Tilray Brands, Inc.

TSX:TLRY Stock Report

Market Cap: CA$1.7b

Tilray Brands Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 TLRY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TLRY (CA$1.88) is trading above our estimate of fair value (CA$1.05)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for TLRY. This is calculated by dividing TLRY's market cap by their current revenue.
What is TLRY's PS Ratio?
PS Ratio1.5x
SalesUS$812.04m
Market CapUS$1.21b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TLRY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.8x
TRUL Trulieve Cannabis
1x6.0%CA$1.6b
CURA Curaleaf Holdings
1.1x13.5%CA$2.0b
CRON Cronos Group
7.1x4.9%CA$1.1b
GTII Green Thumb Industries
1.9x10.4%CA$3.0b
TLRY Tilray Brands
1.5x7.9%CA$1.2b

Price-To-Sales vs Peers: TLRY is good value based on its Price-To-Sales Ratio (1.5x) compared to the peer average (2.8x).

Price to Sales Ratio vs Industry

How does TLRY'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
TLRY 1.5xIndustry Avg. 0.8xNo. of Companies25PS012345+
25 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: TLRY is expensive based on its Price-To-Sales Ratio (1.5x) compared to the Canadian Pharmaceuticals industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is TLRY'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.

TLRY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.5x
Fair PS Ratio1.2x

Price-To-Sales vs Fair Ratio: TLRY is expensive based on its Price-To-Sales Ratio (1.5x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).

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 TLRY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$1.88
CA$3.10
+64.9%
26.6%CA$5.64CA$2.47n/a13
Nov ’25CA$2.30
CA$3.04
+32.3%
26.2%CA$5.50CA$2.41n/a13
Oct ’25CA$2.29
CA$3.12
+36.3%
23.8%CA$5.40CA$2.56n/a14
Sep ’25CA$2.31
CA$3.29
+42.6%
24.7%CA$5.54CA$2.63n/a14
Aug ’25CA$2.77
CA$3.29
+18.9%
24.7%CA$5.54CA$2.63n/a14
Jul ’25CA$2.27
CA$3.25
+43.3%
22.8%CA$5.48CA$2.60n/a17
Jun ’25CA$2.45
CA$3.25
+32.6%
22.8%CA$5.47CA$2.60n/a17
May ’25CA$2.76
CA$3.25
+17.7%
22.8%CA$5.47CA$2.60n/a17
Apr ’25CA$3.30
CA$3.50
+5.9%
26.7%CA$5.76CA$2.71n/a16
Mar ’25CA$2.36
CA$3.50
+48.1%
26.7%CA$5.76CA$2.71n/a16
Feb ’25CA$2.64
CA$3.43
+30.0%
27.4%CA$5.71CA$2.55n/a17
Jan ’25CA$3.06
CA$3.55
+16.1%
24.6%CA$5.69CA$2.54n/a17
Dec ’24CA$2.57
CA$3.73
+45.1%
23.4%CA$5.79CA$2.59n/a17
Nov ’24CA$2.40
CA$3.76
+56.6%
24.1%CA$5.84CA$2.61CA$2.3016
Oct ’24CA$3.23
CA$3.97
+22.8%
33.2%CA$7.43CA$2.57CA$2.2916
Sep ’24CA$4.05
CA$3.79
-6.5%
35.8%CA$7.38CA$2.55CA$2.3116
Aug ’24CA$3.15
CA$3.77
+19.7%
41.2%CA$8.64CA$2.52CA$2.7716
Jul ’24CA$2.05
CA$4.37
+113.0%
37.5%CA$8.57CA$2.64CA$2.2716
Jun ’24CA$2.31
CA$4.77
+106.3%
32.4%CA$8.80CA$3.05CA$2.4515
May ’24CA$3.07
CA$4.77
+55.2%
32.4%CA$8.80CA$3.05CA$2.7615
Apr ’24CA$3.43
CA$5.91
+72.2%
41.7%CA$12.22CA$3.80CA$3.3016
Mar ’24CA$3.72
CA$5.91
+58.7%
41.7%CA$12.22CA$3.80CA$2.3616
Feb ’24CA$4.43
CA$6.03
+36.2%
43.1%CA$11.96CA$3.72CA$2.6415
Jan ’24CA$3.67
CA$6.45
+75.7%
52.2%CA$16.24CA$2.71CA$3.0618
Dec ’23CA$5.61
CA$6.45
+14.9%
52.2%CA$16.24CA$2.71CA$2.5718
Nov ’23CA$5.20
CA$6.63
+27.5%
54.0%CA$16.35CA$2.73CA$2.4018

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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