Grown Rogue International (GRIN) AI Stock Analysis

• Market Cap: C$108.57M
• Dividend Yield: N/A
• Average Volume (3M): 71.83K
• Price to Earnings (P/E): 10.0
• Beta (1Y): 0.90
• Revenue Growth: -18.30%
• EPS Growth: N/A
• Country: CA
• Employees: 204
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 0.01
• Shares Outstanding: 249,581,070
• 10 Day Avg. Volume: 38,149
• 30 Day Avg. Volume: 71,828
• PEG Ratio: -0.11
• Price to Book (P/B): 3.50
• Price to Sales (P/S): 4.85
• P/FCF Ratio: 132.49
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: C$0.44 ▼(-26.27% Downside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

The score is held back primarily by weak financial performance (declining revenue, negative profitability, and deteriorating free cash flow) and bearish technicals. These are partially offset by a reasonable valuation (P/E ~13) and a more constructive earnings-call outlook centered on cost reductions, liquidity, and expansion progress despite ongoing pricing pressure.

Positive Factors

Cost control & rising yields

Sustained lower per‑pound costs and a 20% yield improvement materially reduce unit production costs and support margin recovery across sites. If maintained, these efficiencies provide a durable advantage versus peers, improving resilience to pricing pressure and enabling profitable scale as new facilities ramp.

Liquidity & credit flexibility

A >$13M cash balance plus a $12M committed facility at sub‑8% gives multi‑month liquidity and execution capacity. This durable financing cushion supports investment in expansion, working capital during weak pricing, and gives management optionality to fund ramp activities without immediate dilutive financing.

Expansion driving pro forma growth

Early revenue uplift from New Jersey shows the company can scale into new regulated markets. Geographic diversification into NJ and planned entry into Minnesota reduce reliance on Oregon/Michigan pricing cycles, provide multiple growth levers, and create a path to higher throughput and revenue durability as phase capacities reach steady state.

Negative Factors

Contracting revenue trend

A persistent revenue contraction undermines operating leverage and restricts the firm's ability to cover fixed costs and fund reinvestment. Over the medium term, falling top-line trends reduce room for margin recovery and make execution of expansion plans more dependent on achieving clear cost and yield improvements.

Deteriorating free cash flow

A steep decline in free cash flow indicates operations are not converting earnings into reinvestable cash. This limits internal funding for capex or scale, increases reliance on external liquidity, and raises execution risk for new market ramps if top-line or margin improvements stall.

Negative profitability and operational margins

Negative net and EBIT margins signal structural gaps between revenue and full operating costs. Even with positive EBITDA, elevated non‑operating or early‑stage costs and inefficiencies reduce ability to generate shareholder returns and increase sensitivity to continued pricing pressure in core markets.

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 concentrates. The company sells its products through dispensaries. Grown Rogue International Inc. is headquartered in Medford, Oregon.

How the Company Makes Money

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Grown Rogue International Financial Statement Overview

Summary

Financials are pressured by contracting revenue (-6.85% TTM) and ongoing profitability issues (negative net and EBIT margins). The balance sheet is moderately stable (debt-to-equity 0.58), but negative ROE and sharply declining free cash flow growth (-54.47%) point to weak returns and liquidity strain.

Income Statement

Grown Rogue International's income statement reveals mixed performance. The TTM data shows a decline in revenue growth rate by 6.85%, indicating a contraction in sales. The gross profit margin is stable at around 50%, but the net profit margin is negative, reflecting ongoing profitability challenges. The EBIT margin is also negative, suggesting operational inefficiencies. However, the EBITDA margin is positive, indicating some level of operational cash flow generation.

Balance Sheet

The balance sheet shows moderate financial stability. The debt-to-equity ratio is 0.58, indicating a balanced approach to leveraging. However, the return on equity is negative, reflecting challenges in generating returns for shareholders. The equity ratio is reasonable, suggesting a fair proportion of equity financing relative to total assets.

Cash Flow

Cash flow analysis indicates potential liquidity concerns. The free cash flow growth rate is negative at -54.47%, highlighting a decline in cash available for reinvestment. The operating cash flow to net income ratio is below 1, suggesting limited cash generation relative to net income. The free cash flow to net income ratio is positive, indicating some cash flow coverage of net income.

Breakdown	Sep 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

• Technical Analysis Sentiment: Negative
• Last Price: 0.59
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 0.46, above the 50-day MA of 0.52, and above the 200-day MA of 0.53, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 41.00 is Neutral, neither overbought nor oversold. The STOCH value of 48.72 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
XLY	67 Neutral	C$170.88M	2.37	32.74%	―	27.38%	―
LOVE	67 Neutral	C$180.77M	36.96	11.63%	―	30.64%	101.12%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
GRIN	50 Neutral	C$108.57M	9.97	27.87%	―	-18.30%	―
JUSH	47 Neutral	C$133.75M	-2.14	88.51%	―	3.17%	-24.07%
CBST	37 Underperform	C$227.80M	-0.97	188.90%	―	-26.73%	-32.33%