ranks last

P/ENegative earnings −8.10xMedian 19.9x 61^st
P/FCF 5.52xMedian 18.9x 92^nd
P/Operating cash flow 4.37xMedian 10.6x 94^th
P/S 0.54xMedian 0.97x 60^th
P/B 1.85xMedian 1.09x 39^th
P/Tangible bookNegative tangible equity −1.44xMedian 1.21x Not meaningful —
EV/EBITDA 4.70xMedian 13.0x 93^rd
EV/EBIT 7.25xMedian 18.3x 99^th
EV/Revenue 1.13xMedian 1.09x 49^th
EV/FCF 11.5xMedian 18.6x 88^th
EV/Operating cash flow 9.08xMedian 13.2x 88^th
PEG (3Y EPS CAGR)Negative earnings −0.24Median 0.57 Not meaningful —

Growth

14 metrics · Year-on-year growth and three-year compound annual growth

Revenue growth (1Y) 2.4%Median 5.3% 46^th
Revenue CAGR (3Y) −3.7%Median −0.1% 31^st
Gross profit growth (1Y) 2.9%Median 3.7% 47^th
Gross profit CAGR (3Y) −1.8%Median 3.9% 37^th
Operating income growth (1Y) −9.7%Median −11.0% 52^nd
Operating income CAGR (3Y) 2.4%Median 27.0% 34^th
Net income growth (1Y) 84.4%Median 7.6% 77^th
Net income CAGR (3Y) 32.2%Median 16.2% 61^st
EPS growth (1Y) 84.6%Median −7.9% 71^st
EPS CAGR (3Y) 33.8%Median 23.4% 64^th
Operating cash flow growth (1Y) 2.5%Median 6.9% 49^th
Operating cash flow CAGR (3Y) 4.6%Median 9.2% 38^th
Free cash flow growth (1Y) 15.6%Median 16.0% 47^th
Free cash flow CAGR (3Y) 43.5%Median 32.4% 79^th

Profitability

14 metrics · Margins, returns on capital and the quality of earnings

Gross margin 52.8%Median 43.3% 82^nd
EBITDA margin 24.0%Median 1.7% 89^th
Operating margin 15.6%Median −6.4% 91^st
Pretax margin 3.4%Median −12.1% 71^st
Net margin −6.7%Median −13.1% 65^th
FCF margin 9.8%Median 0.4% 76^th
Operating cash flow margin 12.4%Median 4.3% 76^th
Return on equity −22.1%Median −29.9% 54^th
Return on assets −3.2%Median −12.9% 69^th
Return on invested capital 0.0%Median −4.4% 60^th
Return on capital employed 8.3%Median −3.0% 83^rd
Asset turnover 0.48xMedian 0.59x 27^th
Cash conversion (OCF / net income)Net income is not positive −1.85xMedian 1.19x Not meaningful —
Stock comp / revenue 1.4%Median 2.5% 76^th

Financial Health

11 metrics · Leverage, liquidity and solvency; less debt ranks higher

Debt / assets 35.6%Median 22.5% 29^th
Debt / equity 2.53xMedian 0.40x 1^st
Net debt / EBITDA 2.43xMedian 2.31x 47^th
Debt / FCF 7.56xMedian 3.30x 27^th
Liabilities / assets 85.9%Median 67.5% 26^th
Equity / assets 14.1%Median 32.5% 26^th
Interest coverage 1.40xMedian −2.02x 82^nd
Current ratio 1.92xMedian 1.66x 61^st
Quick ratio 1.00xMedian 0.72x 65^th
Cash ratio 0.75xMedian 0.40x 68^th
Altman Z-score −1.21Median −1.19 47^th

S.No.	Ticker	Company	Market Cap	P/E	P/S	Total Debt (Qtr)
1	PM	Philip Morris International Inc.	308.32 Bn	28.79	7.15	47.56 Bn
2	BTI	British American Tobacco p.l.c.	133.26 Bn	-	-	46.47 Bn
3	MO	Altria Group, Inc.	126.98 Bn	15.65	5.40	24.06 Bn
4	CURLF	Curaleaf Holdings, Inc.	2.49 Bn	-243.60	1.85	0.63 Bn
5	TRLV	Trulieve Cannabis Corp.	2.22 Bn	-4.70	1.95	0.19 Bn
6	RLX	RLX Technology Inc.	1.99 Bn	33.64	2.85	0.02 Bn
7	GTBIF	Green Thumb Industries Inc.	1.48 Bn	14.96	1.19	0.55 Bn
8	TSNDF	TerrAscend Corp.	0.15 Bn	-8.11	0.54	0.20 Bn

S.No.

Ticker

Company

Market Cap

P/E

P/S

Total Debt (Qtr)

Philip Morris International Inc.

308.32 Bn

28.79

7.15

47.56 Bn

BTI

British American Tobacco p.l.c.

133.26 Bn

46.47 Bn

Altria Group, Inc.

126.98 Bn

15.65

5.40

24.06 Bn

CURLF

Curaleaf Holdings, Inc.

2.49 Bn

-243.60

1.85

0.63 Bn

TRLV

Trulieve Cannabis Corp.

2.22 Bn

-4.70

1.95

0.19 Bn

RLX

RLX Technology Inc.

1.99 Bn

33.64

2.85

0.02 Bn

GTBIF

Green Thumb Industries Inc.

1.48 Bn

14.96

1.19

0.55 Bn

TSNDF

TerrAscend Corp.

0.15 Bn

-8.11

0.54

0.20 Bn

TerrAscend TSNDF

About

Contract with Customer, Sales Channel Breakdown of Revenue (2025)

How TerrAscend ranks

Valuation

Growth

Profitability

Financial Health

Shareholder Returns

Peer Comparison

TerrAscend TSNDF

About

Contract with Customer, Sales Channel Breakdown of Revenue (2025)

How TerrAscend ranks

Valuation

Growth

Profitability

Financial Health

Shareholder Returns

Peer Comparison

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