Tilray (TLRY) AI Stock Analysis

• Market Cap: $729.59M
• Dividend Yield: N/A
• Average Volume (3M): 37.69M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.54
• Revenue Growth: 11.22%
• EPS Growth: -108.58%
• Country: US
• Employees: 2,650
• Sector: Healthcare
• Sector Strength: 37
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.02
• Shares Outstanding: 1,038,122,300
• 10 Day Avg. Volume: 43,399,004
• 30 Day Avg. Volume: 37,694,695
• PEG Ratio: <0.01
• Price to Book (P/B): 0.20
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.57
• Enterprise Value/Market Cap: 1.04
• Enterprise Value/Revenue: 0.23
• Enterprise Value/Gross Profit: 3.22
• Enterprise Value/Ebitda: -0.83
• 1Y Price Target: $0.78
• Price Target Upside: 13.04% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 49 Neutral
• Price Target: $0.50 ▼(-27.54%Downside)

Tilray's overall stock score is influenced primarily by financial performance challenges and valuation concerns. While the earnings call provided some positive highlights with improvements in gross margins and international growth, significant net losses and operational inefficiencies weigh heavily on the score. Technical analysis offers a neutral view, and the lack of dividend yield limits valuation appeal.

Positive Factors

Financial Performance

Adj. EBITDA of $9M came in higher vs. analyst's $6.5M estimate, in part from better-than-expected Canadian cannabis gross margins of 40.5%.

Growth Outlook

Management expects stronger performance in the fourth fiscal quarter due to seasonal growth in acquired brands.

Negative Factors

Earnings

Tilray reported 3Q sales of $186M, below analyst's $206M estimate and FS $210M.

Market Environment

A lower multiple is warranted due to the challenging craft beer category backdrop, competitive pressure in Canadian cannabis, and lack of clarity regarding the path to federal legalization of cannabis in the U.S.

Sales Outlook

Management lowered their FY25 sales outlook by $50M to $850M-$900M owing to SKU rationalization efforts.

Tilray Business Overview & Revenue Model

Company Description

Tilray Brands, Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. The company operates through four segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, and Wellness Business. It offers medical and adult-use cannabis products, including GMP-certified flowers, oils, vapes, edibles, and topicals; purchases and resells pharmaceutical and wellness products; and produces, markets, sells, and distributes beverage alcohol products, and hemp-based food and other wellness products. The company offers its products under the Tilray, Aphria, Broken Coast, Symbios, B!NGO, The Batch, P'tite Pof, Dubon, Good Supply, Solei, Chowie Wowie, Canaca, RIFF, SweetWater, Breckenridge Distillery, Alpine Beer Company, and Green Flash brands. It sells its products to retailers, wholesalers, patients, physicians, hospitals, pharmacies, researchers, and governments, as well as direct to consumers. The company was formerly known as Tilray, Inc. Tilray Brands, Inc. is headquartered in Leamington, Canada.

How the Company Makes Money

Tilray makes money primarily through the sale of cannabis and cannabis-derived products across various markets. Its key revenue streams include the medical cannabis sector, where it supplies products to patients and healthcare providers, and the adult-use or recreational cannabis sector, which caters to consumers seeking cannabis for personal enjoyment. Additionally, Tilray generates revenue through its hemp products, including hemp food and wellness products. The company also benefits from strategic partnerships and acquisitions that expand its market reach and product offerings, contributing significantly to its earnings. Tilray's global distribution network and its investments in research and innovation further bolster its revenue-generating capabilities.

Tilray Financial Statement Overview

Summary

Tilray's financial performance is challenged by persistent losses despite modest revenue growth. The negative net profit margin and EBIT/EBITDA margins reflect profitability issues, and cash flows are negative, indicating operational inefficiencies. A low debt-to-equity ratio shows low leverage, yet declining equity and negative returns highlight ongoing difficulties.

Income Statement

Tilray's income statement shows significant challenges, with a negative net profit margin at -114.9% TTM, indicating high losses relative to revenue. Despite a slight revenue growth of 4.79% from the previous year, the company struggles with profitability as evidenced by negative EBIT and EBITDA margins. The gross profit margin is at 28.57% TTM, indicating some efficiency in production but insufficient to cover operating costs.

Balance Sheet

The balance sheet reveals a debt-to-equity ratio of 0.08, suggesting relatively low leverage, which is a positive sign. However, this is offset by a concerning drop in stockholders' equity over time. The equity ratio is 80.22% TTM, highlighting a strong equity position relative to assets. Nevertheless, the negative return on equity of -34.78% TTM reflects ongoing profitability issues.

Cash Flow

Cash flow analysis shows negative free cash flow growth, indicating cash outflows continue to exceed inflows. The operating cash flow to net income ratio is -0.05 TTM, suggesting operational inefficiencies. The company also exhibits a negative free cash flow to net income ratio, pointing to difficulties in generating cash relative to reported losses.

Breakdown	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	788.94M	627.12M	628.37M	513.09M	391.00M
Gross Profit	223.35M	146.96M	116.82M	123.18M	137.68M
EBITDA	-72.84M	-889.52M	-246.40M	-218.36M	-18.40M
Net Income	-244.98M	-1.44B	-434.13M	-336.01M	―
Balance Sheet
Total Assets	4.22B	4.31B	5.45B	6.03B	1.80B
Cash, Cash Equivalents and Short-Term Investments	260.52M	448.53M	415.91M	488.47M	358.47M
Total Debt	387.32M	590.13M	623.81M	938.66M	300.32M
Total Liabilities	778.49M	977.32M	1.01B	1.56B	475.89M
Stockholders Equity	3.44B	3.32B	4.40B	4.46B	1.31B
Cash Flow
Free Cash Flow	-60.15M	-12.89M	-211.33M	-83.59M	―
Operating Cash Flow	-30.91M	7.91M	-177.26M	-44.72M	―
Investing Cash Flow	128.35M	-285.11M	-21.53M	46.10M	―
Financing Cash Flow	-75.19M	70.16M	128.20M	124.31M	125.40M

Tilray Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.69
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TLRY, the sentiment is Positive. The current price of 0.69 is above the 20-day moving average (MA) of 0.60, above the 50-day MA of 0.49, and below the 200-day MA of 0.91, indicating a neutral trend. The MACD of 0.07 indicates Negative momentum. The RSI at 60.97 is Neutral, neither overbought nor oversold. The STOCH value of 51.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TLRY.

Tilray Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SNDL	53 Neutral	$396.27M	―	-9.20%	―	-3.02%	26.00%
Sector *	52 Neutral	$7.61B	0.11	-63.03%	2.07%	16.35%	0.29%
TLRY	49 Neutral	$729.59M	―	-31.06%	―	11.22%	-108.58%
CPHI	43 Neutral	$6.08M	―	-59.14%	―	-33.10%	71.37%
FLGC	43 Neutral	$14.29M	―	-336.65%	―	-28.78%	86.97%
YCBD	42 Neutral	$8.28M	―	-8.46%	―	-9.22%	89.90%
AKAN	―	$2.87M	―	-1460.27%	―	―	―

Tilray Corporate Events

Tilray Completes Debt-for-Equity Exchange Transaction

Tilray Brands, Inc. has completed a private debt-for-equity exchange transaction with an unrelated party. The company issued over 12.5 million shares of its common stock in exchange for $5 million in principal amount of its Convertible Senior Notes due in 2027, leveraging an exemption under the Securities Act for this transaction.

The most recent analyst rating on (TLRY) stock is a Hold with a $1.40 price target. To see the full list of analyst forecasts on Tilray stock, see the TLRY Stock Forecast page.

Tilray Approves Reverse Stock Split Proposal

On June 10, 2025, Tilray Brands, Inc. held a special meeting of stockholders to vote on two proposals: an amendment for a reverse stock split and the adjournment of the meeting for further proxy solicitation if needed. Both proposals were approved, with the board retaining discretion on executing the reverse stock split, indicating a strategic move to potentially enhance the company’s stock market positioning.

The most recent analyst rating on (TLRY) stock is a Hold with a $1.40 price target. To see the full list of analyst forecasts on Tilray stock, see the TLRY Stock Forecast page.