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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.
2014
3.8K+
LTM Revenue $1.2B
LTM EBITDA $361M
$681M
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Verano has a last 12-month revenue (LTM) of $1.2B and a last 12-month EBITDA of $361M.
In the most recent fiscal year, Verano achieved revenue of $634M and an EBITDA of -$68.1M.
Verano expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Verano valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $1.2B | XXX | $634M | XXX | XXX | XXX |
| Gross Profit | $626M | XXX | $320M | XXX | XXX | XXX |
| Gross Margin | 51% | XXX | 51% | XXX | XXX | XXX |
| EBITDA | $361M | XXX | -$68.1M | XXX | XXX | XXX |
| EBITDA Margin | 29% | XXX | -11% | XXX | XXX | XXX |
| EBIT | -$145M | XXX | $65.3M | XXX | XXX | XXX |
| EBIT Margin | -12% | XXX | 10% | XXX | XXX | XXX |
| Net Profit | -$322M | XXX | -$247M | XXX | XXX | XXX |
| Net Margin | -26% | XXX | -39% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $235M | XXX | XXX | XXX |
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As of May 30, 2025, Verano's stock price is CAD 1 (or $1).
Verano has current market cap of CAD 327M (or $236M), and EV of CAD 943M (or $681M).
See Verano trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $681M | $236M | XXX | XXX | XXX | XXX | $-0.66 |
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Start Free TrialAs of May 30, 2025, Verano has market cap of $236M and EV of $681M.
Verano's trades at 1.1x EV/Revenue multiple, and -10.0x EV/EBITDA.
Equity research analysts estimate Verano's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Verano has a P/E ratio of -1.0x.
See valuation multiples for Verano and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $236M | XXX | $236M | XXX | XXX | XXX |
| EV (current) | $681M | XXX | $681M | XXX | XXX | XXX |
| EV/Revenue | 0.8x | XXX | 1.1x | XXX | XXX | XXX |
| EV/EBITDA | 2.6x | XXX | -10.0x | XXX | XXX | XXX |
| EV/EBIT | -6.5x | XXX | 10.4x | XXX | XXX | XXX |
| EV/Gross Profit | 1.5x | XXX | n/a | XXX | XXX | XXX |
| P/E | -1.0x | XXX | -1.0x | XXX | XXX | XXX |
| EV/FCF | 26.0x | XXX | 71.7x | 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.
Start Free TrialVerano's last 12 month revenue growth is -3%
Verano's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.
Verano's rule of 40 is 23% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Verano's rule of X is 23% (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).
See operational valuation multiples for Verano and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | -3% | XXX | 18% | XXX | XXX | XXX |
| EBITDA Margin | 29% | XXX | -11% | XXX | XXX | XXX |
| EBITDA Growth | -5% | XXX | 18% | XXX | XXX | XXX |
| Rule of 40 | 23% | XXX | -13% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 23% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.2M | 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 | 40% | 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 |
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Verano acquired XXX companies to date.
Last acquisition by Verano was XXXXXXXX, XXXXX XXXXX XXXXXX . Verano 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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Start Free Trial| When was Verano founded? | Verano was founded in 2014. |
| Where is Verano headquartered? | Verano is headquartered in Canada. |
| How many employees does Verano have? | As of today, Verano has 3.8K+ employees. |
| Is Verano publicy listed? | Yes, Verano is a public company listed on NEOE. |
| What is the stock symbol of Verano? | Verano trades under VRNO ticker. |
| When did Verano go public? | Verano went public in 2021. |
| Who are competitors of Verano? | Similar companies to Verano include e.g. Live Verdure, Ascend Wellness Holdings, Ayr Wellness, Cresco Labs. |
| What is the current market cap of Verano? | Verano's current market cap is $236M |
| What is the current revenue of Verano? | Verano's last 12 months revenue is $1.2B. |
| What is the current revenue growth of Verano? | Verano revenue growth (NTM/LTM) is -3%. |
| What is the current EV/Revenue multiple of Verano? | Current revenue multiple of Verano is 0.8x. |
| Is Verano profitable? | Yes, Verano is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Verano? | Verano's last 12 months EBITDA is $361M. |
| What is Verano's EBITDA margin? | Verano's last 12 months EBITDA margin is 29%. |
| What is the current EV/EBITDA multiple of Verano? | Current EBITDA multiple of Verano is 2.6x. |
| What is the current FCF of Verano? | Verano's last 12 months FCF is $36.2M. |
| What is Verano's FCF margin? | Verano's last 12 months FCF margin is 3%. |
| What is the current EV/FCF multiple of Verano? | Current FCF multiple of Verano is 26.0x. |
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