Also trades as: TLRY.TO (TSX) · $vol 2M · 2HQ0.DE (XETRA) · $vol 0M · 2HQ.DE (XETRA) · $vol 0M

$2.77

+0.05 (+1.84%)

Weekly Expected Move ±5.9%

$2 $3 $3 $3 $3

NASDAQ · Healthcare · Drug Manufacturers - Specialty & Generic · Tech Score Strong Sell · Power 30 · $309.8M mcap · 134M float · 3.03% daily turnover · Short 52% of daily vol

Credit Risk of going bust: higher than 88% of companies Debt: 55.0% of company value Bonds: none of note held by US funds details ▾

If the stock fell to about $0.31 (down 89%), Tilray Brands, Inc. would be worth roughly what it owes.
Total debt $371.9M against a stock market value of $304.2M.
Distance to default 1.87 (Merton model): prices to 2026-10-26, balance sheet 2026-08-31, debt counted $154.3M (short-term plus half of long-term), stock volatility 77.2%; Altman Z'' -3.85. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Overview Chart Smart Money Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ESG Institutions ETF Exposure Dark Pool Short Interest Supply Chain

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NO EDGE

32.5 / 100

NoneWeakNarrowWide

Primary source: Efficient Scale · ROIC: -3.4% · 5Y Avg: -36.5%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale ★

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. TLRY has No discernible competitive edge (32.5/100). The business operates without significant structural advantages. The primary source of advantage is Efficient Scale. Negative ROIC of -3.4% indicates the company is currently destroying value, though this may reflect a growth investment phase.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

$10

Avg Target

$10

High

Based on 3 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 4Hold: 14Sell: 2Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$10.00

Analysts3

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-01-20	Roth Capital	—	$4	$10	+6	+11.9%	$8.94
2026-01-09	Industrial Alliance Securities	Aaron Grey	$3	$10	+7	+9.5%	$9.13
2025-12-19	Bernstein	—	Initiated	$10	—	-19.0%	$12.34
2025-08-25	Jefferies	Kaumil Gajrawala	$2	$2	+0	-85.6%	$13.90
2025-07-29	Jefferies	Kaumil Gajrawala	$2	$2	-1	-74.0%	$5.77
2024-10-11	Piper Sandler	Michael Lavery	Initiated	$2	—	-87.7%	$16.25
2024-09-11	Jefferies	Owen Bennett	Initiated	$2	—	-85.2%	$16.85
2023-01-10	Industrial Alliance Securities	—	Initiated	$3	—	-89.1%	$27.60
2022-09-30	Barclays	—	$4	$2	-2	-93.0%	$28.50
2022-08-02	Cantor Fitzgerald	—	$6	$4	-2	-87.9%	$34.20
2022-07-27	Roth Capital	Scott Fortune	$8	$4	-4	-87.6%	$32.15
2022-06-24	Cantor Fitzgerald	—	$6	$6	-0	-83.9%	$35.70
2022-06-15	Canaccord Genuity	—	$9	$7	-2	-77.8%	$31.60
2022-04-29	Cantor Fitzgerald	Pablo Zuanic	Initiated	$6	—	-87.9%	$50.90
2022-04-25	Roth Capital	Scott Fortune	$12	$8	-4	-84.2%	$50.55
2022-04-24	Barclays	Gaurav Jain	$8	$4	-4	-91.4%	$52.40
2022-04-19	MKM Partners	William Kirk	Initiated	$8	—	-85.6%	$55.45
2022-03-04	Canaccord Genuity	Matt Bottomley	Initiated	$9	—	-82.8%	$52.40
2022-01-06	CIBC	John Zamparo	Initiated	$8	—	-87.5%	$64.20
2021-12-12	Barclays	Gaurav Jain	Initiated	$8	—	-89.7%	$82.90
2021-10-07	RBC Capital	Douglas Miehm	Initiated	$19	—	-81.9%	$104.90
2021-10-07	PI Financial	Jason Zandberg	Initiated	$16	—	-84.7%	$104.90
2021-10-07	Bank of America Securities	Heather Balsky	Initiated	$15	—	-85.7%	$104.90
2021-09-15	Roth Capital	Scott Fortune	Initiated	$12	—	-90.0%	$120.10

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

Oct 27, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. TLRY receives an overall rating of C. Strongest factors: P/B (5/5). Areas of concern: DCF (1/5), ROE (1/5), ROA (1/5), D/E (2/5), P/E (1/5).

Rating Change History

Date	From	To
2026-08-10	C+	C
2026-08-04	C	C+
2026-07-30	C+	C
2026-07-25	C	C+
2026-07-22	C+	C
2026-07-20	C	C+
2026-07-02	C+	C
2026-07-01	C	C+
2026-04-07	D+	C
2026-04-01	C+	D+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 25 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. TLRY scores highest in Earnings Quality (57/100) and lowest in Safety (0/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

-2.03

Distress Zone

Piotroski F-Score

3/9

✗ ✗ ✓ ✓ ✗ ✗ ✗ ✓ ✗

Beneish M-Score

-2.19

Unlikely Manipulator

Ohlson O-Score

-8.21

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

B-

Score: 24.2/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: 0.54x

Accruals: -2.9%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. TLRY scores -2.03, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. TLRY scores 3/9, suggesting weak financial fundamentals — the company fails the majority of these accounting tests. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. TLRY's score of -2.19 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. TLRY's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. TLRY receives an estimated rating of B- (score: 24.2/100), with a deteriorating trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-1.97x

PEG

-0.02x

P/S

0.32x

P/B

0.23x

P/FCF

-4.81x

P/OCF

—

EV/EBITDA

-41.21x

EV/Revenue

0.79x

EV/EBIT

-8.56x

EV/FCF

-6.02x

Earnings Yield

-26.95%

FCF Yield

-20.79%

Shareholder Yield

0.00%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. TLRY currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

1.308

NI / EBT

Interest Burden

1.408

EBT / EBIT

EBIT Margin

-0.093

EBIT / Rev

Asset Turnover

0.371

Rev / Assets

Equity Multiplier

1.387

Assets / Equity

ROE

-8.8%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. TLRY's ROE of -8.8% is driven by Asset Turnover (0.371), indicating efficient use of assets to generate revenue. A tax burden ratio of 1.31 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$2.77

Median 1Y

$0.86

5th Pctile

$0.16

95th Pctile

$4.51

Ann. Volatility

103.5%

25th–75th percentile 5th–95th percentile Median path Historical

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Irwin Simon President, Chief Executive Officer and Chairman of the Board	$2,057,580	$18,816,501	$22,157,305
Denise Faltischek Strategy rategy Officer and Head of M&A	$642,735	$3,059,122	$3,872,985
Mitchell Gendel Global General Counsel and Corporate Secretary	$599,886	$2,727,471	$3,519,654
Carl Merton Financial ancial Officer	$411,656	$2,645,268	$3,238,221
Roger Savell Administrative rative Officer	$562,316	$2,363,875	$3,070,676

CEO Pay Ratio

270:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $22,157,305

Avg Employee Cost (SGA/emp): $82,127

Employees: 3,595

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

3,595

+26.5% YoY

Revenue / Employee

$254,646

Rev: $915,454,000

Profit / Employee

$-34,094

NI: $-122,567,000

SGA / Employee

$82,127

Avg labor cost proxy

R&D / Employee

$100

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
ROE	-4.3%	0.6%	-12.0%	-11.3%	-12.6%	-45.4%	-39.4%	-37.5%	-36.7%	-10.4%	-7.3%	-6.2%	-7.2%	-31.9%	-90.4%	-88.3%	-83.0%	-66.1%	-6.6%	-8.8%	-8.78%
ROA	-3.1%	0.5%	-9.3%	-8.7%	-10.0%	-35.7%	-30.8%	-29.6%	-29.3%	-8.2%	-5.6%	-4.9%	-5.8%	-25.5%	-69.4%	-69.8%	-66.7%	-52.0%	-4.6%	-6.3%	-6.33%
ROIC	-3.2%	-4.1%	-10.5%	-9.1%	-8.9%	-37.6%	-31.6%	-31.5%	-29.9%	-5.4%	-3.8%	-3.9%	-3.8%	-23.8%	-1.2%	-1.1%	-1.1%	-96.8%	-2.2%	-3.4%	-3.43%
ROCE	-0.6%	1.8%	-7.7%	-7.9%	-9.7%	-44.5%	-35.7%	-36.0%	-34.7%	-6.5%	-4.9%	-4.7%	-5.5%	-28.6%	-1.3%	-1.3%	-1.2%	-1.1%	-2.5%	-4.7%	-4.70%
Gross Margin	21.1%	26.2%	-4.4%	31.7%	29.8%	-8.0%	36.5%	25.0%	24.5%	26.2%	35.8%	29.8%	29.0%	28.0%	30.1%	27.4%	26.4%	26.6%	29.9%	30.1%	30.14%
Operating Margin	-35.8%	-11.9%	-3.0%	-13.8%	-35.9%	-8.3%	-48.9%	-19.4%	-21.6%	-43.6%	-7.2%	-18.3%	-20.0%	-4.1%	-6.4%	1.0%	-10.2%	-12.8%	-1.6%	-9.4%	-9.35%
Net Margin	-0.1%	28.4%	-3.1%	-48.0%	-48.2%	-8.0%	-75.3%	-40.4%	-25.3%	-49.2%	-13.8%	-19.6%	-40.5%	-4.2%	-5.7%	-0.2%	-20.7%	-12.9%	-17.6%	-16.8%	-16.78%
EBITDA Margin	30.6%	59.2%	-2.6%	-13.1%	-25.6%	-8.0%	-24.2%	-4.5%	-4.8%	-35.3%	4.8%	3.9%	-19.6%	-4.0%	-6.0%	10.3%	-8.6%	-0.8%	5.3%	-5.1%	-5.13%
FCF Margin	-29.2%	-29.3%	-33.3%	-24.4%	-16.2%	-11.6%	-1.9%	2.5%	-6.4%	-6.9%	-7.5%	-10.0%	-11.1%	-10.1%	-15.3%	-11.5%	-8.7%	-9.4%	-11.5%	-13.2%	-13.16%
OCF Margin	-23.0%	-23.9%	-27.9%	-21.1%	-13.4%	-9.2%	1.4%	5.8%	-3.1%	-2.6%	-3.9%	-6.1%	-7.4%	-5.8%	-11.3%	-7.2%	-3.6%	-5.5%	-7.4%	-9.1%	-9.15%
ROE 3Y Avg	snapshot only																				-52.77%
ROE 5Y Avg	snapshot only																				-42.44%
ROA 3Y Avg	snapshot only																				-39.05%
ROIC 3Y Avg	snapshot only																				-36.30%
ROIC Economic	snapshot only																				-3.09%
Cash ROA	snapshot only																				-3.78%
Cash ROIC	snapshot only																				-4.96%
CROIC	snapshot only																				-7.13%
NOPAT Margin	snapshot only																				-6.33%
Pretax Margin	snapshot only																				-13.04%
R&D / Revenue	snapshot only																				0.04%
SGA / Revenue	snapshot only																				33.02%
SBC / Revenue	snapshot only																				3.89%

Valuation

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
P/E Ratio	-34.52	150.00	-3.80	-3.39	-2.94	-0.73	-0.68	-1.04	-0.68	-2.74	-4.30	-5.19	-3.40	-0.49	-0.14	-0.49	-0.31	-0.49	-5.07	-3.71	-1.972
P/S Ratio	6.44	3.79	2.87	2.78	2.77	2.21	1.58	2.32	1.39	1.30	1.33	1.36	1.02	0.58	0.37	1.26	0.83	0.87	0.62	0.63	0.321
P/B Ratio	0.82	0.51	0.41	0.37	0.36	0.38	0.30	0.45	0.29	0.29	0.30	0.32	0.24	0.17	0.20	0.69	0.41	0.57	0.38	0.38	0.227
P/FCF	-22.09	-12.94	-8.63	-11.40	-17.07	-19.16	-85.38	93.06	-21.96	-18.90	-17.71	-13.57	-9.17	-5.74	-2.38	-10.98	-9.50	-9.27	-5.40	-4.81	-4.809
P/OCF	—	—	—	—	—	—	112.37	39.99	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/EBITDA	53.61	11.90	-8.24	-6.68	-5.11	-0.92	-0.88	-1.27	-1.00	-9.50	-16.21	-21.25	-10.85	-0.72	-0.17	-0.52	-0.32	-0.54	32.40	-41.21	-41.205
EV/Revenue	7.27	4.52	3.20	3.06	3.08	2.55	1.81	2.47	1.78	1.64	1.50	1.49	1.17	0.70	0.45	1.33	0.87	0.96	0.79	0.79	0.793
EV/EBIT	-127.23	28.55	-5.05	-4.37	-3.65	-0.85	-0.80	-1.15	-0.91	-4.83	-5.91	-6.55	-4.42	-0.62	-0.16	-0.49	-0.31	-0.51	-15.91	-8.56	-8.557
EV/FCF	-24.94	-15.44	-9.62	-12.54	-18.93	-22.09	-97.58	98.99	-27.98	-23.92	-19.85	-14.90	-10.51	-6.93	-2.95	-11.58	-9.91	-10.28	-6.87	-6.02	-6.024
Earnings Yield	-2.9%	0.7%	-26.3%	-29.5%	-34.0%	-1.4%	-1.5%	-96.3%	-1.5%	-36.5%	-23.3%	-19.3%	-29.4%	-2.0%	-7.3%	-2.1%	-3.3%	-2.1%	-19.7%	-26.9%	-26.95%
FCF Yield	-4.5%	-7.7%	-11.6%	-8.8%	-5.9%	-5.2%	-1.2%	1.1%	-4.6%	-5.3%	-5.6%	-7.4%	-10.9%	-17.4%	-42.0%	-9.1%	-10.5%	-10.8%	-18.5%	-20.8%	-20.79%
Price/Tangible Book	snapshot only																				0.735
EV/Gross Profit	snapshot only																				2.783
Shareholder Yield	snapshot only																				0.00%

Leverage & Solvency

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
Current Ratio	2.25	2.46	2.87	3.33	1.91	1.61	1.79	1.54	1.63	1.92	2.27	2.47	2.54	2.62	2.46	2.62	2.81	2.79	2.21	1.88	1.875
Quick Ratio	1.51	1.50	1.99	2.44	1.35	1.18	1.32	1.11	0.99	1.18	1.42	1.57	1.58	1.61	1.49	1.56	1.72	1.66	1.37	1.11	1.111
Debt/Equity	0.18	0.16	0.14	0.15	0.14	0.18	0.18	0.17	0.16	0.14	0.11	0.11	0.11	0.13	0.22	0.21	0.20	0.20	0.25	0.23	0.229
Net Debt/Equity	0.11	0.10	0.05	0.04	0.04	0.06	0.04	0.03	0.08	0.08	0.04	0.03	0.03	0.03	0.05	0.04	0.02	0.06	0.10	0.09	0.095
Debt/Assets	0.14	0.13	0.11	0.12	0.11	0.14	0.13	0.13	0.12	0.11	0.09	0.09	0.09	0.10	0.16	0.16	0.15	0.15	0.17	0.16	0.160
Debt/EBITDA	10.44	3.12	-2.55	-2.40	-1.75	-0.38	-0.46	-0.44	-0.43	-3.76	-5.34	-6.78	-4.27	-0.45	-0.15	-0.15	-0.15	-0.17	16.48	-20.08	-20.078
Net Debt/EBITDA	6.11	1.93	-0.85	-0.61	-0.50	-0.12	-0.11	-0.08	-0.22	-2.00	-1.75	-1.89	-1.39	-0.12	-0.03	-0.03	-0.01	-0.05	6.91	-8.31	-8.309
Interest Coverage	-0.81	2.93	-10.05	-12.75	-18.99	-71.36	-104.84	-73.41	-55.66	-7.89	-5.48	-5.08	-6.19	-26.43	-75.83	-82.98	-94.95	-77.47	-1.88	-3.80	-3.804
Equity Multiplier	1.30	1.26	1.24	1.24	1.22	1.29	1.33	1.30	1.29	1.25	1.26	1.23	1.21	1.25	1.40	1.35	1.33	1.33	1.44	1.43	1.434
Cash Ratio	snapshot only																				0.506
Debt Service Coverage	snapshot only																				-0.790
Cash to Debt	snapshot only																				0.586
FCF to Debt	snapshot only																				-0.341
Defensive Interval	snapshot only																				424.3 days

Efficiency & Turnover

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
Asset Turnover	0.17	0.18	0.12	0.11	0.11	0.12	0.13	0.13	0.14	0.17	0.18	0.19	0.19	0.22	0.26	0.27	0.25	0.29	0.38	0.37	0.371
Inventory Turnover	2.57	2.65	2.29	2.00	1.98	2.21	2.23	2.17	2.25	2.39	2.50	2.32	2.21	2.23	2.26	2.22	2.03	2.19	2.13	1.92	1.920
Receivables Turnover	9.27	10.67	7.06	6.26	6.82	7.12	7.13	7.33	7.78	8.82	8.41	8.76	8.09	8.47	7.48	8.07	6.98	7.62	5.58	5.70	5.704
Payables Turnover	7.12	10.00	8.30	7.19	6.67	7.64	7.10	6.66	6.76	6.78	6.42	6.36	6.11	5.98	5.55	5.71	5.21	5.70	3.09	2.83	2.825
DSO	39	34	52	58	54	51	51	50	47	41	43	42	45	43	49	45	52	48	65	64	64.0 days
DIO	142	138	159	182	184	165	164	169	162	153	146	158	165	164	162	164	180	167	171	190	190.1 days
DPO	51	37	44	51	55	48	51	55	54	54	57	57	60	61	66	64	70	64	118	129	129.2 days
Cash Conversion Cycle	130	135	167	190	183	168	164	164	155	141	132	142	151	146	145	146	162	151	118	125	124.9 days
Fixed Asset Turnover	snapshot only																				22.915
Operating Cycle	snapshot only																				254.1 days
Cash Velocity	snapshot only																				4.418
Capital Intensity	snapshot only																				2.417

Growth (YoY)

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
Revenue	1.5%	93.1%	1.5%	27.8%	8.2%	0.1%	5.8%	12.0%	21.3%	27.8%	27.2%	25.1%	19.6%	14.0%	6.6%	5.3%	-4.6%	-11.0%	-12.9%	-16.9%	-16.92%
Net Income	-3.3%	1.2%	-6.3%	-3.6%	-4.5%	-121.1%	-2.3%	-2.1%	-1.6%	80.1%	83.1%	85.4%	82.4%	-1.8%	-8.2%	-9.4%	-7.6%	-34.1%	96.0%	94.5%	94.54%
EPS	-2.0%	1.1%	-5.4%	-2.6%	-3.5%	-96.3%	-1.1%	-1.5%	-1.0%	83.7%	83.0%	88.5%	85.2%	-1.4%	-6.5%	-7.6%	-5.7%	-8.1%	96.5%	95.7%	95.66%
FCF	52.0%	47.6%	-5.2%	42.2%	39.7%	60.5%	94.1%	1.1%	52.6%	24.0%	-4.2%	-6.0%	-1.1%	-68.3%	-1.2%	-20.8%	25.3%	17.7%	34.8%	4.9%	4.94%
EBITDA	-10.3%	11.7%	-25.7%	-9.0%	-5.8%	-8.3%	-4.6%	-3.8%	-2.6%	92.0%	94.3%	95.5%	92.7%	-5.4%	-29.1%	-37.2%	-22.8%	-64.3%	1.0%	99.4%	99.37%
Op. Income	-6.2%	-4.6%	-6.7%	-2.7%	-1.8%	-8.1%	-1.4%	-1.6%	-1.6%	85.6%	87.3%	87.2%	87.0%	-2.7%	-12.4%	-12.1%	-11.8%	-65.0%	98.4%	97.5%	97.54%
OCF Growth	snapshot only																				-5.49%
Asset Growth	snapshot only																				-18.63%
Equity Growth	snapshot only																				-23.30%
Debt Growth	snapshot only																				-16.37%
Shares Change	snapshot only																				25.76%

Growth (CAGR)

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
Revenue 3Y	—	—	—	—	3.2%	2.1%	91.8%	60.3%	47.7%	35.2%	50.6%	21.4%	16.2%	13.4%	12.8%	13.8%	11.4%	9.0%	5.7%	3.0%	3.04%
Revenue 5Y	—	—	—	—	—	—	—	—	—	—	—	—	1.6%	1.1%	57.1%	40.3%	29.8%	20.2%	26.0%	9.4%	9.38%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	14.1%	—	—
Gross Profit 3Y	—	—	—	—	1.5%	86.1%	66.3%	35.9%	27.5%	30.5%	88.6%	32.6%	31.7%	28.5%	31.2%	31.0%	22.9%	43.0%	12.0%	12.6%	12.57%
Gross Profit 5Y	—	—	—	—	—	—	—	—	—	—	—	—	1.0%	87.9%	50.9%	34.1%	26.0%	17.5%	43.5%	14.6%	14.55%
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Assets 3Y	—	—	—	—	1.9%	1.7%	64.0%	62.9%	62.0%	69.2%	-0.7%	-8.6%	-7.4%	-12.8%	-24.9%	-27.0%	-26.5%	-29.6%	-26.8%	-26.9%	-26.91%
Assets 5Y	—	—	—	—	—	—	—	—	—	—	—	—	82.4%	76.1%	16.7%	15.7%	16.3%	11.9%	-17.3%	-20.9%	-20.91%
Equity 3Y	—	—	—	—	1.9%	1.7%	1.1%	1.0%	1.0%	1.6%	1.7%	-4.7%	-5.1%	-12.5%	-27.9%	-29.1%	-28.5%	-30.5%	-28.8%	-29.2%	-29.22%
Book Value 3Y	—	—	—	—	1.0%	86.1%	35.8%	36.5%	33.7%	80.9%	-16.0%	-23.7%	-23.1%	-28.9%	-42.1%	-42.2%	-42.9%	-43.2%	-36.3%	-43.1%	-43.14%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
Revenue Stability	0.99	1.00	0.94	0.95	0.94	0.89	0.92	0.90	0.88	0.87	0.88	0.98	0.94	0.91	0.92	0.95	0.91	0.84	0.76	0.63	0.625
Earnings Stability	0.55	0.07	0.91	0.95	0.74	0.61	0.85	0.87	0.78	0.27	0.27	0.25	0.35	0.34	0.58	0.56	0.58	0.35	0.07	0.06	0.062
Margin Stability	0.15	0.49	0.51	0.65	0.11	0.37	0.60	0.69	0.76	0.64	0.72	0.81	0.08	0.44	0.76	0.75	0.80	0.70	0.75	0.86	0.860
Rev. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.000
Earn. Growth Consistency	0.00	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.500
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	0.20	0.20	0.50	0.50	0.50	0.20	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.86	0.50	0.50	0.500
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	-0.11	0.05	-0.17	-0.17	-0.16	-0.35	-0.38	-0.36	-0.35	0.15	0.20	0.21	0.20	-0.03	-1.22	-1.17	-1.08	-0.94	0.70	0.64	0.640
Gross Margin Trend	-0.47	-0.23	-0.07	-0.10	-0.06	-0.14	0.07	0.01	0.00	0.11	0.07	0.09	0.10	0.11	0.03	0.03	0.02	-0.02	-0.01	-0.01	-0.006
FCF Margin Trend	2.52	1.84	0.65	0.80	0.73	0.57	0.22	0.42	0.16	0.14	0.10	0.01	0.00	-0.01	-0.11	-0.08	0.00	-0.01	-0.00	-0.02	-0.024
Sustainable Growth Rate	—	0.6%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Internal Growth Rate	—	0.5%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Cash Flow Quality

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
OCF/Net Income	1.23	-9.45	0.37	0.26	0.14	0.03	-0.01	-0.03	0.02	0.05	0.12	0.23	0.25	0.05	0.04	0.03	0.01	0.03	0.60	0.54	0.536
FCF/OCF	1.27	1.23	1.19	1.16	1.22	1.25	-1.32	0.43	2.06	2.65	1.95	1.64	1.51	1.73	1.35	1.60	2.44	1.72	1.55	1.44	1.438
FCF/Net Income	snapshot only																				0.772
CapEx/Revenue	6.2%	5.4%	5.4%	3.3%	2.9%	2.3%	3.3%	3.3%	3.3%	4.3%	3.7%	3.9%	3.8%	4.3%	4.0%	4.3%	5.2%	3.9%	4.1%	4.0%	4.01%
CapEx/Depreciation	snapshot only																				0.546
Accruals Ratio	0.01	0.05	-0.06	-0.06	-0.09	-0.35	-0.31	-0.30	-0.29	-0.08	-0.05	-0.04	-0.04	-0.24	-0.66	-0.68	-0.66	-0.50	-0.02	-0.03	-0.029
Sloan Accruals	snapshot only																				-0.111
Cash Flow Adequacy	snapshot only																				-2.282

Dividends & Buybacks

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	0.0%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF Payout Ratio	—	—	—	—	—	—	—	0.0%	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Payout Ratio	—	20.0%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.1%	0.1%	0.0%	0.1%	0.2%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	-1.6%	0.0%	-14.4%	-22.7%	-22.6%	-28.3%	-12.4%	-0.1%	-0.1%	-0.0%	-0.8%	-6.8%	-14.1%	-29.8%	-53.0%	-11.1%	-19.0%	-15.3%	-30.5%	-29.4%	-29.40%
Total Shareholder Return	-1.6%	0.0%	-14.4%	-22.7%	-22.6%	-28.3%	-12.4%	-0.1%	-0.1%	-0.0%	-0.8%	-6.8%	-14.1%	-29.8%	-53.0%	-11.1%	-19.0%	-15.3%	-30.5%	-29.4%	-29.40%

DuPont Factors

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
Tax Burden (NI/EBT)	1.57	0.24	1.08	1.08	1.06	0.99	1.00	1.01	1.01	1.11	0.98	0.91	0.93	0.99	0.95	0.95	0.95	0.92	1.38	1.31	1.308
Interest Burden (EBT/EBIT)	2.07	0.66	1.10	1.08	1.05	1.01	1.03	1.04	1.04	1.26	1.25	1.27	1.22	1.05	1.02	1.02	1.02	1.02	1.79	1.41	1.408
EBIT Margin	-0.06	0.16	-0.63	-0.70	-0.84	-3.01	-2.26	-2.14	-1.95	-0.34	-0.25	-0.23	-0.27	-1.13	-2.77	-2.69	-2.82	-1.90	-0.05	-0.09	-0.093
Asset Turnover	0.17	0.18	0.12	0.11	0.11	0.12	0.13	0.13	0.14	0.17	0.18	0.19	0.19	0.22	0.26	0.27	0.25	0.29	0.38	0.37	0.371
Equity Multiplier	1.41	1.40	1.29	1.31	1.26	1.27	1.28	1.26	1.25	1.27	1.29	1.26	1.25	1.25	1.30	1.26	1.24	1.27	1.42	1.39	1.387

Per Share

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
EPS (Diluted TTM)	$-2.93	$0.41	$-11.80	$-11.20	$-13.17	$-38.76	$-24.67	$-28.51	$-26.59	$-6.31	$-4.19	$-3.29	$-3.95	$-14.93	$-31.28	$-28.36	$-26.57	$-16.14	$-1.09	$-1.23	$-1.23
Book Value/Share	$123.35	$120.55	$109.01	$103.28	$107.65	$75.23	$55.91	$66.22	$62.41	$60.43	$59.11	$53.59	$56.16	$43.41	$21.21	$19.96	$20.00	$13.82	$14.44	$12.17	$12.05
Tangible Book/Share	$4.79	$6.86	$11.89	$15.91	$15.27	$8.92	$5.62	$7.88	$7.51	$7.54	$8.90	$8.62	$9.79	$9.27	$10.35	$9.89	$10.19	$6.94	$7.33	$6.21	$6.21
Revenue/Share	$15.71	$16.10	$15.65	$13.66	$13.96	$12.79	$10.54	$12.74	$12.98	$13.33	$13.49	$12.58	$13.11	$12.62	$11.67	$10.93	$9.80	$9.05	$8.89	$7.22	$7.22
FCF/Share	$-4.58	$-4.72	$-5.21	$-3.33	$-2.27	$-1.48	$-0.20	$0.32	$-0.82	$-0.92	$-1.02	$-1.26	$-1.46	$-1.28	$-1.79	$-1.26	$-0.86	$-0.85	$-1.02	$-0.95	$-0.95
OCF/Share	$-3.61	$-3.84	$-4.37	$-2.88	$-1.86	$-1.18	$0.15	$0.74	$-0.40	$-0.35	$-0.52	$-0.77	$-0.97	$-0.74	$-1.32	$-0.79	$-0.35	$-0.50	$-0.66	$-0.66	$-0.66
Cash/Share	$9.23	$7.27	$10.31	$11.20	$10.44	$9.02	$7.56	$9.14	$4.84	$4.06	$4.47	$4.32	$4.08	$3.95	$3.60	$3.43	$3.69	$1.95	$2.07	$1.63	$1.63
EBITDA/Share	$2.13	$6.12	$-6.07	$-6.26	$-8.40	$-35.40	$-21.66	$-24.81	$-22.96	$-2.31	$-1.24	$-0.88	$-1.42	$-12.29	$-30.42	$-27.88	$-26.43	$-16.28	$0.22	$-0.14	$-0.14
Debt/Share	$22.24	$19.09	$15.46	$15.01	$14.66	$13.34	$9.95	$11.03	$9.81	$8.67	$6.65	$5.98	$6.04	$5.47	$4.61	$4.19	$4.05	$2.81	$3.56	$2.79	$2.79
Net Debt/Share	$13.01	$11.82	$5.15	$3.82	$4.22	$4.32	$2.39	$1.89	$4.97	$4.60	$2.18	$1.67	$1.97	$1.52	$1.02	$0.76	$0.36	$0.86	$1.49	$1.15	$1.15

Academic Models

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-2.026
Altman Z-Prime	snapshot only																				-5.327
Piotroski F-Score	1	4	4	5	4	2	4	3	2	6	6	6	6	5	3	3	3	3	2	3	3
Beneish M-Score	-0.74	-0.51	-4.29	-2.79	-2.99	-6.71	-4.62	-4.08	-3.88	-3.39	-2.51	-2.55	-2.55	-3.63	-7.40	-7.67	-7.50	-7.05	-2.59	-2.19	-2.190
Ohlson O-Score	snapshot only																				-8.212
ROIC (Greenblatt)	snapshot only																				-21.29%
Net-Net WC	snapshot only																				$0.65
EVA	snapshot only																				$-238724490.00

Credit

Metric	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Q1'27	Current
Credit Rating	snapshot only																				B-
Credit Score	30.19	44.80	36.85	38.79	35.60	29.07	29.77	31.26	27.35	28.94	30.77	36.13	31.95	31.37	27.84	29.49	29.50	29.95	18.88	24.21	24.214
Credit Grade	snapshot only																				16
Credit Trend	snapshot only																				-5.277
Implied Spread (bps)	snapshot only																				900.000
Industry Credit Rank	snapshot only																				7
Sector Credit Rank	snapshot only																				11

TLRY NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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