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Verano Holdings Valuation Multiples
Discover revenue and EBITDA valuation multiples for Verano Holdings and similar public comparables like SNDL, Canopy Growth, Vireo Growth, Cresco Labs and more.
Verano Holdings Overview
About Verano Holdings
Verano Holdings Corp is a vertically integrated multi-state cannabis operator in the United States. The Company has two reportable segments: (i) cultivation (wholesale) and (ii) retail. The company's consumer brands include Encore, Avexia, MUV, Savvy, BITS and Verano. The company's retail dispensaries operate under brands including Zen Leaf and MUV. The company derives its revenues from Retail segment.
Founded
2014
HQ
Employees
3.8K
Website
Financials (LTM)
EV
$825M
Verano Holdings Financials
Verano Holdings reported last 12-month revenue of $823M and EBITDA of $230M.
In the same LTM period, Verano Holdings generated $408M in gross profit, $230M in EBITDA, and had net loss of ($92M).
Revenue (LTM)
Verano Holdings P&L
In the most recent fiscal year, Verano Holdings reported revenue of $879M and EBITDA of $264M.
Verano Holdings expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $823M | XXX | $879M | XXX | XXX | XXX |
| Gross Profit | $408M | XXX | $444M | XXX | XXX | XXX |
| Gross Margin | 50% | XXX | 51% | XXX | XXX | XXX |
| EBITDA | $230M | XXX | $264M | XXX | XXX | XXX |
| EBITDA Margin | 28% | XXX | 30% | XXX | XXX | XXX |
| EBIT Margin | 9% | XXX | 10% | XXX | XXX | XXX |
| Net Profit | ($92M) | XXX | ($342M) | XXX | XXX | XXX |
| Net Margin | (11%) | XXX | (39%) | XXX | XXX | XXX |
| Net Debt | — | — | $326M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Verano Holdings Stock Performance
Verano Holdings has current market cap of $402M, and enterprise value of $825M.
Market Cap Evolution
Verano Holdings' stock price is $1.11.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $825M | $402M | 0.0% | XXX | XXX | XXX | $-0.94 |
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Start Free TrialVerano Holdings Valuation Multiples
Verano Holdings trades at 1.0x EV/Revenue multiple, and 3.6x EV/EBITDA.
EV / Revenue (LTM)
Verano Holdings Financial Valuation Multiples
As of March 7, 2026, Verano Holdings has market cap of $402M and EV of $825M.
Equity research analysts estimate Verano Holdings' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Verano Holdings has a P/E ratio of (4.4x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $402M | XXX | $402M | XXX | XXX | XXX |
| EV (current) | $825M | XXX | $825M | XXX | XXX | XXX |
| EV/Revenue | 1.0x | XXX | 0.9x | XXX | XXX | XXX |
| EV/EBITDA | 3.6x | XXX | 3.1x | XXX | XXX | XXX |
| EV/EBIT | 11.2x | XXX | 9.1x | XXX | XXX | XXX |
| EV/Gross Profit | 2.0x | XXX | 1.9x | XXX | XXX | XXX |
| P/E | (4.4x) | XXX | (1.2x) | XXX | XXX | XXX |
| EV/FCF | 19.1x | XXX | 62.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Verano 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.
Verano Holdings Margins & Growth Rates
Verano Holdings' revenue in the last 12 month grew by 2%.
Verano Holdings' revenue per employee in the last FY averaged $0.2M.
Verano Holdings' rule of 40 is 30% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Verano Holdings' rule of X is 32% (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).
Verano Holdings Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 2% | XXX | (7%) | XXX | XXX | XXX |
| EBITDA Margin | 28% | XXX | 30% | XXX | XXX | XXX |
| EBITDA Growth | 2% | XXX | (13%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 30% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 32% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 30% | XXX | — | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 40% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verano Holdings Public Comps
See public comps and valuation multiples for other Cannabis comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| SNDL | XXX | XXX | XXX | XXX | XXX | XXX |
| Canopy Growth | XXX | XXX | XXX | XXX | XXX | XXX |
| Vireo Growth | XXX | XXX | XXX | XXX | XXX | XXX |
| Cresco Labs | XXX | XXX | XXX | XXX | XXX | XXX |
| High Tide | 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.
Verano Holdings M&A Activity
Verano Holdings acquired XXX companies to date.
Last acquisition by Verano Holdings was on XXXXXXXX, XXXXX. Verano Holdings acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Verano 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 TrialVerano Holdings Investment Activity
Verano Holdings invested in XXX companies to date.
Verano Holdings made its latest investment on XXXXXXXX, XXXXX. Verano Holdings invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Verano 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 Verano Holdings
| When was Verano Holdings founded? | Verano Holdings was founded in 2014. |
| Where is Verano Holdings headquartered? | Verano Holdings is headquartered in Canada. |
| How many employees does Verano Holdings have? | As of today, Verano Holdings has over 3K employees. |
| Is Verano Holdings publicly listed? | Yes, Verano Holdings is a public company listed on OTC Pink Sheets. |
| What is the stock symbol of Verano Holdings? | Verano Holdings trades under VRNO ticker. |
| When did Verano Holdings go public? | Verano Holdings went public in 2021. |
| Who are competitors of Verano Holdings? | Verano Holdings main competitors are SNDL, Canopy Growth, Vireo Growth, Cresco Labs. |
| What is the current market cap of Verano Holdings? | Verano Holdings' current market cap is $402M. |
| What is the current revenue of Verano Holdings? | Verano Holdings' last 12 months revenue is $823M. |
| What is the current revenue growth of Verano Holdings? | Verano Holdings revenue growth (NTM/LTM) is 2%. |
| What is the current EV/Revenue multiple of Verano Holdings? | Current revenue multiple of Verano Holdings is 1.0x. |
| Is Verano Holdings profitable? | Yes, Verano Holdings is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Verano Holdings? | Verano Holdings' last 12 months EBITDA is $230M. |
| What is Verano Holdings' EBITDA margin? | Verano Holdings' last 12 months EBITDA margin is 28%. |
| What is the current EV/EBITDA multiple of Verano Holdings? | Current EBITDA multiple of Verano Holdings is 3.6x. |
| What is the current FCF of Verano Holdings? | Verano Holdings' last 12 months FCF is $43M. |
| What is Verano Holdings' FCF margin? | Verano Holdings' last 12 months FCF margin is 5%. |
| What is the current EV/FCF multiple of Verano Holdings? | Current FCF multiple of Verano Holdings is 19.1x. |
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