CNSX:IAN

Stock Analysis Report

Executive Summary

iAnthus Capital Holdings, Inc. owns and operates licensed cannabis cultivation, processing, and dispensary facilities in the United States.


Snowflake Analysis

High growth potential with imperfect balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-17.0%

IAN

13.3%

CA Pharmaceuticals

4.5%

CA Market


1 Year Return

-89.8%

IAN

-74.3%

CA Pharmaceuticals

-24.5%

CA Market

Return vs Industry: IAN underperformed the Canadian Pharmaceuticals industry which returned -74.3% over the past year.

Return vs Market: IAN underperformed the Canadian Market which returned -24.5% over the past year.


Shareholder returns

IANIndustryMarket
7 Day-17.0%13.3%4.5%
30 Day-31.0%-18.9%-20.1%
90 Day-58.9%-35.3%-24.9%
1 Year-89.8%-89.8%-74.3%-74.3%-22.0%-24.5%
3 Year-72.5%-72.5%-15.3%-15.9%-14.2%-22.2%
5 Yearn/a199.2%199.2%-1.9%-16.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.15x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: IAN (CA$0.78) is trading above our estimate of fair value (CA$0.65)

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


Price To Earnings Ratio

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

PE vs Market: IAN 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 IAN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: IAN is good value based on its PB Ratio (0.2x) compared to the CA Pharmaceuticals industry average (0.9x).


Next Steps

Future Growth

How is iAnthus Capital Holdings forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

78.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IAN is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.4%).

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

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

Revenue vs Market: IAN's revenue (38.3% per year) is forecast to grow faster than the Canadian market (3.8% per year).

High Growth Revenue: IAN's revenue (38.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IAN is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has iAnthus Capital Holdings performed over the past 5 years?

-62.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IAN is currently unprofitable.

Growing Profit Margin: IAN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IAN is unprofitable, and losses have increased over the past 5 years at a rate of -62.5% per year.

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

Earnings vs Industry: IAN is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (-9.9%).


Return on Equity

High ROE: IAN has a negative Return on Equity (-9.48%), as it is currently unprofitable.


Next Steps

Financial Health

How is iAnthus Capital Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: IAN's short term assets ($85.4M) exceed its short term liabilities ($41.6M).

Long Term Liabilities: IAN's short term assets ($85.4M) do not cover its long term liabilities ($170.4M).


Debt to Equity History and Analysis

Debt Level: IAN's debt to equity ratio (17.5%) is considered satisfactory.

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


Balance Sheet

Inventory Level: IAN has a low level of unsold assets or inventory.

Debt Coverage by Assets: IAN's debt is not covered by short term assets (assets are 0.8x 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: IAN has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: IAN has less than a year of cash runway if free cash flow continues to reduce at historical rates of -74.7% each year


Next Steps

Dividend

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


Dividend Yield vs Market

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

High Dividend: Unable to evaluate IAN'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 IAN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if IAN'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 IAN's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.2yrs

Average management tenure


CEO

Hadley Ford (59yo)

5.42s

Tenure

US$393,865

Compensation

Mr. Hadley C. Ford is a Co-Founder of iAnthus Capital Holdings, Inc. and has been its Chief Executive Officer since August 2014 and also serves as its Managing Director. Mr. Ford is a healthcare and techno ...


CEO Compensation Analysis

Compensation vs Market: Hadley's total compensation ($USD393.87K) is above average for companies of similar size in the Canadian market ($USD159.13K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Hadley Ford
Co-Founder5.42yrsUS$393.87k2.25% $3.0m
Randy Maslow
Co-Founder3.58yrsUS$397.12k1.59% $2.1m
Julius Kalcevich
CFO & Corporate Secretary3.42yrsUS$300.40kno data
Richard Boxer
Chief Medical Officerno dataUS$23.46kno data
John Henderson
Senior Vice President of Eastern Operationsno dataUS$297.12kno data
Pat Tiernan
Chief Operating Officer1yrno data0.0029% $3.9k
Megan Kulick
Vice President of Investor Relationsno datano datano data
Ethan Anderson
Senior Vice President of Marketingno datano datano data
Todd Karnig
Senior Vice President of Western Operations1.17yrsno datano data
Michael Woolston
Senior Vice President of Manufacturing0.67yrno datano data

1.2yrs

Average Tenure

Experienced Management: IAN's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Hadley Ford
Co-Founder5.42yrsUS$393.87k2.25% $3.0m
Randy Maslow
Co-Founder3.58yrsUS$397.12k1.59% $2.1m
Elizabeth Stavola
Chief Strategic Officer1yrno data2.47% $3.3m
Robert Whelan
Lead Director0.25yrno data0.029% $39.0k
Michael Muldowney
Independent Director0.25yrno data0.0035% $4.7k
Adam Cohen
Member of Advisory Boardno datano datano data
Christopher Hudalla
Member of Advisory Boardno datano datano data
Alexandra Ford
Member of Advisory Boardno datano datano data
Jaime Lewis
Member of Advisory Boardno datano datano data
Russell Shepard
Member of Advisory Board3.17yrsno datano data

1.0yrs

Average Tenure

59yo

Average Age

Experienced Board: IAN's board of directors are not considered experienced ( 1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 149.6%.


Top Shareholders

Company Information

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


Key Information

  • Name: iAnthus Capital Holdings, Inc.
  • Ticker: IAN
  • Exchange: CNSX
  • Founded:
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: CA$133.882m
  • Shares outstanding: 171.64m
  • Website: https://www.ianthus.com

Number of Employees


Location

  • iAnthus Capital Holdings, Inc.
  • 505 5th Avenue
  • Floor 23
  • New York
  • New York
  • 10017
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IANCNSX (Canadian National Stock Exchange)YesCommon SharesCACADSep 2016
ITHU.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDSep 2016
2IADB (Deutsche Boerse AG)YesCommon SharesDEEURSep 2016

Biography

iAnthus Capital Holdings, Inc. owns and operates licensed cannabis cultivation, processing, and dispensary facilities in the United States. As of March 12, 2020, it operated 31 dispensaries in 11 states. The company is based in New York, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 03:38
End of Day Share Price2020/03/30 00:00
Earnings2019/09/30
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.