VIREO GROWTH (VREOF) Stock Fundamentals, Analysis & Risk Signals

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

VIREO GROWTH

OTC Markets OTCQX•Healthcare•Drug Manufacturers - Specialty & Generic

$11.99-0.13(-0.01%)After hours

Market Cap

$579.36M

P/S

1.1x

P/B

1.3x

Vireo Growth Inc. operates as a cannabis company that cultivates, manufactures, processes, and distributes medical and adult-use cannabis products in Maryland, Minnesota, Missouri, Nevada, New York, and Utah. It sells cannabis products through a network of retail dispensaries and distributors. The company was formerly known as Goodness Growth Holdings, Inc. and changed its name to Vireo Growth Inc. in July 2024. Vireo Growth Inc. was incorporated in 2004 and is headquartered in Minneapolis, Minnesota.

How this company scores

WeakMetricSide Score: 39/100

Grade capped at D — Interest coverage below 1× (0.2x) — earnings cannot cover interest. Strongest: Growth (19/25); weakest: Cash & Earnings Quality (6/25).

Profitability6/25

Growth19/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality6/25

Strengths

Growing revenueConsistent growthNo share dilution

Grade capped at D

Interest coverage below 1× (0.2x) — 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 · 1.1x5y range 1.1x – 141.8x

Currently below its 19-quarter median.

P/B · 1.3x5y range 1.3x – 277.4x

Currently below its 13-quarter median.

Watch items

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

High Risk

Margin Pressure

Red Flag

Operating margins dropped 70.8% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Red Flag

Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $579.36M

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $511.67M
Q. Revenue: $209.30M
TTM EBITDA: $26.69M
TTM Op. Income: $1.69M
Q. Op. Income: $-6.30M
TTM Net Income: $-67.07M
Q. Net Income: $-100,000
EPS: $0
Shares Out.: $45.09M

$511.67M in TTM revenue grew 316.7% YoY, reaching $209.30M last quarter. TTM EBITDA of $26.69M and TTM operating income of $1.69M show growth is flowing through to the bottom line. However, net income is negative at $67.07M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 45.5%
EBITDA Margin: -0.2%
Op. Margin: -3.0%
Net Margin: -0.0%

Op. margin of -3.0% is up 1.2% YoY — cost efficiency is improving. Net margin at -0.0% and gross margin of 45.5% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 28% — a weakening trend.

Price Ratios

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

P/E Ratio: N/A
P/S Ratio: 1.1x
P/B Ratio: 1.3x

P/S of 1.1x and P/B of 1.3x. P/S is low relative to typical market levels.

Assets & Liabilities

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

Total Assets: $1.27B
Cash: $122.70M
Long-Term Debt: $279.50M
Book Value: $442.50M
D/E Ratio: 0.6
Debt/EBITDA: N/A

With $1.27B in assets and $279.50M in long-term debt, D/E is 0.6and book value is $442.50M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 84% — an improving trend.

Cash Flow

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

Op. Cash Flow: $2.40M
TTM Free Cash Flow: $-116.36M
FCF Margin: -22.7%
FCF / Net Income: 1.7

TTM FCF of $-116.36M on $2.40M 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 293% — a weakening trend.