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Ascend Wellness Holdings Valuation Multiples
Discover revenue and EBITDA valuation multiples for Ascend Wellness Holdings and similar public comparables like Jushi Holdings, Grown Rogue International, Ispire Technology, WM Tech and more.
Ascend Wellness Holdings Overview
About Ascend Wellness Holdings
Ascend Wellness Holdings Inc is a vertically integrated multi-state operator focused on adult-use or near-term adult-use cannabis states in limited licenses markets. The company's core business is the cultivation, manufacturing, and distribution of cannabis consumer packaged goods, which it sells through company-owned retail stores and third-party licensed cannabis retail stores. It generates maximum revenue from the retail product segment.
Founded
2018
HQ
Employees
2.3K
Website
Financials (LTM)
EV
$635M
Ascend Wellness Holdings Financials
Ascend Wellness Holdings reported last 12-month revenue of $498M and EBITDA of $115M.
In the same LTM period, Ascend Wellness Holdings generated $174M in gross profit, $115M in EBITDA, and had net loss of ($111M).
Revenue (LTM)
Ascend Wellness Holdings P&L
In the most recent fiscal year, Ascend Wellness Holdings reported revenue of $501M and EBITDA of $117M.
Ascend Wellness Holdings expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $498M | XXX | $501M | XXX | XXX | XXX |
| Gross Profit | $174M | XXX | $170M | XXX | XXX | XXX |
| Gross Margin | 35% | XXX | 34% | XXX | XXX | XXX |
| EBITDA | $115M | XXX | $117M | XXX | XXX | XXX |
| EBITDA Margin | 23% | XXX | 23% | XXX | XXX | XXX |
| EBIT Margin | (1%) | XXX | (0%) | XXX | XXX | XXX |
| Net Profit | ($111M) | XXX | ($118M) | XXX | XXX | XXX |
| Net Margin | (22%) | XXX | (24%) | XXX | XXX | XXX |
| Net Debt | — | — | $219M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Ascend Wellness Holdings Stock Performance
Ascend Wellness Holdings has current market cap of $105M, and enterprise value of $635M.
Market Cap Evolution
Ascend Wellness Holdings' stock price is $0.52.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $635M | $105M | 0.0% | XXX | XXX | XXX | $-0.58 |
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Start Free TrialAscend Wellness Holdings Valuation Multiples
Ascend Wellness Holdings trades at 1.3x EV/Revenue multiple, and 5.5x EV/EBITDA.
EV / Revenue (LTM)
Ascend Wellness Holdings Financial Valuation Multiples
As of March 31, 2026, Ascend Wellness Holdings has market cap of $105M and EV of $635M.
Equity research analysts estimate Ascend Wellness Holdings' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Ascend Wellness Holdings has a P/E ratio of (1.0x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $105M | XXX | $105M | XXX | XXX | XXX |
| EV (current) | $635M | XXX | $635M | XXX | XXX | XXX |
| EV/Revenue | 1.3x | XXX | 1.3x | XXX | XXX | XXX |
| EV/EBITDA | 5.5x | XXX | 5.4x | XXX | XXX | XXX |
| EV/EBIT | (87.5x) | XXX | (838.9x) | XXX | XXX | XXX |
| EV/Gross Profit | 3.7x | XXX | 3.7x | XXX | XXX | XXX |
| P/E | (1.0x) | XXX | (0.9x) | XXX | XXX | XXX |
| EV/FCF | (342.2x) | XXX | 6755.9x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Ascend Wellness Holdings Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Ascend Wellness Holdings Margins & Growth Rates
Ascend Wellness Holdings' revenue in the last 12 month grew by 0%.
Ascend Wellness Holdings' revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.
Ascend Wellness Holdings' rule of 40 is 20% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Ascend Wellness Holdings' rule of X is 17% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Ascend Wellness Holdings Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 0% | XXX | (2%) | XXX | XXX | XXX |
| EBITDA Margin | 23% | XXX | 23% | XXX | XXX | XXX |
| EBITDA Growth | (3%) | XXX | (7%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 20% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 17% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 13% | XXX | 25% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 34% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Ascend Wellness Holdings Public Comps
See public comps and valuation multiples for other Cannabis comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Jushi Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| Grown Rogue International | XXX | XXX | XXX | XXX | XXX | XXX |
| Ispire Technology | XXX | XXX | XXX | XXX | XXX | XXX |
| WM Tech | XXX | XXX | XXX | XXX | XXX | XXX |
| Planet 13 | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Ascend Wellness Holdings M&A Activity
Ascend Wellness Holdings acquired XXX companies to date.
Last acquisition by Ascend Wellness Holdings was on XXXXXXXX, XXXXX. Ascend Wellness Holdings acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Ascend Wellness Holdings
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAscend Wellness Holdings Investment Activity
Ascend Wellness Holdings invested in XXX companies to date.
Ascend Wellness Holdings made its latest investment on XXXXXXXX, XXXXX. Ascend Wellness Holdings invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Ascend Wellness Holdings
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Ascend Wellness Holdings
| When was Ascend Wellness Holdings founded? | Ascend Wellness Holdings was founded in 2018. |
| Where is Ascend Wellness Holdings headquartered? | Ascend Wellness Holdings is headquartered in United States. |
| How many employees does Ascend Wellness Holdings have? | As of today, Ascend Wellness Holdings has over 2K employees. |
| Is Ascend Wellness Holdings publicly listed? | Yes, Ascend Wellness Holdings is a public company listed on OTC Pink Sheets. |
| What is the stock symbol of Ascend Wellness Holdings? | Ascend Wellness Holdings trades under AAWH ticker. |
| When did Ascend Wellness Holdings go public? | Ascend Wellness Holdings went public in 2021. |
| Who are competitors of Ascend Wellness Holdings? | Ascend Wellness Holdings main competitors are Jushi Holdings, Grown Rogue International, Ispire Technology, WM Tech. |
| What is the current market cap of Ascend Wellness Holdings? | Ascend Wellness Holdings' current market cap is $105M. |
| What is the current revenue of Ascend Wellness Holdings? | Ascend Wellness Holdings' last 12 months revenue is $498M. |
| What is the current revenue growth of Ascend Wellness Holdings? | Ascend Wellness Holdings revenue growth (NTM/LTM) is 0%. |
| What is the current EV/Revenue multiple of Ascend Wellness Holdings? | Current revenue multiple of Ascend Wellness Holdings is 1.3x. |
| Is Ascend Wellness Holdings profitable? | Yes, Ascend Wellness Holdings is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Ascend Wellness Holdings? | Ascend Wellness Holdings' last 12 months EBITDA is $115M. |
| What is Ascend Wellness Holdings' EBITDA margin? | Ascend Wellness Holdings' last 12 months EBITDA margin is 23%. |
| What is the current EV/EBITDA multiple of Ascend Wellness Holdings? | Current EBITDA multiple of Ascend Wellness Holdings is 5.5x. |
| What is the current FCF of Ascend Wellness Holdings? | Ascend Wellness Holdings' last 12 months FCF is ($2M). |
| What is Ascend Wellness Holdings' FCF margin? | Ascend Wellness Holdings' last 12 months FCF margin is (0%). |
| What is the current EV/FCF multiple of Ascend Wellness Holdings? | Current FCF multiple of Ascend Wellness Holdings is (342.2x). |
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