Grown Rogue International Inc. (TSE:GRIN)
:GRIN
Want to see TSE:GRIN full AI Analyst Report?
Top Page
Grown Rogue International
(GRIN)
Select Model
Select Model
Rating:53Neutral
Price Target:
C$0.55
▼(-7.12% Downside)
Action:Reiterated
Date:05/15/26
The score is held back primarily by leveraged and volatile financials with pressured operating profitability and negative free cash flow, despite solid revenue growth. Earnings-call commentary is a relative positive due to improved guidance tone and credible low-cost efficiency initiatives, while technicals are neutral and valuation is weakened by a negative P/E and no dividend.
Positive Factors
Yield & Efficiency Gains
Material, repeatable yield improvements (20%–30%+ and ~82 g/sq ft recent average) from low‑cost tech raise production per sq ft and lower unit costs. Scalable rollout with modest capex improves long‑term gross output and provides a structural cost advantage across facilities.
Negative Factors
Rising Leverage
Material increase in leverage (D/E ~1.28 TTM) reduces financial flexibility and raises refinancing and interest risks. If earnings or cash flow weaken, higher debt amplifies downside, may constrain capital allocation, and forces prioritization of debt service over growth investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Yield & Efficiency Gains
Material, repeatable yield improvements (20%–30%+ and ~82 g/sq ft recent average) from low‑cost tech raise production per sq ft and lower unit costs. Scalable rollout with modest capex improves long‑term gross output and provides a structural cost advantage across facilities.
Read all positive factors
Grown Rogue International (GRIN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$134.97M
Dividend YieldN/A
Average Volume (3M)71.83K
Price to Earnings (P/E)―
Beta (1Y)1.01
Revenue Growth24.36%
EPS Growth65.65%
CountryCA
Employees204
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)<0.01
Shares Outstanding249,938,980
10 Day Avg. Volume38,149
30 Day Avg. Volume71,828
Financial Highlights & Ratios
PEG Ratio-0.11
Price to Book (P/B)3.50
Price to Sales (P/S)4.85
P/FCF Ratio132.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Grown Rogue International Business Overview & Revenue Model
Company Description
Grown Rogue International Inc., through its subsidiaries, engages in growing and selling cannabis products in the United States. It offers flower products, such as indicas, sativas, and hybrids; and edibles, vape cartridges, pre-rolls, or concentr...
How the Company Makes Money
null...
Grown Rogue International Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Sep 01, 2026
Earnings Call Sentiment Positive
The call emphasized operational execution and measurable productivity gains (notably 20%–30% yield improvements, 82 g/sq ft recent average, modest revenue guidance raise, New Jersey harvests, Illinois activation, Minnesota construction, and successful vape/brand launches). The principal negatives were margin pressure from Michigan's new 24% excise tax, ongoing pricing pressure in mature markets, regulatory timing risks (Illinois, federal uncertainty), and some operational staffing/badging constraints in New Jersey. Overall, the positives around yield improvements, low-cost high-ROI investments, multiple state expansion milestones, brand momentum, and completed GAAP conversion outweigh the noted challenges.Positive Updates
Projects On Track — New Jersey Phase 2
Harvest of first Phase 2 flower room (Flower Room 5) expected later this month; remaining flower rooms at the New Jersey facility targeted to be fully completed by end of 2026; small power upgrade in progress to support three remaining rooms.
Negative Updates
Michigan 24% Excise Tax Impacts Profitability
New 24% adult-use excise tax in Michigan reduces comparative margins; company invoices the excise tax to customers but negotiation frequently forces reductions in underlying cannabis prices (negative impact on ASP and profitability going forward).
Read all updates
Q1-2026 Updates
Positive
Negative
Projects On Track — New Jersey Phase 2
Harvest of first Phase 2 flower room (Flower Room 5) expected later this month; remaining flower rooms at the New Jersey facility targeted to be fully completed by end of 2026; small power upgrade in progress to support three remaining rooms.
Read all positive updates
Company Guidance
Management said it modestly raised full‑year revenue guidance (driven by a better‑than‑expected Michigan rebound) and reiterated adjusted EBITDA guidance, adding they “strongly believe” they’ll be at the higher end of the adjusted‑EBITDA range while formally leaving guidance unchanged; they noted the new 24% Michigan adult‑use excise tax is invoiced to customers but has lowered margins and will weigh on comparative profitability. Operationally, they expect to harvest New Jersey flower room 5 later this month, complete the remaining NJ flower rooms and finish the facility in 2026 (a small power upgrade will support the 3 remaining rooms), expect Illinois occupancy approvals this quarter, and are targeting occupancy and plants in Minnesota in late Q3. On productivity, they reported tech‑driven yield gains (averaging 82 grams per square foot in recent quarters in Michigan, a 20%–30%+ uplift versus historical yields), plan to outfit Michigan fully with the tech this year and half of Oregon, and forecast New Jersey moving toward ~65–70 g/sqft total production with A‑flower in the ~45–50 g/sqft range; NJ also had a 97% package‑sales rate this quarter. Capital intensity for the yield tech is low (CapEx in the low $100Ks per facility, < $150,000 to outfit half of Oregon) with payback in a couple of harvest cycles, and the company noted a small initial vape launch of roughly 20,000 cartridges in Oregon with plans to increase production and target a six‑figure vape business there.Grown Rogue International Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
46
Neutral
Cash Flow
52
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Oct 2023 | Jan 2023 | Oct 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 22.15M | 27.02M | 21.83M | 17.76M | 9.38M |
| Gross Profit | 11.03M | 13.44M | 14.22M | 8.12M | 6.10M |
| EBITDA | 10.21M | -3.66M | 3.44M | 3.41M | 2.55M |
| Net Income | 6.35M | -11.30M | -533.04K | 447.46K | -1.01M |
Balance Sheet | |||||
| Total Assets | 55.90M | 43.32M | 30.16M | 16.37M | 14.21M |
| Cash, Cash Equivalents and Short-Term Investments | 13.09M | 4.68M | 8.86M | 1.58M | 1.11M |
| Total Debt | 17.37M | 8.39M | 6.72M | 4.91M | 4.57M |
| Total Liabilities | 23.66M | 27.41M | 17.61M | 7.43M | 7.09M |
| Stockholders Equity | 30.67M | 14.55M | 11.56M | 6.93M | 5.09M |
Cash Flow | |||||
| Free Cash Flow | 811.46K | 5.39M | 4.27M | 892.89K | -2.29M |
| Operating Cash Flow | 2.54M | 7.12M | 5.73M | 2.00M | -238.46K |
| Investing Cash Flow | -4.78M | -12.20M | -2.89M | -1.11M | -2.73M |
| Financing Cash Flow | 11.22M | 2.95M | 4.43M | -422.54K | 3.86M |
Grown Rogue International Technical Analysis
Positive
0.59
Price Trends
0.45
Positive
0.50
Positive
0.52
Positive
Market Momentum
0.01
Negative
60.84
Neutral
39.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GRIN, the sentiment is Positive. The current price of 0.59 is above the 20-day moving average (MA) of 0.50, above the 50-day MA of 0.45, and above the 200-day MA of 0.52, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 60.84 is Neutral, neither overbought nor oversold. The STOCH value of 39.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:GRIN.
Grown Rogue International Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | C$200.65M | 12.91 | 19.79% | ― | 22.20% | 47.62% | |
67 Neutral | C$171.88M | 36.96 | 11.63% | ― | 19.35% | -26.04% | |
53 Neutral | C$134.97M | -7.10 | 11.60% | ― | 24.36% | 65.65% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | C$133.80M | -1.83 | 66.16% | ― | 3.04% | -47.28% | |
37 Underperform | C$227.80M | -0.97 | 188.90% | ― | -26.72% | -32.38% |
* Healthcare Sector Average
TSE:GRIN
Grown Rogue International
0.54
0.01
1.89%
TSE:JUSH
Jushi Holdings
0.67
0.21
45.65%
TSE:XLY
Auxly Cannabis Group
0.14
0.05
58.89%
TSE:CBST
Cannabist Company Holdings
0.56
0.00
0.00%
TSE:LOVE
Cannara Biotech
1.74
0.47
37.01%
Grown Rogue International Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Grown Rogue Enters Illinois via Turnkey Cannabis Facility and Social Equity Partnership
Positive
Mar 20, 2026
Grown Rogue International has secured a lease and partnership to operate a turnkey cannabis cultivation and processing facility in Dwight, Illinois, marking a capital-efficient entry into the state’s adult-use market. Through its 80%-owned a...
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.