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Green Thumb Industries Inc GTBIF Stock Quote

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Morningstar‘s Stock Analysis GTBIF

Valuation
Currency in USD
Is it the right time to buy or sell?
Is it the right time to buy or sell?

1-Star Price

INVESTOR

5-Star Price

INVESTOR

Economic Moat

INVESTOR

Capital Allocation

INVESTOR

Green Thumb’s Profitability Grows in Q3 Despite Macroeconomic Headwinds; Shares Still Attractive

Analyst Note

| Kristoffer Inton |

Green Thumb’s results held up well into the third quarter, as highlighted by extended sequential improvement in both sales and EBITDA despite the continuing inflationary environment. Revenue increased 3% sequentially on continued demand growth in adult-use markets and strong retail sales in new stores, following the 5% revenue jump that solidified the second-quarter rebound. This drove adjusted EBITDA margin to 32%, compared with 28% in the first quarter. We’ve slightly trimmed our full-year revenue forecast to about $1 billion from $1.1 billion on slower-than-expected store openings in the back half of the year. However, this is immaterial to our unchanged fair value estimate of $45 for the no-moat firm. Green Thumb’s Canadian fair value estimate rises to CAD 61 from CAD 58 on a stronger U.S. dollar. Shares remain very undervalued as the market appears to underestimate the potential size of legal sales.

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Key Statistics GTBIF

Company Profile GTBIF

Business Description

Green Thumb Industries is headquartered in Chicago, Illinois, and produces and sells medicinal and recreational cannabis through wholesale and retail channels in the United States. It has a presence in 15 states and operates roughly 75 cannabis stores under the chains Rise and Essence. GTI is focusing its expansion on limited license states with large populations, and it does not currently export into the global medical market due to U.S. federal prohibition. It offers multiple products under a portfolio of cannabis consumer packaged goods brands, including Dr. Solomon’s, Dogwalkers, and Beboe.

Contact
325 West Huron Street, Suite 412
Chicago, IL, 60654
T +1 312 471-6720
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 3,800

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