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Curaleaf Holdings
(OTC:CURA)
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Rating:56Neutral
Price Target:
C$15.00
▲(398.34% Upside)
Action:Reiterated
Date:06/05/26
The score reflects improving financial momentum (revenue rebound and positive operating/free cash flow) and a constructive earnings update with better profitability and refinancing progress. These positives are tempered by ongoing structural profitability/leverage constraints, only mixed technicals with high volatility, and limited valuation support due to negative P/E and no dividend yield data.
Positive Factors
Vertical integration & multi-channel model
Curaleaf’s control of cultivation, processing, manufacturing and retail/wholesale channels creates durable margin capture opportunities across the value chain. Vertical integration supports scale, product consistency, branded SKUs and resilient revenue mix as regulated markets mature.
Negative Factors
Meaningful leverage
Material debt relative to equity limits strategic optionality and increases cash interest exposure. High leverage constrains investment choices, raises refinancing dependency, and amplifies downside risk if revenue or margins deteriorate, slowing durable value creation.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical integration & multi-channel model
Curaleaf’s control of cultivation, processing, manufacturing and retail/wholesale channels creates durable margin capture opportunities across the value chain. Vertical integration supports scale, product consistency, branded SKUs and resilient revenue mix as regulated markets mature.
Read all positive factors
Curaleaf Holdings (CURA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.74B
Dividend YieldN/A
Average Volume (3M)218.08K
Price to Earnings (P/E)―
Beta (1Y)1.91
Revenue Growth-2.25%
EPS Growth55.22%
CountryCA
Employees5,519
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.44
Shares Outstanding232,773,860
10 Day Avg. Volume185,003
30 Day Avg. Volume218,084
Financial Highlights & Ratios
PEG Ratio-1.16
Price to Book (P/B)2.51
Price to Sales (P/S)1.47
P/FCF Ratio24.97
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$18.86Price Target Upside526.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.77
Revenue Forecast (FY)C$1.34B
Curaleaf Holdings Business Overview & Revenue Model
Company Description
Curaleaf Holdings, Inc. operates as a prominent cannabis company primarily within the United States, managing its business through both domestic and international operating segments. The company's core activities involve the cultivation, productio...
How the Company Makes Money
Curaleaf primarily makes money by selling cannabis and cannabis-derived products through a combination of retail and wholesale channels supported by its vertical integration. (1) Retail sales: Revenue is generated from direct-to-consumer sales at ...
Curaleaf Holdings Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presented several meaningful financial and strategic positives: revenue growth, a move to net income, strong international expansion (+35% YoY), improved adjusted EBITDA and gross margin levels, successful refinancing and balance sheet progress, and a major regulatory catalyst with medical rescheduling that could materially improve tax treatment, banking access, and international opportunities. These positives are tempered by margin compression (notably in international markets), a modest YoY decline in adjusted EBITDA, SG&A increases, inventory-driven low free cash flow in the quarter, and ongoing supply-chain and market-specific headwinds in select U.S. states. On balance, the company highlighted clear operational improvements, product initiatives driving transaction growth, and significant regulatory upside that management expects to unlock, outweighing the current operational and margin challenges.Positive Updates
Revenue Growth
Total Q1 2026 revenue of $324 million, up 6% year-over-year and above guidance; company expects Q2 revenue to rise 2%–3% sequentially (~$333M at midpoint).
Negative Updates
Sequential Revenue Decline
Revenue declined 3% sequentially versus Q4 2025, attributed to normal seasonality.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Total Q1 2026 revenue of $324 million, up 6% year-over-year and above guidance; company expects Q2 revenue to rise 2%–3% sequentially (~$333M at midpoint).
Read all positive updates
Company Guidance
Curaleaf guided Q2 revenue to rise 2–3% sequentially from Q1’s $324M (midpoint ≈ $333M), reiterated 2026 CapEx of roughly $80M, and said operating cash should build through the year after Q1 operating cash flow of $21M and free cash flow of $4M; Q1 head‑line metrics were $324M revenue (+6% YoY, -3% QoQ), $157M gross profit (49% gross margin, -220 bps YoY), $63M adjusted EBITDA (20% margin, -4% YoY and -200 bps YoY, including a 170‑bp international drag), net income from continuing operations $70M or $0.09/share (vs. a $50M loss a year ago), cash $106M, inventory up $16M (7% q/q), outstanding debt $565M (acquisition‑related debt reduced by $9M) and a refinanced $475M note with an oversubscribed $500M three‑year facility; management also expects international growth ~25–30% in 2026 (Q1 international +35% YoY), domestic wholesale +19% YoY (retail -2% YoY), additional 280E tax benefits to be recognized in future periods, and broader balance‑sheet/financial services improvements as regulatory clarity progresses.Curaleaf Holdings Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
50
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.29B | 1.29B | 1.34B | 1.35B | 1.34B | 1.21B |
| Gross Profit | 562.24M | 498.20M | 639.25M | 614.45M | 579.03M | 687.59M |
| EBITDA | 189.94M | 169.76M | 233.14M | 238.76M | 220.97M | 278.98M |
| Net Income | -114.13M | -235.12M | -215.42M | -281.20M | -376.93M | -109.13M |
Balance Sheet | ||||||
| Total Assets | 2.81B | 2.84B | 2.95B | 3.10B | 3.41B | 3.11B |
| Cash, Cash Equivalents and Short-Term Investments | 106.20M | 101.39M | 93.03M | 91.82M | 163.18M | 299.33M |
| Total Debt | 1.04B | 1.04B | 853.82M | 883.55M | 931.91M | 652.40M |
| Total Liabilities | 1.90B | 2.00B | 1.96B | 1.93B | 2.01B | 1.44B |
| Stockholders Equity | 821.69M | 754.97M | 861.21M | 1.05B | 1.28B | 1.55B |
Cash Flow | ||||||
| Free Cash Flow | 54.52M | 75.80M | 64.42M | 5.05M | -91.96M | -205.92M |
| Operating Cash Flow | 118.85M | 140.35M | 162.57M | 75.26M | 46.40M | -33.96M |
| Investing Cash Flow | -69.52M | -71.80M | -93.83M | -78.69M | -228.62M | -163.97M |
| Financing Cash Flow | -66.95M | -74.78M | -54.24M | -67.02M | 50.54M | 424.80M |
Curaleaf Holdings Technical Analysis
Positive
3.01
Price Trends
14.23
Negative
11.92
Positive
11.58
Positive
Market Momentum
-0.14
Positive
51.19
Neutral
49.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CURA, the sentiment is Positive. The current price of 3.01 is below the 20-day moving average (MA) of 14.31, below the 50-day MA of 14.23, and below the 200-day MA of 11.58, indicating a neutral trend. The MACD of -0.14 indicates Positive momentum. The RSI at 51.19 is Neutral, neither overbought nor oversold. The STOCH value of 49.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CURA.
Curaleaf Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | C$2.35B | 14.54 | 6.59% | ― | 4.14% | 146.77% | |
56 Neutral | C$3.74B | -24.89 | -12.61% | ― | -2.25% | 55.22% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | C$2.17B | -1.55 | -33.23% | ― | -6.05% | 25.64% | |
47 Neutral | C$586.91M | -1.65 | -35.48% | ― | 5.80% | 85.58% | |
46 Neutral | C$531.19M | -2.08 | -35.26% | ― | -9.65% | -55.41% |
* Healthcare Sector Average
TSE:CURA
Curaleaf Holdings
14.46
11.01
319.25%
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Curaleaf Holdings Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Curaleaf Extends Executive Automatic Share Disposition Plan for Chief Legal Officer
Neutral
Apr 2, 2026
Curaleaf Holdings announced that Chief Legal Officer Peter Clateman has extended an existing automatic securities disposition plan, enabling the orderly exercise of vested stock options expiring in July 2027. The plan provides for the sale of a po...
Business Operations and StrategyFinancial Disclosures
Curaleaf Sets May 5 Date to Release Q1 2026 Results and Host Investor Call
Neutral
Apr 1, 2026
Curaleaf Holdings, Inc., a major international cannabis consumer products company with operations across medical and adult-use markets and a vertically integrated presence in Europe, Canada, and Australasia, continues to expand its portfolio throu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.