Grown Rogue International Inc. (TSE:GRIN)
:GRIN
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Grown Rogue International
(GRIN)
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Rating:52Neutral
Price Target:
C$0.39
▼(-33.22% Downside)
Action:ReiteratedDate:04/13/26
The score is primarily held back by weaker financial quality (negative free cash flow, rising leverage, and inconsistent operating profitability) and bearish technicals (below major moving averages with negative MACD). The earnings call was moderately supportive due to cost/yield improvements and expansion plans, but valuation is constrained by a negative P/E and lack of dividend data.
Positive Factors
Revenue Growth & Gross Margin
Sustained TTM revenue growth (+46.4%) combined with a ~43.6% gross margin indicates enduring product demand and favorable unit economics at the top line. This supports durable revenue scale and gross profitability that can underwrite future investment and market expansion over months.
Negative Factors
Rising Leverage
Material increase in leverage (debt-to-equity ~1.28x) reduces financial flexibility and raises fixed obligations. If margins or cash generation slip, higher debt amplifies downside risk, constrains reinvestment, and could force costly refinancing within a 2–6 month horizon if market conditions tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Gross Margin
Sustained TTM revenue growth (+46.4%) combined with a ~43.6% gross margin indicates enduring product demand and favorable unit economics at the top line. This supports durable revenue scale and gross profitability that can underwrite future investment and market expansion over months.
Read all positive factors
Grown Rogue International (GRIN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$97.48M
Dividend YieldN/A
Average Volume (3M)71.83K
Price to Earnings (P/E)―
Beta (1Y)0.76
Revenue Growth-18.30%
EPS GrowthN/A
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
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Grown Rogue International Earnings Call Summary
Earnings Call Date:Nov 11, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The earnings call highlights Grown Rogue's strong cost control, balance sheet management, and strategic expansion into new markets like New Jersey and Minnesota. However, the company faces ongoing pricing pressure in its core markets and operational challenges in New Jersey. Despite these lowlights, the company's strategic initiatives and financial management indicate a positive outlook.Positive Updates
Strong Cost Control
Grown Rogue achieved all-in 4-wall production costs of $368 and $348 in Michigan and Oregon, respectively, with potential costs under $200 for indoor production. Yields improved by 20% year-over-year with a record of 75 grams per square foot.
Negative Updates
Pricing Pressure in Core Markets
The company continues to face significant pricing pressure in Oregon and Michigan, with no immediate changes expected in market conditions.
Read all updates
Q3-2025 Updates
Positive
Negative
Strong Cost Control
Grown Rogue achieved all-in 4-wall production costs of $368 and $348 in Michigan and Oregon, respectively, with potential costs under $200 for indoor production. Yields improved by 20% year-over-year with a record of 75 grams per square foot.
Read all positive updates
Company Guidance
During the Grown Rogue Third Quarter 2025 Earnings Conference Call, CEO Obie Strickler detailed the company's performance metrics and future strategies. The company reported significant improvements in production costs, with Michigan and Oregon achieving costs of $368 and $348 per pound, respectively. Yields have increased to 75 grams per square foot, marking a nearly 20% improvement year-over-year. The company maintains a robust balance sheet, having upsized its credit facility to $12 million at a sub-8% interest rate and ending Q3 with over $13 million in cash. Grown Rogue's expansion into New Jersey is progressing well, with the market anticipated to produce 500-600 pounds of flower per month at full Phase 1 capacity. Looking forward, the company plans to focus on Minnesota for new market expansion, leveraging its strong balance sheet and aiming for low production costs similar to those achieved in current markets.Grown Rogue International Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
52
Neutral
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | 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
Negative
0.59
Price Trends
0.46
Negative
0.49
Negative
0.53
Negative
Market Momentum
-0.02
Negative
40.41
Neutral
22.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GRIN, the sentiment is Negative. The current price of 0.59 is above the 20-day moving average (MA) of 0.41, above the 50-day MA of 0.46, and above the 200-day MA of 0.53, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 40.41 is Neutral, neither overbought nor oversold. The STOCH value of 22.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | C$175.39M | 4.61 | 27.19% | ― | 27.38% | ― | |
67 Neutral | C$190.65M | 36.96 | 11.63% | ― | 30.64% | 101.12% | |
52 Neutral | C$97.48M | -14.67 | 27.87% | ― | -18.30% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | C$139.79M | -2.48 | 75.97% | ― | 3.17% | -24.07% | |
37 Underperform | C$227.80M | -0.97 | 188.90% | ― | -26.73% | -32.33% |
* Healthcare Sector Average
TSE:GRIN
Grown Rogue International
0.39
-0.19
-32.76%
TSE:JUSH
Jushi Holdings
0.70
0.30
75.00%
TSE:XLY
Auxly Cannabis Group
0.13
0.05
66.67%
TSE:CBST
Cannabist Company Holdings
0.56
0.00
0.00%
TSE:LOVE
Cannara Biotech
1.93
0.67
53.17%
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.