Leef Brands (TSE:LEEF)
:LEEF
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Leef Brands
(LEEF)
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Rating:43Neutral
Price Target:
C$0.24
▼(-15.71% Downside)
Action:Reiterated
Date:05/22/26
The score is held down primarily by weak financial fundamentals—continued net losses, negative equity, and not-yet-consistent free cash flow—despite improving margins, positive operating cash flow, and reduced debt. Technical indicators add a modest headwind with generally weak momentum, while valuation provides limited support due to negative earnings and no dividend yield.
Positive Factors
Margin Improvement
Gross margin expanding to ~30% TTM from ~25% reflects improving unit economics in manufacturing and distribution. If sustained, higher gross margins lower the revenue threshold for profitability, enhance pricing resilience in regulated markets, and improve durability of operating leverage over months.
Negative Factors
Negative Shareholder Equity
A negative shareholders' equity position (~ -$5.7M TTM) reflects accumulated losses and constrains capital-raising options. This structural balance-sheet weakness can increase financing costs, limit covenant flexibility, and impede strategic investments until retained earnings or capital raises restore equity.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin Improvement
Gross margin expanding to ~30% TTM from ~25% reflects improving unit economics in manufacturing and distribution. If sustained, higher gross margins lower the revenue threshold for profitability, enhance pricing resilience in regulated markets, and improve durability of operating leverage over months.
Read all positive factors
Leef Brands (LEEF) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$68.69M
Dividend YieldN/A
Average Volume (3M)144.57K
Price to Earnings (P/E)―
Beta (1Y)-0.13
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees72
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.10
Shares Outstanding280,358,370
10 Day Avg. Volume233,994
30 Day Avg. Volume144,567
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)-2.68
Price to Sales (P/S)1.14
P/FCF Ratio-4.72
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
Leef Brands Business Overview & Revenue Model
Company Description
Leef Brands Inc. operates as a U.S.-based manufacturer of branded cannabis products. The company's operations are divided into two main divisions: Wholesale Concentrates and Retail. Its Wholesale Concentrates segment manages the complete productio...
How the Company Makes Money
Leef Brands makes money primarily by selling cannabis products into licensed markets. Its key revenue stream is wholesale revenue generated from manufacturing branded cannabis products (including cannabis derivative products such as concentrates/e...
Leef Brands Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Jul 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 34.77M | 30.75M | 28.50M | 30.61M | 27.00M | 9.80M |
| Gross Profit | 12.62M | 7.62M | 8.94M | 10.02M | 9.55M | 2.16M |
| EBITDA | -11.08M | -17.43M | -14.26M | -33.41M | -18.89M | -4.52M |
| Net Income | -18.32M | -26.13M | -24.62M | -34.97M | -28.92M | -6.34M |
Balance Sheet | ||||||
| Total Assets | 41.85M | 41.27M | 42.98M | 44.00M | 61.93M | 47.12M |
| Cash, Cash Equivalents and Short-Term Investments | 5.76M | 887.89K | 2.73M | 6.41M | 3.31M | 1.45M |
| Total Debt | 12.31M | 24.14M | 23.15M | 20.38M | 10.91M | 1.33M |
| Total Liabilities | 47.60M | 54.35M | 55.41M | 43.15M | 34.19M | 10.13M |
| Stockholders Equity | -5.75M | -13.08M | -12.43M | -2.80M | 23.94M | 36.99M |
Cash Flow | ||||||
| Free Cash Flow | -122.02K | -7.43M | -7.32M | -7.42M | -6.44M | -2.09M |
| Operating Cash Flow | 1.50M | -4.01M | -1.05M | 187.82K | -6.32M | -710.62K |
| Investing Cash Flow | -1.22M | -3.01M | -6.27M | -7.28M | 2.23M | -2.46M |
| Financing Cash Flow | 4.56M | 4.76M | 3.63M | 10.38M | 49.69K | 3.20M |
Leef Brands Technical Analysis
Positive
0.28
Price Trends
0.22
Positive
0.21
Positive
0.23
Positive
Market Momentum
<0.01
Negative
63.09
Neutral
92.59
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:LEEF, the sentiment is Positive. The current price of 0.28 is above the 20-day moving average (MA) of 0.22, above the 50-day MA of 0.22, and above the 200-day MA of 0.23, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 63.09 is Neutral, neither overbought nor oversold. The STOCH value of 92.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:LEEF.
Leef Brands Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | C$133.80M | -1.32 | 66.16% | ― | 3.04% | -47.28% | |
46 Neutral | C$60.79M | -0.61 | -112.30% | ― | -21.09% | -54.32% | |
43 Neutral | C$68.69M | -2.46 | 169.17% | ― | ― | ― | |
41 Neutral | C$113.63M | -1.34 | -2065.45% | ― | -2.64% | -36.69% | |
40 Neutral | C$18.10M | -0.06 | ― | ― | ― | ― |
* Healthcare Sector Average
TSE:LEEF
Leef Brands
0.25
0.04
16.67%
TSE:JUSH
Jushi Holdings
0.67
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TSE:CWEB
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0.42
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223.08%
TSE:AYR.A
Ayr Wellness
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0.00%
TSE:PLTH
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-27.45%
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.