Ayr Wellness - Public Comps and Valuation Multiples

Ayr Wellness Overview

About Ayr Wellness

Ayr Wellness Inc is a vertically integrated cannabis multi-state operator in the United States of America. Through its subsidiaries in various U.S. states, it is involved in the cultivation, manufacturing, and retail of cannabis products and branded cannabis packaged goods. It operates in one operating segment, cannabis sales. It has a single operating and reportable segment, the production and sale of cannabis.

Founded

2017

HQ

Employees

2.4K+

Website

ayrwellness.com

Sectors

Cannabis
CannaTech
BioTech
ViceTech

Financials

Last FY Revenue $342M

Last FY EBITDA -$114M

EV

$609M

Valuation Multiples

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Ayr Wellness Financials

See Ayr Wellness valuation multiples based on analyst estimates

Ayr Wellness P&L

In the most recent fiscal year, Ayr Wellness reported revenue of $342M and EBITDA of -$114M.

Ayr Wellness expects next 12-month revenue of XXX and NTM EBITDA of XXX

See Ayr Wellness valuation multiples based on analyst estimates

	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	XXX	$342M	XXX	XXX	XXX
Gross Profit	XXX	$130M	XXX	XXX	XXX
Gross Margin	XXX	38%	XXX	XXX	XXX
EBITDA	XXX	-$114M	XXX	XXX	XXX
EBITDA Margin	XXX	-33%	XXX	XXX	XXX
EBIT	XXX	-$28.4M	XXX	XXX	XXX
EBIT Margin	XXX	-8%	XXX	XXX	XXX
Net Profit	XXX	-$265M	XXX	XXX	XXX
Net Margin	XXX	-77%	XXX	XXX	XXX
Net Debt	XXX	$276M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Ayr Wellness including revenue, profitability, and margin analysis across different time periods. In the most recent fiscal year, Ayr Wellness achieved $342M in revenue and -$114M in EBITDA.
Financial Metric	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	Analyst estimates available to subscribers	$342M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	Analyst estimates available to subscribers	$130M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	Analyst estimates available to subscribers	38.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	Analyst estimates available to subscribers	-$114M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	Analyst estimates available to subscribers	-33.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	Analyst estimates available to subscribers	-$28.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	Analyst estimates available to subscribers	-8.3% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	Analyst estimates available to subscribers	-$265M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	Analyst estimates available to subscribers	-77.5% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	$276M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Ayr Wellness

This financial data table provides comprehensive performance metrics for Ayr Wellness, a company based in Canada. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Fiscal Year Performance

In the most recent fiscal year, Ayr Wellness reported $342M in total revenue.
Fiscal year EBITDA was -$114M.
The company maintained a gross profit margin of 38.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was -33.3%.
Net profit margin reached -77.5% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Ayr Wellness. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Ayr Wellness Stock Performance

Ayr Wellness has current market cap of CAD 18.1M (or $13.3M), and EV of CAD 827M (or $609M).

Market Cap Evolution

Ayr Wellness Stock Data

As of February 16, 2026, Ayr Wellness's stock price is CAD 0 (or $0).

See Ayr Wellness trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$609M	$13.3M	XXX	XXX	XXX	XXX	n/a

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Ayr Wellness Valuation Multiples

Ayr Wellness's trades at 1.8x EV/Revenue multiple, and -5.3x EV/EBITDA.

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Ayr Wellness Financial Valuation Multiples

As of February 16, 2026, Ayr Wellness has market cap of $13.3M and EV of $609M.

Equity research analysts estimate Ayr Wellness's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Ayr Wellness's P/E ratio is not available.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$13.3M	XXX	$13.3M	XXX	XXX	XXX
EV (current)	$609M	XXX	$609M	XXX	XXX	XXX
EV/Revenue	n/a	XXX	1.8x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	-5.3x	XXX	XXX	XXX
EV/EBIT	n/a	XXX	-21.5x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	n/a	XXX	-0.1x	XXX	XXX	XXX
EV/FCF	n/a	XXX	-54.6x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Ayr Wellness Margins & Growth Rates

Ayr Wellness's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.1M for the same period.

Ayr Wellness's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Ayr Wellness's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Ayr Wellness Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	n/a	XXX	XXX	XXX
Rule of 40	n/a	XXX	n/a	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	46%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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