Professional
Added to YB: 2024-06-06
Pitch date: 2024-05-28
GTBIF [bullish]
Green Thumb Industries Inc.
-37.29%
current return
Author Info
No bio for this author
Company Info
Green Thumb Industries Inc. manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States.
Market Cap
CAD 1.9B
Pitch Price
CAD 14.99
Price Target
24.00 (+155%)
Dividend
N/A
EV/EBITDA
6.51
P/E
47.27
EV/Sales
1.88
Sector
Pharmaceuticals
Category
growth
Green Thumb Industries Inc.: Few Surprises as Adjusted EBITDA Margin Remains Strong
GTBIF: Q1 rev flat but strong 33% EBITDA margin, +200bps to 53% gross margin. $24 FVE on mid-30s% EBITDA margin run-rate. Shares undervalued w/ catalysts: lower taxes & access to capital on US legalization. $14M buyback. Focused growth in limited license states. No-moat on unlikelihood of brands/cost adv. Risks: slow US legalization, regulation, black market, taxes. Exemplary stewardship: sound B/S, focused investments, CEO Kovler 26% stake. $24 PT.
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