NewLake Capital Partners (NLCP) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

NewLake Capital Partners

OTC Markets OTCQX•Real Estate•REIT - Specialty

$15.84+0.21(0.01%)Market closed

Market Cap

$325.13M

P/E

13.3x

P/S

6.6x

P/B

0.8x

NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects. NewLake owns a portfolio of 34 properties, including 15 cultivation facilities and 19 dispensaries, primarily leased to single tenants under triple-net lease agreements. NewLake Capital Partners, Inc. was formed and incorporated on April 9, 2019 in Maryland, USA.

How this company scores

AverageMetricSide Score: 56/100

Strongest: Cash & Earnings Quality (18/25); weakest: Growth (8/25).

Profitability15/25

Growth8/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality18/25

Strengths

Strong marginsInterest easily coveredCash-backed earningsConsistent free cash flow

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 13.3x5y range 10.7x – 32.3x

Currently near its 18-quarter median.

P/S · 6.6x5y range 5.5x – 14.1x

Currently near its 18-quarter median.

P/B · 0.8x5y range 0.6x – 1.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Revenue Decline

Watch

Revenue has softened, declining in 4 quarters. Watch for further erosion.

Price & Volume

Market Cap $325.13M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $49.33M
Q. Revenue: $12.09M
TTM EBITDA: $40.83M
TTM Op. Income: $25.34M
Q. Op. Income: $6.13M
TTM Net Income: $24.37M
Q. Net Income: $5.90M
EPS: $0.29
Shares Out.: $20.64M

$49.33M in TTM revenue declined 3.7% YoY, reaching $12.09M last quarter. TTM EBITDA of $40.83M and TTM operating income of $25.34M show growth is flowing through to the bottom line. TTM net income of $24.37M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 3 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 82.7%
Op. Margin: 50.8%
Net Margin: 48.8%

Op. margin of 50.8% is down 7.7% YoY — costs are rising relative to revenue. Net margin at 48.8% Over the past year, operating margin is down 13% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 13.3x
P/S Ratio: 6.6x
P/B Ratio: 0.8x

At 13.3x P/E, the stock trades below typical market levels. P/S of 6.6x and P/B of 0.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 17% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $414.85M
Cash: $25.76M
Long-Term Debt: N/A
Book Value: $388.88M
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $10.45M
TTM Free Cash Flow: $41.68M
FCF Margin: 84.5%
FCF / Net Income: 1.7

TTM FCF of $41.68M on $10.45M in operating cash flow. The FCF / Net Income ratio of 1.7x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 2% — a weakening trend.