Curaleaf Holdings, Inc.

TSX:CURA Stock Report

Market Cap: CA$2.0b

Curaleaf Holdings Valuation

Is CURA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CURA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CURA (CA$2.73) is trading below our estimate of fair value (CA$41.29)

Significantly Below Fair Value: CURA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CURA?

Key metric: As CURA is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CURA. This is calculated by dividing CURA's market cap by their current revenue.
What is CURA's PS Ratio?
PS Ratio1.1x
SalesUS$1.36b
Market CapUS$1.46b

Price to Sales Ratio vs Peers

How does CURA's PS Ratio compare to its peers?

The above table shows the PS ratio for CURA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.6x
TRUL Trulieve Cannabis
1x6.0%CA$1.6b
GTII Green Thumb Industries
1.9x10.4%CA$3.0b
CRON Cronos Group
7.1x4.9%CA$1.1b
VRNO Verano Holdings
0.6x5.0%CA$722.2m
CURA Curaleaf Holdings
1.1x13.5%CA$2.0b

Price-To-Sales vs Peers: CURA is good value based on its Price-To-Sales Ratio (1.1x) compared to the peer average (2.6x).

Price to Sales Ratio vs Industry

How does CURA's PS Ratio compare vs other companies in the CA Pharmaceuticals Industry?

25 CompaniesPrice / SalesEstimated GrowthMarket Cap
AYR.A Ayr Wellness
0.2x2.6%US$78.97m
TIUM.U Cansortium
0.2xn/aUS$25.68m
ACRG.A.U Acreage Holdings
0.09xn/aUS$20.65m
MRV Nuvo Pharmaceuticals
0.2xn/aUS$11.21m
CURA 1.1xIndustry Avg. 0.8xNo. of Companies25PS012345+
25 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CURA is expensive based on its Price-To-Sales Ratio (1.1x) compared to the Canadian Pharmaceuticals industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is CURA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CURA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.1x
Fair PS Ratio1.8x

Price-To-Sales vs Fair Ratio: CURA is good value based on its Price-To-Sales Ratio (1.1x) compared to the estimated Fair Price-To-Sales Ratio (1.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CURA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$2.73
CA$7.81
+186.0%
48.0%CA$16.58CA$3.77n/a7
Nov ’25CA$4.10
CA$9.74
+137.5%
32.6%CA$16.96CA$7.05n/a7
Oct ’25CA$3.99
CA$9.60
+140.6%
30.1%CA$16.56CA$6.91n/a8
Sep ’25CA$3.91
CA$11.38
+191.2%
46.8%CA$23.84CA$7.00n/a9
Aug ’25CA$5.25
CA$11.76
+123.9%
44.7%CA$24.03CA$7.60n/a9
Jul ’25CA$5.25
CA$11.63
+121.5%
44.4%CA$23.69CA$7.50n/a9
Jun ’25CA$6.30
CA$11.64
+84.7%
44.4%CA$23.73CA$7.51n/a9
May ’25CA$7.76
CA$11.19
+44.2%
47.7%CA$23.70CA$6.64n/a9
Apr ’25CA$7.40
CA$10.58
+43.0%
39.1%CA$18.15CA$6.57n/a9
Mar ’25CA$6.62
CA$9.94
+50.2%
45.4%CA$18.08CA$4.92n/a9
Feb ’25CA$7.44
CA$9.63
+29.4%
47.2%CA$17.89CA$4.86n/a9
Jan ’25CA$5.51
CA$9.38
+70.3%
49.0%CA$17.86CA$4.86n/a9
Dec ’24CA$4.85
CA$9.54
+96.7%
49.5%CA$18.26CA$4.97n/a9
Nov ’24CA$3.81
CA$10.43
+173.6%
56.0%CA$23.55CA$5.17CA$4.109
Oct ’24CA$6.10
CA$10.29
+68.8%
55.2%CA$23.08CA$5.07CA$3.999
Sep ’24CA$5.21
CA$9.52
+82.7%
60.8%CA$22.96CA$3.03CA$3.9110
Aug ’24CA$4.84
CA$10.41
+115.0%
62.6%CA$26.57CA$3.54CA$5.2510
Jul ’24CA$4.09
CA$10.79
+163.9%
60.2%CA$26.30CA$4.87CA$5.259
Jun ’24CA$3.72
CA$10.21
+174.3%
64.3%CA$27.15CA$5.03CA$6.308
May ’24CA$3.52
CA$13.19
+274.8%
57.1%CA$34.47CA$8.11CA$7.7610
Apr ’24CA$3.79
CA$12.77
+236.8%
54.5%CA$34.47CA$7.99CA$7.4012
Mar ’24CA$5.09
CA$12.99
+155.2%
53.0%CA$34.60CA$8.12CA$6.6212
Feb ’24CA$5.30
CA$13.98
+163.8%
52.2%CA$33.73CA$8.50CA$7.4413
Jan ’24CA$5.83
CA$14.07
+141.4%
51.1%CA$33.62CA$8.41CA$5.5113
Dec ’23CA$9.41
CA$14.07
+49.5%
51.1%CA$33.62CA$8.41CA$4.8513
Nov ’23CA$7.05
CA$14.96
+112.2%
45.8%CA$31.73CA$9.40CA$3.8113

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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