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Trulieve Cannabis Corp is a vertically integrated cannabis company that grows, produces, and sells cannabis products. It has licenses to operate in Arizona, Colorado, Connecticut, Florida, Georgia, Maryland, Ohio, Pennsylvania, and West Virginia, where it sells medical cannabis products. In addition, the company sells cannabis products for adult use in Arizona, Colorado, Connecticut, Maryland, and Ohio. The firm's operations are substantially located in Florida and, to a lesser extent, in Arizona and Pennsylvania.
1940
6K+
LTM Revenue $1.7B
LTM EBITDA $592M
$1.1B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Trulieve has a last 12-month revenue of $1.7B and a last 12-month EBITDA of $592M.
In the most recent fiscal year, Trulieve achieved revenue of $830M and an EBITDA of $198M.
Trulieve expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Trulieve valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $790M | $830M | XXX | XXX | XXX |
| Gross Profit | $477M | $412M | XXX | XXX | XXX |
| Gross Margin | 60% | 50% | XXX | XXX | XXX |
| EBITDA | -$15.4M | $198M | XXX | XXX | XXX |
| EBITDA Margin | -2% | 24% | XXX | XXX | XXX |
| Net Profit | -$172M | -$368M | XXX | XXX | XXX |
| Net Margin | -22% | -44% | XXX | XXX | XXX |
| Net Debt | $305M | $197M | XXX | XXX | XXX |
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As of April 15, 2025, Trulieve's stock price is CAD 5 (or $3).
Trulieve has current market cap of CAD 881M (or $616M), and EV of CAD 1.6B (or $1.1B).
See Trulieve trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.1B | $616M | XXX | XXX | XXX | XXX | $-0.65 |
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Sign UpAs of April 15, 2025, Trulieve has market cap of $616M and EV of $1.1B.
Trulieve's trades at 0.9x LTM EV/Revenue multiple, and 2.7x LTM EBITDA.
Analysts estimate Trulieve's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Trulieve and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $1.1B | XXX | XXX | XXX |
| EV/Revenue | 1.4x | XXX | XXX | XXX |
| EV/EBITDA | 5.7x | XXX | XXX | XXX |
| P/E | -5.7x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | 13.8x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpTrulieve's NTM/LTM revenue growth is -1%
Trulieve's revenue per employee for the last fiscal year averaged $0.1M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Trulieve's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Trulieve's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Trulieve and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 5% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 24% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -1387% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 23% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.1M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 22% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 21% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 53% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Live Verdure | XXX | XXX | XXX | XXX | XXX | XXX |
| Ascend Wellness Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| Ayr Wellness | XXX | XXX | XXX | XXX | XXX | XXX |
| Cresco Labs | XXX | XXX | XXX | XXX | XXX | XXX |
| Grown Rogue | 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.
Trulieve acquired XXX companies to date.
Last acquisition by Trulieve was XXXXXXXX, XXXXX XXXXX XXXXXX . Trulieve acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Trulieve founded? | Trulieve was founded in 1940. |
| Where is Trulieve headquartered? | Trulieve is headquartered in Canada. |
| How many employees does Trulieve have? | As of today, Trulieve has 6K+ employees. |
| Is Trulieve publicy listed? | Yes, Trulieve is a public company listed on CNQ. |
| What is the stock symbol of Trulieve? | Trulieve trades under TRUL ticker. |
| When did Trulieve go public? | Trulieve went public in 2018. |
| Who are competitors of Trulieve? | Similar companies to Trulieve include e.g. Live Verdure, Ascend Wellness Holdings, Ayr Wellness, Cresco Labs. |
| What is the current market cap of Trulieve? | Trulieve's current market cap is $616M |
| What is the current revenue of Trulieve? | Trulieve's last 12-month revenue is $1.7B. |
| What is the current EBITDA of Trulieve? | Trulieve's last 12-month EBITDA is $592M. |
| What is the current EV/Revenue multiple of Trulieve? | Current revenue multiple of Trulieve is 0.9x. |
| What is the current EV/EBITDA multiple of Trulieve? | Current EBITDA multiple of Trulieve is 2.7x. |
| What is the current revenue growth of Trulieve? | Trulieve revenue growth between 2023 and 2024 was 5%. |
| Is Trulieve profitable? | Yes, Trulieve is EBITDA-positive (as of the last 12 months). |
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