CNSX:CURA

Stock Analysis Report

Executive Summary

Curaleaf Holdings, Inc. operates as an integrated medical and wellness cannabis operator in the United States.

Snowflake

Fundamentals

High growth potential with mediocre balance sheet.


Similar Companies

Share Price & News

How has Curaleaf Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CURA's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

15.7%

CURA

-11.6%

CA Pharmaceuticals

0.6%

CA Market


1 Year Return

2.7%

CURA

-48.0%

CA Pharmaceuticals

7.4%

CA Market

Return vs Industry: CURA exceeded the Canadian Pharmaceuticals industry which returned -48% over the past year.

Return vs Market: CURA underperformed the Canadian Market which returned 7.4% over the past year.


Shareholder returns

CURAIndustryMarket
7 Day15.7%-11.6%0.6%
30 Day-6.0%-15.6%3.3%
90 Day-14.8%-37.5%3.6%
1 Year2.7%2.7%-48.0%-48.0%11.0%7.4%
3 Yearn/a14.3%13.4%18.1%7.5%
5 Yearn/a181.0%181.0%27.1%8.5%

Price Volatility Vs. Market

How volatile is Curaleaf Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Curaleaf Holdings undervalued compared to its fair value and its price relative to the market?

6.11x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: CURA (CA$7.58) is trading above our estimate of fair value (CA$0.78)

Significantly Below Fair Value: CURA is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CURA is unprofitable, so we can't compare its PE Ratio to the Pharmaceuticals industry average.

PE vs Market: CURA is unprofitable, so we can't compare its PE Ratio to the Canadian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CURA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CURA is overvalued based on its PB Ratio (6.1x) compared to the CA Pharmaceuticals industry average (1.5x).


Next Steps

Future Growth

How is Curaleaf Holdings forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

67.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CURA is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: CURA is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CURA's is expected to become profitable in the next 3 years.

Revenue vs Market: CURA's revenue (88.6% per year) is forecast to grow faster than the Canadian market (4.8% per year).

High Growth Revenue: CURA's revenue (88.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CURA's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Curaleaf Holdings performed over the past 5 years?

-1297.7%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: CURA has a high level of non-cash earnings.

Growing Profit Margin: CURA's current net profit margins (-61.3%) are lower than last year (-16.9%).


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if CURA's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare CURA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CURA is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (-0.4%).


Return on Equity

High ROE: CURA has a negative Return on Equity (-20.26%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Curaleaf Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: CURA's short term assets ($179.7M) exceeds its short term liabilities ($49.1M)

Long Term Liabilities: CURA's short term assets ($179.7M) exceeds its long term liabilities (174.8M)


Debt to Equity History and Analysis

Debt Level: CURA's debt to equity ratio (22.1%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if CURA's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: CURA has a high level of physical assets or inventory.

Debt Coverage by Assets: CURA's debt is covered by short term assets (assets are 1.9x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CURA has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if CURA has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Curaleaf Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.0%markettop25%5.7%industryaverage2.7%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate CURA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CURA's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CURA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CURA's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CURA's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

What is the CEO of Curaleaf Holdings's salary, the management and board of directors tenure and is there insider trading?

0.8yrs

Average management tenure


CEO

Joseph Lusardi (45yo)

3.7yrs

Tenure

US$2,231,000

Compensation

Mr. Joseph Lusardi serves as Director of Curaleaf Holdings, Inc. since March 2016 and serves as its President. Mr. Lusardi has been Chief Executive Officer of Curaleaf Holdings, Inc. since March 2016. Mr.  ...


CEO Compensation Analysis

Compensation vs Market: Joseph's total compensation ($USD2.23M) is about average for companies of similar size in the Canadian market ($USD2.90M).

Compensation vs Earnings: Joseph's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

0.8yrs

Average Tenure

49yo

Average Age

Experienced Management: CURA's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Age and Tenure

1.1yrs

Average Tenure

58yo

Average Age

Experienced Board: CURA's board of directors are not considered experienced ( 1.1 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: CURA insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$821,26030 Sep 19
Boris Jordan
EntityIndividual
Role
Chairman of the Board
Executive Chairman
Shares100,000
Max PriceUS$8.21
BuyUS$18,477,27001 Aug 19
Boris Jordan
EntityIndividual
Role
Chairman of the Board
Executive Chairman
Shares1,900,843
Max PriceUS$9.72
SellUS$18,477,27001 Aug 19
Bellmawr Investors, LLC
EntityCompany
Shares1,900,843
Max PriceUS$9.72
BuyUS$6,27412 Dec 18
Peter Derby
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$6.28

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Boris Jordan (53yo)

    Executive Chairman

    • Tenure: 0yrs
    • Compensation: US$1.50m
  • Dan Foley

    Vice President of Finance & Investor Relations

    • Tenure: 0yrs
  • Todd Goffman (49yo)

    General Counsel & Secretary

    • Tenure: 0.8yrs
  • Neil Davidson (47yo)

    CFO & Treasurer

    • Tenure: 0.8yrs
  • Stuart Wilcox (58yo)

    Chief Operating Officer

    • Tenure: 2.3yrs
    • Compensation: US$520.00k
  • Joseph Lusardi (45yo)

    President

    • Tenure: 3.7yrs
    • Compensation: US$2.23m
  • Carolyn Fedigan (55yo)

    Senior Vice President of Human Resources

    • Tenure: 0yrs
  • Katrina Yolen (52yo)

    Senior Vice President of Marketing

    • Tenure: 0yrs
  • Ed Kelenchuk (38yo)

    Senior Vice President of Business Development

    • Tenure: 0yrs
  • Troy Morgan (49yo)

    Senior Vice President of Compliance

    • Tenure: 0.4yrs

Board Members

  • Boris Jordan (53yo)

    Executive Chairman

    • Tenure: 0yrs
    • Compensation: US$1.50m
  • Peter Derby (58yo)

    Independent Director

    • Tenure: 1.1yrs
    • Compensation: US$12.50k
  • Karl Johansson (68yo)

    Independent Director

    • Tenure: 1.1yrs
    • Compensation: US$12.50k
  • Steven Patierno (60yo)

    Chairman of the Medical Advisory Board & Independent Director

    • Tenure: 0yrs
    • Compensation: US$81.95k
  • David Casarett

    Member of the Medical Advisory Board

    • Tenure: 0yrs
  • Joseph Lusardi (45yo)

    President

    • Tenure: 3.7yrs
    • Compensation: US$2.23m
  • Robert Schnoll

    Member of the Medical Advisory Board

    • Tenure: 0yrs
  • Brian Thomas

    Member of the Medical Advisory Board

    • Tenure: 0yrs

Company Information

Curaleaf Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Curaleaf Holdings, Inc.
  • Ticker: CURA
  • Exchange: CNSX
  • Founded: 2010
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: CA$3.550b
  • Shares outstanding: 468.31m
  • Website: https://www.curaleaf.com

Number of Employees


Location

  • Curaleaf Holdings, Inc.
  • 301 Edgewater Place
  • Suite 405
  • Wakefield
  • Massachusetts
  • 1880
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CURACNSX (Canadian National Stock Exchange)YesSubordinated Voting SharesCACADOct 2018
CURL.FOTCPK (Pink Sheets LLC)YesSubordinated Voting SharesUSUSDOct 2018

Biography

Curaleaf Holdings, Inc. operates as an integrated medical and wellness cannabis operator in the United States. It cultivates, processes, markets, and/or dispenses a range of cannabis products, such as vape ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/18 01:01
End of Day Share Price2019/11/15 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.