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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 $1.3B
LTM EBITDA $375M
$598M
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 of $1.3B and a last 12-month EBITDA of $375M.
In the most recent fiscal year, Verano achieved revenue of $615M and an EBITDA of -$66.0M.
Verano expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Verano valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $656M | $615M | XXX | XXX | XXX |
| Gross Profit | $296M | $332M | XXX | XXX | XXX |
| Gross Margin | 45% | 54% | XXX | XXX | XXX |
| EBITDA | $167M | -$66.0M | XXX | XXX | XXX |
| EBITDA Margin | 25% | -11% | XXX | XXX | XXX |
| Net Profit | -$188M | -$82.1M | XXX | XXX | XXX |
| Net Margin | -29% | -13% | XXX | XXX | XXX |
| Net Debt | $230M | $189M | XXX | XXX | XXX |
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As of April 15, 2025, Verano's stock price is CAD 1 (or $0).
Verano has current market cap of CAD 251M (or $176M), and EV of CAD 855M (or $598M).
See Verano trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $598M | $176M | XXX | XXX | XXX | XXX | $-0.73 |
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Sign UpAs of April 15, 2025, Verano has market cap of $176M and EV of $598M.
Verano's trades at 0.7x LTM EV/Revenue multiple, and 2.3x LTM EBITDA.
Analysts estimate Verano's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Verano and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $598M | XXX | XXX | XXX |
| EV/Revenue | 1.0x | XXX | XXX | XXX |
| EV/EBITDA | -9.1x | XXX | XXX | XXX |
| P/E | -0.7x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | 65.0x | 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 UpVerano's NTM/LTM revenue growth is -2%
Verano's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Verano'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 Verano's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Verano and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -6% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -11% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -139% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | -12% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 40% | 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 |
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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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Sign Up| 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 $176M |
| What is the current revenue of Verano? | Verano's last 12-month revenue is $1.3B. |
| What is the current EBITDA of Verano? | Verano's last 12-month EBITDA is $375M. |
| What is the current EV/Revenue multiple of Verano? | Current revenue multiple of Verano is 0.7x. |
| What is the current EV/EBITDA multiple of Verano? | Current EBITDA multiple of Verano is 2.3x. |
| What is the current revenue growth of Verano? | Verano revenue growth between 2023 and 2024 was -6%. |
| Is Verano profitable? | Yes, Verano is EBITDA-positive (as of the last 12 months). |
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