TerrAscend Corp.

TSX:TSND Stock Report

Market Cap: CA$409.1m

TerrAscend Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: Insufficient data to calculate TSND's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate TSND's fair value for valuation analysis.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for TSND. This is calculated by dividing TSND's market cap by their current revenue.
What is TSND's PS Ratio?
PS Ratio0.7x
SalesUS$318.89m
Market CapUS$292.64m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TSND vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.3x
GUD Knight Therapeutics
1.5x5.9%CA$519.1m
ACB Aurora Cannabis
1.1x11.8%CA$319.7m
CPH Cipher Pharmaceuticals
10.2x18.8%CA$374.9m
HITI High Tide
0.6x11.9%CA$300.9m
TSND TerrAscend
0.7x9.9%CA$409.1m

Price-To-Sales vs Peers: TSND is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (3.3x).

Price to Sales Ratio vs Industry

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

23 CompaniesPrice / SalesEstimated GrowthMarket Cap
AYR.A Ayr Wellness
0.2x2.6%US$82.27m
ACRG.A.U Acreage Holdings
0.08xn/aUS$26.82m
MRV Nuvo Pharmaceuticals
0.2xn/aUS$11.21m
IMCC IM Cannabis
0.2x24.8%US$7.96m
TSND 0.7xIndustry Avg. 0.7xNo. of Companies23PS012345+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: TSND is good value based on its Price-To-Sales Ratio (0.7x) compared to the Canadian Pharmaceuticals industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is TSND'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.

TSND PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.7x
Fair PS Ratio1.1x

Price-To-Sales vs Fair Ratio: TSND is good value based on its Price-To-Sales Ratio (0.7x) compared to the estimated Fair Price-To-Sales Ratio (1.1x).

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 TSND forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$1.09
CA$3.27
+200.2%
22.9%CA$4.36CA$2.25n/a5
Nov ’25CA$1.49
CA$3.61
+142.1%
14.3%CA$4.38CA$2.79n/a5
Oct ’25CA$1.69
CA$3.51
+107.5%
14.2%CA$4.25CA$2.70n/a5
Sep ’25CA$1.63
CA$4.14
+154.1%
33.4%CA$7.07CA$2.75n/a6
Aug ’25CA$1.93
CA$4.45
+130.5%
31.1%CA$7.11CA$2.79n/a6
Jul ’25CA$1.86
CA$4.73
+154.2%
26.6%CA$7.03CA$3.75n/a5
Jun ’25CA$2.08
CA$4.39
+110.9%
31.0%CA$7.01CA$2.74n/a6
May ’25CA$2.46
CA$4.18
+69.8%
28.6%CA$6.68CA$2.80n/a6
Apr ’25CA$2.70
CA$3.90
+44.6%
27.0%CA$6.02CA$2.75n/a6
Mar ’25CA$2.41
CA$3.88
+61.0%
32.1%CA$5.89CA$2.64n/a4
Feb ’25CA$2.89
CA$3.88
+34.2%
32.1%CA$5.89CA$2.64n/a4
Jan ’25CA$2.20
CA$3.88
+76.3%
32.1%CA$5.89CA$2.64n/a4
Dec ’24CA$2.18
CA$3.75
+72.1%
33.6%CA$6.09CA$2.72n/a5
Nov ’24CA$2.15
CA$3.38
+57.4%
34.2%CA$5.56CA$2.37CA$1.495
Oct ’24CA$2.79
CA$3.34
+19.8%
33.7%CA$5.44CA$2.33CA$1.695
Sep ’24CA$2.75
CA$3.19
+15.9%
33.5%CA$5.41CA$2.31CA$1.636
Aug ’24CA$1.93
CA$3.15
+63.3%
32.2%CA$5.25CA$2.26CA$1.936
Jul ’24CA$2.38
CA$3.47
+45.9%
33.9%CA$5.23CA$2.25CA$1.865
Jun ’24CA$2.08
CA$3.06
+46.9%
28.7%CA$4.54CA$2.31CA$2.084
May ’24CA$2.23
CA$3.84
+72.1%
48.3%CA$7.19CA$2.17CA$2.465
Apr ’24CA$2.06
CA$3.72
+80.8%
47.1%CA$7.29CA$2.20CA$2.706
Mar ’24CA$2.17
CA$4.07
+87.8%
37.4%CA$7.19CA$2.78CA$2.416
Feb ’24CA$1.90
CA$4.26
+124.2%
35.9%CA$7.09CA$2.74CA$2.896
Jan ’24CA$1.55
CA$4.35
+180.6%
35.8%CA$7.23CA$2.80CA$2.206
Dec ’23CA$2.79
CA$4.28
+53.3%
38.2%CA$7.17CA$2.51CA$2.186
Nov ’23CA$2.17
CA$5.04
+132.9%
42.9%CA$9.34CA$2.76CA$2.156

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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