Tilray Brands (TLRY) Stock Fundamentals, Analysis & Risk Signals

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

Tilray Brands

NasdaqGS•Healthcare•Drug Manufacturers - Specialty & Generic

$4.50-0.03(-0.01%)Market closed

Market Cap

$439.50M

P/S

0.5x

P/B

0.3x

Tilray Brands, Inc., a lifestyle consumer products company, engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, the Middle East, Africa, and internationally. The company operates through four segments: Beverage, Cannabis, Distribution, and Wellness. It also offers medical and adult-use cannabis products; resells and distributes pharmaceutical and wellness products; and produces, markets, and sells beverage products, and hemp-based food products. In addition, the company provides entertainment products. It offers its products under the Tilray, Aphria, Broken Coast, Symbios, Navcora, Tilray Craft, Charlotte's Web, Shock Top, Montauk Brewing, 10 Barrell, Breckenridge Brewery, SweetWater Brewing, Breckenridge Distillery, Blue Point, Alpine, Broken Coast, Redecan, XMG, Manitoba Harvest, CC Pharma, Good Supply, Solei, Mollo, Chowie Wowie, Original Stash, Canaca, RIFF, Tilray Medical, Bake Sale, The Batch, HEXO, Cruisies, Atwater Brewery, Hi-ball Energy, Liquid Love, Hop Valley Brewing, Redhook Brewery, Revolver Brewing, Square Mile Cider, Mock One, Widmer Brothers Brewing, Runner's High Brewing Company, SweetWater Brewing Company, Terrapin brands. The company sells its products to retailers, wholesalers, patients, physicians, hospitals, pharmacies, researchers, and governments, as well as direct to consumers. The company was formerly known as Tilray, Inc. and changed its name to Tilray Brands, Inc. in January 2022. Tilray Brands, Inc. is headquartered in Leamington, Canada.

How this company scores

WeakMetricSide Score: 63/100

Grade capped at D — Interest coverage below 1× (-0.5x) — earnings cannot cover interest. Strongest: Growth (21/25); weakest: Cash & Earnings Quality (8/25).

Profitability17/25

Growth21/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality8/25

Strengths

Long cash runwayLow leverageProfit converts from growthImproving leverage

Grade capped at D

Interest coverage below 1× (-0.5x) — earnings cannot cover interest.

Valuation vs. 5-year range

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

P/S · 0.5x5y range 0.5x – 75.1x

Currently below its 20-quarter median.

P/B · 0.3x5y range 0.3x – 13.7x

Currently below its 20-quarter median.

Watch items

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

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $439.50M

Metrics at a Glance

as of May 2026

Revenue & Profit

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

TTM Revenue: $915.45M
Q. Revenue: $281.71M
TTM EBITDA: $4.57M
TTM Op. Income: $-63.03M
Q. Op. Income: $-16.45M
TTM Net Income: $-121.40M
Q. Net Income: $-49.57M
EPS: $-1.09
Shares Out.: $111.83M

$915.45M in TTM revenue grew 11.5% YoY, reaching $281.71M last quarter. TTM EBITDA of $4.57M and TTM operating income of $-63.03M show growth is flowing through to the bottom line. However, net income is negative at $121.40M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 32.1%
EBITDA Margin: 1.0%
Op. Margin: -5.8%
Net Margin: -17.6%

Op. margin of -5.8% is up 637.3% YoY — cost efficiency is improving. Net margin at -17.6% and gross margin of 32.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 99% — an improving trend.

Price Ratios

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

P/E Ratio: N/A
P/S Ratio: 0.5x
P/B Ratio: 0.3x

P/S of 0.5x and P/B of 0.3x. P/S is low relative to typical market levels.

Assets & Liabilities

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

Total Assets: $2.33B
Cash: $225.98M
Long-Term Debt: $79.53M
Book Value: $1.59B
D/E Ratio: 0.0
Debt/EBITDA: 27.5

With $2.33B in assets and $79.53M in long-term debt, D/E is 0.0and book value is $1.59B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 14% — an improving trend.

Cash Flow

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

Op. Cash Flow: $-37.32M
TTM Free Cash Flow: $-102.13M
FCF Margin: -11.2%
FCF / Net Income: 0.8

TTM FCF of $-102.13M on $-37.32M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.